Ann: US$300m Finance Facility and Management changes, page-117

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Soon to be in FIRST place!!

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for May 9 [intraday]:

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AJQ	Armour Energy Ltd	0.005	25%	5,621,617	$15,050,431
APL	Associate Global	0.3	20%	114,771	$12,105,222
BEZ	Besra Gold	0.29	32%	14,824,020	$77,849,615
CHZ	Chesser Resources	0.12	64%	29,335,077	$42,967,898
CLE	Cyclone Metals	0.002	33%	1,947,500	$13,633,872
CPH	Creso Pharma Ltd	0.017	31%	28,376,214	$27,781,529
ERL	Empire Resources	0.006	20%	849,999	$5,564,675
FG1	Flynngold	0.074	19%	501,719	$6,378,159
GMN	Gold Mountain Ltd	0.0035	17%	652,010	$5,909,798
GNM	Great Northern	0.0025	25%	50,000	$3,418,102
IMC	Immuron Limited	0.093	16%	1,336,212	$18,223,868
NTM	Nt Minerals Limited	0.008	14%	334,120	$5,604,892
NZS	New Zealand Coastal	0.0035	17%	5,044,102	$4,962,030
OAR	OAR Resources Ltd	0.004	33%	750,000	$7,233,114
OAU	Ora Gold Limited	0.0035	17%	46,799,916	$11,810,775
OJC	The Original Juice	0.11	16%	400,149	$23,236,125
PL3	Patagonia Lithium	0.215	13%	522,344	$9,310,665
PPY	Papyrus Australia	0.03	15%	23,501	$12,352,129
SPN	Sparc Tech Ltd	0.33	20%	69,758	$23,552,560
TAS	Tasman Resources Ltd	0.008	14%	29,000	$4,988,685
VPR	Volt Power Group	0.0015	50%	32,537	$10,716,208
VSR	Voltaic Strategic	0.049	81%	83,432,752	$8,297,106
WC8	Wildcat Resources	0.04	18%	1,888,308	$22,508,773
XTC	Xantippe Res Ltd	0.004	14%	55,228,531	$37,030,349
ZEU	Zeus Resources Ltd	0.017	21%	2,104,859	$6,136,200

There are three Big Winners among the Small Caps this morning, withVoltaic Strategic Resources (ASX:VSR)wearing the crown at lunchtime after gaining 81.5% so far today.

Just six days after it got the drills spinning at its Ti Tree project in WA, the company says it has completed its first-pass exploration and things are looking very, very nice indeed.

Several thick (up to ~60m) pegmatite bodies have been intercepted down-dip from surface, and drilling has successfully confirmed key structural trends for identified LCT pegmatites and deepened the Voltaic’s understanding of the broader geological controls within the project.

The company says that confirmation of pegmatite continuity at depth significantly bolsters the Project’s prospectivity where >300 pegmatites have been mapped and <10% of the tenure explored to date.

Voltaic chief executive Michael Walshe said he is extremely encouraged by these maiden drill results as multiple thick pegmatites have been intercepted from surface and all targets remain open at depth.

Actual assay results are due in six weeks.

In second place, but for entirely different reasons, isChesser Resources (ASX:CHZ) which has gone soaring 64.3% this morning on news that it has entered into a binding proposal from Fortuna Silver that will see Fortuna acquire 100% of the company.

Under the proposal Chesser shareholders will receive consideration of 0.0248 Fortuna shares per Chesser share, representing an implied value of $0.142 per Chesser share. At the time of writing, Chesser was sitting at $0.120 per share.

And in third place, Besra Gold (ASX:BEZ) has jumped 34% this morning on news that it has signed a binding gold purchase agreement for up to $300 million with major shareholder Quantum Metal Recovery, giving effect to the non-binding term sheet previously announced in late March this year.

The agreement provides up to a US$300m deposit, to be paid over 30 months, against future gold production ounces, enabling Besra to fully fund production at its Bau gold project and the appraisal of other deposits within the Bau goldfield corridor.

It’s an important shift in phase for Besra, which the company says necessitates a reshuffle in management structure as the company moves from exploration towards production.

Hence, Dr Ray Shaw has agreed to step down as CEO and move into the role of chief operating officer to focus on in-country development and exploration activities, while Jocelyn M. Bennett has been appointed to assume the role of Besra’s executive chair.

“This extraordinary funding deal should provide ample funding for the development of Bau and allows us to bring the project into production in a way that is uniquely non-dilutive to our shareholders and to retain exposure to gold price movements, free of hedging or other onerous covenants,” Bennett said.

“Whilst we have several Conditions Precedent yet to fulfil we expect the US$300m Facility to be fully operational by June 30, 2023.”