The Australian Securities Exchange (ASX) is the largest stock exchange in Asia, and one of the biggest in the world. Thanks to the high dividend rate and the booming Australian economy, investing in the shares ASX has to offer is a very enticing prospect. However, not everyone is in search of dividends. Some investors are more interested in the penny shares lists. If you’re one of those people, then we’ve got you covered. We’ll show you some of the top penny shares ASX offers that you can get your hands on. Let’s get to it:
What Are Penny Shares?
Before we go further, we should probably define the term. Penny shares are stocks that don’t cost much, usually less than one Australian dollar. These stocks can still have high-value market caps if the company issued large amounts of them.
Now, what are the best of them to buy?
- Minrex Resources (MRR)
The first on our list of penny shares ASX has to offer is Minrex Resources. This company is listed on the exchange as MRR. It is a mining company that deals in gold and base metals. The company currently has multiple projects ongoing in East Pilbara and another at Gullewa.
Thanks to the current high in high in the prices of metals, the company is likely to turn a massive profit. And with that would come a rise in the stock price.
- Castle Minerals (CDT)
This is another mining company on our list. They deal in copper, gold, graphite, lead, and some other metals. Their activities are mostly centered around West Australia, but they also have some overseas in Ghana.
In January, they issued 120 million stocks to raise $3.6 million and boost work on their projects. This development seems promising, putting it on our list of top penny shares ASX lists.
- Splitit Limited (SPT)
This credit company is third on our list of penny shares ASX investors can grab, and it might be surprising. The company made quite a bit of loss last year.
However, the stock price is rising, and their business plan seems to be working. Their revenue has increased by more than double in the last few months. This usually indicates that a price increase is coming, so you should keep your eyes open.
- Brainchip Holdings (BRN)
This may be one of the most speculative on our list, but it is worth watching. In January, Brainchip’s stock price rose to $2.34. Technically, we couldn’t even call it a penny stock. Now, it is back below the $1 mark, but we expect some rallying.
Brainchip are working on AI that think like humans, and have patents and collaborations with NASA to prove their progress. Such things make us a bit optimistic. Yet another worthy share ASX on the list.
Thanks to their low prices, these stocks would give a lot of profit if they boom, but you should trade carefully. The risk in penny stocks are higher than other more-established companies, and losses are quite likely. These shares ASX lists are some of our top picks, and you should keep an eye out for them.