These speculative ASX small caps could rise 70% to 91%: Bell Potter

When it comes to targeting large capital gains, it can pay to look at the smaller end of the market.

Bell Potter has done just this and has issued new research reports on two companies its team believes could deliver substantial share price gains.

Let's see who they like.

LinQ Minerals Ltd (ASX: LNQ)

Shares in LinQ Minerals are already up more than 150% over the past 12 months, but the Bell Potter team think they have a way to go yet.

The company recently reported that copper-gold exploration drilling at its Gidginbung South target in New South Wales had encountered a potentially large mineralised system based on visual assessments.

LinQ said it viewed this initial assessment as highly significant.

The hole was drilled about 1km south of the Gidginbung Pit at the company's Gilmore Project.

LinQ said the new discovery was open in all directions, "as there are no similarly deep drill holes in the whole Gidginbung South prospect area''.

The company's Technical Director John Holliday said it could be a "significant breakthrough" for the company.

He added:

It is possible that LinQ has discovered the core part of a large high-sulphide epithermal-porphyry system for which Gidginbung and the Dam are smaller components. In geologic terms, this is potentially a big mineralised system.

Bell Potter said while assays would be needed to fully assess the discovery, the visual logging was highly encouraging.

The broker has a price target of 90 cents on LinQ shares compared to 53 cents currently.

If achieved this would constitute a 69.8% increase.

Frontier Energy Ltd (ASX: FHE)

Frontier Energy shares have not performed well over the past year, down 38% over the period.

But the Bell Potter team said recent changes to how the Australian Energy Market Operator had assessed the company's Stage One Waroona Renewable Energy Precinct were a positive.

AEMO has increased the project's Reserve Capacity Credits from 88MW to 99MW.

Bell Potter said the uplift increased the expected revenue from the renewables project, with the company now projecting $76 million in revenue in 2032, up from $72 million.

The broker said the company now needed to finalise its debt, ramp up Stage One site works with the first solar equipment expected to arrive in December this year, and finalise the build, expected to be in February 2027.  

Bell Potter has increased its price target for Frontier Energy shares from 30 cents to 34 cents, compared to 17.75 cents currently.

If achieved this would constitute a 91.5% increase.

The post These speculative ASX small caps could rise 70% to 91%: Bell Potter appeared first on The Motley Fool Australia.

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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