3 ASX All Ords shares smashing 52-week highs today

It’s a good day for ASX All Ordinaries Index (ASX: XAO) shares, with both the All Ords and the S&P/ASX 200 Index (ASX: XJO) in the green.

Right now, the All Ords is up 0.31% while the ASX 200 has gained 0.41%.

But some stocks are doing better than others. These 3 ASX All Ords shares are trading at their highest point in at least 12 months today.

Let’s take a look at what has helped drive them higher.

3 ASX All Ords shares launching to new 52-week highs

Arafura Resources Limited (ASX: ARU)

Alls Ords newbie Arafura Resources has hit a new 52-week high on Monday, surging to trade for 34.5 cents.

Its gains come despite no news from the company. However, it was recently added to the benchmark index. The ASX rare earths share will be celebrating the anniversary of its first week on the All Ords today.

That might have boosted trading of its shares lately, which could have helped support its record share price.

Additionally, the company’s been on a mostly green streak since it announced it had received $30 million of grant funding for the construction of its rare earths separation plant in the Northern Territory a fortnight ago.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price also hit a new 52-week high on Monday, gaining 1.1% to reach $4.53 in intraday trade.

It comes after the company’s stock was one of the ASX 200’s best performers last week. It gained 12% amid positive results from its peer New Hope Corporation Limited (ASX: NHC).

Additionally, its share price may have been boosted by news last week the company was asked to supply at least 70,000 tonnes of coal to Ukraine.

The coal will be a donation from the Australian government. The federal government will buy the black rocks from Whitehaven and pay for their delivery to Ukraine.

In a statement, several Morrison Government ministers said the donation followed a request for assistance from the Ukrainian Government. The coal is needed to support the European country’s power grid.

However, the donation is not without controversy. According to The Guardian, it’s unclear whether Whitehaven ­– reportedly a Liberal Party donor – was the only major coalminer approached to fill the donation.

Firefinch Ltd (ASX: FFX)

Finally, ASX All Ords stock Firefinch is also seeing its share price moving upwards today.

In fact, it reached a new 52-week high of $1.015 in intraday trade.

The gain comes after the company announced final conditions for the joint venture between Firefinch and Jiangxi Ganfeng Lithium Co have been met.

The joint venture company now holds the exploitation licence for the Goulamina Lithium Project in Mali in western Africa.

Now, the Firefinch can divest its holding in the joint venture to a spin-off company – Leo Lithium Limited.

A timeline for the demerger is expected to be released in the coming weeks. Firefinch shareholders will get to have their say on the plan after that.

The post 3 ASX All Ords shares smashing 52-week highs today appeared first on The Motley Fool Australia.

More reading

• ‘It’s where all the real value-add is’: Why has this ASX rare earths share soared 79% in a month?
• Why APM, Firefinch, Rio Tinto, and Soul Patts shares are charging higher today
• Up 350% in a year, here’s why the Firefinch (ASX:FFX) share price is flying higher on Monday
• These were the best performing ASX 200 shares last week
• Why Allkem, Firefinch, JB Hi-Fi, and Piedmont Lithium are charging higher

Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

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