Rocks and lasers: 2 ASX All Ords shares securing new multi-year highs on Wednesday

A man jumps over a river, bouncing from one rock to another.A man jumps over a river, bouncing from one rock to another.

The All Ordinaries Index (ASX: XAO) is leaping 1.6% higher on Wednesday, and plenty of shares are making the most of it. In fact, two have taken off to trade at their highest points in years.

Let’s take a closer look at what’s driving these ASX All Ords shares to long-forgotten heights today.

2 ASX All Ords shares smashing multi-year highs

Silex Systems Ltd (ASX: SLX)

The share price of Aussie tech company Silex Systems hit a nine-year high on Wednesday, leaping to $3.36 in intraday trade.

That represents a 12% gain and came on the back of news of a milestone for the company’s Zero-Spin Silicon project.

A stage 3 demonstration plant has been constructed to verify the commercial production capability for the quantum computing material.

The production technology for the silicon is based on a variant of the company’s Silex laser isotope separation platform technology.

Silex Solutions expects to begin selling small amounts of Zero-Spin Silicon next year.

Whitehaven Coal Ltd (ASX: WHC)

Meanwhile, fellow ASX All Ords share Whitehaven Coal has surged to yet another multi-year high. The stock was swapping hands for $6.46 in intraday trade today – its highest point since 2011.

It might not come as any surprise, then, that coal prices lifted once more overnight. Thermal coal futures rose 0.9% to reach US$399.65 in Tuesday trade.

The Whitehaven Coal share price has been on a tear in 2022, gaining 130% year to date. Meanwhile, the black rock’s value has surged amid sanctions on Russian commodities resulting from the nation’s invasion of Ukraine.

The ASX All Ords coal producer announced earlier this week it expects to report $3 billion of earnings for financial year 2022. For comparison, the company brought in $200 million in earnings last financial year.

The post Rocks and lasers: 2 ASX All Ords shares securing new multi-year highs on Wednesday appeared first on The Motley Fool Australia.

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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 Scott Phillips.

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