‘Really exciting’: Experts name 2 ASX mining shares ready to take off

In a pretty terrible year for other sectors, ASX mining shares really have carried the overall market.

But now that so many resources stocks have elevated prices, investors need to be selective about which of these notoriously cyclical equities to buy going into 2023.

Two minerals that many experts still seem to be bullish on are lithium and gold.

Lithium is a valuable ingredient of high-powered batteries, which are essential for a carbon-neutral future.

And gold is valued as a safe haven investment asset as well as for its use as electrical connectors in computers.

Wilson Asset Management analysts this week mentioned two ASX mining shares involved in exactly those resources that they would buy right now: 

Keep an eye on these lithium deposits

Equities dealer Will Thompson is a big fan of Global Lithium Resources Ltd (ASX: GL1) at the moment.

“I previously said that we’d rather be exposed to the producers in this high-price environment,” he said in a WAM video.

“However, we really like the assets that they’ve got.”

He added that it’s a bonus that a big producer and “a great capital allocator” like Mineral Resources Limited (ASX: MIN) is a major shareholder in Global Lithium.

“We’re really excited to see the results they’re going to have in the back half of this year into next year,” said Thompson.

“They’ll have a resource update and some drilling updates, so it’s a buy.”

Global Lithium shares have roughly doubled in value since the start of the year.

‘One of the most significant discoveries in recent times’

Senior equities dealer Cooper Rogers likes the look of gold digger Predictive Discovery Ltd (ASX: PDI).

“PDI is a gold company based in West Africa,” he said.

“It has stumbled on one of the most significant discoveries in recent times over there. It’s got a 4.2 million ounce resource of gold.”

Predictive Discovery is not resting on its laurels though, as it continues to drill.

“It’s hit gold intercepts 225m and 375m below its current optimised pitch shell, meaning this deposit could keep going down a lot further,” said Rogers.

“We think it’s really exciting.”

Rogers is a fan of the management running the ASX mining share.

“It’s got $50 million in the bank and it’s going to continue aggressively drilling while carrying out its scoping activities,” he said.

“So PDI’s a buy for us.”

The Predictive share price is down 22% for the year but has rocketed 40% up since the end of October.

The post ‘Really exciting’: Experts name 2 ASX mining shares ready to take off appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ‘Lithium investment is really just beginning’: KPMG
• Gold and lithium: Mining expert names 2 ASX shares that could explode
• This ASX lithium share is 10% owned by Mineral Resources. Is it a buy?
• Can ASX 200 lithium shares come charging back in December?
• 2 ASX lithium shares smashing all-time highs on Monday

Motley Fool contributor Tony Yoo 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.

from The Motley Fool Australia https://ift.tt/avb91iW