Itâs a sunny day on the ASX. The benchmark All Ordinaries Index (ASX: XAO) is gaining 0.51% at the time of writing. But thatâs nothing compared to the surges being recorded by these ASX mining shares.
Let’s take a look at three ASX materials and resources stocks soaring as high as 18% on Thursday.
3 ASX mining shares taking to the skies today
First up, the Patriot Battery Metals Inc (ASX: PMT) share price is taking off today. It’s lifting 29% right now to trade at $1.13.
Its surge follows news the lithium developer has identified the highest-grade intercept yet at its Corvette Property in Quebec, Canada.
Drilling at the project returned 156.9m at 2.12% lithium oxide, including 25m at 5.04% lithium oxide or 5m at 6.36% lithium oxide.
Patriot Battery Metals floated on the ASX in early December following a $4.2 million initial public offering (IPO).
Joining the lithium share to post a whopper of a gain today is a slightly unusual mining company. The Minbos Resources Ltd (ASX: MNB) share price is up 18% right now, trading at 13 cents.
ASX market watchers are likely used to seeing mining companies digging for metals.
Minbos, on the other hand, is digging for phosphate rock â a key ingredient in some fertilisers.
It’s also building a plant to produce enhanced phosphate rock granules, which will become feed stock for fertiliser designed for the Angolan agricultural sector.
Today, the company announced the fertiliser plant and equipment were on their way to the African nation, with the first shipments having already arrived.
Additionally, it said initial construction activities at its Cácata phosphate deposit remained on target and within budget.
The final mining share posting a whopping gain today is Aruma Resources Ltd (ASX: AAJ). The stock is up 20.2% right now, trading at 9.5 cents.
Interestingly, there’s been no news from the tiny lithium hopeful to explain today’s rise.
The last time the market heard anything from the company was last week when it released a positive update on assay results from its Mt Deans Lithium-Rubidium Project.
The post 3 ASX mining shares rocketing more than 18% on Thursday appeared first on The Motley Fool Australia.
FREE Guide for New Investors
Despite what some people may say – we believe investing in shares doesn’t have to be overwhelming or complicated…
For over a decade, we’ve been helping everyday Aussies get started on their journey.
And to help even more people cut through some of the confusion “experts’” seem to want to perpetuate – we’ve created a brand-new “how to” guide.
Yes, Claim my FREE copy!
*Returns as of January 5 2023
(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
- ‘Hard to find words’: Why this ASX lithium share is rocketing 22%
- Own ASX lithium shares? Here’s the latest lithium price forecast
- 2 tiny ASX lithium shares leaping over 20% on BIG news
- This under-the-radar ASX battery metals share is leaping 15% on Friday. Hereâs why
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.
from The Motley Fool Australia https://ift.tt/Q4tEowi
Leave a Reply