In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.7% to 7,171.7 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:
IGO Ltd (ASX: IGO)
The IGO share price is up 4.5% to $12.33. Investors have been buying this battery materials producer’s shares following a strong night of trade for base metals. The highlight was arguably the nickel price, which according to CommSec rose by 3.6% to US$26,489 per tonne overnight. IGO owns and operates the Nova nickel-copper-cobalt operation in Western Australia.
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price is up 6% to $1.03. This morning the lithium developer revealed that the demonstration plant has been assembled and dispatched from California to the Kachi Project by Lake Resources’ technical partner, Lilac Solutions. Management notes that the disruptive lithium processing technology cuts operating costs and boosts lithium recovery from Kachi Project brines, while protecting scare water resources.
Talga Group Ltd (ASX: TLG)
The Talga share price has jumped 9.5% to $1.51. Investors have been buying the graphite producer’s shares following the release of an update on drilling activities at its Vittangi Graphite Project in northern Sweden. Management notes that its drilling activities have returned world-class grades, which it believes paves the way to upgrade Europe’s largest natural graphite resource for Li-ion batteries.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price has risen 10% to $3.93. This coal miner’s shares have been in demand with investors after coal prices surged higher. For example, according to CommSec, the thermal coal price rocketed 40% to a record high of US$440 per tonne. This is being driven by European economies seeking alternatives to Russian natural gas.
The post Why IGO, Lake Resources, Talga, and Whitehaven Coal shares are charging higher appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- Are ASX green energy shares losing their appeal amid rising oil and gas prices?
- ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded
- Here’s why this ASX graphite share just leapt 9%
- Why is everyone suddenly talking about Whitehaven Coal (ASX:WHC) shares?
- Why did the Whitehaven Coal (ASX:WHC) share price surge 20% in February?
Motley Fool contributor James Mickleboro 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.
from The Motley Fool Australia https://ift.tt/icSEZtl
Leave a Reply