It’s a big day for ASX mining shares across the board, with the resources and materials sectors leading the broader market.
But these 3 ASX-listed miners are besting most on Tuesday, each recording gains of more than 18%.
Right now, the All Ordinaries Index (ASX: XAO) is up 0.54% while the S&P/ASX 200 Index (ASX: XJO) has gained 0.5%.
Meanwhile, the S&P/ASX 200 Resources Index (ASX: XJR) has lifted 1.28% and the S&P/ASX 200 Materials Index (ASX: XMJ) is up 1.2%.
So, without further ado, let’s take a look at today’s outperformers and what’s boosted their share prices to outrageous heights.
3 ASX mining shares recording massive gains on Tuesday
Syrah Resources Ltd (ASX: SYR) – surged 22%
The Syrah Resources share price lifted 22.29% to its intraday high of $1.92 on Tuesday.
Its gain followed news that the company has received a US$107 million loan agreement from the United States’ Department of Energy.
It will use the funding to expand its Louisiana-based Vidalia active anode material facility.
At the time of writing, the Syrah Resources share price is $1.77, 12.74% higher than its previous close.
Though, that’s still 8% lower than it was at the start of 2022.
Lefroy Exploration Ltd (ASX: LEX) – launched 33%
The Lefroy Exploration share price also took off earlier this morning, surging 33.33% to trade at 44 cents at its highest point.
Its gains came after the company announced an “impressive” copper and gold intersection identified at the Lefroy Gold Project’s Burns prospect.
The finding has helped solidify the company’s certainty that Burns houses a high-grade gold-copper zone within a broader gold, copper, silver, and molybdenum system.
It has scheduled a drill hole of at least 1,000 metres to begin in May. The hole will test the down plunge position of the zone, as well as the broader system.
At the time of writing, the Lefroy share price is 39 cents, 18.18% higher than its previous close.
That brings the ASX mining share’s gains for the year so far to 25.8%.
Anax Metals Ltd (ASX: ANX) – rocketed 18%
Finally, the Anax Metals share price launched to 13 cents at its highest point of the day, 18.18% higher than its previous close.
Interestingly, there’s been no news from the mineral developer today. However, last week it announced a “spectacular” copper and zinc find at the Whim Creek Project.
Right now, shares in the ASX mining company are trading at 12.5 cents. That represents a 13.64% increase.
The company’s stock has also gained 56% since the start of 2022.
The post 3 ASX mining shares booming by 18% or more today appeared first on The Motley Fool Australia.
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More reading
- ASX 200 midday update: AMP asset sale talks, Syrah rockets
- Syrah Resources share price booms 19% amid show of US support
- Massive copper and zinc discovery sends this ASX mining share soaring 44%
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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