November was a great month for the S&P/ASX 200 Index (ASX: XJO), with the benchmark index finishing up 6.1%. But three small-cap ASX mining shares left those gains in the dust.
In fact, two of the ASX miners more than doubled their share prices over the month. And the other came within a whisker of that same milestone.
Which ASX mining shares are we talking about?
Read on.
This ASX mining share gained 96% in November
The GreenX Metals Ltd (ASX: GRX) share price leapt 96.3% from the closing bell on 31 October through to the finish of trade of 30 November.
The junior ASX mining share is primarily focused on copper. Its biggest project is the Arctic Rift Copper Project, located in Greenland.
Promising early news from this project likely led to a spike in investor interest in the stock.
On 9 November, GreenX Metals reported âhighly encouraging resultsâ from its initial Arc site visit. High-grade copper and silver samples were both announced.
Project leader Jonathan Bell said, âThe ease with which the historically reported mineralisation was identified in the field bodes well in terms of forward work programs to locate and map stratabound mineralisation that may have bulk tonnage potential.â
Also boosting the ASX mining share on the last day of November was the announcement that it had completed the arbitration hearing over its claims against Poland.
As my Foolish colleague Bronwyn reported on the day:
GreenX Metals is seeking damages of up to $1.3 billion in lost profits and damages arising from government actions that prevented the company from developing its Jan Karski and Debiensko projects… Itâs now a matter of waiting for the Arbitral Tribunal to render a decision in the case.
The second-best share price performer in November
The second-best ASX mining share to have held in your portfolio in November was Southern Cross Gold Ltd (ASX: SXG), which leapt 132.4% over the month.
The Southern Cross Gold share price trended higher throughout the month. And the ASX mining share got another big lift on 21 November when the company reported âanother spectacularly wide intersection of gold-antimony mineralisationâ at its 100%-owned Sunday Creek Project, located in Victoria.
Commenting on the results that included multiple visible gold intersections, Southern Cross Goldâs managing director Michael Hudson said:
With only 67% of the hole assayed so far, yet with more than 300 metres of mineralisation already identified, and 270 metres of core left to process, understandably we are extremely impressed how Sunday Creek continues to deliver.
Which brings us toâ¦
The best-performing ASX mining share in November
The winner by a nose is Winsome Resources Ltd (ASX: WR1), with the share price closing up 134.0% in November.
The lithium explorer listed on the ASX just over a year ago, on 30 November 2021, with November 2022 marking its strongest month to date.
Winsome Resources has been a clear beneficiary of the lithium fever thatâs gripped markets amid an increasing global push towards electrification.
Investor interest in the ASX mining share surged on 28 October. That came on news that Winsome had identified âsignificant pegmatite interceptsâ at its Adina and Cancet lithium projects, located in Canada.
The company continued to release more promising results from its exploratory drilling campaign in the early days of November.
And the ASX mining share got yet another big boost after announcing a $6.8 million capital raise at $1.67 per share. That was 54% higher than the Winsome Resources share price on the day of the announcement.
The post The ASX 200 gained 6% in November. Here’s how these 3 ASX mining shares smashed those returns appeared first on The Motley Fool Australia.
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More reading
- Guess which ASX copper share is rocketing 49% on Wednesday?
- 3 ASX mining shares leaping over 20% on Wednesday
- 3 ASX mining shares that soared more than 20% today
- Why has ASX lithium share Winsome Resources rocketed 220% in a month?
- Up 140% in a month, why has ASX lithium share Winsome Resources just been halted?
Motley Fool contributor Bernd Struben 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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