2 ASX lithium shares smashing all-time highs on Monday

Two ASX lithium shares are having a top run on the market today.

The Mineral Resources Ltd (ASX: MIN) and Winsome Resources Ltd (ASX: WR1) share prices have both hit their all-time highs to start the trading week.

It comes on a day the S&P/ASX 200 Materials Index (ASX: XMJ) is also climbing 1.95% at the time of writing.

Let’s take a look at these two ASX lithium shares in more detail.

Winsome Resources

Winsome Resources shares gained 7.6% at their peak today to record an all-time high of $1.345 per share. The company is exploring lithium in the James Bay region of Quebec, Canada. Winsome has not released any news to the market today.

However, on Friday, Winsome advised it has acquired a key stake in a critical minerals project. Winsome has agreed take over Sinomine’s interests in the Case Lake Project in Ontario, Canada. The project is currently owned by Canadian company Power Metals Corp. The site hosts high-grade deposits of lithium, tantalum, and cesium.

In mid-November, Winsome announced a $6.8 million capital raise for its lithium projects. Winsome’s shares soared by 134% in November, the most of any ASX mining share. The company’s shares are currently trading at $1.28 each, a gain of 2.4% on Friday’s closing price.

Mineral Resources

Mineral Resources has hit another all-time high today after also lifting on Friday. The company’s shares peaked at $92.44 each today, a jump of almost 3% on Friday’s closing price.

Mineral Resources is exploring lithium hydroxide. The compound is currently priced at US$85,000 a tonne on the London Metal Exchange. Mineral Resources converted 4,703 tonnes of lithium hydroxide in the first quarter of FY23.

Mineral Resources is also a major iron ore producer. Iron ore prices climbed another 1.5% to US$106.5 a tonne on Friday. It continues climbing today, up another 2.39% on the Singapore Exchange at last look.

The Mineral Resources share price is currently $90.78, still up 1.06% after coming down from its all-time high this morning.

The post 2 ASX lithium shares smashing all-time highs on Monday appeared first on The Motley Fool Australia.

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More reading

• ASX index beaters: 5 shares that have supercharged portfolios in 2022
• The ASX 200 gained 6% in November. Here’s how these 3 ASX mining shares smashed those returns
• Why is the Mineral Resources share price rocking an all-time high today?
• Thank you Mr Powell! 7 ASX 200 shares cracking new 52-week highs on Thursday
• Can you guess which 3 ASX 200 lithium shares led the charge in November?

Motley Fool contributor Monica O’Shea 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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