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Who made the gains? Here are November’s top ASX miners and explorers

Seven explorers posted three-figure gains in the month of November as the worm turned for ASX resources stocks, the most … Read More
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This article was originally published by Stockhead

The resources market posted a major turnaround in November as the dour mood that fell over commodities through the second half of the year from China’s Covid crisis and US Fed’s interest rate rises gave way to optimism.

Virtually every major commodity posted massive price rises, led by a more than 30% run for iron ore as speculation China would end its economy curdling Covid Zero policy grew alongside a growing and unusual protest movement against Xi Jinping’s Communist Party.

Check out our in-depth analysis of all the major commodity price movements over the past month below.

Read: Up, Up, Down, Down: Which Commodities Won and Lost in November?

The ASX 200 Resources index is up more than 14% over the past month, a tranquil mood which trickled down to the riskier junior end of the mining and exploration scene.

Seven companies rose by 100% or more across a range of commodities, three alone exploring for rare earths. That is the largest number since the 13 that hit that milestone in August and more than double the number (3) that hit the tonne over the past two months.

Are we back in action? Gold seems to be, with a major lift from hopes rate rises will slow, sending it back beyond US$1800/oz early in December.

With booming lithium equities cut off at the knees for the second time in 2022 by bearish analyst notes and an unconfirmed whiff of falling prices in China, gold was back in the good books.

21 of the 50 biggest ASX resources gainers for November were primarily in gold, with just eight primarily focused on lithium, though the leading mover was a phosphate stock.

Iron ore even took a slice of the action after being the top commodity over the past month, with Grange Resources (ASX:GRR), Champion Iron (ASX:CIA) and Pearl Gull Iron (ASX:PLG) running hard.

 

Here’s a breakdown of the most popular commodities for November:

Pic: Stockhead

 

Here are the top 50 ASX resources stocks for the month of March >>>

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop

CODE COMPANY NOVEMBER GAIN SHARE PRICE MARKET CAP LOOKING FOR
AEV Avenira 158% 0.031 $ 39,328,530.00 PHOSPHATE
OD6 Od6Metalsltd 138% 0.5 $ 24,670,248.00 REE
WR1 Winsome Resources 134% 1.1 $ 153,111,223.00 LITHIUM
WA1 WA1 Resources 133% 1.96 $ 68,685,488.00 REE
CDR Codrus Minerals Ltd 125% 0.135 $ 5,458,050.00 REE
G50 Gold50Limited 108% 0.25 $ 14,235,750.25 GOLD
WIN Widgie Nickel 104% 0.56 $ 126,761,478.00 NICKEL/LITHIUM
LCL Los Cerros Limited 95% 0.043 $ 30,775,690.86 GOLD
AIS Aeris Resources Ltd 85% 0.565 $ 393,838,989.15 COPPER
GRX GreenX Metals 85% 0.5 $ 134,418,846.00 COPPER/COAL
ICL Iceni Gold 82% 0.12 $ 15,383,571.36 GOLD
A4N Alpha Hpa Ltd 67% 0.7 $ 574,337,134.68 HIGH PURITY ALUMINA
AQI Alicanto Min Ltd 64% 0.059 $ 26,238,103.40 SILVER
RNU Renascor Res Ltd 58% 0.34 $ 745,275,009.82 GRAPHITE
ODY Odyssey Gold Ltd 57% 0.044 $ 29,926,063.20 GOLD
BGL Bellevue Gold Ltd 57% 1.1925 $ 1,225,607,004.18 GOLD
BUR Burleyminerals 57% 0.29 $ 9,953,684.21 LITHIUM
BML Boab Metals 53% 0.305 $ 43,745,655.00 LEAD
MZZ Matador Mining 53% 0.145 $ 43,655,166.00 GOLD
FML Focus Minerals 52% 0.22 $ 63,042,902.00 GOLD
CML Chase Mining Limited 50% 0.018 $ 17,486,615.32 GRAPHITE
IPT Impact Minerals 50% 0.009 $ 22,332,335.00 SILVER
SFR Sandfire Resources 47% 5.275 $ 2,335,670,808.80 COPPER
IMI Infinitymining 47% 0.36 $ 23,057,394.84 LITHIUM
TKM Trek Metals Ltd 47% 0.088 $ 32,027,167.30 LITHIUM
ARU Arafura Rare Earths 47% 0.44 $ 760,075,795.60 REE
LYN Lycaonresources 44% 0.36 $ 11,850,750.00 NICKEL
VKA Viking Mines Ltd 43% 0.01 $ 10,252,584.31 GOLD
PDI Predictive Disc Ltd 42% 0.22 $ 381,320,220.82 GOLD
LSA Lachlan Star Ltd 42% 0.017 $ 22,423,216.05 GOLD
EVN Evolution Mining Ltd 41% 2.945 $ 5,248,146,672.34 GOLD
TCG Turaco Gold Limited 40% 0.056 $ 23,952,133.46 GOLD
KFE Kogi Iron Ltd 40% 0.007 $ 11,424,544.29 LITHIUM
EMU EMU NL 40% 0.007 $ 4,810,876.74 GOLD
CIA Champion Iron Ltd 39% 6.715 $ 3,480,709,737.98 IRON ORE
MPG Manypeaksgoldlimited 39% 0.285 $ 9,676,320.00 GOLD
GSM Golden State Mining 38% 0.054 $ 6,318,767.02 LITHIUM
CHN Chalice Mining Ltd 38% 5.86 $ 2,111,027,258.34 NICKEL
AGG AngloGold Ashanti 37% 5.59 $ 490,642,707.50 GOLD
VTM Victory Metals Ltd 36% 0.245 $ 12,800,930.77 GOLD
PLG Pearlgullironlimited 35% 0.031 $ 1,701,971.55 IRON ORE
PR1 Pureresourceslimited 34% 0.315 $ 7,882,877.84 LITHIUM
MMC Mitremining 33% 0.26 $ 7,042,126.00 GOLD
MCT Metalicity Limited 33% 0.004 $ 13,968,157.36 GOLD
HLX Helix Resources 33% 0.008 $ 18,585,166.74 COPPER
E79 E79Goldmineslimited 33% 0.14 $ 7,917,951.30 GOLD
ARE Argonaut Resources 33% 0.002 $ 12,723,742.55 LITHIUM
SBM St Barbara Limited 33% 0.68 $ 510,338,528.13 GOLD
GOR Gold Road Res Ltd 32% 1.8325 $ 1,931,298,474.91 GOLD
GRR Grange Resources. 32% 0.825 $ 949,017,732.36 IRON ORE

 

November Top ASX Resources Stocks

WA1 Resources (ASX:WA1) completed the incredible feat of two straight months of 100% plus gains, thanks largely to a run from $1.24-$1.99 on November 1, the end of a magical five-day run that saw the stock 10-bag in under a week.

WA1 has since hit another niobium rich carbonatite at its West Arunta project, raised $10 million from investors to go drilling (at a 13% premium no less) and inspired a sudden rush of copycats and nearologists alike.

Niobium is now entering the lexicon of the mining investor. The lightly traded critical metal is mainly used to make steel better, but also has growing uses in lithium-ion batteries, intelligent glass, solar panels, 5G tech, and nuclear energy.

Just two Brazilian and Canadian companies have a virtual duopoly on the niobium market and ferroniobium metal (65% Nb) currently sells for ~US$45,000/t.

But incredibly, three companies still outperformed WA1 across the month.

The leading gainer at 158% was $40 million phosphate small cap Avenira (ASX:AEV), a favourite of Stockhead expert panellist Niv Dagan.

It owns the Wonarah phosphate project in the NT and is wants to capture the growing market for lithium-iron-phosphate batteries by shipping DSO phosphate suited for conversion into battery grade phosphoric acid.

LFP cathode batteries have a lower energy density than traditional nickel-cobalt-manganese cathodes, but LFP cars are cheaper.

“TESLA already using (LFP) in half its fleet, LFP (is) stronger, safer and cheaper,” Dagan says.

“(It also has) applications in fertiliser which is a high-growth area.”

Avenira has a ‘tripartite non-binding MoU’ in relation to Wonarah with the NT Government and LFP cathode manufacturer Aleees to jointly develop a cathode plant in Darwin.

OD6 Metals (ASX:OD6) is the latest rare earths explorer to moon on investor ebullience around the critical minerals, crucial to the production of EVs and wind turbines.

It rerated on assays showing widespread high grade clay rare earths mineralisation at its Splinter Rock project near the coastal WA town of Esperance.

Winsome Resources (ASX:WR1) bucked the trend across the lithium sector in November, catching a rocket after announcing a “significant pegmatite intercept” late October at the Adina lithium project in Canada.

All up 160m of pegmatite was intercepted in drilling below the recently discovered, well mineralised Jamar outcrop.

A 12,000m drilling program currently underway will culminate in a maiden resource at the Adina and Cancet projects in 2023.

It also raised $6.8 million during the month at $1.67, a massive 98% premium to its prevailing share price thanks to a quirk of some flow-through shares from a Canadian exploration incentive program.

Good if you can get it.

The post Who made the gains? Here are November’s top ASX miners and explorers appeared first on Stockhead.











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