Hello everyone, great to have your company on Kalkine TV. I'm Holly and you’re watching
Buzzing Trends. Today we will be looking at three ASX mining shares and explore the reasons
for their share price surge? So, lets get started.
While Australian shares fell 0.4% on Tuesday and today, we see a gain of 0.28% in the market,
ASX-listed mining shares continue to perform on a decent note. Several mining stocks have
jumped on account of new discoveries and escalated commodity prices. In fact, ASX mining shares
were market leaders in terms of gains last quarter. The ASX 300 Metals & Mining Index
advanced 14.7% for the March quarter. On this note, let’s discuss why three ASX-listed
mining shares are on the rise in the past five days.
First up. Krakatoa Resources acquires and develops resource-based projects in Western
Australia. It focuses on exploring gold, copper, and rare earth metals. The stock has risen
over 94% in the past five days. While today it is down by 8.70% trading at AU$0.10. Krakatoa
Resources share price jumped massively on Tuesday following a rare earth discovery at
the Mt Clere project in Western Australia. The company discovered widely spread clay
hosted iconic rare earth element mineralisation, which is used in manufacturing electric vehicle
batteries. Krakatoa’s CEO Mark Major commented on the news that this discovery has come at
a great time for the company and its shareholders. Demand for these magnetic and critical rare
earth elements are expected to increase over the next ten years, as the world embarks on
the electric revolution.
Moving on to the next. Ragnar Metals engages in the exploration and evaluation of mineral
properties. The company explores nickel, copper, and gold assets. The stock has risen over
60% in the past five days. The share price skyrocketed on upbeat drilling results at
the Tullsta nickel project in Sweden. Diamond drilling at its site intersected 0.56% nickel,
0.49% copper, and 0.05% cobalt at 146.3 metres. Commenting on the development, Ragnar Metals' Chairman
Steve Formica said that all holes drilled in this drilling program added to the discovery
and understanding of the magmatic sulphides intersected in the drilling. The modelling
and interpretation to date show this to be an extensive system with the potential to
host significant tonnage of Ni-Cu-Co metals.” Today Ragnar Metals stock is trading at AU$0.52
down by 1.89%.
Lastly, we have Anax Metals. It is engaged in mineral exploration and mine development
projects globally. The stock has risen nearly 55% in intraday trade on Tuesday. However,
it fell back to 10.5 cents, recording an 8.25% gain. Anax Metals reported promising drilling
results at its Whim Creek project in Western Australia. The company discovered massive
copper and zinc sulphide mineralisation. Anax’s Managing Director, Geoff Laing commented on
the news saying, Metallurgical test work is due to commence shortly and is expected to
confirm visual estimates of compatibility with existing processing design engineering
work. It is intended for both high grade deposits to feed directly into the Whim Creek development
scenario. Today Anax Metals stock is trading at AU$0.12 up by 14.29%.
We will be back with our Buzzing Trends show tomorrow to share the latest market insights
with you. Till then, Stay tuned with Kalkine TV for more stock, business and economy related
hot trends.