Gold, silver and rare earths dominate the scene for June
Encounter’s niobium hits in West Arunta puts a fire under stock price
MRG Metals gets US$6m in backing for mineral sands development
The winners’ list is out! Check out the top 50 performing resources companies that traded on the ASX for June as we boldly step into a brand new financial year.
The swings and roundabouts of commodities have been pushing gold, silver and rare earths prices up and taking ASX small caps with them for a ride in the month of June.
The month was more subdued than May’s winner’s list, with just two stocks increasing in value in triple digits.
Gold’s heater continues bouncing around the US$2320 mark ($3480 AUD at time of writing), and juniors are lapping up positive investor sentiment.
The US Department of Commerce says gold is testing the top of its range at the moment but still remains capped below US$2350/oz in an initial reaction to inflation data.
August futures last traded at US$2348.60/oz which is what you’d probably call a high price ‘flat’, with little movement over the past month.
China’s gorging on a lot of the shiny lately as it looks to lead BRICS nations in decoupling from the petro-dollar installed in the ’70s, which locked oil trades to USD.
The Middle Kingdom’s bullion shopping spree is continuing throughout 2024, and while official data remains to be reported, the sentiment is real that it could top 2023’s record purchase of 7.23Moz – the most, according to the World Gold Council, since 1977.
Silver is also pushing highs, having punched up near $50/oz during June due to demand in solar and other applications.
READ MORE: Breakaway BRICS on bullion binge, pushing new gold-backed currency.
For REEs, the long-term, rising demand sentiment continues to attract investors, regardless of price fluctuations.
China’s pegged to produce ~84% of the world’s magnetic REEs neodymium and praseodymium (NdPr), according to Benchmark Intelligence’s Rare Earths Forecast, and has a near-monopoly on processing and manufacturing them into magnets.
June’s winners
MRG Metals (ASX:MRQ) was the star of the show for June after a JV announcement with a Hong Kong-based SINOWIN Lithium Cobalt (SLC) drove up its share price 4X.
SLC will pay for the development and production costs to build output up to 440,000tpa of mineral sands at its Mozambique projects, contributing US$3m up front and another US$3m to progress mining approvals and project design into construction.
That will earn SLC a handy 70% stake in the JV and once hitting the annual output target that will go up to 80%.
After the initial hike in stock price MRQ still settled 300% up for the month to trade at 4c per share.
ASX gold (and silver) hunters of note that have pushed the needle up include Titan Minerals (ASX:TTM) with its copper-gold projects in Ecuador – up almost 100% for the month on the back of growing the footprint of its Dynasty gold project.
“Titan’s dedicated exploration has rewarded us with multiple new gold and copper targets, which we are excited to soon drill test, as we aim to grow the 3.1Moz gold and 22Moz silver mineral resource,” TTM CEO Melanie Leighton said recently.
Niobium is the talk of the town at the moment as WA1 Resources (ASX:WA1) revealed a maiden 200Mt resource for its high-grade Luni discovery in WA’s West Arunta region.
The company went from a market cap of $9m to now a more than $1b company, with shares going up an astronomical 7816% in just two years.
There’s a few explorers looking to find another Luni in the region and one of them is Encounter Resources (ASX:ENR) – another one of June’s ressie winners with shares going up 100% on the back of hitting high grades of niobium, including a 52m intersection at 3% Nb205 from 81m to end of hole.
The West Arunta critical minerals district and projects. Source: Norwest Minerals.
More June winners
Taiton Resources (ASX:T88) (REE, gold) +79%
Forrestania Resources (ASX:FRS) (lithium, nickel, gold, iron ore) +79%
Summit Minerals (ASX:SUM) (lithium, niobium) +70%
Green Critical Minerals (ASX:GCM) (graphite, copper) +67%
The top 50 ASX resources stocks for the month of June
Scroll or swipe to reveal table. Click headings to sort.
Code Description Last %Mth MktCap MRQ MRG Metals Limited 0.004 300% $10,100,475 CE1 Calima Energy 0.008 131% $5,067,488 ENR Encounter Resources 0.74 100% $286,275,814 TTM Titan Minerals 0.048 92% $79,977,935 T88 Taiton Resources 0.145 79% $7,797,309 FRS Forrestania Resources 0.034 79% $5,177,144 SUM Summit Minerals 0.34 70% $23,028,808 GCM Green Critical Minerals 0.005 67% $4,546,340 SIX Sprintex Ltd 0.05 61% $26,049,615 LPM Lithium Plus 0.16 60% $21,174,400 NIM Nimy Resources 0.064 60% $9,452,535 TM1 Terra Metals Limited 0.072 60% $23,070,738 FAL Falcon Metals 0.25 56% $44,250,000 FTL Firetail Resources 0.072 54% $13,943,067 AKM Aspire Mining Ltd 0.33 50% $177,672,945 ADG Adelong Gold Limited 0.006 50% $6,707,934 AYM Australia United Mining 0.003 50% $5,527,732 OAU Ora Gold Limited 0.006 50% $35,705,798 VPR Volt Group 0.0015 50% $16,074,312 WEL Winchester Energy 0.003 50% $4,081,688 TVN Tivan Limited 0.073 46% $123,446,177 M2M Mt Malcolm Mines NL 0.026 44% $4,052,964 JAT Jatcorp Limited 0.66 43% $49,127,186 SGQ St George Mining 0.0255 42% $23,724,970 CLA Celsius Resource Ltd 0.014 40% $36,418,691 KOR Korab Resources 0.007 40% $3,303,450 KRR King River Resources 0.014 40% $20,195,824 MDX Mindax Limited 0.043 39% $92,195,270 MRL Mayur Resources Ltd 0.26 37% $98,455,805 SPR Spartan Resources 0.985 37% $983,078,769 STX Strike Energy Ltd 0.28 37% $715,193,322 KCC Kincora Copper 0.048 33% $9,826,871 TMK TMK Energy Limited 0.004 33% $20,734,836 MRZ Mont Royal Resources 0.072 31% $5,186,817 MM1 Midas Minerals 0.085 31% $7,749,726 GES Genesis Resources 0.005 25% $3,914,206 KP2 Kore Potash PLC 0.03 25% $20,213,419 LRV Larvotto Resources 0.12 25% $25,081,165 HYT Hyterra Ltd 0.036 24% $35,153,842 TRE Toubani Res Ltd 0.18 24% $30,119,775 DES Desoto Resources 0.093 22% $5,573,165 CYM Cyprium Metals Ltd 0.045 22% $68,612,055 BUR Burley Minerals 0.17 21% $21,803,787 BVR Bellavista Resources 0.255 21% $17,263,202 KAU Kaiser Reef 0.17 21% $26,511,804 RR1 Reach Resources Ltd 0.017 21% $13,990,902 VTM Victory Metals Ltd 0.325 20% $30,611,886 AGR Aguia Res Ltd 0.024 20% $23,826,595 AHK Ark Mines Limited 0.15 20% $8,594,194 SRR Sarama Resources 0.025 19% $2,930,139
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