Metals are booming again
\n13 resources winners with gains above 100% in May; a recent record
\n13 out of the 50 top performers last month were engaged in a project acquisition, M&A activity, or joint venture
\nSmall Cap Standouts: Australian Gold & Copper, Sun Silver, Falcon Metals<\/p>\n
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\u201cSell in May and go away<\/a>,\u201d goes the old stock market proverb.<\/p>\n Not this May. Mining and exploration stocks are officially back in fashion, thanks to some good old-fashioned Chinese stimulus.<\/p>\n \u201cChina [the world\u2019s largest consumer of raw materials] has continued to step-up fiscal support and announced supportive\/pro-growth policies, underpinning commodity demand,\u201d says RBC Capital Markets.<\/p>\n \u201cWe think that the cyclical recovery underway in China should continue over the coming months as more spending comes through.\u201d<\/p>\n This coupled with historically low exchange-stocks, ongoing supply disruptions and under-investment in new mine capacity should continue to support commodity prices, RBC says.<\/p>\n \u201cWe forecast most commodity prices to rise in 2024 (except bulks). Overall, our largest prices changes for the near term are for gold, copper, zinc, and met coal.\u201d<\/p>\n RBC doesn\u2019t mention silver, which went ballistic last month to peak at ~US$33\/oz \u2013 its highest point in over a decade.<\/p>\n This is due to safe haven buying and the\u00a0\u2018we aren\u2019t producing enough silver to meet industrial demand!\u2019<\/strong><\/a>\u00a0thematic\u00a0finally<\/em>\u00a0gaining traction with investors.<\/p>\n \u201c\u2026 the most furious part of the [silver] rally may be ahead,\u201d says Alex Kuptsikevich, FxPro senior market analyst.<\/p>\n \u201cSilver could be ready to repeat the growth spurt it showed in 2010-2011.\u201d<\/p>\n All up, we had 13 resources winners with gains above 100% in May, which is the best result for a long time.<\/p>\n Interesting stat: 13 out of the 50 top performers this month were engaged in a project acquisition, M&A activity, or joint venture with a major miner.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Scroll or swipe to reveal table. Click headings to sort.<\/strong><\/em><\/p>\n Security Description Last %Mth MktCap COMMODITY FOCUS AGC AGC Ltd 0.465 447% $103,333,333 GOLD, SILVER, COPPER KP2 Kore Potash PLC 0.038 245% $25,014,051 POTASH DY6 DY6 Metals 0.12 173% $4,849,300 RARE EARTHS, NIOBIUM ERW Errawarra Resources 0.115 161% $11,030,877 LITHIUM, GRAPHITE, GOLD FRS Forrestania Resources 0.046 156% $7,442,144 IRON ORE, GOLD ICL Iceni Gold 0.066 154% $18,002,229 GOLD FAL Falcon Metals 0.32 137% $56,640,000 MINERAL SANDS, GOLD BUR Burley Minerals 0.14 115% $21,051,932 IRON ORE, LITHIUM CRS Caprice Resources 0.036 112% $10,053,912 NIOBIUM, RARE EARTHS RC1 Redcastle Resources 0.025 108% $8,207,104 GOLD M4M Macro Metals Limited 0.035 106% $125,946,867 IRON ORE SER Strategic Energy 0.02 100% $11,959,939 COPPER, GOLD, NICKEL CBH Coolabah Metals 0.077 83% $9,271,283 FLUORITE EMU EMU NL 0.032 78% $2,159,775 COPPER ILT Iltani Resources Lim 0.335 72% $11,393,519 SILVER, INDIUM, COPPER, ZINC, TIN SVY Stavely Minerals Ltd 0.047 68% $17,951,184 COPPER, GOLD ENT Enterprise Metals 0.005 67% $4,423,605 HEAVY MINERALS, RARE EARTHS, TITANIUM IND Industrial Minerals 0.25 67% $16,846,200 QUARTZ, SILICA SAND PEC Perpetual Resources 0.015 67% $9,600,441 RARE EARTHS, LITHIUM EQN Equinox Resources 0.355 65% $43,842,501 RARE EARTHS, IRON ORE BM8 Battery Age Minerals 0.165 65% $15,348,983 LITHIUM, ZINC, GERMANIUM BMR Ballymore Resources 0.205 64% $36,229,770 GOLD CCZ Castillo Copper Ltd 0.008 60% $10,396,043 COPPER MDX Mindax Limited 0.053 56% $108,585,540 IRON ORE, GOLD RR1 Reach Resources Ltd 0.014 56% $12,242,039 RARE EARTHS, NIOBIUM, LITHIUM GIB Gibb River Diamonds 0.048 55% $10,152,453 GOLD, DIAMONDS KOB Koba Resources 0.15 55% $23,784,242 URANIUM AQD Ausquest Limited 0.017 55% $14,027,537 IRON ORE, COPPER, GOLD TOR Torque Met 0.2 54% $36,645,760 GOLD, LITHIUM SUM Summit Minerals 0.23 53% $10,961,139 NIOBIUM, RARE EARTHS GBE Globe Metals & Mining 0.058 53% $39,200,320 NIOBIUM OZZ OZZ Resources 0.05 52% $4,626,506 GOLD AOA Ausmon Resorces 0.003 50% $3,176,998 RARE EARTHS, COBALT, LEAD ZINC, SILVER, COPPER IEC Intra Energy Corp 0.003 50% $5,072,345 GOLD, LITHIUM MRQ MRG Metals Limited 0.0015 50% $3,787,678 HEAVY MINERALS, LITHIUM, PHOSPHATE LGM Legacy Minerals 0.25 47% $26,363,749 COPPER, GOLD HRZ Horizon 0.047 47% $32,946,233 GOLD KTA Krakatoa Resources 0.016 45% $7,553,716 NIOBIUM, RARE EARTHS GSR Greenstone Resources 0.013 44% $17,852,345 GOLD MGT Magnetite Mines 0.39 44% $38,389,465 IRON ORE CHW Chilwaminerals 0.57 44% $26,148,751 HEAVY MINERALS A8G Australasian Metals 0.092 44% $4,795,085 QUARTZ, LITHIUM KCC Kincora Copper 0.056 44% $11,478,291 COPPER, GOLD T88 Taitonresources 0.1 43% $5,377,454 MOLYBDENUM, QUARTZ MMC Mitremining 0.705 42% $78,950,931 SILVER, GOLD KRM Kingsrose Mining Ltd 0.052 41% $39,131,379 NICKEL, COPPER, COBALT POL Polymetals Resources 0.4 40% $65,904,266 SILVER, ZINC VUL Vulcan Energy 4.74 40% $817,346,788 LITHIUM AQX Alice Queen Ltd 0.007 40% $4,836,930 COPPER, GOLD SS1 Sun Silver 0.54 170% $38,000,000 SILVER, GOLD <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n AUSTRALIAN GOLD & COPPER (ASX:AGC)<\/a> +447%<\/strong><\/p>\n Timing its run perfectly with silver\u2019s meteoric rise was NSW explorer AGC, which announced a slew of rich hits from its Achilles gold-silver discovery including a highlight 5m grading 16.9g\/t gold, 1,473g\/t silver, and 15% lead+zinc.<\/p>\n That\u2019s super high grade.<\/p>\n It is the culmination of a few years of boring exploration legwork for AGC, starting in 2021 when it drilled into several large zones of anomalous lead, zinc and copper around Achilles.<\/p>\n \u201cAchilles is producing some exceptional grades in the drill bit,\u201d AGC MD Glen Diemar said.<\/p>\n \u201cThe first six holes have produced grades including combined lead and zinc to 38%, gold to 45g\/t and silver above 3,000g\/t.<\/p>\n \u201cThis silver result is so high grade the laboratory is sending the sample to Canada for further analysis, which is a rare occurrence.<\/p>\n \u201cWe are extremely happy with how Achilles is taking shape. With drilling now spread across more than half a kilometre of strike we are excited to see how big this can get.\u201d<\/p>\n Enjoy the nearology glow last month was Strategic Energy Resources (ASX:SER)<\/strong><\/a>, which has a target confusingly named \u2018Achilles 1\u2019<\/a> 8km away from AGC\u2019s discovery.<\/p>\n\n <\/span>\u00a0<\/p>\n SUN SILVER (ASX:SS1)<\/a> +170%<\/strong><\/p>\n The pickings for quality silver exposure on the ASX are fairly slim.<\/p>\n Bringing some shine to the ASX last month was\u00a0Sun Silver (ASX:SS1),<\/strong>\u00a0which closed its IPO early after raising the maximum $13m in mere days before going +170% in its first month on the bourse.<\/p>\n The focus is Maverick Springs, an advanced, high grade 292Moz silver-equivalent resource at 72.4g\/t (175.7Moz silver, 1.37Moz gold) in the tier 1 jurisdiction of Nevada.<\/p>\n It is just off the southeast end of the Carlin Trend belt of monster gold-silver deposits, and a proverbial stone\u2019s throw from Kinross\u2019 3.7Moz Bald Mountain gold mine.<\/p>\n Maverick Springs\u2019 large, continuous body of silver-gold mineralisation is 2.4km long, up to 1.2km wide, and between 30-110m thick. The deposit starts about 130m below surface.<\/p>\n SS1 reckons there\u2019s more where this came from, with the current mineralisation model covering less than 25% of the property area.<\/p>\n IPO funds will be used for infill drilling (to increase resource confidence), resource expansion, mining studies, and downstream opportunities.<\/p>\n READ: <\/strong>Silver\u2019s Perfect Storm<\/a><\/strong><\/p>\n\n <\/span>\u00a0<\/p>\n FALCON METALS (ASX:FAL)<\/strong><\/a> +137%<\/strong><\/p>\n The\u00a0Chalice Mining (ASX:CHN)<\/strong><\/a>\u00a0spinout has been plugging away at the Pyramid Hill gold project in Victoria,\u00a0CHN\u2019s No 1 focus<\/strong><\/a>\u00a0before it hit the motherlode at Julimar.<\/p>\n But FAL, notably chaired by Mark Bennett,\u00a0discoverer of the Nova nickel<\/strong><\/a> deposit, scored an unexpected rerate last month when it stumbled upon a large, shallow, and high grade heavy minerals sands deposit.<\/p>\n A shallow drilling at the Farrelly prospect hit thick, high grade minerals sands \u2014 including zircon, ilmenite, rutile, and potential rare-earth element bearing monazite and xenotime \u2014 over a 1.2km by 600m area.<\/p>\n It remains open in several directions, the company says.<\/p>\n \u201cWhile it is early days in our understanding of Farrelly, with more drilling and test work required, it is shaping up to become a significant mineral sands deposit, in proximity to other major deposits, but at far higher grades,\u201d MD Tim Markwell says.<\/p>\n \u201cImportantly, we have not yet defined the limits of the high-grade zone and drilling to test this is expected to recommence in the summer once harvesting is completed, in parallel with our gold exploration at Pyramid Hill.\u201d<\/p>\n\n \ufeff<\/span><\/span>\u00a0 The post Who Made the Gains? Here are May\u2019s top ASX miners and explorers<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Most popular commodities for May:<\/h2>\n\n
Here are the top 50 ASX resources stocks for the month of May >>><\/strong><\/h2>\n
Small Cap Standouts<\/h2>\n
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