Uranium prices have launched into 2024 in the same bullish fashion as 2023; stocks are now responding
\nIn a weak month for resources stocks overall, 19 ASX companies in our January top 50 had uranium exposure
\nLarge Cap Winners: Energy Resources of Australia, Deep Yellow, Lotus, Bannerman
\nSmall Cap Standouts: Koba, Aspire, White Cliff<\/p>\n
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In 2023 and 2024 uranium prices are soaring, as predicted \u2014 albeit a few years later than many expected.<\/p>\n
What wasn\u2019t necessarily predicted were some other industry tailwinds, like widespread global political support for new nuclear buildouts, Russia\u2019s fall from grace, and the inability for producers like global #1 Kazatomprom to hit production targets.<\/p>\n
Frustrating for uranium lovers has been the sluggish response to this parabolic price action from yellowcake stocks.<\/p>\n
In 2023 there was no froth in the market. Despite the spot price action \u2013 up a barely believable 102% \u2014 only 3 uranium stocks made our top 50 for the year.<\/a><\/p>\n It has launched into 2024 in the same bullish fashion and stocks are now responding.<\/p>\n Monthly spot price (blue), long term price (grey). Source: Cameco, via UxC and TradeTech<\/p>\n You can read more about January\u2019s commodity winners (and losers) in Up, Up, Down Down.<\/a><\/strong><\/p>\n In a weak month for resources stocks overall, 19 ASX companies in our January top 50 had uranium exposure \u2014 a new record for Gains \u2014 across the spectrum from $5m tiddler to +$1bn mainstay.<\/p>\n\n \u00a0<\/p>\n Scroll or swipe to reveal table. Click headings to sort.<\/strong><\/em><\/p>\n CODE COMPANY JANUARY RETURN SHARE PRICE MARKET CAP COMMODITIES KOB Kobaresourceslimited 121% 0.155 $16,339,583 URANIUM, LITHIUM AKM Aspire Mining Ltd 105% 0.215 $109,141,952 COAL EEL Enrg Elements Ltd 83% 0.011 $11,109,615 URANIUM, LITHIUM FHS Freehill Mining Ltd. 83% 0.011 $32,932,179 GOLD, INDUSTRIAL WCN White Cliff Min Ltd 78% 0.016 $21,373,749 COPPER, URANIUM ERA Energy Resources 65% 0.061 $1,351,046,250 URANIUM CBE Cobre 64% 0.072 $20,657,592 COPPER, GOLD, SILVER CXU Cauldron Energy Ltd 63% 0.039 $44,979,563 URANIUM PXX Polarx Limited 57% 0.011 $18,035,785 COPPER, GOLD BMG BMG Resources Ltd 55% 0.017 $10,774,552 LITHIUM, GOLD BSN Basinenergylimited 54% 0.185 $11,521,801 URANIUM EMU EMU NL 50% 0.0015 $3,037,157 COPPER, SILVER A1G African Gold Ltd. 48% 0.04 $6,772,448 GOLD SMI Santana Minerals Ltd 47% 1.48 $263,190,632 GOLD CZR CZR Resources Ltd 45% 0.305 $71,899,067 IRON ORE EQX Equatorial Res Ltd 44% 0.18 $23,660,164 IRON ORE VMS Venture Minerals 43% 0.01 $22,100,130 IRON ORE, RARE EARTHS DAF Discovery Alaska Ltd 42% 0.027 $6,324,337 GOLD CPO Culpeominerals 40% 0.049 $6,653,746 COPPER NMR Native Mineral Res 40% 0.028 $5,873,014 COPPER, LITHIUM VAR Variscan Mines Ltd 40% 0.014 $5,306,005 ZINC, LEAD GTR Gti Energy Ltd 38% 0.011 $22,549,418 URANIUM EL8 Elevate Uranium Ltd 36% 0.605 $186,610,181 URANIUM MRL Mayur Resources Ltd 36% 0.265 $89,066,817 INDUSTRIAL ARE Argonaut Resources 35% 0.135 $25,627,781 URANIUM NWF Newfield Resources 35% 0.135 $122,740,997 DIAMONDS BMN Bannerman Energy Ltd 35% 3.63 $554,811,995 URANIUM DYL Deep Yellow Limited 34% 1.46 $1,116,387,490 URANIUM E79 E79Goldmineslimited 34% 0.075 $6,100,056 GOLD VAL Valor Resources Ltd 33% 0.004 $16,693,339 URANIUM, RARE EARTHS, LITHIUM IPX Iperionx Limited 31% 1.82 $414,535,418 TITANIUM, ZIRCON, RARE EARTHS DTR Dateline Resources 30% 0.013 $17,284,230 GOLD, RARE EARTHS MKG Mako Gold 30% 0.013 $8,611,322 GOLD, MANGANESE EME Energy Metals Ltd 29% 0.155 $32,500,913 URANIUM AGE Alligator Energy 29% 0.076 $293,535,484 URANIUM CUF Cufe Ltd 29% 0.018 $20,630,023 IRON ORE, LITHIUM, RARE EARTHS RCR Rincon 29% 0.036 $7,961,449 RARE EARTHS, COPPER, GOLD LOT Lotus Resources Ltd 28% 0.365 $631,643,777 URANIUM PAM Pan Asia Metals 28% 0.16 $26,850,684 LITHIUM GUE Global Uranium 28% 0.125 $26,526,122 URANIUM AQD Ausquest Limited 27% 0.014 $11,552,089 COPPER, LITHIUM, NICKEL, ZINC, RARE EARTHS BKY Berkeley Energia Ltd 27% 0.35 $156,028,850 URANIUM NFL Norfolkmetalslimited 26% 0.195 $6,888,374 URANIUM, GOLD PGD Peregrine Gold 25% 0.3 $20,098,944 GOLD PEN Peninsula Energy Ltd 24% 0.13 $267,865,582 URANIUM LEG Legend Mining 21% 0.017 $49,376,112 NICKEL, COPPER AQX Alice Queen Ltd 20% 0.006 $4,145,905 GOLD AS1 Asara Resources Ltd 20% 0.012 $9,512,771 GOLD CRB Carbine Resources 20% 0.006 $3,310,427 SILICA SAND TMR Tempus Resources Ltd 20% 0.006 $4,141,740 GOLD, COPPER <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Energy Resources of Australia (ASX:ERA)<\/a> +65%<\/p>\n Deep Yellow (ASX:DYL)<\/a> +34%<\/p>\n Lotus Resources (ASX:LOT)<\/a> +28%<\/p>\n Bannerman Energy (ASX:BMN)<\/a> +35%<\/p>\n \u00a0<\/p>\n KOBA RESOURCES (ASX:KOB)<\/a> +121%<\/strong><\/p>\n South Australia has become a go-to uranium jurisdiction during this current boom, as speculative stocks look to replicate the success of mine developer\u00a0Boss Energy (ASX:BOE)<\/a>\u00a0and long-time producer Heathgate.<\/p>\n Former lithium play KOB is\u00a0 joining minnows like Marmota (ASX:MEU)<\/a>\u00a0,\u00a0Norfolk Metals (ASX:NFL)<\/a>,\u00a0Power Minerals (ASX:PNN)<\/a>\u00a0and\u00a0Adavale Resources (ASX:ADD)<\/a>\u00a0in the hunt for a uranium company maker in Australia\u2019s third largest state.<\/p>\n KOB will buy an 80% interest in uranium rights at the 4000sqkm Yarramba project from copper-gold play\u00a0Havilah Resources (ASX:HAV)<\/a>\u00a0for 25m shares, and another 10m milestone shares on announcement of a +15Mlb resource.<\/p>\n KOB will need to spend $6m over four years on exploration, with HAV\u2019s 20% interest \u2018free-carried\u2019 until completion of a feasibility study.<\/p>\n Drilling is pencilled in for Q2 this year.<\/p>\n \u201cThe Yarramba project is centred on 4.6 million pounds of U3O8 at the Oban deposit which provides a great foundation on which substantial resources can be built,\u201d KOB boss Ben Vallerine says.<\/p>\n \u201cNo exploration has been undertaken at Yarramba since 2012, therefore the 4,000km2 project provides us excellent opportunities to make sizeable discoveries in close proximity to existing infrastructure.\u201d<\/p>\n Vallerine says the explorer will also \u201caggressively pursue additional uranium assets\u201d.<\/p>\n \u00a0<\/p>\n ASPIRE MINING (ASX:AKM)<\/a> +105%<\/strong><\/p>\n Coal from AKM\u2019s 281Mt Ovoot project in China-adjacent Mongolia has been designated super high quality, or \u201cfat\u201d, making it ideal for steelmaking.<\/p>\n Premium quality coking\/met coals are in great demand by steel producers, as good coke maximises blast furnace productivity.<\/p>\n \u201cWe are very excited by this confirmation which places our coal into the \u2018fat coal\u2019 market, which will attract a hard coking coal premium,\u201d AKM\u2019s Sam Bowles says.<\/p>\n \u201cIn recognition of the distinctly unique qualities of this coal, the company will be branding the coal produced from the OCCP as Toson Coal.<\/p>\n \u201cIn Mongolian, \u2018Toson\u2019 is an adjective meaning \u2018fat\u2019 or \u2018fatty\u2019.\u201d<\/p>\n It is currently working through the approvals process and feasibility studies to move Ovoot towards production by the end of 2025.<\/p>\n In his November chairman\u2019s address Michael Avery told shareholders coking coal demand wasn\u2019t going away.<\/p>\n \u201cOn a world stage, our view is that there is currently minimal capital being invested in the development or expansion of coking coal projects, where green policies are not differentiating between coking and thermal coals,\u201d he said.<\/p>\n \u201cAt the same time, the demand for coking coal continues to increase and remains an irreplaceable input into commercially viable processes of making steel, which is an essential material required to achieve many of the United Nations Sustainable Development Goals.<\/p>\n \u201cIn such context, as a veteran of the coal industry, the prospect of developing the Ovoot Project excites me tremendously.<\/p>\n \u201cIn my view there are few, if any greenfield coking coal deposits equal or better in terms of size, quality, or proximity to market.\u201d<\/p>\n \u00a0<\/p>\n WHITE CLIFF MINERALS (ASX:WCN)<\/a> +79%<\/strong><\/p>\n Another former lithium explorer chasing what\u2019s hot. WCN plans to acquire a historical uranium project in the remote Northwest Territories of Canada called Radium Point, which produced 13.7Mlb uranium, plus silver, copper gold, nickel and lead pre-1982.<\/p>\n According to this doco,\u00a0Port Radium provided 11% of all the uranium used in the Manhattan project<\/a>.<\/p>\n WCN says exploration has been largely non-existent in the area since uranium production ceased in the \u201960s and silver and copper mining stopped in early \u201980s.<\/p>\n Initial exploration will focus on finding extensions to previously exploited orebodies, as well as known outcropping prospects throughout the licence area that have never been followed up.<\/p>\n Radium Point was secured via licence applications and cost the company just CAD$150,000 in shares to a Canadian consultant.<\/p>\n <\/span><\/p>\n The post Who Made the Gains? Here are the top 50 resources stocks for January<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Here are the top 50 ASX resources stocks for the month of January >>><\/h2>\n
January Top Large Caps (+$500m market cap)<\/h2>\n
January Small Cap Standouts<\/h2>\n