Charger Metals (ASX:CHR) share price is powering 28% today, up 240% in a month

The company's shares have been a standout performer since last month.

Galan share price Bright neon blue and black graphic of a battery cell

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Charger Metals NL (ASX: CHR) share price is continuing its impressive run since last week. In just 6 trading days, the lithium-focused minerals company has gained an astonishing 142% for investors.

At the time of writing, Charger Metals shares are up 28.95% to 73.5 cents. When you compare that to the All Ordinaries Index (ASX: XAO), the All Ords is just flat at 7,857 points.

What's driving the Charger Metals share price higher?

While no news came out of the company today, investors may be wondering what's causing its shares to power ahead.

Before market open yesterday, Charger Metals released a statement to the ASX providing an update on its Bynoe Lithium Project.

The company advised that exploration activities have commenced, with field crews mobilised to expand mapping and geochemical sampling. So far, 14 pegmatite anomalies have been identified within a 5-kilometre-long zone from existing geochemistry results.

It's worth noting that 50% of the tenement has not yet been geochemically sampled. At the end of August, a detailed aeromagnetic survey will be flown to provide more clarity on the spodumene deposits.

Charger Metals managing director, David Crook said:

Charger Metal's programmes of mapping, geochemistry and aero-magnetics now underway at the Bynoe Lithium Project are designed to refine the 5-kilometre-long cluster of lithium targets to a point where a substantial drilling programme can be planned.

Quick take on Charger Metals

Founded in 2020, Charger Metals is an Australian-based minerals company that operates in Western Australia and the Northern Territory.

The company owns a 70% interest in the Bynoe Lithium Project, with the remaining 30% held by Lithium Australia NL (ASX: LIT). The site is located within the Bynoe Pegmatite Field forming part of the much larger Litchfield Pegmatite Belt in Northern Territory.

Charger Metals also has majority interests in the Coates Project and the Lake Johnston Lithium and Gold Project, both in Western Australia.

Since listing on the ASX boards on 9 July, the Charger share price has gained almost 270%. In the past month alone, the company's shares are up 240%.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A cute young girl with curly hair sips a glass of milk through a straw with a smile on her face.
Broker Notes

Up 37% this year, why Macquarie expects A2 Milk shares to keep outperforming

Macquarie remains bullish on A2 Milk shares heading into 2026. Let’s see why.

Read more »

Woman and man calculating a dividend yield.
Share Market News

Big week for markets: Here's what to watch

Tech earnings, rate speculation, and Aussie inflation data could shake markets this week — but long-term investors should keep their…

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

dissapointed man at falling share price
Share Fallers

Why Boss Energy, Elsight, Pilbara Minerals, and Whitehaven Coal shares are falling today

These shares are starting the week in the red. But why?

Read more »

An older female ASX investor holds a gangster-style fist pump pose showing off gold rings with dollar signs on them.
Broker Notes

Why Macquarie forecasts Northern Star shares are set to surge 55%

Macquarie believes Northern Star shares are well-placed to rocket higher.

Read more »

A group of people gathered around a laptop computer with various expressions of interest, concern and surprise on their faces. All are wearing glasses.
Share Market News

ASX 200 tech stock near record high, is it still a buy?

This company's soaring share price and rising profits are turning heads.

Read more »

Excited couple celebrating success while looking at smartphone.
Share Gainers

Why Bellevue Gold, Bubs, Clarity Pharmaceuticals, and Regal Partners shares are rising today

These shares are starting the week on a positive note.

Read more »

Two people lazing in deck chairs on a beautiful sandy beach throw their hands up in the air.
Travel Shares

Guess which ASX All Ords travel stock just rocketed 17% on an earnings upgrade

Investors are piling into the ASX All Ords travel stock today. Here's what's happening.

Read more »