Here's why the Chalice Mining (ASX:CHN) share price is racing higher today

Chalice is rising again…

| More on:
A graphic image of three upward pointing arrows with smoke coming from their bottoms, indicating the arrows are taking off just like the Althea share price today

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

After spending much of the day in the red, the Chalice Mining Ltd (ASX: CHN) share price has bounced back in afternoon trade.

At the time of writing, the mineral exploration company's shares are up 4% to $9.09.

Why is the Chalice Mining share price charging higher?

The catalyst for the rise in the Chalice Mining share price today was the release of an announcement this afternoon.

According to the release, the Government of Western Australia has approved the stage two Conservation Management Plan (CMP) for initial low-impact drilling at the Hartog and Baudin targets at its 100%-owned Julimar Ni-Cu-PGE Project.

The release explains that the CMP sets out strict environmental requirements governing initial low-impact drilling activity at the priority targets located within the Julimar State Forest. The good news is that no mechanised clearing of vegetation is required to access drill sites and vegetation disturbance will be avoided where possible by using existing recreational tracks.

Chalice also highlights that it has conducted extensive flora and fauna surveys covering an area of ~5,700ha to inform the company's drilling program. A key condition of the CMP includes monitoring by qualified fauna observers throughout the program to ensure there is no direct impact to wildlife. Furthermore, cultural heritage surveys and advice received from Yued and Whadjuk Traditional Owner groups have confirmed that no cultural heritage sites will be affected by the drilling program.

If all goes to plan with the drilling, Chalice could grow the already incredible mineral resource of the Julimar Ni-Cu-PGE Project.

In November, the company defined a tier-1 scale, pit-constrained maiden resource for the Gonneville deposit at Julimar.

The maiden indicated and inferred, pit constrained, mineral resource estimate was for 10Moz of palladium, platinum, and gold, 530kt of nickel, 330kt of copper and 53kt of cobalt. This makes it the largest nickel sulphide discovery in over 20 years and the largest platinum-group elements (PGE) discovery in Australian history.

Management believes that this establishes the foundation for a world-class green metals project.

Should you invest $1,000 in Magellan Financial Group right now?

Before you buy Magellan Financial Group shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Magellan Financial Group wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 6 March 2025

Motley Fool contributor James Mickleboro 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 Resources Shares

A white EV car and an electric vehicle pump with green highlighted swirls representing ASX lithium shares
Resources Shares

Is the lithium price set to rise?

The past few years have been a bit grim for the ASX’s lithium shares. But things look set to change.

Read more »

Female miner standing next to a haul truck in a large mining operation.
Resources Shares

Australia's iron ore export earnings to slide, Government report warns

The future may no be so bright for Australia’s iron ore miners.

Read more »

Miner looking at a tablet.
Resources Shares

What happened with the BHP share price in March?

How did the BHP share price perform amid the March market sell-off?

Read more »

A female miner wearing a high vis vest and hard hard smiles and holds a clipboard while inspecting a mine site with a colleague.
Resources Shares

3 reasons why the Rio Tinto share price could be a buy

Let’s dig into why I like this ASX mining share.

Read more »

Image of young successful engineer, with blueprints, notepad and digital tablet, observing the project implementation on construction site and in mine.
Resources Shares

3 things about BHP stock every smart investor knows

There’s a lot more to BHP than just being an iron ore miner.

Read more »

Business people standing at a mine site smiling.
Resources Shares

Here's the latest earnings forecast out to 2029 for Rio Tinto shares

Here’s how much profit Rio Tinto could make in the next few years.

Read more »

Four happy team members working together in a warehouse.
Resources Shares

Why today is great day to own BHP shares

The mining giant's shareholders have reasons to smile on Thursday.

Read more »

A smiling miner wearing a high vis vest and yellow hardhat does the thumbs up in front of an open pit copper mine.
Resources Shares

ASX 200 copper stocks jump as the red metal smashes new records

ASX 200 copper stocks are in the spotlight as global copper markets go off the scale.

Read more »