3 ASX mining shares rocketing higher on project developments

We take a look at why the shares of these three explorers are surging.

| More on:
three young children weariing business suits, helmets and old fashioned aviator goggles wear aeroplane wings on their backs and jump with one arm outstretched into the air in an arid, sandy landscape.

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

Key points

  • These three ASX mining shares are soaring more than 10% today
  • The companies are exploring minerals including cobalt, copper, nickel, gold and manganese  
  • The ASX 200 Materials Index is rising nearly 1% today 

These three ASX mining shares are exploding higher than the S&P ASX 200 Materials Index (ASX: XMJ) today.

Kuniko Ltd (ASX: KNI), Dundas Minerals Ltd (ASX: DUN) and Element 25 Ltd (ASX: E25) shares are all rocketing ahead today. The ASX 200 Materials Index is up 0.94% today.

So why are these ASX mining shares having such a stellar day?

Kuniko

Kuniko shares are soaring 11% today. The company is exploring the Skuterud Cobalt project in Norway. Drill assay results showed "significant cobalt mineralisation". Copper was also identified. Kuniko plans to conduct further drilling at the site to unlock the "promising upside" of the project.

Commenting on the news, CEO Antony Beckmand said:

We are increasingly confident the results are supporting the potential for identifying cobalt-copper rich zones at a large scale.

Element 25

Element 25 shares are soaring 17% today. The company updated investors on plans to produce high purity battery grade manganese sulphate from the company's Butcherbird Project. A feasibility study is on schedule for completion in December. Element 25 is also in discussions with potential offtake partners. Furthermore, the company highlighted how it could qualify for clean energy and electric vehicle incentives in the USA Inflation Reduction Act.

Element 25 had this to say regarding the news:

Importantly for Element 25 investors, qualifying FTA countries include Australia and qualifying critical minerals include manganese.  

Dundas Minerals

Dundas shares are soaring 45% today. Earlier today, the company's share price exploded 100%. Dundas is exploring nickel, copper, cobalt and gold in Western Australia. Drilling at the site intersected with massive and disseminated sulphides along with sulphidic quartz veins.

Commenting on the news, managing director Shane Volk said:

Given the results from hole 1, we'd expect to intercept sulphides again in hole 2.

Motley Fool contributor Monica O'Shea 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 Scott Phillips.

More on Materials Shares

A group of miners in hard hats sitting in a mine chatting on a break as ASX coal shares perform well today
Materials Shares

Down but not out: Can these ASX mining shares bounce back?

Here’s what one broker is predicting for Australia’s largest mining companies. 

Read more »

Broker analysing the share price.
Materials Shares

Buy, hold, or sell? Broker's verdict on 3 ASX 200 materials shares

Materials was one of four market sectors that weakened in overall value in FY25.

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Materials Shares

Why is this ASX mining stock crashing 14% today?

Let's see what is causing investors to hit the sell button on Monday.

Read more »

Three miners stand together at a mine site studying documents with equipment in the background
Materials Shares

$10,000 invested in BHP shares in FY25 is now worth

Did the Big Australian outperform or underperform during the last financial year?

Read more »

A male investor sits at his desk pondering at his laptop screen with a piece of paper in his hand.
Share Market News

Why did Macquarie just downgrade Liontown resources shares?

Here’s what the broker had to say about this materials company. 

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Materials Shares

Why did Macquarie downgrade Mineral Resources shares?

The broker is no longer bullish on this mining and mining services company.

Read more »

A bricklayer peers over the top of a brick wall he is laying with a level measuring tool on top and looks critically at the work he is carrying out.
Materials Shares

Brickworks shares rise 1% on trading update

Investors seem delighted by a new update from Brickworks.

Read more »

A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.
Materials Shares

Does Macquarie prefer Rio or BHP shares today?

Let's find out which mining giant is the better pick right now according to the broker.

Read more »