It's a sunny day on the ASX. The benchmark All Ordinaries Index (ASX: XAO) is gaining 0.51% at the time of writing. But that's nothing compared to the surges being recorded by these ASX mining shares.
Let's take a look at three ASX materials and resources stocks soaring as high as 18% on Thursday.
Image source: Getty Images
3 ASX mining shares taking to the skies today
First up, the Patriot Battery Metals Inc (ASX: PMT) share price is taking off today. It's lifting 29% right now to trade at $1.13.
Its surge follows news the lithium developer has identified the highest-grade intercept yet at its Corvette Property in Quebec, Canada.
Drilling at the project returned 156.9m at 2.12% lithium oxide, including 25m at 5.04% lithium oxide or 5m at 6.36% lithium oxide.
Patriot Battery Metals floated on the ASX in early December following a $4.2 million initial public offering (IPO).
Joining the lithium share to post a whopper of a gain today is a slightly unusual mining company. The Minbos Resources Ltd (ASX: MNB) share price is up 18% right now, trading at 13 cents.
ASX market watchers are likely used to seeing mining companies digging for metals.
Minbos, on the other hand, is digging for phosphate rock – a key ingredient in some fertilisers.
It's also building a plant to produce enhanced phosphate rock granules, which will become feed stock for fertiliser designed for the Angolan agricultural sector.
Today, the company announced the fertiliser plant and equipment were on their way to the African nation, with the first shipments having already arrived.
Additionally, it said initial construction activities at its Cácata phosphate deposit remained on target and within budget.
The final mining share posting a whopping gain today is Aruma Resources Ltd (ASX: AAJ). The stock is up 20.2% right now, trading at 9.5 cents.
Interestingly, there's been no news from the tiny lithium hopeful to explain today's rise.
The last time the market heard anything from the company was last week when it released a positive update on assay results from its Mt Deans Lithium-Rubidium Project.
