Guess which little ASX All Ords mining share is up 75% in a month

Investors have been bidding up the ASX All Ords mining share on the back of a series of promising announcements.

| More on:
A man in a hard hat gives a thumbs up as he holds a clipboard in one hand against a blue sky background.

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

A little-known ASX All Ords share has been setting the bar high over the past weeks.

Despite today's slide, the All Ordinaries Index (ASX: XAO) is up 4% since this time last month.

But this ASX All Ords mining share has gained a whopping 75% in that same time.

In fact, it really only began rocketing higher less than two weeks ago, on 27 July, with shares up 78% since then.

Any guesses?

If you said Australian Strategic Materials Ltd (ASX: ASM), go to the head of the virtual class.

Created with Highcharts 11.4.3Australian Strategic Materials PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.com.au

The Australian Strategic Materials share price is on a tear again today, up 13.7% in early afternoon trade on Monday.

What's been sending this ASX All Ords share rocketing?

Investors really began to bid up the Australian Strategic Materials share price after the miner reported it had signed a non-binding Memorandum of Understanding (MOU) with Blackstone Minerals Ltd (ASX: BSX) and Vietnam Rare Earth Company.

The All Ords share closed up 18.6% on 27 July.

According to the miner, the three-way agreement will enable the companies to collaborate across a number of areas. Those include identifying, assessing and securing rare earths element (REE) mining opportunities in Vietnam, as well as securing long-term offtake of REE oxides.

"This MOU has the potential to drive a more collaborative approach within the rare earth elements and critical minerals sector and deliver positive outcomes for all parties involved," Australian Strategic Materials CEO Rowena Smith said.

Investors were presented with more promising news from the ASX All Ords share last week, on 3 August, when the miner reported on a five-year binding sales and tolling framework agreement with USA Rare Earth.

The agreement will see Australian Strategic Materials supply neodymium iron boron (NdFeB) alloy to support USA Rare Earth's production of rare earth magnets. Supplies are expected to commence in 2024.

Commenting on the agreement, Smith said:

As we continue to increase our metal production output from our Korean Metals Plant, this long-erm supply agreement demonstrates the growing demand and positive trajectory of the US rare earth magnet market.

Tom Schneberger, CEO of USA Rare Earth, added, "Having a supply agreement in place with ASM plays a critical role in delivering on our vision of achieving magnet production in 2024."

Australian Strategic Materials share price snapshot

The Australian Strategic Materials share price remains down 50% over 12 months.

But with the past weeks' big gains in the bag, the ASX All Ords mining share is now up 48% in 2023.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bernd Struben 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 Share Gainers

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was the ASX's fourth day of gains for the week today.

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Share Gainers

Why Cedar Woods, Healius, NextDC, and Platinum shares are charging higher today

These shares are rising on Thursday. But why are investors buying them? Let's find out.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Share Gainers

These were the best-performing ASX 200 shares in April

These shares were in fine form in April. Let's see why they outperformed.

Read more »

Hiker man backpacker with hands up in the summer mountains with cloudy sky.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX made it three from three.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Cedar Woods, Orthocell, PEXA, and St Barbara shares are storming higher today

These shares are having a good session on hump day. But why?

Read more »

Three happy team mates holding the winners trophy.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 continued its good form this Tuesday.

Read more »

Man looking happy and excited as he looks at his mobile phone.
Share Gainers

Why Beach Energy, Boss Energy, Fortescue, and Mineral Resources shares are racing higher

These shares are rising more than most on Tuesday. But why?

Read more »

Man smiling on top of rocks with mountains in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors started the week on a strong footing today.

Read more »