This trio of ASX mining shares set new 52-week highs today amid the S&P/ASX All Ordinaries Index (ASX: XAO) tumbling 0.34% to close at 7,730.6 points.
Let's check them out.
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3 ASX mining shares reaching for the stars on Thursday
Champion Iron Ltd (ASX: CIA)
This ASX mining share reached a new all-time record high of $8.75 on Thursday. Champion Iron is benefitting from the strengthening iron ore price on the back of new economic stimulus in China designed to boost new infrastructure and manufacturing investment.
The iron ore price lifted by 0.35% in overnight trading to US$145 per tonne. There was a near-20% increase in the commodity price over 2023. There is no news out of the ASX 200 miner today.
WA1 Resources Ltd (ASX: WA1)
WA1 Resources shares skyrocketed by 789% in 2023, making it one of the top-performing ASX All Ords shares of the year. The ASX mining share reached an all-time high of $14.80 today. There was no news from the niobium explorer on Thursday.
However, its drilling results sure generated a lot of excitement among investors last year. The company reported "the potential for a large mineralised carbonatite system" at its West Arunta Project in Western Australia.
WA1 managing director Paul Savich said: "Shallow mineralisation has now been confirmed over a broad area …" Ferroniobium is a micro-alloy that makes steel stronger. It is used in the manufacture of wind turbines and oil and gas pipelines.
Meteoric Resources NL (ASX: MEI)
Meteoric Resources shares hit a 52-week peak of 30 cents per share today despite no news from the miner. The company has iron, gold, copper, and nickel projects in Brazil, Canada, Western Australia, and the Northern Territory.
Last year, it acquired the tier-1 rare earths project, Caldeira in Brazil, and released excellent drilling results in December. Management described "remarkable" mineralisation in the assay results from 277 aircore holes at the Soberbo Deposit within Caldeira.
Meteoric attracted a speeding ticket from the ASX yesterday after the mining share rose from 25 cents to 29 cents during the day. Meteoric said it was unaware of any reason for the share price increase. It noted that it was expecting to receive the next round of diamond drill assay results in the week of 22 January.
