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Why these 3 ASX shares are up over 400% in the last 12 months

It certainly has been a great 12 months for the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO). During this time the index has managed to put on a gain of 16.6%.

But as impressive as it has been, it still doesn’t come close to the gains that some shares on the index have made during the period.

Here’s why these three shares have gained over 400% in the last 12 months:

The Clean TeQ Holdings Limited (ASX: CLQ) share price has risen an astonishing 535% in the last 12 months thanks to the cobalt boom. Investors have been fighting to get hold of its shares due to the metals recovery company’s Syerston project in New South Wales. The mineral deposit is one of the largest and highest grade sources of cobalt outside Africa. Although production is some way off, if demand for the metal continues to remain strong then I believe Clean TeQ is in a great position to profit.

The Kidman Resources Ltd (ASX: KDR) share price has jumped 448% since this time last year. The key driver of this gain has been the company’s discovery of its world-class Earl Grey lithium deposit in Western Australia. Its share price received an additional boost recently after Kidman announced plans to acquire lithium rights through an earn-in agreement with Western Areas Ltd (ASX: WSA). Management believes that consolidating the world-class lithium belt will maximise the exploration and production potential, while minimising costs. If lithium prices remain high then I feel Kidman might just live up to the high expectations of the market.

The Whitehaven Coal Ltd (ASX: WHC) share price has rocketed 400% in the last 12 months thanks to the surprise rebound in coal prices. A significant cut to Chinese production and increased demand from steelmakers has been behind the recovery in prices. Whitehaven Coal was given another boost this week in the aftermath of Cyclone Debbie when supply disruptions in Queensland led prices to spike. I’m not confident coal prices will be able to hold onto the current high prices for much longer, which I think could see its shares come under a spot of selling pressure.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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