These three mining companies posted strong gains on Monday delivering shareholders with gains of around 10 per cent or more.
Clean TeQ Holdings Limited (ASX: CLQ)
Clean TeQ Holdings continues to deliver shareholders strong returns, gaining almost 10 per cent on Monday with its shares now trading for $1.65.
The company’s share price has surged over the past year, gaining more than 250 per cent.
The nickel and cobalt company says it’s on a mission to produce metals that “are highly geared to disruptive changes in technologies and markets, particularly in global energy and transport”.
Clean TeQ Holdings, with a market capitalisation of about $957 million, reported a loss of more than $12 million for financial year (FY) 2017.
That didn’t stop Deutsche Bank last month upgrading its price target of Clean Teq shares to $1.60, a figure that has since been surpassed.
Yancoal Australia Ltd (ASX: YAL)
The Yancoal Australia share price continued its comeback on Monday, gaining another 10 per cent.
The Yancoal share price, currently trading for around 16 cents, has gained 60 per cent since it dropped to 10 cents in December.
But it’s not all good news for Yancoal shareholders who watched their stock in the company sink over the past year.
The coal miner’s shares were going for more than 30 cents a year ago.
Yancoal, with a market value exceeding $7 billion, is hoping to cash in on rising coal prices and improved demand in China and other Asian markets including Japan and India.
Perseus Mining Limited (ASX: PRU)
The Perseus Mining Limited share price gained more than 11 per cent as the company announced it’s making progress with its gold mine in Côte d’Ivoire.
Perseus announced that gold from the mine is expected to be produced this month, ahead of schedule, with commercial production said to be achieved by the end of March.
The company stated that it expects to produce 358,000 ounces over the life of the mine, including approximately 80,000 ounces per annum for the first three-and-a-quarter years.
For FY 2017, the company reported a loss exceeding $76 million, more than double the previous year’s loss.
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Motley Fool contributor Steve Holland has no position in any of the 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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