It’s a good day on the market for ASX commodities shares, and these 3 All Ordinaries Index (ASX: XAO) stocks are making the most of it.
These commodity-producing shares have each taken off to hit new multi-year or all-time highs.
So, what’s been driving them upwards on Friday? Let’s take a look.
3 ASX All Ords commodities shares beating records on Friday
Firefinch Ltd (ASX: FFX)
The Firefinch share price has been flying higher lately, having gained 64% over the last 30 days.
That gain has continued today, with the company’s stock surging 9.5% to a new multi-year high of $1.15 in intraday trade.
Today’s boost has been driven by news of the company’s Goulamina Lithium Project.
The project’s joint venture company has received US$130 million of funding from its 50% owner Jiangxi Ganfeng Lithium.
Firefinch is planning to ultimately divest its holding in the project as part of a proposed demerger.
Neometals Ltd (ASX: NMT)
The Neometals share price is also taking off on Friday, launching 11.9% to reach $1.97 at its highest point of today’s session so far.
That gain also saw the ASX All Ords commodity stock reach an all-time high.
The last time the market heard news from the vanadium producer and lithium recycler was on Tuesday.
Then, it released news of its joint venture, Primobius, which had opened its German commercial lithium-ion battery recycling facility.
However, the company’s latest gains might be more to do with its work in the vanadium sphere.
As The Motley Fool Australia’s Sebastian Bowen reported yesterday, the element has been the talk of the town on the ASX.
That might be drawing attention to the stock and potentially buoying its share price.
Argosy Minerals Limited (ASX: AGY)
The final ASX All Ords commodity share to be reaching new heights on Friday is Argosy Minerals.
The lithium miner’s stock surged 8.5% earlier today to trade at a new all-time high of 51 cents.
The gains followed news of the company’s Rincon Project – its lithium carbonate production operation.
67% of the development works at the project have now been completed and production is on track to begin in the middle of this year.