These 3 ASX mining shares leapt more than 10% on Friday

And they’re all lithium miners.

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An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted by the gains of ASX mining shares

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Key points

  • These three ASX mining shares had a great day today - all up by more than 10% 
  • All of them are in the red-hot lithium space 
  • By comparison, the S&P/ASX 200 Resources Index underperformed with an 0.44% gain  

The broader market traded in the green on Friday and these ASX mining shares made the most of it.

As of Friday’s close, the All Ordinaries Index (ASX: XAO) and the S&P/ASX 200 Index (ASX: XJO) were both up 1.1%. Meanwhile, the S&P/ASX 200 Resources Index (ASX: XJR) underperformed, recording a gain of just 0.44%.

But these ASX miners didn’t let their sector’s poor performance slip them up. They each surged more than 10% in Friday’s trade. Let’s take a look at what boosted them today.

These ASX mining shares surged more than 10% today

Firefinch Ltd (ASX: FFX)

The Firefinch share price lifted to an intraday high of $1.14 today, representing a 17.5% gain.

It came as the ASX mining company released details on its plan to demerge its lithium assets.

The prospectus for the new company ­– to be named Leo Lithium – dropped this morning.

Firefinch shareholders will be granted one Leo Lithium share for every 1.4 Firefinch shares held. They can also choose to participate in a pro-rata offer.

The demerger scheme will face a shareholder vote next month.

Lithium Plus Minerals Ltd (ASX: LPM)

ASX mining newbie Lithium Plus rocketed 13% to an intraday high of $1.04.

The company listed on the ASX on Tuesday. Amazingly, its share price went 266% higher than its IPO’s offer price of 25 cents over its first three days of trading.

Lithium Energy Ltd (ASX: LEL)

The third ASX mining share to take off on Friday is Lithium Energy. Its share price lifted 23.7% to $1.51 at its highest point – a new all-time high.

There’s been no news from the company today. However, it announced yesterday that it’s been given the governmental green light to start work at its Solaroz Lithium Brine Project.

Motley Fool contributor Brooke Cooper 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.

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