3 ASX All Ordinaries mining shares having a terrific Tuesday

These three mining shares are having a stellar day.

| More on:
Happy woman miner with her thumb up signalling Wyloo's commitment to back IGO's takeover of Western Areas nickel

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Three ASX All Ordinaries mining shares are outperforming the index today  
  • These shares are surging up to 9% higher
  • The companies are exploring graphite, gold, lithium, and boron 

The All Ordinaries Index (ASX: XAO) is higher today, but three ASX mining shares are outperforming the index.

The All Ordinaries Index is up 0.27% today to 7,345.8 points. For context, the S&P/ASX 200 Resources Index (ASX: XJR) is 1.25% higher at the time of writing, while the S&P/ASX 200 Materials Index (ASX: XMJ) is 0.86% in the green.

Let’s take a look at three ASX explorers doing well today.

Red 5 Ltd (ASX: RED)

The Red 5 share price is surging 9.09% today. Red 5 is exploring gold at the King of the Hills Gold Project in Western Australia. The spot gold price rebounded 0.8% overnight due to softening US bond yields. The company’s share price has leapt 5% since market close on 11 May. On 12 May, Red 5 revealed ore processing had started at the company’s King of the Hills project. Red 5 managing director Mark Williams said:

This is a key milestone for King of the Hills, delivered on time and on budget, and puts us on track for first gold production in the near future.

Renascor Resources Ltd (ASX: RNU)

The Renascor Resources share price is soaring 6.67% today. Renascor is developing the Siviour Graphite project in South Australia. Graphite is the anode material for batteries in electric vehicles (EV). The company’s share price appears to be jumping amid strong market sentiment among ASX graphite shares. The Novonix Ltd (ASX: NVX) share price is up 1.32% today, Syrah Resources Ltd (ASX: SYR) is leaping 5.62% and Black Rock Mining Ltd (ASX: BKT) is climbing 1.25%. Renascor raised $65 million via a share placement in late April to push expansion and development of the Siviour project.

Ioneer Ltd (ASX: INR)

The Ioneer share price is up 8.66% at the time of writing, settling from its intraday high of more than 10% higher. Ioneer is exploring the Rhyolite Ridge Lithium-Boron project in Nevada, USA. The company’s shares are rising amid strong lithium sentiment. ASX lithium explorers Mineral Resources Limited (ASX: MIN) and Core Lithium Ltd (ASX: CXO) are also up 5.36% and 7.17% respectively today. Lithium is a critical component in EV batteries. In a recent presentation in Sydney, Ioneer said its Rhyolite Ridge project is “ideally positioned” to serve the US battery supply chain.

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.

More on Share Market News

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements
Share Market News

5 things to watch on the ASX 200 on Friday

The ASX 200 looks likely to have a decent finish to the week...

Read more »

A group of happy office workers throw papers in the air and cheer after seeing the Latrobe Magnesium price skyrocket 38%
Share Market News

Here are the top 10 ASX 200 shares today

These ASX 200 shares outperformed all others on Thursday.

Read more »

Three male athletes sprint on an athletics track with the sun low on the horizon behind them representing the race between ASX lithium shares to outperform
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Thursday

Our most traded ASX 200 share today is down by more than 5%.

Read more »

Bear market
Share Market News

Here’s why one big bad bear is suggesting the stock market could crash by 50%

One strategist thinks markets haven't bottomed.

Read more »

Investor sitting in front of multiple screens watching share prices
Share Market News

5 things to watch on the ASX 200 on Thursday

Here's what to expect on the ASX 200 on Thursday...

Read more »

A trendy woman wearing sunglasses is making it rain, spraying cash on that bargain.
Share Market News

Here are the top 10 ASX 200 shares today

It was a great day on the market for these ASX 200 shares.

Read more »

An office worker and his desk covered in yellow post-it notes
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Wednesday

Guess which ASX 200 sector is dominating the market's volume charts today.

Read more »

Business woman watching stocks and trends while thinking
Share Market News

5 things to watch on the ASX 200 on Wednesday

It will be another busy day on the ASX 200 on Wednesday...

Read more »