The S&P/ASX 200 Index (ASX: XJO) returned to form last week and recorded its first weekly gain of the month. The benchmark index climbed 1.1% to end the period at 7,145.6 points.
While a good number of shares rose with the market, some climbed more than most. Here’s why these were the best performers on the ASX 200 last week:
Chalice Mining Ltd (ASX: CHN)
The Chalice Mining share price was the best performer on the ASX 200 last week with a 27.5% gain. The majority of this gain came on Friday when the mineral exploration company received the final outstanding approvals to undertake low-impact exploration drilling at the Hartog-Dampier targets at the Julimar Nickel-Copper-PGE Project. These targets are located to the north of the globally significant Gonneville PGE-Ni-Cu-Co-Au deposit.
Allkem Ltd (ASX: AKE)
The Allkem share price was some way behind with a 17.6% gain over the five days. This was driven by a rebound in risk assets following recent weakness. And as lithium shares had been heavily sold off over the last four weeks, they bounced back stronger than most. For the same reason, the Pilbara Minerals Ltd (ASX: PLS) share price rose 15.4% last week.
Nickel Mines Ltd (ASX: NIC)
The Nickel Mines share price was on form and charged 12.2% higher last week. This follows news that the company’s 80%-owned Angel Nickel Project has now commenced commissioning of its fourth and final RKEF line well ahead of schedule. Nickel Mines’ Managing Director Justin Werner said: “To now have all four RKEF lines operating by mid-May, well ahead of their scheduled October delivery, is a remarkable achievement.”
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price wasn’t far behind with a 12% gain over the five days. This appears to have been driven by a positive reaction to the biopharmaceutical company’s annual general meeting presentation. At the event, management said the launch of its Illuccix product in the U.S. has “exceeded our expectations and we are seeing robust demand for the product.”