ASX mining shares were amongst the best performers last year with plenty of names securing record-breaking gains.
The S&P/ASX 300 Metals and Mining Index (ASX: XMM) made a hefty run to peak on 19 April before paring gains to close out the financial year.
It is now down 13% this year to date as losses extend over into FY23.
The top and bottom ASX mining shares
Let's first cover the winners for FY22. On that, Core Lithium Ltd (ASX: CXO) is worth immediate mention.
The share finished up well into the green last financial year and has held a 288% gain these past 12 months.
This is despite consolidating much of 2022's gains.
Lake Resources N.L. (ASX: LKE) also pushed ahead with a tidy gain and is still up 77% over the past year. However, it peaked at $2.45 on 4 April and has been on the down since.
Another share worth a mention for FY22 is Pilbara Minerals Ltd (ASX: PLS). It's no doubt the lithium price underscored returns here.
The company's battery metals exchange (BMX) realised a price of US$7,000 per dmt in a digital auction.
However, it wasn't all positive for the sector. Resolute Mining Limited (ASX: RSG) booked very heavy losses across the year without any reversal. It has carried this into FY23 and trades down 60% in 12 months.
Both Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) were also laggards in securing a 52% and 50% loss respectively.
Looking at FY23, and the metals & mining benchmark has started poorly. It is down 15% in the past month, having retraced by 13% this year to date.
This is in stark contrast to the period from November to April, as seen on the chart below.
Looking ahead, the outlook is mixed for the sector, as the sell-off in ASX shares continues well into the new financial year.
