The S&P/ASX 200 Materials Index (ASX: XMJ) is up 2% today, but three lithium and battery minerals ASX shares are soaring higher.
The Ragusa Minerals Ltd (ASX: RAS), Talga Group Ltd (ASX: TLG) and Dundas Minerals (ASX: DUN) share prices are all storming ahead.
Let's take a look at why these three ASX shares are surging today.
Talga Group
Talga shares are lifting 13% today. The company is developing battery and advanced materials in Sweden for a cleaner future. Today, Talga announced it has signed a non-binding off take term sheet with Automotive Cells Company SE (ACC).
Talga will supply ACC with its flagship lithium-ion battery anode product, Talnode-C, from the Vittangi Anode Project in Sweden. Talga will provide ACC with 60,000 tonnes of Talnode-C over five years.
Ragusa Minerals
Ragusa shares are soaring nearly 30% today. This follows an update on the company's Northern Territory Lithium Project.
The company released details on its upcoming drilling program at the project. Preparation earthworks including access track and drill pad clearing are now complete.
At a recent site visit, a new pegmatite of 150m outcrop was discovered at the eastern edge of the project area.
Commenting on the news, chair Jerko Zuvela said:
We have a significant opportunity to utilise our exploration and development experience to rapidly progress our NT Lithium Project and realise the massive upside value potential in a Tier 1 jurisdiction close to major infrastructure at a time of record lithium prices.
Dundas Minerals
Dundas Minerals shares are soaring 47% today. The company's shares have surged 196% since the market close on Friday. This follows the company discovering "massive sulphides" in two drill holes.
The company is exploring the Albany-Fraser Orogen belt in Western Australia. Many samples showed sulphides anomalous in cobalt, nickel, copper and silver.
