3 ASX mining shares going gangbusters today

All three companies have exciting announcements for investors today.

Bronwyn Allen

Author bio Bronwyn has 28 years of experience in journalism, copywriting, and media relations. She began her career as a reporter with News Corporation in Sydney in 1997. She later worked for two real estate corporations in communications and PR roles, then started her own freelance copywriting and publicity business. A keen shares investor, Bronwyn joined the Motley Fool Australia team as a copy editor and writer in June 2021. Areas of expertise ASX shares and ETFs News writing Macroeconomic trends Real estate Education Diploma in Journalism, Macleay College Social media LinkedIn Favorite investment quote "Don't look for the needle in the haystack. Just buy the haystack." — John C. Bogle, Vanguard founder and pioneer of index investing for ordinary investors

Published October 19, 2022 3:27 pm AEDT

A young man wearing glasses and a denim shirt sits at his desk and raises his fists and screams with delight. — Image source: Getty Images

Azure Minerals Ltd (ASX: AZS)

This ASX mining share is exploding 39.54% at the time of writing to 30 cents per share.

Azure is an ASX lithium mining share and today the company has announced promising assay results.

As my Fool colleague James reported earlier, Azure has revealed further high-grade lithium assay results. They have come from the Andover Project's pegmatite exploration program in Western Australia's Pilbara.

The "very significant results" include the "highest lithium grade reported to date," according to the managing director of Azure, Tony Rovira.

Auking Mining Ltd (ASX: AKN)

This mining share is also enjoying an impressive day on the ASX, up 21% to 12 cents per share.

The company has exited a trading halt that it requested on Monday pending a statement.

All was revealed this morning with Auking announcing it has acquired six mining projects in Tanzania. Four are uranium prospects and two are copper prospects.

Auking also announced a two-stage capital raising to fund the exploration of the six projects.

The first stage involves a completed $1.37 million raising. This comprises the issuance of 13.75 million new shares at 10 cents per share under an existing placement capacity.

The second stage is subject to shareholder approval. It involves approximately 20 million new shares, also at 10 cents per share, to raise another $2 million.

The company said the issue price represents a 17% premium to the ASX mining share's 30-day volume-weighted average price.

Hawsons Iron Ltd (ASX: HIO)

This ASX mining share is mimicking its peer in also reaching 12 cents per share today, up 19%.

Today the company announced a "strategic review of the proposed Hawsons Iron Project's development to examine options to scale production up in stages".

Hawsons Iron managing director Bryan Granzien said the review would examine less expensive options.

This comes after the company announced on Monday that its bankable feasibility study had slowed. The study was analysing the preferred 20 million tonnes per annum (20 Mtpa) option.

Activity had slowed due to unexpected rises in infrastructure capital cost estimates, the company said.

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