3 ASX mining shares exploding over 20% on Monday

We take a look at why these three explorers are soaring higher today.

| More on:
Female miner standing smiling in a mine.

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

  • These three ASX explorers have had a top run on Monday 
  • One of these companies is exploring rare earth elements 
  • The S&P/ASX 200 Materials Index is climbing 0.52% today 

The S&P/ASX 200 Materials Index (ASX: XMJ) is 0.52% in the green today, but these three ASX mining shares are charging higher.

The Minbos Resources Ltd (ASX: MNB), Meteoric Resources NL (ASX: MEI) and BBX Minerals Ltd (ASX: BBX) share prices are all lifting today.

Let's take a look at these three ASX mining shares in more detail.

BBX Minerals

BBX Minerals shares are lifting 19% at the time of writing to 8.7 cents. However, in earlier trade BBX shares soared 27% before retreating. BBX is a mineral exploration and technology company with operations in northern Brazil.

In news today, BBX advised bioleaching test work is continuing to show "excellent results". Results from a sample from drill hole TED-015 showed a recovered grade of:

  • 95.38 g/t 5E precious metals (14.13 grams per tonne (g/t) gold, 79.27 g/t palladium, 0.17 g/t platinum, 0.72 g/t lawrencium and 1.1 g/t rhodium)

The BBX share price has descended nearly 44% in the last year. However, it has recovered 24% in the last week.

Minbos Resources

Minbos Resources shares are soaring 22% today to 9.3 cents despite no news from the company. The company is developing the Cabinda Phosphate Project and the Capanda Green Ammonia Project.

Last week, Minbos reported it had signed a historic green energy Memorandum of Understanding (MOU) for the Capanda Green Ammonia Project. The MOU has been signed between Minbos' wholly owned subsidiary Green Amonia and Angola's National Electricity Transmission Network. Minbos described the agreement as a "global green energy first". Commenting on the news, Minbos CEO Lindsay Reed said:

The MOU with Angola's National electricity network operator has created a number of green project global firsts.

The Minbos share price has slid 15% in the last year.

Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. 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 Gainers

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough start to the trading week for investors.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why A2 Milk, Audinate, BlueScope, and Chalice Mining shares are rocketing today

These shares are starting the week with an almighty bang. But why?

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Share Gainers

Guess which ASX 300 stock is surging 12% on a US government deal

The ASX 300 stock looks to be benefiting from the Donald Trump presidency.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a spectacular end to the trading week for the ASX today.

Read more »

Three people jumping cheerfully in clear sunny weather.
Share Gainers

These 3 ASX 200 stocks are shooting the lights out this week. Own any?

These ASX 200 shares have soared 11% to almost 23% this week. But why?

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
Share Gainers

Why GQG, Imugene, Mirvac, and Temple & Webster shares are pushing higher

These shares are ending the week on a positive note. But why?

Read more »

Happy shareholders clap and smile as they listen to a company earnings report.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a momentous day for ASX shares, with the index hitting another record...

Read more »

Cropped shot of an attractive young female scientist working on her computer in the laboratory.
Healthcare Shares

Up 135% in a year, why this ASX 200 healthcare stock is 'on track to become a truly great Australian success'

A leading fund manager expects more strong performance from this surging ASX 200 healthcare stock.

Read more »