3 ASX mining shares that left the index in the dust on Thursday

We take a look at why these mining shares were charging higher today.

Key points
  • These three ASX mining shares charged ahead today 
  • One of these shares soared 51% today 
  • In contrast, the ASX 200 fell nearly 1% today 

The S&P/ASX 200 Index (ASX: XJO) finished today 0.94% in the red. But three ASX mining shares closed trade smashing the index.

The Sayona Mining Ltd (ASX: SYA), Metals X Limited (ASX: MLX) and Strategic Elements Ltd (ASX: SOR) share prices were all soaring today.

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

Three workers jump in the air at a steel factory.

Image source: Getty Images

Sayona Mining

Sayona Mining shares lifted 7.35% today. However, Sayona shares sank 11% in yesterday's trade. Investors may have been buying up Sayona shares following recent declines. The Sayona Mining share price has tumbled 48.45% since 13 September. Looking ahead, Sayona recently announced its North American Lithium operation is on track to restart production in the first quarter of 2023.

Sayona shares have soared 40% in the last year.

Strategic Elements

Strategic Elements shares soared 51.11% on Thursday. In today's news, Strategic Elements advised the market of "outstanding battery development success". The company reported successful developments in Energy Ink, a new power source that produces electrical energy from moisture in the air.

Commenting on the news, managing director Charles Murphy said:

The technology is evolving at a rapid rate. It was a fantastic result to clearly produce more than enough power compared to a leading existing glucose monitoring patch being used by millions of people worldwide and to have the excess potential for a manufacturer to include more advanced sensing or other features.

The Strategic Elements share price has descended more than 30% in the last year.

Metals X Limited

The Metals X share price leapt 7.81% today. The company did not released any news to the market today. Metals X touts itself as Australia's biggest tin producer and has a 50% equity interest in the Renison Tin Operation in Tasmania. Tin futures are up 0.02% today and have leapt 7.63% in the last month, Trading Economics data shows. In a recent presentation, Metals X said it is debt free.

Metals X shares have lost nearly 27% 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.

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