Some ASX All Ords shares do more of the heavy lifting than others.
Over the past five years, the All Ordinaries Index (ASX: XAO) has gained just over 20%.
But one obscure ASX All Ords share has left those gains well and truly in the dust.
And I'll admit, until recently, this one was flying beneath my own radar as well.
If you said Alpha HPA Ltd (ASX: A4N), go to the front of the virtual class.
What is Alpha working on?
Alpha, if you're not familiar, is a battery metals development company with a market cap of $952 million.
The ASX All Ords share is primarily focused on its licensed Smart SX Technology, which enables it to produce sustainable, high-purity aluminium.
Alpha is currently developing its new Gladstone-based HPA First Project in Queensland.
According to the company website, Gladstone will "meet the growing demand for high purity alumina (HPA) using the most environmentally responsible and efficient methods".
Alpha is targeting LED lighting, lithium-ion batteries and semiconductors as its primary demand drivers.
With that said…
This ASX All Ords share has been on fire
Spurred on by a $15.5 million federal government grant in late 2022 to support the production of critical minerals in Australia, Alpha has been steadily progressing the Gladstone plant towards full production.
In the latest quarterly report, the company advised it was "rapidly" deploying the first $6.8 million of that grant to expand equipment capabilities to include its full high-purity product range.
And investors clearly believe the ASX All Ords share has a bright future ahead.
Five years ago, you could have bought shares in the critical battery metals stock for 12 cents apiece.
Today those same shares are swapping hands for $1.08.
That's a whopping 800% gain.
Or enough to turn a $5,000 investment into $45,000 in just five years.