This comes after the copper-gold developer released another standout drilling update from its Green Bay project in Canada.

In afternoon trade, the Firefly share price is up 18.95% to $2.04, after pushing above the psychological $2 barrier during midday. That leaves it not far below its 52-week high of $2.30.

That extends an already huge 12-month run, with the stock now up 176% over the past year.

Let's take a closer look at what was announced.

Another strong step-up in Green Bay confidence

According to today's ASX update, Firefly's latest underground drilling has again confirmed strong continuity within the high-grade Core Zone at the Ming deposit.

The standout intercept was 70.8 metres at 4% copper equivalent, including 19.2 metres at 7.5% copper equivalent.

A second hole returned 53.3 metres at 4.1% copper equivalent, including 18.2 metres at 5.8% copper equivalent.

The latest results continue to improve confidence in the scale and consistency of the higher-grade section of the orebody ahead of economic studies expected in mid-2026.

That remains a major focus because the current Green Bay resource already totals 50.4 million tonnes at 2% copper equivalent in measured and indicated categories.

It also includes another 29.3 million tonnes at 2.5% copper equivalent in inferred resources.

Why investors are buying the update

The strong share price move appears to reflect more than just another solid drill result.

The market is increasingly focused on the quality of the Core Zone, which could become an attractive early mining area thanks to its grade and continuity.

Today's release also noted that economic and technical studies tied to a larger copper-gold restart remain on track for mid-2026.

At the same time, Firefly remains well funded, ending December with roughly $251 million in cash and liquid investments.

The high-grade Core Zone is also close to existing underground infrastructure, which could improve restart economics and shorten the pathway to first production.

Foolish Takeaway

Firefly's latest Green Bay results continue to show that its high-grade core could support attractive early mine economics.

With the stock now valued at roughly $1.56 billion and still delivering strong drilling momentum, attention is now turning to the mid-2026 economic studies as the next major catalyst.

The company's strong cash position also gives it the flexibility to continue drilling aggressively while advancing restart studies.

After a 176% gain over the past year, the latest rally shows investors are still backing further resource growth at Green Bay.

The post This ASX mining stock just jumped 19% on a huge drilling result appeared first on The Motley Fool Australia.

This is unusual, as a company's share price tends to head south when a decent capital raise is announced, but the explanation might lie in news that came out earlier in the week.

Deal flow enticing shareholders

Bellavista announced on Monday that it had struck an agreement with fellow gold company FireFly Metals Ltd (ASX: FFM) to acquire 70% of the Pickle Crow gold project in Ontario, Canada, and to exercise the option to increase that interest to 80% subject to some conditions.

The Pickle Crow project has an inferred mineral resource of 2.8 million ounces of gold at a grade of 7.2 grams of gold per tonne, the company said on Monday.

Bellavista added in its statement on Monday that it believed there was "immense exploration upside" at Pickle Crow and other landholdings in the Uchi and Wabigoon belts in Canada, and it would be kicking off an "aggressive" exploration campaign.

Firefly said in its release on Monday that it would be paid 60 million Bellavista shares and 50 million performance rights for the Pickle Crow project, with an aggregate value of $86.1 million.

The $1.5 billion company would then distribute these shares to its own shareholders by way of a pro-rata, in-specie distribution.

Well-funded for exploration

Back to the capital raise, Bellavista said it would have $32 million in cash after raising the new money at 75 cents per share, with the proceeds to be used to exercise the Pickle Crow earn-in and to fund exploration programs in Canada and at its Brumby project in Western Australia.

The money would be raised in two tranches, with $16 million of the new raise requiring shareholder approval.

Bellavista Managing Director Glenn Jardine said the capital raise was well-received.

We are extremely pleased with the level of support for the Company and the proposed acquisition of up to an 80% interest in the Pickle Crow Project and additional exploration tenure in Ontario, Canada from FireFly Metals, as shown by this highly successful capital raising. Bellavista will emerge well-funded to aggressively explore the Pickle Crow project (subject to completion of the Acquisition) which has seen limited exploration since 2023. We believe the project has significant exploration upside with the large, high grade gold resource remaining open along strike and down dip and we have ambitious growth plans with the right team in place to drive that growth.

Bellavista shares were 8.2% higher at 85.5 cents at about noon on Wednesday.

The company was valued at $80.4 million at the close of trade on Tuesday.

The post Why are shares in this gold developer heading higher after a capital raise? appeared first on The Motley Fool Australia.

ASX mining shares dominate the list of companies hitting these new price milestones today.

Arguably, the most significant price peak today is for BHP Group Ltd (ASX: BHP) shares.

BHP reclaimed its place as the All Ords' largest share by market capitalisation from Commonwealth Bank of Australia (ASX: CBA) today.

CBA took the title from BHP in July 2024 during an unprecedented run that took it to a record $192 per share in June 2025.

The CBA share price is $150.35 on Tuesday, up 0.85%, while BHP shares are $49.66, up 2.54%, at the time of writing.

The BHP share price hit a two-year high of $50.08 this morning.

But today isn't all about BHP shares.

Plenty of other ASX All Ords shares have smashed new multi-year highs as well.

Here's a sample.

ASX All Ords shares reaching new price highs

As stated earlier, mining shares dominate the list of company highs today, so let's focus on them first.

Besides BHP, two other large-cap ASX diversified miners hit new 52-week share price highs.

The Mineral Resources Ltd (ASX: MIN) share price rose 2.8% to a 52-week high of $64.05.

South32 Ltd (ASX: S32) shares hit a 52-week high of $4.54 per share, up 3.4%.

Among the ASX All Ords gold shares, Newmont Corporation CDI (ASX: NEM) lifted 1.9% to a record high of $181.91.

The Resolute Mining Ltd (ASX: RSG) share price soared 10.3% to a 52-week peak of $1.50.

Ramelius Resources Ltd (ASX: RMS) shares surged 3.5% to a record $5.09.

Regis Resources Ltd (ASX: RRL) shares increased 2.8% to a multi-year high of $8.58.

Copper and gold miner Firefly Metals Ltd (ASX: FFM) lifted 5.8% to a 52-week high of $2.20 per share.

Among ASX silver shares, Silver Mines Ltd (ASX: SVL) rose 12.5% to a 52-week high of 27 cents.

Canaccord Genuity sees more growth ahead for Sun Silver Ltd (ASX: SS1) shares, which rose 6.5% to a record $2.47 apiece today.

ASX All Ords lithium shares also hit new price peaks.

Shares in lithium and nickel producer IGO Ltd (ASX: IGO) increased 2% to a two-year high of $9.50.

The Winsome Resources Ltd (ASX: WR1) share price lifted 11.7% to an 18-month high of 67 cents.

Hot Chili Ltd (ASX: HCH) shares soared 9.2% to a 52-week high of $1.89.

Among ASX All Ords copper shares, Capstone Copper Corp CDI (ASX: CSC) soared 8.8% to a record $16.27 per share.

The Develop Global Ltd (ASX: DVP) share price rose 5.8% to a four-year high of $5.67.

What about ASX All Ords shares from other sectors?

ASX All Ords retail stock Nick Scali Limited (ASX: NCK) ascended 1.9% to a record $26.08 per share.

Engineering services company Monadelphous Group Ltd (ASX: MND) lifted 3.6% to a record $30.98.

Testing and inspection services provider ALS Ltd (ASX: ALQ) rose 1.4% to a record $24.41.

The post ASX All Ords shares smashing 52-week highs today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is down 4% to $12.48. Investors have been selling this gold miner's shares following a sharp pullback in the gold price overnight. This appears to have been driven by traders taking profit after the precious metal rose strongly and hit a new record high. It isn't just Evolution Mining that is falling this afternoon. At the time of writing, the S&P/ASX All Ordinaries Gold index is down by a disappointing 2.75%.

Firefly Metals Ltd (ASX: FFM)

The Firefly Metals share price is down 4% to $2.04. This has been driven by weakness in the gold industry and news the emerging gold miner has doubled the size of its recently announced share purchase plan (SPP) to $10 million. This decision was made following "extremely strong demand for the SPP and reflects the Company's commitment to its supportive retail shareholders." FireFly's managing director, Steve Parsons, said: "We are delighted to have received such strong demand for the SPP. This reflects the outstanding upside at Green Bay and our aggressive strategy to continue creating value by using nine rigs. We have taken the opportunity to reward our loyal retail shareholders by doubling the total SPP provision to A$10m, increasing their ability to secure further exposure to this growth potential."

Unico Silver Ltd (ASX: USL)

The Unico Silver share price is down 6% to 85.5 cents. Investors have been selling this silver miner's shares following a drop in the silver price overnight. The precious metal tumbled 8% on Monday night to US$72.27 per ounce. This also appears to have been driven by profit taking from traders following a big gain in 2025.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down almost 10% to $5.24. This may have been caused by profit taking from some investors after a very strong gain on Monday. Investors were buying the semiconductor company's shares after it revealed that it signed a licensing agreement for its ReRAM technology with Texas Instruments (NASDAQ:TXN). The company's CEO, Coby Hanoch, said: "This agreement is another strong signal that the industry is moving towards ReRAM as the successor to flash memory in SoC designs." Weebit Nano also released revenue guidance for FY 2026, revealing that it expects revenue of at least $10 million.

The post Why Evolution Mining, FireFly, Unico Silver, and Weebit Nano shares are tumbling today appeared first on The Motley Fool Australia.

At the time of writing, the copper and gold developer's shares are trading at $2.02, down 5.16%.

The company has had a busy end to the year, raising fresh funds and strengthening its balance sheet as it prepares for further work at its Canadian project.

With copper sentiment improving and funding remaining tight across the sector, FireFly's recent progress has caught investors' attention.

Here's what the company has been working on.

Retail demand comes in well above expectations

According to the release, FireFly has doubled the size of its Share Purchase Plan (SPP) to $10 million after receiving far more interest than expected.

The SPP was originally capped at $5 million. However, applications came in at around $31 million, which is more than 6 times that amount.

Because of this, the company decided to lift the cap while still using scale-back rules to limit dilution.

In total, 1,558 eligible shareholders took part. That represents about 27% of those eligible. The average investment was just under $20,000, showing support came from a wide range of retail investors.

The SPP closed on 19 December. New shares were issued on 30 December and are expected to start trading on 31 December, subject to normal ASX processes.

More funding secured

The expanded SPP follows a much larger capital raising completed earlier in December.

FireFly raised $139 million before costs through a mix of institutional and Canadian placements. This included an $85 million placement at $1.70 per share, alongside two Canadian raisings.

Following completion of the raisings, FireFly reported a pro forma cash balance of around $246.9 million before costs. That leaves the company with a strong cash position heading into the new year.

Importantly, the SPP was priced at the same level as the institutional placement. This allowed retail investors to participate on the same terms as larger investors.

What the money will be used for

FireFly plans to use the funds to move its Green Bay Copper-Gold Project in Newfoundland forward.

Work will include underground development, early construction activities, mining and economic studies, and more drilling. The goal is to grow and improve the project's resource base and prepare it for future development.

Management has said 2026 will be a busy year, with several parts of the project progressing at the same time.

What investors should watch next

FireFly shares have had a strong run over the past year, helped by better sentiment around copper and steady progress at Green Bay.

While raising new money increases the number of shares on issue, this funding reduces financial risk and gives the company time to focus on getting work done.

From here, investors will be watching how FireFly uses its strong cash position to deliver progress on the ground over the next 12 months.

The post Why this ASX mid-cap stock is back in the spotlight today appeared first on The Motley Fool Australia.

Four ASX shares that are acting as a drag today are listed below. Here's why they are falling:

Firefly Metals Ltd (ASX: FFM)

The Firefly Metals share price is down over 5% to $1.84. This morning, the copper and gold developer announced that it has received firm commitments for $134.1 million equity raising. The proceeds will underpin a resource growth campaign and progress upscaled mining studies at its Green Bay Copper-Gold Project in Canada. FireFly's managing director. Steve Parsons, said: "This highly successful raising means we can embark on a no-holds-barred drilling campaign aimed at creating further shareholder value in a very timely manner."

Pantoro Gold Ltd (ASX: PNR)

The Pantoro Gold share price is down 5% to $4.60. This appears to have been driven by weakness in the gold industry, which has offset the release of an announcement this morning. Pantoro provided an update on the ongoing underground and surface diamond drilling program at its Scotia Underground Mine. Its managing director, Paul Cmrlec, said: "These latest drilling results reinforce our confidence in the Scotia geological model, with stacked high-grade lodes continuing at depth and along strike."

Step One Clothing Ltd (ASX: STP)

The Step One share price is down 37% to 31 cents. Investors have been rushing to the exits after the underwear seller announced dismal sales results for the first half. It advised that it expects half year revenue to be in the range of $30 million and $33 million. This represents a decline of between 31% to 37% on the prior corresponding period. Step One's EBITDA is expected to be a loss of between $9 million and $11 million, which is down from a profit of $11.3 million a year ago. This includes a $10 million obsolescence provision against legacy stock that it has been unable to shift.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is down 31% to $4.24. This has been driven by the lithium developer completed a major capital raising this morning. Vulcan Energy's institutional offer raised 398 million euros (A$710 million) at $4.00 per new share. This represents a 34.7% discount to its last close price. Vulcan's managing director and CEO, Cris Moreno, said: "We would like to thank our existing shareholders for their continued support and welcome our new shareholders onto the register, including strategic investors. The Placement will enable Vulcan to transition from development phase into execution phase with project execution of Project Lionheart due to commence in the coming days."

The post Why Firefly Metals, Pantoro Gold, Step One, and Vulcan Energy shares are sinking today appeared first on The Motley Fool Australia.

The company's shares hit a record high of $1.98 on Monday before the company's shares went into a trading halt on Tuesday.

The shares have tripled over the past year from levels as low as 66.5 cents, but took a step down on Thursday to be changing hands for $1.79, down 7.9%.

This was after the company announced it had raised $143 million from an institutional capital raise at $1.70 per share.

Existing shareholders in the company will also be able to take up new shares to the value of $5 million at the $1.70 offer price.

Funds to drive growth

FireFly stated in a release to the ASX that the money will be used to expand and upgrade the mineral resource at its Green Bay copper and gold project in Newfoundland, Canada, in preparation for a final investment decision.

FireFly managing director Steve Parsons said the company could now forge ahead with its growth plans.

This highly successful raising means we can embark on a no-holds-barred drilling campaign aimed at creating further shareholder value in a very timely manner. We will increase the drilling fleet to nine rigs as part of an aggressive onslaught targeting extensions to known mineralisation and new regional prospects. We are also progressing towards a final investment decision by derisking the Green Bay copper-gold project by embarking on upscaled mining studies which are expected to be completed in the first half of CY26. "The name of the game at Green Bay is clearly drive value through the drill bit and derisk a large-scale copper-gold project. So that's exactly what we are going to do.

The Green Bay project is made up of multiple assets, with the flagship being the Ming underground mine.

It also includes regional exploration assets, access to a port, and a processing facility.

The Ming mine, according to the FireFly website, was originally mined from 1972 to 1982, before restarting in 2012. It was then mined through to 2023 before being mothballed once again.

As the company explained:

The Ming Mine consists of a fully operational decline accessible to 950m below surface, and an existing 650m deep shaft. This functional infrastructure provides a significant platform for FireFly to rapidly increase the Mineral Resource for minimal capital outlay and set the Company up for future mining operations.

FireFly was valued at $1.32 billion at the close of trade on Monday, before the capital raise was announced.

The post Why are FireFly Metals shares pulling back from near-record levels today? appeared first on The Motley Fool Australia.

Shares in the copper-gold focused miner closed yesterday trading for $1.70. As we head into the Wednesday lunch hour, shares are changing hands for $1.75 apiece, up 2.9%.

For some context, the ASX 300 is just about flat at this same time.

Today's outperformance is par for the course for FireFly over the past two years.

The ASX 300 mining stock, which is focused on advancing its high-grade Green Bay Copper-Gold Project in Newfoundland, Canada, has benefited both from its own operational successes as well as the soaring gold and copper prices.

With today's intraday boost factored in, FireFly shares are up 96.6% year to date and up a whopping 157.4% from the recent 9 April closing lows.

And according to the analysts at Macquarie Group Ltd (ASX: MQG), the miner's bull run has a goodly way to run yet.

Here's why.

ASX 300 mining stock lifts copper and gold reserves

On Tuesday, FireFly released an update on its Green Bay Copper-Gold Project, revealing a material Mineral Resource increase.

The ASX 300 mining stock reported that the new Mineral Resource Estimate (MRE) now stands at 50.4 million tonnes (Mt) at 2.0% for 1Mt copper equivalent (CuEq) in the higher confidence Measured and Indicated (M&I) classifications.

FireFly also reported an additional 29.3Mt @ 2.5% for 722,000 tonnes of CuEq in the Inferred category. This marks a 35% boost in tonnes and a 51% increase in CuEq metal from the Mineral Resource Estimate FireFly announced on 29 October 2024.

The miner added:

Copper remains the dominant metal in the MRE (863kt M&I plus 566kt Inferred Resources) with gold forming an important by-product (546koz M&I plus 563koz Inferred Resources). Silver is also present in significant quantities in the latest MRE (5.0Moz M&I plus 4.8Moz Inferred Resources).

"This outstanding result cements Green Bay's status as one of the most compelling copper development projects in the world," FireFly managing director Steve Parsons said.

Macquarie boosts price FireFly share price target by 35%

In a new report on the ASX 300 mining stock, Size Matters, Macquarie said:

Significant lift in our Mining Inventory forecasts: Following the resource update we lift our Mining Inventory by 81% from 30Mt to 54.5Mt. Our Mining Inventory is based on 100% of Measured and Indicated (M&I) resource and 30% of Inferred resources along with a 5% grade dilution assumption which results in Mining Inventory of 54.4Mt at 1.7%/0.5g/t Cu/Au, for 921kt/813koz of contained Cu/Au.

The broker also expects that FireFly's Green Bay project could run for significantly longer than previously forecast.

According to Macquarie:

Could underpin a longer life, larger scale project capable of ~60ktpa: We had previously forecast a 15-yr mine life at 32ktpa, but following the MRE update we upsize our throughput assumptions from 2Mtpa to 3.5Mtpa from year four onwards as keeping 2Mtpa into perpetuity would result in a ~27-yr mine life. Our upsized throughput assumption drives an increase in copper production to 59ktpa and results in a mine life of 17-yrs.

Connecting the dots, Macquarie maintained its outperform rating on the ASX 300 mining stock, noting the Green Bay has the potential to become "a globally significant copper project which could attract corporate appeal".

The broker raised its 12-month target price on FireFly shares by 35% to $2.30.

That represents a potential upside of 31.4% from current levels.

The post Up 157% since April, why Macquarie expects this ASX 300 mining stock to surge another 31% appeared first on The Motley Fool Australia.

And according to some analysts, this rally could have plenty of room to grow.

For instance, US investment firm JPMorgan Chase & Co (NYSE: JPM) believes that a widening global supply deficit could see copper rise to US$12,000 per tonne by the first quarter of 2026.

And a sustained upswing in the copper price may be good news for leading ASX 200 mining stocks with substantial exposure to the red metal.

These include diversified mining powerhouse BHP Group Ltd (ASX: BHP) which has transformed into the world's biggest copper producer in the past few years.

Other copper-focused ASX 200 mining stocks such as Sandfire Resources Ltd (ASX: SFR) and Capstone Copper Corp CDI (ASX: CDC) could also benefit.

However, beyond the heavyweights, the ASX is home to several emerging copper companies already mining or moving their respective projects towards production.

Below, we present an overview of three lesser-known ASX copper stocks with surging share prices.

29Metals Ltd (ASX: 29M)

29Metals operates the Golden Grove copper mine in Western Australia, which also produces significant amounts of zinc, gold, and silver.

Overall, the company is targeting up to 25,000 tonnes of copper output from Golden Grove in the 2025 calendar year. 

In addition, it plans to bring its Capricorn copper mine in Queensland back to production after extreme rainfall suspended operations in 2023.

Combined, the two projects hold about 2.2 million tonnes of contained copper, 2.3 million tonnes of zinc, 1.2 million ounces of gold, and 75 million ounces of silver.

Each project has a resource base large enough to support a mining operation of more than 10 years.

The company is also ramping up exploration drilling as it looks to grow the existing resource at Golden Grove.

Shares in 29Metals have ballooned by 191% in the past six months, ending Wednesday at $0.47 per share.

Hot Chili Ltd (ASX: HCH)

Hot Chili is a mineral exploration business advancing its Costa Fuego copper and gold project in Chile towards production.

Costa Fuego already hosts a large resource base across three deposits: Cortadera, Productora, and San Antonio.

Here, management believes the 3.4 million tonnes of contained copper equivalent represents one of the largest undeveloped copper mineral resources in the world.

In addition, a recent discovery at the nearby La Verde prospect adds potential for further resource expansion.

Earlier this year, Hot Chili unveiled the results from an economic evaluation gauging the merits of bringing Costa Fuego to production.

This pre-feasibility study (PFS) outlined a 20-year mine, with output of about 116,000 tonnes of copper equivalent per annum across 14 years of primary production.

The study also estimated post-tax free cashflow of US$3.86 billion for the life of the mine, as well as a payback period 4.5 years.

Hot Chili now plans to launch a more detailed definitive feasibility study, whilst also conducting an environmental impact assessment for the project.

Further exploration drilling at La Verde could also be on the cards.

In the past six months, Hot Chili shares have surged by 85% to $0.87 per share at yesterday's close.

Firefly Metals Ltd (ASX: FFM)

Firefly is another exploration company moving its Green Bay copper and gold project in the Canadian province of Newfoundland closer to production.

As things stand, Green Bay holds a resource containing one million tonnes of copper and 550,000 ounces of gold. This equates to 1.2 million tonnes of copper equivalent.

However, the company's strategy is centred on growing this resource even further.

At present, eight drill rigs are operating at Green Bay as Firefly looks to upgrade the resource, extend known mineralisation, and unearth new discoveries.

Notably, recent drilling delivered high-grade copper and gold hits which extended the known mineralisation by 650 metres beyond the current resource.

In addition, further "exceptional" drilling results defined an 800-metre zone of "very high-grade" mineralisation which remains open along strike.

Management noted that this zone could significantly impact a mineral resource estimate for the project, planned for release in the current quarter.

FireFly shares have now increased by 102% in just six months, reaching $1.82 per share at the close of business on Wednesday.

The post Up 85% or more! These 3 hidden ASX mining stocks are soaring as the copper price ignites appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Firefly Metals Ltd (ASX: FFM)

The Firefly Metals share price is up 14% to $1.83. Investors have been buying this mineral exploration company's shares after the release of a drilling update. Firefly Metals highlights that an extremely high-grade core is emerging at the Green Bay Copper-Gold Project in Canada. It notes that the drilling results are continuing to reveal the presence of this rich copper-gold mineralisation over substantial widths along an 800m length. FireFly's managing director, Steve Parsons, said: "These high grades occur over substantial widths, further highlighting the potential impact on the Mineral Resource and the economic studies now underway. We will continue drilling to establish the full extent of this core unit and feed the results into the Mineral Resource Estimate update planned for this quarter."

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 2.5% to $3.31. Investors have been buying this lithium miner's shares since the release of its quarterly update last week. However, analysts at Bell Potter think now is the time to take profit. This morning, the broker downgraded Pilbara Minerals' shares to a sell rating with an improved price target of $2.65. This implies potential downside of approximately 20%.

Qantas Airways Ltd (ASX: QAN)

The Qantas share price is up 3% to $10.85. The catalyst for this could have been a broker note out of Macquarie Group Ltd (ASX: MQG). According to the note, the broker has upgraded the airline operator's shares to an outperform rating with an improved price target of $12.29. It said: "Outperform (prev Neutral). LF [load factors] may have peaked and RASK is softening, but they are more than offset by softer oil prices, strong cost discipline, and the benefits of a newer fleet. FY26E EPS growth of +11% is attractive."

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 4.5% to $4.15. This may also have been driven by a broker note out of Macquarie today. This morning, the broker initiated coverage on the buy now pay later provider's shares with an outperform rating and $4.85 price target. It said: "Initiate at Outperform. We forecast Zip to continue to deliver rapid growth supported by increased product adoption, expansion of merchant network, increased customer engagement and digital product innovation."

The post Why Firefly, Pilbara Minerals, Qantas, and Zip shares are racing higher today appeared first on The Motley Fool Australia.

But in recent times the company has been going through a noteworthy transformation.

In late 2023, Firefly acquired the Green Bay copper and gold project in the Canadian province of Newfoundland.

And it wasted little time in launching an exploration drive designed to grow the existing resource through drilling.

At the time, the resource contained 811,000 tonnes of copper equivalent.

Fast forward to today and this strategy appears to be bearing fruit.

Green Bay now holds one million tonnes of contained copper and 550,000 ounces of gold, which equates to 1.2 million tonnes of copper equivalent.

And this expansion strategy continues today.

Eight drill rigs are peppering the ground at Green Bay with the goal of upgrading the resource, extending known mineralisation, and unearthing new discoveries.

And this week, Firefly announced results from four drill holes that sent its share price flying.

What happened?

In a nutshell, drilling designed to test down-plunge extensions of the known mineralisation at Ming Mine appears to have hit the sweet spot.

The drilling returned high-grade copper and gold intercepts, extending the known mineralisation at Green Bay by 650 metres beyond the current resource.

Management noted that the most distant hole from the resource delivered one of the best hits at the deposit so far, returning 49 metres at 6.1% copper equivalent.

In other words, the strength of the mineralisation could be increasing at depth.

Firefly managing director, Steve Parsons, commented:

These results are truly world-class, with widths and grades which any copper miner would be delighted to have.

To extend the known mineralisation by 650m beyond the Mineral Resource with such a spectacular intersection as 49m at 6.1% CuEq demonstrates the exceptional growth outlook at Green Bay and shows why it is one of the best undeveloped copper projects in the world.

The drilling also confirmed that a previously identified exploration target stretching for 700 metres contains copper and gold mineralisation.

This suggests that the mineralisation could potentially extend further.

We have lift off

This week's results add to a string of other "exceptional" high-grade copper and gold hits announced by the company.

Earlier this month, FireFly reported that drilling confirmed continuity, quality, and scale of the copper and gold mineralisation at Green Bay.

And FireFly's share price has been running hot on the back of such news.

Shares in this ASX mining stock have now surged by 44% in just one month.

They have also more than doubled in the past six months, reaching a 52-week high in Thursday's trading and closing out the day at $1.69 per share.

What next for this ASX mining stock?

Management noted that the mineralisation at Green Bay remains open, with ongoing drilling targeting further resource growth.

A mineral resource update is expected in the coming weeks.

Firefly is also pursuing economic evaluations to gauge the merits of bringing Green Bay to production.

The first preliminary study is planned for completion in the first quarter of next year.

More broadly, the ASX mining stock is also pursuing new copper and gold discoveries at its broader Green Bay tenure.

Here, two drill rigs are testing high-priority exploration targets across its 346 square kilometre landholding.

The post This ASX mining stock is up 108% in only 6 months as "world class" copper and gold hits roll in appeared first on The Motley Fool Australia.

Amid forecasts of a looming rebound for many raw materials, though not necessarily iron ore, many analysts are forecasting that the long-awaited rotation from high-performing S&P/ASX 200 Index (ASX: XJO) bank stocks into underperforming ASX mining stocks is about to kick off.

ASX 200 superstar Commonwealth Bank of Australia (ASX: CBA) could face some of the steeper selling. CBA shares have soared some 40% over the past year, making it the biggest company on the ASX with a market cap of $299.6 billion.

With the BHP Group Ltd (ASX: BHP) share price down around 14% over 12 months, the mining giant has slipped to number two on the ASX, with a market cap of $195.9 billion.

A number of analysts expect that BHP shares stand to benefit from the forecast rotation out of CBA shares (particularly with BHP's growing copper exposure). However, Perennial portfolio manager Sam Berridge believes a handful of ASX All Ords stocks should perform significantly better.

Tailwinds brewing for these ASX All Ords stocks

According to Berridge (quoted by The Australian Financial Review):

If we get a normalisation of this trade war and the US continues to cut rates because tariffs aren't as inflationary as expected, that should sow the seeds for a decent commodities rally towards the end of this calendar year and certainly into 2026.

But Berridge doesn't expect BHP shares to be the biggest beneficiary.

Instead, Perennial's Strategic Natural Resources Fund is investing in ASX All Ords stocks with strong exposure to raw materials, including aluminium, copper, rare earths, and gold.

For copper exposure, his fund holds FireFly Metals Ltd (ASX: FFM), among others. The FireFly Metals share price is up 32% over the past year, currently trading for $1.10 a share.

As for some of Perennial's top gold bets, Berridge named Ramelius Resources Ltd (ASX: RMS) and Turaco Gold Ltd (ASX: TCG). Amid a soaring gold price, the Ramelius Resources share price is up 27% over 12 months. Turaco Gold shares have rocketed 138% over this same time.

Gold is currently trading for US$3,331 per ounce, up around 29% in 12 months.

Berridge also expects to see a rare earths rally, which could usher in a welcome turnaround for ASX All Ords stock Brazilian Rare Earths Ltd (ASX: BRE). Shares in the rare earths miner are down 28% since this time last year.

The post Forget BHP and CBA shares and buy these 4 promising ASX All Ords stocks instead appeared first on The Motley Fool Australia.

That's according to a new research report from Macquarie Group Ltd (ASX: MQG).

In early afternoon trade today, FireFly shares are up 0.5%, changing hands for $1.05 apiece.

That puts the FireFly share price up 58.6% since this time last year.

And if the analysts at Macquarie have it right, then the year ahead could see FireFly shares deliver more outsized gains.

Here's why.

Why Macquarie has high expectations for the ASX All Ords copper stock

If you're not familiar with FireFly, the company is an emerging copper-gold miner focused on advancing its high-grade Green Bay Copper-Gold Project, located in Newfoundland, Canada.

Green Bay is comprised of multiple assets, including the Ming underground mine and the Little Deer exploration project.

On Tuesday, the ASX All Ords copper stock announced "a highly successful" equity raising. And Macquarie took note.

The broker said:

FFM has raised A$100m via flow-through shares (A$11.2m), a Canadian offering (A $28.8m), a two-tranche institutional placement (A$54.9m), and a share purchase plan (SPP) (up to A$5m).

The funds will be used for drilling at the Green Bay project, with six rigs targeting resource growth at the Ming Mine (~130,000m drill program in 2025) and one rig targeting regional targets.

Commenting on the ASX All Ords copper stock's capital raising on Tuesday, FireFly managing director Steve Parsons said, "The combination of the exceptional Green Bay asset, our proven exploration team and our $135 million cash war chest is the ideal recipe for growth."

Parsons added:

The overwhelming demand for the raising reflects the quality and growth outlook at Green Bay, our commitment to a multi-rig exploration campaign and the demand among global investors for top-shelf copper-gold projects.

Parsons concluded, "This outlook is further enhanced by the shortage of such outstanding projects which can meet investors' surging appetite for copper-gold exposure."

More tailwinds ahead?

Looking to what could boost the ASX All Ords copper stock in the months ahead, Macquarie labelled the second half of calendar year 2025 "catalyst-rich" for the miner.

"FireFly Metals is approaching a catalyst-rich 2H," the broker said.

In 2H 2025, investors can expect "news flow including drilling results from Green Bay (in-mine and regional), a resource update for Green Bay (3Q25/4Q25), and a pre-feasibility study (PFS) (4Q25/1Q26)," Macquarie added.

Connecting the dots, the broker maintained its outperform rating on FireFly shares, stating:

FFM's Green Bay Project represents a compelling copper development opportunity with resource upside, and the project has a pathway to ~32ktpa and upside to >50ktpa if resource growth exhibits critical mass to justify a larger mill.

Macquarie has a 12-month price target of $1.55 a share for the ASX All Ords copper stock. That represents a potential upside of 47.6% from current levels.

The post Why Macquarie expects this ASX All Ords copper stock to soar 48% in a year appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Firefly Metals Ltd (ASX: FFM)

The Firefly Metals share price is up almost 9% to 87 cents. Investors have been buying this mineral exploration company's shares following the release of a drilling update for the Green Bay Copper-Gold Project in Canada. Firefly Metals revealed that its latest drilling has intersected high-grade copper and gold mineralisation more than 200m beyond the current mineral resource. Managing Director, Steve Parsons, said: "We are about to add a seventh rig because we have so many opportunities to pursue. There are very few projects which could justify such an aggressive drilling campaign but we have more than enough avenues of growth to warrant this."

Kelsian Group Ltd (ASX: KLS)

The Kelsian share price is up 14% to $3.18. This has been driven by the release of a trading update from the travel and transport company. Kelsian revealed that it is tracking towards lower end of its previous earnings guidance range of underlying EBITDA between $283 million and $295 million. There has been no change to FY 2025 capex estimates.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is up 3% to $36.35. Investors have been buying the banking giant's shares following the release of its half year results. NAB reported cash earnings of $3.58 billion for the six months. This is up 0.8% on the second half of FY 2024 and 1% on the prior corresponding period. It was also ahead of the $3.49 billion that analysts at Macquarie Group Ltd (ASX: MQG) were expecting. NAB's CEO, Andrew Irvine, said: "We are managing our business well in continued challenging operating conditions. Cash earnings were 0.8% higher than 2H24, with underlying profit growth and lower credit impairment charges partially offset by a higher effective tax rate."

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 11% to $1.79. The catalyst for this has been the release of a trading update from the buy now pay later provider this morning. Zip advised that momentum in total transaction value (TTV) growth has continued across both Australia and the United States. So much so, in the United States, year on year TTV growth for the month of April was above 40%. This is broadly in line with the 47.1% TTV growth it reported for the business during the third quarter of FY 2025. Management has also reaffirmed its FY 2025 guidance for cash EBTDA of at least $153 million.

The post Why Firefly, Kelsian, NAB, and Zip shares are roaring higher today appeared first on The Motley Fool Australia.

Meantime, these four ASX All Ordinaries companies are streaking ahead of their peers today.

Here's why.

4 ASX All Ordinaries shares smashing it on Tuesday

Brainchip Holdings Ltd (ASX: BRN)

Brainship shares are one of the strongest risers within the ASX All Ordinaries on Tuesday.

The Brainchip share price is up 11.36% to 25 cents at the time of writing.

The ASX All Ordinaries tech share is an outlier amid a 3.88% rout for the S&P/ASX 200 Information Technology Index (ASX: XIJ).

The share price boost follows news from the semiconductor company of a $1.8 million contract win in the United States.

The contract is with the Air Force Research Laboratory for neuromorphic radar signalling processing.

Brainchip shares have risen 29% over the past 12 months.

Latin Resources Ltd (ASX: LRS)

ASX All Ordinaries lithium share Latin Resources shot 21.4% higher to an intraday peak of 17 cents today.

It has since pulled back to 16 cents per share, up 8.3%.

Latin Resources shares are higher as the market celebrates the potential impact of new economic stimulus in China, which is the world's biggest producer of electric vehicles.

China held its monthly Politburo meeting yesterday and surprised the market with strong statements regarding new stimulus measures for 2025.

Stimulus in China usually leads to higher demand for resources, which tends to push up commodity values and boost the earnings of ASX miners and other exporters.

Overnight, there was a 0.42% lift in the lithium hydroxide price to US$9,489.70 per tonne and a 0.52% fall in the lithium carbonate price to US$10,536.46 per tonne.

This ASX All Ordinaries mining share is down 28.6% over the past year.

Develop Global Ltd (ASX: DVP)

Develop Global is another lithium miner benefitting from the China stimulus news today.

The Develop Global share price is up 11.76% to $2.47 in afternoon trading on Tuesday.

The company also announced the completion of a $100 million loan facility with Trafigura today.

Develop and Trafigura have also executed a five-year offtake agreement.

This ASX All Ordinaries mining share has fallen by around 17% over the past 12 months.

Firefly Metals Ltd (ASX: FFM)

Firefly is another ASX All Ordinaries lithium mining share.

The Firefly Metals share price is currently 13.07% higher at $1.142.

The stimulus news out of China is a likely contributor to Firefly's performance today.

However, investors are also likely responding to the latest round of drilling results from the Green Bay Copper-Gold Project in Canada, released today.

Firefly described the results as "spectacular".

The miner said it had drilled its best hole yet with an assay of 86.3 metres at 3.7% CuEq.

Firefly shares have shot around 115% higher over the past year.

The post 4 ASX All Ordinaries shares rocketing over 10% today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) is the leading market sector today, up 3.34%. Meanwhile, the benchmark S&P/ASX 200 Index (ASX: XJO) is down 0.42%.

According to the Australian Financial Review (AFR), Morgan Stanley economist Robin Xing said yesterday's Politburo meeting in China "sent the most aggressive stimulus tone in a decade".

The Politburo, which meets once per month, said it would introduce measures to boost domestic consumption and stabilise the property market and Chinese share market.

This comes ahead of the important Central Economic Work Conference, which begins on Wednesday. At the conference, new year priorities will be set, including China's 2025 target for economic growth.

ASX mining shares in the green on Tuesday

ASX iron ore shares are well into the green today, with BHP Group Ltd (ASX: BHP) shares up 3.92% to $42.18 and Fortescue Ltd (ASX: FMG) shares up 6.68% to $20.54.

Rio Tinto Ltd (ASX: RIO) shares are up 4.97% to $125.43, while iron ore and lithium miner Mineral Resources Ltd (ASX: MIN) has lifted 6.23% to $36.32.

In overnight trading, there was a 2.15% lift in the CNY iron ore price to US$111.35 per tonne. The 62% iron ore price fell 2.05% to US$104.11 per tonne.

ASX gold shares are also rising today. The gold price is currently trading at US$2,659.16, up 0.99%. Yesterday, gold hit new record levels at around US$2,675 per tonne.

In today's trading:

• The Northern Star Resources Ltd (ASX: NST) share price is up 2.12% to $16.86
• The Newmont Corporation CDI (ASX: NEM) share price is up 1.62% to $65.09
• The Evolution Mining Ltd (ASX: EVN) share price is up 3.37% to $5.21

Analysts at Trading Economics explained that the gold price was rising due to its safe-haven appeal amid renewed geopolitical tensions in the Middle East, as well as China resuming gold purchases.

ASX copper shares are in the green following a 1.56% bump in the copper price to US$4.20 per pound.

• Sandfire Resources Ltd (ASX: SFR) shares are up 3.66% to $10.49
• Red Metal Ltd (ASX: RDM) shares are up 4.55% to 12 cents
• Firefly Metals Ltd (ASX: FFM) shares are up 12.03% to $1.13

What about ASX lithium shares?

ASX lithium shares are also responding to the news from China, given it is the world's top producer of electric vehicles.

• Pilbara Minerals Ltd (ASX: PLS) shares are up 7.67% to $2.32
• IGO Ltd (ASX: IGO) shares are up 4.64% to $5.19
• Liontown Resources Ltd (ASX: LTR) shares are up 3.28% to 63 cents
• Latin Resources Ltd (ASX: LRS) shares are up 10.34% to 16 cents
• Sayona Mining Ltd (ASX: SYA) shares are up 3.45% to 3 cents
• Syrah Resources Ltd (ASX: SYR) shares are up 4.17% to 25 cents
• Vulcan Energy Resources Ltd (ASX: VUL) shares are up 4.88% to $6.45
• Patriot Battery Metals Inc (ASX: PMT) shares are up 6.35% to 34 cents

Overnight, there was a 0.42% lift in the lithium hydroxide price to US$9,489.70 per tonne and a 0.52% decline in the lithium carbonate price to US$10,536.46 per tonne.

The post Why are ASX mining shares going gangbusters today? appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Firefly Metals Ltd (ASX: FFM)

The Firefly Metals share price is up 9% to $1.15. This morning, this copper explorer released an update on its Green Bay copper-gold project in Newfoundland, Canada. According to the release, recent exploration activities have led to a 42% increase in the mineral resource estimate at Green Bay. The total resource is now 59Mt at 2% copper-equivalent for 1.2Mt of contained metal. FireFly's managing director, Steve Parsons, said: "This outstanding result confirms Green Bay's status as one of the fastest-growing high-grade copper projects with genuine scale in the western world."

Premier Investments Limited (ASX: PMV)

The Premier Investments share price is up 11% to $34.19. Investors have been buying the company's shares today after it announced a merger agreement with Myer Holdings Ltd (ASX: MYR). The deal will see Myer acquire Premier's Apparel Brands business in Australia and New Zealand in exchange for the issue of 890.5 million new shares. The Apparel Brands business comprises Just Jeans, Jay Jays, Portmans, Dotti, and Jacqui E. Upon completion, it will have $4 billion revenue and $152 million EBIT on a pro forma FY 2024 basis. The shares being issued will be distributed to Premier Investments shareholders on a 7.2 for 1 ratio.

Serko Ltd (ASX: SKO)

The Serko share price is up 25% to $3.08. This follows the release of the travel technology company's half year results this morning. It reported an 18% increase in total income to NZ$42.7 million and a net loss of NZ$5.1 million. The latter is a NZ$2.1 million improvement year on year. In other news, Serko is expanding its existing business in North America, including through a long-term partnership with global travel software and technology provider Sabre Corporation (NASDAQ: SABR). It will also acquire Sabre's business travel management solution, GetThere. This will make it the number two online booking tool provider in North America.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 11% to $3.09. Investors have been fighting to get hold of the buy now pay later provider's shares following the release of its first quarter update. For the three months, Zip reported group cash EBTDA of $31.7 million. This represents an increase of 233.7% over the prior corresponding period. A key driver of this was its US business. Zip's CEO and managing director, Cynthia Scott, said: "Our US business continued to deliver outstanding growth, with TTV up 42.8% and revenue up 43.9%, versus 1Q24, driven by ongoing engagement in higher-margin channels such as the App."

The post Why Firefly, Premier Investments, Serko, and Zip shares are roaring higher today appeared first on The Motley Fool Australia.

This was somewhat unusual by historical standards, as September is often a weak month for ASX shares.

However, investors certainly welcomed the reversal of historical trends!

Meanwhile, analysts on CommSec raised a bunch of ASX shares to 'strong buy' status last month.

In this article, we take a look at five of those picks from the ASX All Ords index.

5 ASX All Ords shares upgraded to 'strong buy' ratings

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is currently $3.39, up 2.89% for the day.

The uranium explorer released a positive production update for its Honeymoon Uranium Mine in South Australia at the beginning of the month.

The company said the commissioning and ramp-up to steady-state production were proceeding according to plan.

Boss Energy's first NIMCIX production column also achieved nameplate uranium production, which managing director Duncan Craib described as a "pivotal point" in the project's development.

The ASX All Ords energy share is down 20.5% in the year to date.

Select Harvests Ltd (ASX: SHV)

The Select Harvest share price is steady at $3.68 on Tuesday.

Last month, the almond producer completed an institutional equity raising that netted about $61.7 million.

Management said there was significant demand from both existing and new shareholders. Institutional shareholders took up approximately 72% of their entitlements.

The retail component of the equity raising is expected to raise approximately $18.3 million. The retail booklet was lodged last week.

The proceeds of the equity raising will be used to repay some debt and raise processing capacity.

This ASX All Ords consumer staples share is up 27.3% in the year to date.

Firefly Metals Ltd (ASX: FFM)

The FireFly share price is $1.07, up 0.47% on Tuesday.

Last month, the copper-gold explorer reported more high-grade assay results and new high-grade copper zones at its Green Bay Copper-Gold Project in Canada.

The company also completed a $65 million institutional share placement at 95 cents per share.

At the time, that represented a 9.1% discount to the last closing price of $1.045 on 23 September.

This ASX All Ords copper share is up 67.2% in the year to date.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is currently $14.82, down 1.72% for the day.

In September, the company announced it had signed a negotiation protocol with Tjamu Tjamu (Aboriginal Corporation) RNTBC. That's the native title representative body for the Kiwirrkurra People.

The protocol relates to WA1's 100%-owned West Arunta Project in Western Australia.

The ASX All Ords mineral explorer is up 16% in the year to date.

Ora Banda Mining Ltd (ASX: OBM)

The Ora Banda Mining share price is 62 cents, down 1.6% for the day.

Last month, Ora Banda released an update on its Riverina and Sand King underground mines at the Davyhurst Gold Project.

The news included expectations of first development ore at Sand King in the December quarter.

The company aims to increase its annual production from 77,084 ounces now to between 140,000 and 160,000 ounces in FY26. The update sent the ASX All Ords stock 3.57% higher.

Ora Banda was the top-performing ASX All Ords gold share of FY24, up 162% to 34 cents by 30 June.

As my colleague Bernd reported, the miner enjoyed tailwinds from strategic asset sales, promising exploration results, and a $30 million capital raise to advance Sand King operations.

The ASX All Ords mining share is up 146% in the year to date.

The post 5 ASX All Ords shares upgraded to 'strong buy' status in September appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Adairs Ltd (ASX: ADH)

The Adairs share price is down 2.5% to $2.00. This may have been driven by a broker note out of Bell Potter this morning. As covered here, the broker named a couple of ASX retail stocks to buy and two to hold. One of the holds was furniture and homewares retailer Adairs. It has put a $2.00 price target on its shares, which is where it now trades following today's decline. Nevertheless, its shares remain up almost 45% since this time last year. So, shareholders won't be too disheartened.

Cettire Ltd (ASX: CTT)

The Cettire share price is down a further 12% to $1.94. This online luxury products retailer's shares have been bouncing around wildly this week. After rocketing almost 80% on Tuesday, they are now down 17% over the past two trading sessions. This may have been driven by profit taking. The catalyst for Tuesday's massive gain was the company's auditor finally signing off on its FY 2024 results. Not only did this give sentiment a boost, but it likely caused a short squeeze.

Firefly Metals Ltd (ASX: FFM)

The Firefly Metals share price is down almost 6% to 98.5 cents. This follows the completion of $65 million single-tranche institutional share placement at a discount of 95 cents per new share this morning. Management notes that the placement was strongly supported by several existing and new Australian and international institutions. The proceeds will be used to underpin the next phase of resource growth, discovery, and development at the Green Bay Copper-Gold Project in Canada. FireFly's managing director, Steve Parsons, said: "This landmark capital raising puts FireFly in an exceptional position to unlock the full potential of the Green Bay Project, with 100,000 metres of growth drilling planned through 2024/25."

Step One Clothing Ltd (ASX: STP)

The Step One share price is down 8% to $1.73. This has been driven by news that the online underwear retailer's CEO and founder, Greg Taylor, has offloaded $28.3 million worth of shares at a 9.3% discount of $1.70 per share through a fully underwritten block trade. Commenting on the sale, Taylor said: "The sale represents a small portion of my shareholding, and I will remain Step One's largest shareholder with approximately 57.91%. The decision to sell was driven by strong investor demand and enhances liquidity and free float broadening the share register."

The post Why Adairs, Cettire, Firefly, and Step One shares are tumbling today appeared first on The Motley Fool Australia.

As for the gold miners, in FY 2024 the S&P/ASX All Ordinaries Gold Index (ASX: XGD) gained 11.2% compared to an 8.3% gain posted by the All Ordinaries Index (ASX: XAO).

While that's some significant outperformance, it pales in comparison to the gains delivered by the top three performing ASX gold stocks over the financial year.

Which miners are we talking about?

Read on!

The top 3 ASX gold stocks of FY 2024

The third-best performing ASX gold stock in FY 2024 was Red 5 Ltd (ASX: RED).

Red 5 ended FY 2023 trading at 19 cents a share and closed on Friday trading for 36 cents a share for a very tidy 89% gain.

Atop a series of successful exploration results over the year, the Red 5 share price also enjoyed a 20.5% daily gain on 18 September.

That came as investors reacted to news that someone had bought almost 11% of Red 5's shares in a single block trade for 26 cents a share. That represented a premium of 18.2% to the share price on the day. Though, as we know now, Red 5 was poised to keep running higher.

The miner also caught some tailwinds from its own success. This saw it added to the ASX 200 on 18 March as part of the S&P/ASX Indices quarterly rebalance.

Moving on to the second-best performing ASX gold stock in FY 2024, we have FireFly Metals Ltd (ASX: FFM).

FireFly shares closed FY 2023 trading at $5.40 and ended the 2024 financial year trading at 75 cents.

Wait. What?

Oh, right. The ASX gold stock underwent a 15 to 1 share consolidation in early December.

That means we need to compare $5.40 a share to $11.25 a share (15 x $0.75). Meaning the FireFly share price soared 108% over the 12 months.

As you'd expect, a lot went right for the miner, including a successful $52 million capital raise in March that will enable the company to accelerate its resource growth.

The surging share price also saw FireFly added to the All Ords on 28 March as part of the same S&P/ASX Indices quarterly rebalance that saw Red 5 added to the ASX 200.

Most recently, the FireFly Metals share price closed up 13.7% on 19 June when the miner reported on high-grade copper and gold assays from the drilling campaign at its Green Bay Copper-Gold Project, located in Canada.

Gold star performer

Which brings us to the top-performing ASX gold stock in FY 2024, Ora Banda Mining Ltd (ASX: OBM).

The Ora Banda share price was on a solid uptrend for most of the year. Shares finished out FY 2023 trading at 13 cents and closed on Friday changing hands for 34 cents apiece, up a whopping 162%.

The miner enjoyed tailwinds from strategic asset sales, ongoing promising exploration results, and a $30 million capital raise to advance its Sand King underground mining works.

Investors were also enthusiastic about the ASX gold stock's multi-million-dollar farm-in agreement with Wesfarmers Ltd's (ASX: WES) Davyston Exploration, covering the non-gold mineral rights at its Davyhurst Project.

The post How these three ASX gold stocks soared above the rest in FY 2024 appeared first on The Motley Fool Australia.