The Pan Asia Metals share price is currently up 1.08% at 47 cents after surging to an intraday high of 53 cents in early trade.

Pan Asia Metals is an ASX battery metals explorer with four lithium projects in southern Thailand.

What did the company announce?

Investors have reacted positively to the company's lithium drilling results from its Reung Kiet Lithium prospect.

In today's release, Pan Asia Metals advised testing results from four drill holes at the mine showed strong lithium mineralisation with robust thickness and grades.

This follows promising lithium results from 6 additional drill holes at the mine, as reported in September.

Lithium is heavily used in electric vehicle (EV) battery technology, which is gaining momentum in Asia and globally.

The company noted its 4 Southeast Asian projects were close to growing EV markets, reducing shipping costs.

Management commentary

Pan Asia Metals managing director Paul Lock said:

We continue to be very satisfied with the assay results we are seeing.

Our drilling results suggest that a 10,000 tonne per annum lithium chemical plant is a realistic objective.

Pan Asia Metals share price snapshot

The Pan Asia Metals share price has surged 235.7% in the past 12 months. This compares favourably against the All Ordinaries Index (ASX: XAO), which is up 10.17% in the past 52 weeks.

However, the company's share price has dropped 12.9% in the past month.

The post Why did the Pan Asia Metals (ASX:PAM) share price surge 10% today? appeared first on The Motley Fool Australia.

The company has released plenty of news over the last 30 days, including updates from its Reung Kiet Lithium Prospect and news of an $8 million capital raise.

Right now, the Pan Asia share price is 47 cents, 176% higher than it was this time last month. It is also up 3.3% on the day.

Let's take a closer look at what's been driving the Pan Asia share price lately.

Quick refresher

Pan Asia is a minerals explorer focused on tungsten and lithium projects in Thailand.

The Pan Asia share price's recent surge began when the company announced it had lodged prospecting licence applications for 5 prospects at its Kata Thong Lithium Project on August 31.

Less than a week later, the company announced news of an $8 million capital raise.

Then, Pan Asia released exciting drill results to the market. As The Motley Fool Australia reported, the company said it had found thick pegmatites, indicating lithium mineralisation, at its Reung Kiet Lithium Prospect.  

Between announcing the news of its Kata Thong Lithium Project and the news from its Reung Kiet Lithium Prospect, the Pan Asia share price gained a massive 353%.

The latest from Pan Asia

The latest news to drive the Pan Asia share price was released on Tuesday.

Then, the company released its share purchase plan's documentation and a drilling update from its Reung Kiet Lithium Prospect.

The drilling update noted Pan Asia received positive assay results from 7 drill holes, finding pegmatite dyke-vein swarms containing lithium mineralisation.

The swarm is up to 100 metres wide, containing pegmatite veins and dykes up to 18 metres wide. The mineralisation is around 1 kilometre long and remains open to the north, south, and at depth.

The assay results also found tin, tantalum rubidium, cesium, and potassium mineralisation. These could become valuable by-products from the project.

A scoping study for Pan Asia's Reung Kiet Prospect is set to be released in the first quarter of 2022.

Additionally, Pan Asia released more details of its $8 million capital raise.

The company has already completed a $6 million private placement and plans to begin a $2 million share purchase plan.

Under the plan, eligible shareholders can get their hands on additional Pan Asia shares for 40 cents apiece.

The raised capital will go towards drilling at the Reung Kiet Lithium Project and exploration applications at the Kata Thong Project. Some of the funds will go to the company's battery and critical metal project generation program.

Investors involved in the share purchase plan must purchase between $2,500 and $30,000 worth of shares. Shares will only be offered in parcels valued at $2,500, $5,000, $7,500, $10,000, $15,000, $20,000, or $30,000.

Pan Asia share price snapshot

Its strong month's performance has boosted the already well-performing Pan Asia share price higher.

Right now, it is 235% higher than it was at the start of 2021. It has also gained 135% since this time last year.

The post Why the Pan Asia (ASX:PAM) share price has gained 176% in a month appeared first on The Motley Fool Australia.

Today's meteoric rise for the ASX battery metals explorer follows a series of recent huge daily gains.

Those daily leaps have seen Pan Asia Metals share price soar an astonishing 380% since 30 August. Yep, that's just 6 days ago.

Yesterday, investor enthusiasm was roused by the company's announcement of its capital raising.

Today, investors appear to be snapping up stock following the release of promising drilling results.

What drilling results did the resource explorer report?

The Pan Asia Metals share price is off to the races again today after the company reported it had intersected thick pegmatites at its Reung Kiet Lithium Prospect in Thailand.

The promising results come from 6 additional drill holes. According to the explorer, they indicate the potential of "extensive lithium mineralisation hosted in lepidolite rich pegmatite dykes and veins".

Pan Asia Metals managing director Paul Lock noted, "Peer feasibility studies suggest that lepidolite is the lowest cost source of lithium and potentially has one of the lowest carbon footprints."

The company has defined a 1-kilometre strike length which remains open.

Some of the top results include:

• RKDD031: 14.9 metre wide pegmatite from 90.1 metre; and 18.4m thick pegmatite from 130.7m
• RKDD030: 31.4m of composite pegmatite thickness from 42.3m-80.2m
• RKDD029: 23.25m thick pegmatite dyke from 49.95m

Commenting on the results, Lock added:

We are rapidly progressing to a Mineral Resource and we are targeting the delivery of a Scoping Study in the first quarter of calendar year 2022. Our aim at the Reung Kiet Lithium Project is to deliver a Mineral Resource which is sufficient to operate a 10,000 tonne per annum lithium hydroxide or lithium carbonate plant for 10 plus years, initially.

The company said it intends to continue drilling, aiming to report a Mineral Resource in accordance with the JORC Code 2012.

It expects assay results for 7 previously drilled holes in about 2 weeks.

Pan Asia Metals share price snapshot

Year-to-date, the Pan Asia Metals' share price has soared 461%. To put that in some perspective, the All Ordinaries Index (ASX: XAO), which is having a very strong year so far, is up 12% in 2021.

The Pan Asia Metals share price is up 342% since this time last month.

The post Why the Pan Asia Metals (ASX:PAM) share price is rocketing 39% today appeared first on The Motley Fool Australia.

Below, we take a look at the ASX critical metals explorer's capital raising announcement issued this morning after the company exited a trading halt.

What did the lithium explorer announce?

Pan Asia Metals is rocketing higher after the company reported it has completed a $6 million private placement capital raising. Institutional and sophisticated investors took up 15 million shares at an issue price of 40 cents per share.

Viriathus Capital acted as Lead Manager.

Pan Asia Metals said it intends to raise an additional $2 million via a Share Purchase Plan (SPP). Under the SPP, existing shareholders will be offered shares at the same price of 40 cents. That's well below the Pan Asia Metals' current share price of 63 cents.

The company plans to use the new funds to accelerate exploration activities at its Reung Kiet and Kata Thong lithium projects, both located in Thailand.

Commenting on the capital raising, Pan Asia Metals' managing director Paul Lock said:

The success of the placement sends a strong message that we are on the right track. Our aim is to build a suite of low cost battery and critical metal projects which provide PAM an option to extend beyond the mine gate and value add; we believe the Reung Kiet and Kata Thong lithium projects will help us achieve this.

Pan Asia Metals share price snapshot

The Pan Asia Metals share price has been on fire over the past few weeks.

And that's no exaggeration.

Shares have soared 313% since 27 August. That brings Pan Asia Metal's gains for 2021 to a whopping 343%, dwarfing the 12% gains posted by the All Ordinaries Index (ASX: XAO) during that same time.

ASX investors have been snapping up shares following the company's lithium project update on 31 August and a positive results update on 1 September.

The post Up 265% in 5 days, why the Pan Asia Metals (ASX:PAM) share price is rocketing 23% today appeared first on The Motley Fool Australia.

This puts the gain on Pan Asia Metals shares at 223% over the last week alone.

What happened for Pan Asia in its half year results?

There was nothing to write home about for Pan Asia in terms of earnings, as the loss after tax increased to $US667,168 from $631,600 over the year.

The company's net assets also decreased to $6.8 million, which is an $8.1 million year on year decline from FY20.

However, investors are likely buying Pan Asia shares on the back of its exploration activities in southern Thailand.

Pan Asia started the period by drilling at the Khao Soon Tungsten project and then "shifted focus" to the Reung Kiet Lithium project.

According to the company, both projects "are significant assets". For example, the Khao Soon site is a "historical tungsten producer" that has "potentially world-class" tungsten mineralisation, as per the company's report.

The Reung Kiet site "contains a collection of small to medium scale historical alluvial and eluvial tin mines".

What else is driving the Pan Asia share price?

In addition to its half-year results, Pan Asia shares also soared 130% on Tuesday after the company announced it had lodged a number of geothermal lithium and hard rock lithium and tin exploration block applications.

The applications were all lodged in southern Thailand, at a site known as the "Kata Thong Lithium Project".

The Pan Asia Metals share price was actually 25% down on the year just before the announcement, trading around 15-20 cents apiece. At the time of writing, the company's shares are changing hands for 50.5 cents each.

The post Pan Asia Metals (ASX:PAM) share price soars another 53% following results update appeared first on The Motley Fool Australia.

Pan Asia shares are on the move today after the company released an announcement just before the market open.

Let's investigate what happened.

A quick refresher on Pan Asia Metals

Pan Asia Metals is a minerals exploration company that has tungsten and lithium projects in Thailand.

It has a suite of specialty metals projects located in the Southeast Asian Tin–Tungsten belt, where a plethora of resources has been located over the years.

At the time of writing, Pan Asia Metals has a market capitalisation of around $19 million.

What did Pan Asia announce?

In what investors deemed a positive for the Pan Asia Metals share price, the company reported it had lodged a number of "geothermal lithium and hard rock lithium and tin exploration block applications".

Specifically, it lodged five "special prospecting licence applications (SPLA)" in southern Thailand, at a site known as the "Kata Thong Lithium Project".

According to Pan Asia, two of the SPLAs "contain geothermal fields" that are "highly prospective" for geothermal-style lithium.

Four of the SPLAs also are highly prospective for "lepidolite-style lithium and tin", where each SPLA contains "at least 1 historic tin mine".

As a result of the applications, and exposure to the Kata Thong lithium project, Pan Asia is a "potential low to zero carbon emitter" via the use of geothermal energy. This is coupled with "nearby" energy from the Rajjabrabha Hydro-electric power station, as per the release.

Pan Asia also stated Kata Thong "potentially positions (the company) to have a zero carbon footprint".

Investors have relished the news today and are buying Pan Asia shares in droves. They have pushed the Pan Asia Metals share price 134.4% higher on the day.

Pan Asia shares are now exchanging hands at 34 cents apiece, well above the opening price of 16.5 cents.

Pan Asia Metals share price snapshot

The Pan Asia Metals share price has posted a year-to-date return of around 150%.

This sits well ahead of the S&P/ASX 200 index (ASX: XJO)'s return of around 14% since January 1.

The post Pan Asia Metals share price soars 130% on lithium project update appeared first on The Motley Fool Australia.