Shares in Globe Metals & Mining Ltd (ASX: GBE), Cobre Ltd (ASX: CBE), and Walkabout Resources Ltd (ASX: WKT) are all outperforming the index today.

Let's take a look at what these three companies announced to the market.

Globe Metals & Mining

Globe Metals and Mining shares are surging 13% today to 9.5 cents. However, in earlier trade, the company's share price rocketed nearly 31% to 11 cents. In today's news, Globe revealed it has entered a mining and development agreement with the Malawi government to develop the Kanyika Niobium Project. Globe described this development as a "significant milestone in Globe's history". Chair Alice Wong said:

With this ultimate approval and final agreement in place, all parties concerned can now focus their efforts and resources on making the Kanyika Project the first niobium mine in Africa and Globe the first new niobium producer in over 50 years.

Cobre

Cobre shares soared nearly 24% today, hitting an intraday high of 13.5 cents a share. The company's share price has since settled at 12 cents, up 14.3%. Cobre is exploring metals including copper and silver in Botswana and Western Australia.

Today, the company advised of a 'Change of Director's Interest' indirectly involving director Martin Holland. Holland International Pty Ltd has acquired 700,000 new shares at a value of $71,225.73. Yesterday, Cobra announced soil sampling and preparation for aircore drilling is underway at the company's Kitlanya West Project in Botswana.

Walkabout Resources

Walkabout Resources shares are up 4.55% in late afternoon trading to 11.5 cents apiece. That's after the company's share price lifted 18% to 13 cents a share earlier today. Walkabout announced today it has signed a term sheet for an up to US$25 million senior debt facility to complete construction of the Lindi Jumbo graphite mine in Tanzania.

Commenting on the news, CEO Andrew Cunningham said:

It is pleasing to know that the Lindi Jumbo Project will be funded through to production.

The post 3 ASX mining shares rocketing over 18% on big news appeared first on The Motley Fool Australia.

At one point during early afternoon trade, the company's shares had rallied by almost 368% to 16.5 cents apiece before retreating to their current level.

What is this company?

Globe Metals & Minerals is an ASX resources company focused on resource exploration and development primarily in Africa. Its flagship project is the Kanyika Niobium Project in Malawi.

Globe Metals has been an ASX-listed company since June 2016. Until late last year, the company's share price hadn't really done anything remarkable. Globe shares spent a few years bumping along around 1 to 2 cents per share. But things turned around in October when Globe hit 3 cents per share and 4 cents by December.

Globe Metals shares were actually in a trading halt since Friday morning. At the time, the company said shares would resume trading on 8 June at the latest, pending an announcement. Well, we got the said announcement this morning.

So what's going on with the Globe Metals & Mining share price today?

Globe released a statement around market open this morning. In this statement, the company informed investors the Malawi Government's Mineral Resources Committee has reviewed Globe's mining licence application for its Kanyika Niobium Project. The recommendation is for the grant of a mining licence.

According to Globe, this recommendation is a "critical and formal step" in obtaining a full license for its project. The company "now awaits receipt of the mining licence and subsequent execution of the Development Agreement with the Government of Malawi".

Globe also told the markets it "is of the understanding that the licence will have a mining lease term of 25 years from the date of issue consistent with the Mines Act".

Here's some of what Globe's managing director, Alistair Stephens, had to say on the news:

Globe has been working diligently and cooperatively with all stakeholders for many years to achieve grant of a  mining licence for the Kanyika Niobium Project. Formal approval from the Malawi Government's Mineral Resources Committee to grant the Mining Licence is a significant step forward for the company's goal of becoming a niobium producer. I am particularly pleased for the Globe team who have stayed the course despite many obstacles in recent times.

Clearly, investors are over the moon about the news, given the company has more than tripled in valuation just today. At the current share price, Globe Metals & Mining has a market capitalisation of $67.5 million.

The post ASX stock of the day: Globe Metals & Mining (ASX:GBE) shares up 200% appeared first on The Motley Fool Australia.