Let's take a look at three ASX materials and resources stocks soaring as high as 18% on Thursday.

3 ASX mining shares taking to the skies today

First up, the Patriot Battery Metals Inc (ASX: PMT) share price is taking off today. It's lifting 29% right now to trade at $1.13.

Its surge follows news the lithium developer has identified the highest-grade intercept yet at its Corvette Property in Quebec, Canada.

Drilling at the project returned 156.9m at 2.12% lithium oxide, including 25m at 5.04% lithium oxide or 5m at 6.36% lithium oxide.

Patriot Battery Metals floated on the ASX in early December following a $4.2 million initial public offering (IPO).

Joining the lithium share to post a whopper of a gain today is a slightly unusual mining company. The Minbos Resources Ltd (ASX: MNB) share price is up 18% right now, trading at 13 cents.

ASX market watchers are likely used to seeing mining companies digging for metals.

Minbos, on the other hand, is digging for phosphate rock – a key ingredient in some fertilisers.

It's also building a plant to produce enhanced phosphate rock granules, which will become feed stock for fertiliser designed for the Angolan agricultural sector.

Today, the company announced the fertiliser plant and equipment were on their way to the African nation, with the first shipments having already arrived.

Additionally, it said initial construction activities at its Cácata phosphate deposit remained on target and within budget.

The final mining share posting a whopping gain today is Aruma Resources Ltd (ASX: AAJ). The stock is up 20.2% right now, trading at 9.5 cents.

Interestingly, there's been no news from the tiny lithium hopeful to explain today's rise.

The last time the market heard anything from the company was last week when it released a positive update on assay results from its Mt Deans Lithium-Rubidium Project.

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The Minbos Resources Ltd (ASX: MNB), Meteoric Resources NL (ASX: MEI) and BBX Minerals Ltd (ASX: BBX) share prices are all lifting today.

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

BBX Minerals

BBX Minerals shares are lifting 19% at the time of writing to 8.7 cents. However, in earlier trade BBX shares soared 27% before retreating. BBX is a mineral exploration and technology company with operations in northern Brazil.

In news today, BBX advised bioleaching test work is continuing to show "excellent results". Results from a sample from drill hole TED-015 showed a recovered grade of:

• 95.38 g/t 5E precious metals (14.13 grams per tonne (g/t) gold, 79.27 g/t palladium, 0.17 g/t platinum, 0.72 g/t lawrencium and 1.1 g/t rhodium)

The BBX share price has descended nearly 44% in the last year. However, it has recovered 24% in the last week.

Minbos Resources

Minbos Resources shares are soaring 22% today to 9.3 cents despite no news from the company. The company is developing the Cabinda Phosphate Project and the Capanda Green Ammonia Project.

Last week, Minbos reported it had signed a historic green energy Memorandum of Understanding (MOU) for the Capanda Green Ammonia Project. The MOU has been signed between Minbos' wholly owned subsidiary Green Amonia and Angola's National Electricity Transmission Network. Minbos described the agreement as a "global green energy first". Commenting on the news, Minbos CEO Lindsay Reed said:

The MOU with Angola's National electricity network operator has created a number of green project global firsts.

The Minbos share price has slid 15% in the last year.

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While that's a welcome boost, it pales in comparison to the smashing gains posted by three ASX mining shares today, all of which are up 20% or more.

So which ASX mining shares are rocketing?

We're glad you asked!

This ASX mining share is up 20% today

The Minbos Resources Ltd (ASX: MNB) share price is up 19.5% at the time of writing to 6 cents per share, having earlier posted intraday gains of more than 23%.

Investors are snapping up shares in the mineral explorer after the company reported it will complete the definitive feasibility studies at its Cabinda Phosphate Project and its Capanda Green Hydrogen-Ammonia Project, both located in Angola.

The ASX mining share will use the $2.5 million it just received from ALS for its remaining interests in the Ambato Rare Earths Project, located in Madagascar.

Minbos CEO, Lindsay Reed highlighted the potential value of the hydrogen project, saying:

Our positioning with the Green Hydrogen-Ammonia Project puts the Company ahead of most, if not all, other ASX listed peers giving Minbos a significant time, infrastructure spend and power pricing advantage. These advantages cannot be underestimated.

The Minbos share price is now up 158% year-to-date.

Today's second big gainer

The second ASX mining share shooting the lights out today is Greenstone Resources Ltd (ASX: GSR), up 24.4%. to 5.6 cents per share.

The gold explorer appears to be getting a delayed boost from yesterday's release announcing positive drill results from its 100% owned Burbanks Gold Project, located in Western Australia.

Greenstone reported that the ongoing drill campaign "continues to return multiple high-grade intercepts".

Commenting on the strong gold results, Greenstone CEO, Chris Hansen said:

We are highly encouraged by these most recent results from Burbanks North, having returned multiple bonanza grade intercepts in quick succession which are in line with the historical underground production grades from the Burbanks Mining Centre.

Which brings us to…

Today's top performing ASX mining share

Leading the charge higher is Conico Ltd (ASX: CNJ). Shares in the mining minnow are up an eye-popping 66.7% today to 4 cents per share.

The ASX mining share is primarily focused on cobalt, nickel, and manganese, but its share price appears to be moving for reasons unrelated to any new discoveries.

Instead, Conico reported this morning on the shortfall in subscriptions for its fully underwritten, pro-rata non-renounceable rights offer made to shareholders. That offer was fully written by Peloton Capital and closed on 18 May.

Conico stated:

Accordingly, upon completion of issuing of the new shares (and one for two free attaching options to acquire Shares at 2.6 cents each on or before 31 December 2026), the total amount raised (after the shortfall was placed) is $2,492,202

Despite today's big lift, the ASX mining share remains down 2.5% year-to-date.

The post 3 ASX mining shares surging by more than 20% today appeared first on The Motley Fool Australia.

In afternoon trade, the phosphate and green hydrogen focused exploration and development company's shares are up 21% to 15.7 cents.

Why is the Minbos share price shooting higher?

Investors have been bidding the Minbos share price higher today after the company announced the completion of the sale of its interests in the Ambato Rare Earths Project in Madagascar.

According to the release, the company has received sale proceeds of A$2.46 million from ALS (Hong Kong) from the divestment.

These proceeds will now be used to complete the definitive feasibility study (DFS) for the Cabinda Phosphate Project and studies for the Capanda Green Hydrogen-Ammonia Project. Both projects are based in Angola.

Management believes the Capanda Green Hydrogen-Ammonia Project will become another key value driver for the company. Particularly given its supply agreement with RNT-EP, Angolan's power network operator.

Minbos previously revealed that it has agreed in principle to supply RNT-EP with 200MW of Zero-Carbon hydro electrical power from the project. This appears to have caught the eye of other parties, with Minbos revealing the receipt of a number of unsolicited enquiries from potential technical, offtake and investment partners today.

Finally, the company also revealed that it has received initial in-bound enquiries on the ability to use phosphate from the Cabinda Phosphate Project for the production of Lithium Iron Phosphate batteries.

Management commentary

Minbos CEO, Lindsay Reed, was pleased with the news. He said:

Our hard work and persistence in Angola is starting to pay dividends, with multiple potential business opportunities on the table that we believe will quickly overtake our phosphate project in relation to returns for shareholders.

Our positioning with the Green Hydrogen-Ammonia Project puts the Company ahead of most, if not all, other ASX listed peers giving Minbos a significant time, infrastructure spend and power pricing advantage. These advantages cannot be underestimated.

The post Minbos share price rockets 21% on green hydrogen news appeared first on The Motley Fool Australia.

At the time of writing, shares in the Australian-based phosphate specialist are swapping hands for 18 cents apiece, up 5.88%. In early trade, they were as high as 20 cents, which represents a 17.6% gain on the previous closing price.

This comes after the company announced a key update regarding the production of nitrogen fertiliser and green ammonia in Angola.

Here are the details out of the Minbos camp today.

What was announced?

In news possibly fuelling the Minbos Resources share price, the company has received support from the Angolan Ministry of Agriculture to produce green ammonia and nitrogen fertiliser in the country.

This came after Minbos submitted a letter of intent (LOI) to several departments in the Angolan cabinet seeking approval.

The LOI contained a proposal to "develop a nitrogen fertiliser facility using green ammonia produced from hydroelectric power from the Capanda Hydroelectric Dam".

For reference, the Capanda Hydroelectric Dam is located on the Kwanza River, Angola. It generates a total installed capacity of 520 megawatts from four turbines.

Minbos intends to produce nitrogen fertiliser from green ammonia by adding nitrogen to phosphate from its Cabinda Phosphate project. It will sell the fertiliser locally to what the company claims is one of the world's most prospective agricultural regions.

Pleasingly, the Ministry has agreed to provide the necessary support to Minbos to ensure the implementation of the project.

The proposed location of the facility is strategically located "within trucking distance to the Malange agricultural corridor and major regional mining projects".

This should reduce transport and distribution costs, ensuring a competitive cost advantage, the company says.

From its discussions with the Ministry of Energy in Angola, Minbos confirms 100 megawatts of hydropower is available for the project. It can also make a submission for a "staged tariff structure to offset high fixed costs during the market development phase".

Speaking on the announcement likely driving the Minbos Resources share price, CEO Lindsay Reed said:

Green ammonia is a natural progression for Minbos and its NPK for Angola strategy and a great opportunity for Angola to establish a competitive sustainable fertiliser industry to underpin the development of its agricultural sector. We are excited about advancing this project with the support of the Angolan Government.

Minbos Resources share price snapshot

The Minbos Resources share price has been an absolute star on the ASX these past 12 months. It has climbed around 350% during that time, and 370% this year to date.

That's a galaxy away from the S&P/ASX 200 index (ASX: XJO)'s gain of around 25% in the last 12 months and 10% year to date.

The post Why did the Minbos Resources (ASX:MNB) share price leap 18% today? appeared first on The Motley Fool Australia.

The phosphate ore developer and explorer's shares rocketed as much as 41% to a multi-year high of 15.5 cents.

The Minbos Resources share price ultimately ended the day 23% higher at 13.5 cents.

Why did the Minbos Resources share price rocket higher?

Investors were bidding the Minbos Resources share price higher today following the release of an event presentation.

That presentation provides investors with a summary of the company's operations, plans, and industry trends.

According to the release, the company is aiming to build a high-impact nutrient production and distribution business for Central Africa.

It is hoping to achieve this with its Cabinda Phosphate Project in Angola. At a recent showcase event, this project was affirmed as a Project of National Importance to Angola and the wider Economic Community of Central African States (ECCAS) Region.

This partly due to the International Fertilizer Development Center (IFDC) forecasting the Angolan fertiliser market to grow 10x in the future. Furthermore, over a 10-year period, the IFDC expects Minbos' and the AFFPP to create 20,000 jobs in fertilizer distribution and agribusiness for a total economic value of more than US$2 billion.

Management commentary

Minbos Resources' CEO, Lindsay Reed, recently commented: "What is now clear from subsequent meetings, was that that our showcase was a watershed moment for the Company and the Project, a moment for which Government support coalesced behind both our plans and that of the AFFPP. It's now clear that Minbos has the support of the Government to produce not only Rock Phosphate Fertilizer, but to execute a range of Agri-business opportunities."

"Through all of the challenges that developing a project during a pandemic has thrown-up, it's clear that our Project and that of our project partners at the IFDC are having a real impact and gaining real momentum. On behalf of the Board of Minbos, we thank all of the various stakeholders representatives for their attendance as we look forward to being a part of Angola's growth story, one of the most compelling agricultural stories globally," he added.

The Minbos Resources share price is now up 240% in 2021.

The post Why the Minbos Resources (ASX:MNB) share price rocketed 41% higher appeared first on The Motley Fool Australia.

At the time of writing, Minbos shares are up 3.41% to 9.1 cents apiece. However, it's worth noting that its shares climbed as high as 10 cents during the first hour of market open.

What did Minbos announce?

In the release, Minbos advised it successfully showcased its fertilizer plans for Angola and the Economic Community of Central African States (ECCAS).

Held in Luanda, Angola's capital, the high-level meeting affirmed the company's Cabinda Phosphate Project as national and regional importance.

Attendees included Angolan government ministers, along with representatives from the Angolan presidential office, Angolan Sovereign Fund, non-government organisations and more.

The presentation consisted of the Cabinda Project, mining potential, Futila Granulation Plant, fertilizer blend, market development and local employment opportunities.

The International Fertilizer Development Centre (IFDC) provided an overview of the Angola Fertilizer and Farm Productivity Program (AFFPP). It's expected that the IFDC will drive Minbos' offtake and deliver fertilizer of 200,000 metric tonnes for Angola small holder farmers within the first 5 years.

During the meeting, it was conveyed that the Cabinda Project was strongly supported by the Angolan government.

Minbos CEO, Lindsay Reed commented:

What is now clear from subsequent meetings, was that that our showcase was a watershed moment for the Company and the Project, a moment for which Government support coalesced behind both our plans and that of the AFFPP.

It's now clear that Minbos has the support of the Government (Angola) to produce not only Rock Phosphate Fertilizer, but to execute a range of Agri-business opportunities.

Through all of the challenges that developing a project during a pandemic has thrown-up, it's clear that our Project and that of our project partners at the IFDC are having a real impact and gaining real momentum.

Minbos share price summary

Over the last 12 months, Minbos shares have enjoyed fruitful returns of more than 360%. In 2021 alone, the company's share price has gained close to 150%.

Based on today's price, Minbos has a market capitalisation of roughly $43.1 million, with 464 million shares on its books.

The post Minbos Resources (ASX:MNB) share price pushes higher on project update appeared first on The Motley Fool Australia.

Why is the Minbos Resources share price surging?

The big news this morning was Minbos releasing its latest quarterly cash flow and activities reports to the market. Minbos reported net operating cash outflows of $483,000 but positive quarterly net cash flow thanks to $6.6 million in net equity raise proceeds.

March quarter highlights included:

• Execution of the Mineral Investment Contract (MIC) for exploration and feasibility studies to produce phosphate rock by Minbos within the Cabinda Phosphate Project area;
• Adoption of global standards for Environmental, Social and Governance (ESG) reporting;
• Recommencement of field trials in Angola and greenhouse experiments in the USA; and
• A $7.3 million placement to fund its Definitive Feasibility Study and accelerate the Cabinda Phosphate Project initiatives.

The Minbos Resources share price has shot higher on the back of this morning's update. The execution of the MIC is a big step forward for Aussie mining which formalises the company's engagement with Government Ministries and the Province of Cabinda in Angola.

Angola's Ministry of Mineral Resources, Petroleum and Gas approved Minbos' Mining Licence in March 2021. That licence is renewable for up to 35 years for phosphate mining from the Cacata Deposit.

Minbos has engaged impact monitoring technology platform Socialsuite to help measure outcomes against its new ESG framework and reporting process.

The coronavirus pandemic has impacted Minbos alongside many global miners. However, the company said it is still in the process of gaining exemptions to ongoing Angola restrictions which may impact previous development timelines.

The $7.3 million placement was completed in mid-February and was oversubscribed. The Minbos Resources share price jumped higher following that placement which issued 91.25 million fully paid ordinary shares.

Foolish takeaway

The Minbos Resources share price has shot more than 10% higher today after this morning's quarterly update. Progress with government licences, ESG compliance and a strong financial position have helped propel the company's shares higher.

The post Why the Minbos Resources (ASX:MNB) share is rocketing 7% higher appeared first on The Motley Fool Australia.

Reporting ESG performance had always been an inexact science, unlike well-established accounting standards.

But the World Economic Forum in September published a set of metrics that corporates can use to evaluate their ESG chops.

Using this framework, 6 Australian-listed companies announced Wednesday that they would start reporting ESG metrics in their quarterly reports required by the ASX:

• Euro Manganese Inc (ASX: EMN)
• Vulcan Energy Resources Ltd (ASX: VUL)
• Elixir Energy Ltd (ASX: EXR)
• Minbos Resources Ltd (ASX: MNB)
• MyFiziq Ltd (ASX: MYQ)
• WhiteHawk Ltd (ASX: WHK)

Melbourne tech firm Socialsuite is providing the software for these companies to report their non-financial metrics.

Vulcan Energy is a mining company with a $259 million market capitalisation that's developed a method to produce lithium with minimal carbon emissions.

Managing director Francis Wedin said his business was proud to be one of the first adopters of the new standard ESG metrics.

"Positive impact and ESG is the core reason we started the company," he said.

"We know that by delivering against ESG we can create long term sustainable value, while driving positive outcomes for the business, the economy, society, and the planet."

Most investors care about ESG now

Unfortunately for those trailblazing companies, 20% of Australian investors would take higher returns over their own moral code.

But this also means 80% of local investors care about how the companies they buy into align with their personal beliefs.

The rise of ESG as a factor in investment choices was prominently on display last year after Rio Tinto Limited (ASX: RIO) blew up the historically significant Juukan Gorge.

The multinational mining giant initially defended its actions, saying its actions complied with the law. 

An internal investigation later stripped $7.2 million of bonuses off 3 executives, but this only caused more public outrage for putting a 'valuation' on the priceless site.

But sustained pressure from major shareholders, including some of Australia's biggest superannuation funds, sent the 3 executives packing – albeit with massive enough golden handshakes that would mean they never had to work again.

"Investors have stepped up in this instance and demonstrated that they will not accept corporate misinformation and the absolute disrespect to cultural sites that has become Rio's modus operandi," Australasian Centre for Corporate Responsibility legal counsel James Fitzgerald told The Motley Fool at the time.

"Shareholder democracy and investor action is alive and well in Australia."

The spectacular 700% rise in the share price of Tesla Inc (NASDAQ: TSLA) last year was also a case in point. Many retail investors were thrilled with backing a company they considered a part of the solution, rather than the carbon-emitting establishment.

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