While the price of gold has been on a steady march higher over the past 12 months, the platinum price has traded sideways until about late May, when it started to shoot higher.

In Australian dollar terms, platinum is now changing hands for $2540.13 per ounce, up from $1452.95 a year ago, for a gain of 74.83%.

Politics and deficits driving price higher

A recent update from the World Platinum Investment Council explains why:

Rising prices were not unexpected given almost two and a half years of market deficits were being exacerbated by geographic demand dislocations as the US grappled with tariff concerns and China ramped up imports.

And the shortage of platinum supply is not expected to ease any time soon.

The Council's report says the global platinum market is expected to be in deficit to the tune of 850,000 ounces this calendar year, while the supply outlook remains depressed.

Mining supply is forecast to decrease by 6% year-on-year as producers will not be able to repeat the drawdown of work-in-progress inventory we saw in 2024. Notably, recycling supply is expected to increase by 6% year-on-year in 2025 with some evidence of higher platinum group metals prices supporting increased recycling.

The Council says that while supply deficits laid the groundwork for the increase in platinum prices, it was "arguably geopolitics and US tariffs" which triggered the price surge this year.

Security of supply appears to be a key theme which is emerging and with platinum markets forecast to remain in deficit while above ground stocks rapidly deplete, competition for metal will be high.

Aussie stocks to look at

So, how do you get exposure to platinum on the ASX?

The easiest way is by buying shares in major platinum miner Zimplats Holdings Ltd (ASX: ZIM), which has enjoyed a 26.2% share price gain over the past year, to value the company at about $2.1 billion.

Zimplats operates four underground mines, an open-pit mine, and various processing facilities, all located in Zimbabwe, and sold 613,337 ounces of platinum in FY25.

The company's stock hit a new high for the past 12 months this week, changing hands for $19.65.

At the junior end of the spectrum, you could look at Southern Palladium Ltd (ASX: SPD), which has seen a more than sevenfold increase in its share price over the past year, now trading at $1.37.

The company is developing its Bengwenyama Project in South Africa, where it has a 6.3 million ounce reserve of platinum group metals, and is conducting further drilling to support a definitive feasibility study for a mine.

Southern Palladium is currently valued at $146.5 million.

There is also Podium Minerals Ltd (ASX: POD), which has enjoyed a share price rise of more than 100% over the past month, to value the company at $86.9 million.

Podium is developing its Parks Reef project in Western Australia, where it has a resource of 7.6 million ounces of platinum group metals, and where it continues to drill.

Podium in early October announced it would raise $12 million at 6.4 cents per share; however, the company's stock is trading higher than that mark, currently changing hands for 9.9 cents apiece.

The post Platinum is outperforming even gold this year. So how can you get exposure on the ASX? appeared first on The Motley Fool Australia.

At time of writing, shares in the ASX resource explorer are up more than 12%, having earlier posted gains of 20%.

Below we take a look at the latest drilling results that look to be stoking ASX investor interest.

What drilling results were announced?

Kicking of the new year on a high note, the Podium Minerals share price is surging after the company reported promising drill results at its 100% owned Parks Reef PGM (platinum group metals) project in Western Australia, alongside the appointment of its new chief executive officer.

Podium completed 2 of the 3 diamond drill holes it plans to test Parks Reef before Christmas. Cores from the 500 metre deep holes are now in Perth with preliminary lithological logging completed.

According to the release, initial core observations indicate both holes intersected "sulphide bearing stratigraphy of the layered intrusion". Podium said that visual analysis provides it with additional confidence that mineralisation is continuing to significant depth.

Commenting on the results, newly appointed CEO Sam Rodda, who officially took the helm on 1 January, said:

This is a very exciting outcome for Podium, with the Stage 8 drilling so far confirming continuity of Parks Reef at depth and that it remains steeply dipping. This drill program has provided further confidence that we have yet to find the limits of the orebody at depth.

We intend to pursue an aggressive exploration strategy aimed at growing our resource base and also testing our orebody for rhodium and iridium to include the full 5E PGM suite of minerals in future resource estimate updates.

Podium Minerals share price snapshot

Podium Minerals shares have stormed higher over the past 12 months, gaining 232%. That compares to a 12 month gain of 13% posted by the All Ordinaries Index (ASX: XAO).

Over the past month, the Podium Minerals share price is up 13%.

The post Up 232% in 1 year, why is the Podium Minerals (ASX:POD) share price rocketing today? appeared first on The Motley Fool Australia.

Podium Minerals' shares are on the move as the company released a suite of price-sensitive updates to the market today.

Let's get straight into analysing each one.

What was announced?

Podium released 4 price-sensitive announcements for the market to digest today. The first is in reference to a share purchase plan (SPP) the company is affording its shareholders.

Under the SPP, eligible shareholders are able to acquire up to $30,000 worth of Podium shares without paying any brokerage costs, commission or transaction fees.

The offer supports the company's recently completed placement of $4.5 million to sophisticated investors at 29 cents per share.

Participants in the SPP will have the right to purchase Podium Minerals shares at 29 cents per share too, which represents a 6.5% discount to its current market price. It closes on 8 November.

The company hopes to raise up an additional $2 million via the SPP, which will be fed straight into its Parks Reef PGM project, in addition to beefing up working capital.

Regarding the Parks Reef project, Podium released another update concerning it as well today. The release notes that diamond drilling is set to commence at the site, to run tests greater than 500m below the surface.

An initial two 750m "deep diamond drill holes" will be dug to test the continuity of the mineralisation identified at the site.

Drilling will take around 4 to 6 weeks to complete, and will test the reef around 520m below the surface. Then, Podium intends to drill a third hole to "target the central sector".

These depths Podium intends to drill to "is more than twice the depth of any previous drilling conducted at Parks Reef".

It follows on from the recent drilling programs where Podium intersected high grade platinum and palladium zones, alongside traces of rhodium and iridium.

What else did Podium release?

Finally, Podium also released two investor presentations today. One of these covers the entire company and the full scope of its operations, capital structure, risks and goes into great detail on mining studies and drill results.

Whereas the other is a specific presentation to the "Canaccord Genuity South-West Connect ASX Showcase" scheduled on 27–28 October.

The latter appears to be a more consolidated version of the full presentation and contains several slides on the Parks Reef site and other strategic supply opportunities.

Investors appear to be piling in on the flurry of updates from the resource company's camp today and have driven the Podium Minerals share price higher on a volume 90% of its 4-week average.

Podium Minerals share price snapshot

The Podium Minerals share price has gained 210% this year to date, however is down around 30% in the last month.

Yet, it has climbed 138.5% in the last 12 months, well ahead of the S&P/ASX 200 index (ASX: XJO)'s return of around 21% in the same time.

The post Here's why the Podium (ASX:POD) share price is up 5% on Tuesday appeared first on The Motley Fool Australia.

The company's shares are expected to remain frozen until it either releases word of the capital raise or the market opens on Monday, whichever comes sooner.

Until then, the Podium Minerals share price will remain halted at its previous closing price of 33 cents.

Let's take a closer look at the company's business and cash position.

What does Podium Minerals do?

Podium Minerals is an exploration company focused on platinum group metals, gold, and base metals. It owns and operates Western Australia's Parks Reef PGM Project.

The company has completed several drill programs at the project and is currently embarking on its deepest yet.

The latest drill program will initially see 2 diamond drill holes extending 750 metres downwards. It will be co-funded by the Western Australian Government.

Podium Minerals' cash position

The last time the market got a look at Podium Minerals' cash position was when it released its earnings for financial year 2021.

The Podium Minerals share price gained 9% on the back of the company's annual earnings report.

As of 30 June 2021, the company had around $3 million of cash and cash equivalents and $332,949 of liabilities.

Over financial year 2021, the company received $198,849 of revenue and recorded a net loss after tax of around $1.2 million.

Additionally, it's been around 15 months since the company last completed a capital raise.

Back then, it underwent a placement and share purchase plan, each worth $500,000. Both the placement and share purchase plan offered new shares in the company for 1.6 cents apiece.

The share purchase plan was ultimately oversubscribed by more than 100%, bringing in $1.04 million. Of that, $110,000 was from directors' investments.

The funds were to go towards growing the Parks Reef Project.

Podium Minerals share price snapshot

This year has been a good one for the Podium Minerals share price.

It has gained 200% since the start of 2021. It's also 371% higher than it was this time last year.

The post Why is the Podium Minerals (ASX:POD) share price frozen on Thursday? appeared first on The Motley Fool Australia.

The red hot sector has been supported by factors including higher commodity spot prices, major economies making firm commitments towards net zero emissions and a steady increase in electric vehicle sales.

A major headline for the industry came about last Thursday when US President Joe Biden signed an executive order targeting 50% of new vehicles sold in 2023 to be electric, according to Reuters.

Top performing ASX shares in 2021

Lake Resource NL (ASX: LKE)

The Lake Resources share price has rallied an extraordinary 728% year-to-date. This is thanks to the ASX share's position as an emerging clean lithium producer.

The company operates its flagship Kachi project as well as three other lithium brine projects in Argentina. The projects cover 200 square kilometres in a location known as the "Lithium Triangle". This is where 40% of the world's lithium is produced at the lowest cost.

Furthermore, a drilling campaign is currently underway at Kachi to support the expansion of future production and reserves.

A definitive feasibility study is in progress for Kachi, with completion anticipated in Q1 2022.

Ecograf Ltd (ASX: EGR)

This ASX share is focused on becoming a supplier of eco-friendly anode material to customers in sectors such as lithium-ion batteries.

The company has made a number of positive recent announcements. These include its fourth-quarter results, a land reservation agreement in Sweden and an update on funding facilities.

The Ecograf share price has lifted 444% year-to-date.

Podium Minerals Ltd (ASX: POD)

This ASX share plans to become Australia's first Platinum Group Metals (PGM) producer.

PGMs are a family of six chemically similar elements — ruthenium, rhodium, palladium, osmium, iridium and platinum — used in a wide range of industrial, medical and electronic applications.

Podium Minerals is undergoing aggressive drilling activities to accelerate its resource estimates.

The Podium Minerals share price is up an impressive 420% this year.

The post What do the best performing ASX shares this year have in common? appeared first on The Motley Fool Australia.

It seems there's always a microcap out there striking gold or developing some tech that helps redefine the way we do business. And often when milestone developments such as these are announced to the market, it can result in the value of a company surging exponentially over a relatively short period of time.

On that note, with FY21 done and dusted, here's a look at three ASX shares that managed to hit the coveted 10-bagger status over the course of the last 12 months.

These ASX shares went gangbusters last financial year

Podium Minerals Ltd (ASX: POD)

Podium Minerals is focused on developing its Parks Reef project, with plans of becoming Australia's first Platinum Group Metal (PGM) producer.

PGMs are a family of six chemically similar elements, most valued for their wide range of industrial, medical and electronic applications.

According to the company's May investor presentation, current inferred mineral resources include 1.39 million ounces of platinum, palladium and gold, as well as 53,900 tonnes of copper all within 100 metres of surface.

Podium Minerals is currently undergoing further drilling to accelerate its resource.

Recent exploration results have continued to show promise, with assay results released on 18 May resulting in a 21% spike in the Podium share price to 67 cents.

The company's promising large-scale PGM asset, combined with its systematic drilling, saw investors flock to the company's shares last financial year. The Podium Minerals share price began FY21 trading at a mere 2.3 cents and capped off the year at 51.5 cents for a whopping 2,139% gain over the 12-month period.

Looking ahead, Podium's investor presentation advised it has commenced mine optimisation studies and preliminary economic analysis to drive its pathway to production.

Vulcan Energy Resources Ltd (ASX: VUL)

During the 2021 financial year, Vulcan Energy began to emerge as a household name in the ASX lithium sector.

The German-based lithium company aims to become the world's first zero-carbon lithium producer for the electric vehicle industry.

According to Vulcan Energy's project timeline, the company is targeting the completion of many production pre-requisites by early 2022. These include offtake agreements with European customers, a bankable feasibility study, further exploration and plant piloting.

If all goes to plan, Vulcan believes construction should commence in late 2022 with its first lithium production taking place by mid-2024.

The company's zero-carbon ambitions, alongside the broader surge in ASX lithium shares, saw the Vulcan share price rally 1,245% from 56.5 cents to $7.70 in FY21.

IOUpay Ltd (ASX: IOU)

The IOUpay share price has been trending lower since February, from record highs of 85 cents to just 23.5 cents by 30 June.

However, shares in the South-East Asia-based buy now, pay later (BNPL) company came from humble beginnings of just 2 cents at the start of last financial year.

By the end of FY21, IOUpay shares had lifted a cool 1,075%.

IOUpay successfully completed a $50 million capital raising back in February 2020, paving the way to accelerate its opportunities in the BNPL sector in South-East Asia.

In February this year, the IOUpay share price staged a significant rally, surging from 17 cents on 5 February to an intraday high of 85 cents on 15 February.

The company's agreement with EasyStore may have been among the catalysts for its strong showing in February.

While the IOUpay share price might have stalled in recent months, the company has continued to be on the lookout for opportunities to grow its presence in Asia.

More recently, IOUpay signed a Master Merchant Agreement with Razer Merchant Services on 15 June.

The post 3 ASX shares that hit 10-bagger status in financial year 2021 appeared first on The Motley Fool Australia.

At the time of writing, the Podium share price is up 19.4%, with shares in the company swapping hands for 80 cents.

Podium is a precious metals exploration and resource development company. Its current focus is on platinum group metals, gold, and nickel-copper sulphides. Its major project is Parks Reef, located in Western Australia.

Today's gains have added even more momentum to the Podium share price's recent meteoric rise. It's gained 63% since the start of the month –including a 15.5% gain yesterday. Most of those increases have come in the last week, during which there has been no news from Podium. 

So, what's Podium been up to lately? Let's take a look.

Mad May

May has been a huge month so far for Podium and the explorer has kept the ASX updated throughout.

Podium's first news of the month was that it had found rhodium and iridium in assay results from its Park Reef Project.

On 5 May, the news pushed the Podium share price up 27% during intraday trade, though it closed only 5% higher than the previous session.

Podium Minerals executive chair Clayton Dodd said at the time the company was delighted to find the metals – particularly as the price of rhodium was around 20 times that of platinum.

Next, Podium announced it received permission and funding from the Western Australian Government to complete two diamond drilling holes in Parks Reef on 11 May.

The state government is to pay 50% of the cost of drilling the holes. Podium will use the holes to test for mineral deposits 500 metres below the earth's surface.

Further, the price of platinum and gold, both of which are found at Park Reef, has increased over the last month. This could also be helping to drive the Podium share price.

Podium Minerals share price snapshot

The combination of good news from Podium Minerals might be the reason its share price is flying high on the ASX.

Currently, the Podium Minerals share price is up 627% year to date and has risen a monstrous 3,850% over the past 12 months.

The company has a market capitalisation of around $187 million, with approximately 280 million shares outstanding.

The post Up 20% today, what's with the Podium Minerals (ASX:POD) share price? appeared first on The Motley Fool Australia.

It's been a bumpy ride for Podium shares today after gaining more than 16% yesterday. In late afternoon trade, the Podium share price has plunged from trading 6% higher at 53 cents to land right back where it started at 50 cents apiece. 

Podium is an exploration and resources development company focused on platinum group metals, gold, and nickel-copper sulphides. The company's project profile includes its Parks Reef project in Western Australia, the WRC nickel and copper sulphide project, and various others.

Podium gets government backing

Podium has secured permission and funding from the West Australian government's infrastructure and exploration fund to drill two diamond drilling holes in Parks Reef, part of the Murchison pastoral land in rural WA. 

Under the deal, the state government will pay 50% of the drilling costs (around $150,000) in boring the two 750m deep holes. This will allow Podium to test potential mineral deposits in Parks that run down more than 500 metres beneath the surface.

The company noted that recent successful drilling programs have identified "high-grade zones" hosting platinum, palladium and rhodium and iridium.

The Podium share price rocketed at the beginning of last week after the company revealed high-grade rhodium and iridium was intersected in Park. Podium's next two holes will dive twice as deep, and a third hole is planned further outside of the area.

Management comments

Podium executive chair Clayton Dodd noted the government's support, saying:

The company would like to express its gratitude to the State Government… for selecting Podium as a suitable applicant and for the financial assistance to drill an exciting new dimension to the Parks Reef PGM project.

By successfully intersecting the reef at such depths would clearly demonstrate the vast dimensions of the mineralised horizon and any variability in PGM grades and may provide invaluable vectors toward higher grade sectors along the extensive 15km PGM strike length of the reef.

Podium share price snapshot

The Podium share price has been a big performer of late, rising more than 35 cents in the past 6 weeks, a quadrupling in value. The Podium share price has risen 2,375% in the past 12 months.

The post What's with the Podium (ASX:POD) share price today? appeared first on The Motley Fool Australia.

Unfortunately for shareholders, with only minutes of trade remaining, Podium shares have retreated to 45 cents, which is still a 5.88% gain for the day.

Let's take a closer look at the mining company's latest assay results.

Park Reef assay results

The assay results announced today from Podium Minerals' Parks Reef Project follow on from the site's previous positive results.

The company has conducted further testing, using a more expensive assay technique to find rhodium and iridium. 

Podium Minerals' extra testing paid off, revealing up to 1.35 grams per tonne of high-grade rhodium and up to 0.7 grams per tonne of iridium.

Previously, Podium Minerals had found platinum, palladium and gold at the project using conventional assay techniques.

The company's inferred mineral resources for Parks Reef contains 1,390,000 ounces of combined platinum, palladium and gold plus base metal credits with 53,900 tonnes of copper. The new rhodium results aren't included in the project's mineral resources due to limited testing having been completed.

According to the company's release, rhodium is known to be the best catalyst for the treatment of gasoline nitrogen oxides emissions. Podium also said iridium has an extremely high melting point and is the most corrosion-resistant metal known. It's often used as a hardening agent together with other platinum-grade metals.

Commentary from management

Podium Minerals executive chair Clayton Dodd commented on the findings, saying:

We are delighted with these initial results for Rhodium and Iridium and when combined with the results from the Platinum, Palladium and Gold assays from the same drill holes, unquestionably they represent the most significant results to date from Parks Reef.

With current rhodium prices some 20 times and iridium five times that of the current platinum price, it doesn't take a lot of grade of either to have a significant impact on the estimated weighted average price per Podium [platinum grade minerals] ounce.

Podium Minerals share price snapshot

The Podium Minerals share price is having a party on the ASX lately, with today's news just its latest boost.

Currently, the Podium Minerals share price is up 309% year to date. It's also up a whopping 2,150% over the last 12 months.

The company has a market capitalisation of around $119 million, with approximately 280 million shares outstanding.

The post Why the Podium Minerals (ASX:POD) share price soared 27% today appeared first on The Motley Fool Australia.