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Resources Top 5: Trump-fuelled critical minerals war sets ASX stocks alight
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- Critical mineral stocks lead the gains
- Lode Resources finds up to 31.9% antimony at its Tasmanian asset
- Germanium and gallium explorer MTM up on no news with more than $1.5m worth of shares changing hands
Your standout small-cap resources stocks for Tuesday, February 24, 2025.
MTM Critical Metals (ASX:MTM)
(Up on no news)
A critical minerals war is brewing and stocks with exposure to commodities like tungsten, antimony, gallium and graphite are responding with exploration plans, test work and drilling programs as their share prices continue to tick higher.
While the rush to find these metals is nothing new, the critical mineral space has been pushed to the fore as US president Donald Trump seeks to grab 50% of Ukraine’s natural resources, including critical minerals as well as oil and gas.
Though this is unlikely to pass through Ukraine’s government, it nonetheless highlights just how important critical minerals have become.
At the time of writing, MTM is up ~13% on no news but more than $1.5m worth of shares changed hands, signalling strong investor interest.
Earlier this month the company made a major technological breakthrough at its lab in Houston, US after achieving very high recovery rates of up to 90% for gallium and 80% for germanium from semiconductor metal refining waste using the company’s ‘flash joule heating’ (FJH) technology.
Both germanium and gallium are used in semiconductors, essential components for the proper functioning of literally everything from smartphones to nuclear submarines, medical equipment and wireless communications.
Germanium is also found in infrared technology, fibre optic cables and solar cells.
MTM managing director and CEO Michael Walshe said the breakthrough positions the company at the forefront of a multi-billion-dollar market as industries and governments seek sustainable critical mineral supply solutions.
Discussions are ongoing with industry partners regarding commercial business models to maximise recoveries and ways to optimise value for large-scale applications of the company’s FJH tech.
Lode Resources (ASX:LDR)
Surface mapping and sampling has uncovered high-grade antimony and silver along strike from Lode’s recently acquired Montezuma antimony project in Tasmania’s West Coast mining province.
The work had focused on a historical coincident geochemical soil anomaly and modelled extension of the Montezuma mineralised structure at surface and along strike.
Sampling returned top assays of 31.9% antimony, 5460g/t silver and 0.25g/t gold (sample R462) and 23.8% antimony, 5430g/t silver and 3.04g/t gold (sample R463).
These results – along with a coincident strong 500m long geochemical soil anomaly – have the potential to extend the Montezuma antimony and silver lode along strike by a substantial factor.
Montezuma is currently defined by 12 recently reported high-grade antimony and silver drill intercepts that demonstrated the mineralisation is generally much wider than previously thought.
It is a structurally controlled lode, emplaced primarily within the well-known Montezuma fault and hosted by a sequence of turbidites, siltstones, sandstones and black shale units.
Antimony is a key component in ammunition and other weapons.
It is also used in panels to increase their efficiency and in making batteries less flammable. It is classified as a critical metal by both the Australian federal government and the Tasmanian state government, as well as almost every advanced Western nation.
Akora Resources (ASX:AKO)
AKO has boosted the mine life and economics of its planned direct shipping ore (DSO) operation in Madagascar after increasing resources by 35% to 10.6Mt at 54.8% iron.
This increase over the 2024 resource estimate was accompanied by a 27% increase in higher confidence indicated DSO resource tonnes to 6.6Mt at 59.7% iron.
It also includes 2.1Mt of intermediate material grading between 30% and 58% iron which mineral processing studies have shown to be readily upgradeable using conventional dry coarse magnetic separation to deliver saleable lump and fines iron ore products.
The company said the updated resource estimate will be used as the basis of the Bekisopa pre-feasibility study that is scheduled for release in March 2025.
AKO first acquired a 75% stake in its flagship Bekisopa iron ore project in June 2014 before acquiring the remaining 25% in July-August 2020.
To generate cash in the near-term, the company is advancing plans to produce up to 2Mt per annum of DSO ore with an average grade of 60% iron over the first five years.
Jindalee Lithium (ASX:JLL)
JLL has raised a cool $2.75m before costs with the sale of its holding in Dynamic Metals (ASX:DYM), which was spun out of Jindalee in January 2023 following a $7m IPO.
JLL became a pure play US lithium-focused stock with its 100% owned McDermitt project.
The results of a PFS in mid-November last year confirmed a 63 year life with the asset producing 1.8Mt Lithium Carbonate at C1 costs of US$8,670/t for the first 40 years and a five year payback.
Funds from the Dynamic sale will now be used to improve project economics as permitting and engagement discussions with potential funding partners and the community continues to take place in the background.
“History shows that projects advanced during downturns are best positioned to capture the upswing, and with lithium prices at unsustainable levels, a supply crunch is inevitable,” JLL CEO Ian Rodger said.
“This funding provides us the runway to progress key catalysts.
“As one of the most advanced sedimentary lithium projects in the US, McDermitt is strategically positioned to benefit from the policy priorities of the new administration as the US moves to secure domestic supply of critical minerals.”
Gorilla Gold Mines (ASX:GG8)
Maiden drilling results at the Lake View prospect within the broader Comet Vale asset, 95km north of Kalgoorlie, has recorded a 130g gram-metre intercept with grades up to 10g/t.
The prospect, 1.7km east of the company’s Sovereign prospect, has historical workings for gold and tungsten but only three prior drillholes.
GG8 says the mineralisation is open in all directions and drilling is ongoing.
Over at the Vivien prospect, new results included 8m at 3.6g/t gold from 156m and 3m at 3.6g/t gold from 182m.
“Lakeview has only been lightly tested previously, and these results are a material improvement on previously known mineralisation from the area,” GG8 CEO Charles Hughes said.
“Meanwhile, maiden drilling at Vivien has demonstrated exploration upside in a project where mining of the main lode has been the focus.”
