Who Made the Gains? Here are June’s top 40 miners and explorers
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What happened to the most talked about commodities in June?
Star performer iron ore hit US$US220/tonne (again) late in the month to be up ~38% year-to-date.
The benchmark lithium price in index was up another 2.9% month-on-month, according to Benchmark Mineral Intelligence.
A year ago, Aussie lithium spodumene producers were in dire straits and accepting sub-$US400/t.
Prices have now punched through $US600/t, with Chinese major Ganfeng now expecting prices to keep rising back to the 2018 level of +$US1,000/t.
Copper prices softened ~8% in June after hitting record highs in May, but Citi have upgraded their near-term outlook in light of the recent sell-off and remain bullish on prices over the next 3-6 months.
Nickel, meanwhile, continued to shrug off Chinese scare tactics to surge past $US18,500/t.
Gold did it tough, posting its worst month since November 2016 in June.
On a positive note, experts say the drop in gold equity valuations could create a buying opportunity.
And guess what investors? There’s still a tonne of money to be made in coal – especially the steelmaking stuff — as the dark clouds surrounding the sector in 2020/ 2021 begin to lift.
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop
|CODE||COMPANY||MONTHLY RETURN %||PRICE||MARKET CAP||COMMODITY||WHERE|
|GBE||Globe Metals & Mining||313||0.165||$ 76,877,191.55||Niobium||Malawi|
|COD||Coda Minerals||251||1.315||$ 107,769,145.75||Copper, Gold||South Australia|
|RAG||Ragnar Metals||167||0.072||$ 24,313,312.01||Nickel, Copper, Gold||Sweden, WA|
|CVS||Cervantes Corp||118||0.008||$ 12,432,099.71||Gold||WA|
|SYA||Sayona Mining||91||0.082||$ 422,603,020.75||Lithium, Gold||Canada, WA|
|TRN||Torrens Mining||79||0.26||$ 17,735,883.88||Copper, Gold||South Australia, VIC|
|LSA||Lachlan Star||72||0.055||$ 69,933,199.00||Nickel, Copper, PGE, Gold||WA|
|CAP||Carpentaria Resources||65||0.215||$ 102,284,238.68||Iron Ore||NSW|
|POS||Poseidon Nickel||52||0.105||$ 294,988,559.46||Nickel||WA|
|PSC||Prospect Resources||50||0.225||$ 84,010,655.93||Lithium||Zimbabwe|
|INF||Infinity Lithium||46||0.105||$ 42,278,728.38||Lithium||Spain|
|ASM||Australian Strategic Materials||45||7.29||$ 1,016,998,783.74||Rare Earths, Zirconium, Niobium, Hafnium||NSW|
|BRL||Bathurst Resources||45||0.45||$ 76,928,230.35||Coal||New Zealand|
|AQC||Australian Pacific Coal||44||0.18||$ 9,087,265.80||Coal||NSW|
|LTR||Liontown Resources||42||0.81||$ 1,473,479,084.61||Lithium, Nickel, Copper, PGE||WA|
|STK||Strickland Metals||42||0.044||$ 32,351,111.50||Gold||WA|
|GLN||Galan Lithium||41||0.91||$ 222,630,668.26||Lithium||Argentina|
|VAR||Variscan Mines||39||0.079||$ 21,022,454.90||Zinc, Lead||Spain|
|VMS||Venture Minerals||38||0.145||$ 192,730,996.04||Iron Ore, Tin, Tungsten, Nickel, Copper, PGE||Tasmania, WA|
|BCI||BCI Minerals||38||0.565||$ 338,553,555.65||Salt, Potash, Iron Ore||WA|
|LKE||Lake Resources||33||0.345||$ 365,010,802.82||Lithium||Argentina|
|GWR||GWR Group||29||0.33||$ 99,919,526.19||Iron Ore||WA|
|EMH||European Metals||28||1.545||$ 200,624,375.93||Lithium||Czech Republic|
|BUX||Buxton Resources||25||0.15||$ 20,408,314.80||Nickel, Copper, Gold||WA|
|PLL||Piedmont Lithium||24||1.045||$ 616,978,241.00||Lithium||US, Canada|
|CRN||Coronado Global Resources||24||0.87||$ 1,458,514,745.10||Coal||US, QLD|
|VR8||Vanadium Resources||24||0.062||$ 25,943,534.51||Vanadium||South Africa|
|NAG||Nagambie Resources||23||0.087||$ 43,494,114.10||Gold||Victoria|
|AHQ||Allegiance Coal||21||0.68||$ 192,050,746.24||Coal||US, Canada|
|MNB||Minbos Resources||21||0.075||$ 34,802,467.28||Phosphate||Angola|
|AAU||Antilles Gold||20||0.082||$ 20,695,864.22||Gold||Cuba|
|CTM||Centaurus Metals||19||0.805||$ 276,701,886.86||Nickel||Brazil|
|JNO||Juno||19||0.19||$ 25,775,020.19||Iron Ore||WA|
|DTR||Dateline Resources||19||0.095||$ 35,888,739.00||Gold||US|
|QPM||Queensland Pacific||19||0.16||$ 192,295,612.00||Nickel, Cobalt, Iron Ore, HPA||QLD|
|TRM||Truscott Mining||18||0.039||$ 5,340,720.22||Gold||Northern Territory|
|DKM||Duketon Mining||18||0.325||$ 39,362,148.80||Nickel, Copper, PGE||WA|
|AIS||Aeris Resources||18||0.2||$ 441,470,551.60||Copper, Gold||South Australia, NSW, QLD|
|FEX||Fenix Resources||17||0.37||$ 173,979,150.40||Iron Ore||WA|
In June, the Malawi government recommended Globe Metals & Mining (ASX:GBE) receive a mining licence in a “significant step forward for the company’s goal of becoming a niobium producer”.
Alloys containing niobium are used in jet engines and rockets, beams and girders for buildings and oil rigs, and oil and gas pipelines.
The company surged +310% on the news to its highest point in about nine years.
Meanwhile, junior joint venture partners Coda Minerals (ASX:COD) and Torrens Mining (ASX:TRN) hit 200m of “intense IOCG alteration”, including ~50m of copper sulphides at the ‘Elizabeth Creek’ project in the Stuart Shelf region of South Australia.
This could be huge.
Iron oxide copper gold ore deposits (IOCG) — like BHP’s Olympic Dam mine or more recent Oak Dam discovery — can be tremendously large, and simple-to-process concentrations of copper, gold and other economic minerals.
The catalyst appeared to be positive results of a two-year field study around quality and yield from the phosphate fertiliser product, which has resulted in a steady stream of orders from new and existing clients.
Canada-focused lithium play Sayona Mining (ASX:SYA) gained another 91% in June for an eyewatering year-to-date gain of 880%.
In June, a Canadian court approved Sayona’s ~$107 million acquisition of the mothballed North American Lithium (NAL) operation, which will be integrated into the nearby Authier project to create a world scale lithium hub.
The wider lithium cohort also continue to perform well — June winners Prospect Resources (ASX:PSC), Liontown Resources (ASX:LTR), Lake Resources (ASX:LKE), Galan Lithium (ASX:GLN), European Metals (ASX:EMH) and Piedmont Lithium (ASX:PLL) are now up 50%, 95%, 360%, 150%, 28%, and 175% respectively in 2021.
The coal sector was hit by a confluence of shit in 2020 and early 2021. COVID-19, followed by China’s ban on Australian coal, was a one-two punch.
The irony is that while the price of Australian met coal fell to ~$US100 per tonne, Chinese steel mills were forced to pay up to $US265 per tonne for lower quality domestic coal — and much higher prices than benchmark for other imported coal.
But things appear to be coming good for ASX coal stocks.
In June, Bathurst Resources (ASX:BRL) (+45% in June) announced it would exceed 2021 financial year (FY21) earnings guidance of $55.4m as prices recover.
During the last quarter the premium coking coal benchmark price surged from $US110/tonne to a recent high of US$182/tonne, it says.