ASX-listed small cap resources stocks with a gold focus have traditionally dominated our top 50. But this month  it was lithium, rare earths and coal plays which made the biggest moves.

We’ll tell you why in a minute, but check out this delicious donut chart first:

 

MAY WINNER:

Liontown Resources (ASX:LTR) +307%

 “We are very much looking forward to getting on the ground and drilling this exciting project, and we are confident that it could quite quickly emerge as a company-maker for Liontown.”  

Liontown chairman Tim Goyder said this in November 2016, a few weeks before the $17 million market cap explorer got its hands on the Kathleen Valley project.

He was probably right – Kathleen Valley is shaping up as a company maker.

In 2019,  Liontown continues to find thick zones of high-grade lithium outside the current resource of 21.2Mt @ 1.4 per cent Li2O. In fact, it’s had to increase the exploration target twice in recent times.

If this 19 – 31Mt exploration target is successfully converted to resources, it would make Kathleen Valley one of the largest, highest grade spodumene projects in the Western world.

MRE = Mineral Resource Estimate, ET = Exploration Target. You’re welcome.

The stock is now up over 420 per cent in the past two months, and currently boasts a $168 million market cap.

There’s a lot of work to do before Liontown becomes a miner, but Goyder — who owns about 18 per cent of the company — would have to be pretty happy with how things are going so far.

OTHER TOP 50 HIGHLIGHTS

The Galilee Basin is a 247,000 sq km thermal coal basin in central Queensland. It’s one of the largest untapped coal reserves on the planet.

There’s a number of advanced Galilee Basin projects in the works, but no major transport links to port makes them uneconomic to develop.

Here are the big ones:

Pic: GalileeBasin.Org

But then two things happened.

First, the coal-friendly Federal Coalition government was re-elected; and in Queensland, there’s little doubt Labor’s anti-coal agenda had something to with it.

Soon after, the Queensland government decided to fast-track the approval process for Adani’s $2 billion Carmichael mine, which includes a new rail line from Northern Galilee Basin to the Port of Abbott Point (see above).

If approved, Adani’s investment in pit-to-port infrastructure could improve the business case for other projects in the region – including those belonging to small caps East Energy Resources (ASX:EER) and  AusChina Holdings (ASX:AUH).

East Energy and AustChina were up 250 per cent and 50 per cent for the month, respectively, as investors bet that their previously stranded assets in the Galilee Basin would be given new life.

 

Similarly, it was speculation that China could ban rare earths exports to the US that saw investors flock to ASX-listed players last month.

Greenland Minerals & Energy (ASX:GGG) led the charge with its share price climbing nearly 80 per cent to around 13c, followed closely by Arafura Resources (ASX:ARU) and Alkane Resources (ASX:ALK).

Alkane managing director Nic Earner reckons this news could be the “big shot in the arm” the industry needs.

Here are the top 50 mining small caps for the month of May:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop

TickerNamePrice April 30Price May 311 Month Price Change % Market Cap
LTR LIONTOWN RESOURCES 0.0270.110307 $168,122,368.00
EER EAST ENERGY RESOURCES 0.0020.007250 $22,406,910.00
CLA CELSIUS RESOURCES 0.0180.045150 $31,803,160.00
CAD CAENEUS MINERALS 0.0010.002100 $4,282,520.50
AKN AUKING MINING 0.0010.002100 $1,865,168.88
AVZ AVZ MINERALS 0.0400.07793 $143,841,504.00
HWK HAWKSTONE MINING 0.0130.02485 $16,567,632.00
AFR AFRICAN ENERGY RESOURCES0.0110.02082 $12,533,780.00
RFR RAFAELLA RESOURCES 0.0720.13081 $4,184,812.50
GGG GREENLAND MINERALS 0.0730.13078 $147,244,400.00
FEX FENIX RESOURCES 0.0590.10578 $23,977,500.00
ARU ARAFURA RESOURCES 0.0510.09076 $78,140,312.00
ADN ANDROMEDA METALS 0.0060.01075 $13,554,992.00
CTM CENTAURUS METALS 0.0050.00970 $21,639,858.00
LKE LAKE RESOURCES0.0480.08169 $20,388,544.00
MHC MANHATTAN CORP 0.0030.00567 $3,706,393.50
AL8 ALDERAN RESOURCES 0.0350.05866 $6,966,479.00
PXX POLARX 0.0570.09363 $30,330,710.00
COB COBALT BLUE0.1350.22062 $17,175,068.00
RES RESOURCE GENERATION 0.0940.15060 $87,207,048.00
FEL FE 0.0140.02257 $8,573,893.00
OAU ORA GOLD 0.0070.01157 $7,107,054.50
AUZ AUSTRALIAN MINES 0.0230.03657 $98,879,472.00
CML CHASE MINING0.0160.02556 $5,174,048.00
DEV DEVEX RESOURCES 0.0400.06255 $7,184,731.00
TGM THETA GOLD MINES 0.1050.16052 $61,022,740.00
AUH AUSTCHINA 0.0020.00350 $3,346,155.25
WKT WALKABOUT RESOURCES 0.2400.35548 $109,029,720.00
TON TRITON MINERALS 0.0440.06548 $48,211,172.00
ARX ARC EXPLORATION 0.1300.19046 $4,797,639.00
KRR KING RIVER RESOURCES 0.0220.03245 $40,875,072.00
DKM DUKETON MINING 0.1050.15043 $17,702,442.00
COY COPPERMOLY 0.0070.01043 $17,230,434.00
TIG TIGERS REALM COAL 0.0420.05940 $105,708,520.00
PEK PEAK RESOURCES 0.0400.05640 $44,758,328.00
CUX CROSSLAND STRATEGIC METALS0.0050.00740 $7,081,525.00
PEC PERPETUAL RESOURCES 0.0230.03239 $7,933,452.50
BKT BLACK ROCK MINING 0.0720.10039 $61,482,840.00
FGR FIRST GRAPHENE 0.1800.25039 $107,243,552.00
NWM NORWEST MINERALS 0.1800.25039 $15,720,000.00
ALK ALKANE RESOURCES 0.2400.33038 $156,889,824.00
JRL JINDALEE RESOURCES 0.2400.33038 $11,548,276.00
GAL GALILEO MINING 0.1250.17036 $20,463,568.00
S2R S2 RESOURCES 0.0850.11535 $28,510,246.00
ORM ORION METALS 0.0060.00833 $3,824,779.50
VAR VARISCAN MINES 0.0020.00233 $2,542,147.25
PWN PARKWAY MINERALS0.0030.00433 $2,433,307.75
MTB MOUNT BURGESS MINING0.0030.00433 $1,427,638.13
SPQ SUPERIOR RESOURCES 0.0060.00833 $4,816,306.00
SMI SANTANA MINERALS 0.0030.00433 $2,700,798.00