3 ASX mining shares exploding over 20% on Monday

We take a look at why these three explorers are soaring higher today.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points
  • These three ASX explorers have had a top run on Monday 
  • One of these companies is exploring rare earth elements 
  • The S&P/ASX 200 Materials Index is climbing 0.52% today 

The S&P/ASX 200 Materials Index (ASX: XMJ) is 0.52% in the green today, but these three ASX mining shares are charging higher.

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.

Female miner standing smiling in a mine.

Image source: Getty Images

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.

Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Kingsgate, Neuren, Newcrest, and Pushpay shares are rising today

These ASX shares are avoiding the market selloff on Tuesday.

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Neuren, Northern Star, Race Oncology, and Westgold shares are storming higher

These ASX shares are starting the week in a positive fashion.

Read more »

A woman wearing yellow smiles and drinks coffee while on laptop.
Share Gainers

Why APM, Macquarie Telecom, Northern Star, and Origin shares are rising today

These ASX shares are having a strong session despite the market selloff.

Read more »

Two boys with cardboard rockets strapped to their backs, indicating two ASX companies with rocketing share prices
Share Gainers

Catch these fast-rising 2 ASX shares before it's too late: Celeste

This pair of stocks rocketed up in February during reporting season, but are still great value for those willing to…

Read more »

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.
Share Gainers

Why Arafura, Myer, Volpara, and Xero shares are zooming higher

These ASX shares are making their shareholders smile on Thursday.

Read more »

medical asx share price represented by doctor giving thumbs up
Healthcare Shares

Guess which ASX biotech stock just rocketed 29% on big FDA news

The ASX healthcare share is attracting investor interest following FDA approval for its targeted cancer therapy compound.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Mesoblast, PolyNovo, Pushpay, and Weebit Nano shares are charging higher

These ASX shares are having a strong session despite the market selloff.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why InvoCare, Pentanet, Sayona Mining, and Weebit Nano shares are storming higher

These ASX shares are having a strong session on Tuesday.

Read more »