Finance > Capital-markets

Battery mineral hopefuls boosted

Nickel, lithium and cobalt juniors led this week’s group of Australian-listed market risers, taking over from the dominance of Pilbara conglomerate hopefuls as the EV demand thematic continues apace.

Staff reporter

Finance > Capital-markets

Battery mineral hopefuls boosted

Nickel, lithium and cobalt juniors led this week’s group of Australian-listed market risers, taking over from the dominance of Pilbara conglomerate hopefuls as the EV demand thematic continues apace.

Staff reporter

Battery mineral hopefuls boosted

Explorer Pioneer Resources was among the top movers this week

All 10 market risers gained 50% or more in a milestone week on the Australian sharemarket with the benchmark S&P/ASX200 index reaching a fresh 10-year high today of 6049.4.

Top mover and nickel hopeful Resource Mining Corp (AU:RMI) had no concrete reason to offer the ASX when queried on its price jump from A2.7c on Monday to 7.2c intraday on Tuesday.

"RMI is unware [sic] of any explanation for the recent trading, other than a general market interest in entities that have battery mineral resources," it said.

The company is maintaining its interest in the Wowo Gap nickel project in Papua New Guinea.

Pioneer Resources (AU:PIO) shot up after last week announcing it had started a drilling programme at its Pioneer Dome lithium-caesium-tantalum project in Western Australia.

Meanwhile Archer Exploration (AU:AXE) was busy, announcing plans to raise up to $2.25 million, finding rock chip samples grading up to 0.94% cobalt in maiden exploration at its Yarcowie project and progressing its graphite mining lease application in South Australia.

But the Pilbara's conglomerate possibilities did continue to attract investors, with Elysium Resources (AU:EYM) rising as it completed due diligence of its proposed acquisition of Hardey Resources and its Pilbara projects.

Impact Minerals (AU:IPT) also gained in the wake of raising $2.5 million, primarily for "low impact ground work" at its new Pilbara conglomerate-prospective gold project, along with ongoing work at its gold-silver-base metals project in New South Wales.

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