Stocks of the Hour: Coal & lithium stocks, ABX Group
Coal, one of our biggest commodity exports, has surged to record levels as a result of the energy crisis, with the price of Newcastle coal soaring to all-time highs as miners cash in amongst a deepening energy crisis in Europe. The price of thermal coal rose to a new high recently with Newcastle futures trading above $648 dollars a tonne, more than doubling since the start of 2022.
Australian coal producers continue to climb higher again today – with Whitehaven (ASX:WHC) Stanmore Resources (ASX:SMR) , Yancoal (ASX:YAL) & Terracom (ASX:TER)
Lithium stocks are also back in focus today as demand for lithium continues to boom driven by rocketing growth in EV production, sending the price of the battery critical metal up more than 400% over the past year.
Pilbara Minerals (ASX:PLS) , Core Lithium (ASX:CXO) , Vulcan Resources (ASX:VUL), Sayona Mining (ASX:SYA), Lake Resources (ASX:LKE), are all higher this morning
ABX Group ( ASX:ABX) announced today that it has commenced its maiden REE resources estimation for Deep Leads and has received assays from most of its winter drilling campaign that expanded the lateral extent of REE mineralisation by 230%. These assays are enriched in the more valuable permanent magnet type of REE and includes true ionic adsorption clay zones that achieve 50% to 75% extraction rates, which are high by world standards. Shares are trading 8 per cent higher at 14 cents.
Copyright 2022 – Finance News Network
Source: Finance News Network
