These ASX resource stocks ended the week on notable highs.
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The market has come to a close for the week and all (or at least most) seems well. That’s especially true in the camps of these ASX mining shares.
Despite a spot of trouble through the week, the All Ordinaries Index (ASX: XAO) finished it 1% higher than it started. It was a similar story for the S&P/ASX 200 Index (ASX: XJO), which recorded a gain of 0.9% over this week.
It was a better outcome for these ASX mining shares. They each recorded gains of up to 20% on Friday. Let’s take a look at what pushed them upwards.
3 ASX mining shares rocking the market on Friday
Chalice Mining Ltd (ASX: CHN)
First up is ASX 200 mining share, Chalice Mining. The mineral exploration company recorded a gain of 19.06% on Friday, closing the week at $6.81.
The company released good news about its Julimar Project today. The project is being explored for commodities including nickel, copper, platinum group elements, cobalt, and gold.
Excitingly, Chalice Mining today announced it has been granted approvals needed to start low-impact exploration drilling at the project’s Hartog-Dampier targets. The drilling will test for green metals in the area.
Nico Resources Ltd (ASX: NC1)
Next up is the Nico Resources share price. The ASX mining share surged 11.06% today to close the week at $1.16.
Interestingly, there’s been no news from the recently listed nickel explorer since late last month.
However, the price of nickel surged 8% on the London Metal Exchange overnight, rising to trade at around US$28,200 a tonne. That’s the highest it’s been since 10 May.
Resource Mining Corporation Limited (ASX: RMI)
The third ASX mining share recording a major gain on Friday is Resource Mining. It’s share price soared 19.57% to close at 11 cents.
Market watchers will be forgiven for not instantly recognising Resource Mining. The company is focused on nickel exploration in Tanzania and has a market capitalisation of around $36 million.
Thus, it could also have gained on the back of higher commodity prices. Though, today’s gains might also be related to a capital raise and debt repayment the company announced on Tuesday.
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Motley Fool contributor Brooke Cooper 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.