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Highlights
- The S&P/ASX200 is trading with a gain of 1.41% today (21 June 2022).
- Resource Mining announced a placement to raise AU$1.2 million.
- TerraCom signed an offtake agreement with a company in Japan.
The S&P/ASX200 is trading in the green today (21 June 2022), with a gain of 90.90 points or 1.41% to 6,524.30. The index has lost 2.42% over the last five days and 9.83% over the last 52 weeks.
Amidst the chaos in ASX, some stocks are faring excellently, with lucrative returns. On that note, let us look at four stocks from ASX that have provided maximum price returns to investors on a YTD basis.
Related read: ASX 200 tumbles over 2.5% following Wall Street carnage
Data source: EODHD/Others as of 21 June 2022
Galileo Mining Ltd (ASX:GAL)
Galileo Mining explores and develops nickel, copper, and cobalt resources in Western Australia. Earlier this month, the company commenced RC drilling at its 100%-owned Callisto discovery within the Norseman project area in Western Australia. The results of the drilling with laboratory assays are anticipated around late July 2022.
Resource Mining Corporation Limited (ASX:RMI)
Resource Mining is a mineral resource company based in Australia. The company aims to generate wealth from mineral commodities by leveraging its technical, marketing, and financial skills.
Recently, the company announced a placement to raise AU$1.2 million through the issue of 10 million fully paid ordinary shares at AU$0.12 per share. The company intends to utilise proceeds from the placement for acquisitions, exploration activities and working capital requirements.
Pancontinental Energy NL (ASX:PCL)
Pancontinental Energy is an exploration company focused on oil and gas projects. It has major assets in Namibia and Australia and boasts a portfolio of offshore oil projects with large resource potential.
Last week (14 June), the company’s wholly owned subsidiary Pancontinental Orange Pty Ltd received a fully signed document for one year extension of the current Initial Exploration Period of offshore Namibian Petroleum Exploration Licence 87 (PEL 87). It will be now till 23 January 2023.
TerraCom Limited (ASX:TER)
TerraCom has a portfolio of coal exploration tenement in Australia and South Africa.
Recently, the company signed an offtake agreement with a Japanese company under which TerraCom will deliver about 1.25 million tonnes from its operation in Blair Athol during August 2022 to August 2023 period. Blair Athol is an acquisition of TerraCom (2017). It is expected that in FY22 ending 30 June, its operations will generate coal sales of nearly 2.3 million tonnes.
In the quarter ended 31 March 2022, TerraCom reported record operating Earnings Before Interest, Taxes, Depreciation & Amortisation (EBITDA) of AU$123 million.
Also read: AJQ, GGX & PCL - How these energy stocks have performed as oil prices cool off
