Which are the 10 hottest ASX-listed multi-bagger resource stocks?

Summary

  • The prices of commodities have been surging in 2021, on the back of various factors like low inventories and high demand.
  • A strengthening US dollar after the recent US Federal Reserve meeting is reversing the surge in commodities.
  • Many ASX-listed resource space players have registered substantial gains in the year-to-date period.

Commodities including steel, cobalt, copper, nickel and crude oil have been rallying since the beginning of 2021 with their prices surging to levels not seen for years.

However, recent developments in the global market have resulted in a sell-off in commodities. The primary factor that impacted the commodity prices is a firming US dollar. Other factors that have exacerbated the situation include China’s move to curb the exorbitant commodity prices by releasing industrial metals from its national reserves.     

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Also Read: 10 ASX-listed resource shares that gained over 6x in just one year

Here, we look at 10 of the multi-bagger resource stocks on the ASX. The stock performance for each as on 6 July 2021, around AEST 11:30 AM, is given below.

Province Resources Limited  

Province Resources Limited (ASX:PRL) is an Australia-based multicommodity exploration company focused on copper, gold, nickel, cobalt, vanadium, and other mineral opportunities. The company has projects in Western Australia and Sweden.

PRL aims to capitalise on the growing demand for these commodities in the green energy space.

Sayona Mining Limited  

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Emerging lithium miner Sayona Mining Limited (ASX:SYA) is focused on advancing its projects in Western Australia and Quebec, Canada. The company holds a large tenement portfolio in Australia's Pilbara region.

In addition, the company has signed a bid with its strategic partner Piedmont Lithium Limited (ASX:PLL) to acquire a lithium mine in North America.

Venturex Resources Limited  

Venturex Resources Limited (ASX:VXR) is an ASX-listed base metal mining company focused on advancing its flagship Copper Zinc Sulphur Springs Project and the Whim Creek Joint Venture Project in Western Australia. The Sulphur Springs Project includes the Sulphur Springs and Kangaroo Caves deposits.

The company intends to create the next base metal mining region of Australia.

Good Read: Four ASX-listed resource stocks that are trading near their 52-week high

Renascor Resources Limited

Exploration and development company Renascor Resources Limited (ASX:RNU) holds an extensive portfolio in South Australia, including its flagship Siviour Graphite Project. The project holds one of the largest reserves of graphite in the world and is among the world’s lowest cost sources of battery anode material.

The company is focused on developing a vertically integrated, in-country battery anode material manufacturing operation.

Source: Copyright © 2021 Kalkine Media

Must Read: Which are the trending mid-cap stocks on the ASX?

Globe Metals & Mining Limited

Africa-focused resources player Globe Metals & Mining Limited (ASX:GBE) has its flagship Kanyika Niobium project in Malawi.

The project is expected to produce niobium and tantalum products used as key additives in the manufacturing of high-strength alloy steel and electronics. Growth in demand for steel as well as higher quality steel products is expected to boost niobium use.

Lefroy Exploration Limited

Lefroy Exploration Limited (ASX:LEX) is an Australia-based gold exploration company focused on discovering multi-million-ounce greenfield gold deposits at its flagship project in South Kalgoorlie.

Backed by its early-stage exploration activities, the company has achieved exciting results in the project area.

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Red Hill Iron Limited

ASX-listed exploration company Red Hill Iron Limited (ASX:RHI) is focused on iron ore, gold, and other base metals in Western Australia’s Pilbara region.

The company’s primary assets include Red Hill Iron Ore Joint Venture (RHIOJV) and wholly-owned Pannawonica channel iron project.

Odyssey Gold Limited

Source: Copyright © 2021 Kalkine Media

Exploration company Odyssey Gold Limited (ASX:ODY) has high-grade gold projects in Murchison Goldfields, Western Australia. The Tuckanarra and Stakewell projects in the region have several strong drill targets based on previous shallow mining and drilling.

The company uses modern exploration techniques and deeper drilling to target mineralisation on known deposits. ODY is targeting a mix of near-mine and brownfields targets at both the projects.

Good Read: Top 10 ASX-listed dividend stocks for July

Vulcan Energy Resources Limited

Vulcan Energy Resources Limited (ASX:VUL) is an Australia-based lithium player, aiming to decarbonise the transition to electric mobility.

The company is focused on developing the world's first, premium, battery-quality lithium chemicals with zero carbon footprint. The project sits within the upper Rhine Valley of Germany.

Chalice Mining Limited

Chalice Mining Limited (ASX:CHN) is an ASX-listed precious and base metal focused company. Its portfolio includes various nickel, copper, platinum group metals, cobalt and gold projects in the Australian terrains of Avon Region, Victoria, and west Kimberley.  

Commodities including steel, cobalt, copper, nickel and crude oil have been rallying since the beginning of 2021 with their prices surging to levels not seen for years.

However, recent developments in the global market have resulted in a sell-off in commodities. The primary factor that impacted the commodity prices is a firming US dollar. Other factors that have exacerbated the situation include China’s move to curb the exorbitant commodity prices by releasing industrial metals from its national reserves.     

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