Big Drill Hits

Big Drill Hits: The best lithium, gold and uranium hits in May

Fri 02 Jun 23, 11:35am (AEST)
Mining exploration drill rig 3
Source: iStock

Key Points

  • Patriot Battery Metals and Leo Lithium top the lithium leaderboards for a second consecutive month
  • Catalyst Metals hits a bonanza. Will investors run with it or use the catalyst as exit liquidity?

Welcome back to Weekly Big Drill Hits – A curated list of the most intriguing intersections made by ASX-listed explorers.

We've compiled all the drill results for this month. It's pretty stacked so we'll mostly let the tables do the talking.


Lithium hits
Date Range: 1 May to 2 June

There's a lot of nice things to be said about Patriot Battery Metals and Leo Lithium.

  • Among the best performing lithium stocks last month, up 21% and 69.5% respectively

  • Also topped April's drill hit leaderboards

  • Are among few ASX-listed lithium stocks within 5-10% away from all-time highs


Gold hits
Date Range: 1 May to 2 June

Exploration and share price momentum has been key for gold explorers. A big drill hit often fails to materialise into any meaningful share price upside when:

  • The stock stock has been spiraling lower for the past couple of months

  • The company reports a big hit followed by months of little or incremental newsflow

Catalyst Metals was down as much as 43% year-to-date. A solid exploration announcement on 1 June triggered what's so far been a two day rally where the stock has gained 22.4%. Is the drill hit something investors can work with? Or will investors use the recent gains as an opportunity to exit?


Copper hits
Date Range: 1 May to 2 June

Carnaby Resources falls into the example above. The stock has its moments but has largely gone nowhere for two and a half years.


Uranium hits
Date Range: 1 May to 2 June


Nickel hits
Date Range: 1 May to 2 June


Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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