Big Drill Hits: The best lithium, gold and uranium hits in May
Patriot Battery Metals and Leo Lithium top the lithium leaderboards for a second consecutive month.
Source: iStock
Mentioned
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
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
Are among few ASX-listed lithium stocks within 5-10% away from all-time highs
Gold
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
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
Date Range: 1 May to 2 June
Nickel
Date Range: 1 May to 2 June
