Take a look at any market index from around the world over the past year and you’re likely to see a similar trend: volatility, and share prices lower now than they were 12 months ago.
It’s been a bumpy ride for investors and companies alike, but as always, there are success stories to be found, and the ASX had plenty.
The breakdown
Of the 100 best-performing companies across the 2022 financial year, 97 of them more than doubled their share price.
The vast majority – 83 – were resources companies, with software, biotech and medical tech companies making the bulk of the rest.
The top 39 companies all at least tripled their share price over the course of the year, while the top 21 all managed to increase their share price fourfold or more.
The best five
Viagold Rare Earth Resources Ltd had a stellar FY22, watching its shares jump a mammoth 2,339% over the course of the year, from lows of just 4c to $2.
Remarkably, the company has had very little in the way of newsflow in that time, although rare earth minerals are generating significant interest as a key ingredient of the energy transition, and Viagold has a strong connection to China, considered the global giant in rare earths.
Resource Mining Corporation was the second-best performer in FY22, up an impressive 733% to 13c at the end of July, though it has hit peaks of 19c.
The company is exploring the Kabulwanyele Nickel Project in Tanzania, and in May announced a “transformational” acquisition of several promising Nickel projects in the country.
As for Kabulwanyele, a month ago RMI intersected a lateritic nickel profile in its maiden drilling campaign. Assay results are imminent, and previous rock and soil sampling returned highly encouraging nickel and cobalt results and delineated a nickel-cobalt anomaly with a strike length of 2 kilometres, which is broadly coincident with a historically mapped nickel laterite.
All samples collected returned grades equal to, or exceeding, 500 parts per million (ppm) nickel and 200 ppm cobalt, with grades of up to 1.27% nickel tested in a rock sample, and up to 0.85% nickel in soils.
Quantum Graphite Ltd had a belter of a year, rising 723% to highs of 52%, gaining significant momentum in May as its shares were requoted on the local bourse amid renewed interest in graphite as a material of the future.
Cardno (ASX:CDD) Ltd, an engineering and environmental services firm, was the only non-resources company in the top five, jumping 669%, and Santana Minerals (ASX:SMI) Ltd rounded out the top five with a 663% increase.
Metals of the future
Looking through the top 100 list, it’s clear to see the rising interest in metals, minerals and materials that are being heavily used in the global energy transition.
Take Latrobe Magnesium Ltd, for example – its shares have jumped 383% as it develops a 1,000 tonne-per annum plant to produce magnesium from the waste products of coal-fired power plants using a proprietary hydromet technology.
It has kicked a number of significant goals towards that aim of late; sealing a financing deal for a demonstration plant, commencing construction, and the tender of the pre-feasibility study for the plant to global engineering, construction and project management company, Bechtel.
Galileo Mining Ltd (ASX:GAL), exploring for nickel, palladium, copper, and cobalt resources in Western Australia, had an excellent 12 months, with its shares up 261%.
Its Norseman project is generating significant interest – the company returned its best-ever drill results from the project just a month ago.
“The latest assays from our Callisto discovery demonstrate the extensive continuity of mineralisation intercepted,” Galileo Mining managing director Brad Underwood said.
“We are very pleased to report significant thicknesses over 20 metres at the 1.0 g/t 3E cut-off grade and over 30 metres at the lower 0.5 g/t 3E cut-off.”
Loving lithium
Core Lithium Ltd (ASX:CXO), one of several booming Australian lithium miners, gained 320% over the past year, with the company on the precipice of becoming our next major lithium producer.
Just this month it received exceptional drilling results at its flagship Finniss Lithium project in the Northern Territory. Its chairman Greg English described the results as “outstanding”.
“We are in the middle of our largest ever drill campaign and these latest results more than justify our decision to expand our exploration efforts.
“These new world-class lithium drilling results reflect the confidence we have in delivering significant resource growth from Finniss that will add to our life of mine and our capacity to materially increase lithium production from northern Australia in the future to keep up with rapidly growing global demand.”
Fellow lithium players AVZ Minerals Ltd (ASX:AVZ) (up 321%), European Lithium Ltd (ASX:EUR, OTCQB:EULIF) (up 150%) and Lithium Power Ltd (up 98%) also delivered excellent returns for their shareholders.
And a mention for the health sector
Though the top 100 is dominated by resources companies, biotech and medical research companies still made their presence felt.
Neuren Pharmaceuticals Ltd (ASX:NEU) gained 251%, having made plenty of progress in clinical testing for its two drugs in development for multiple serious neurological disorders that emerge in early childhood.
Anteris Technologies Ltd (ASX:AVR, OTC:AMEUF) also more than tripled its share price, having cemented its position as a serious player in the heart valve replacement market with in-vivo demonstration of its ComASUR™ Transfemoral Delivery System, and recent trial results showing improvement in blood flow and quality-of-life markers.
“We continue to be excited about the superior haemodynamic performance of the DurAVR™ system despite small annuli and complex anatomy,” said Anteris chief medical officer Dr Chris Meduri.
“Its remarkable flow characteristics are as close to a normal human aortic valve as we have seen, a testament to the unique 3D tissue design.”
“The data so far is extremely encouraging and fulfilling the hypothesis that DurAVR™ works better and lasts longer,” CEO Wayne Paterson added.
The top 100
Written by Daniel Paproth.