Top 5 Australian Mining Stocks This Week: Accent Resources Spikes 4,275 Percent

Market and commodities price round-up

The S&P/ASX 200 (INDEXASX:XJO) opened at 9,249.6 on Monday (August 10) and closed at 9,188.5 on Thursday (August 13), reflecting a 0.66 percent decrease over the period.

Gold and silver were both slightly up this week as of the close of Australian stock markets Thursday. The gold price increased 0.13 percent in US dollars, from US$4,343.24 on Monday to US$4,349.18 Thursday. Meanwhile, a 0.27 percent increase was seen in Australian dollars, with gold moving from AU$6,143.25 to AU$6,159.56.

Silver prices similarly ended the period in the positive, rising 1.11 percent in US dollars from US$63.70 to US$64.41. In Australian dollars, the metal increased 1.27 percent from AU$90.05 to AU$91.19.

Top ASX mining stocks this week

How did ASX mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Australian mining stocks below as the Investing News Network breaks down their operations and why these companies are up this week.

Stocks data for this article was retrieved using TradingView's stock screener and reflects price movements between the first trading day of the week and Thursday. Only companies trading on the ASX with market capitalisations greater than AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Accent Resources (ASX:ACS)

Weekly gain: 4,275 percent
Market cap: AU$97.91 million
Share price: AU$0.525

Accent Resources is an exploration company focused on advancing its Magnetite Range iron project.

The property is located in Western Australia in a region with planned renewable energy projects and a green steel processing facility, and adjacent to the Great Northern Highway.

A February 2024 mineral resource estimate reported a combined measured, indicated and inferred resource of 523.3 million tonnes of ore with a total head assay of 31.3 percent iron, 46.9 percent silicon dioxide, 1.9 percent aluminum oxide and 0.4 percent sulfur.

The company has narrowed its focus recently, announcing the sale of its non-core Norseman gold project in July alongside leadership changes as it progresses the Magnetite Range project towards a prefeasibility study.

Accent released positive news from magnetic separation test work on Monday. In that news release, the company announced that dry magnetic separation tests had rejected 46 percent of mass up to 3 millimeters, while maintaining an iron recovery rate of 97 percent. The test work will contribute to the completion of a prefeasibility study for the project.

After ending last week at AU$0.012, shares of Accent rocketed upwards this week. The steep gains prompted the ASX to issue trading halts and price queries on Tuesday (August 11), when shares had reached AU$0.10, and on Thursday, when they had soared to an intra-day high of AU$0.64.

In both cases, the company said it was unaware of any unreleased information that would have caused shares to surge as much as they had, and highlighted Monday’s test work results as a potential source of the momentum.

2. Arrow Minerals (ASX:AMD)

Weekly gain: 60 percent
Market cap: AU$13.45 million
Share price: AU$0.008

Arrow Minerals is a polymetallic exploration company working to advance a trio of projects in Western Australia and Guinea.

Its Yarraloola copper project is located in the West Pilbara region of Western Australia. Mineralization at the site was first identified in 1907, and the site hosts historic copper mine operations.

Arrow announced on June 24 that it had completed the acquisition of an 80 percent stake in the project following the closing of a second tranche of a private placement that raised AU$1.73 million. Under the terms of the deal, Arrow paid AU$50,000 in cash and issued 125 million shares.

The most recent news from the project came on Tuesday, when Arrow announced it had located seven historic drill cores that were drilled 50 years earlier. Three contain mineralised intercepts, with one featuring a 32.7 metre intercept grading 0.7 percent copper, 0.3 percent lead, 16.3 grams per tonne (g/t) silver and 0.4 percent zinc, from a depth of 54 metres.

The company is planning a reverse circulation drill program, which it will start after analysing the historical drill core and completing geophysical surveys.

Arrow also owns the Simandou North iron project in Guinea, an early-stage project that lies on the northern end of the Simandou iron belt.

Its third asset is the Niagara bauxite project, also located in Guinea. The project lies near the Simandou railway line, the development of which was led by Rio Tinto to service its iron projects in the region. Niagara's maiden mineral resource, published in March 2025, reported a total resource of 185 million tonnes of ore grading an average of 42.3 percent aluminum oxide and 2.7 percent silicon dioxide.

On July 17, the company announced it had been awarded a new three-year exploration permit for the project, with renewal rights for two two-year terms. Under the terms of the permit, Arrow must commit US$1.51 million in exploration expenditures over the three years, with work to begin within six months.

Then, on Wednesday (August 12), Arrow provided an update on the project's status, rounding up progress on the site, including its commencement of a scoping study evaluating the potential of a bauxite export operation with capacity of 3 million to 4 million tonnes per year.

Additionally, Arrow shared that teams will be mobilising in the coming weeks to perform environmental studies and bulk sampling.

3. King River Resources (ASX:KRR)

Weekly gain: 58.33 percent
Market cap: AU$137.16 million
Share price: AU$0.095

West Perth-based King River Resources is an Australian exploration and development company primarily focused on gold and copper assets. Its portfolio includes the Mount Remarkable gold project in Western Australia’s Kimberley region and the Tennant Creek gold-copper project in the Northern Territory.

The company recently focused its operational attention on the Murchison province of Western Australia following its strategic acquisition of the historic Mindoolah gold project in March.

On Monday, a large surge in trading volume led the ASX to issue a price query. King River responded, stating it was unaware of any material information not previously announced to the market that may have caused the price and volume changes.

The following day, the company reported that high-resolution drone magnetics had identified multiple high-priority gold targets at Mindoolah occurring outside historic mine workings and along unrecognized corridors. King River said it was planning follow-up exploration of the targets, including RC drilling that will begin in September or October.

The high trading volume continued through the week, and its shares hit a weekly high close of AU$0.095 Thursday.

4. Australian Mines (ASX:AUZ)

Weekly gain: 58.33 percent
Market cap: AU$81.99 million
Share price: AU$0.038

Australian Mines is an explorer with projects in Queensland and New South Wales, Australia, and in Brazil.

Its Sconi nickel-cobalt project in Queensland is being developed to deliver carbon-neutral feedstock for electric vehicle battery production. An updated feasibility study released in June 2019 demonstrated a post-tax net present value of AU$817 million, an internal rate of return of 15 percent and a payback period of 5.8 years.

The company originally targeted 2028 for the start of production at Sconi. However, it noted in its July 28 quarterly update that, due to the low nickel price environment, the project has largely been halted but remains in good standing.

In the meantime, Australian Mines has shifted its focus to other projects in its portfolio, including its Flemington scandium-nickel-cobalt project in New South Wales.

The most recent update from Flemington came on July 27, when the company announced that a pre-feasibility study (PFS) had been initiated and was being fast-tracked. The study will be assess the economic and technical potential of an expanded operation at 180 tonnes per annum of production, up from the previous 60 tonnes per annum evaluated in its April scoping study.

It was noted that the PFS will use economic assumptions from its scoping study, which indicated a post-tax net present value of US$860 million and an internal rate of return of 74 percent.

5. Lachlan Star (ASX:LSA)

Weekly gain: 55 percent
Market cap: AU$50.16 million
Share price: AU$0.155

Lachlan Star is an exploration company focused on its New Waverley gold project in Western Australia.

The property consists of two mining leases covering an area of 40 square kilometres within the Woolyeenyer formation. The site hosts historic open-cut workings at the Waverley and Trial pits, which were previously mined in 1988.

On Wednesday, Lachlan Star reported that it confirmed a high-grade gold discovery during follow-up drilling at the project, with one highlighted intercept returning a grade of 5.3 g/t gold over 16 metres from a depth of 44 metres, which included an intersection of 20 g/t over 4 metres from 52 metres downhole.

“These outstanding initial RC results provide strong validation for the geological model we have been developing at New Waverley and clearly show that we have a significant emerging high-grade gold discovery on our hands,” CEO Andrew Tyrrell said.