A most exciting day for ALL magnesium related stocks on the ASX:

KOR +177%;

LMG +60.6%;

MGL +50%;

LSA +30%;

JRL +9.4%.

There may be others that I'm unaware of, but personally my view is that KOR is best placed to get the big rerate (because it's tiny -still), and it's got the raw material close to infrastructure and supply that others will seek.

If you have an interest in Spec resource explorers the following may be of interest, but please do your research before wading into the stock! This commentary may be seen as a "ramp", but please just be aware that I hold shares in KOR, and I consider its share price to be highly volatile (that is ups AND downs) - and it has gone into a Trading Pause (possibly then into a Trading Halt!), caused by a huge run up in its share price this morning.

Why?

KOR holds title to a high grade magnesite (MgCO3) project 75 kms south of Darwin called Winchester.

According to KOR the Winchester resource has an estimated mineral resource of ca. 17 million tonnes of magnesite ~91% MgCO3 (equiv. 43.2% MgO).

The world is full of news surrounding shortages - of semi-conductors, oil/gas, etc etc, and now a realisation of a shortage in magnesium metal. Amongst other uses this metal goes into the production of vehicles as an alloy with Aluminium.

The primary supplier of magnesium worldwide is China (by a country mile!), then Russia, Brazil and Turkey. There are now likely to be severe disruptions by Chinese magnesium suppliers caused by power issues. This is likely to impact considerably on future supply to the extent that alternative sources of the primary feedstock (ie magnesite) outside of China will be highly sought.

Of course there are other deposits of high grade magnesite, both in Australia (especially around the large Kunwarara deposit north of Rockhampton), and elsewhere worldwide. But KOR's Winchester project is well placed, near to a good quality road, from Bachelor to Darwin.

KOR market cap as of yesterday was $9 million, and early trading this morning pushed the share price almost to double that before the Trading Pause.

I have no doubt the share price will fall back after any KOR announcement re why the share price has moved up, but in my view once it stabilises its a great opportunity to get into a small explorer with a mineral asset not valued by the market relative to the potential value. Thus for me its a VERY SPEC BUY!