2 ASX stocks crossing their 52 w high to be watched
Terra Metals and Pacgold crossed their 52-week highs on Wednesday and investors should now closely watch their next moves as there are several catalysts ahead.
Terra Metals Limited (ASX: TM1)
on 27 January 2026 announced a significant high-grade platinum group metal discovery at the Southwest Prospect within its Dante Project in Western Australia.
The second round of assay results confirmed very high PGM grades, including up to 52.97 g/t PGE from near surface which management highlighted as very rare on a global basis for hard rock drill intersections.
Mineralisation has now been outlined across a large area of approximately 850 metres in strike and 450 metres in width and indicates the potential for multiple stacked mineralised horizons.
The high-grade mineralisation begins close to surface which may support a simpler and lower risk development pathway if further drilling confirms continuity.
The announcement generated strong market interest as the share price rose 66.67% on Tuesday and another 8.57% on Wednesday which reflects investor confidence in the scale and quality of the discovery.
Terra Metals has a current market capitalisation of $276.98 million, with upcoming assay results and follow up drilling expected to act as important near-term catalysts.
Pacgold Limited (ASX: PGO)
is now much closer to becoming a gold producer following its transformational acquisition of the White Dam Gold Operation in South Australia.
The White Dam asset has previously produced around 180,000 ounces of gold, with management targeting a staged restart using existing infrastructure and low capital requirements.
At the Alice River Gold Project in Queensland, drilling results were good with multiple high-grade intersections supporting the potential for Mineral Resource growth beyond the current maiden estimate of 474,000 ounces.
The company also broadened its growth pipeline through a farm in agreement at the St George Gold Antimony Project which adds exposure to another strategic commodity alongside gold.
A stronger balance sheet following a $13 million placement places Pacgold in a solid position to fund production restart activities and accelerate exploration across its portfolio.
Investor sentiment was clearly positive as the stock surged 6.45% on Wednesday and with a current market capitalisation of $66 million, the company offers strong leverage to exploration success and near-term gold production momentum.
(Source: Company Announcements)
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