3 ASX Mining Stocks to Keep Under Watch

The following ASX mining stocks have made sharp moves recently backed by positive announcements and hence investors need to keep a close eye on them.

Benz Mining Corp (ASX: BNZ)

Benz Mining Corp (ASX: BNZ) has surged almost 19% over the past one week after a series of positive announcements released on 28 January and 29 January which lifted investor confidence.

On 29 January 2026, the company announced a transformational $75 million bought deal placement at $2.32 per CDI, supported by high-quality offshore institutional investors which strengthened the balance sheet and lifted pro-forma cash to around $94 million.

This funding will allow Benz to rapidly scale exploration at its 100% owned Glenburgh Gold Project in Western Australia with a focus on resource growth, infill drilling and extensions at the Icon and Tuxedo prospects.

Earlier, on 28 January 2026, Benz reported exceptional drill results from the Icon trend which included ultra high-grade shallow intercepts such as 13 metres at 29.0 g/t gold and 9 metres at 28.0 g/t gold which highlights the high-quality of the mineralisation.

The results also confirmed large-scale bulk mineralisation with intersections such as 200 metres at 1.0 g/t gold which supports the potential for a long-life open-pit system at Glenburgh.

Jupiter Mines Limited (ASX: JMS)

Jupiter Mines Limited (ASX: JMS) rose 3.64% on Monday and reached its 52-week high as better manganese market conditions and steady operations supported investor sentiment.

The rally was driven by the Q2 FY2026 quarterly update on 30 January 2026 which reported higher sales and production from its core asset, the Tshipi manganese mine in South Africa and the stock is up 83.87% over the past 12 months.

During the December 2025 quarter, Tshipi sold 867,619 tonnes of manganese ore which was 4% higher quarter-on-quarter and 27% higher year-on-year, while the stock continues to attract income focused investors with a current annual dividend yield of 5.26%.

With a market capitalisation of $560.27 million and a P/E ratio of 14.25, JMS looks reasonably valued relative to its earnings profile, supported by higher manganese prices and disciplined cost control in the near term.

Boab Metals Limited (ASX: BML)

Boab Metals Limited (ASX: BML) surged 12.90% on Monday with the help of rise in commodity prices and increased confidence around its move towards production which pushed its market capitalisation to about $302.33 million.

The share price move followed the December 2025 quarterly update released on 28 January 2026 where the company confirmed a Final Investment Decision on the Sorby Hills Silver-Lead-Zinc Project in Western Australia.

During the quarter, Boab secured more than $350 million in funding made up of $236 million in project debt and over $117 million in equity which fully funds Sorby Hills through to first production.

The company also completed the acquisition of the remaining 25% interest in Sorby Hills on 27 January 2026 which lifted ownership to 100% and increased exposure to silver and lead prices.

Early works have already started on site such as access roads, plant pads and camp infrastructure with construction slightly ahead of schedule while first lead-silver concentrate is expected in the second half of 2027.

(Source: Company Reports)