ASX resource stocks see gains as PLS Group and Ora Banda Mining rise

Australian resource stocks experienced significant gains on Monday, led by PLS Group Ltd and Ora Banda Mining Ltd.

Shares of PLS Group, Australia’s largest independent lithium producer, rose more than 7% to A$2.815. The rebound follows a period of decline driven by falling global lithium prices, including a sharp drop in lithium carbonate futures in China. Despite the stock's recent volatility and a downward trend in spodumene concentrate prices, the company's market value rose to approximately A$9.1 billion during the session.

Ora Banda Mining Ltd shares also climbed over 7% following the release of its quarterly report. The company reported gold production of 33,305 ounces with an all-in sustaining cost of $4,214 per ounce. While production was lower than some analyst forecasts, brokers from Macquarie and UBS maintained bullish outlooks, suggesting the shares may have been oversold. The company is currently progressing with several development projects, including a new processing plant and mining development at the Waihi underground operation.