Excitement has been running high among ASX lithium stocks lately, as market favourite Tesla flags updated plans to secure its global supply chain.
That’s resulted in plenty of name-dropping and optimism around possible deals.
But North Carolina-based Piedmont Lithium (ASX:PLL) has gone and put some actual runs on the board this morning, announcing a five-year sales agreement with the electric car giant.
Shares in the company — which had been in a halt since September 18 — jumped by more than 60 per cent after the announcement was released at 11:16am EST.
Elsewhere on markets, it was a steady if unspectacular start to the week as the ASX200 edged higher following Friday’s banking-led rally.
There were stronger gains among small caps, with the ASX Emerging Companies Index up by around 0.8 per cent into midday trade.
The Australian dollar has climbed (slightly) off the mat, after six straight losing sessions last week saw it almost fall below US70c for the first time since July.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Monday September 28:
Swipe or scroll to reveal the full table. Click headings to sort.
| TICKER | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| ENA | Ensurance Ltd | 0.032 | 78 | $ 10,277,212 |
| PLL | Piedmont Lithium | 0.247 | 65 | $ 173,300,000 |
| CLZ | Classic Min Ltd | 0.0015 | 50 | $ 13,042,052 |
| FYI | FYI Resources Ltd | 0.255 | 34 | $ 46,466,904 |
| EGR | Ecograf Limited | 0.2 | 33 | $ 54,598,015 |
| EMU | EMU NL | 0.041 | 32 | $ 9,238,169 |
| SCN | Scorpion Minerals | 0.105 | 31 | $ 16,721,429 |
| AEV | Avenira Limited | 0.026 | 30 | $ 17,257,056 |
| UNL | United Networks Ltd | 0.06 | 28 | $ 18,441,831 |
| CXU | Cauldron Energy Ltd | 0.048 | 26 | $ 14,945,014 |
| BOT | Botanix Pharma Ltd | 0.094 | 25 | $ 72,952,353 |
| MRQ | Mrg Metals Limited | 0.011 | 22 | $ 12,149,565 |
| ICU | Isentric Ltd. | 0.145 | 21 | $ 35,812,368 |
| MIO | Macarthur Minerals | 0.63 | 20 | $ 62,822,469 |
| CZN | Corazon Ltd | 0.003 | 20 | $ 8,133,398 |
| SHH | Shree Minerals Ltd | 0.012 | 20 | $ 7,592,369 |
| JXT | Jaxstaltd | 0.125 | 19 | $ 16,845,120 |
| HTG | Harvest Tech Grp Ltd | 0.325 | 18 | $ 128,805,667 |
| CIO | Connected Io Ltd | 0.027 | 17 | $ 5,702,713 |
| IVZ | Invictus Energy Ltd | 0.068 | 15 | $ 27,243,743 |
| RMX | Red Mount Min Ltd | 0.008 | 14 | $ 7,091,257 |
| DTS | Dragontail Systems | 0.12 | 14 | $ 29,969,297 |
PLL’s deal saw it top the list of big movers, among stocks which posted market-moving announcements in morning trade.
Shares in the company rose for seven straight sessions starting on September 10 — from 9c to 14.5c — before going into a trading halt on September 18 following an ASX price query.
After confirming the sales deal, PLL shares ripped higher to around 23c. The ASX announcements timeline also revealed negotiations with the ASX went something like this:
ASX: wtf.
PLL: Tesla.
ASX: oh ok.
The five-year term has an option for an additional five years for the sale of spodumene concentrate.
PLL didn’t provide an exact sales figure, but said it expects Tesla sales to comprise around 10-20 per cent of company revenues from its mine-to-hydroxide project.
LOSERS
Here are the best performing ASX small cap stocks at 12pm Monday September 28:
Swipe or scroll to reveal the full table. Click headings to sort.
| TICKER | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| ANW | Aus Tin Mining | 0.001 | -33 | $ 4,994,661 |
| CCE | Carnegie Cln Energy | 0.002 | -25 | $ 22,282,905 |
| MRD | Mount Ridley Mines | 0.002 | -20 | $ 6,706,985 |
| VPR | Volt Power Group | 0.002 | -20 | $ 22,923,834 |
| AZI | Alta Zinc Ltd | 0.005 | -17 | $ 21,664,195 |
| MLS | Metals Australia | 0.0025 | -17 | $ 10,945,058 |
| XTC | Xantippe Res Ltd | 0.0025 | -17 | $ 12,223,693 |
| RNX | Renegade Exploration | 0.006 | -14 | $ 4,988,386 |
| TPD | Talon Petroleum Ltd | 0.003 | -14 | $ 15,231,263 |
| CCG | Commschoice | 0.091 | -13 | $ 20,096,187 |
| NVX | Novonix Limited | 1.02 | -13 | $ 409,447,139 |
| ARE | Argonaut Resources | 0.007 | -13 | $ 15,733,518 |
| PSL | Paterson Resources | 0.0035 | -13 | $ 16,013,418 |
| RDN | Raiden Resources Ltd | 0.014 | -13 | $ 8,617,178 |
| LIN | Lindian Resources | 0.022 | -12 | $ 14,548,741 |
| CGB | Cann Global Limited | 0.004 | -11 | $ 16,049,620 |
| GGE | Grand Gulf Energy | 0.008 | -11 | $ 3,453,745 |
| SER | Strategic Energy | 0.068 | -11 | $ 12,160,016 |
| IVX | Invion Ltd | 0.009 | -10 | $ 55,035,989 |
| RBR | RBR Group Ltd | 0.009 | -10 | $ 10,007,301 |