- ASX lithium stocks few and far between in green today
- Cheer up, though, big Aussie stockbroking and wealth management firm Morgans spies a bottom… probably
- Asra up 20% at least on strong quarterly reporting form. CTN and GSM also travelling well
Our lithium roundup for Thursday, February 1.
Fun times to be writing this column, eh?
You probs don’t need a reminder that lithium “spot” pricing has tanked more than 85% over the past 12 months after rivers of white gold, rainbows, unicorns and outsized gains in 2021 to late 2022.
Consequently, bottom searching has become a favourite pastime for lithium heads and other interested parties.
And here’s an interested party – “Australia’s largest national full-service retail stockbroking and wealth management firm”, Morgans.
Amid the lithium rout, the broker yesterday nominated two lithium stocks it rates a buy right now: Pilbara Minerals (ASX:PLS), Mineral Resources (ASX:MIN).
And one, a cautious hold: Liontown Resources (ASX:LTR).
Okay, no shockers there, really.
Morgans notes that PLS “has the second best hard rock lithium mine in the world and a strong balance sheet” which positions it well to weather the current storm.
MinRes, meanwhile offers “attractive diversified lithium exposure”, says Morgans, with “strengthening contributions from iron ore and mining services” partly offsetting lower lithium earnings.
Liontown, Morgans says, “does hold attractive leverage in a lithium recovery scenario through Kathleen Valley”. But it remains cautious “given the funding hurdles the company is now working through”.
Overall, though – here’s the firm’s outlook we’ve jumped on for our bottoming-out headline.
While gloomy lithium forecasts have re-based near-term earnings expectations significantly lower, says Morgans, with further weakness a possibility, it views “the downcycle as largely played out, presenting some attractive opportunities”.
So you’re telling us there’s a chance…
Well, further to this, Morgans added:
“Ultimately the lower spot prices push, the more severe the resulting supply response will become. And as a further consequence, the stronger the future recovery will have to be once demand conditions recover in order to induce new supply from a heavily damaged lithium industry.
“Our base case is nowhere near that severe, instead we expect lithium prices are nearing a floor, with the current rapid decline likely to moderate this half.”
Meanwhile, as Eddy “Market Highlights” Sunarto informed us early doors today:
“Lithium stocks on the ASX are on watch today after BofA analyst, Michael Widmer, slashed his forecast for spodumene prices – by -63% in 2024 and -34% in 2025 – citing waning demand for electric vehicles.
There’s that at play, plus some hawkish tone from Fed boss Jerome Powell overnight, too.
Powell said while the Fed’s interest rate target is “likely at its peak for this tightening cycle”, “we are not declaring victory, we think we still have a way to go.”
“I don’t think it’s likely that the committee will reach a level of confidence by the time of the March meeting,” Powell added.
“If we get very strong inflation data, and it kicks back up then we’ll go slower or later.”
ASX lithium form guide:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at 3pm.)
Stocks missing from this list? Email [email protected] and [email protected]
CODE | COMPANY | TODAY | WEEK | 1 MONTH % | 12 MONTH % | PRICE | MARKET CAP |
---|
ADV | Ardiden Ltd | 0% | 9% | 0% | -49% | 0.175 | $10,940,564 |
AGY | Argosy Minerals Ltd | -3% | 7% | -28% | -85% | 0.097 | $140,440,750 |
1MC | Morella Corporation | -20% | 0% | -27% | -71% | 0.004 | $30,893,997 |
AML | Aeon Metals Ltd. | 0% | 0% | -18% | -70% | 0.009 | $9,867,606 |
ASN | Anson Resources Ltd | -2% | -14% | -41% | -73% | 0.082 | $108,002,090 |
AVZ | AVZ Minerals Ltd | 0% | 0% | 0% | 0% | 0.78 | $2,752,409,203 |
CXO | Core Lithium | 0% | 0% | -22% | -83% | 0.195 | $416,702,431 |
EMH | European Metals Hldg | 0% | 4% | -32% | -59% | 0.29 | $36,608,299 |
EUR | European Lithium Ltd | 0% | -1% | -19% | 6% | 0.085 | $118,510,330 |
GLN | Galan Lithium Ltd | -3% | -21% | -39% | -64% | 0.42 | $153,760,442 |
INF | Infinity Lithium | -10% | -13% | -23% | -43% | 0.077 | $39,782,920 |
INR | Ioneer Ltd | 0% | 9% | -20% | -72% | 0.12 | $253,369,458 |
JLL | Jindalee Lithium Ltd | -2% | -2% | -5% | -53% | 0.985 | $60,490,117 |
LIT | Lithium Australia | 0% | -7% | -10% | -44% | 0.027 | $32,999,175 |
LKE | Lake Resources | 1% | -1% | -28% | -89% | 0.093 | $130,998,229 |
LPD | Lepidico Ltd | -8% | -8% | -31% | -63% | 0.0055 | $45,829,848 |
LPI | Lithium Pwr Int Ltd | 0% | 0% | 1% | 28% | 0.5575 | $358,696,328 |
LTR | Liontown Resources | -3% | 6% | -40% | -37% | 0.995 | $2,494,644,298 |
MIN | Mineral Resources. | -2% | 6% | -16% | -34% | 58.87 | $11,701,426,359 |
MLS | Metals Australia | 0% | 0% | -14% | -37% | 0.032 | $19,969,158 |
AKE | Allkem Limited | 0% | -100% | -100% | -100% | 0 | $6,304,350,967 |
PLL | Piedmont Lithium Inc | 0% | -13% | -44% | -74% | 0.24 | $92,618,040 |
PLS | Pilbara Min Ltd | -2% | 0% | -12% | -27% | 3.465 | $10,683,611,205 |
QPM | Queensland Pacific | 0% | -3% | -33% | -66% | 0.037 | $74,463,992 |
PSC | Prospect Res Ltd | 1% | 2% | -6% | -27% | 0.084 | $38,456,553 |
RLC | Reedy Lagoon Corp. | 0% | 0% | 0% | -48% | 0.005 | $3,097,704 |
SYA | Sayona Mining Ltd | -4% | -13% | -46% | -85% | 0.0385 | $411,731,841 |
TKL | Traka Resources | 0% | 0% | -33% | -68% | 0.002 | $3,501,317 |
TON | Triton Min Ltd | 3% | 0% | -22% | -53% | 0.018 | $27,324,372 |
VUL | Vulcan Energy | -3% | -1% | -27% | -71% | 2.08 | $368,236,237 |
GL1 | Globallith | 2% | -9% | -57% | -77% | 0.515 | $131,433,976 |
BMM | Balkanminingandmin | -8% | -16% | -31% | -80% | 0.076 | $5,896,363 |
LEL | Lithenergy | -3% | -21% | -37% | -57% | 0.36 | $38,113,700 |
ARN | Aldoro Resources | 0% | 20% | -12% | -56% | 0.11 | $14,808,612 |
NMT | Neometals Ltd | -3% | -10% | -33% | -83% | 0.14 | $90,290,096 |
IGO | IGO Limited | -4% | -2% | -19% | -50% | 7.295 | $5,724,944,666 |
AAJ | Aruma Resources Ltd | 0% | 5% | -22% | -74% | 0.021 | $4,134,722 |
PAM | Pan Asia Metals | 0% | 0% | 28% | -58% | 0.16 | $26,850,684 |
AX8 | Accelerate Resources | -4% | -4% | -38% | -7% | 0.026 | $15,500,747 |
AM7 | Arcadia Minerals | -2% | -9% | -12% | -72% | 0.064 | $7,088,257 |
AS2 | Askarimetalslimited | -8% | -19% | -37% | -82% | 0.11 | $9,354,026 |
BYH | Bryah Resources Ltd | 0% | 0% | -8% | -49% | 0.012 | $5,203,287 |
EMS | Eastern Metals | 0% | -8% | -6% | -61% | 0.033 | $2,720,066 |
FG1 | Flynngold | -5% | -7% | 10% | -42% | 0.057 | $8,743,455 |
FRS | Forrestaniaresources | -4% | -17% | -11% | -84% | 0.025 | $4,206,429 |
GSM | Golden State Mining | 18% | 8% | -13% | -69% | 0.013 | $3,073,077 |
IMI | Infinitymining | -17% | -5% | -29% | -61% | 0.1 | $14,250,407 |
LRV | Larvottoresources | 0% | 9% | 1% | -57% | 0.071 | $15,876,427 |
MMC | Mitremining | 6% | 16% | -14% | -17% | 0.2325 | $12,471,278 |
RAG | Ragnar Metals Ltd | 0% | -4% | -8% | 65% | 0.022 | $10,427,581 |
CTN | Catalina Resources | 25% | 67% | 11% | -50% | 0.005 | $4,953,948 |
TMB | Tambourahmetals | -6% | -9% | -30% | -24% | 0.08 | $7,049,930 |
TEM | Tempest Minerals | 0% | 0% | -6% | -71% | 0.0075 | $3,893,433 |
EMC | Everest Metals Corp | 0% | -1% | -5% | -21% | 0.076 | $12,485,516 |
WCN | White Cliff Min Ltd | -6% | 0% | 67% | 15% | 0.015 | $21,373,749 |
WML | Woomera Mining Ltd | 0% | -17% | -83% | -71% | 0.005 | $6,090,695 |
AZL | Arizona Lithium Ltd | -2% | -11% | -34% | -71% | 0.0205 | $78,894,288 |
CRR | Critical Resources | -7% | -7% | -38% | -76% | 0.013 | $24,889,904 |
KGD | Kula Gold Limited | -33% | -50% | -60% | -79% | 0.006 | $3,808,907 |
LRS | Latin Resources Ltd | -6% | -9% | -44% | 45% | 0.16 | $475,363,554 |
PNN | Power Minerals Ltd | -3% | -15% | -31% | -72% | 0.145 | $13,106,415 |
WR1 | Winsome Resources | 2% | -5% | -46% | -76% | 0.565 | $105,885,703 |
KZR | Kalamazoo Resources | -1% | -5% | -23% | -57% | 0.093 | $16,263,675 |
MTM | MTM Critical Metals | -4% | -10% | 6% | -10% | 0.072 | $9,322,227 |
QXR | Qx Resources Limited | -6% | -6% | -30% | -67% | 0.016 | $18,871,324 |
SCN | Scorpion Minerals | 0% | -11% | -24% | -71% | 0.025 | $10,236,405 |
AZI | Altamin Limited | 0% | -9% | -9% | -34% | 0.05 | $21,406,097 |
ENT | Enterprise Metals | 0% | 0% | 0% | -60% | 0.004 | $3,207,884 |
KAI | Kairos Minerals Ltd | 12% | 21% | 4% | -24% | 0.0145 | $34,071,858 |
STM | Sunstone Metals Ltd | 0% | -17% | -33% | -74% | 0.01 | $34,877,349 |
PGD | Peregrine Gold | 5% | -2% | 31% | -39% | 0.315 | $20,098,944 |
AVW | Avira Resources Ltd | 0% | 0% | 0% | -20% | 0.002 | $4,267,580 |
NVA | Nova Minerals Ltd | 0% | -3% | -7% | -51% | 0.335 | $70,648,137 |
GT1 | Greentechnology | -6% | -9% | -49% | -84% | 0.145 | $49,174,075 |
BNR | Bulletin Res Ltd | -4% | -10% | -43% | -20% | 0.08 | $24,369,906 |
CAI | Calidus Resources | -5% | -5% | -14% | -33% | 0.185 | $119,438,030 |
MRR | Minrex Resources Ltd | 0% | 0% | -24% | -65% | 0.013 | $14,103,278 |
A8G | Australasian Metals | 0% | -20% | -41% | -47% | 0.1 | $5,212,049 |
EFE | Eastern Resources | -13% | -13% | -13% | -59% | 0.007 | $9,935,572 |
MQR | Marquee Resource Ltd | 0% | 10% | -15% | -37% | 0.022 | $9,094,456 |
SRZ | Stellar Resources | 0% | 0% | 0% | -50% | 0.007 | $8,043,185 |
LSR | Lodestar Minerals | -20% | -33% | -50% | -50% | 0.002 | $5,058,493 |
NWM | Norwest Minerals | 0% | -4% | -11% | -62% | 0.024 | $6,901,668 |
AOA | Ausmon Resorces | 0% | -17% | -17% | -64% | 0.0025 | $2,647,498 |
VKA | Viking Mines Ltd | -8% | -15% | -21% | 0% | 0.011 | $12,303,101 |
IPT | Impact Minerals | 0% | -8% | 9% | 20% | 0.012 | $34,376,447 |
SRI | Sipa Resources Ltd | 10% | 0% | -12% | -31% | 0.022 | $4,563,163 |
VMC | Venus Metals Cor Ltd | 5% | 7% | 5% | 17% | 0.105 | $18,972,868 |
RGL | Riversgold | 0% | 0% | -17% | -68% | 0.01 | $9,676,615 |
ZNC | Zenith Minerals Ltd | 0% | -18% | -10% | -45% | 0.135 | $47,571,419 |
RAS | Ragusa Minerals Ltd | 0% | 3% | -14% | -70% | 0.031 | $4,420,562 |
G88 | Golden Mile Res Ltd | -7% | -13% | -26% | -37% | 0.014 | $4,940,843 |
EPM | Eclipse Metals | 0% | 7% | 0% | -64% | 0.008 | $16,500,434 |
EVR | Ev Resources Ltd | 11% | 0% | -9% | -33% | 0.01 | $9,896,295 |
WC8 | Wildcat Resources | 5% | 2% | -40% | 1300% | 0.42 | $478,335,249 |
MNS | Magnis Energy Tech | 0% | 0% | 0% | -90% | 0.042 | $50,378,922 |
RIO | Rio Tinto Limited | -1% | 2% | -3% | 4% | 132.17 | $49,342,059,165 |
THR | Thor Energy PLC | 3% | 0% | 13% | -43% | 0.034 | $6,139,199 |
YAR | Yari Minerals Ltd | 0% | 0% | -13% | -44% | 0.01 | $4,823,578 |
MXR | Maximus Resources | 0% | 0% | 0% | -17% | 0.035 | $11,233,102 |
DRE | Dreadnought Resources Ltd | -2% | -15% | -32% | -81% | 0.0205 | $73,060,532 |
MM1 | Midasmineralsltd | 0% | -9% | -29% | -33% | 0.1 | $8,674,725 |
M2R | Miramar | -4% | -4% | 10% | -71% | 0.023 | $3,572,869 |
LLI | Loyal Lithium Ltd | -6% | -13% | -27% | -55% | 0.225 | $19,988,957 |
LRD | Lordresourceslimited | 0% | 0% | -6% | -69% | 0.059 | $2,190,795 |
WMC | Wiluna Mining Corp | 0% | 0% | 0% | 0% | 0.205 | $74,238,031 |
AUN | Aurumin | 0% | 11% | 15% | -51% | 0.03 | $10,753,292 |
ZEO | Zeotech Limited | 3% | -14% | -6% | -23% | 0.03 | $50,269,269 |
ALY | Alchemy Resource Ltd | 0% | -11% | -20% | -53% | 0.008 | $9,424,610 |
LIS | Lisenergylimited | 0% | -9% | -17% | -59% | 0.15 | $96,030,035 |
GW1 | Greenwing Resources | 6% | -3% | -30% | -68% | 0.095 | $15,682,633 |
KTA | Krakatoa Resources | 0% | 5% | -44% | -53% | 0.02 | $9,442,144 |
TYX | Tyranna Res Ltd | 7% | 0% | -12% | -32% | 0.015 | $46,023,955 |
DAF | Discovery Alaska Ltd | 0% | 0% | 42% | 0% | 0.027 | $6,324,337 |
FTL | Firetail Resources | 0% | -2% | -23% | -59% | 0.059 | $8,785,428 |
IR1 | Irismetals | -11% | 17% | -33% | -47% | 0.62 | $90,639,487 |
LNR | Lanthanein Resources | 8% | -7% | -43% | -69% | 0.0065 | $7,738,871 |
DAL | Dalaroometalsltd | 11% | -5% | -5% | -77% | 0.021 | $1,572,250 |
TKM | Trek Metals Ltd | 0% | -8% | -8% | -53% | 0.037 | $18,983,844 |
CY5 | Cygnus Metals Ltd | 0% | -12% | -49% | -86% | 0.069 | $20,117,581 |
TUL | Tulla Resources | 0% | -100% | -100% | -100% | 0 | $118,262,971 |
WES | Wesfarmers Limited | 0% | 1% | 2% | 17% | 57.96 | $65,975,092,145 |
LLL | Leolithiumlimited | 0% | 0% | 0% | -17% | 0.505 | $498,553,663 |
OCN | Oceanalithiumlimited | -2% | -19% | -48% | -83% | 0.062 | $3,406,820 |
A11 | Atlantic Lithium | 2% | 0% | -3% | -44% | 0.385 | $245,250,068 |
CMD | Cassius Mining Ltd | 0% | -6% | -18% | 32% | 0.033 | $16,586,148 |
VSR | Voltaic Strategic | 0% | 0% | -16% | -33% | 0.016 | $7,729,662 |
SGQ | St George Min Ltd | 4% | -14% | -26% | -67% | 0.025 | $23,724,970 |
LLO | Lion One Metals Ltd | 0% | -1% | -5% | -11% | 0.895 | $13,716,520 |
PAT | Patriot Lithium | -16% | -25% | -42% | -71% | 0.105 | $8,702,142 |
PL3 | Patagonia Lithium | 0% | 9% | -4% | 0% | 0.125 | $6,141,063 |
BUR | Burleyminerals | -7% | -27% | -41% | -64% | 0.098 | $10,846,159 |
CHR | Charger Metals | 0% | -14% | -27% | -66% | 0.12 | $9,290,430 |
RMX | Red Mount Min Ltd | 0% | 0% | 0% | -50% | 0.003 | $8,020,728 |
DLI | Delta Lithium | 5% | 4% | -38% | -37% | 0.29 | $195,750,402 |
LM1 | Leeuwin Metals Ltd | 0% | -20% | -29% | 0% | 0.1 | $4,685,167 |
ENT | Enterprise Metals | 0% | 0% | 0% | -60% | 0.004 | $3,207,884 |
FIN | FIN Resources Ltd | -6% | -6% | -23% | 6% | 0.017 | $11,686,837 |
DTM | Dart Mining NL | 0% | 0% | -18% | -74% | 0.014 | $3,186,115 |
NIS | Nickelsearch | -2% | 7% | -37% | -68% | 0.046 | $10,036,495 |
EG1 | Evergreenlithium | 0% | 4% | -37% | 0% | 0.12 | $6,747,600 |
MAN | Mandrake Res Ltd | 0% | 0% | -7% | -23% | 0.04 | $24,630,397 |
FBM | Future Battery | -2% | -15% | -30% | -19% | 0.051 | $27,755,311 |
LPM | Lithium Plus | -10% | -10% | -39% | -39% | 0.215 | $20,637,168 |
KOB | Kobaresourceslimited | 3% | 14% | 129% | -6% | 0.16 | $16,339,583 |
EMC | Everest Metals Corp | 0% | -1% | -5% | -21% | 0.076 | $12,485,516 |
LRD | Lordresourceslimited | 0% | 0% | -6% | -69% | 0.059 | $2,190,795 |
IEC | Intra Energy Corp | 0% | -17% | -17% | -64% | 0.0025 | $4,151,954 |
REC | Rechargemetals | -9% | -16% | -28% | -48% | 0.068 | $8,351,398 |
SLM | Solismineralsltd | 0% | -8% | -17% | 41% | 0.12 | $9,408,085 |
AZS | Azure Minerals | 0% | 0% | -1% | 1039% | 3.645 | $1,669,593,653 |
DYM | Dynamicmetalslimited | 0% | 7% | 7% | -23% | 0.15 | $5,400,000 |
TOR | Torque Met | -10% | -3% | -16% | 6% | 0.185 | $31,375,972 |
SBR | Sabre Resources | -4% | -4% | -24% | -44% | 0.025 | $9,730,810 |
ICL | Iceni Gold | -11% | -11% | -19% | -62% | 0.042 | $11,588,369 |
TMX | Terrain Minerals | 0% | 25% | 0% | -17% | 0.005 | $7,158,353 |
MHC | Manhattan Corp Ltd | 0% | -13% | -13% | -50% | 0.0035 | $10,279,429 |
MHK | Metalhawk. | -10% | -5% | -33% | -44% | 0.09 | $9,941,445 |
NKL | Nickelxltd | 7% | 44% | 24% | -39% | 0.046 | $3,776,052 |
TMB | Tambourahmetals | -6% | -9% | -30% | -24% | 0.08 | $7,049,930 |
ANX | Anax Metals Ltd | 10% | 15% | -23% | -68% | 0.023 | $10,153,870 |
PMT | Patriotbatterymetals | -8% | 0% | -34% | -54% | 0.7375 | $403,200,128 |
BM8 | Battery Age Minerals | 0% | -9% | -18% | -69% | 0.155 | $14,222,849 |
L1M | Lightning Minerals | -6% | -11% | -39% | -58% | 0.085 | $3,800,256 |
ADG | Adelong Gold Limited | 0% | 0% | 0% | -55% | 0.005 | $3,498,278 |
TOR | Torque Met | -10% | -3% | -16% | 6% | 0.185 | $31,375,972 |
AL8 | Alderan Resource Ltd | 0% | -13% | -30% | -56% | 0.0035 | $3,874,015 |
OZM | Ozaurum Resources | -3% | -12% | -53% | -5% | 0.071 | $11,588,750 |
FL1 | First Lithium Ltd | 4% | 2% | -48% | 50% | 0.27 | $18,213,433 |
PLN | Pioneer Lithium | -9% | -6% | -20% | 0% | 0.16 | $4,974,375 |
WYX | Western Yilgarn NL | 0% | 1% | -11% | -15% | 0.089 | $4,419,518 |
RDN | Raiden Resources Ltd | -4% | 0% | -38% | 339% | 0.025 | $69,070,693 |
PFE | Panteraminerals | 0% | 18% | 12% | -57% | 0.058 | $7,692,108 |
GRE | Greentechmetals | -6% | -6% | -50% | 92% | 0.23 | $19,789,276 |
OLY | Olympio Metals Ltd | -12% | -22% | -43% | -64% | 0.06 | $4,324,766 |
SUM | Summitminerals | 4% | -20% | -25% | -45% | 0.074 | $3,383,656 |
JBY | James Bay Minerals | -5% | -13% | -44% | 0% | 0.175 | $6,002,325 |
SCN | Scorpion Minerals | 0% | -11% | -24% | -71% | 0.025 | $10,236,405 |
JNO | Juno | -6% | -11% | -23% | -18% | 0.085 | $16,375,073 |
CC9 | Chariot Corporation | -8% | 13% | -29% | 0% | 0.385 | $34,182,270 |
OBM | Ora Banda Mining Ltd | 0% | 2% | -8% | 153% | 0.22 | $375,489,371 |
RON | Roninresourcesltd | 0% | -10% | -24% | -13% | 0.14 | $5,155,501 |
CXB0 | ASRA MINERALS LTD. | 0% | 0% | -25% | -63% | 0.00003 | $4,909,487 |
ASR | Asra Minerals Ltd | 20% | 0% | -14% | -57% | 0.006 | $8,182,479 |
PFE | Panteraminerals | 0% | 18% | 12% | -57% | 0.058 | $7,692,108 |
TG6 | Tgmetalslimited | -2% | -2% | -36% | 123% | 0.245 | $13,521,542 |
HAW | Hawthorn Resources | 2% | -1% | 4% | -3% | 0.097 | $31,826,483 |
KM1 | Kalimetalslimited | 2% | -10% | 0% | 0% | 0.47 | $35,117,364 |
AEV | Avenira Limited | 9% | 9% | -8% | -29% | 0.012 | $23,887,287 |
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CHARGED 🔋
Catalina Resources (ASX:CTN) +25%
Asra Minerals (ASX:ASR) +20%
Golden State Mining (ASX:GSM) +18%
RUNNING LOW 🪫
Kula Gold (ASX:KGD) -33%
Lodestar Minerals (ASX:LSR) -20%
Morella Mining (ASX:1MC) -20%
X factoring
Some other lithium-related takes we’ve noticed around the traps today on Elon Musk’s social platform…
Meanwhile, that Lithium Price Bot chart looks like its well and truly flattening out at bottom…
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