Eye on Lithium: Labor’s EV targets slammed, and yet ‘tenfold increase’ in sales; PR1 leads ASX gainers

Pic via Getty Images

Labor’s electric vehicle strategy/forecast is copping a bit of a beating from the critics today
And yet… EV sales appear to have surged ‘tenfold’
Meanwhile, Pure Resources, Chariot and Eclipse lead the lithium gainers on the ASX

Lithium roundup, Tuesday November 21.

What with the success of lithium stocks so completely tied to the future of electric vehicles, first up today, some focus on local EV governmental strategy chattering…

Australia’s Climate Change and Energy Minister Chris Bowen’s electric vehicle strategy has come under fire today, with critics suggesting it’s well on track to fail after after government department officials predicted fewer than a third of new car sales would be electrified by 2030.

Per a report in The Australian today:

‘The latest estimates from the federal transport department are that electric cars will make up 27 per cent of new car sales by 2030, well below the 89 per cent forecast in Labor’s pre-election modelling that helped boost its 43 per cent emissions reduction target.

‘The 89 per cent prediction in Labor’s modelling conducted by RepuTex was based on Anthony Albanese’s pre-election policies that have been implemented since the government was elected, including exempting electric cars from import tariffs and fringe benefit taxes.’

Meanwhile, Sky News host Caleb Bond chimed in, describing the government’s strategy as “running on empty”.

However… this criticism comes amid Electric Vehicle Council Chief Executive Behyad Jafari reportedly revealing that there has been a “tenfold increase” in EV sales in Australia.

“The government is certainly right to be ambitious in this space,” Jafari told Sky News Australia.

“We have just as of this month we have seen that in 2023 electric vehicles are 10 times higher than they were in all of 2021.

“That’s certainly much higher than projections were at the time and I think the government has been able to see that.”

Jafari has also urged Labor to release its plans for fuel efficiency standards as soon as possible.

“The government has been doing the work in developing the fuel efficiency standards by the end of the year but its mid-November and we haven’t seen the standards yet,” said Jafari.

“These have to be in palace and while the government is developing them it is looking like a wasted year. Every country in the developed world except for Australia and Russia has these standard.”

What’s surging right now in ASX lithium land?

(Circa 3pm-ish on a Tuesday afternoon…)

Charged up

Pure Resources (ASX:PR1) +50%

Chariot Corporation (ASX:CC9) +21%

Eclipse Metals (ASX:EPM) +20%

Flynn Gold (ASX:FG1) +14%

Summit Minerals (ASX:SUM) +14%

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]

CODE	COMPANY	% WEEK	% MONTH	% YTD	PRICE	MARKET CAP
TG6	Tgmetals	28%	860%	726%	0.95	$41,104,160
KGD	Kula Gold	28%	185%	48%	0.037	$16,774,631
NIS	Nickelsearch	40%	180%	-12%	0.14	$25,973,132
AZL	Arizona Lithium	-14%	177%	-33%	0.0415	$149,345,371
FL1	First Lithium	23%	165%	261%	0.65	$46,234,100
KTA	Krakatoa Resources	14%	158%	11%	0.049	$21,309,998
MHK	Metalhawk	-15%	129%	18%	0.195	$16,045,111
WML	Woomera Mining	-18%	119%	21%	0.023	$31,036,058
OBM	Ora Banda Mining	8%	86%	144%	0.205	$332,561,749
ZNC	Zenith Minerals	0%	74%	-38%	0.165	$58,142,846
AZS	Azure Minerals	-1%	64%	1676%	3.995	$1,830,131,504
OZM	Ozaurum Resources	-21%	60%	97%	0.13	$21,431,250
BNR	Bulletin Resources	-3%	57%	77%	0.165	$46,974,576
GRE	Greentechmetals	-19%	56%	289%	0.545	$37,568,533
CHR	Charger Metals	-26%	56%	-37%	0.28	$15,839,164
RDN	Raiden Resources	-26%	52%	953%	0.05	$142,117,641
RGL	Riversgold	30%	50%	-50%	0.015	$13,317,660
JBY	James Bay Minerals	0%	46%	0%	0.395	$12,978,000
WYX	Western Yilgarn	-15%	45%	-15%	0.11	$6,207,188
INF	Infinity Lithium	4%	45%	0%	0.12	$55,511,051
EFE	Eastern Resources	0%	43%	-66%	0.01	$13,661,411
RON	Roninresources	-2%	41%	24%	0.205	$6,839,619
RLC	Reedy Lagoon Corp.	17%	40%	-28%	0.007	$4,316,785
QXR	Qx Resources	7%	36%	-29%	0.03	$33,171,836
LRD	Lordresources	9%	35%	-50%	0.084	$3,119,098
RAS	Ragusa Minerals	-15%	35%	-60%	0.046	$6,274,347
KZR	Kalamazoo Resources	9%	34%	-40%	0.125	$21,421,184
IEC	Intra Energy Corp	0%	33%	-50%	0.004	$8,303,908
1MC	Morella Corporation	8%	30%	-46%	0.0065	$43,145,149
WC8	Wildcat Resources	7%	29%	3504%	0.865	$1,093,336,208
MRR	Minrex Resources	-18%	28%	-36%	0.0205	$22,782,218
ADVDB	Ardiden	2%	28%	-27%	0.22	$13,129,080
MXR	Maximus Resources	-2%	26%	20%	0.048	$16,030,288
FG1	Flynngold	14%	26%	-18%	0.082	$11,183,372
BMM	Balkanminingandmin	-14%	24%	-53%	0.155	$10,665,112
SUM	Summitminerals	-4%	24%	-21%	0.115	$5,480,570
AX8	Accelerate Resources	-21%	24%	83%	0.042	$21,712,101
LPM	Lithium Plus	-4%	22%	26%	0.465	$39,984,513
VKA	Viking Mines	0%	22%	10%	0.011	$12,303,101
MAN	Mandrake Res	8%	21%	3%	0.041	$26,477,677
THR	Thor Energy	7%	20%	-50%	0.03	$5,594,769
MQR	Marquee Resource	-9%	19%	-16%	0.031	$12,814,916
TOR	Torque Met	12%	19%	6%	0.19	$25,530,196
MTM	MTM Critical Metals	-4%	18%	-67%	0.026	$2,483,427
FIN	FIN Resources	-16%	18%	37%	0.026	$17,527,555
SBR	Sabre Resources	-15%	18%	3%	0.039	$15,001,928
KOB	Kobaresources	-1%	18%	-44%	0.079	$8,433,333
EUR	European Lithium	1%	17%	9%	0.081	$110,144,895
LNR	Lanthanein Resources	-13%	17%	-67%	0.007	$7,851,029
CY5	Cygnus Metals	-13%	17%	-63%	0.14	$42,232,575
CAI	Calidus Resources	0%	16%	-33%	0.18	$106,791,476
A11	Atlantic Lithium	-3%	16%	-17%	0.515	$318,365,663
L1M	Lightning Minerals	3%	15%	-6%	0.155	$6,122,634
TEM	Tempest Minerals	-11%	14%	-65%	0.008	$4,091,068
ASR	Asra Minerals	-33%	14%	-60%	0.008	$11,649,645
PAT	Patriot Lithium	-2%	14%	-25%	0.2	$14,388,598
SRI	Sipa Resources	19%	14%	-22%	0.025	$5,703,953
PGD	Peregrine Gold	14%	13%	-17%	0.32	$18,107,712
EMS	Eastern Metals	-13%	13%	-53%	0.035	$2,884,919
G88	Golden Mile Res	-5%	11%	3%	0.021	$6,917,180
RIO	Rio Tinto	0%	10%	8%	125.31	$47,070,215,935
IPT	Impact Minerals	0%	10%	57%	0.011	$31,511,743
MIN	Mineral Resources.	-1%	9%	-19%	62.71	$12,495,835,121
MMC	Mitremining	-6%	7%	-20%	0.225	$10,430,523
YAR	Yari Minerals	0%	7%	-6%	0.016	$7,235,367
STM	Sunstone Metals	0%	7%	-57%	0.016	$55,475,728
TYX	Tyranna Res	0%	6%	-29%	0.017	$55,869,231
GL1	Globallith	4%	6%	-29%	1.3125	$338,056,159
NKL	Nickelx	-2%	6%	-29%	0.057	$5,093,280
MLS	Metals Australia	0%	6%	-15%	0.038	$24,337,411
PSC	Prospect Res	1%	5%	-17%	0.1	$45,869,864
JNO	Juno	-4%	5%	-14%	0.082	$14,364,867
LRV	Larvottoresources	-13%	5%	-34%	0.105	$7,061,746
IMI	Infinitymining	-4%	4%	-55%	0.125	$9,732,465
PNN	Power Minerals	-4%	4%	-53%	0.25	$21,804,328
TMB	Tambourahmetals	13%	4%	29%	0.135	$11,196,948
LPI	Lithium Pwr Int	1%	3%	23%	0.54	$343,626,288
AS2	Askarimetals	-3%	3%	-57%	0.185	$14,309,789
BM8	Battery Age Minerals	0%	2%	-56%	0.22	$20,501,484
HAW	Hawthorn Resources	0%	2%	-19%	0.093	$31,826,483
TKM	Trek Metals	-6%	2%	-38%	0.047	$22,393,804
WES	Wesfarmers	-2%	2%	13%	52.1	$59,374,180,399
CC9	Chariot Corporation	210%	0%	0%	1.24	$72,598,252
WCN	White Cliff Min	0%	0%	-14%	0.012	$14,042,153
AVZ	AVZ Minerals	0%	0%	0%	0.78	$2,752,409,203
AAJ	Aruma Resources	-11%	0%	-38%	0.033	$6,497,420
RAG	Ragnar Metals	0%	0%	101%	0.023	$10,901,562
AVW	Avira Resources	0%	0%	-50%	0.0015	$3,200,685
AOA	Ausmon Resorces	0%	0%	-57%	0.003	$3,020,998
VMC	Venus Metals Cor	0%	0%	27%	0.1	$18,972,868
WMC	Wiluna Mining Corp	0%	0%	0%	0.205	$74,238,031
LLL	Leolithium	0%	0%	4%	0.505	$498,553,663
XTC	Xantippe Res	0%	0%	-67%	0.001	$17,528,005
ADG	Adelong Gold	17%	0%	0%	0.007	$4,174,256
BYH	Bryah Resources	-30%	0%	-45%	0.014	$5,379,079
DYM	Dynamicmetals	-14%	0%	0%	0.16	$6,300,000
LIT	Lithium Australia	-9%	-2%	-33%	0.03	$36,665,750
VUL	Vulcan Energy	-10%	-2%	-64%	2.29	$390,605,728
GT1	Greentechnology	-4%	-3%	-53%	0.385	$104,935,401
LLO	Lion One Metals	0%	-3%	-15%	1	$14,101,286
NWM	Norwest Minerals	0%	-3%	-43%	0.031	$8,914,655
INR	Ioneer	-6%	-3%	-59%	0.155	$348,383,004
OCN	Oceanalithium	-12%	-3%	-58%	0.145	$6,899,945
FRS	Forrestaniaresources	0%	-3%	-79%	0.029	$4,530,001
WR1	Winsome Resources	-4%	-3%	-7%	1.145	$192,690,623
PL3	Patagonia Lithium	0%	-3%	0%	0.14	$6,860,490
CRR	Critical Resources	-10%	-4%	-40%	0.026	$46,224,107
GW1	Greenwing Resources	-27%	-4%	-60%	0.11	$20,910,178
ARN	Aldoro Resources	-1%	-5%	-48%	0.084	$11,308,394
LEL	Lithenergy	-2%	-5%	-29%	0.55	$55,625,400
AM7	Arcadia Minerals	-6%	-6%	-59%	0.085	$9,269,259
CMD	Cassius Mining	-3%	-6%	70%	0.034	$17,385,487
CXO	Core Lithium	-13%	-6%	-68%	0.33	$737,242,763
PLS	Pilbara Min	0%	-6%	-5%	3.565	$10,954,444,082
GLN	Galan Lithium	-13%	-6%	-43%	0.615	$224,296,148
ASN	Anson Resources	-9%	-6%	-19%	0.15	$192,860,875
MM1	Midasminerals	0%	-6%	-25%	0.15	$13,012,087
AUN	Aurumin	24%	-7%	-57%	0.026	$8,279,520
AGY	Argosy Minerals	17%	-8%	-69%	0.175	$224,705,200
PMT	Patriotbatterymetals	3%	-9%	42%	1.065	$418,541,060
AZI	Altamin	-7%	-9%	-33%	0.053	$20,369,271
ICL	Iceni Gold	5%	-9%	-24%	0.061	$14,391,429
EPM	Eclipse Metals	11%	-9%	-38%	0.01	$20,438,042
ALY	Alchemy Resource	0%	-9%	-57%	0.01	$11,780,763
DAL	Dalaroometals	-6%	-9%	-70%	0.03	$2,448,000
VSR	Voltaic Strategic	-9%	-9%	-15%	0.02	$9,662,078
NVA	Nova Minerals	0%	-9%	-65%	0.24	$51,668,040
LSR	Lodestar Minerals	13%	-10%	-10%	0.0045	$9,105,288
FTL	Firetail Resources	-9%	-10%	-44%	0.09	$13,401,500
OLY	Olympio Metals	-4%	-10%	-7%	0.135	$8,585,932
A8G	Australasian Metals	-5%	-10%	-8%	0.175	$8,078,677
PFE	Panteraminerals	-10%	-10%	-45%	0.06	$6,424,353
PLL	Piedmont Lithium Inc	0%	-11%	-35%	0.42	$158,083,824
EMH	European Metals Hldg	1%	-11%	-5%	0.605	$79,930,444
DRE	Dreadnought Resources	-3%	-11%	-70%	0.032	$110,622,250
DAF	Discovery Alaska	0%	-11%	-50%	0.016	$3,747,755
TMX	Terrain Minerals	-11%	-11%	-33%	0.004	$5,413,711
TON	Triton Min	-8%	-12%	-36%	0.023	$35,911,271
QPM	Queensland Pacific	-9%	-12%	-52%	0.053	$110,689,717
EG1	Evergreenlithium	-8%	-12%	0%	0.18	$10,121,400
RMX	Red Mount Min	0%	-13%	-30%	0.0035	$9,357,516
SCN	Scorpion Minerals	-6%	-13%	-31%	0.048	$19,521,897
BUR	Burleyminerals	-6%	-13%	-25%	0.165	$15,194,513
LLI	Loyal Lithium	-17%	-14%	22%	0.36	$32,161,342
NMT	Neometals	-11%	-14%	-71%	0.225	$124,494,286
DTM	Dart Mining NL	-16%	-15%	-71%	0.016	$3,676,036
SRZ	Stellar Resources	-6%	-15%	-35%	0.0085	$9,334,585
ANX	Anax Metals	0%	-15%	-47%	0.028	$12,984,776
SYA	Sayona Mining	-12%	-15%	-63%	0.0695	$741,117,313
AML	Aeon Metals	22%	-15%	-59%	0.011	$13,156,807
PLN	Pioneer Lithium	-2%	-16%	0%	0.265	$7,532,625
EMC	Everest Metals Corp	-10%	-16%	11%	0.088	$14,042,347
LIS	Lisenergy	-9%	-17%	-38%	0.2	$131,241,047
DLI	Delta Lithium	-2%	-17%	3%	0.475	$303,012,472
SGQ	St George Min	-13%	-18%	-51%	0.033	$33,458,943
AKE	Allkem	-4%	-18%	-25%	8.38	$5,408,658,139
LKE	Lake Resources	-11%	-18%	-82%	0.1475	$213,366,706
FBM	Future Battery	7%	-18%	45%	0.077	$40,792,479
GSM	Golden State Mining	-25%	-18%	-58%	0.018	$4,299,485
LPD	Lepidico	-6%	-19%	-47%	0.0085	$64,925,618
EVR	Ev Resources	-13%	-19%	-25%	0.0105	$9,545,883
TKL	Traka Resources	0%	-20%	-50%	0.004	$3,501,317
MHC	Manhattan Corp	0%	-20%	-27%	0.004	$11,747,919
IR1	Irismetals	-9%	-20%	14%	1.32	$165,758,750
SLM	Solisminerals	-15%	-21%	127%	0.17	$13,623,524
REC	Rechargemetals	-15%	-21%	-19%	0.11	$12,248,717
IGO	IGO	-4%	-22%	-37%	8.5	$6,618,520,686
LM1	Leeuwin Metals	2%	-22%	0%	0.225	$10,076,625
KAI	Kairos Minerals	-9%	-23%	-26%	0.0155	$39,313,683
PAM	Pan Asia Metals	0%	-23%	-62%	0.155	$25,888,322
LTR	Liontown Resources	-8%	-23%	3%	1.3625	$3,368,972,334
CTN	Catalina Resources	-25%	-25%	-70%	0.003	$3,715,461
ENT	Enterprise Metals	-25%	-25%	-70%	0.003	$2,398,413
MNS	Magnis Energy Tech	-8%	-26%	-85%	0.055	$69,570,893
LRS	Latin Resources	-15%	-27%	86%	0.1825	$540,638,709
AL8	Alderan Resource	0%	-30%	0%	0.007	$8,301,460
JRL	Jindalee Resources	-10%	-31%	-50%	0.94	$60,616,693
M2R	Miramar	-21%	-44%	-75%	0.019	$3,275,130
CODE	COMPANY	% WEEK	% MONTH	% YTD	PRICE	MARKET CAP
TG6	Tgmetals	28%	860%	726%	0.95	$41,104,160
KGD	Kula Gold	28%	185%	48%	0.037	$16,774,631
NIS	Nickelsearch	40%	180%	-12%	0.14	$25,973,132
AZL	Arizona Lithium	-14%	177%	-33%	0.0415	$149,345,371
FL1	First Lithium	23%	165%	261%	0.65	$46,234,100
KTA	Krakatoa Resources	14%	158%	11%	0.049	$21,309,998
MHK	Metalhawk	-15%	129%	18%	0.195	$16,045,111
WML	Woomera Mining	-18%	119%	21%	0.023	$31,036,058
OBM	Ora Banda Mining	8%	86%	144%	0.205	$332,561,749
ZNC	Zenith Minerals	0%	74%	-38%	0.165	$58,142,846

Making news

Maximus Resources (ASX:MXR)

Maximus Resources has identified spodumene as the dominant lithium-bearing mineral from recent Reverse Circulation (RC) drilling at the Kandui prospect, part of the Lefroy lithium project in WA.

Kandui lies within the greater Lefroy project, in WA’s Eastern Goldfields ‘lithium corridor’, ~20km south of Mineral Resources’ (ASX:MIN) Mt Marion Lithium mine.

Our special report today on this has more.

Torque Metals (ASX:TOR)

Torque Metals has followed up on high-grade lithium assays from diamond drilling at its New Dawn project in WA’s Goldfields region with the observation of abundant spodumene in RC drilling.

Inaugural diamond and reverse circulation drilling at the project had got off to a great start after assays from the initial diamond holes returned intercepts of up to 3.92m grading 1.52% Li2O.

Our special report has more.

NickelSearch (ASX:NIS)

A program of in-fill soil sampling has kicked off over four, previously high-priority areas at Carlingup, a project which has attracted the interest of nearby lithium producer Allkem.

NickelSearch’s (ASX:NIS) 108km2 Carlingup project sits on the Ravensthorpe greenstone belt in WA, a region highly prospective for nickel sulphide deposits on the southern margin of the Archean Yilgarn Craton.

This belt is in the same greenstone corridor as IGO’s (ASX:IGO) Forrestania nickel mining complex and adjacent to First Quantum Minerals’ laterite mine, the Ravensthorpe Nickel Operations (RNO).

Our special report has more.

Pure Resources (ASX:PR1)

Pure Resources today announced early results from outcrop pegmatite mapping and sampling now completed at the Järkvisslenr 100 Reservation in Sweden.

What’d their geologists find? The presence of “highly fractionated muscovite-rich pegmatites… with pathfinder minerals triphylite-lithiophilite, cassiterite and potentially zinnwaldite”.

The chief highlight – and it’s a biggie – from the LIBS (Laser Induced Breakdown Spectroscopy) analysis, though, was this:

Up to 11.69% Li was found in hole JARR037. That’s some high-grade Li right there. Additional high-grade lithium samples included:

• JARR036 – 10.13%, 7.04% & 3.94% Li

• JARR037 – 5.48% Li

• JARR024 – 1.36% & 1.21% Li

PR1 notes that the claims are adjacent to and along strike of Sweden’s most advanced lithium deposit, the Järkvissle pegmatite sites owned by Asera Mining.

Uvre (ASX:UVA)

Uvre has moved quickly to get boots on the ground and begin the first phase of exploration work at the South Pass lithium project in Wyoming, USA after recently securing the project.

UVA has a first mover advantage as one of the only two known ASX listed companies currently actively exploration for hard lithium in the State of Wyoming, the other being Chariot Corporation (ASX:CC9).