• Chinese electric car company giant BYD turns heads with affordable new EV range
  • Vulcan Energy looks to be securing big Euro funding for its German lithium operation
  • What’s up, what’s down for ASX lithium stocks today?

 

What did we learn about this and that pertaining to lithium here and there on Monday, February 26? Let’s find out…

Well, first of all, we know there’s some positivity around the traps for a potential turnaround in lithium spot prices, because we’re seeing that narrative pretty consistently pushed by notable lithium market analysts… case in point the contango-watching Juan Carlos Zuleta…

Certainly lithium prices appear to have flattened out recently – see below. Whether that’s an actual bottoming out is yet to be determined.

 

Meanwhile, making news

• Chinese electric car giant BYD has launched what’s being dubbed the “Corolla Killer” – a new US$15k EV, in a potentially disruptive move on the global auto market.

Launched last week in China, the all-electric Qin Plus has five variants with prices ranging from AUD $23,300 to $29,700.

The Qin Plus comes with a 100kW motor and the option of either a 48 kWh battery providing 420 km CLTC range or a 57.6 kW hour battery with 510 km range.

EVs at far more affordable prices than ever before sets the cats among the pigeons, to be sure.

Per Aussie electric vehicle news site The Driven we read that mobility consultant James Carter offered the following on a LinkedIn post, which rams home the point:

“The new BYD Qin Plus EV Honor Edition is the car that makes EVs way cheaper than ICE vehicles and blows open the mainstream market.”

“Today, most buyers want a good, solid reliable car that has some nice features and doesn’t cost too much,” he continued.

“For the past 50 years, this has meant Toyota Motor Corporation Corolla, and it’s for that reason it has been the world’s top selling vehicle for decades.

“However, if there’s a vehicle that costs even less to buy, and far less to run, while retaining solid and reliable qualities, it will be a huge hit. Enter the BYD Qin Plus.”

 

• Vulcan Energy (ASX:VUL) , an ASX-listed lithium hopeful is close to receiving up to €500 million (~A$825 million) of project financing from the European Investment Bank (EIB).

Primary due diligence of Vulcan Energy’s (ASX:VUL) Zero Carbon Lithium project by the EIB has launched into the “under appraisal” stage with proposed funding of up to $825 million.

This could serve as a cornerstone investment into the development of the company’s flagship project in Germany, while the financial backing signals what may be one of the largest public investment pledges in Europe attached to an Australian company project.

The Zero Carbon Lithium project aims to “decarbonise lithium production through developing the world’s first net carbon neutral lithium business”, with the co-production of renewable geothermal energy on a mass scale.

VUL is looking towards downstream lithium-brine production with a target of 24,000tpa lithium hydroxide using geothermal energy through its Lithium Extraction and Optimisation Plant (LEOP) in the Upper Rhine Valley around Landau, Germany.

Executive chairman Francis Wedin recently joined Stockhead’s Rock Yarns podcast with host Peter Strachan to talk about the company’s aspirations. Listen here to hear all about it.

 

• Arcadium Lithium (ASX:LTM)  delivered its first financials on Friday after officially becoming a merged entity of Allkem and Livent last month.

The report was mixed, but the company essentially closed out the year on a high gaining $2 billion in pro-forma 2023 revenue.

Other things to note, though, although Josh noted it most comprehensively in Ground Breakers, the company has announced a pullback in spodumene production at its Mt Cattlin mine, what can be viewed as the latest sign of supply discipline in the lithium market.

Per Ground Breakers:

A decision has been made to pull back production and mining at the marginal Mt Cattlin mine outside Ravensthorpe of WA’s South Coast, where shipments are expected to reduce from 204,000t in 2023 to around 130,000t in 2024.

But also big news from Arcadium, it’s made the decision to:

delay capital spending on its Sal de Vida brine project in Argentina and James Bay/Whabouchi projects in Quebec, where a review of combining the development of the two mines into one feeding a lithium hydroxide plant at Becancour from 2026 will put back project delivery by 6-9 months.

As of December 31 2023, Allkem had a combined consolidated cash balance of $892 million and net debt totalling $297 million.

Arcadium boss Paul Graves said Mt Cattlin remained cashflow positive at reduced operating rates, but noted it would be hard to find a buyer for the asset given its short mine life. It only has around three years of life left unless a planned underground development stacks up financially.

 

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 TODAY WEEK 1 MONTH % 12 MONTH % PRICE MARKET CAP
ADV Ardiden Ltd 7% 0% 0% -47% 0.16 $9,377,626
AGY Argosy Minerals Ltd 13% 18% 43% -82% 0.13 $161,506,862
1MC Morella Corporation 14% 33% 0% -67% 0.004 $21,625,798
AML Aeon Metals Ltd. -14% -14% -37% -71% 0.006 $7,674,804
ASN Anson Resources Ltd -1% -3% -6% -54% 0.088 $114,518,810
AVZ AVZ Minerals Ltd 0% 0% 0% 0% 0.78 $2,752,409,203
CXO Core Lithium 5% -4% 13% -76% 0.22 $448,756,464
EMH European Metals Hldg 2% -10% 7% -50% 0.31 $38,334,082
EUR European Lithium Ltd 0% 0% 1% 23% 0.086 $119,904,569
GLN Galan Lithium Ltd 3% -4% -38% -71% 0.33 $124,589,390
INF Infinity Lithium -3% -13% -22% -33% 0.07 $33,306,631
INR Ioneer Ltd 0% 0% 23% -64% 0.135 $285,121,640
JLL Jindalee Lithium Ltd -7% 2% -14% -63% 0.86 $55,953,358
LIT Lithium Australia 0% -3% 0% -32% 0.028 $34,221,367
LKE Lake Resources 9% 0% 25% -80% 0.12 $156,647,756
LPD Lepidico Ltd 0% -8% -14% -60% 0.006 $45,829,848
LPI Lithium Pwr Int Ltd 0% -2% -4% 48% 0.5325 $342,683,100
LTR Liontown Resources 8% -1% 28% -12% 1.165 $2,604,992,162
MIN Mineral Resources. 3% 7% 19% -25% 64.18 $12,164,018,193
MLS Metals Australia -2% -2% -8% -41% 0.0295 $18,721,086
AKE Allkem Limited 0% -100% -100% -100% 0 $6,304,350,967
PLL Piedmont Lithium Inc -4% -13% -27% -79% 0.1925 $77,161,700
PLS Pilbara Min Ltd 6% 5% 19% -13% 3.89 $11,044,747,358
QPM Queensland Pacific -3% -8% -8% -63% 0.037 $76,476,532
PSC Prospect Res Ltd 3% 1% -10% -65% 0.072 $32,433,237
RLC Reedy Lagoon Corp. 0% 25% 0% -35% 0.005 $3,097,704
SYA Sayona Mining Ltd -2% -25% 3% -82% 0.041 $432,318,433
TKL Traka Resources 0% 50% -25% -73% 0.0015 $2,625,988
TON Triton Min Ltd -6% -6% -15% -48% 0.017 $28,105,068
VUL Vulcan Energy 9% 14% 13% -63% 2.31 $364,794,777
GL1 Globallith 2% -1% -1% -67% 0.515 $131,433,976
BMM Balkanminingandmin 0% -5% -16% -78% 0.076 $5,399,079
LEL Lithenergy -5% 3% 3% -41% 0.455 $49,444,800
ARN Aldoro Resources -3% -9% -9% -54% 0.086 $11,981,513
NMT Neometals Ltd 0% -7% -16% -83% 0.135 $84,063,193
IGO IGO Limited 3% 0% 4% -44% 7.47 $5,475,046,288
AAJ Aruma Resources Ltd 0% 0% -17% -78% 0.015 $2,953,373
PAM Pan Asia Metals 0% 0% -6% -56% 0.16 $26,850,684
AX8 Accelerate Resources 4% -10% -7% 0% 0.027 $15,859,254
AM7 Arcadia Minerals 0% 21% 0% -68% 0.07 $7,633,507
AS2 Askarimetalslimited 4% 4% -39% -86% 0.085 $6,391,917
BYH Bryah Resources Ltd -11% -20% -27% -61% 0.008 $3,902,465
EMS Eastern Metals -8% -8% 3% -47% 0.037 $3,297,050
FG1 Flynngold 0% -7% -6% -38% 0.05 $8,207,046
FRS Forrestaniaresources -5% -13% -28% -86% 0.021 $3,559,286
GSM Golden State Mining 0% -17% -9% -75% 0.01 $2,793,706
IMI Infinitymining 0% 17% -8% -50% 0.11 $13,062,873
LRV Larvottoresources 0% -5% -2% -54% 0.063 $14,087,534
MMC Mitremining 0% 2% 33% -7% 0.28 $24,966,176
RAG Ragnar Metals Ltd -5% -5% -13% 31% 0.02 $9,953,600
CTN Catalina Resources 0% 25% 67% -41% 0.005 $6,192,434
TMB Tambourahmetals 1% -3% 3% -12% 0.092 $7,547,572
TEM Tempest Minerals 0% 0% 0% -70% 0.007 $3,633,871
EMC Everest Metals Corp 4% 6% 5% -3% 0.083 $13,142,649
WCN White Cliff Min Ltd 0% 7% 0% 36% 0.015 $20,069,122
WML Woomera Mining Ltd 0% 11% -17% -64% 0.005 $6,090,695
AZL Arizona Lithium Ltd 0% -11% 9% -60% 0.025 $94,661,126
CRR Critical Resources 0% 13% 20% -63% 0.018 $32,001,305
KGD Kula Gold Limited 0% -11% -33% -64% 0.008 $3,385,695
LRS Latin Resources Ltd 1% -8% 10% 67% 0.1925 $531,310,198
PNN Power Minerals Ltd 0% 21% -3% -62% 0.175 $15,290,818
WR1 Winsome Resources 7% -7% 21% -65% 0.705 $125,918,134
KZR Kalamazoo Resources 1% -9% 3% -42% 0.096 $16,606,336
MTM MTM Critical Metals 3% 32% 32% -5% 0.1 $12,056,747
QXR Qx Resources Limited 6% -10% 0% -51% 0.019 $19,981,401
SCN Scorpion Minerals 13% -14% -36% -75% 0.018 $6,551,299
AZI Altamin Limited -2% 2% -16% -34% 0.049 $21,942,452
ENT Enterprise Metals 0% 0% -25% -63% 0.003 $2,405,913
KAI Kairos Minerals Ltd 8% 8% 0% -29% 0.013 $31,450,946
STM Sunstone Metals Ltd 0% 0% -17% -71% 0.01 $35,006,515
PGD Peregrine Gold 0% -11% -22% -45% 0.235 $15,880,929
AVW Avira Resources Ltd 0% -25% -25% -40% 0.0015 $3,200,685
NVA Nova Minerals Ltd 4% 2% -17% -51% 0.275 $55,885,866
GT1 Greentechnology 12% -3% -15% -78% 0.14 $39,844,012
BNR Bulletin Res Ltd 1% -6% -4% -29% 0.078 $22,608,226
CAI Calidus Resources 0% -3% -23% -36% 0.15 $91,894,073
MRR Minrex Resources Ltd 0% 4% 0% -59% 0.013 $14,103,278
A8G Australasian Metals 0% -24% -36% -53% 0.08 $4,169,640
EFE Eastern Resources -13% -13% -13% -56% 0.007 $9,935,572
MQR Marquee Resource Ltd -4% 16% 10% -29% 0.022 $9,507,841
SRZ Stellar Resources 0% 29% 29% -18% 0.009 $10,341,238
LSR Lodestar Minerals 0% 0% -33% -60% 0.002 $4,046,795
NWM Norwest Minerals -3% 0% 29% -16% 0.031 $9,234,224
AOA Ausmon Resorces 0% 0% -33% -67% 0.002 $2,117,999
VKA Viking Mines Ltd 0% -8% -8% 0% 0.011 $11,277,843
IPT Impact Minerals -8% 0% -8% 38% 0.011 $34,376,447
SRI Sipa Resources Ltd 0% -17% -9% -26% 0.02 $4,563,163
VMC Venus Metals Cor Ltd 0% -4% -2% 14% 0.096 $18,213,954
RGL Riversgold 13% -10% 0% -59% 0.009 $7,741,292
ZNC Zenith Minerals Ltd -2% -3% -43% -60% 0.092 $33,123,803
RAS Ragusa Minerals Ltd -4% -18% -34% -79% 0.023 $3,422,371
G88 Golden Mile Res Ltd 0% -14% -20% -44% 0.012 $4,934,674
EPM Eclipse Metals 0% 14% 0% -60% 0.008 $16,600,434
EVR Ev Resources Ltd 0% 8% 40% -7% 0.014 $16,164,237
WC8 Wildcat Resources 7% 15% 54% 2098% 0.6375 $711,523,683
MNS Magnis Energy Tech 0% 0% 0% -89% 0.042 $50,378,922
RIO Rio Tinto Limited -2% -5% -4% -1% 122.135 $46,179,297,022
THR Thor Energy PLC 0% -4% -26% -57% 0.026 $4,830,075
YAR Yari Minerals Ltd -17% -38% -50% -75% 0.005 $2,894,147
MXR Maximus Resources 3% -11% -9% -9% 0.032 $9,949,319
DRE Dreadnought Resources Ltd -5% -5% -14% -78% 0.019 $69,631,459
MM1 Midasmineralsltd -9% -9% -25% -50% 0.082 $7,807,252
M2R Miramar 0% 6% -25% -74% 0.018 $2,679,652
LLI Loyal Lithium Ltd -2% 2% 20% -19% 0.275 $23,320,449
LRD Lordresourceslimited 0% -3% -11% -69% 0.0525 $1,949,436
WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031
AUN Aurumin 0% -3% 21% -29% 0.034 $12,187,065
ZEO Zeotech Limited -4% 4% -16% -36% 0.027 $48,535,846
ALY Alchemy Resource Ltd 0% 0% 0% -50% 0.008 $9,424,610
LIS Lisenergylimited -6% -3% 0% -49% 0.145 $99,231,036
GW1 Greenwing Resources 0% -14% -35% -69% 0.072 $13,050,107
KTA Krakatoa Resources 0% -13% -26% -65% 0.014 $6,609,501
TYX Tyranna Res Ltd -7% -13% -13% -48% 0.013 $46,023,955
DAF Discovery Alaska Ltd 0% -13% -26% -26% 0.02 $4,684,694
FTL Firetail Resources -6% -4% -23% -71% 0.046 $7,296,372
IR1 Irismetals -2% -6% 7% -50% 0.585 $77,073,314
LNR Lanthanein Resources 0% -17% -17% -74% 0.005 $6,449,060
DAL Dalaroometalsltd 10% 10% 0% -73% 0.022 $1,655,000
TKM Trek Metals Ltd 0% -7% 0% -43% 0.038 $19,496,921
CY5 Cygnus Metals Ltd 2% -10% -25% -80% 0.061 $17,493,548
TUL Tulla Resources 0% -100% -100% -100% 0 $118,262,971
WES Wesfarmers Limited 1% 5% 14% 36% 65.95 $73,698,839,394
LLL Leolithiumlimited 0% 0% 0% -6% 0.505 $498,553,663
OCN Oceanalithiumlimited 0% 0% -24% -83% 0.055 $2,974,208
A11 Atlantic Lithium 1% 3% 3% -40% 0.38 $243,625,895
CMD Cassius Mining Ltd 3% -6% -6% 0% 0.033 $17,344,144
VSR Voltaic Strategic -5% 18% 33% 0% 0.02 $10,145,182
SGQ St George Min Ltd 0% -13% -33% -73% 0.02 $19,770,809
LLO Lion One Metals Ltd 0% 0% -30% -31% 0.62 $9,586,267
PAT Patriot Lithium -13% -17% -46% -76% 0.083 $6,613,628
PL3 Patagonia Lithium -3% 43% 32% 0% 0.165 $8,351,845
BUR Burleyminerals -9% -9% -51% -80% 0.064 $7,230,773
CHR Charger Metals -4% -11% -4% -62% 0.125 $10,064,633
RMX Red Mount Min Ltd 0% -20% 0% -60% 0.002 $5,347,152
DLI Delta Lithium 3% 0% 11% -20% 0.3 $206,427,696
LM1 Leeuwin Metals Ltd 0% 1% -30% 0% 0.088 $4,122,947
ENT Enterprise Metals 0% 0% -25% -63% 0.003 $2,405,913
FIN FIN Resources Ltd 0% -3% -18% -13% 0.014 $9,089,762
DTM Dart Mining NL 8% 0% 0% -66% 0.014 $2,958,535
NIS Nickelsearch -3% -11% -17% -65% 0.034 $7,473,986
EG1 Evergreenlithium -5% -5% -19% 0% 0.105 $6,185,300
MAN Mandrake Res Ltd 8% 3% 3% -27% 0.04 $22,783,117
FBM Future Battery -4% -10% -11% -10% 0.054 $29,890,335
LPM Lithium Plus 0% -5% -18% -45% 0.18 $15,477,876
KOB Kobaresourceslimited -4% -22% -7% -14% 0.125 $16,954,167
EMC Everest Metals Corp 4% 6% 5% -3% 0.083 $13,142,649
LRD Lordresourceslimited 0% -3% -11% -69% 0.0525 $1,949,436
IEC Intra Energy Corp 0% 0% -17% -58% 0.0025 $4,226,954
REC Rechargemetals 0% -12% -6% -46% 0.076 $8,462,750
SLM Solismineralsltd -8% -4% 0% -25% 0.12 $10,203,537
AZS Azure Minerals 0% -3% -4% 1088% 3.505 $1,609,965,308
DYM Dynamicmetalslimited 0% -6% 14% -3% 0.16 $5,760,000
TOR Torque Met -3% -6% -15% 6% 0.17 $26,784,367
SBR Sabre Resources 0% -5% -23% -39% 0.02 $7,485,239
ICL Iceni Gold -16% -27% -46% -73% 0.027 $7,889,954
TMX Terrain Minerals 0% 0% -10% -36% 0.0045 $6,442,518
MHC Manhattan Corp Ltd 0% 0% -25% -54% 0.003 $8,810,939
MHK Metalhawk. -1% 0% -21% -46% 0.07 $7,058,426
NKL Nickelxltd -3% -5% 13% -49% 0.036 $3,249,161
TMB Tambourahmetals 1% -3% 3% -12% 0.092 $7,547,572
ANX Anax Metals Ltd 0% 0% -5% -73% 0.019 $10,306,511
PMT Patriotbatterymetals 1% -10% 10% -49% 0.77 $427,361,049
BM8 Battery Age Minerals 6% 17% -5% -66% 0.175 $15,140,452
L1M Lightning Minerals -4% -1% -27% -59% 0.069 $3,040,205
ADG Adelong Gold Limited 0% 0% 0% -47% 0.005 $3,498,278
TOR Torque Met -3% -6% -15% 6% 0.17 $26,784,367
AL8 Alderan Resource Ltd 0% 25% 25% -29% 0.005 $5,534,307
OZM Ozaurum Resources 0% -5% -9% 30% 0.073 $11,588,750
FL1 First Lithium Ltd -2% -9% -8% 33% 0.24 $17,162,658
PLN Pioneer Lithium 0% -3% -3% 0% 0.16 $4,548,000
WYX Western Yilgarn NL -5% -5% -16% -10% 0.083 $4,345,032
RDN Raiden Resources Ltd 0% -11% -4% 359% 0.024 $63,758,043
PFE Panteraminerals 0% -8% 0% -57% 0.049 $6,498,505
GRE Greentechmetals 0% -8% -12% 69% 0.22 $18,497,595
OLY Olympio Metals Ltd 2% 2% 9% -47% 0.087 $5,405,957
SUM Summitminerals 3% -5% -23% -51% 0.074 $3,431,313
JBY James Bay Minerals -3% -6% -18% 0% 0.165 $5,515,650
SCN Scorpion Minerals 13% -14% -36% -75% 0.018 $6,551,299
JNO Juno 0% -5% -20% -14% 0.076 $13,827,840
CC9 Chariot Corporation 6% -11% -27% 0% 0.275 $21,264,453
OBM Ora Banda Mining Ltd -2% -2% 17% 129% 0.24 $418,217,935
RON Roninresourcesltd 0% -8% -26% -28% 0.115 $4,234,876
CXB0 ASRA MINERALS LTD. 0% -14% -14% -61% 0.00003 $4,959,487
ASR Asra Minerals Ltd 0% 0% 0% -54% 0.006 $9,918,974
PFE Panteraminerals 0% -8% 0% -57% 0.049 $6,498,505
TG6 Tgmetalslimited 9% 18% 20% 173% 0.3 $14,873,696
HAW Hawthorn Resources 0% 0% -15% -17% 0.083 $27,806,296
KM1 Kalimetalslimited 1% -2% -24% 0% 0.405 $30,536,838
AEV Avenira Limited 0% -9% -9% -33% 0.01 $21,925,716
ADV Ardiden Ltd 7% 0% 0% -47% 0.16 $9,377,626
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