"No, really. It's all good…" (Pic via Getty Images)
Mining
A brief look at the Aussie lithium market – at least one corner of it – Thursday, February 22.
With a 65% decline in revenue to $757 million, a 77% decline in EBITDA to $415 million, and a 78% drop in underlying profit after tax to $273 million, it certainly wasn’t Pilbara Minerals’ (ASX:PLS) greatest ever half yearly results today.
And the Aussie titan’s share price today somewhat reflected the earnings slump with a -1.23% intraday loss at time of writing.
Attributed by the company, as you might expect, to the tanked lithium prices over the past several months – with an average realised price down 67% year on year from US$4,993 per tonne to US$1,645 per tonne.
The PLS figures were below some analysts expectations – Goldman Sachs, for instance had forecast revenue for the company of $774 million and underlying EBITDA of $469 million.
Were there silver linings, though? There was certainly a bit of positive long-lensing, which is pretty much a prerequisite for all lithium players right now – hopefuls and even major producers like PLS.
Here were some of the good bits:
• Cash flow for PLS is still very good, with a positive cash margin from operations of $536 million for the half and a healthy cash balance of $2.1 billion at the end of December.
• “Long-term outlooks [for the lithium market] remain incredibly positive,” said CEO Dale Henderson, noting the growth of electric vehicle sales globally increasing 31% on the prior year.
• “Moving to short term observations, over the recent while it [lithium pricing] appears to have levelled,” added Henderson. “As it relates to new sales inquiries, we have seen more activities, more inbound inquiries. And I think we’ve had more of the past eight weeks than we’ve had in quite some period.”
• Something that also caught our ears during the PLS webcast this morning – a question Henderson fielded regarding the speculation going around that Chinese lithium mining giant CATL could be shutting down its Jianxiawo mine, which could have a huge effect on global lithium supply, and a potentially positive one for the Aussie sector.
While Henderson noted he had no unique insight around it, he did acknowledge that the news, “if true, is very interesting, because it would signal a swing price, potentially, for spodumene – and a price which would knock out a lot of lepidolite supply… certainly in some ways it could be a positive signal.”
Watch this space.
Weathering the short term market storm & well positioned for the future. Plus balance sheet optionality to shop for bargains. @PilbaraMinerals remains my pure play hard rock #lithium favorite. $PLS pic.twitter.com/JtTbWfkK9P
— Joe Lowry (@globallithium) February 21, 2024
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 | -6% | -6% | -11% | -49% | 0.155 | $10,315,388 |
| AGY | Argosy Minerals Ltd | 0% | 26% | 14% | -83% | 0.125 | $175,550,937 |
| 1MC | Morella Corporation | 0% | -13% | -13% | -71% | 0.0035 | $21,625,798 |
| AML | Aeon Metals Ltd. | -13% | 0% | -22% | -73% | 0.007 | $8,771,205 |
| ASN | Anson Resources Ltd | 1% | 10% | -20% | -54% | 0.088 | $111,945,354 |
| AVZ | AVZ Minerals Ltd | 0% | 0% | 0% | 0% | 0.78 | $2,752,409,203 |
| CXO | Core Lithium | -2% | 7% | 5% | -77% | 0.22 | $480,810,497 |
| EMH | European Metals Hldg | -3% | -10% | -2% | -50% | 0.305 | $39,590,937 |
| EUR | European Lithium Ltd | 0% | 0% | 1% | 19% | 0.086 | $119,904,569 |
| GLN | Galan Lithium Ltd | -4% | 19% | -39% | -71% | 0.34 | $138,216,355 |
| INF | Infinity Lithium | -8% | -6% | -24% | -36% | 0.074 | $37,007,367 |
| INR | Ioneer Ltd | -4% | 8% | 13% | -68% | 0.13 | $285,121,640 |
| JLL | Jindalee Lithium Ltd | 2% | 14% | -20% | -60% | 0.925 | $54,743,556 |
| LIT | Lithium Australia | 0% | 5% | 0% | -33% | 0.029 | $35,443,558 |
| LKE | Lake Resources | 2% | 28% | 23% | -81% | 0.1225 | $170,888,461 |
| LPD | Lepidico Ltd | 0% | 0% | -14% | -60% | 0.006 | $45,829,848 |
| LPI | Lithium Pwr Int Ltd | 0% | -1% | -4% | 45% | 0.5375 | $342,683,100 |
| LTR | Liontown Resources | -2% | 6% | -7% | -17% | 1.115 | $2,750,387,074 |
| MIN | Mineral Resources. | 3% | 7% | 5% | -28% | 60.96 | $11,533,566,031 |
| MLS | Metals Australia | 3% | 3% | -12% | -38% | 0.03 | $18,097,050 |
| AKE | Allkem Limited | 0% | -100% | -100% | -100% | 0 | $6,304,350,967 |
| PLL | Piedmont Lithium Inc | -1% | 4% | -24% | -77% | 0.2175 | $84,877,870 |
| PLS | Pilbara Min Ltd | 0% | 5% | 5% | -17% | 3.66 | $11,014,652,679 |
| QPM | Queensland Pacific | 0% | 8% | -13% | -59% | 0.039 | $78,489,072 |
| PSC | Prospect Res Ltd | -4% | -10% | -16% | -62% | 0.072 | $34,749,897 |
| RLC | Reedy Lagoon Corp. | 0% | 0% | 0% | -43% | 0.005 | $3,097,704 |
| SYA | Sayona Mining Ltd | -27% | 3% | 3% | -78% | 0.0465 | $658,770,945 |
| TKL | Traka Resources | 0% | -25% | -25% | -73% | 0.0015 | $2,625,988 |
| TON | Triton Min Ltd | 0% | 6% | -18% | -44% | 0.018 | $28,105,068 |
| VUL | Vulcan Energy | 0% | 1% | 0% | -67% | 2.06 | $356,191,127 |
| GL1 | Globallith | 2% | 11% | -8% | -69% | 0.51 | $130,132,650 |
| BMM | Balkanminingandmin | 5% | 10% | -22% | -79% | 0.078 | $5,256,998 |
| LEL | Lithenergy | 2% | 29% | -12% | -46% | 0.44 | $44,294,300 |
| ARN | Aldoro Resources | -4% | -4% | 20% | -49% | 0.096 | $13,462,374 |
| NMT | Neometals Ltd | 0% | -10% | -15% | -82% | 0.14 | $87,176,644 |
| IGO | IGO Limited | 3% | 4% | 1% | -46% | 7.26 | $5,346,310,760 |
| AAJ | Aruma Resources Ltd | 0% | -12% | -40% | -77% | 0.015 | $2,953,373 |
| PAM | Pan Asia Metals | 0% | 0% | -3% | -54% | 0.16 | $26,850,684 |
| AX8 | Accelerate Resources | -4% | 4% | -7% | -7% | 0.027 | $17,079,197 |
| AM7 | Arcadia Minerals | 16% | 2% | -4% | -70% | 0.067 | $6,324,906 |
| AS2 | Askarimetalslimited | -2% | 0% | -41% | -85% | 0.082 | $6,547,818 |
| BYH | Bryah Resources Ltd | 0% | -20% | -33% | -68% | 0.008 | $3,468,858 |
| EMS | Eastern Metals | 0% | 0% | 11% | -43% | 0.04 | $3,297,050 |
| FG1 | Flynngold | -4% | -4% | 0% | -44% | 0.05 | $8,535,327 |
| FRS | Forrestaniaresources | 0% | -8% | -24% | -86% | 0.022 | $3,559,286 |
| GSM | Golden State Mining | 0% | -8% | -8% | -73% | 0.011 | $3,073,077 |
| IMI | Infinitymining | -14% | -5% | -27% | -49% | 0.095 | $13,062,873 |
| LRV | Larvottoresources | 0% | -6% | -3% | -54% | 0.062 | $13,863,922 |
| MMC | Mitremining | 4% | 0% | 23% | -8% | 0.27 | $23,182,878 |
| RAG | Ragnar Metals Ltd | 0% | 0% | -9% | 38% | 0.021 | $9,953,600 |
| CTN | Catalina Resources | 0% | -20% | 33% | -50% | 0.004 | $4,953,948 |
| TMB | Tambourahmetals | 1% | 6% | -4% | -19% | 0.089 | $7,298,751 |
| TEM | Tempest Minerals | 0% | 0% | -13% | -71% | 0.007 | $3,633,871 |
| EMC | Everest Metals Corp | -1% | 3% | 3% | -11% | 0.08 | $13,306,932 |
| WCN | White Cliff Min Ltd | -6% | 7% | -21% | 25% | 0.015 | $21,373,749 |
| WML | Woomera Mining Ltd | 25% | 25% | -38% | -64% | 0.005 | $4,872,556 |
| AZL | Arizona Lithium Ltd | -4% | -17% | -4% | -61% | 0.025 | $98,447,571 |
| CRR | Critical Resources | 12% | 46% | 12% | -63% | 0.019 | $30,223,455 |
| KGD | Kula Gold Limited | -10% | 13% | -31% | -64% | 0.009 | $4,232,119 |
| LRS | Latin Resources Ltd | 0% | 8% | 8% | 72% | 0.215 | $601,219,435 |
| PNN | Power Minerals Ltd | -9% | 0% | -14% | -66% | 0.155 | $14,853,937 |
| WR1 | Winsome Resources | -3% | 16% | 2% | -66% | 0.695 | $136,411,311 |
| KZR | Kalamazoo Resources | -9% | -13% | 1% | -42% | 0.096 | $18,354,371 |
| MTM | MTM Critical Metals | 7% | 72% | 52% | 40% | 0.105 | $12,181,043 |
| QXR | Qx Resources Limited | -5% | -14% | -14% | -55% | 0.018 | $21,091,479 |
| SCN | Scorpion Minerals | -6% | -15% | -45% | -76% | 0.017 | $7,370,211 |
| AZI | Altamin Limited | 0% | 9% | -14% | -23% | 0.05 | $21,942,452 |
| ENT | Enterprise Metals | 0% | 0% | -25% | -63% | 0.003 | $2,405,913 |
| KAI | Kairos Minerals Ltd | -7% | 0% | 0% | -29% | 0.013 | $36,692,771 |
| STM | Sunstone Metals Ltd | 0% | 0% | -15% | -69% | 0.011 | $38,507,167 |
| PGD | Peregrine Gold | 0% | 8% | -16% | -36% | 0.27 | $18,089,050 |
| AVW | Avira Resources Ltd | 0% | -25% | -25% | -40% | 0.0015 | $3,200,685 |
| NVA | Nova Minerals Ltd | 2% | 0% | -18% | -54% | 0.265 | $54,831,416 |
| GT1 | Greentechnology | -7% | 4% | -32% | -81% | 0.13 | $44,625,294 |
| BNR | Bulletin Res Ltd | -6% | -5% | -27% | -27% | 0.077 | $24,076,292 |
| CAI | Calidus Resources | 5% | 12% | -19% | -35% | 0.1625 | $94,957,209 |
| MRR | Minrex Resources Ltd | 0% | 8% | -13% | -61% | 0.013 | $14,103,278 |
| A8G | Australasian Metals | -2% | -18% | -36% | -52% | 0.086 | $4,586,603 |
| EFE | Eastern Resources | -13% | -13% | -13% | -59% | 0.007 | $9,935,572 |
| MQR | Marquee Resource Ltd | 5% | 28% | 0% | -28% | 0.023 | $9,094,456 |
| SRZ | Stellar Resources | 14% | 0% | 14% | -20% | 0.008 | $8,043,185 |
| LSR | Lodestar Minerals | 0% | -33% | -33% | -50% | 0.002 | $4,046,795 |
| NWM | Norwest Minerals | -3% | 18% | 32% | -50% | 0.033 | $9,811,363 |
| AOA | Ausmon Resorces | -33% | -33% | -33% | -67% | 0.002 | $3,176,998 |
| VKA | Viking Mines Ltd | -17% | -9% | -23% | -17% | 0.01 | $12,303,101 |
| IPT | Impact Minerals | 0% | 20% | 0% | 20% | 0.012 | $34,376,447 |
| SRI | Sipa Resources Ltd | -5% | -5% | -16% | -28% | 0.021 | $5,019,479 |
| VMC | Venus Metals Cor Ltd | 0% | -4% | -2% | 10% | 0.096 | $18,213,954 |
| RGL | Riversgold | 11% | 11% | 0% | -58% | 0.01 | $8,708,953 |
| ZNC | Zenith Minerals Ltd | -1% | -22% | -43% | -59% | 0.094 | $33,476,184 |
| RAS | Ragusa Minerals Ltd | 0% | -4% | -34% | -78% | 0.025 | $3,564,970 |
| G88 | Golden Mile Res Ltd | 8% | 0% | -24% | -36% | 0.013 | $4,934,674 |
| EPM | Eclipse Metals | -6% | 7% | -6% | -63% | 0.0075 | $16,600,434 |
| EVR | Ev Resources Ltd | 8% | 8% | 17% | -10% | 0.014 | $15,009,648 |
| WC8 | Wildcat Resources | 0% | 18% | 18% | 1867% | 0.59 | $705,544,493 |
| MNS | Magnis Energy Tech | 0% | 0% | 0% | -90% | 0.042 | $50,378,922 |
| RIO | Rio Tinto Limited | -1% | -3% | -3% | -2% | 124.23 | $46,698,999,721 |
| THR | Thor Energy PLC | 0% | 0% | -32% | -53% | 0.026 | $4,830,075 |
| YAR | Yari Minerals Ltd | -14% | -25% | -40% | -67% | 0.006 | $3,376,505 |
| MXR | Maximus Resources | 0% | -9% | -29% | -17% | 0.03 | $9,628,373 |
| DRE | Dreadnought Resources Ltd | 0% | -5% | -26% | -78% | 0.02 | $69,631,459 |
| MM1 | Midasmineralsltd | 0% | -7% | -22% | -47% | 0.09 | $7,807,252 |
| M2R | Miramar | 0% | -5% | -21% | -72% | 0.019 | $2,828,521 |
| LLI | Loyal Lithium Ltd | -4% | 15% | -13% | -21% | 0.27 | $23,320,449 |
| LRD | Lordresourceslimited | 0% | -3% | -11% | -70% | 0.0525 | $1,949,436 |
| WMC | Wiluna Mining Corp | 0% | 0% | 0% | 0% | 0.205 | $74,238,031 |
| AUN | Aurumin | -11% | -6% | 13% | -36% | 0.034 | $13,620,837 |
| ZEO | Zeotech Limited | 3% | 41% | -6% | -23% | 0.031 | $52,002,692 |
| ALY | Alchemy Resource Ltd | 0% | 0% | -11% | -50% | 0.008 | $9,424,610 |
| LIS | Lisenergylimited | 2% | -2% | 2% | -49% | 0.1525 | $96,030,035 |
| GW1 | Greenwing Resources | 3% | -11% | -38% | -68% | 0.075 | $13,231,358 |
| KTA | Krakatoa Resources | -6% | -12% | -32% | -64% | 0.015 | $7,553,716 |
| TYX | Tyranna Res Ltd | 0% | 0% | -7% | -48% | 0.014 | $46,023,955 |
| DAF | Discovery Alaska Ltd | 0% | -13% | -26% | -26% | 0.02 | $4,684,694 |
| FTL | Firetail Resources | 0% | 8% | -35% | -71% | 0.043 | $6,402,939 |
| IR1 | Irismetals | -7% | -5% | -19% | -51% | 0.57 | $79,016,339 |
| LNR | Lanthanein Resources | 0% | 0% | -33% | -70% | 0.006 | $7,738,871 |
| DAL | Dalaroometalsltd | 0% | 0% | -13% | -75% | 0.02 | $1,655,000 |
| TKM | Trek Metals Ltd | -7% | -7% | -5% | -45% | 0.038 | $21,036,151 |
| CY5 | Cygnus Metals Ltd | -4% | -9% | -36% | -80% | 0.064 | $19,534,462 |
| TUL | Tulla Resources | 0% | -100% | -100% | -100% | 0 | $118,262,971 |
| WES | Wesfarmers Limited | 0% | 8% | 11% | 28% | 63.68 | $72,383,193,754 |
| LLL | Leolithiumlimited | 0% | 0% | 0% | -10% | 0.505 | $498,553,663 |
| OCN | Oceanalithiumlimited | 0% | -4% | -27% | -83% | 0.055 | $2,974,208 |
| A11 | Atlantic Lithium | 0% | 1% | 0% | -40% | 0.395 | $256,619,276 |
| CMD | Cassius Mining Ltd | 0% | -3% | -14% | -3% | 0.032 | $17,344,144 |
| VSR | Voltaic Strategic | 6% | 19% | 19% | -10% | 0.019 | $8,695,870 |
| SGQ | St George Min Ltd | 5% | -16% | -32% | -71% | 0.021 | $19,770,809 |
| LLO | Lion One Metals Ltd | 0% | 0% | -30% | -37% | 0.62 | $9,586,267 |
| PAT | Patriot Lithium | 6% | -14% | -32% | -74% | 0.095 | $6,265,542 |
| PL3 | Patagonia Lithium | 0% | 30% | 15% | 0% | 0.15 | $7,369,275 |
| BUR | Burleyminerals | -1% | 0% | -48% | -78% | 0.07 | $7,334,070 |
| CHR | Charger Metals | -4% | -7% | -19% | -65% | 0.125 | $10,064,633 |
| RMX | Red Mount Min Ltd | 25% | 25% | -17% | -50% | 0.0025 | $5,347,152 |
| DLI | Delta Lithium | 2% | 15% | 9% | -25% | 0.315 | $220,664,089 |
| LM1 | Leeuwin Metals Ltd | 0% | -3% | -37% | 0% | 0.088 | $4,122,947 |
| ENT | Enterprise Metals | 0% | 0% | -25% | -63% | 0.003 | $2,405,913 |
| FIN | FIN Resources Ltd | 0% | -13% | -26% | -22% | 0.014 | $9,089,762 |
| DTM | Dart Mining NL | -7% | 0% | -7% | -67% | 0.013 | $3,186,115 |
| NIS | Nickelsearch | -6% | -8% | -27% | -66% | 0.033 | $7,473,986 |
| EG1 | Evergreenlithium | 5% | 15% | -8% | 0% | 0.115 | $6,185,300 |
| MAN | Mandrake Res Ltd | -3% | -8% | -18% | -30% | 0.037 | $23,398,877 |
| FBM | Future Battery | 0% | -2% | -5% | 0% | 0.059 | $31,491,603 |
| POS | Poseidon Nickel | +8% | $24,140,000 | ||||
| 1AE | Aurora Energy Mtls | +13% | $20,700,000 | ||||
| LPM | Lithium Plus | 5% | 15% | -25% | -43% | 0.195 | $15,907,817 |
| KOB | Kobaresourceslimited | 0% | -13% | 17% | 0% | 0.14 | $18,258,333 |
| EMC | Everest Metals Corp | -1% | 3% | 3% | -11% | 0.08 | $13,306,932 |
| LRD | Lordresourceslimited | 0% | -3% | -11% | -70% | 0.0525 | $1,949,436 |
| IEC | Intra Energy Corp | 50% | 50% | 0% | -50% | 0.003 | $3,381,563 |
| REC | Rechargemetals | 0% | 12% | -7% | -39% | 0.076 | $8,462,750 |
| SLM | Solismineralsltd | 0% | 4% | 4% | -25% | 0.12 | $9,418,650 |
| AZS | Azure Minerals | -4% | -4% | -5% | 984% | 3.47 | $1,655,833,266 |
| DYM | Dynamicmetalslimited | -3% | 0% | 6% | 0% | 0.175 | $6,480,000 |
| TOR | Torque Met | 0% | -8% | -19% | 17% | 0.175 | $26,784,367 |
| SBR | Sabre Resources | -5% | -5% | -33% | -42% | 0.02 | $7,859,501 |
| ICL | Iceni Gold | -3% | 3% | -27% | -64% | 0.035 | $8,876,198 |
| TMX | Terrain Minerals | 13% | -10% | -25% | -25% | 0.0045 | $5,726,683 |
| MHC | Manhattan Corp Ltd | 0% | 0% | -25% | -50% | 0.003 | $8,810,939 |
| MHK | Metalhawk. | -7% | -3% | -16% | -46% | 0.07 | $7,456,083 |
| NKL | Nickelxltd | -9% | -11% | 22% | -42% | 0.039 | $3,776,052 |
| TMB | Tambourahmetals | 1% | 6% | -4% | -19% | 0.089 | $7,298,751 |
| ANX | Anax Metals Ltd | -5% | -5% | -21% | -74% | 0.019 | $10,848,959 |
| PMT | Patriotbatterymetals | 2% | 8% | 8% | -46% | 0.83 | $455,476,908 |
| BM8 | Battery Age Minerals | 0% | 18% | -11% | -67% | 0.165 | $15,140,452 |
| L1M | Lightning Minerals | 0% | 1% | -38% | -58% | 0.071 | $2,997,980 |
| ADG | Adelong Gold Limited | 25% | 0% | 11% | -50% | 0.005 | $2,798,623 |
| TOR | Torque Met | 0% | -8% | -19% | 17% | 0.175 | $26,784,367 |
| AL8 | Alderan Resource Ltd | 13% | 50% | -10% | -36% | 0.0045 | $4,427,445 |
| OZM | Ozaurum Resources | 1% | 0% | -25% | 14% | 0.074 | $11,588,750 |
| FL1 | First Lithium Ltd | -2% | -9% | -19% | 42% | 0.255 | $18,213,433 |
| PLN | Pioneer Lithium | -11% | 14% | -3% | 0% | 0.16 | $5,116,500 |
| WYX | Western Yilgarn NL | 0% | 1% | -13% | -8% | 0.0875 | $4,345,032 |
| RDN | Raiden Resources Ltd | -4% | -8% | -20% | 405% | 0.024 | $66,414,628 |
| PFE | Panteraminerals | 0% | -2% | -4% | -52% | 0.053 | $7,028,995 |
| GRE | Greentechmetals | -2% | 13% | -31% | 50% | 0.225 | $19,338,394 |
| OLY | Olympio Metals Ltd | 4% | 57% | 4% | -47% | 0.088 | $5,405,957 |
| SUM | Summitminerals | -9% | -7% | -32% | -49% | 0.071 | $3,717,256 |
| JBY | James Bay Minerals | 0% | 32% | -26% | 0% | 0.185 | $6,002,325 |
| SCN | Scorpion Minerals | -6% | -15% | -45% | -76% | 0.017 | $7,370,211 |
| JNO | Juno | 0% | -6% | -28% | -16% | 0.076 | $13,827,840 |
| CC9 | Chariot Corporation | -2% | -8% | -27% | 0% | 0.29 | $24,126,976 |
| OBM | Ora Banda Mining Ltd | -2% | 2% | 4% | 129% | 0.24 | $418,217,935 |
| RON | Roninresourcesltd | 0% | 9% | -19% | -24% | 0.125 | $4,603,126 |
| CXB0 | ASRA MINERALS LTD. | 0% | -14% | -14% | -63% | 0.00003 | $4,959,487 |
| ASR | Asra Minerals Ltd | -17% | -17% | -17% | -64% | 0.005 | $9,918,974 |
| PFE | Panteraminerals | 0% | -2% | -4% | -52% | 0.053 | $7,028,995 |
| TG6 | Tgmetalslimited | -11% | 29% | 5% | 164% | 0.29 | $17,578,004 |
| HAW | Hawthorn Resources | -6% | -7% | -21% | -25% | 0.077 | $27,471,280 |
| KM1 | Kalimetalslimited | 3% | -2% | -33% | 0% | 0.41 | $30,536,838 |
| AEV | Avenira Limited | 10% | 0% | -8% | -31% | 0.011 | $21,925,716 |
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