This week has been marked by varying opinions about the future of lithium with investment banks who think the market will be oversupplied clashing with the likes of MinRes boss Chris Ellison who said there was “way more demand than supply”.

S&P Global has come in on the side of the bulls, saying that trade frictions, logistical challenges and sustainability concerns are likely to impact on raw material supply chains.

Combine this with its expectation that demand from makers of light passenger vehicles for lithium-ion batteries is estimated to accelerate to 3.4 terrawatt hours by 2030 (up from just 290 gigawatt hours in 2021, and its clear why its Auto Supply Chain & Technology Group believes that lithium supply deficits are very likely in the medium term.

This is particularly true in Europe where the European Parliament and European Council has provisionally agreed that all new vehicles registered in Europe must be zero emissions from 2035.

Along with rising prices for other battery metals, this will drive component and EV prices up.

The financial information firm noted that development chains for critical battery metals – including lithium – are lengthy and complex with countries making belated attempts to build localised supply chains to address logistical issues with Chinese suppliers and geopolitical concerns brought about by Russia’s invasion of Ukraine.

However, China is expected to remain the dominant global supplier for battery materials for some time.

Benchmark Mineral Intelligence chief executive officer Simon Moores has also come out swinging in favour of a lithium supply deficit.

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE % TODAY MARKET CAP
VKA Viking Mines Ltd 0.01 25% $8,202,067
MLS Metals Australia 0.05 14% $26,709,592
LEL Lithenergy 0.945 9% $52,330,500
RLC Reedy Lagoon Corp. 0.013 8% $6,689,123
SRZ Stellar Resources 0.013 8% $12,055,571
IMI Infinitymining 0.3075 8% $17,988,844
WC8 Wildcat Resources 0.03 7% $18,249,636
AAJ Aruma Resources Ltd 0.076 7% $11,144,267
LRS Latin Resources Ltd 0.1175 7% $220,342,360
LNR Lanthanein Resources 0.035 6% $31,773,244
STM Sunstone Metals Ltd 0.036 6% $88,959,178
IPT Impact Minerals 0.009 6% $21,091,650
RAS Ragusa Minerals Ltd 0.185 6% $23,138,176
AZI Altamin Limited 0.093 6% $34,471,074
RDT Red Dirt Metals Ltd 0.59 5% $186,328,327
NWM Norwest Minerals 0.067 5% $14,214,873
ZNC Zenith Minerals Ltd 0.3075 4% $101,926,122
BNR Bulletin Res Ltd 0.125 4% $35,110,932
BYH Bryah Resources Ltd 0.027 4% $7,312,590
PSC Prospect Res Ltd 0.14 4% $62,405,027
TEM Tempest Minerals 0.029 4% $14,133,453
TKM Trek Metals Ltd 0.088 4% $30,935,332
WCN White Cliff Min Ltd 0.0175 3% $12,709,257
LRV Larvottoresources 0.18 3% $8,733,463
ZEO Zeotech Limited 0.037 3% $58,123,183
RGL Riversgold 0.038 3% $28,723,139
EFE Eastern Resources 0.043 2% $47,089,181
PAM Pan Asia Metals 0.435 2% $62,413,626
GW1 Greenwing Resources 0.3575 2% $44,171,912
ASN Anson Resources Ltd 0.24 2% $276,335,090
AM7 Arcadia Minerals 0.245 2% $11,207,494
KZR Kalamazoo Resources 0.25 2% $36,460,747
LIT Lithium Australia 0.052 2% $62,280,775
CRR Critical Resources 0.053 2% $77,663,126
KAI Kairos Minerals Ltd 0.03 2% $57,940,758
ARN Aldoro Resources 0.38 1% $42,182,744
GL1 Globallith 2.3 1% $472,610,041
LIS Lisenergylimited 0.385 1% $63,047,391
EUR European Lithium Ltd 0.094 1% $134,779,243
M2R Miramar 0.096 1% $6,714,766
WES Wesfarmers Limited 47.64 1% $53,551,274,630
RIO Rio Tinto Limited 106.38 0% $39,404,601,116
ADV Ardiden Ltd 0.009 0% $24,015,018
1MC Morella Corporation 0.017 0% $98,626,448
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
LKE Lake Resources 1.055 0% $1,467,820,138
QPM Queensland Pacific 0.175 0% $302,796,622
TKL Traka Resources 0.005 0% $3,443,873
AX8 Accelerate Resources 0.029 0% $7,843,308
EMS Eastern Metals 0.11 0% $4,297,085
FG1 Flynngold 0.12 0% $7,687,326
FRS Forrestaniaresources 0.2 0% $10,083,964
GSM Golden State Mining 0.046 0% $5,382,653
MMC Mitremining 0.17 0% $4,604,467
SHH Shree Minerals Ltd 0.01 0% $12,384,869
TSC Twenty Seven Co. Ltd 0.002 0% $10,643,256
WML Woomera Mining Ltd 0.014 0% $10,961,817
SCN Scorpion Minerals 0.075 0% $25,027,964
ENT Enterprise Metals 0.01 0% $6,529,807
PGD Peregrine Gold 0.485 0% $18,794,666
AVW Avira Resources Ltd 0.0035 0% $7,468,265
NVA Nova Minerals Ltd 0.835 0% $153,357,165
A8G Australasian Metals 0.23 0% $9,469,214
LSR Lodestar Minerals 0.005 0% $8,692,187
SRI Sipa Resources Ltd 0.044 0% $9,021,091
VMC Venus Metals Cor Ltd 0.14 0% $24,931,016
G88 Golden Mile Res Ltd 0.023 0% $4,705,564
EPM Eclipse Metals 0.019 0% $38,460,880
MXR Maximus Resources 0.047 0% $14,988,571
MM1 Midasmineralsltd 0.17 0% $9,712,400
XTC Xantippe Res Ltd 0.007 0% $57,016,609
WMC Wiluna Mining Corp 0.205 0% $74,238,031
KTA Krakatoa Resources 0.059 0% $20,337,885
DAF Discovery Alaska Ltd 0.029 0% $6,502,806
DAL Dalaroometalsltd 0.115 0% $3,435,625
TUL Tulla Resources 0.385 0% $77,228,203
CMD Cassius Mining Ltd 0.03 0% $12,112,227
NMT Neometals Ltd 1.075 0% $596,960,470
LLI Loyal Lithium Ltd 0.57 -1% $26,875,500
LLL Leolithiumlimited 0.565 -1% $562,394,440
GT1 Greentechnology 1.04 -1% $200,275,313
DRE Dreadnought Resources Ltd 0.095 -1% $295,076,309
CY5 Cygnus Gold Limited 0.465 -1% $72,109,898
IR1 Irismetals 1.85 -1% $117,305,100
MIN Mineral Resources. 81.975 -1% $15,742,275,885
LTR Liontown Resources 1.955 -1% $4,348,941,993
AZL Arizona Lithium Ltd 0.078 -1% $190,384,119
JRL Jindalee Resources 2.23 -1% $129,676,463
DTM Dart Mining NL 0.071 -1% $11,178,732
QXR Qx Resources Limited 0.061 -2% $54,675,464
CHR Charger Metals 0.605 -2% $26,817,712
ALY Alchemy Resource Ltd 0.0285 -2% $34,019,211
MQR Marquee Resource Ltd 0.055 -2% $17,786,584
A11 Atlantic Lithium 0.82 -2% $505,794,286
LRD Lordresourceslimited 0.27 -2% $9,153,271
GLN Galan Lithium Ltd 1.47 -2% $456,854,822
PLL Piedmont Lithium Inc 0.8425 -2% $453,710,888
CXO Core Lithium 1.385 -2% $2,601,221,978
MRR Minrex Resources Ltd 0.043 -2% $47,675,835
IGO IGO Limited 15.47 -2% $12,010,267,514
AKE Allkem Limited 14.075 -3% $9,207,782,762
MNS Magnis Energy Tech 0.385 -3% $383,280,936
CAI Calidus Resources 0.38 -3% $170,734,865
OCN Oceanalithiumlimited 0.57 -3% $19,612,125
LPD Lepidico Ltd 0.0175 -3% $137,479,882
KGD Kula Gold Limited 0.035 -3% $13,003,629
VUL Vulcan Energy 7.37 -3% $1,087,914,935
AOU Auroch Minerals Ltd 0.063 -3% $24,122,267
BMM Balkanminingandmin 0.31 -3% $13,763,442
TMB Tambourahmetals 0.155 -3% $6,590,816
TYX Tyranna Res Ltd 0.031 -3% $76,973,610
PLS Pilbara Min Ltd 4.745 -3% $14,673,692,375
AML Aeon Metals Ltd. 0.03 -3% $33,988,419
EMH European Metals Hldg 0.745 -3% $91,691,048
ESS Essential Metals Ltd 0.44 -3% $116,322,417
SYA Sayona Mining Ltd 0.2175 -3% $1,870,675,344
AS2 Askarimetalslimited 0.415 -3% $21,215,822
INR Ioneer Ltd 0.55 -4% $1,196,052,812
TON Triton Min Ltd 0.025 -4% $35,952,389
CZL Cons Zinc Ltd 0.022 -4% $10,647,193
AGY Argosy Minerals Ltd 0.65 -4% $954,997,099
EVR Ev Resources Ltd 0.02 -5% $19,445,665
THR Thor Mining PLC 0.0095 -5% $11,028,835
INF Infinity Lithium 0.185 -5% $85,233,470
WR1 Winsome Resources 1.11 -5% $158,083,373
PNN Power Minerals Ltd 0.54 -5% $41,129,509
AUN Aurumin 0.069 -5% $9,694,921
FTL Firetail Resources 0.17 -6% $11,700,000
LPI Lithium Pwr Int Ltd 0.54 -7% $226,896,653
AOA Ausmon Resorces 0.006 -8% $5,572,381
MTM Mtmongerresources 0.11 -8% $4,501,204
RMX Red Mount Min Ltd 0.0045 -10% $8,211,819
RAG Ragnar Metals Ltd 0.017 -11% $7,204,513
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Lithium was weighed towards the losers today with just 41 companies posting gains while 54 were in the red.

 

Who’s got news out?

Riversgold (ASX:RGL)

Riversgold’s review of historical data has identified three lithium target areas at its Mt Holland tenement in Western Australis’ Yilgarn Craton.

Notably, historical drilling co-incident with the surface geochemical anomalies had also intersected pegmatite.

The company has now started soil sampling and will trial deep ground penetrating radar, which was used successfully at its Tambourah project in the Pilbara, to help define targets for upcoming drilling.