• Pilbara Minerals sells 5,000t of lower grade (5.5%) spodumene for a record $US35.5m via Battery Material Exchange
  • “We could see a bit of an M&A frenzy with producers like Pilbara, Allkem and IGO looking to secure strategic assets of scale and increase their exposure to sustained higher prices”: Seneca Financial Solutions
  • This week’s biggest movers: Element 25, St George, Peak, Queensland Pacific

Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, manganese, magnesium, and vanadium.

 

Here’s a statistic to illustrate just how crazy the lithium boom has been, so far.

In the entire September quarter of 2020, Pilbara Minerals (ASX:PLS) sold 43,630 tonnes (t) of spodumene concentrate (grading 6% lithium, the industry benchmark) for $23m.

Back then, spodumene was selling for between $US380-$US400/t, below the cost of production for many companies.

Yesterday arvo, PLS sold 5,000t of lower grade 5.5% stuff for $US35.5m in one go through its Battery Material Exchange.

That’s a record US$7,100/t, or US$7,830/t on a 6% basis.

It is also comfortably in super profits territory, with PLS recently flagging a $555/t ($US350/t) cost of production (FOB Port Hedland ex royalties) for FY22.

Huge margins. No wonder it has +$850m in the bank, more than its entire market cap in September 2020.

New producer Core Lithium (ASX:CXO) is also taking advantage of spot market desperation, recently selling a cargo of 15,000t spod DSO with an average grade of just 1.4% for US$951/t.

This handy $US14m cash injection will help commission all logistics processes and procedures between the Finniss mine site and Darwin Port, in advance of concentrate production (6%) in H1 2023.

It shows strong demand conditions remain of the EV battery material, which experts have been quick to caution will remain strong even as some analysts muse of a potential supply hike and price collapse in 2023.

 

M&A frenzy could be on the cards

But going back to PLS and its insane cash pile for a minute.

With so much free cash flow coming through the doors the $14.29b market cap company, and its growth focused peers, could be running the ruler over the next crop of producers.

“We could see a bit of an M&A frenzy with producers like Pilbara, Allkem (ASX:AKE) [$US664m in the bank] and IGO (ASX:IGO) looking to secure strategic assets of scale and increase their exposure to sustained higher prices,” Luke Laretive, Seneca Financial Solutions’ CEO, says.

“There is a large valuation differential between ASX-listed lithium developers who expect to get into production next year vs those with longer term development time horizons,” he says.

“We see an opportunity these generally higher quality, more strategic and larger scale projects who might not get into production until 2024 or 2025, as the most likely M&A targets.

“Developers that fit this bill include Vulcan Energy Resources (ASX:VUL) ($897m market cap), Piedmont Lithium (ASX:PLL) ($1.5bn) and Liontown Resources (ASX:LTR) ($3.9bn).”

 

Battery Metals Winners and Losers

Here’s how a basket of ASX companies with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese, and vanadium is performing>>>

Battery metals stocks missing from our list? Shoot a mail to [email protected].

CODE COMPANY % Week % Month % Six Month % Year PRICE MARKET CAP
E25 Element 25 Ltd 56% 23% 23% -44% 1.13 $164,927,199
CZL Cons Zinc Ltd 32% 32% -3% -15% 0.029 $12,961,801
SGQ St George Min Ltd 29% 53% 4% -34% 0.049 $34,300,873
PEK Peak Rare Earths Ltd 25% -17% -38% -44% 0.455 $87,086,386
LPM Lithium Plus 25% -7% 0% 0% 0.76 $32,571,286
QPM Queensland Pacific 22% 14% -4% -30% 0.1825 $302,796,622
FRB Firebird Metals 17% 3% -39% -60% 0.205 $13,404,501
TKL Traka Resources 17% 0% -30% -50% 0.007 $4,821,422
DTM Dart Mining NL 17% -1% 11% -21% 0.091 $13,313,674
INF Infinity Lithium 16% 23% 30% 43% 0.215 $87,506,952
GL1 Globallith 16% -7% 14% 562% 2.58 $391,984,692
LTR Liontown Resources 16% 8% 7% 13% 1.77 $3,766,886,625
ADV Ardiden Ltd 14% 14% -43% -33% 0.008 $21,346,683
ARN Aldoro Resources 14% 2% -13% -39% 0.245 $24,398,893
POS Poseidon Nick Ltd 13% -4% -42% -50% 0.052 $153,197,976
XTC Xantippe Res Ltd 13% 0% -36% 350% 0.009 $73,307,069
CNB Carnaby Resource Ltd 11% 3% -36% 186% 0.83 $118,539,933
BUX Buxton Resources Ltd 11% -9% -5% 49% 0.1 $14,582,909
CXO Core Lithium 11% -13% -8% 131% 1.26 $2,228,942,652
ESR Estrella Res Ltd 10% -27% -56% -69% 0.011 $15,513,387
SLZ Sultan Resources Ltd 10% -1% -38% -45% 0.099 $8,245,155
EFE Eastern Resources 10% 42% -12% 16% 0.044 $45,185,495
LRV Larvottoresources 10% -2% -17% 0% 0.225 $9,137,150
TKM Trek Metals Ltd 9% -18% -39% -56% 0.06 $18,636,609
CMX Chemxmaterials 9% -5% -26% 0% 0.185 $8,201,572
DRE Dreadnought Resources Ltd 9% -13% 127% 170% 0.1 $304,253,355
GGG Greenland Minerals 9% -25% -33% -62% 0.05 $67,787,201
DRE Dreadnought Resources Ltd 9% -13% 127% 170% 0.1 $304,253,355
PRL Province Resources 9% -5% -5% -45% 0.088 $101,608,410
SUM Summitminerals 9% 6% 0% 0% 0.19 $4,698,235
EMH European Metals Hldg 8% -15% -44% -50% 0.72 $87,373,472
DM1 Desert Metals 8% -3% 39% 60% 0.465 $21,596,318
RNU Renascor Res Ltd 8% -7% -35% 60% 0.2 $423,870,533
STK Strickland Metals 8% -16% -36% -53% 0.041 $56,681,215
GT1 Greentechnology 7% -1% -18% 0% 0.79 $148,775,947
CMO Cosmometalslimited 7% 3% -21% 0% 0.15 $3,826,500
NC1 Nicoresourceslimited 7% -18% -47% 0% 0.63 $55,392,751
AGY Argosy Minerals Ltd 6% -9% 3% 135% 0.505 $676,453,980
CNJ Conico Ltd 6% -56% 32% -59% 0.017 $23,279,490
1VG Victory Goldfields 6% -16% 3% -20% 0.18 $8,951,426
EUR European Lithium Ltd 5% -7% -25% -12% 0.082 $110,618,895
AKE Allkem Limited 5% -2% 10% 71% 14.83 $9,182,276,438
1MC Morella Corporation 5% -21% -35% -65% 0.022 $121,832,672
LKE Lake Resources 5% 12% -48% 78% 1.04 $1,396,923,578
AR3 Austrare 4% 0% -50% -61% 0.355 $32,844,535
AKN Auking Mining Ltd 4% 27% -40% -60% 0.095 $9,469,088
CDT Castle Minerals 4% -19% -55% 67% 0.025 $23,987,832
JRL Jindalee Resources 4% -13% -51% -5% 2.3 $131,971,622
LIT Lithium Australia 4% -7% -50% -54% 0.055 $65,860,733
VRC Volt Resources Ltd 4% 4% 21% -6% 0.029 $96,299,250
TAR Taruga Minerals 3% -6% 35% -37% 0.031 $18,011,830
WC8 Wildcat Resources 3% -18% -6% -42% 0.033 $21,508,500
AAJ Aruma Resources Ltd 3% 3% -52% -19% 0.067 $10,516,421
MMC Mitremining 3% -3% -8% -22% 0.175 $4,739,893
NVA Nova Minerals Ltd 3% -10% -20% -59% 0.7 $128,562,893
AS2 Askarimetalslimited 3% 6% -45% 81% 0.38 $16,599,880
LNR Lanthanein Resources 3% -28% 8% 117% 0.039 $37,550,197
AZL Arizona Lithium Ltd 3% -7% -52% 65% 0.081 $180,744,417
LRS Latin Resources Ltd 3% -15% -49% 144% 0.1025 $193,265,142
LOT Lotus Resources Ltd 2% -4% -43% -18% 0.225 $291,726,721
OZL OZ Minerals 2% 4% -3% 4% 26.14 $8,619,684,754
MEK Meeka Metals Limited 2% -12% 27% 17% 0.061 $64,564,978
CRR Critical Resources 2% -19% -25% 121% 0.062 $89,411,259
ZNC Zenith Minerals Ltd 2% 7% -21% 34% 0.315 $108,600,118
OMH OM Holdings Limited 2% -1% -27% -47% 0.65 $465,332,702
IGO IGO Limited 1% 11% 11% 71% 15.54 $11,412,025,942
KFM Kingfisher Mining 1% -37% 27% 98% 0.405 $17,919,225
NVX Novonix Limited 1% -13% -70% -66% 1.825 $871,157,028
LPD Lepidico Ltd 0% -34% -51% -27% 0.019 $125,061,633
TLG Talga Group Ltd 0% -17% -27% -21% 1.155 $375,461,069
HAS Hastings Tech Met 0% -19% -37% -36% 3.45 $431,189,811
CHN Chalice Mining Ltd 0% -4% -47% -41% 3.84 $1,392,299,618
VIA Viagold Rare Earth 0% 0% 0% 0% 2 $166,624,808
PVW PVW Res Ltd 0% -26% -67% -53% 0.14 $13,023,063
NWC New World Resources 0% -3% -46% -57% 0.031 $55,557,085
HNR Hannans Ltd 0% 0% -36% -38% 0.021 $54,731,701
AVZ AVZ Minerals Ltd 0% 0% -34% 117% 0.78 $2,752,409,203
MAN Mandrake Res Ltd 0% -18% -40% -49% 0.036 $19,241,997
RLC Reedy Lagoon Corp. 0% -7% -58% -46% 0.014 $7,803,977
CLA Celsius Resource Ltd 0% 4% -44% -48% 0.014 $21,039,607
FGR First Graphene Ltd 0% -8% -33% -48% 0.11 $63,369,365
NTU Northern Min Ltd 0% 11% -25% -9% 0.042 $204,140,635
BEM Blackearth Minerals 0% 2% -27% -18% 0.099 $26,510,037
JRV Jervois Global Ltd 0% 13% -40% 4% 0.58 $858,659,293
ADD Adavale Resource Ltd 0% 3% -39% -46% 0.03 $15,251,787
CTM Centaurus Metals Ltd 0% -15% -38% -12% 0.95 $399,344,365
AUZ Australian Mines Ltd 0% -19% -71% -73% 0.065 $30,466,400
FFX Firefinch Ltd 0% 0% -49% -8% 0.2 $236,248,644
EGR Ecograf Limited 0% -15% -44% -50% 0.32 $141,855,040
AQD Ausquest Limited 0% 6% -29% 6% 0.018 $14,852,686
LML Lincoln Minerals 0% 0% 0% 0% 0.008 $4,599,869
MRC Mineral Commodities 0% -21% -29% -50% 0.075 $40,234,993
WKT Walkabout Resources 0% 0% -12% 10% 0.173011 $78,248,343
TON Triton Min Ltd 0% -8% -28% -28% 0.023 $31,804,036
TEM Tempest Minerals 0% -14% -68% 52% 0.032 $16,152,518
TSC Twenty Seven Co. Ltd 0% 0% -29% -52% 0.002 $10,643,256
KOR Korab Resources 0% -8% -15% 55% 0.034 $12,479,700
KGD Kula Gold Limited 0% 80% -20% -26% 0.036 $12,103,629
ENV Enova Mining Limited 0% -22% -30% -30% 0.014 $5,473,011
RR1 Reach Resources Ltd 0% -38% -38% -38% 0.005 $9,550,253
PGD Peregrine Gold 0% -3% 22% 36% 0.585 $22,652,110
THR Thor Mining PLC 0% -14% -44% -44% 0.009 $9,916,186
CLZ Classic Min Ltd 0% -7% -88% -88% 0.017 $7,640,830
OD6 Od6Metalsltd 0% -8% 0% 0% 0.185 $9,127,992
PVW PVW Res Ltd 0% -26% -67% -53% 0.14 $13,023,063
RR1 Reach Resources Ltd 0% -38% -38% -38% 0.005 $9,550,253
GRL Godolphin Resources 0% 5% -37% -41% 0.088 $10,416,511
OD6 Od6Metalsltd 0% -8% 0% 0% 0.185 $9,127,992
ILU Iluka Resources 0% -4% -24% 2% 9.29 $3,888,129,182
ILU Iluka Resources 0% -4% -24% 2% 9.29 $3,888,129,182
NMT Neometals Ltd 0% -17% -39% 13% 1.065 $579,963,833
LYC Lynas Rare Earths -1% -3% -19% 9% 7.57 $6,688,488,066
S32 South32 Limited -1% -3% -27% -2% 3.76 $17,333,009,500
PLL Piedmont Lithium Inc -1% -5% -13% -2% 0.83 $416,780,932
DVP Develop Global Ltd -1% 3% -20% -18% 2.68 $417,718,698
MIN Mineral Resources. -1% 6% 13% 62% 70.19 $13,079,658,276
BHP BHP Group Limited -1% 4% -15% 15% 39.71 $198,022,925,534
M2R Miramar -1% -6% -46% -51% 0.099 $6,354,480
CHR Charger Metals -1% -22% -38% 4% 0.47 $20,494,836
GLN Galan Lithium Ltd -1% -12% -39% 16% 1.205 $360,915,309
LMG Latrobe Magnesium -1% -6% -12% 182% 0.079 $120,881,295
PAM Pan Asia Metals -1% -19% -34% -20% 0.365 $53,602,290
ARL Ardea Resources Ltd -2% 5% -50% 107% 0.93 $157,856,128
ASN Anson Resources Ltd -2% -23% 103% 247% 0.295 $328,939,493
AML Aeon Metals Ltd. -2% -8% -61% -50% 0.0275 $30,069,346
NIC Nickel Industries -2% -15% -40% -23% 0.755 $2,021,142,388
RGL Riversgold -2% 26% -36% 104% 0.048 $34,933,547
AZS Azure Minerals -2% 7% -36% -38% 0.225 $69,915,537
QEM QEM Limited -2% -5% -16% 24% 0.21 $27,807,422
MLS Metals Australia -2% -16% -76% 5% 0.042 $26,102,556
BSX Blackstone Ltd -3% -10% -55% -67% 0.18 $85,180,541
AVL Aust Vanadium Ltd -3% -18% -49% 44% 0.036 $139,605,716
GW1 Greenwing Resources -3% 0% -16% 29% 0.36 $45,433,967
HRE Heavy Rare Earths -3% -15% 0% 0% 0.175 $10,410,388
AX8 Accelerate Resources -3% -8% -48% -23% 0.034 $9,195,603
SCN Scorpion Minerals -3% -15% -14% 10% 0.068 $22,692,021
IPX Iperionx Limited -3% -10% -38% -20% 0.82 $132,940,136
IG6 Internationalgraphit -3% -20% -15% 0% 0.32 $26,076,195
PNN Power Minerals Ltd -3% -33% -46% 20% 0.455 $32,109,880
KAI Kairos Minerals Ltd -3% -28% -6% -9% 0.029 $54,994,618
S2R S2 Resources -3% -7% -18% 59% 0.14 $49,892,480
EMS Eastern Metals -3% 12% -28% 0% 0.14 $5,411,875
RAG Ragnar Metals Ltd -3% -26% -40% -35% 0.028 $10,617,177
A8G Australasian Metals -4% -7% -47% -57% 0.275 $11,321,886
LPI Lithium Pwr Int Ltd -4% -10% -34% 45% 0.55 $207,336,597
AXE Archer Materials -4% -2% -13% -51% 0.79 $191,319,749
EMN Euromanganese -4% -15% -36% -48% 0.255 $69,858,115
BNR Bulletin Res Ltd -4% -7% -43% 79% 0.125 $36,573,888
JMS Jupiter Mines. -4% -5% -26% -23% 0.185 $362,413,341
BRB Breaker Res NL -4% 0% -18% -20% 0.245 $78,201,823
PSC Prospect Res Ltd -4% 4% 123% 322% 0.096 $44,376,908
MNS Magnis Energy Tech -4% -25% -26% 1% 0.345 $329,912,704
RXL Rox Resources -4% -13% -50% -41% 0.23 $38,856,418
BYH Bryah Resources Ltd -4% -21% -59% -55% 0.023 $6,422,830
MNS Magnis Energy Tech -4% -25% -26% 1% 0.345 $329,912,704
PLS Pilbara Min Ltd -4% 9% 69% 140% 4.99 $14,296,881,258
WR1 Winsome Resources -4% 6% -31% 0% 0.34 $45,938,758
SRI Sipa Resources Ltd -4% -12% -17% -23% 0.044 $9,021,091
IMI Infinitymining -4% -10% 19% 0% 0.22 $13,886,125
BCA Black Canyon Limited -4% -15% -55% -20% 0.22 $9,865,344
FG1 Flynngold -5% 0% -38% -30% 0.105 $6,726,410
SYR Syrah Resources -5% -11% 7% 52% 1.675 $1,123,205,939
AZI Altamin Limited -5% -9% -13% -3% 0.08 $31,337,340
FTL Firetail Resources -5% -23% -51% 0% 0.2 $12,356,500
ASO Aston Minerals Ltd -5% -11% -50% -44% 0.078 $86,855,413
CAE Cannindah Resources -5% -14% -51% 3% 0.19 $103,986,947
MLX Metals X Limited -5% 4% -59% -30% 0.285 $249,498,168
ARR American Rare Earths -5% -22% -57% 9% 0.19 $82,210,448
GSM Golden State Mining -5% -21% -58% -72% 0.038 $4,446,540
KZR Kalamazoo Resources -5% -28% -55% -49% 0.19 $27,531,584
LEL Lithenergy -5% -10% 12% 81% 1.12 $67,368,000
MQR Marquee Resource Ltd -5% -20% -55% -23% 0.056 $17,151,349
GBR Greatbould Resources -5% -8% -25% -54% 0.092 $38,904,240
PGM Platina Resources -5% -31% -67% -75% 0.018 $9,738,633
LEG Legend Mining -5% -16% -54% -49% 0.036 $99,184,886
MRR Minrex Resources Ltd -5% -4% -27% 200% 0.054 $56,327,229
ODE Odessa Minerals Ltd -5% -22% -5% 260% 0.018 $9,131,569
MCR Mincor Resources NL -5% -18% -38% 14% 1.59 $751,840,391
BKT Black Rock Mining -6% -24% -38% -24% 0.16 $151,484,470
STM Sunstone Metals Ltd -6% -20% -54% -46% 0.032 $83,086,285
CZN Corazon Ltd -6% -17% -55% -61% 0.015 $9,154,958
DEV Devex Resources Ltd -6% -17% -40% -5% 0.3 $107,865,485
VML Vital Metals Limited -6% -21% -55% -48% 0.03 $156,713,116
RBX Resource B -6% -8% -63% -54% 0.09 $3,687,885
GRE Greentechmetals -6% -21% -36% 0% 0.15 $4,692,000
RBX Resource B -6% -8% -63% -54% 0.09 $3,687,885
EMT Emetals Limited -6% -6% 7% -17% 0.015 $12,750,000
VML Vital Metals Limited -6% -21% -55% -48% 0.03 $156,713,116
EMT Emetals Limited -6% -6% 7% -17% 0.015 $12,750,000
RBX Resource B -6% -8% -63% -54% 0.09 $3,687,885
ARU Arafura Resource Ltd -6% -21% -27% 29% 0.29 $482,880,038
ESS Essential Metals Ltd -6% 1% -8% 140% 0.505 $120,455,901
SYA Sayona Mining Ltd -7% -26% -37% 39% 0.215 $1,786,758,162
GED Golden Deeps -7% 0% -22% 8% 0.014 $13,862,721
IPT Impact Minerals -7% -7% -48% -52% 0.007 $17,369,594
VMC Venus Metals Cor Ltd -7% -20% -30% -24% 0.14 $22,411,016
PTR Petratherm Ltd -7% 1% 8% 25% 0.07 $15,732,580
RDT Red Dirt Metals Ltd -7% -25% -8% -26% 0.555 $180,937,724
OCN Oceanalithiumlimited -7% -27% 0% 0% 0.48 $15,756,750
G88 Golden Mile Res Ltd -7% -21% -61% -46% 0.026 $5,319,334
WMG Western Mines -7% -4% -55% -33% 0.13 $4,762,225
SRZ Stellar Resources -7% -13% -57% -61% 0.013 $13,060,202
G88 Golden Mile Res Ltd -7% -21% -61% -46% 0.026 $5,319,334
ITM Itech Minerals Ltd -7% -22% -36% 0% 0.325 $29,066,667
TNG TNG Limited -7% -28% 0% 10% 0.09 $124,957,640
RFR Rafaella Resources -7% 0% -16% -51% 0.038 $13,360,506
MOH Moho Resources -7% -31% -55% -59% 0.025 $5,191,555
COB Cobalt Blue Ltd -7% -19% -26% 76% 0.685 $226,464,656
AOU Auroch Minerals Ltd -8% -22% -53% -65% 0.061 $22,637,820
SBR Sabre Resources -8% 0% -14% 9% 0.006 $17,489,136
PUR Pursuit Minerals -8% -14% -59% -67% 0.012 $11,978,150
MTM Mtmongerresources -8% -14% -37% -20% 0.12 $4,501,204
VMS Venture Minerals -8% -12% -61% -55% 0.023 $38,581,525
REE Rarex Limited -8% -16% -47% -44% 0.056 $32,445,648
ASM Ausstratmaterials -8% -29% -74% -83% 1.9 $264,468,715
ASM Ausstratmaterials -8% -29% -74% -83% 1.9 $264,468,715
LSR Lodestar Minerals -8% -15% -66% -50% 0.0055 $9,561,405
CML Chase Mining Limited -8% -15% -23% -32% 0.011 $5,149,460
CWX Carawine Resources -8% -13% -59% -57% 0.087 $11,991,588
IXR Ionic Rare Earths -9% -7% -45% 14% 0.042 $166,522,012
HXG Hexagon Energy -9% -12% -68% -82% 0.015 $7,693,739
ENT Enterprise Metals -9% -17% -55% -23% 0.01 $6,529,807
WIN Widgienickellimited -9% -20% -47% 17% 0.245 $61,498,143
AM7 Arcadia Minerals -9% 4% 7% 45% 0.29 $13,542,389
TMT Technology Metals -9% 15% -15% 4% 0.385 $80,782,454
RAS Ragusa Minerals Ltd -10% 12% 217% 128% 0.285 $36,028,472
ABX ABX Group Limited -10% -10% -22% 27% 0.14 $32,420,668
VUL Vulcan Energy -10% -21% -30% -46% 6.29 $901,579,043
IDA Indiana Resources -10% -22% -24% -5% 0.052 $25,157,851
EVR Ev Resources Ltd -11% -19% -60% -24% 0.025 $23,149,602
PAN Panoramic Resources -11% -22% -54% -30% 0.16 $317,891,671
SHH Shree Minerals Ltd -11% -20% -50% -27% 0.008 $9,907,895
GAL Galileo Mining Ltd -12% -6% 471% 380% 1.2 $232,941,747
INR Ioneer Ltd -12% -20% -24% -15% 0.5425 $1,112,011,060
BMM Balkanminingandmin -12% -13% -30% -63% 0.26 $11,182,797
BOA Boadicea Resources -12% -21% -45% -37% 0.11 $8,546,988
PNT Panthermetalsltd -12% -5% -31% 0% 0.18 $5,490,000
GSR Greenstone Resources -13% -58% -22% 0% 0.028 $28,505,357
TMB Tambourahmetals -13% -18% -48% -30% 0.14 $5,766,964
AOA Ausmon Resorces -13% -13% -36% 0% 0.007 $6,001,025
AVW Avira Resources Ltd -13% -22% -42% -42% 0.0035 $7,415,765
AOA Ausmon Resorces -13% -13% -36% 0% 0.007 $6,001,025
ATM Aneka Tambang -13% -13% -16% -7% 1 $1,303,649
SRL Sunrise -13% -28% -35% 15% 2.07 $186,419,810
FRS Forrestaniaresources -14% -20% -46% -54% 0.185 $7,920,091
KTA Krakatoa Resources -14% -10% -50% -6% 0.06 $20,682,595
NKL Nickelxltd -15% 8% -3% -3% 0.14 $9,936,000
RMX Red Mount Min Ltd -17% -17% -44% -50% 0.005 $8,211,819
KOB Kobaresourceslimited -17% -33% 0% 0% 0.1 $6,500,000
RMX Red Mount Min Ltd -17% -17% -44% -50% 0.005 $8,211,819
M24 Mamba Exploration -17% -27% -11% -35% 0.12 $5,061,000
GME GME Resources Ltd -17% -22% -27% 36% 0.095 $60,040,102
VR8 Vanadium Resources -17% -19% -28% -5% 0.076 $36,087,640
QXR Qx Resources Limited -18% 129% -8% 294% 0.071 $59,084,776
LIN Lindian Resources -21% -18% 576% 619% 0.23 $199,509,921
ALY Alchemy Resource Ltd -21% 13% 44% 100% 0.026 $29,326,906
MRD Mount Ridley Mines -21% -8% -45% -21% 0.0055 $32,761,149
WC1 Westcobarmetals -21% 0% 69% 2% 0.22 $6,765,017
CAI Calidus Resources -24% -35% -65% -41% 0.36 $153,223,597
WCN White Cliff Min Ltd -28% -28% -45% 50% 0.018 $13,456,861
NWM Norwest Minerals -32% -40% -53% -67% 0.028 $6,219,007
WML Woomera Mining Ltd -39% -22% -46% -29% 0.014 $9,615,663
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Weekly Top Stocks

ELEMENT 25 (ASX:E25)

On October 11, E25 announced that a feasibility study into the production of high purity battery grade manganese sulphate monohydrate (HPMSM) for battery markets is on schedule for December 2022 delivery.

The manganese miner, which looks to have overcome early problems at the Butcherbird manganese mine in the Pilbara, is shifting its focus to the emerging battery market.

While manganese is mostly used in steel applications, EV batteries are trending toward higher manganese content to make them safer and more cost-effective, the company says.

Using its own tech, E25 wants to build a bunch of HPMSM plants in major locations around the world, such as Malaysia and the US.

The $165m market cap company has also been engaged in “constructive discussions” with several potential offtake partners in relation to the supply of HPMSM, it says.

“Counterparties to these discussions, aimed at securing binding supply agreements with high quality project partners, have included electric vehicle OEMs as well as established cathode and precursor material manufacturers.

“The discussions have also been focussed on combining offtake, pricing, and finance outcomes to bring certainty to project delivery and, in turn, provide supply and pricing certainty to customers.

“These discussions are progressing well and in line with stated project timelines, the company anticipates being in a position to announce binding agreement(s) in the near future.”
 

E25 share price chart

 

ST GEORGE MINING (ASX:SGQ)

There’s lithium in those Mt Alexander nickel tenements in WA, says small cap explorer SGQ, which has picked up rock chips grading up to 2.7% lithium.

These high-grade lithium results occur within several stacked pegmatite dykes in a north-south zone up to 1.7km long and 1.4km wide, named the Jailbreak prospect.

Field mapping is continuing at Jailbreak where multiple pegmatite outcrops with visual lithium-bearing minerals are now identified up to 1km west of current assay results.

Jailbreak is part of a wider 15km north-south LCT corridor within the project area.

Maiden lithium drilling is scheduled to commence in late October/early November, SGQ says.
 

SGQ share price chart

 

PEAK RARE EARTHS (ASX:PEK)

PEK’s focus is the NdPr-rich Ngualla rare earths project in Tanzania and refinery in the UK.

There is the expectation that demand for magnet rare earths, the main two being neodymium and praseodymium (NdPr), will increase rapidly alongside growth in the EV and wind power sectors.

PEK’s vertically integrated project is currently the subject of a BFS update – the most advanced of all project studies – which should be released imminently, the company says.

“It is expected that the BFS Update will be finalised and announced during the next 6-8 weeks, together with an update on the status of negotiations on a Framework Agreement and potential offtake marketing arrangements,” the company said August 31.

(Do the maths, it’s coming very soon.)

In February, Chinese rare earth company Shenghe Resources acquired a 19.9% interest in PEK at A$0.99 per share: a 24.5% premium to the last closing price.
 

PEK share price chart


QUEENSLAND PACIFIC METALS (ASX:QPM)

QPM will ink a long term collab deal with another top carmaker in General Motors, which includes a material $108m investment and long-term offtake agreement.

As part of the initial investment, GM will subscribe for $31m worth of shares in QPM at 18c per share — a premium of 20% to the last closing price.

GM can also purchase all uncommitted nickel and cobalt sulphate produced in the first 15 years of Phase 1 of QPM’s flagship TECH Project in QLD, being 6,000tpa nickel and 800tpa cobalt.

The remainder is already accounted for under deals with POSCO (3,000tpa nickel, 300tpa cobalt) and LGES (7,000tpa nickel, 700tpa cobalt).

GM then has the option to purchase 100% of nickel and cobalt sulphate under a Phase 2 expansion.

“The collaboration with Queensland Pacific Metals will provide GM with a secure, cost-competitive and long-term supply of nickel and cobalt from a free-trade agreement partner to help support our fast-growing EV production needs,” says Jeff Morrison, GM’s vice president of global purchasing and supply chains.

A project Definitive Feasibility Study (DFS) remains on track for completion before the end of the year.

READ: ‘They are desperate for nickel’ — QPM’s Stephen Grocott on the impending battery supply chain trainwreck
 

QPM share price chart

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