• Aussie-listed lithium pure plays Pilbara Minerals (ASX:PLS) and Allkem (ASX:AKE) are down 40% and 10%, respectively, year-to-date
  • Both are pulling in record revenues
  • Meanwhile, lithium contract prices are still rising

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

 

It’s all in the headline and it is old news, but bears repeating.

Aussie-listed lithium pure plays Pilbara Minerals (ASX:PLS) and Allkem (ASX:AKE) are down 40% and 10%, respectively, year-to-date.

PLS was pulling in US$2,650/t for its spodumene in the March quarter – generating operating cashflow of $113.9m — “with battery grade chemical pricing suggesting another significant step-up in the offtake concentrate sales price during the June Quarter”.

The stuff it is selling onto the spot market is attracting record prices over US$5,650/t.

Meanwhile, costs per tonne were sitting around US$350/t (FOB Port Hedland) at the start of the year.

Huge profits.

AKE is currently pulling in $US40,000/t – about 14% above guidance – for lithium carbonate from its ‘Olaroz’ project, and ~US$5,000/t for its Australian spodumene.

It enjoyed an 84% cash margin on spod sales in the March quarter. Imagine that.

Both companies are cashed up; PLS with $284.9m and the end of March, AKE with closer to $US500m.
 

PLS and AKE share price charts


 

More good news: lithium contract prices are still rising

While red hot Chinese spot prices get all the headlines, a large portion of the market is under long term fixed price and variable price contracts.

Most of AKE and PLS’ sales are under contract.

These prices have generally lagged spot and are still rising.

Of course, there are plenty of macro unknowns right now – a weak Chinese economy, war, recession fears – which could impact on lithium demand.

Even so, lithium prices are unlikely to crash in 2023 and 2024, according to Benchmark’s Lithium Forecast.

“Benchmark’s view is that contract prices are likely to continue to rise as a lagged effect of the major step-change in spot pricing over late 2021 and 2022 while spot prices will fall, with the two prices coming into more of an equilibrium than they are now,” it says.

READ: Goldman Sachs is wrong about oversupply and lithium miners look cheap, experts say

 

Battery Metals Winners and Losers

Here’s how a basket of ASX stocks 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]. Be nice, he’s fragile.

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICES MARKET CAP
GRE Greentechmetals 53% 35% 0% 0% 0.23 $7,350,799.77
LPM Lithium Plus 20% -37% 0% 0% 0.395 $16,954,916.00
CMO Cosmometalslimited 15% 11% 0% 0% 0.15 $3,571,400.00
IPX Iperionx Limited 8% -7% -4% -16% 0.82 $114,335,120.17
CML Chase Mining Limited 7% 25% 7% -12% 0.015 $8,426,389.70
GAL Galileo Mining Ltd 6% 32% 641% 463% 1.52 $275,364,720.40
RBX Resource B 4% -29% -33% 297% 0.135 $5,901,151.86
NVA Nova Minerals Ltd 4% -9% -43% -58% 0.585 $102,715,302.45
AR3 Austrare 3% -17% -55% 0% 0.37 $35,700,582.00
LYC Lynas Rare Earths 2% -10% -3% 57% 8.7 $7,571,232,938.06
GBR Greatbould Resources 1% -30% -48% -19% 0.07 $30,446,796.46
PSC Prospect Res Ltd 1% 2% 36% 422% 0.965 $432,296,591.33
VIA Viagold Rare Earth 0% 0% 0% 2339% 2 $166,624,808.00
HNR Hannans Ltd 0% -19% -34% 183% 0.021 $54,731,701.00
MRD Mount Ridley Mines 0% -38% -33% -17% 0.005 $32,213,656.41
AVZ AVZ Minerals Ltd 0% 0% 13% 373% 0.78 $2,752,409,203.44
NTU Northern Min Ltd 0% -7% -22% 11% 0.039 $179,810,983.06
SYA Sayona Mining Ltd 0% -50% 22% 116% 0.14 $1,071,522,420.28
ATM Aneka Tambang 0% 0% 15% 25% 1.25 $1,629,561.25
LML Lincoln Minerals 0% 0% 0% 0% 0.008 $4,599,869.49
WKT Walkabout Resources 0% 0% 15% 10% 0.215 $97,239,149.08
BOA Boadicea Resources 0% -9% -20% -35% 0.16 $11,654,984.25
SHH Shree Minerals Ltd 0% -24% -11% -36% 0.008 $9,777,895.14
KOR Korab Resources 0% -20% -53% 85% 0.024 $8,809,200.00
AZI Altamin Limited 0% -1% 48% 20% 0.095 $37,213,091.44
ENV Enova Mining Limited 0% -11% -27% -30% 0.016 $5,875,440.99
RR1 Reach Resources Ltd 0% -33% -43% -50% 0.004 $9,550,253.20
AVW Avira Resources Ltd 0% 0% -20% -33% 0.004 $8,475,160.00
AZI Altamin Limited 0% -1% 48% 20% 0.095 $37,213,091.44
CLZ Classic Min Ltd 0% 0% 0% 0% 0.001 $31,024,646.55
OMH OM Holdings Limited -1% -5% -3% -7% 0.81 $598,284,902.97
RAS Ragusa Minerals Ltd -1% 9% 18% 18% 0.087 $10,813,309.42
PRL Province Resources -2% -34% -61% -58% 0.057 $62,000,803.28
BNR Bulletin Res Ltd -2% -32% 101% 94% 0.1325 $34,810,932.00
GSR Greenstone Resources -2% 11% 85% 150% 0.05 $51,247,684.45
PAM Pan Asia Metals -2% -6% 1% 217% 0.46 $33,514,683.02
QEM QEM Limited -3% -1% 8% 11% 0.195 $23,717,881.59
SRI Sipa Resources Ltd -3% -5% -10% -30% 0.038 $7,380,892.91
AVL Aust Vanadium Ltd -3% -30% 21% 75% 0.035 $133,576,041.67
KFM Kingfisher Mining -4% 8% 59% 38% 0.27 $9,759,825.29
AQD Ausquest Limited -4% 15% 28% 5% 0.023 $20,628,730.58
AAJ Aruma Resources Ltd -4% -17% -4% 3% 0.067 $10,516,420.70
IXR Ionic Rare Earths -5% -24% 0% 71% 0.041 $151,031,591.88
PUR Pursuit Minerals -5% -18% -36% -75% 0.018 $16,121,086.30
PNT Panthermetalsltd -5% -23% -5% 0% 0.18 $5,220,000.00
PLL Piedmont Lithium Inc -5% -18% -5% -22% 0.7 $366,661,706.00
RLC Reedy Lagoon Corp. -6% -37% -41% -6% 0.017 $9,476,257.50
1MC Morella Corporation -6% -39% 70% -73% 0.017 $82,819,423.78
VMC Venus Metals Cor Ltd -6% -9% -3% -9% 0.16 $24,172,589.28
PLS Pilbara Min Ltd -6% -26% -24% 51% 2.11 $6,072,770,703.36
AKE Allkem Limited -7% -23% 10% 70% 10.095 $6,249,049,242.80
GED Golden Deeps -7% -32% 18% 0% 0.013 $16,173,174.00
CWX Carawine Resources -7% -7% -26% -43% 0.13 $17,229,293.38
MRR Minrex Resources Ltd -8% -33% 6% 85% 0.037 $33,287,611.80
MMC Mitremining -8% -17% -38% 0% 0.12 $3,250,212.00
IGO IGO Limited -8% -10% -3% 47% 10.5 $7,822,576,508.29
JRL Jindalee Resources -8% -22% 33% 6% 2.8 $163,530,053.10
VRC Volt Resources Ltd -8% -21% -39% -53% 0.0165 $51,305,820.43
RMX Red Mount Min Ltd -8% -31% -39% -50% 0.0055 $8,211,819.29
CNJ Conico Ltd -8% -5% -21% 3% 0.0275 $39,389,797.35
VML Vital Metals Limited -9% -14% -14% -13% 0.042 $170,989,806.44
ASN Anson Resources Ltd -9% -9% 0% 64% 0.105 $102,791,233.50
CNB Carnaby Resource Ltd -9% -31% 66% 125% 0.73 $104,083,843.68
CAI Calidus Resources -9% -28% 5% 33% 0.625 $254,030,904.54
SCN Scorpion Minerals -9% -28% -3% 20% 0.072 $23,891,845.82
STK Strickland Metals -9% -24% -6% 39% 0.061 $81,991,338.69
FRS Forrestaniaresources -9% -37% -43% 0% 0.145 $3,652,844.52
LTR Liontown Resources -9% -23% -35% 69% 1.01 $2,225,108,575.97
GLN Galan Lithium Ltd -10% -25% -38% 48% 1.08 $325,707,317.34
NIC Nickel Industries -10% -18% -21% 3% 1.0525 $2,717,617,129.52
IMI Infinitymining -10% -13% 0% 0% 0.14 $8,050,000.00
HAS Hastings Tech Met -10% -20% -14% 38% 0.2075 $426,078,504.39
COB Cobalt Blue Ltd -10% -26% 71% 103% 0.64 $191,110,380.02
TLG Talga Group Ltd -10% -16% -24% -22% 1.14 $343,096,333.88
SBR Sabre Resources -10% -10% 0% -10% 0.0045 $13,948,655.04
WML Woomera Mining Ltd -10% -14% 13% -9% 0.018 $12,362,995.19
KGD Kula Gold Limited -10% -18% -36% -34% 0.027 $5,379,390.80
RGL Riversgold -10% -38% 110% -18% 0.0305 $20,422,151.97
LRV Larvottoresources -10% -32% 54% 0% 0.215 $9,552,475.00
SRZ Stellar Resources -11% -29% -26% -32% 0.017 $14,268,144.64
TMT Technology Metals -11% -8% 14% 3% 0.335 $66,094,735.46
INF Infinity Lithium -11% -7% -22% 47% 0.125 $51,876,633.25
LPD Lepidico Ltd -11% -14% -31% 108% 0.025 $162,679,288.33
PEK Peak Rare Earths Ltd -11% -18% -52% -66% 0.375 $80,865,929.43
RFR Rafaella Resources -11% -20% -49% -64% 0.033 $8,387,726.94
FGR First Graphene Ltd -11% -23% -44% -50% 0.12 $70,004,222.00
ADV Ardiden Ltd -11% -33% -27% 7% 0.008 $21,346,682.85
BMM Balkanminingandmin -11% -26% -43% 0% 0.2 $6,222,500.00
EFE Eastern Resources -11% -38% -56% 85% 0.024 $22,872,042.51
AS2 Askarimetalslimited -11% -47% 65% 0% 0.28 $11,022,481.55
WCN White Cliff Min Ltd -11% -24% -6% 23% 0.016 $10,457,653.79
CTM Centaurus Metals Ltd -11% -18% -18% 30% 0.95 $399,344,365.26
LRS Latin Resources Ltd -11% -55% 110% 29% 0.063 $115,803,824.28
LMG Latrobe Magnesium -11% -24% -36% 244% 0.055 $84,995,652.20
BRB Breaker Res NL -11% -15% -33% 18% 0.195 $63,538,981.16
JMS Jupiter Mines. -11% -9% -7% -35% 0.195 $372,208,296.27
PGD Peregrine Gold -11% -20% -8% 13% 0.39 $14,931,800.91
PGM Platina Resources -11% -16% -44% -62% 0.031 $13,465,852.60
RNU Renascor Res Ltd -11% -37% 35% 107% 0.155 $323,135,029.65
OZL OZ Minerals -11% -8% -22% -7% 21 $6,631,299,222.59
BHP BHP Group Limited -12% -3% 12% -1% 40.85 $203,809,131,629.40
AZS Azure Minerals -12% -12% -24% -4% 0.255 $80,791,287.46
REE Rarex Limited -12% -28% -40% -26% 0.058 $32,074,146.01
SRL Sunrise -12% -19% 41% 31% 2.46 $220,641,803.55
CAE Cannindah Resources -12% -31% 3% 195% 0.18 $96,073,573.32
INR Ioneer Ltd -13% -29% -49% 18% 0.385 $773,780,785.40
TKL Traka Resources -13% -13% -42% -56% 0.007 $5,510,196.49
IPT Impact Minerals -13% -30% -44% -52% 0.007 $19,850,964.45
VR8 Vanadium Resources -13% -24% 19% 41% 0.076 $35,039,915.68
NMT Neometals Ltd -13% -30% -13% 87% 0.925 $501,764,402.34
MNS Magnis Energy Tech -13% -26% -33% 11% 0.3 $289,945,598.70
BSX Blackstone Ltd -13% -34% -64% -41% 0.2 $89,575,037.35
MNS Magnis Energy Tech -13% -26% -33% 11% 0.3 $289,945,598.70
WIN Widgienickellimited -13% -30% 29% 0% 0.265 $66,303,000.00
MRC Mineral Commodities -13% -28% -12% -57% 0.086 $46,009,194.52
BYH Bryah Resources Ltd -13% -27% -31% -51% 0.033 $7,917,251.13
RAG Ragnar Metals Ltd -13% -9% 30% 26% 0.039 $15,167,395.56
TEM Tempest Minerals -13% -39% 70% 108% 0.039 $18,171,582.34
AKN Auking Mining Ltd -13% -29% -37% -49% 0.078 $7,593,820.00
S32 South32 Limited -14% -12% 5% 49% 4.15 $18,822,376,925.80
KAI Kairos Minerals Ltd -14% -30% -27% -44% 0.019 $39,241,869.82
CZL Cons Zinc Ltd -14% -17% -32% -49% 0.019 $7,267,156.26
LOT Lotus Resources Ltd -14% -20% -19% 29% 0.22 $205,556,507.31
LPI Lithium Pwr Int Ltd -14% -37% -5% 100% 0.37 $130,929,318.00
VUL Vulcan Energy -14% -26% -51% -32% 5.52 $712,199,936.90
CHR Charger Metals -14% -32% 4% 0% 0.39 $12,706,603.65
NKL Nickelxltd -14% -33% 9% -25% 0.12 $7,141,500.00
LSR Lodestar Minerals -14% -40% -29% -33% 0.006 $12,169,061.44
TSC Twenty Seven Co. Ltd -14% -25% -25% -25% 0.003 $7,982,441.72
AOA Ausmon Resorces -14% -25% 0% 0% 0.006 $5,143,736.06
ODE Odessa Minerals Ltd -14% -29% 140% 200% 0.012 $5,908,662.19
MIN Mineral Resources. -14% -19% -1% -4% 48.68 $9,140,313,208.77
ILU Iluka Resources -14% -14% -10% 12% 8.95 $3,703,584,182.31
ARR American Rare Earths -15% -33% 36% 190% 0.235 $91,012,135.28
LIT Lithium Australia -15% -20% -34% -37% 0.069 $72,478,368.97
AML Aeon Metals Ltd. -15% -36% -44% -71% 0.023 $20,813,757.78
EMN Euromanganese -15% -28% -45% -58% 0.23 $58,942,729.51
SYR Syrah Resources -15% -38% -9% 17% 1.155 $756,470,374.17
MOH Moho Resources -15% -20% -53% -59% 0.028 $4,310,843.30
AX8 Accelerate Resources -15% -24% -24% -24% 0.028 $8,167,225.87
GL1 Globallith -15% -32% 98% 371% 1.2 $188,057,433.36
PNN Power Minerals Ltd -15% -32% 0% 47% 0.39 $24,601,398.40
AM7 Arcadia Minerals -15% -17% 0% 0% 0.195 $8,872,599.48
LEG Legend Mining -15% -31% -9% -55% 0.05 $137,756,786.05
CZN Corazon Ltd -15% -27% -30% -34% 0.022 $14,037,602.81
ENT Enterprise Metals -15% -27% -21% -42% 0.011 $7,091,115.41
MAN Mandrake Res Ltd -16% -25% -12% -79% 0.038 $18,300,991.91
GT1 Greentechnology -16% -17% 99% 0% 0.705 $109,693,240.00
TNG TNG Limited -16% -22% -30% -14% 0.054 $81,916,675.10
WC8 Wildcat Resources -16% -21% -45% 4% 0.027 $19,358,181.81
GW1 Greenwing Resources -16% -35% -40% -14% 0.215 $28,346,890.27
IG6 Internationalgraphit -16% 0% 0% 0% 0.295 $24,446,432.40
AUZ Australian Mines Ltd -16% -45% -63% -68% 0.074 $37,927,592.02
FTL Firetail Resources -16% -11% 0% 0% 0.29 $16,990,187.50
BKT Black Rock Mining -16% -23% -30% 0% 0.155 $146,588,346.90
AZL Arizona Lithium Ltd -16% -41% 8% 229% 0.092 $207,642,886.72
PAN Panoramic Resources -17% -21% -18% 47% 0.2125 $420,437,370.82
FFX Firefinch Ltd -17% -76% -67% -53% 0.225 $265,779,724.73
ALY Alchemy Resource Ltd -17% -46% 36% 10% 0.015 $14,296,110.86
EMS Eastern Metals -17% -42% -38% 0% 0.125 $4,450,000.00
CRR Critical Resources -17% -47% 18% 55% 0.045 $66,960,685.76
LNR Lanthanein Resources -17% -46% -21% 11% 0.015 $13,405,209.12
AGY Argosy Minerals Ltd -17% -21% 19% 223% 0.32 $427,133,250.81
PVW PVW Res Ltd -17% -32% -44% 33% 0.22 $21,860,140.63
ARN Aldoro Resources -17% -34% -62% -55% 0.145 $14,385,970.41
FRB Firebird Metals -17% -16% -26% -52% 0.29 $15,746,342.40
ARL Ardea Resources Ltd -17% -28% 78% 59% 0.845 $144,277,106.20
KTA Krakatoa Resources -17% -30% 18% 0% 0.053 $18,269,625.60
MLX Metals X Limited -17% -28% -23% 47% 0.36 $340,224,775.13
GSM Golden State Mining -17% -39% -49% -72% 0.043 $5,180,748.70
ESR Estrella Res Ltd -17% -32% -5% -63% 0.019 $22,812,949.26
E25 Element 25 Ltd -17% -32% -62% -78% 0.475 $76,355,184.50
NWC New World Resources -18% -23% -49% -61% 0.033 $51,100,890.30
GME GME Resources Ltd -18% -14% 74% 87% 0.099 $58,805,085.44
POS Poseidon Nick Ltd -18% -33% -53% -38% 0.047 $134,814,219.14
A8G Australasian Metals -18% -42% -60% 27% 0.21 $8,234,098.80
BEM Blackearth Minerals -18% -33% -36% -29% 0.07 $18,383,543.10
ARU Arafura Resource Ltd -18% -22% 67% 82% 0.3 $458,469,037.94
AXE Archer Materials -18% -18% -45% -23% 0.595 $151,564,996.27
QPM Queensland Pacific -18% -40% -36% -34% 0.1025 $156,361,313.10
ADD Adavale Resource Ltd -18% -16% -34% -68% 0.027 $9,647,844.85
CXO Core Lithium -18% -25% 106% 324% 1.0175 $1,862,279,608.30
HXG Hexagon Energy -19% -24% -67% -71% 0.022 $11,797,065.72
BUX Buxton Resources Ltd -19% -28% -16% -31% 0.066 $10,062,207.49
TON Triton Min Ltd -19% -19% -31% -35% 0.022 $27,693,251.89
ESS Essential Metals Ltd -19% -36% 106% 254% 0.35 $85,038,161.63
AOU Auroch Minerals Ltd -19% -21% -39% -53% 0.07 $24,753,270.53
RXL Rox Resources -19% -28% -31% -41% 0.24 $43,079,941.49
KZR Kalamazoo Resources -19% -35% -38% -45% 0.2275 $33,394,706.02
FG1 Flynngold -19% -28% -32% -30% 0.105 $7,687,326.00
MLS Metals Australia -19% -56% 53% 15% 0.046 $24,289,664.79
EVR Ev Resources Ltd -19% -44% -51% 9% 0.025 $24,075,585.85
EUR European Lithium Ltd -19% -33% -49% -10% 0.054 $74,677,336.34
TMB Tambourahmetals -19% -34% -36% 0% 0.145 $5,766,963.72
KOB Kobaresourceslimited -19% -22% 0% 0% 0.145 $9,750,000.00
G88 Golden Mile Res Ltd -20% -27% -22% -26% 0.04 $7,741,839.33
SLZ Sultan Resources Ltd -20% -35% -41% -52% 0.1 $8,328,438.90
NWM Norwest Minerals -20% -39% -56% -66% 0.028 $5,237,614.22
G88 Golden Mile Res Ltd -20% -27% -22% -26% 0.04 $7,741,839.33
DTM Dart Mining NL -22% -30% -39% -64% 0.051 $7,845,089.28
LEL Lithenergy -22% -43% 4% 93% 0.705 $32,508,000.00
QXR Qx Resources Limited -22% -48% 39% 67% 0.025 $20,624,695.70
CHN Chalice Mining Ltd -22% -43% -54% -44% 3.85 $1,379,155,923.11
ZNC Zenith Minerals Ltd -22% -21% 33% 24% 0.285 $92,854,121.85
MQR Marquee Resource Ltd -22% -39% -42% 14% 0.064 $19,340,806.07
EMH European Metals Hldg -22% -34% -51% -57% 0.655 $93,616,681.73
EMT Emetals Limited -23% -20% -44% -55% 0.01 $9,350,000.00
SGQ St George Min Ltd -23% -15% -46% -58% 0.033 $22,973,664.58
JRV Jervois Global Ltd -23% -43% -7% 2% 0.51 $752,276,725.70
LKE Lake Resources -24% -29% 22% 251% 1.07 $1,824,460,018.09
CMX Chemxmaterials -24% -36% 0% 0% 0.145 $7,646,223.92
WMG Western Mines -24% -36% -13% 0% 0.14 $5,128,550.00
NC1 Nicoresourceslimited -25% -35% 0% 0% 0.755 $61,511,251.41
S2R S2 Resources -25% -27% -21% 0% 0.135 $48,110,605.43
THR Thor Mining PLC -25% -31% -36% -50% 0.009 $10,139,359.24
STM Sunstone Metals Ltd -25% -32% -57% 171% 0.038 $97,828,963.88
CLA Celsius Resource Ltd -26% -30% -26% -56% 0.014 $15,879,054.98
MCR Mincor Resources NL -27% -39% 4% 54% 1.535 $774,987,355.20
DEV Devex Resources Ltd -29% -37% -52% -36% 0.235 $78,545,992.25
MTM Mtmongerresources -30% -32% -22% 0% 0.105 $3,807,303.47
EGR Ecograf Limited -30% -33% -56% -50% 0.275 $123,841,701.23
WR1 Winsome Resources -33% -52% -22% 0% 0.21 $27,698,368.77
ASO Aston Minerals Ltd -38% -47% -27% -50% 0.077 $90,848,929.69
Wordpress Table Plugin