• Gina Rinehart’s Hancock Prospecting throws another $152m at Liontown in Ablemarle blocking move
  • Could drooping lithium prices burst the DSO bubble? 

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

 

From what we’re seeing, there remains plenty to be excited about when it comes to the growing array of lithium stocks on the ASX and beyond.

And the huge, competitive interest in Liontown Resources (ASX:LTR) from big mining cats Albemarle and Hancock is certainly one quick way to give that statement some affirmation. More on that further below.

(Also… READ: Lithium juniors are like Pokemon right now, but can the majors catch them all)

That said, short and perhaps mid-term, the road ahead is hardly without potholes for the growing list of companies involved in the white gold rush of the past couple of years.

A high level of short-term uncertainty is a by-product of the commodity’s recent low pricing. And that’s directly tied to concerns around what is reportedly right now a weakened level of demand for electric vehicles in China – by far the world’s biggest market for such things, and many other things besides.

As noted by Stockhead resources expert Josh Chiat in this week’s Up, Up, Down, Down resources market September performance overview (although not in these specific words), the latest monthly lithium price action right now looks shakier than a newborn foal on a Tasman Sea barge.

Specifically, the monthly average spot price for September was US$27,810/t (-25.6%), while at the time of writing, October is looking more festering than festive at this stage, with a spot level of US$25,100/t.

It’s a far cry, notes Josh, from the record highs of +US$80k/t that were frothed over at the start of 2023.

Bloomberg, too, noted yesterday:

“The slump has hammered lithium producers too, with the Sprott Lithium Miners ETF tumbling to the weakest since its inception in February, and Global X Lithium & Battery Tech ETF plunging to the lowest since 2020.”

The media outlet also posted this stark chart:

Source: Bloomberg

Just a week or so ago, Macquarie Research was pondering a potential uptick in Chinese EV sales based around national holidays in the Middle Kingdom.

It wasn’t to be. Q4 is historically the time for EV sales to pick up, but huge, ongoing economic uncertainty in China is still the driving (yeah, not the best choice of words) force for the moment.

Gloomier still, Goldman Sachs analysts see lithium carbonate prices falling even further over the next 12 months:

“For the rest of the year, the fundamental focus appears to be on a seasonal uptick in Chinese EV sales, and we think any disappointment relative to historical norms could put accelerated downward pressure on prices,” they wrote in a recent note.

But wait… bones to be thrown? Silvery linings? There are some here, yes. Chiefly the good old “buying opportunity” lining so favoured by the crypto market.

There’s quite a large degree of hopium attached to the latter, however, while the battery metals market is, of course, based on things that are more recognisably tangible. Such as rocks and minerals. And batteries. And actual real-world cars that you can apparently drive – while hopefully not running over the hard-of-hearing in the process.

Josh reckons that: “Despite a massive 25% drop in lithium chemical pricing in September, M & A activity continues virtually unabated.

“In one sense lower equity valuations for lithium stocks based on the price drop could open the potential for even more takeover action. 

“And companies remain less than shy about meeting target aspirations when it comes to price.”

Meanwhile, demand growth over the next decade should support long-term prices, believes Wilsons Advisory, and BloombergNEF says it expects “global demand for lithium to grow nearly five times by the end of the decade”.

But wait, anything else to be slightly concerned about?

 

A DSO operations spanner in the works?

It remains to be seen if/or how many, lithium producers making DSO (Direct Shipping Ore) their current MO will pivot away from the model, but it appears Liontown Resources (ASX:LTR) is shelving its DSO plans for now in the face of the lithium spot price slump.

In an ASX announcement on September 29, Liontown, regarding its Kathleen Valley lithium project production, noted:

“With lithium prices softening, the Company is now planning to ore sort the DSO and add it to our stockpile to be processed by our own plant in the future. However, the Company retains the option to sell this DSO material if market conditions improve.”

Throwing some further positive spin on that, the company added:

“The DSO crushing and sorting programme will also assist in the design of a potential large-scale sorting circuit which could support the planned 4 Mtpa process plant expansion.”

Back in August, ahead of the Diggers and Dealers Mining Forum in Kalgoorlie, Global Lithium Resources (ASX:GL1) mentioned that it sees DSO as an attractive opportunity to churn out early cash flow while the market is buoyant, anticipating it can generate value at benchmark prices upwards of US$2500/t 6% Li2O spodumene.

In more conducive economic circumstances, the DSO model is an attractive means for lithium projects to keep cash flow coming and hit shareholder-appeasing scheduling by shipping out unprocessed ore to China, thus taking advantage of the lithium commodity price when it’s high.

 

Rinehart drops another $152m on Liontown

Speaking of Liontown, there’s been some more movement at the station on this increasingly complicated mega-merger involving Albemarle and, more recently, Hancock Prospecting.

Playing hardball, Gina Rinehart has bunged another great wad of cash into more LTR shares. A spare $152m she, via Hancock Prospecting, had lying around or in a very large cookie jar, possibly.

What her company has potentially now achieved, then, is a blocking stake in LTR, which could end up roiling the massive $6.6bn Albemarle takeover of Liontown.

Per The Australian:

This brings Hancock’s stake in the takeover target to 14.67 per cent, which it is understood could be enough to stymie US battery chemical giant Albemarle’s $6.6bn bid for Liontown, which would need a 75 per cent acceptance of votes cast in favour.

Hancock has not signalled whether it intends to launch a full takeover bid for Liontown, but has made it clear it believes it should at the least be a partner in the company’s flagship lithium project, saying its expertise in bringing large projects online would mitigate the risks still to be navigated in bringing Liontown’s Kathleen Valley mine into production.

Albemarle, meanwhile, is nearing the end of its due diligence on Liontown.

Regarding those Liontown production risks, Hancock’s repeatedly pointed references to them comes after a cost update that lifted Liontown’s Kathleen Valley costs by $56m to $951m.

As Josh wrote on Monday:

“Hancock is largely stating the obvious when it comes to its warnings about project execution, and Albemarle is already under the hood.

“What it does show is the majors and established players of the resources market are keeping a keener and closer eye on the formerly niche lithium sector, even if prices are in a spot right now.” 

And speaking of established players, The Australian‘s Business Editor Cameron England speculated the following:

“There is also the prospect of Chris Ellison’s Mineral Resources joining the fray, as it did in the takeover battle for Warrego Energy earlier this year, where it eventually tipped a 19.9 per cent blocking stake into Hancock’s offer, getting it over the line.

“MinRes has not made a move as yet, however it would make strategic sense to collaborate.”

 

Here’s a snapshot of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese, and vanadium are performing lately>>>

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

Code Company Price % Week % Month % Year Market Cap
VIA Viagold Rare Earth 0 -100% -100% -100% $166,624,800
PVW PVW Res Ltd 0.069 1% -14% -55% $6,597,100
A8G Australasian Metals 0.19 36% 19% -32% $9,902,900
INF Infinity Lithium 0.085 0% -10% -53% $38,857,700
LPI Lithium Pwr Int Ltd 0.35 40% 43% -35% $226,525,500
PSC Prospect Res Ltd 0.08 -1% -17% -27% $35,131,700
PAM Pan Asia Metals 0.2 5% -22% -47% $31,764,300
CXO Core Lithium 0.42 22% 5% -62% $918,882,300
LOT Lotus Resources Ltd 0.2425 1% 10% 8% $365,170,200
AGY Argosy Minerals Ltd 0.185 6% -27% -63% $273,859,500
AZS Azure Minerals 2.75 6% 3% 1518% $1,234,707,900
NWC New World Resources 0.029 -6% -12% -12% $67,852,300
QXR Qx Resources Limited 0.024 0% -17% -47% $21,524,700
GSR Greenstone Resources 0.009 0% -25% -86% $12,288,700
CAE Cannindah Resources 0.115 -4% -15% -48% $65,375,200
AZL Arizona Lithium Ltd 0.0155 3% -14% -80% $51,115,000
HNR Hannans Ltd 0.008 0% -11% -62% $21,796,800
COB Cobalt Blue Ltd 0.26 -4% -16% -64% $99,476,300
ESS Essential Metals Ltd 0.48 3% 13% 4% $134,430,000
LPD Lepidico Ltd 0.0115 15% 15% -47% $91,659,700
MRD Mount Ridley Mines 0.002 0% 0% -60% $15,569,800
CZN Corazon Ltd 0.012 -8% -14% -20% $7,387,200
LKE Lake Resources 0.1725 5% -20% -81% $256,040,000
DEV Devex Resources Ltd 0.355 0% 9% 15% $139,042,000
INR Ioneer Ltd 0.2225 -3% -7% -65% $485,247,200
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,200
MAN Mandrake Res Ltd 0.04 5% 3% 5% $23,950,400
RLC Reedy Lagoon Corp. 0.007 40% 17% -48% $4,316,800
GBR Greatbould Resources 0.052 -15% -30% -50% $27,286,700
FRS Forrestaniaresources 0.046 0% -23% -75% $4,312,500
STK Strickland Metals 0.07 30% 59% 75% $112,016,900
MLX Metals X Limited 0.2825 -9% -4% 7% $263,107,200
CLA Celsius Resource Ltd 0.0115 5% 5% -18% $24,706,600
FGR First Graphene Ltd 0.056 -8% -21% -49% $31,871,100
HXG Hexagon Energy 0.009 0% 0% -47% $4,616,200
TLG Talga Group Ltd 1.245 11% -5% -2% $447,335,200
MNS Magnis Energy Tech 0.074 -1% -18% -80% $88,762,900
OZL OZ Minerals 0 -100% -100% -100% $8,918,404,400
PLL Piedmont Lithium Inc 0.6075 -1% -13% -28% $250,768,400
EUR European Lithium Ltd 0.074 1% 6% -4% $103,173,700
BKT Black Rock Mining 0.085 1% -11% -43% $93,255,700
QEM QEM Limited 0.2 -5% -5% -11% $28,764,400
LYC Lynas Rare Earths 6.595 -2% -9% -13% $6,331,268,900
ESR Estrella Res Ltd 0.008 14% 0% -33% $11,868,600
ARL Ardea Resources Ltd 0.585 -2% -20% -34% $114,850,500
GLN Galan Lithium Ltd 0.67 12% -9% -44% $219,071,300
JRL Jindalee Resources 1.73 5% 1% -26% $98,978,700
VUL Vulcan Energy 2.87 -7% -16% -62% $488,172,400
SBR Sabre Resources 0.038 -7% -22% -37% $11,076,500
CHN Chalice Mining Ltd 2.305 -5% -30% -41% $894,615,600
VRC Volt Resources Ltd 0.008 7% -11% -67% $31,515,400
NMT Neometals Ltd 0.315 -13% -38% -72% $199,190,900
AXN Alliance Nickel Ltd 0.064 5% -18% -39% $47,179,600
PNN Power Minerals Ltd 0.24 -6% -13% -51% $19,530,500
IGO IGO Limited 12.4 3% -10% -9% $9,640,019,300
GED Golden Deeps 0.053 -2% -10% -65% $6,469,300
ADV Ardiden Ltd 0.006 20% 0% -20% $16,130,000
SRI Sipa Resources Ltd 0.021 5% -5% -58% $5,019,500
NTU Northern Min Ltd 0.027 -4% -13% -34% $165,507,400
AXE Archer Materials 0.495 9% -5% -37% $128,697,700
PGM Platina Resources 0.026 0% -10% 24% $16,825,900
AAJ Aruma Resources Ltd 0.036 13% -12% -36% $7,088,100
IXR Ionic Rare Earths 0.023 0% 21% -47% $94,946,500
NIC Nickel Industries 0.74 -4% -9% -6% $3,235,786,500
EVG Evion Group NL 0.037 16% 23% -55% $12,800,500
CWX Carawine Resources 0.15 11% 11% 58% $29,522,600
PLS Pilbara Min Ltd 4.115 -1% -12% -10% $12,660,714,000
HAS Hastings Tech Met 0.705 -5% -33% -80% $93,144,000
BUX Buxton Resources Ltd 0.21 2% 27% 119% $35,968,500
ARR American Rare Earths 0.135 8% 4% -36% $60,267,100
SGQ St George Min Ltd 0.04 3% -7% 13% $32,169,800
TKL Traka Resources 0.005 0% -17% -29% $4,356,600
PAN Panoramic Resources 0.037 0% -23% -81% $106,907,600
PRL Province Resources 0.041 0% 0% -49% $48,441,200
IPT Impact Minerals 0.0125 4% 4% 79% $35,808,800
LIT Lithium Australia 0.034 -3% -11% -39% $40,332,300
AKE Allkem Limited 11.23 -3% -20% -19% $7,486,452,300
ARN Aldoro Resources 0.089 -11% -29% -60% $12,116,100
JRV Jervois Global Ltd 0.0355 -1% -28% -93% $105,398,300
MCR Mincor Resources NL 0 -100% -100% -100% $751,215,500
SYR Syrah Resources 0.515 10% -10% -69% $371,743,800
FBM Future Battery 0.115 0% 0% 83% $58,639,200
ADD Adavale Resource Ltd 0.012 -11% -20% -62% $8,764,400
LTR Liontown Resources 2.95 -2% 13% 98% $6,518,676,500
CTM Centaurus Metals Ltd 0.67 -1% -12% -32% $332,718,600
VML Vital Metals Limited 0.01 0% 0% -70% $53,061,500
BSX Blackstone Ltd 0.125 4% 4% -29% $59,211,100
POS Poseidon Nick Ltd 0.0195 3% -11% -57% $70,455,400
CHR Charger Metals 0.135 4% -34% -72% $8,385,400
AVL Aust Vanadium Ltd 0.028 4% -3% -18% $139,121,000
AUZ Australian Mines Ltd 0.015 7% -12% -78% $9,453,500
TMT Technology Metals 0.265 -10% -12% -27% $69,928,600
RXL Rox Resources 0.25 -4% 16% -6% $82,807,400
RNU Renascor Res Ltd 0.125 14% -14% -32% $317,425,900
GL1 Globallith 1.36 -5% -8% -38% $363,805,000
BRB Breaker Res NL 0 -100% -100% -100% $158,126,000
ASN Anson Resources Ltd 0.145 -3% 5% -51% $190,601,700
SYA Sayona Mining Ltd 0.096 3% -17% -59% $1,080,796,100
FFX Firefinch Ltd 0.2 0% 0% 0% $236,569,300
EGR Ecograf Limited 0.13 18% 0% -59% $54,311,000
ATM Aneka Tambang 1.19 3% 3% 3% $1,551,300
TVN Tivan Limited 0.079 7% 4% 0% $125,662,300
ALY Alchemy Resource Ltd 0.011 0% -4% -59% $13,547,900
GAL Galileo Mining Ltd 0.41 37% 26% -69% $81,026,200
BHP BHP Group Limited 43.73 -1% -2% 14% $226,065,794,500
LEL Lithenergy 0.57 -6% 2% -19% $57,685,600
MMC Mitremining 0.265 0% 6% 61% $12,017,800
RMX Red Mount Min Ltd 0.004 0% 0% -38% $9,357,500
GW1 Greenwing Resources 0.125 -7% -22% -66% $24,395,200
AQD Ausquest Limited 0.013 -13% 0% -24% $10,726,900
LML Lincoln Minerals 0.0055 10% -8% -20% $7,813,900
1MC Morella Corporation 0.006 0% -8% -71% $42,970,600
REE Rarex Limited 0.032 -11% -16% -44% $23,235,100
MRC Mineral Commodities 0.031 -18% -40% -66% $22,818,000
PUR Pursuit Minerals 0.009 -10% -10% -18% $26,495,700
QPM Queensland Pacific 0.067 18% 3% -46% $127,034,800
EMH European Metals Hldg 0.695 -3% -9% -5% $83,093,800
BMM Balkanminingandmin 0.205 -2% 21% -36% $14,105,500
PEK Peak Rare Earths Ltd 0.375 -3% -16% -14% $92,624,500
LEG Legend Mining 0.023 -2% -21% -41% $69,707,500
MOH Moho Resources 0.008 -11% 0% -70% $1,904,200
AML Aeon Metals Ltd. 0.016 7% 0% -47% $17,542,400
G88 Golden Mile Res Ltd 0.03 -6% -6% 7% $9,552,300
WKT Walkabout Resources 0.115 0% 0% -34% $76,676,800
TON Triton Min Ltd 0.022 5% -19% -4% $35,911,200
AR3 Austrare 0.22 -6% -14% -33% $35,458,200
ARU Arafura Rare Earths 0.26 8% 6% -20% $560,041,600
MIN Mineral Resources. 64 -6% -11% -3% $13,177,512,100
VMC Venus Metals Cor Ltd 0.125 -4% 0% 43% $23,716,100
S2R S2 Resources 0.165 -6% -3% 22% $71,766,000
CNJ Conico Ltd 0.006 -14% 0% -84% $9,420,600
VR8 Vanadium Resources 0.057 -5% -20% -40% $31,214,200
PVT Pivotal Metals Ltd 0.019 -5% 19% -37% $10,347,400
BOA Boadicea Resources 0.04 5% 25% -60% $4,923,600
IPX Iperionx Limited 1.455 2% 22% 63% $288,184,100
SLZ Sultan Resources Ltd 0.019 -17% -30% -78% $2,963,800
NKL Nickelxltd 0.053 -12% -24% -58% $4,926,800
NVA Nova Minerals Ltd 0.22 -4% -19% -66% $46,395,800
MLS Metals Australia 0.034 3% -3% -21% $21,841,300
MQR Marquee Resource Ltd 0.029 -17% -12% -50% $9,590,500
MRR Minrex Resources Ltd 0.014 0% 0% -68% $15,188,100
EVR Ev Resources Ltd 0.014 8% -7% -44% $12,167,800
EFE Eastern Resources 0.01 11% 11% -68% $11,177,500
CNB Carnaby Resource Ltd 0.86 5% -19% 15% $141,676,300
BNR Bulletin Res Ltd 0.079 7% 36% -31% $23,193,700
AX8 Accelerate Resources 0.023 -4% 10% -34% $9,134,400
AM7 Arcadia Minerals 0.105 5% 5% -61% $10,473,800
AS2 Askarimetalslimited 0.175 -13% -34% -44% $14,309,000
BYH Bryah Resources Ltd 0.013 -19% -35% -47% $5,379,100
DTM Dart Mining NL 0.022 -12% -24% -70% $3,460,200
EMS Eastern Metals 0.033 6% -13% -76% $2,195,800
FG1 Flynngold 0.058 14% -11% -45% $7,910,200
GSM Golden State Mining 0.037 6% -12% -10% $7,452,400
IMI Infinitymining 0.14 4% -3% -42% $11,647,700
LRV Larvottoresources 0.125 -4% -11% -32% $8,743,100
LSR Lodestar Minerals 0.0055 -8% -21% -8% $11,128,700
RAG Ragnar Metals Ltd 0.024 4% -4% -10% $10,901,600
CTN Catalina Resources 0.004 -20% 33% -50% $4,953,900
TMB Tambourahmetals 0.175 -8% -10% 9% $14,929,300
TEM Tempest Minerals 0.008 -16% -43% -76% $4,602,500
EMC Everest Metals Corp 0.11 0% -15% 10% $14,661,100
WML Woomera Mining Ltd 0.0105 -13% -13% -29% $9,561,900
KZR Kalamazoo Resources 0.1 0% 0% -50% $17,806,300
LMG Latrobe Magnesium 0.0425 -8% -13% -46% $72,618,300
KOR Korab Resources 0.019 0% -5% -39% $6,974,000
CMX Chemxmaterials 0.086 -14% -25% -49% $4,776,900
NC1 Nicoresourceslimited 0.44 4% -8% -18% $36,928,500
GRE Greentechmetals 0.4 -10% 4% 186% $23,204,200
CMO Cosmometalslimited 0.053 -5% -26% -63% $1,838,900
FRB Firebird Metals 0.14 0% -3% -28% $10,230,500
S32 South32 Limited 3.395 2% 0% -6% $15,863,493,800
OMH OM Holdings Limited 0.48 -2% -9% -21% $350,846,100
JMS Jupiter Mines. 0.1925 -1% -6% -1% $382,003,300
E25 Element 25 Ltd 0.43 -7% 2% -43% $92,450,400
EMN Euromanganese 0.14 -3% -26% -50% $34,545,400
KGD Kula Gold Limited 0.013 -16% -24% -55% $4,851,800
LRS Latin Resources Ltd 0.2725 5% -28% 184% $750,157,900
CRR Critical Resources 0.038 0% 0% -41% $67,539,300
ENT Enterprise Metals 0.004 0% 0% -60% $3,197,900
SCN Scorpion Minerals 0.069 15% 19% -5% $20,051,000
GCM Green Critical Min 0.007 17% -13% -42% $7,956,100
ENV Enova Mining Limited 0.007 17% 17% -59% $3,420,600
RBX Resource B 0.155 0% -3% 48% $12,816,100
AKN Auking Mining Ltd 0.068 -1% 55% -21% $13,062,600
RR1 Reach Resources Ltd 0.0125 -17% -11% 79% $44,570,800
EMT Emetals Limited 0.008 -11% 0% -50% $6,800,000
PNT Panthermetalsltd 0.08 18% 43% -52% $4,892,000
WIN Widgienickellimited 0.22 10% 16% -6% $67,037,600
WMG Western Mines 0.3 -3% -12% 140% $18,140,300
AVW Avira Resources Ltd 0.002 33% 33% -33% $4,267,600
CAI Calidus Resources 0.145 -9% -15% -73% $94,221,400
GT1 Greentechnology 0.425 -8% -16% -44% $97,969,700
KAI Kairos Minerals Ltd 0.021 -5% -16% -25% $55,039,200
MTM MTM Critical Metals 0.036 -8% -25% -71% $3,559,700
NWM Norwest Minerals 0.03 3% -12% -17% $8,627,100
PGD Peregrine Gold 0.28 -5% -10% -55% $15,729,700
RAS Ragusa Minerals Ltd 0.038 23% -22% -89% $5,418,800
RGL Riversgold 0.013 8% 0% -64% $12,366,400
SRZ Stellar Resources 0.012 9% 9% -20% $12,071,600
STM Sunstone Metals Ltd 0.015 -17% -32% -58% $46,229,800
ZNC Zenith Minerals Ltd 0.115 26% -4% -59% $40,523,800
WC8 Wildcat Resources 0.475 20% 19% 1384% $326,152,600
ASO Aston Minerals Ltd 0.035 -3% -24% -58% $34,438,000
THR Thor Energy PLC 0.037 -18% 3% -61% $6,700,800
YAR Yari Minerals Ltd 0.018 -5% -5% -5% $8,682,400
IG6 Internationalgraphit 0.1825 1% 1% -48% $16,462,800
LPM Lithium Plus 0.56 40% 133% -7% $32,664,200
ODE Odessa Minerals Ltd 0.012 0% 50% -33% $11,365,300
KOB Kobaresourceslimited 0.08 0% -18% -36% $8,433,300
AZI Altamin Limited 0.06 -8% -15% -28% $25,461,600
FTL Firetail Resources 0.1 -5% -13% -50% $14,890,600
LNR Lanthanein Resources 0.0085 6% -39% -78% $8,972,600
CLZ Classic Min Ltd 0.001 0% 0% -94% $12,046,200
NVX Novonix Limited 0.79 -4% -15% -55% $398,080,200
OCN Oceanalithiumlimited 0.22 2% -8% -58% $11,676,800
SUM Summitminerals 0.115 -18% -4% -38% $5,480,600
DVP Develop Global Ltd 3.22 4% 15% 29% $652,678,500
XTC Xantippe Res Ltd 0.001 0% 0% -79% $17,528,000
OD6 Od6Metalsltd 0.17 0% -15% -3% $9,077,600
HRE Heavy Rare Earths 0.089 -2% 37% -49% $5,413,400
LIN Lindian Resources 0.21 -14% -36% -35% $230,384,400
PEK Peak Rare Earths Ltd 0.375 -3% -16% -14% $92,624,500
ILU Iluka Resources 7.42 -6% -12% -18% $3,314,531,300
ASM Ausstratmaterials 1.46 -5% -15% -38% $255,166,100
ETM Energy Transition 0.038 0% -7% -24% $54,229,800
VMS Venture Minerals 0.01 -17% -23% -57% $21,450,100
IDA Indiana Resources 0.06 -5% 0% -6% $33,211,900
VTM Victory Metals Ltd 0.205 8% 0% 17% $16,179,900
M2R Miramar 0.037 -29% -14% -57% $5,508,200
WCN White Cliff Min Ltd 0.012 -8% 50% -40% $15,084,200
TAR Taruga Minerals 0.011 10% 22% -62% $7,766,300
ABX ABX Group Limited 0.078 -1% -20% -50% $19,144,900
MEK Meeka Metals Limited 0.039 -19% -20% -35% $41,883,900
RR1 Reach Resources Ltd 0.0125 -17% -11% 79% $44,570,800
DRE Dreadnought Resources Ltd 0.048 -9% -16% -51% $161,247,800
KFM Kingfisher Mining 0.185 0% -8% -58% $9,668,700
AOA Ausmon Resorces 0.003 -14% 0% -60% $2,907,900
WC1 Westcobarmetals 0.086 4% 1% -68% $7,342,600
GRL Godolphin Resources 0.039 8% 15% -53% $6,938,900
DM1 Desert Metals 0.045 0% -54% -91% $3,264,300
PTR Petratherm Ltd 0.064 19% 10% -12% $12,361,300
ITM Itech Minerals Ltd 0.13 -4% -21% -67% $15,786,000
KTA Krakatoa Resources 0.023 10% -16% -66% $10,437,600
M24 Mamba Exploration 0.05 -12% 0% -60% $3,232,100
LNR Lanthanein Resources 0.0085 6% -39% -78% $8,972,600
TKM Trek Metals Ltd 0.053 -2% -23% -16% $27,670,700
BCA Black Canyon Limited 0.12 0% -20% -45% $7,877,300
CDT Castle Minerals 0.01 11% -9% -60% $11,244,900
DLI Delta Lithium 0.725 -6% -9% 12% $412,810,500
A11 Atlantic Lithium 0.455 -2% 8% -29% $284,692,400
KNI Kunikolimited 0.3 -9% -23% -58% $26,630,900
CY5 Cygnus Metals Ltd 0.175 -5% -17% -35% $49,307,200
WR1 Winsome Resources 1.42 -4% -6% 274% $235,327,700
LLI Loyal Lithium Ltd 0.605 -18% -15% 32% $54,959,300
BC8 Black Cat Syndicate 0.21 -18% -7% -36% $62,404,200
BUR Burleyminerals 0.155 -16% 24% 11% $15,701,000
PBL Parabellumresources 0.345 0% 0% 30% $18,879,300
L1M Lightning Minerals 0.125 -7% -17% 0% $4,718,200
WA1 Wa1Resourcesltd 4.92 -6% -11% 3074% $214,650,500
EV1 Evolutionenergy 0.175 3% -10% -33% $24,853,100
1AE Auroraenergymetals 0.14 4% 94% -40% $24,677,100
RVT Richmond Vanadium 0.385 1% -4% 0% $33,190,000
PMT Patriotbatterymetals 1.205 -7% -12% 0% $428,906,800
PAT Patriot Lithium 0.185 0% -5% 0% $11,180,300
BM8 Battery Age Minerals 0.265 0% -18% -47% $24,888,300
OM1 Omnia Metals Group 0.085 2% -37% -43% $3,873,500
VHM Vhmlimited 0.5 -6% 11% 0% $76,188,500
LLL Leolithiumlimited 0.505 0% -56% -10% $498,553,700
SRN Surefire Rescs NL 0.0145 -3% -6% 12% $24,770,500
SRL Sunrise 0.765 -2% -19% -68% $69,475,200
SYR Syrah Resources 0.515 10% -10% -69% $371,743,800
EG1 Evergreenlithium 0.28 -2% 2% 0% $15,744,400
WSR Westar Resources 0.021 -5% -9% -57% $3,985,200
LU7 Lithium Universe Ltd 0.05 -6% 2% -17% $19,426,100
MEI Meteoric Resources 0.215 -7% -10% 1554% $417,241,300
REC Rechargemetals 0.19 -5% -10% 19% $20,061,100
SLM Solismineralsltd 0.25 -11% -31% 233% $18,986,000
DYM Dynamicmetalslimited 0.2 -7% -13% 0% $7,175,000
TOR Torque Met 0.31 -17% 148% 72% $38,600,000
ICL Iceni Gold 0.075 -11% -13% -23% $18,708,900
TMX Terrain Minerals 0.005 25% -17% -29% $6,288,200
MHC Manhattan Corp Ltd 0.007 -13% -22% -13% $20,558,900
MHK Metalhawk. 0.098 -15% -11% -46% $7,168,200
ANX Anax Metals Ltd 0.0355 -11% -33% -37% $14,616,700
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Who’s turning heads lately on the ASX?

Alderan Resources (ASX:AL8) made an update on the seven lithium exploration projects it’s acquiring in the mineral resource rich state of Minas Gerais, Brazil. It published a due diligence (legal) update on the projects, as well as noting project site visits are underway.

Nimy Resources (ASX:NIM) has noted its intersected 13m of massive sulphide mineralisation in total, containing pyrrhotite, pentlandite, chalcopyrite and pyrite in RC drilling at its Mons nickel project. 

Galaxy Resources’ Jiangsu plant designer Hatch will take on the design study of Lithium Universe (ASX:LU7) proposed 16,000tpa lithium carbonate plant in Canada. Read more in our special report.

Pioneer Lithium (ASX:PLN) has begun mapping and sampling work at its Root Lake project in James Bay. Read more in our special report.

Altech Batteries (ASX:ATC) has started the permitting and licensing process for its 100MWh lithium-free, cobalt-free, graphite-free and copper-free CERENERGY battery project in Germany, which is expected to streamline construction and operation process.

Future Battery Minerals (ASX:FBM) has commenced Phase 3 resource drilling at the Nevada lithium project in the US, eyeing a maiden resource for Q1 2024.

Galan Lithium (ASX:GLN) has released the Phase 2 definitive feasibility study for its Hombre Muerto West project in Argentina, which delivers a 286% increase in production to 20,851t LCE, and improves NPV 8 and IRR to US$2bn and 43% for additional Capex of US$278m. (Read more on this in our special report here.)

Dynamic Metals (ASX:DYM) has sold tenement E39/2134 to Western Mines Group (ASX:WMG) which is expanding its Mulga Tank nickel-copper-PGE project next door.

And Patriot Lithium (ASX:PAT) has appointed Hugh Warner as non-executive chairman and Chris Hilbrands as joint company secretary, both of whom were founding directors and/or executives of Prospect Resources (ASX:PSC).

 

The Fitz factor

Hold on, before we get out of here and recharge for something else… it’s always well worth paying attention to what our ‘Garimpeiro’ columnist Barry FitzGerald is looking at in this resources sub-sector.

Following on from his recent good call on junior lithium stock Bulletin Resources (ASX:BNR), Barry’s latest profile subject Leeuwin Metals (ASX:LM1) is up 23.5% over the past week, on nothing particularly newsworthy or fresh.

Hell, let’s just put it down to the Fitz factor then, shall we?

The Glencore backed nickel and lithium explorer is among the throng hunting battery metals in Canada – no, not in Quebec’s James Bay, but in the territory of Manitoba.

There, it’s focused on the Cross Lake lithium project, which includes an area that’s been dubbed “Spodumene Island”, along with the William Lake nickel sulphide project.

It’s all pretty chin-stroking stuff. Writes Barry…

“Garimpeiro has continued his relentless search for lithium explorers with tight capital bases. If a nickel project, and exposure to a rare earths hot spot are thrown in as part of the bargain, then all the better.”

And you can continue reading that… here.

 

At Stockhead we tell it like it is. While Lithium Universe, Pioneer Lithium, Altech Batteries, Future Battery Minerals, Galan Lithium and Patriot Lithium are Stockhead advertisers, they did not sponsor this article.

 

 

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