High Voltage: China may dominate 90% of the world’s cathode production by 2030, but the devil's in the detail

China will extend its dominance in cathode production, increasing market share from 78% in 2022 to 87% in 2030: Benchmark
And yet this will mostly be from Tier 3 producers, which currently do not supply EV market
Tier 1 production — those which can supply non-Chinese car makers — will actually shrink from 66% in 2022 to 43% in 2030
This week’s biggest movers: QXR Resources, Winsome Resources, Eastern Resources, Alchemy Resources and Prospect Resources

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

Europe and the US appear determined to secure their own battery supply chains and drastically reduce their reliance on China.

While demand is ostensibly growing for battery material which bypasses China, data from Benchmark’s Cathode Forecast shows that China is set to extend its dominance, increasing its share of production from 78% in 2022 to 87% in 2030.

The cathode is a crucial part of the battery which contains high value metals like cobalt, nickel, manganese and lithium.

The data highlights how China’s total output is set to increase by a further 5.3 times from now until 2030, despite efforts to develop cathode capacity in the rest of the world which is only forecast to increase 2.8 times in the same period.

“China has a stronghold grip on the market,” Robert Burrell, an analyst at Benchmark, said.

“China will produce far more [cathode active material] than it needs domestically.”

But maybe that 90% figure ain’t as dominant as it sounds

Firstly, many of the cathode facilities in planning or under construction are from Tier 3 producers, who currently do not supply the EV market.

“This tier currently makes up just under a quarter of China’s cathode production in 2022, but will grow to nearly half by 2030,” Benchmark says.

“Tier One producers, those which can supply ex-China automotive markets, will see the lowest growth in the country of all the tiers, and will shrink from 66% of production in 2022 to just 43% in 2030.”

Looks like the ex-China world may need more of its own cathode production after all.

In fact, China’s share of NCM cathode production will fall

There are different types of cathode chemistries.

Central to China’s growth is its LFP (lithium iron phosphate) cathode industry, which Benchmark forecasts will account for 69% of the country’s cathode output in 2030, up from 44% in 2022.

They are ostensibly cheaper than the incumbent NCA or NCM (nickel manganese cobalt) cells mainly because they don’t require scarce and price-volatile metals such as nickel or cobalt.

This is offset by their lower energy densities, which makes them not-so-good for gruntier, long range vehicles.

Benchmark forecasts that in 2030 China will produce 98% of the world’s LFP.

However, between 2022 and 2030, China’s share of NCM production will drop from 39% to 22%.

“China’s EV demand is less driven by range anxiety as in North America and Europe, leading to a lower demand for high energy cathodes such as NCM,” Benchmark says.

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].

CODE	COMPANY	% WEEK	% MONTH	% 6 MONTH	% YEAR	PRICE	MARKET CAP
QXR	Qx Resources Limited	53%	79%	-28%	206%	0.052	$42,108,754
EFE	Eastern Resources	41%	37%	-21%	17%	0.041	$30,274,901
ALY	Alchemy Resource Ltd	40%	33%	87%	104%	0.028	$27,639,203
WR1	Winsome Resources	37%	40%	-24%	0%	0.37	$47,289,898
PSC	Prospect Res Ltd	36%	11%	144%	411%	0.11	$46,225,946
GAL	Galileo Mining Ltd	30%	39%	586%	492%	1.51	$278,345,647
RBX	Resource B	26%	-8%	-44%	-45%	0.11	$4,507,415
SRZ	Stellar Resources	25%	0%	-44%	-52%	0.015	$15,069,464
AS2	Askarimetalslimited	24%	6%	-40%	55%	0.34	$13,377,379
VR8	Vanadium Resources	21%	31%	0%	64%	0.105	$44,983,676
IMI	Infinitymining	20%	20%	45%	0%	0.24	$13,512,500
VRC	Volt Resources Ltd	18%	8%	37%	-19%	0.026	$79,695,931
BEM	Blackearth Minerals	18%	8%	-22%	-25%	0.098	$23,825,668
TMT	Technology Metals	17%	14%	-29%	6%	0.41	$87,077,191
CZN	Corazon Ltd	17%	-8%	-49%	-45%	0.0175	$10,070,454
AKN	Auking Mining Ltd	16%	9%	-50%	-54%	0.095	$8,871,040
RLC	Reedy Lagoon Corp.	15%	-6%	-57%	-35%	0.015	$8,361,404
NKL	Nickelxltd	15%	15%	-9%	-12%	0.15	$7,762,500
GRE	Greentechmetals	15%	-39%	-31%	0%	0.155	$4,379,200
WC1	Westcobarmetals	15%	41%	96%	22%	0.275	$8,456,271
CNJ	Conico Ltd	14%	-9%	196%	-17%	0.041	$55,288,788
SYA	Sayona Mining Ltd	14%	-2%	0%	43%	0.25	$1,869,559,978
LRV	Larvottoresources	13%	-4%	-4%	0%	0.215	$7,060,525
TLG	Talga Group Ltd	13%	-1%	-20%	-7%	1.335	$390,367,384
PLS	Pilbara Min Ltd	12%	40%	45%	156%	4.96	$13,580,544,828
HRE	Heavy Rare Earths	12%	-16%	0%	0%	0.185	$10,112,948
MLX	Metals X Limited	12%	9%	-57%	-19%	0.29	$244,961,838
AQD	Ausquest Limited	11%	18%	-9%	18%	0.02	$15,677,835
THR	Thor Mining PLC	11%	0%	-41%	-47%	0.01	$10,991,633
MIN	Mineral Resources.	11%	18%	27%	66%	69.09	$12,540,578,548
ADD	Adavale Resource Ltd	11%	-11%	-18%	-51%	0.031	$14,396,445
ILU	Iluka Resources	11%	-1%	-13%	14%	9.76	$3,960,367,647
BHP	BHP Group Limited	10%	9%	-15%	22%	39.87	$195,540,673,462
PLL	Piedmont Lithium Inc	10%	5%	-13%	21%	0.875	$435,245,910
GSR	Greenstone Resources	10%	-1%	74%	144%	0.066	$63,207,221
MRD	Mount Ridley Mines	10%	10%	-39%	-21%	0.0055	$29,726,363
TON	Triton Min Ltd	10%	-21%	-24%	-37%	0.022	$30,421,252
MRD	Mount Ridley Mines	10%	10%	-39%	-21%	0.0055	$29,726,363
GBR	Greatbould Resources	10%	3%	-23%	-38%	0.1	$42,287,217
CHN	Chalice Mining Ltd	10%	-11%	-45%	-33%	3.91	$1,399,825,562
JRV	Jervois Global Ltd	9%	9%	-35%	8%	0.535	$767,474,235
OCN	Oceanalithiumlimited	9%	-10%	0%	0%	0.55	$17,433,000
INR	Ioneer Ltd	9%	-1%	-15%	-5%	0.615	$1,269,371,116
INF	Infinity Lithium	9%	6%	6%	54%	0.185	$79,042,483
SUM	Summitminerals	9%	-5%	0%	0%	0.185	$4,203,684
DVP	Develop Global Ltd	8%	16%	-16%	1%	2.64	$400,275,648
NTU	Northern Min Ltd	8%	0%	-20%	-2%	0.043	$204,140,635
GED	Golden Deeps	7%	-6%	15%	50%	0.015	$16,173,174
KOR	Korab Resources	7%	7%	-25%	43%	0.03	$11,378,550
CAI	Calidus Resources	7%	-3%	-44%	0%	0.545	$223,268,670
IGO	IGO Limited	7%	15%	1%	69%	14.5	$10,465,441,176
LRS	Latin Resources Ltd	6%	-9%	-31%	127%	0.1	$181,010,776
HXG	Hexagon Energy	6%	6%	-62%	-77%	0.017	$8,719,570
LKE	Lake Resources	6%	-9%	-58%	63%	0.96	$1,244,026,470
GRL	Godolphin Resources	6%	-1%	-41%	-41%	0.088	$9,824,664
AZS	Azure Minerals	6%	-5%	-49%	-42%	0.18	$54,378,751
AVL	Aust Vanadium Ltd	6%	-18%	-60%	64%	0.036	$135,262,871
WCN	White Cliff Min Ltd	6%	-10%	-37%	46%	0.019	$15,699,671
EUR	European Lithium Ltd	5%	-8%	-50%	-26%	0.078	$109,218,656
LYC	Lynas Rare Earths	5%	-6%	-30%	20%	7.785	$6,760,893,891
LPI	Lithium Pwr Int Ltd	5%	-6%	-40%	70%	0.5425	$197,556,569
SYR	Syrah Resources	5%	0%	-5%	61%	1.6425	$1,059,501,722
MQR	Marquee Resource Ltd	5%	-17%	-48%	-13%	0.06	$18,937,055
SCN	Scorpion Minerals	5%	1%	18%	45%	0.08	$26,214,664
CAE	Cannindah Resources	5%	-9%	-39%	45%	0.21	$114,932,941
COB	Cobalt Blue Ltd	5%	-5%	-23%	126%	0.735	$233,076,763
IXR	Ionic Rare Earths	5%	-4%	-51%	23%	0.043	$158,776,802
MCR	Mincor Resources NL	5%	-12%	-20%	46%	1.855	$893,420,724
MLS	Metals Australia	5%	-14%	-69%	120%	0.044	$24,888,484
QEM	QEM Limited	5%	-4%	-13%	50%	0.225	$28,146,055
NMT	Neometals Ltd	4%	-11%	-40%	37%	1.175	$626,913,287
WMG	Western Mines	4%	-4%	-47%	-43%	0.13	$4,395,900
OZL	OZ Minerals	4%	4%	-2%	21%	26.42	$8,636,422,006
AZI	Altamin Limited	4%	-13%	-10%	4%	0.083	$32,512,490
KGD	Kula Gold Limited	4%	40%	-39%	-42%	0.028	$9,750,146
AAJ	Aruma Resources Ltd	4%	-17%	-57%	-35%	0.058	$8,475,921
AGY	Argosy Minerals Ltd	4%	42%	4%	170%	0.5125	$664,081,094
ESS	Essential Metals Ltd	3%	5%	-23%	178%	0.445	$104,174,191
S32	South32 Limited	3%	-7%	-30%	6%	3.715	$16,477,216,439
PGD	Peregrine Gold	3%	-17%	21%	51%	0.605	$23,813,757
LOT	Lotus Resources Ltd	3%	-7%	-39%	-7%	0.2275	$285,089,849
LTR	Liontown Resources	3%	-5%	-21%	14%	1.54	$3,195,813,434
TMB	Tambourahmetals	3%	11%	-40%	-24%	0.155	$6,384,853
ABX	ABX Group Limited	3%	24%	-16%	48%	0.155	$35,774,530
PVW	PVW Res Ltd	3%	-35%	-67%	-20%	0.16	$14,418,391
KTA	Krakatoa Resources	3%	3%	12%	-9%	0.064	$21,372,015
PVW	PVW Res Ltd	3%	-35%	-67%	-20%	0.16	$14,418,391
KTA	Krakatoa Resources	3%	3%	12%	-9%	0.064	$21,372,015
M2R	Miramar	3%	-11%	-47%	-51%	0.098	$5,840,986
TEM	Tempest Minerals	3%	-15%	-82%	50%	0.033	$16,404,901
VML	Vital Metals Limited	3%	-13%	-42%	-40%	0.035	$156,713,116
PAN	Panoramic Resources	3%	-14%	-38%	-10%	0.185	$379,419,091
RNU	Renascor Res Ltd	3%	3%	-40%	42%	0.185	$379,709,155
VUL	Vulcan Energy	3%	1%	-29%	-41%	7.55	$1,013,380,578
ITM	Itech Minerals Ltd	3%	27%	-18%	0%	0.38	$30,883,334
PAM	Pan Asia Metals	3%	-9%	-30%	-13%	0.39	$26,980,888
AKE	Allkem Limited	3%	8%	15%	70%	14.215	$8,404,333,573
BRB	Breaker Res NL	2%	-5%	-16%	-28%	0.21	$68,426,595
1MC	Morella Corporation	2%	-10%	-36%	-64%	0.0225	$116,031,116
GLN	Galan Lithium Ltd	2%	-1%	-42%	24%	1.21	$338,072,568
ASN	Anson Resources Ltd	2%	-3%	82%	249%	0.3	$328,761,375
LIN	Lindian Resources	2%	15%	824%	797%	0.305	$262,987,574
LPM	Lithium Plus	2%	6%	0%	0%	0.615	$26,547,829
EGR	Ecograf Limited	2%	-13%	-43%	-52%	0.325	$139,603,372
AZL	Arizona Lithium Ltd	1%	-4%	-56%	84%	0.079	$185,564,268
ASO	Aston Minerals Ltd	1%	-2%	-50%	-31%	0.083	$93,536,598
IPX	Iperionx Limited	1%	-6%	-35%	-22%	0.845	$150,721,938
CHR	Charger Metals	1%	3%	-42%	-2%	0.485	$19,622,716
ARL	Ardea Resources Ltd	1%	5%	-47%	123%	0.9	$154,461,373
NVX	Novonix Limited	0%	-11%	-71%	-72%	1.83	$844,389,633
VIA	Viagold Rare Earth	0%	0%	0%	317%	2	$166,624,808
NWC	New World Resources	0%	-6%	-32%	-47%	0.032	$59,100,890
HNR	Hannans Ltd	0%	0%	-45%	-38%	0.021	$54,731,701
DEV	Devex Resources Ltd	0%	-19%	-31%	-2%	0.31	$113,258,759
AVZ	AVZ Minerals Ltd	0%	0%	-40%	129%	0.78	$2,752,409,203
MAN	Mandrake Res Ltd	0%	-18%	-40%	-37%	0.036	$18,707,497
FRS	Forrestaniaresources	0%	20%	-45%	-42%	0.18	$7,063,865
CLA	Celsius Resource Ltd	0%	15%	-44%	-38%	0.015	$21,039,607
FGR	First Graphene Ltd	0%	-12%	-35%	-39%	0.11	$60,481,409
SBR	Sabre Resources	0%	0%	0%	20%	0.006	$16,739,136
ADV	Ardiden Ltd	0%	-13%	-53%	-42%	0.007	$18,678,347
PGM	Platina Resources	0%	-12%	-60%	-63%	0.023	$11,361,739
TKL	Traka Resources	0%	0%	-42%	-46%	0.007	$4,821,422
IPT	Impact Minerals	0%	-13%	-40%	-52%	0.007	$17,369,594
LIT	Lithium Australia	0%	-27%	-50%	-52%	0.055	$67,080,377
ARN	Aldoro Resources	0%	-14%	-30%	-50%	0.215	$22,407,146
BSX	Blackstone Ltd	0%	-5%	-55%	-60%	0.18	$80,448,288
AUZ	Australian Mines Ltd	0%	-13%	-69%	-69%	0.07	$32,809,969
FFX	Firefinch Ltd	0%	0%	-51%	-2%	0.2	$236,248,644
ATM	Aneka Tambang	0%	0%	1%	15%	1.15	$1,499,196
RMX	Red Mount Min Ltd	0%	-14%	-37%	-33%	0.006	$8,211,819
LML	Lincoln Minerals	0%	0%	0%	0%	0.008	$4,599,869
QPM	Queensland Pacific	0%	-4%	-29%	-49%	0.135	$204,322,707
LEG	Legend Mining	0%	0%	-49%	-49%	0.039	$104,695,157
AML	Aeon Metals Ltd.	0%	0%	-61%	-49%	0.028	$32,802,923
WKT	Walkabout Resources	0%	0%	-10%	8%	0.173011	$78,248,343
S2R	S2 Resources	0%	-7%	-23%	52%	0.135	$48,110,605
BNR	Bulletin Res Ltd	0%	-15%	-57%	69%	0.115	$32,185,021
EMS	Eastern Metals	0%	12%	-28%	0%	0.14	$5,218,594
SHH	Shree Minerals Ltd	0%	13%	-44%	-10%	0.009	$9,907,895
TSC	Twenty Seven Co. Ltd	0%	14%	-43%	-43%	0.002	$10,041,254
WML	Woomera Mining Ltd	0%	0%	-25%	-28%	0.015	$10,302,496
KZR	Kalamazoo Resources	0%	-9%	-42%	-38%	0.205	$31,996,165
CMX	Chemxmaterials	0%	-3%	-18%	0%	0.18	$8,435,903
AOA	Ausmon Resorces	0%	-11%	-11%	14%	0.008	$6,858,315
CML	Chase Mining Limited	0%	-21%	5%	-26%	0.012	$5,617,593
ENV	Enova Mining Limited	0%	6%	-15%	-23%	0.017	$6,242,656
RR1	Reach Resources Ltd	0%	-14%	-25%	-33%	0.006	$11,460,304
AVW	Avira Resources Ltd	0%	0%	-33%	-33%	0.004	$8,475,160
KAI	Kairos Minerals Ltd	0%	18%	3%	10%	0.033	$62,850,992
RAS	Ragusa Minerals Ltd	0%	49%	252%	260%	0.32	$41,237,478
IG6	Internationalgraphit	0%	-7%	0%	0%	0.33	$26,076,195
CLZ	Classic Min Ltd	0%	4%	-89%	-89%	0.016	$7,163,591
RMX	Red Mount Min Ltd	0%	-14%	-37%	-33%	0.006	$8,211,819
VMS	Venture Minerals	0%	-11%	-63%	-50%	0.025	$38,581,525
IDA	Indiana Resources	0%	-4%	10%	10%	0.064	$30,963,508
TAR	Taruga Minerals	0%	12%	16%	-45%	0.029	$16,763,399
RR1	Reach Resources Ltd	0%	-14%	-25%	-33%	0.006	$11,460,304
AOA	Ausmon Resorces	0%	-11%	-11%	14%	0.008	$6,858,315
CTM	Centaurus Metals Ltd	0%	-8%	-32%	2%	1.005	$418,564,148
CWX	Carawine Resources	-1%	-5%	-55%	-54%	0.095	$13,094,263
DM1	Desert Metals	-1%	15%	28%	77%	0.46	$22,796,114
PRL	Province Resources	-1%	-27%	-23%	-50%	0.077	$88,611,986
CNB	Carnaby Resource Ltd	-1%	-10%	-40%	133%	0.745	$105,529,453
AXE	Archer Materials	-1%	-5%	-23%	-58%	0.735	$187,592,741
PTR	Petratherm Ltd	-1%	4%	43%	19%	0.07	$15,507,829
MEK	Meeka Metals Limited	-2%	-13%	13%	34%	0.059	$62,448,094
A8G	Australasian Metals	-2%	10%	-40%	-31%	0.285	$11,733,591
RXL	Rox Resources	-2%	4%	-36%	-33%	0.255	$41,390,532
JRL	Jindalee Resources	-2%	-14%	-34%	2%	2.25	$127,955,094
SLZ	Sultan Resources Ltd	-2%	-16%	-45%	-55%	0.088	$7,329,026
LNR	Lanthanein Resources	-3%	-35%	15%	129%	0.039	$34,661,721
LNR	Lanthanein Resources	-3%	-35%	15%	129%	0.039	$34,661,721
NIC	Nickel Industries	-3%	-14%	-39%	-15%	0.775	$2,048,455,123
JMS	Jupiter Mines.	-3%	-3%	-27%	-14%	0.19	$382,003,251
ODE	Odessa Minerals Ltd	-3%	27%	27%	280%	0.019	$9,668,720
FTL	Firetail Resources	-3%	-27%	0%	0%	0.19	$11,738,675
ODE	Odessa Minerals Ltd	-3%	27%	27%	280%	0.019	$9,668,720
SGQ	St George Min Ltd	-3%	35%	-30%	-49%	0.035	$24,500,623
AX8	Accelerate Resources	-3%	-8%	-50%	-15%	0.035	$9,466,061
RGL	Riversgold	-3%	3%	-59%	43%	0.035	$26,356,458
OD6	Od6Metalsltd	-3%	3%	0%	0%	0.175	$8,634,587
ASM	Ausstratmaterials	-3%	-28%	-71%	-77%	2.26	$315,932,897
REE	Rarex Limited	-3%	-3%	-38%	-40%	0.059	$34,183,808
ZNC	Zenith Minerals Ltd	-3%	-7%	-28%	37%	0.28	$98,257,250
M24	Mamba Exploration	-3%	40%	-3%	-18%	0.14	$5,482,750
EMN	Euromanganese	-4%	-21%	-35%	-46%	0.265	$67,317,820
E25	Element 25 Ltd	-4%	18%	-19%	-59%	0.76	$112,242,121
EVR	Ev Resources Ltd	-4%	-11%	-58%	-26%	0.025	$22,223,618
SRI	Sipa Resources Ltd	-4%	7%	-4%	-14%	0.048	$9,841,191
EMH	European Metals Hldg	-4%	1%	-49%	-46%	0.72	$82,619,547
OMH	OM Holdings Limited	-4%	-11%	-33%	-38%	0.6	$443,174,002
GT1	Greentechnology	-4%	7%	-25%	0%	0.715	$135,424,259
GGG	Greenland Minerals	-4%	-28%	-30%	-57%	0.047	$62,364,225
GME	GME Resources Ltd	-4%	-12%	17%	85%	0.115	$69,046,117
PNN	Power Minerals Ltd	-4%	-7%	-15%	10%	0.455	$31,749,095
MRR	Minrex Resources Ltd	-4%	-12%	-33%	175%	0.044	$45,484,570
GL1	Globallith	-4%	28%	-6%	449%	2.17	$325,331,425
PEK	Peak Rare Earths Ltd	-4%	-10%	-46%	-53%	0.43	$91,233,356
ARU	Arafura Resource Ltd	-4%	10%	-20%	49%	0.32	$534,617,185
MNS	Magnis Energy Tech	-4%	-22%	-29%	15%	0.3725	$349,319,334
LMG	Latrobe Magnesium	-5%	-8%	-12%	189%	0.078	$125,716,547
AM7	Arcadia Minerals	-5%	6%	15%	45%	0.275	$12,608,431
KFM	Kingfisher Mining	-5%	-22%	90%	139%	0.455	$18,582,900
ARR	American Rare Earths	-6%	-8%	-58%	12%	0.2125	$88,876,160
EMT	Emetals Limited	-6%	21%	13%	-11%	0.017	$14,450,000
MMC	Mitremining	-6%	23%	-11%	-37%	0.16	$4,333,616
HAS	Hastings Tech Met	-6%	-34%	-39%	-27%	3.585	$405,997,395
WC8	Wildcat Resources	-6%	19%	-18%	-3%	0.031	$20,003,455
VMC	Venus Metals Cor Ltd	-6%	-6%	-21%	-21%	0.15	$24,812,196
GSM	Golden State Mining	-7%	-23%	-49%	-68%	0.043	$4,797,582
MOH	Moho Resources	-7%	-21%	-49%	-58%	0.027	$4,485,504
PNT	Panthermetalsltd	-7%	-14%	-24%	0%	0.19	$5,490,000
PUR	Pursuit Minerals	-8%	-8%	-57%	-71%	0.012	$11,479,061
KOB	Kobaresourceslimited	-8%	-29%	0%	0%	0.12	$8,125,000
NWM	Norwest Minerals	-8%	-44%	-46%	-53%	0.035	$7,551,651
BUX	Buxton Resources Ltd	-8%	-18%	-14%	32%	0.09	$13,124,618
TNG	TNG Limited	-8%	-30%	-14%	-9%	0.077	$104,131,367
ENT	Enterprise Metals	-8%	22%	-39%	-21%	0.011	$7,182,788
LPD	Lepidico Ltd	-9%	-28%	-49%	0%	0.021	$136,651,016
BKT	Black Rock Mining	-9%	11%	-39%	-18%	0.155	$141,711,279
AOU	Auroch Minerals Ltd	-9%	-10%	-49%	-64%	0.061	$22,266,708
CXO	Core Lithium	-10%	-11%	-26%	175%	1.14	$1,841,427,077
AR3	Austrare	-10%	-13%	-57%	-66%	0.325	$31,416,512
BMM	Balkanminingandmin	-10%	46%	-7%	-61%	0.27	$9,661,250
BYH	Bryah Resources Ltd	-10%	-10%	-48%	-54%	0.026	$7,260,590
POS	Poseidon Nick Ltd	-10%	-16%	-54%	-53%	0.043	$131,750,260
FRB	Firebird Metals	-11%	-12%	-48%	-68%	0.17	$11,769,805
STM	Sunstone Metals Ltd	-11%	-24%	-58%	42%	0.034	$88,279,178
SRL	Sunrise	-11%	-19%	-2%	44%	2.36	$217,039,488
XTC	Xantippe Res Ltd	-11%	-11%	-27%	300%	0.008	$65,161,839
DTM	Dart Mining NL	-11%	-35%	0%	-43%	0.071	$10,991,521
WIN	Widgienickellimited	-11%	-19%	-57%	9%	0.235	$61,329,625
LEL	Lithenergy	-12%	-25%	-31%	19%	0.715	$39,999,750
STK	Strickland Metals	-12%	-29%	-31%	-37%	0.037	$52,533,809
MRC	Mineral Commodities	-12%	-9%	-41%	-49%	0.074	$40,161,798
CZL	Cons Zinc Ltd	-12%	-20%	-51%	-31%	0.0185	$8,332,586
FG1	Flynngold	-13%	6%	-32%	-40%	0.105	$6,726,410
CRR	Critical Resources	-13%	44%	-33%	170%	0.062	$86,420,884
GW1	Greenwing Resources	-14%	25%	-21%	17%	0.35	$43,210,335
NVA	Nova Minerals Ltd	-14%	-27%	-23%	-45%	0.66	$113,869,991
LSR	Lodestar Minerals	-14%	-14%	-57%	-33%	0.006	$10,430,624
ESR	Estrella Res Ltd	-15%	-27%	-59%	-70%	0.011	$14,774,654
G88	Golden Mile Res Ltd	-16%	-23%	-56%	-43%	0.027	$5,523,923
NC1	Nicoresourceslimited	-16%	-39%	-49%	0%	0.52	$47,479,501
1VG	Victory Goldfields	-17%	-35%	21%	-13%	0.175	$7,753,304
CMO	Cosmometalslimited	-17%	-14%	-31%	0%	0.12	$3,061,200
DRE	Dreadnought Resources Ltd	-17%	-35%	133%	153%	0.091	$282,955,620
MTM	Mtmongerresources	-19%	-21%	-35%	-35%	0.11	$4,126,104
BOA	Boadicea Resources	-20%	-17%	-53%	-40%	0.1075	$7,769,990
RFR	Rafaella Resources	-21%	0%	-36%	-63%	0.03	$9,827,768
RAG	Ragnar Metals Ltd	-34%	-26%	-29%	-36%	0.025	$9,479,622

Weekly Small Cap Standouts

Lithium explorer QXR Resources (ASX:QXR) appointed new managing director, Steve Promnitz.

Steve was previously managing director of lithium project developer Lake Resources (ASX:LKE), which he took from a small cap nobody to $2.1bn market cap near-term miner.

Eastern Resources (ASX:EFE) hits thick pegmatites (lithium bearing rock) in 30 of 32 drillholes at the Trigg Hill project in WA.

This former iron ore junior went all-in on lithium after cementing a deal with Chinese battery materials giant Yahua to find and develop Aussie projects late last year.

Yahua Group is one of China’s major lithium chemicals producers.

QXR and EFE share price charts

Alchemy Resources (ASX:ALY) was drawn first in a ballot for new ground along strike of Global Lithium Resources’ (ASX: GL1) 9.9Mt Manna lithium deposit and adjacent to Breaker Resources’ (ASX: BRB) 1.7Moz Lake Roe gold project.

It’s no wonder the 24.8sqkm tenement was in demand. ALY beat out “multiple parties”, the company says.

It will be added to ALY’s 1,220sqkm Karonie lithium and gold project, about 120km east of Kalgoorlie.

Winsome Resources (ASX:WR1) is reporting “exceptionally high-grade assays” up to 4.89% lithium in sampling of a new discovery at the Adina project in Quebec.

10 of the 26 samples collected graded over 2% Li2O. But the proof will be in the drilling, which is set to kick off early next month.

Prospect Resources (ASX:PSC) acquired 51% of the Omaruru lithium project in Namibia, which offers potential “to establish a resource quickly, with walk-up drill targets and a great operating environment,” boss Sam Hosack says.

PSC recently sold its 72.7Mt Arcadia lithium project in Zimbabwe to a subsidiary of lithium-ion battery material producer, Zhejiang Huayou Cobalt Co, for ~$466m net.