• China dominated EV sales in 2024 taking top spot in global EV manufacturing
  • Janus Henderson points to opportunities in China for savvy investors
  • Battery metals opportunities in the West as US friendshoring ramps up

 

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

Last year over 17 million electric vehicles were sold, up 24% compared to 2023, according to research house Rho Motion.

December 2024 resulted in over 1.9 million EV units sold, growing on the previous month’s record by 5%, and growing by 26% compared to December 2023.

China alone contributed 1.3m of those December sales, rounding out the year with another monthly record.

China is clearly taking the lead in EV manufacturing, a move which Janus Henderson Investors’ emerging market equities team says promises to ‘redefine’ global mobility.

The team reckons US dominance in the artificial intelligence and high-performance computing chips sector is more of an exception than the rule. In fact, China has quietly – and decisively – taken the lead in 37 out of 44 key technologies according to the Australian Strategic Policy Institute’s critical technology tracker.

The EV sector is where the country really shines though, due to manufacturers like BYD, SAIC Motor, and NIO surging to the spotlight through capacity ramp-ups, cost reductions and the launch of increasingly consumer attractive models.

Janus Henderson research analyst Douglas Turnbull and portfolio manager Daniel Grana note that EV penetration levels reached up to 67.9% in Shenzhen alone in 2023, which is nearly double the national average of 35.7%.

“This trend is underscored by the western world’s erection of a tariff wall to shelter its auto industries, reflecting its defensive stance against China’s industrial and technological ascendancy,” they said.

“Today’s proclivity for protective measures signifies a reversal of fortunes in the global technological race.”

They liken China’s economy to Germany on steroids, with strong state support pushing the ambitious vision of the country as an industrial and technological powerhouse meaning they are leading the work in key technologies – despite some property market headwinds.

But Turnbull and Grana say the remarkable rise of Chinese enterprises like BYD and other EV manufacturers should not lead to an “uncritical embrace of all Chinese equities”.

“Rigorous fundamental analysis remains crucial, particularly as many will fall foul of our stringent governance lens, given the prioritisation of national interests over shareholder returns,” they said.

“Nonetheless, the landscape is ripe with promising opportunities for discerning investors willing to explore the dynamism of China’s market.

“The EV evolution is not just about a changing guard in automotive leadership, but also signifies a wider technological and economic shift that is shaping our world.

“A shift that, by investing in emerging markets, one stands to benefit from.”

 

Tit for trat trade war leads to friendshoring

Most lithium chemical production is located in China (around 68% in 2024), with lithium hydroxide more dependent on the country as the technology required to convert hard rock minerals into chemicals is primarily located in China or uses Chinese technology.

And now the country’s Ministry of Commerce has proposed new restrictions on the exports of various lithium extraction and processing (carbonate and hydroxide) and LFP and LMFP cathode technologies. 

These measures would mean companies looking to export their tech, for example for Direct Lithium Extraction (DLE), would need a licence.

Essentially, Benchmark says this could limit the options for developers hoping to use DLE technology to exploit brine deposits outside of China and slow the development of brine deposits dependent on DLE technology.

“The proposed restrictions could further hinder the ability of ex-China players to develop capacity to support the build-out of domestic ex-China supply chains,” Benchmark said.

On the flip side, last week, the US Department of Defence (DoD) added Chinese tech companies, including battery manufacturer CATL, to a list of companies allegedly working with China’s military, marking another step in the rising US-China geopolitical and tech tensions.

Benchmark Minerals Intelligence said that while the US DoD’s list includes no specific sanctions, unlike the Commerce Department’s Entity List, it still discourages US firms from dealing with blacklisted Chinese companies, which could cause disruptions to the global lithium-ion battery supply chain.

However, there could be opportunities for friendshoring here (which is basically when you trade with political/economic allies).

Beyond the big guns like BHP (ASX:BHP) and Rio Tinto (ASX:RIO)  there are a bunch of ASX listed mining companies with projects around the world who’ve already secured deals with US automakers.

Sayona Mining (ASX:SYA) is soon-to-be merging with JV partner Piedmont Lithium (ASX:PLL) with their North America Lithium project (NAL) representing the only major source of lithium coming online in Canada in the next two years and is expected to supply key battery and electric vehicle manufacturers including LG Chem and Tesla.

Lake Resources (ASX:LKE) has a non-binding MoU with Ford for the supply of 25,00tpa of lithium from its Kachi project in Argentina. Then there’s Green Technology Metals (ASX:GT1)  is looking to become Ontario’s first vertically integrated battery-grade lithium producer from its Root and Seymour deposits.

Also in Canada is Lithium Universe (ASX:LU7)  who don’t have offtake contracts yet, but are planning to build a 1Mtpa concentrator and a 16,000tpa battery-grade lithium carbonate refinery in Quebec, capturing feedstock from the nearby burgeoning James Bay lithium district, which has >500Mt of economic lithium resources to date.

In Australia, Liontown Resources (ASX:LTR)  is providing Tesla up to 100,000 dry metric tonnes (DMT) of spodumene concentrate over the course of 10 months (commencing September last year) from the Kathleen Valley project in WA. That’s in addition to offtake contracts with Ford for the supply up to 150,000 DMT of spodumene per year for a period of five years once the mine ramps up to full production.

There’s also Quantum Graphite (ASX:QGL) who’re looking to securing funding from US EXIM bank – in conjunction with Sunlands Energy Co. – for its Uley 2 project in South Australia, with the aim to finance an end-to-end supply chain from the mine site production of flake concentrate to the production of >99.6% high purity graphite (HPG) in the Southeast of the United States.

There’s plenty more, but it could take all day for me to write and you to read them, so let’s move on to this week’s battery metals winners and losers.

 

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 >>>

Code Company Price % Week % Month % Six Month % Year Market Cap
XTC XTC Lithium Limited 0.2 19900% 19900% 19900% 19900% $17,528,272
FGR First Graphene Ltd 0.06 88% 118% 15% -8% $39,529,381
TMX Terrain Minerals 0.005 67% 43% 43% 0% $5,432,086
EUR European Lithium Ltd 0.076 58% 81% 43% -21% $89,601,251
OD6 Od6Metalsltd 0.07 37% 133% 30% -36% $8,081,410
SRL Sunrise 0.315 34% 37% -37% -32% $27,068,249
SLZ Sultan Resources Ltd 0.008 33% 14% 0% -49% $1,851,759
AOA Ausmon Resorces 0.002 33% 0% -33% -33% $2,179,455
SGQ St George Min Ltd 0.0275 31% 10% -17% -19% $32,202,051
PVT Pivotal Metals Ltd 0.009 29% 0% -53% -63% $8,165,033
MRR Minrex Resources Ltd 0.009 29% 29% -10% -44% $8,678,940
WC1 Westcobarmetals 0.023 28% 77% -17% -67% $4,221,898
SMX Strata Minerals 0.033 27% 65% 38% -31% $5,152,010
LSR Lodestar Minerals 0.016 23% 0% -20% -71% $2,904,255
VMC Venus Metals Cor Ltd 0.075 23% 15% 1% -25% $11,963,850
EG1 Evergreenlithium 0.07 21% 0% 21% -55% $3,936,100
LIN Lindian Resources 0.1 20% 18% -17% -34% $103,763,001
AM7 Arcadia Minerals 0.024 20% 9% -31% -66% $2,465,052
ANX Anax Metals Ltd 0.012 20% 20% -52% -56% $9,640,969
DLI Delta Lithium 0.1975 20% 10% -16% -36% $146,891,067
BC8 Black Cat Syndicate 0.7225 19% 9% 109% 207% $436,839,844
PTR Petratherm Ltd 0.38 17% 19% 1483% 927% $117,494,704
ALY Alchemy Resource Ltd 0.007 17% -13% 0% -30% $8,246,534
AVL Aust Vanadium Ltd 0.015 15% 25% -6% -25% $112,250,555
ETM Energy Transition 0.091 15% 225% 355% 117% $136,644,742
AX8 Accelerate Resources 0.008 14% 14% -60% -75% $4,974,031
RR1 Reach Resources Ltd 0.008 14% 14% -43% -56% $6,995,451
RR1 Reach Resources Ltd 0.008 14% 14% -43% -56% $6,995,451
WSR Westar Resources 0.008 14% 0% 0% -55% $3,189,799
GCM Green Critical Min 0.0205 14% 242% 413% 156% $34,335,959
EMN Euromanganese 0.034 13% -19% -52% -59% $6,721,248
IG6 Internationalgraphit 0.06 13% 22% -27% -60% $11,613,500
TVN Tivan Limited 0.13 13% 48% 128% 117% $210,095,946
POS Poseidon Nick Ltd 0.0045 13% 13% 23% -55% $16,815,538
ARU Arafura Rare Earths 0.135 13% 13% -29% -13% $332,684,373
HAW Hawthorn Resources 0.046 12% 10% -23% -54% $13,735,640
FG1 Flynngold 0.028 12% 0% 8% -44% $7,316,861
FTL Firetail Resources 0.078 11% -7% -1% 28% $25,859,182
ASL Andean Silver 1.025 11% 4% 3% 346% $159,909,230
INF Infinity Lithium 0.03 11% 25% -48% -69% $13,415,171
SYR Syrah Resources 0.2425 10% 35% -24% -51% $253,548,483
SYR Syrah Resources 0.2425 10% 35% -24% -51% $253,548,483
QPM QPM Energy Limited 0.067 10% 31% 97% 31% $166,404,198
RXL Rox Resources 0.235 9% 18% 52% 39% $118,456,027
AUZ Australian Mines Ltd 0.012 9% 0% 33% 50% $16,782,145
MLS Metals Australia 0.024 9% 9% 23% -29% $16,726,049
PAT Patriot Lithium 0.05 9% 61% 0% -71% $6,700,152
EVG Evion Group NL 0.026 8% 0% 37% -10% $9,021,043
RAS Ragusa Minerals Ltd 0.013 8% 18% -28% -66% $1,853,784
KFM Kingfisher Mining 0.039 8% -11% -35% -72% $2,094,885
CY5 Cygnus Metals Ltd 0.13 8% 18% 150% 24% $101,798,358
LTM Arcadium Lithium PLC 9.16 8% 14% 73% 9% $2,286,233,036
MHC Manhattan Corp Ltd 0.027 8% 17% 62% -59% $6,342,270
VR8 Vanadium Resources 0.028 8% -13% -46% -44% $14,628,255
M24 Mamba Exploration 0.014 8% 17% 8% -71% $3,524,359
NIC Nickel Industries 0.8575 7% -4% 0% 34% $3,646,338,398
MEK Meeka Metals Limited 0.1025 7% 33% 177% 156% $242,622,843
MLX Metals X Limited 0.44 6% 6% -2% 63% $381,512,327
MEI Meteoric Resources 0.089 6% 1% -39% -63% $207,257,650
GL1 Globallith 0.18 6% -3% -35% -76% $45,803,122
WIN WIN Metals 0.018 6% -10% -18% -82% $9,350,988
KNI Kunikolimited 0.18 6% 0% -23% -35% $15,618,468
CNB Carnaby Resource Ltd 0.365 6% 7% -30% -53% $77,371,760
VUL Vulcan Energy 5.99 6% 3% 30% 179% $1,342,654,710
NWC New World Resources 0.019 6% -5% -42% -57% $53,965,353
PGM Platina Resources 0.02 5% 11% -29% -5% $12,463,607
BOA BOA Resources Ltd 0.02 5% -9% -20% -39% $2,467,057
ABX ABX Group Limited 0.04 5% 14% -27% -44% $10,011,738
RON Roninresourcesltd 0.205 5% 21% 37% 28% $7,671,252
1AE Auroraenergymetals 0.065 5% 41% -18% -61% $11,818,207
GBR Greatbould Resources 0.047 4% 0% -16% -23% $34,159,515
LYC Lynas Rare Earths 7.245 4% 6% 14% 15% $6,608,457,568
ESR Estrella Res Ltd 0.024 4% 14% 433% 380% $45,624,925
CHN Chalice Mining Ltd 1.2 4% 2% -6% 3% $439,600,270
PEK Peak Rare Earths Ltd 0.12 4% 4% -35% -64% $40,157,170
PEK Peak Rare Earths Ltd 0.12 4% 4% -35% -64% $40,157,170
OMH OM Holdings Limited 0.365 4% 6% -17% -28% $279,683,732
AZL Arizona Lithium Ltd 0.0125 4% 4% -38% -50% $58,159,589
KNG Kingsland Minerals 0.125 4% -17% -43% -61% $8,344,505
GRL Godolphin Resources 0.0135 4% -4% -10% -69% $4,668,282
ARR American Rare Earths 0.275 4% 2% -5% 77% $134,202,174
EMC Everest Metals Corp 0.14 4% 0% 8% 73% $30,210,818
ILU Iluka Resources 5.38 4% 5% -21% -20% $2,286,851,449
INR Ioneer Ltd 0.165 3% 0% 14% 27% $376,907,603
PFE Pantera Lithium 0.0165 3% -3% -47% -67% $7,580,539
BM8 Battery Age Minerals 0.1 3% -5% -26% -51% $10,327,414
ASN Anson Resources Ltd 0.069 3% 19% -55% -37% $92,771,765
BKT Black Rock Mining 0.036 3% 9% -39% -52% $45,073,749
CTM Centaurus Metals Ltd 0.36 3% -10% -9% -25% $173,845,425
PLS Pilbara Min Ltd 2.355 3% 4% -22% -34% $6,898,416,312
RBX Resource B 0.037 3% 12% -3% -49% $4,261,826
S32 South32 Limited 3.5 3% 3% -3% -2% $15,449,561,974
IGO IGO Limited 5.16 3% 2% -14% -32% $3,862,065,846
A8G Australasian Metals 0.08 3% 0% 11% -43% $4,631,178
RAG Ragnar Metals Ltd 0.02 3% 0% 5% -17% $9,479,720
BUR Burleyminerals 0.083 2% 43% -39% -41% $12,480,788
NTU Northern Min Ltd 0.021 2% -2% -36% -28% $165,973,932
TLG Talga Group Ltd 0.425 2% -4% -22% -36% $182,464,967
MIN Mineral Resources. 36.33 2% 1% -37% -40% $7,222,058,697
PSC Prospect Res Ltd 0.092 2% -2% -32% 10% $53,170,309
PBL Parabellumresources 0.055 2% 10% 38% -17% $3,426,500
JMS Jupiter Mines. 0.1425 2% 2% -46% -19% $274,545,847
BHP BHP Group Limited 40 2% -3% -8% -15% $201,839,789,259
LRV Larvottoresources 0.695 1% 53% 562% 893% $264,047,591
DVP Develop Global Ltd 2.34 0% 1% 11% -6% $643,705,402
CXO Core Lithium 0.089 0% 3% -26% -58% $190,728,383
LPD Lepidico Ltd 0.002 0% 0% -20% -70% $17,178,371
MRD Mount Ridley Mines 0.003 0% -70% -70% -85% $2,335,467
CZN Corazon Ltd 0.002 0% -33% -67% -86% $2,369,145
MAN Mandrake Res Ltd 0.022 0% 0% -24% -44% $13,799,718
RLC Reedy Lagoon Corp. 0.003 0% 50% 0% -40% $2,330,120
CLA Celsius Resource Ltd 0.01 0% -23% -23% -9% $26,692,385
MNS Magnis Energy Tech 0.042 0% 0% 0% 0% $50,378,922
ARL Ardea Resources Ltd 0.33 0% 6% -37% -27% $63,898,533
VRC Volt Resources Ltd 0.003 0% 0% -40% -57% $12,639,719
ADV Ardiden Ltd 0.14 0% 8% 0% -18% $8,752,451
SRI Sipa Resources Ltd 0.014 0% 0% -26% -50% $3,988,364
CWX Carawine Resources 0.1 0% 3% 16% -5% $23,612,545
HAS Hastings Tech Met 0.34 0% 6% -13% -51% $62,578,216
PRL Province Resources 0.041 0% 0% 0% 0% $48,441,219
IPT Impact Minerals 0.012 0% 20% -20% 0% $33,653,771
JRV Jervois Global Ltd 0.011 0% 0% -45% -72% $29,730,402
VML Vital Metals Limited 0.002 0% 0% -33% -60% $17,685,201
GAL Galileo Mining Ltd 0.16 0% 39% -9% -30% $30,631,864
LEL Lithenergy 0.37 0% 0% -4% -31% $41,440,581
RMX Red Mount Min Ltd 0.009 0% -18% -10% -66% $4,184,620
LML Lincoln Minerals 0.006 0% 20% 0% 20% $12,337,557
MRC Mineral Commodities 0.026 0% 0% 0% -26% $25,596,288
LEG Legend Mining 0.01 0% -9% -9% -23% $29,094,772
MOH Moho Resources 0.005 0% 0% 0% -55% $3,582,373
AML Aeon Metals Ltd. 0.005 0% 0% 0% -55% $5,482,003
G88 Golden Mile Res Ltd 0.009 0% 0% -18% -47% $4,255,406
WKT Walkabout Resources 0.095 0% 0% -14% -27% $63,769,838
S2R S2 Resources 0.078 0% 22% -22% -48% $36,228,639
MQR Marquee Resource Ltd 0.014 0% -13% 40% -44% $5,829,381
EVR Ev Resources Ltd 0.002 0% 0% -60% -83% $3,625,007
EFE Eastern Resources 0.028 0% -18% -30% -65% $3,530,519
AS2 Askarimetalslimited 0.011 0% -15% -75% -93% $2,548,290
BYH Bryah Resources Ltd 0.004 0% 33% 0% -69% $2,013,147
DTM Dart Mining NL 0.01 0% -9% -43% -32% $5,980,556
GSM Golden State Mining 0.008 0% -11% -27% -38% $2,234,965
IMI Infinitymining 0.011 0% -21% -39% -92% $4,631,174
CTN Catalina Resources 0.004 0% 60% 33% 14% $4,975,048
OB1 Orbminco Limited 0.002 0% 33% -33% -92% $4,333,180
KOR Korab Resources 0.008 0% 0% 14% -56% $2,936,400
CMX Chemxmaterials 0.026 0% 8% -43% -69% $3,354,580
KGD Kula Gold Limited 0.005 0% -24% -56% -65% $3,216,060
ENT Enterprise Metals 0.003 0% -25% 0% -25% $3,534,952
SCN Scorpion Minerals 0.017 0% 31% -6% -43% $6,141,843
EMT Emetals Limited 0.004 0% -20% 0% -43% $3,400,000
AVW Avira Resources Ltd 0.001 0% 0% 0% -50% $2,938,790
CAI Calidus Resources 0.115 0% 0% 0% -48% $93,678,206
NWM Norwest Minerals 0.016 0% -6% -56% -41% $7,276,793
RGL Riversgold 0.004 0% 33% -43% -64% $6,734,850
STM Sunstone Metals Ltd 0.0065 0% -7% -35% -50% $33,474,374
ZNC Zenith Minerals Ltd 0.037 0% -14% -26% -78% $15,075,333
YAR Yari Minerals Ltd 0.003 0% 0% -25% -70% $1,447,073
ODE Odessa Minerals Ltd 0.0065 0% 8% 86% -19% $10,396,961
AZI Altamin Limited 0.022 0% -4% -33% -58% $14,362,572
CLZ Classic Min Ltd 0.001 0% 0% 0% -98% $1,544,026
HRE Heavy Rare Earths 0.031 0% -3% 11% -39% $6,449,050
CRI Criticalim 0.013 0% -13% -28% 86% $37,638,280
IDA Indiana Resources 0.063 0% 3% 36% 41% $39,849,412
TAR Taruga Minerals 0.01 0% -9% 11% 43% $7,060,268
DRE Dreadnought Resources Ltd 0.011 0% -8% -50% -58% $37,678,000
CDT Castle Minerals 0.002 0% 0% -50% -75% $5,690,442
EV1 Evolutionenergy 0.022 0% -8% -20% -84% $7,978,310
OM1 Omnia Metals Group 0.078 0% 0% 0% 0% $4,550,568
LLL Leolithiumlimited 0.505 0% 0% 0% 0% $608,215,301
SRN Surefire Rescs NL 0.0035 0% -13% -46% -61% $8,457,077
LU7 Lithium Universe Ltd 0.008 0% 0% -50% -70% $7,073,817
REC Rechargemetals 0.02 0% -17% -33% -78% $5,129,799
DYM Dynamicmetalslimited 0.29 0% 12% 100% 81% $10,440,000
FIN FIN Resources Ltd 0.004 0% 0% -43% -79% $2,597,075
LCY Legacy Iron Ore 0.009 0% 13% -33% -45% $87,858,383
ASR Asra Minerals Ltd 0.003 0% 0% -50% -57% $6,937,890
ATM Aneka Tambang 0.89 -1% -5% -17% -25% $1,160,248
LKE Lake Resources 0.0425 -1% 6% 12% -61% $71,222,166
ICL Iceni Gold 0.079 -1% 23% 3% 22% $24,322,953
VTM Victory Metals Ltd 0.37 -1% -8% 6% 76% $39,060,977
LRS Latin Resources Ltd 0.1625 -2% 5% -4% -29% $434,220,017
MHK Metalhawk. 0.305 -2% -6% 510% 154% $34,425,351
TOR Torque Met 0.052 -2% -4% -60% -76% $13,357,020
LTR Liontown Resources 0.5825 -2% -2% -40% -59% $1,407,433,362
PNN Power Minerals Ltd 0.09 -2% -4% -33% -53% $10,246,939
LOT Lotus Resources Ltd 0.22 -2% 5% -37% -34% $519,783,427
COB Cobalt Blue Ltd 0.0645 -2% -9% -26% -70% $28,775,040
EGR Ecograf Limited 0.086 -2% -7% -28% -39% $39,963,600
WR1 Winsome Resources 0.43 -2% -8% -37% -40% $95,410,839
PMT Patriotbatterymetals 0.405 -2% 29% -28% -54% $225,969,183
BNR Bulletin Res Ltd 0.037 -3% -3% -16% -72% $10,863,693
ASM Ausstratmaterials 0.5 -3% 2% -39% -57% $90,659,818
WA1 Wa1Resourcesltd 13.63 -3% -15% -20% 18% $900,619,821
QEM QEM Limited 0.066 -3% 100% -49% -64% $12,595,023
AR3 Austrare 0.094 -3% -13% 3% -33% $15,739,983
AGY Argosy Minerals Ltd 0.029 -3% 4% -66% -76% $43,677,628
AXN Alliance Nickel Ltd 0.029 -3% -28% -19% -29% $21,049,349
LPM Lithium Plus 0.087 -3% -13% -38% -68% $11,557,080
PLL Piedmont Lithium Inc 0.14 -3% -20% -20% -59% $84,612,303
BSX Blackstone Ltd 0.028 -3% 4% -47% -55% $17,254,913
DEV Devex Resources Ltd 0.083 -3% -17% -72% -73% $38,427,088
WMG Western Mines 0.135 -4% -10% -51% -31% $12,197,701
SRZ Stellar Resources 0.0135 -4% -16% -36% 125% $27,036,757
DM1 Desert Metals 0.027 -4% 17% 0% -41% $6,953,068
STK Strickland Metals 0.078 -4% -18% -16% -26% $169,970,935
A11 Atlantic Lithium 0.255 -4% 2% -32% -36% $176,752,565
GED Golden Deeps 0.024 -4% -8% -29% -44% $3,636,536
KM1 Kalimetalslimited 0.12 -4% -14% -44% -77% $9,219,315
JLL Jindalee Lithium Ltd 0.205 -5% -2% -31% -79% $15,086,329
NMT Neometals Ltd 0.08 -5% 4% -2% -59% $61,554,007
RNU Renascor Res Ltd 0.06 -5% 3% -38% -38% $149,979,897
FRB Firebird Metals 0.1 -5% -9% -31% -9% $14,236,140
CAE Cannindah Resources 0.039 -5% -7% -30% -58% $30,579,358
BUX Buxton Resources Ltd 0.038 -5% -5% -51% -76% $8,669,016
CHR Charger Metals 0.057 -5% -17% -8% -66% $4,335,534
CMO Cosmometalslimited 0.019 -5% 0% -67% -68% $2,488,865
WCN White Cliff Min Ltd 0.019 -5% 0% 27% 27% $35,918,944
ITM Itech Minerals Ltd 0.057 -5% 10% -43% -40% $9,737,617
VHM Vhmlimited 0.38 -5% -17% -24% -37% $82,254,913
NH3 Nh3Cleanenergyltd 0.018 -5% -10% 29% 50% $10,442,491
KOB Kobaresourceslimited 0.072 -5% -10% -56% -15% $11,416,436
GLN Galan Lithium Ltd 0.1275 -6% 2% -18% -78% $95,356,860
GT1 Greentechnology 0.068 -6% -1% -7% -67% $24,880,134
LIT Livium Ltd 0.016 -6% -6% -27% -47% $21,440,175
BMM Bayanminingandmin 0.048 -6% -8% -33% -52% $4,129,945
EMH European Metals Hldg 0.155 -6% 0% -45% -52% $30,079,482
NC1 Nicoresourceslimited 0.092 -6% -8% -37% -70% $10,069,453
KZR Kalamazoo Resources 0.076 -6% -12% 9% -34% $15,416,722
EMS Eastern Metals 0.015 -6% 36% -48% -58% $1,705,144
PUR Pursuit Minerals 0.088 -6% -30% -41% -78% $7,183,355
AXE Archer Materials 0.435 -6% 26% 55% 24% $101,938,805
PVW PVW Res Ltd 0.014 -7% -22% -52% -68% $2,784,667
GRE Greentechmetals 0.07 -7% -4% -53% -82% $7,737,831
WC8 Wildcat Resources 0.2425 -7% 8% -10% -61% $327,879,703
OCN Oceanalithiumlimited 0.027 -7% 8% -24% -66% $3,712,402
IXR Ionic Rare Earths 0.0065 -7% 8% -35% -72% $31,370,570
KAI Kairos Minerals Ltd 0.013 -7% -4% 30% -7% $34,201,858
MTM MTM Critical Metals 0.26 -7% 53% 622% 202% $112,291,564
LM1 Leeuwin Metals Ltd 0.11 -8% 83% 112% -21% $5,387,942
SYA Sayona Mining Ltd 0.0245 -9% -18% -28% -52% $277,039,104
BCA Black Canyon Limited 0.066 -10% -4% -22% -37% $7,001,546
REE Rarex Limited 0.009 -10% -18% -40% -64% $7,207,613
LMG Latrobe Magnesium 0.018 -10% -25% -59% -67% $39,925,135
PNT Panthermetalsltd 0.009 -10% 0% -64% -79% $2,233,537
1MC Morella Corporation 0.026 -10% -16% -42% -83% $8,917,169
E25 Element 25 Ltd 0.26 -10% 0% 11% -20% $58,276,786
L1M Lightning Minerals 0.066 -11% -11% 0% -34% $6,819,669
SUM Summitminerals 0.1425 -11% 6% -50% 43% $12,197,918
TON Triton Min Ltd 0.008 -11% 0% -27% -64% $10,978,721
CNJ Conico Ltd 0.008 -11% -20% -20% -84% $1,899,898
M2R Miramar 0.004 -11% -11% -43% -85% $1,587,293
KTA Krakatoa Resources 0.008 -11% -11% -43% -60% $5,901,340
LLI Loyal Lithium Ltd 0.1 -11% -13% -29% -71% $9,972,573
FBM Future Battery 0.022 -12% 10% -24% -67% $14,637,830
GW1 Greenwing Resources 0.044 -12% 13% -12% -60% $10,588,665
TMB Tambourahmetals 0.022 -12% -19% -54% -80% $2,764,751
TKM Trek Metals Ltd 0.022 -12% -15% -37% -44% $10,922,580
AQD Ausquest Limited 0.007 -13% -30% -44% -34% $9,039,478
AKN Auking Mining Ltd 0.0035 -13% -13% -82% -93% $2,059,115
NVX Novonix Limited 0.6725 -13% 11% -2% 4% $392,333,909
SLM Solismineralsltd 0.068 -14% -19% -61% -46% $5,251,493
QXR Qx Resources Limited 0.003 -14% -25% -54% -86% $3,840,234
THR Thor Energy PLC 0.011 -15% -15% -39% -71% $2,991,281
AAJ Aruma Resources Ltd 0.01 -17% -23% -23% -60% $2,220,582
NVA Nova Minerals Ltd 0.325 -17% 12% 59% -4% $101,422,886
ENV Enova Mining Limited 0.005 -17% -17% -50% -77% $4,924,647
ASO Aston Minerals Ltd 0.01 -17% 25% 11% -47% $12,950,643
LNR Lanthanein Resources 0.0025 -17% -17% -38% -75% $4,887,272
LNR Lanthanein Resources 0.0025 -17% -17% -38% -75% $4,887,272
RVT Richmond Vanadium 0.17 -17% -35% -43% -35% $35,493,333
IPX Iperionx Limited 4.31 -18% -5% 87% 187% $1,418,149,654
PGD Peregrine Gold 0.13 -19% 4% -32% -56% $9,502,979
ARN Aldoro Resources 0.26 -20% -12% 160% 174% $46,275,292
TEM Tempest Minerals 0.004 -20% -20% -50% -53% $2,855,384
FRS Forrestaniaresources 0.011 -21% -21% -63% -73% $2,650,732
FLG Flagship Min Ltd 0.041 -23% -25% -59% -76% $8,295,283
CRR Critical Resources 0.005 -29% -17% -44% -72% $14,591,779
SBR Sabre Resources 0.007 -30% -30% -53% -75% $2,750,734
ADD Adavale Resource Ltd 0.002 -33% 0% -60% -82% $4,622,496
RIL Redivium Limited 0.0025 -38% -38% 33% -20% $8,505,889
TKL Traka Resources 0.001 -50% -33% 0% -50% $2,125,790
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Weekly Small Cap Standouts

 

Terrain Minerals (ASX:TMX)

The company has kicked off RC drilling at its Lort River project in WA where it’s testing high-priority Vtem bedrock sulphide conductor targets in the same mineralised belt as IGO’s (ASX:IGO) Nova-Bollinger nickel-copper mine.

TMX says the target conductors are on the western edge of the “eye” feature, similar to Nova-Bollinger’s orebody locations, and that they may share a similar mafic intrusion origin as the Nova-Bollinger deposits.

“This is an exciting time for the company and its shareholders, as drilling begins to test these exciting targets that are potentially of very high value,” executive director Justin Virgin said.

“We strongly believe we are at the forefront in the search for the next Nova-Bollinger-style magmatic nickel-copper deposit within the Albany-Fraser Belt.

“IGO’s success with Nova has shown that these highly valuable ore bodies are not isolated occurrences but part of a broader, richly mineralised region.

“IGO invested $1.8 billion in Nova-Bollinger when nickel prices were significantly lower, highlighting the immense potential of these deposits.

“IGO’s 4Q24 results presentation also demonstrated that the Nova-Bollinger ore bodies are profitable even at today’s nickel price.”

 

St George Mining (ASX:SGQ)

The company has reported an MoU that would see St George and Liaoning Gangda Group, a Chinese steel and heavy mine equipment manufacturer that produces 20Mt of steel products annually, potentially collaborate on the development of the Araxá project.

The high-grade niobium/rare earths project was picked up by St George last year and sits close to the world’s largest and highest grade mine owned by dominant supplier CBMM.

Now 70 years old, CBMM produces over 80% of the world’s primary niobium, though major discoveries in recent years have opened the door for new entrants, likely welcomed by customers keen to sidestep the monopoly.

Liaoning Fangda is one such customer. The 16th most prolific steel producer by volume, it wants to expand capacity to 50Mtpa, something that could make it a top 5 player, with a big focus on niobium rich products used in high-strength applications like construction, bridges, ships, cars and yellow goods.

“The relationship with Fangda – through potential financial and technical support as well as mine development – is another key milestone in de-risking the Project,” SGQ exec chair John Prineas said.

“The global niobium sector has only three primary producers – the global leader being CBMM, with its flagship project located immediately adjacent to the Araxá Project. With extensive near-surface niobium mineralisation already confirmed by historical drilling at the Araxá Project – including more than 500 intercepts of +1% Nb2O5 – as well as access to existing regional infrastructure, St George is continuing to position itself to be the next global player in niobium.”

The companies are aiming to negotiate a binding partnership agreement within nine months of signing Wednesday’s MoU, with potential offtake terms to include exclusive rights for Fangda for 20% of niobium products for the project for up to ten years linked to market prices and a pre-payment loan facility.

Fangda is also looking into opportunities to apply niobium in lithium-ion batteries.

St George is expecting to complete the Araxá acquisition this quarter.

 

Evergreen Lithium (ASX:EG1)

EG1 says last year’s fieldwork at its Bynoe project has confirmed LCT pegmatites (the host rock for lithium) right next to Core Lithium’s (ASX:CXO)  Finniss project in the NT.

“The completion of the 2024 fieldwork program at Bynoe is an exciting milestone for Evergreen and marks a step forward in the company’s exploration strategy as it seeks to unlock the value of Bynoe for shareholders,” chairman Simon Lill, best known as the chair of Hemi gold project founder De Grey mining, said.

“Our geological team has worked diligently and systematically to enhance the understanding of Bynoe and we eagerly await laboratory results to build on recent successes and plan for the 2025 field season.”

There’s also gold potential with large areas showing promise, with assays for gold expected in early 2025.

 

Green Critical Minerals (ASX:GCM)

The company says its Very High Density (VHD) graphite block technology has exceeded industry benchmarks in the first commissioning run of its new pilot plant, with 12 test samples of VHD graphite coins produced for initial testing.

The samples, each measuring 25mm in diameter and 4–7mm in thickness, were designed to test and validate the pilot plant’s full operational cycle.

“Achieving such exceptional density properties on this first commissioning run, without any optimisation, is a testament to the quality and potential of our VHD technology and process,” managing director Clinton Booth said.

“These results validate our confidence in the technology and importantly, position us as leaders in the production of high performance graphite globally.

“To see our unoptimised samples outperforming industry benchmarks, such as nuclear-grade and electrode-grade graphite, demonstrates the transformative capabilities of our innovative VHD Technology.

“This success highlights the environmental and economic advantages of our production process, delivering superior properties faster and at a lower cost than traditional methods.”

Further testing, including thermal conductivity and electrical resistivity, will be evaluated next by external labs to test the material’s performance on these first commissioning run samples.

 

International Graphite (ASX:IG6)

This week the company has secured a fresh $4m grant from the WA Government to fast-track its Springdale-Collie graphite project to go towards bulk extraction at Springdale and get Australia’s first graphite spheroidiser up and running at Collie.

The addition of spheroidising expands the current product qualification milling capability.

“This grant acknowledges the critical importance of building a reliable, sovereign supply of battery graphite materials as quickly as possible and the opportunities this opens for WA to attract trade and investment from international markets,” MD and CEO Andrew Worland said.

“The grant will fund essential activities that will help propel our mine to markets strategy through feasibility to commercialisation.”

This grant brings the total government support to $17.2m, with $12.2m remaining to be drawn.

 

At Stockhead, we tell it like it is. While Green Technology Metals, Lithium Universe, Green Critical Minerals and St George Mining are Stockhead advertisers, they did not sponsor this article.

 

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