High Voltage: Exxon lithium pivot to push lithium narrative into overdrive; EV sales surge in Europe

Oil and gas titan ExxonMobil reveals big bold lithium-producing plans
Despite recent bearish lithium spot prices, EV sales are surging in Europe
S&P Global believes lithium supply will need to increase 270% to meet future demand
Weekly ASX battery metal gainers led by: AZL, WML, ASR

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

If you’re a battery metals investor, there are several reasons to be optimistic about the future of the sector, or at least awake to it. Here are three…

1. Fossil fuels beast Exxon’s big shift into lithium

2. Growing evidence of long-term EV demand with sales picking up

3. Follow-the-money M&A activity in the Aussie lithium scene

And there’s more besides, too. The ducks seem to be lining up for battery metal hunters and producers – you just need to look at the big picture is all.

The “exponential age” is that big, wide-angle lens picture – one that encompasses rapidly accelerating technologies – artificial intelligence, machine learning, biotech, blockchain, clean, efficient energy narratives and more.

Battery metals mining and production and electric-powered vehicles (EVs) very much slots into the “and more” part. Which is not to say it’s not a massive part of the very near future.

American oil and gas energy major ExxonMobil has certainly woken in a cold sweat from its electric dreaming. It’s been known for a while it’s been shifting towards the EV narrative and has now confirmed it’s making a major move into the sector – lithium hunting and producing.

Meanwhile S&P Global sees the neon writing on the wall, too, citing exciting stats in its latest research, which we’ll touch on further below.

Exxon’s head-turning lithium pivot

ExxonMobil announced this week that it plans to start lithium production in Arkansas by 2027, which marks a dramatic shift back into the lithium battery space.

We say ‘back’, because the lithium-ion battery was invented by an Exxon research scientist in the 1970s, before the company decided back then it was an un-scalable narrative, and that fossil fuels were absolutely the way to go for multiple decades.

It’s multiple decades later and Exxon has dubbed its new plan “Project Evergreen”. This is set to involve a partnership with Tetra Technologies to produce battery-ready lithium in bulk.

Earlier this year, ExxonMobil CEO Darren Woods told CNBC that his company expects all new car sales to be electric by 2040. Tesla’s Elon Musk, by the way, has a closer target for that – about 2035.

In early 2023, ExxonMobil gained the rights to 120,000 acres of the Smackover formation in southern Arkansas – “considered one of the most prolific lithium resources of its type in North America” says the company.

Exxon stated on Monday that it’s talking with “potential customers” in the electric vehicle and battery making space. And, by the start of the next decade, the company plans to produce “enough lithium to supply the manufacturing needs of well over a million EVs per year”.

That’s our italicisation there… and it works best if you can imagine it in a Dr Evil voice.

ExxonMobil has begun drilling for Lithium in Arkansas. How quickly will Exxon start processing lithium here in the U.S. for EV batteries. Watch, CNBC's full interview with Exxon Mobil's Dan Ammann @CNBC https://t.co/P1T8yGAsvS

— Phil LeBeau (@Lebeaucarnews) November 13, 2023

Exxon executive Dan Ammann told CNBC this week, too, that the company wants “to get in early” on domestic lithium mining.

And that desire to be a relatively early mover comes as the US and European governments, not to mention other global govs including Australia, begin to ramp up promotion of EVs and reducing fossil fuel consumption. Case in point, this…

Canberra's Parliament House is poised to become a hub for electric vehicle power after the launch of 10 charging stations and plans to install more than 50..https://t.co/JChGaOvbVL

— The Driven (@TheDriven_io) November 13, 2023

There are about 280 million vehicles in the US today, and fewer than 3 million are EVs, or about 1% of the total, Ammann said.

“There is still 99% to go, which suggests it is a very, very big opportunity,” he added. “In the long term, lithium really is a global opportunity.”

Exxon will be going the briny route for its lithium hunt in areas of Arkansas renowned for large lithium-rich saltwater deposits.

It will reportedly be using oil and gas drilling methods to access reservoirs more than 3,000m underground and will then use direct lithium extraction (DLE) tech to separate the lithium from the brine.

Ammann reckons the company’s approach will represent “far fewer environmental impacts than traditional mining operations”, which is a statement that would no doubt infuriate aquatic ecologists.

Still, a chunk of the opportunity is there for Exxon to seize, as the US has just one commercial-scale lithium mining site – run by chemical manufacturing titan Albemarle, in Nevada.

A “global opportunity”, it is indeed, though – and the race is on.

(A lot) more lithium needed: S&P Global

In S&P Global’s most recent Commodity Insights report, a few things jumped out at us, the following absolutely being one of them:

“S&P Global Mobility has forecast that an over 270% increase of lithium production levels is needed to meet forecast demand from the EV battery sector by 2030.”

That’s getting on for almost quadrupling current production levels for an expected boom in uptake of EVs by the beginning of the next decade.

Obviously Exxon wants to be a big part of that, as does a plethora of Aussie resources companies.

And we’re not forgetting this neat recent infographic from Visual Capitalist, which suggests that by 2030, the way things are potentially going, demand for lithium will outstrip supply by 46%.

Lithium is one of the world’s most critical natural resources and is central to our push toward sustainable energy ⚡️

Our sponsor @energyx asks: with over 350M EVs expected to be sold globally by 2030, can we meet tomorrow’s lithium demand?

Find out: https://t.co/u6IlifjAyU pic.twitter.com/TyAazAdSve

— Visual Capitalist (@VisualCap) October 27, 2023

The shorter-term story in the sector, though, as S&P Global notes is one of oversupply:

“The market is currently considered to be in a short-term supply surplus amid better-than-expected progress from eight projects that were due to come online in 2023 located in Australia, Brazil, China and Canada, and two each in Zimbabwe and Argentina,” reads the report.

“High supply chain inventories and consumer spending constrained by a weak macroeconomic environment” have played their parts.

S&P Global also notes, though, that despite recent bearish spot price sentiment for lithium, “there has been a surge of M&A activity in the lithium market as established players look to buy promising junior miners to secure lithium supply”.

Liontown Resources (ASX:LTR) , Wildcat Resources (ASX:WC8) and Delta Lithium (ASX:DLI), for example – as regular readers of Stockhead will be fully aware by now.

Meanwhile, EV sales are actually surging in Europe

Okay, yeah, there’s this, too, from a World Economic Forum report this week, dated November 13.

“Electric vehicle (EV) sales are surging, especially in Europe, where the market grew by 62% in the past 12 months.”

But…

“Mass-market EV adoption still faces barriers such as their high cost and lack of charging infrastructure.”

And…

“Supply chain issues also need to be addressed to ensure the production and affordability of electric cars, a goal that the World Economic Forum’s Resilient and Sustainable Automotive Value Chains initiative supports.”

Righto, WEF – where are you getting that Euro stat? Bloomberg. Which got it from the European Automobile Manufacturers Association (ACEA).

At Stockhead‘s High Voltage, we’re proudly first with the fourth-hand news (collated neatly we hope, with the eyes picked out for your benefit.)

“For the 12 months to July 2023, the region saw a surge of 62% in EV sales,” wrote Andrea Willigie for the WEF… “while diesel sales dropped by 9%, Bloomberg reports…

“In Germany, registrations in July 2023 alone jumped up by nearly 70%, with France and Spain also seeing double-digit growth.”

Here’s a colourful graphic:

And as for other battery metals?

S&P Global says that nickel and cobalt are also expected to be critical, but at a lesser degree to lithium “as deployment of iron-based chemistries will remedy their potential shortage”.

“In the longer term,” notes the report, “the entry and premium EV segments are consolidating toward two battery chemistries – lithium iron phosphate, or LFP, and nickel-cobalt-manganese.

“For light-duty vehicles, high-nickel NCM batteries are forecast to take a near-50% market share by 2030, with LFP and LMFP – or LFP batteries with a higher manganese component – taking close to 30% share by 2030.”

Like “spot lithium”, the price of cobalt, meanwhile, remains under pressure due to supply surplus.

“A surplus in the cobalt market is expected to persist until 2025, with growing supply of cobalt from the Democratic Republic of Congo and Indonesia keeping prices under pressure,” says S&P Global”.

Battery metals form guide

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]

(Note: table’s data accurate as of 5pm, Nov 15.)

Code	Company	Price	% Week	% Month	% Year	% YTD	Market Cap
PVW	PVW Res Ltd	0.055	-4%	-19%	-58%	-4%	$5,577,263
A8G	Australasian Metals	0.18	-10%	-12%	-25%	-1%	$9,381,689
INF	Infinity Lithium	0.11	34%	22%	-48%	-1%	$55,511,051
LPI	Lithium Pwr Int Ltd	0.535	2%	23%	-5%	10%	$337,092,437
PSC	Prospect Res Ltd	0.097	8%	29%	-12%	-2%	$42,065,611
PAM	Pan Asia Metals	0.155	0%	-23%	-60%	-26%	$25,888,322
CXO	Core Lithium	0.38	-1%	1%	-76%	-65%	$801,350,829
LOT	Lotus Resources Ltd	0.29	16%	35%	23%	9%	$481,927,098
AGY	Argosy Minerals Ltd	0.155	-9%	-18%	-78%	-42%	$203,639,087
AZS	Azure Minerals	3.99	2%	66%	1435%	377%	$1,829,425,023
NWC	New World Resources	0.035	9%	21%	3%	0%	$74,637,487
QXR	Qx Resources Limited	0.032	-6%	19%	-47%	-1%	$35,383,291
GSR	Greenstone Resources	0.0065	-7%	-28%	-74%	-3%	$9,557,914
CAE	Cannindah Resources	0.098	9%	-11%	-57%	-14%	$56,651,835
AZL	Arizona Lithium Ltd	0.041	28%	173%	-49%	-2%	$152,664,157
HNR	Hannans Ltd	0.008	14%	14%	-62%	-1%	$19,115,984
COB	Cobalt Blue Ltd	0.285	10%	19%	-53%	-30%	$101,353,165
ESS	Essential Metals Ltd	0.5	0%	4%	1%	18%	$135,278,382
LPD	Lepidico Ltd	0.009	-10%	-22%	-53%	-1%	$68,744,772
MRD	Mount Ridley Mines	0.002	0%	100%	-50%	0%	$15,569,766
CZN	Corazon Ltd	0.017	13%	21%	0%	0%	$9,849,566
LKE	Lake Resources	0.175	0%	-10%	-84%	-63%	$241,815,600
DEV	Devex Resources Ltd	0.265	-5%	-12%	-7%	-2%	$112,503,621
INR	Ioneer Ltd	0.155	-6%	-21%	-74%	-23%	$306,154,761
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	0%	$2,752,409,203
MAN	Mandrake Res Ltd	0.036	0%	0%	-10%	0%	$21,555,357
RLC	Reedy Lagoon Corp.	0.005	0%	-17%	-53%	0%	$3,083,418
GBR	Greatbould Resources	0.062	0%	-2%	-36%	-3%	$31,985,839
FRS	Forrestania Resources	0.029	-3%	-17%	-86%	-11%	$2,966,747
STK	Strickland Metals	0.16	-6%	60%	272%	12%	$252,349,541
MLX	Metals X Limited	0.29	4%	5%	-5%	-10%	$258,570,829
CLA	Celsius Resource Ltd	0.012	9%	0%	9%	0%	$24,706,568
FGR	First Graphene Ltd	0.065	-18%	-38%	-50%	-5%	$42,753,561
HXG	Hexagon Energy	0.009	0%	0%	-40%	-1%	$5,129,159
TLG	Talga Group Ltd	1.13	7%	1%	-21%	-27%	$407,652,214
MNS	Magnis Energy Tech	0.062	-23%	-16%	-85%	-31%	$61,174,406
PLL	Piedmont Lithium Inc	0.44	0%	-21%	-54%	-21%	$152,569,272
EUR	European Lithium Ltd	0.08	0%	14%	-14%	1%	$110,144,895
BKT	Black Rock Mining	0.105	-9%	18%	-36%	-3%	$109,731,964
QEM	QEM Limited	0.19	0%	-5%	3%	1%	$28,764,425
LYC	Lynas Rare Earths	7.08	1%	4%	-16%	-77%	$6,561,449,507
ESR	Estrella Res Ltd	0.006	0%	-14%	-45%	-1%	$10,554,431
ARL	Ardea Resources Ltd	0.52	-5%	-12%	-44%	-19%	$103,170,815
GLN	Galan Lithium Ltd	0.695	18%	1%	-57%	-38%	$210,167,257
JRL	Jindalee Resources	1.08	-4%	-37%	-53%	-81%	$60,315,117
VUL	Vulcan Energy	2.58	4%	-6%	-66%	-375%	$412,421,487
SBR	Sabre Resources	0.041	8%	14%	3%	0%	$16,787,872
CHN	Chalice Mining Ltd	1.69	-8%	-20%	-65%	-461%	$634,010,186
VRC	Volt Resources Ltd	0.007	17%	-13%	-59%	-1%	$28,507,967
NMT	Neometals Ltd	0.26	4%	-24%	-76%	-54%	$143,860,064
AXN	Alliance Nickel Ltd	0.055	-4%	0%	-32%	-4%	$40,647,018
PNN	Power Minerals Ltd	0.26	4%	4%	-54%	-27%	$21,110,714
IGO	IGO Limited	9.25	-1%	-20%	-40%	-421%	$6,792,692,283
GED	Golden Deeps	0.053	6%	2%	-47%	-4%	$6,122,684
ADV	Ardiden Ltd	0.005	0%	-17%	-44%	0%	$16,130,012
SRI	Sipa Resources Ltd	0.021	0%	11%	-53%	-1%	$4,791,321
NTU	Northern Min Ltd	0.03	-9%	3%	-25%	-1%	$183,240,357
AXE	Archer Materials	0.41	-2%	-7%	-38%	-21%	$101,938,805
PGM	Platina Resources	0.0295	18%	23%	55%	1%	$16,202,689
AAJ	Aruma Resources Ltd	0.036	3%	6%	-51%	-2%	$6,497,420
IXR	Ionic Rare Earths	0.027	29%	13%	-34%	-1%	$102,858,728
NIC	Nickel Industries	0.805	-1%	1%	-16%	-17%	$3,407,218,855
EVG	Evion Group NL	0.035	-5%	13%	-64%	-4%	$12,454,531
CWX	Carawine Resources	0.105	0%	-21%	24%	1%	$20,665,834
PLS	Pilbara Min Ltd	3.67	-1%	-12%	-24%	-8%	$10,563,213,937
HAS	Hastings Tech Met	0.835	5%	14%	-77%	-269%	$104,786,988
BUX	Buxton Resources Ltd	0.19	-13%	-10%	73%	8%	$31,911,925
ARR	American Rare Earths	0.145	4%	12%	-28%	-5%	$66,963,495
SGQ	St George Min Ltd	0.037	-18%	-8%	-50%	-3%	$36,809,687
TKL	Traka Resources	0.0045	-10%	-25%	-25%	0%	$3,938,982
PAN	Panoramic Resources	0.035	0%	-8%	-81%	-14%	$103,937,992
PRL	Province Resources	0.041	0%	0%	-49%	-2%	$48,441,219
IPT	Impact Minerals	0.012	9%	20%	71%	1%	$34,376,447
LIT	Lithium Australia	0.033	0%	3%	-33%	-1%	$40,332,325
AKE	Allkem Limited	9.12	-2%	-22%	-36%	-212%	$5,510,949,546
ARN	Aldoro Resources	0.083	-3%	-13%	-78%	-8%	$11,173,771
JRV	Jervois Global Ltd	0.037	3%	-3%	-91%	-23%	$91,885,703
MCR	Mincor Resources NL	0	-100%	-100%	-100%	-151%	$751,215,521
SYR	Syrah Resources	0.755	-7%	56%	-70%	-131%	$493,405,343
FBM	Future Battery	0.09	6%	-25%	64%	4%	$45,381,633
ADD	Adavale Resource Ltd	0.008	0%	-27%	-71%	-1%	$6,208,139
LTR	Liontown Resources	1.525	-3%	-45%	-26%	21%	$3,621,645,259
CTM	Centaurus Metals Ltd	0.5	-6%	-6%	-57%	-62%	$236,599,863
VML	Vital Metals Limited	0.01	0%	0%	-67%	-1%	$53,061,498
BSX	Blackstone Ltd	0.099	9%	-14%	-43%	-4%	$44,526,757
POS	Poseidon Nick Ltd	0.0195	15%	15%	-55%	-2%	$63,039,020
CHR	Charger Metals	0.33	10%	136%	-47%	-12%	$21,118,885
AVL	Aust Vanadium Ltd	0.023	0%	-15%	-26%	0%	$119,246,563
AUZ	Australian Mines Ltd	0.015	7%	7%	-78%	-4%	$10,941,481
TMT	Technology Metals	0.23	2%	-10%	-33%	-12%	$57,214,346
RXL	Rox Resources	0.21	-2%	-7%	17%	4%	$75,606,733
RNU	Renascor Res Ltd	0.16	-6%	39%	-40%	-6%	$406,305,200
GL1	Globallith	1.335	9%	-1%	-42%	-51%	$334,020,586
BRB	Breaker Res NL	0	-100%	-100%	-100%	-32%	$158,126,031
ASN	Anson Resources Ltd	0.165	0%	14%	-34%	-2%	$225,004,355
SYA	Sayona Mining Ltd	0.081	-7%	-12%	-66%	-11%	$823,463,681
FFX	Firefinch Ltd	0.2	0%	0%	0%	0%	$236,569,315
EGR	Ecograf Limited	0.2	3%	60%	-41%	-2%	$92,781,335
ATM	Aneka Tambang	1.18	0%	-1%	18%	28%	$1,544,824
TVN	Tivan Limited	0.074	-9%	3%	-18%	0%	$116,237,629
ALY	Alchemy Resource Ltd	0.011	0%	10%	-62%	-1%	$12,958,839
GAL	Galileo Mining Ltd	0.29	-2%	-11%	-75%	-59%	$60,275,603
BHP	BHP Group Limited	46.84	5%	4%	7%	121%	$233,263,404,998
LEL	Lithenergy	0.59	-9%	5%	-43%	-18%	$59,745,800
MMC	Mitremining	0.24	14%	0%	23%	-4%	$10,884,024
RMX	Red Mount Min Ltd	0.004	0%	0%	-11%	0%	$10,694,304
GW1	Greenwing Resources	0.15	15%	3%	-61%	-13%	$24,395,207
AQD	Ausquest Limited	0.013	30%	8%	-28%	0%	$9,076,641
LML	Lincoln Minerals	0.008	14%	0%	17%	0%	$11,856,917
1MC	Morella Corporation	0.006	0%	9%	-67%	-1%	$36,981,556
REE	Rarex Limited	0.03	0%	0%	-41%	-2%	$20,501,597
MRC	Mineral Commodities	0.033	0%	12%	-49%	-3%	$27,959,952
PUR	Pursuit Minerals	0.009	-10%	13%	-18%	-1%	$29,439,714
QPM	Queensland Pacific	0.056	-5%	-14%	-69%	-5%	$112,700,158
EMH	European Metals Hldg	0.62	0%	-1%	-29%	-2%	$77,392,969
BMM	Balkan mining and minerals	0.16	33%	-6%	-50%	-17%	$9,977,040
PEK	Peak Rare Earths Ltd	0.395	1%	-2%	-6%	-6%	$105,856,586
LEG	Legend Mining	0.022	0%	-19%	-42%	-2%	$60,994,021
MOH	Moho Resources	0.01	67%	25%	-58%	-1%	$2,720,355
AML	Aeon Metals Ltd.	0.008	-20%	-47%	-73%	-2%	$8,771,205
G88	Golden Mile Res Ltd	0.025	4%	25%	12%	0%	$8,564,127
WKT	Walkabout Resources	0.15	-8%	36%	-13%	1%	$96,679,482
TON	Triton Min Ltd	0.022	-12%	5%	-19%	-1%	$35,911,271
AR3	Austrare	0.185	-8%	-8%	-51%	-22%	$29,291,533
ARU	Arafura Rare Earths	0.19	-12%	-16%	-46%	-28%	$401,539,291
MIN	Mineral Resources	62.8	6%	0%	-22%	-1440%	$11,676,052,123
VMC	Venus Metals Cor Ltd	0.1	-5%	-13%	19%	2%	$18,972,868
S2R	S2 Resources	0.18	0%	-16%	16%	1%	$71,766,016
CNJ	Conico Ltd	0.004	-20%	-20%	-60%	0%	$6,280,380
VR8	Vanadium Resources	0.045	-8%	-10%	-31%	-1%	$22,603,399
PVT	Pivotal Metals Ltd	0.021	5%	5%	-48%	-2%	$11,505,234
BOA	Boadicea Resources	0.044	13%	13%	-50%	-5%	$5,169,793
IPX	Iperionx Limited	1.49	-4%	12%	108%	80%	$326,203,635
SLZ	Sultan Resources Ltd	0.016	0%	-16%	-83%	-7%	$2,222,851
NKL	Nickelxltd	0.065	2%	7%	-31%	-2%	$5,532,356
NVA	Nova Minerals Ltd	0.25	-4%	-2%	-71%	-43%	$52,722,490
MLS	Metals Australia	0.037	3%	12%	-5%	-1%	$23,089,339
MQR	Marquee Resource Ltd	0.03	15%	11%	-45%	-1%	$11,988,147
MRR	Minrex Resources Ltd	0.0145	-3%	-15%	-68%	-2%	$16,273,013
EVR	Ev Resources Ltd	0.012	9%	-14%	-43%	0%	$10,392,578
EFE	Eastern Resources	0.012	33%	20%	-74%	-2%	$13,661,411
CNB	Carnaby Resource Ltd	0.6	-18%	-30%	-31%	-34%	$104,221,656
BNR	Bulletin Resources	0.175	0%	46%	25%	8%	$48,442,532
AX8	Accelerate Resources	0.052	30%	73%	79%	3%	$23,600,110
AM7	Arcadia Minerals	0.089	11%	-15%	-66%	-12%	$9,705,459
AS2	Askari Metals	0.19	23%	0%	-55%	-25%	$14,639,540
BYH	Bryah Resources Ltd	0.019	58%	41%	-23%	-1%	$6,813,500
DTM	Dart Mining NL	0.019	6%	-12%	-71%	-4%	$3,683,066
EMS	Eastern Metals	0.033	10%	6%	-72%	-4%	$2,720,066
FG1	Flynngold	0.074	9%	23%	-30%	-3%	$10,910,607
GSM	Golden State Mining	0.023	-8%	-38%	-50%	-2%	$4,012,854
IMI	Infinity Mining	0.12	9%	-11%	-57%	-16%	$9,343,166
LRV	Larvotto Resources	0.12	-8%	-4%	-33%	-4%	$8,070,567
LSR	Lodestar Minerals	0.004	0%	-20%	-20%	0%	$8,093,589
RAG	Ragnar Metals Ltd	0.024	-4%	0%	26%	1%	$11,375,543
CTN	Catalina Resources	0.004	14%	0%	-56%	-1%	$4,334,704
TMB	Tambourah Metals	0.135	-13%	8%	-21%	3%	$12,441,053
TEM	Tempest Minerals	0.009	13%	6%	-68%	-1%	$5,625,218
EMC	Everest Metals Corp	0.095	8%	-24%	-5%	2%	$16,001,745
WML	Woomera Mining Ltd	0.024	41%	140%	60%	1%	$26,261,280
KZR	Kalamazoo Resources	0.11	10%	13%	-57%	-10%	$20,564,337
LMG	Latrobe Magnesium	0.055	20%	17%	-33%	-2%	$94,965,468
KOR	Korab Resources	0.016	0%	0%	-54%	-1%	$5,872,800
CMX	Chemx materials	0.076	-5%	-6%	-55%	-11%	$4,311,837
NC1	Nico resources	0.34	5%	-7%	-41%	-27%	$35,677,693
GRE	Greentech metals	0.77	-9%	175%	470%	63%	$46,960,666
CMO	Cosmo metals	0.049	-2%	-6%	-69%	-9%	$1,734,833
FRB	Firebird Metals	0.175	13%	21%	-17%	2%	$16,137,625
S32	South32 Limited	3.23	4%	-8%	-25%	-77%	$14,357,749,661
OMH	OM Holdings Limited	0.475	6%	0%	-35%	-22%	$328,687,385
JMS	Jupiter Mines.	0.18	-3%	-5%	0%	-4%	$352,618,386
E25	Element 25 Ltd	0.43	12%	5%	-70%	-45%	$96,800,999
EMN	Euromanganese	0.105	5%	-19%	-68%	-25%	$27,039,703
KGD	Kula Gold	0.021	75%	62%	-50%	0%	$5,224,967
LRS	Latin Resources Ltd	0.23	-13%	-22%	119%	13%	$623,813,895
CRR	Critical Resources	0.03	3%	-19%	-47%	-1%	$55,113,359
ENT	Enterprise Metals	0.004	33%	0%	-56%	-1%	$3,197,884
SCN	Scorpion Minerals	0.055	8%	0%	-21%	-2%	$18,375,428
GCM	Green Critical Min	0.008	0%	14%	-38%	-1%	$7,387,803
ENV	Enova Mining Limited	0.007	17%	0%	-36%	-1%	$4,486,505
RBX	Resource B	0.1	-23%	-29%	11%	2%	$9,095,293
AKN	Auking Mining Ltd	0.047	18%	-18%	-53%	-5%	$7,960,045
RR1	Reach Resources Ltd	0.006	-50%	-50%	20%	0%	$19,261,783
EMT	Emetals Limited	0.007	0%	0%	-63%	0%	$5,950,000
PNT	Panthermetalsltd	0.076	9%	7%	-58%	-11%	$4,586,250
WIN	Widgie nickel	0.16	-6%	-22%	-57%	-17%	$48,416,071
WMG	Western Mines	0.265	-5%	-18%	121%	11%	$18,677,833
AVW	Avira Resources Ltd	0.002	0%	0%	-33%	0%	$4,267,580
CAI	Calidus Resources	0.175	-5%	17%	-58%	-10%	$103,740,291
GT1	Green technology	0.45	15%	-6%	-56%	-38%	$95,839,885
KAI	Kairos Minerals Ltd	0.016	-6%	-20%	-43%	0%	$44,555,507
MTM	MTM Critical Metals	0.025	9%	-24%	-75%	-5%	$2,384,090
NWM	Norwest Minerals	0.034	6%	17%	-52%	-2%	$8,627,085
PGD	Peregrine Gold	0.285	-8%	14%	-39%	-10%	$15,807,848
RAS	Ragusa Minerals Ltd	0.054	26%	46%	-72%	-6%	$7,129,939
RGL	Riversgold	0.011	22%	-15%	-74%	-2%	$12,366,399
SRZ	Stellar Resources	0.009	0%	-18%	-25%	0%	$9,883,678
STM	Sunstone Metals Ltd	0.017	-6%	6%	-41%	-2%	$50,852,751
ZNC	Zenith Minerals Ltd	0.175	35%	75%	-39%	-9%	$59,904,750
WC8	Wildcat Resources	0.79	-8%	84%	2721%	77%	$811,862,614
ASO	Aston Minerals Ltd	0.036	3%	-5%	-49%	-4%	$45,327,249
THR	Thor Energy PLC	0.027	8%	0%	-70%	-3%	$4,848,800
YAR	Yari Minerals Ltd	0.016	7%	23%	-27%	0%	$8,200,083
IG6	International graphite	0.19	9%	15%	-40%	-8%	$16,907,741
LPM	Lithium Plus	0.495	-4%	5%	-23%	13%	$43,853,982
ODE	Odessa Minerals	0.01	0%	0%	-39%	-1%	$7,576,895
KOB	Koba Resources	0.084	0%	11%	-57%	-6%	$8,855,000
AZI	Altamin Limited	0.059	-3%	-6%	-34%	-2%	$23,111,288
FTL	Firetail Resources	0.105	5%	8%	-38%	-6%	$14,890,556
LNR	Lanthanein Resources	0.007	-13%	-13%	-81%	-1%	$7,851,029
CLZ	Classic Min Ltd	0.001	0%	0%	-92%	-1%	$12,357,082
NVX	Novonix Limited	0.72	-5%	6%	-73%	-75%	$349,356,289
OCN	Oceana lithium	0.125	0%	-26%	-79%	-22%	$6,634,563
SUM	Summit minerals	0.11	10%	0%	-50%	-4%	$5,480,570
DVP	Develop Global Ltd	2.95	-2%	-7%	11%	-23%	$714,562,998
XTC	Xantippe Res Ltd	0.001	0%	0%	-78%	0%	$17,528,005
OD6	Od6 Metals	0.195	8%	22%	-54%	-14%	$10,452,944
HRE	Heavy Rare Earths	0.09	6%	25%	-50%	-3%	$5,564,890
LIN	Lindian Resources	0.165	-8%	-15%	-20%	1%	$190,067,169
PEK	Peak Rare Earths Ltd	0.395	1%	-2%	-6%	-6%	$105,856,586
ILU	Iluka Resources	7.47	3%	1%	-26%	-206%	$3,046,130,959
ASM	Ausstratmaterials	1.695	5%	15%	-9%	26%	$275,179,139
ETM	Energy Transition	0.035	6%	-8%	-30%	-3%	$47,602,033
VMS	Venture Minerals	0.011	10%	10%	-54%	-1%	$21,450,143
IDA	Indiana Resources	0.058	5%	0%	2%	0%	$36,746,224
VTM	Victory Metals Ltd	0.23	-18%	-2%	-2%	1%	$18,606,921
M2R	Miramar	0.024	9%	-45%	-74%	-5%	$3,275,130
WCN	White Cliff Min Ltd	0.012	0%	-8%	-33%	0%	$13,827,204
TAR	Taruga Minerals	0.01	0%	0%	-71%	-1%	$7,060,268
ABX	ABX Group Limited	0.07	-1%	-7%	-52%	-5%	$18,175,561
MEK	Meeka Metals Limited	0.037	6%	0%	-44%	-3%	$42,694,522
DRE	Dreadnought Resources Ltd	0.033	0%	-27%	-67%	-7%	$117,536,140
KFM	Kingfisher Mining	0.155	15%	-9%	-71%	-32%	$8,325,825
AOA	Ausmon Resorces	0.003	0%	0%	-50%	0%	$3,020,998
WC1	Westcobarmetals	0.065	7%	-14%	-72%	-11%	$6,313,688
GRL	Godolphin Resources	0.035	0%	-5%	-61%	-5%	$5,923,471
DM1	Desert Metals	0.041	5%	3%	-87%	-15%	$2,901,643
PTR	Petratherm Ltd	0.044	-4%	-14%	-23%	-1%	$11,237,557
ITM	Itech Minerals Ltd	0.165	14%	40%	-37%	-10%	$18,938,452
KTA	Krakatoa Resources	0.043	65%	126%	-30%	0%	$18,265,713
M24	Mamba Exploration	0.03	3%	-33%	-76%	-12%	$1,829,500
TKM	Trek Metals Ltd	0.05	-2%	52%	-48%	-3%	$25,877,284
BCA	Black Canyon Limited	0.14	0%	-3%	-36%	-10%	$9,239,212
CDT	Castle Minerals	0.011	10%	10%	-52%	-1%	$13,307,173
DLI	Delta Lithium	0.49	-11%	-29%	-14%	3%	$261,544,665
A11	Atlantic Lithium	0.565	41%	9%	-35%	-6%	$235,713,039
KNI	Kunikolimited	0.275	-2%	-8%	-54%	-24%	$22,765,161
CY5	Cygnus Metals Ltd	0.155	-7%	-3%	-70%	-23%	$46,406,822
WR1	Winsome Resources	1.27	-7%	3%	36%	4%	$220,217,855
LLI	Loyal Lithium Ltd	0.42	-2%	-21%	-32%	13%	$34,603,975
BC8	Black Cat Syndicate	0.275	31%	41%	-28%	-8%	$85,054,296
BUR	Burleyminerals	0.175	-19%	9%	-27%	-5%	$21,272,319
PBL	Parabellum Resources	0.345	0%	0%	-30%	1%	$18,879,263
L1M	Lightning Minerals	0.14	8%	4%	0%	-3%	$5,701,509
WA1	Wa1 Resources	9.81	-11%	107%	454%	842%	$435,027,681
EV1	Evolutionenergy	0.14	0%	-3%	-47%	-9%	$24,550,784
1AE	Auroraenergymetals	0.092	-6%	-8%	-56%	-6%	$15,761,486
RVT	Richmond Vanadium	0.36	0%	-3%	0%	13%	$31,034,810
PMT	Patriot Battery Metals	1.085	-1%	-10%	0%	34%	$408,716,152
PAT	Patriot Lithium	0.215	2%	26%	0%	-5%	$13,735,813
BM8	Battery Age Minerals	0.2	0%	-13%	-60%	-30%	$17,827,378
OM1	Omnia Metals Group	0.078	0%	0%	-46%	-8%	$3,786,192
VHM	Vhmlimited	0.595	25%	29%	0%	0%	$78,497,224
LLL	Leo Lithium	0.505	0%	0%	-13%	2%	$498,553,663
SRN	Surefire Rescs NL	0.01	-9%	-23%	-23%	0%	$18,367,531
SRL	Sunrise	0.7	-1%	-7%	-65%	-122%	$61,805,836
EG1	Evergreen Lithium	0.185	3%	-29%	0%	0%	$10,121,400
WSR	Westar Resources	0.02	-5%	-5%	-56%	-3%	$3,707,150
LU7	Lithium Universe	0.039	-3%	-20%	30%	1%	$14,763,832
MEI	Meteoric Resources	0.245	-6%	23%	1650%	19%	$466,477,710
REC	Recharge Metals	0.135	13%	-18%	-18%	0%	$15,032,516
SLM	Solis Minerals	0.22	-6%	-20%	238%	15%	$16,348,228
DYM	Dynamic Metals	0.18	-12%	-3%	0%	0%	$6,300,000
TOR	Torque Metals	0.16	-18%	-53%	-3%	-2%	$23,566,335
ICL	Iceni Gold	0.059	2%	-18%	-3%	-2%	$14,391,429
TMX	Terrain Minerals	0.004	-20%	0%	-38%	0%	$6,090,425
MHC	Manhattan Corp	0.004	-11%	0%	-33%	0%	$11,747,919
MHK	Metalhawk	0.18	-23%	114%	-18%	2%	$14,178,782
ANX	Anax Metals Ltd	0.032	0%	-9%	-42%	-2%	$15,870,282
FIN	FIN Resources	0.031	-3%	35%	48%	1%	$21,422,567
LM1	Leeuwin Metals	0.23	-13%	-29%	0%	0%	$13,659,425
HAW	Hawthorn Resources	0.092	-8%	1%	7%	-2%	$33,166,546
LCY	Legacy Iron Ore	0.017	6%	-15%	6%	0%	$102,509,219
RON	Ronin Resources	0.18	44%	29%	13%	2%	$6,326,648
PFE	Pantera Minerals	0.062	7%	5%	-58%	-43%	$6,640,000
ASR	Asra Minerals	0.014	56%	75%	-30%	-1%	$20,386,879