High Voltage: Global lithium production could double between 2021-2024. It still won’t be enough

Resources and Energy Quarterly doesn’t see spodumene prices slowing down until 2024
World lithium output estimated to reach 691,000 tonnes in 2022 and 1,087,000 tonnes in 2024
Weekly battery metals standouts: Green Critical Minerals, Pursuit Minerals, Balkan Mining & Minerals

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

No one expects current lithium prices – which are earning producers like Pilbara Minerals (ASX:PLS) and Allkem (ASX:AKE) outrageous super profits — to remain as high over the long term.

The consensus long term price forecast is about ~$22,000/t LCE, a yardstick measure of how ridiculously off-the-charts lithium pricing has been in 2022.

At $US22,000/t, most producers and near-term producers should still be making big profits, based on current and project operating costs.

It’s important to recognise that the prices above $US70,000/t you see bandied about are spot prices, which are only a small part of the lithium market.

Most supply is locked up in long term contracts.

And while, spot prices may be softening ever so slightly right now, contract pricing – which lags spot — isn’t.

In fact, those prices are still going up.

Even the Government’s conservative Resources and Energy Quarterly doesn’t see spodumene prices slowing down until 2024.

“As most Australian producers have historically utilised long-term contracts, prices received take time to adjust to shifts in spot prices,” it says.

“High prices reported by Australian producers confirm spot prices are now flowing more rapidly into contract prices.”

Spodumene prices to keep rising in 2023

Spodumene prices are estimated to rise from an average of US$598 a tonne in 2021 to US$2,700 a tonne in 2022, and US$4,010 a tonne in 2023, before moderating to US$3,130 in 2024, it says.

Lithium hydroxide prices are expected to lift from US$17,370 a tonne in 2021 to US$39,900 in 2022 and US$61,200 in 2023, moderating to US$48,500 by 2024.

This will send the value of Aussie lithium exports through the roof.

“Australia’s lithium production is forecast to grow from 335,000 tonnes of lithium carbonate equivalent (LCE) in 2021–22 to 399,000 tonnes in 2022–23 and 470,000 tonnes of LCE in 2023–24,” it says.

“In 2022–23 Australia’s export earnings are forecast to more than triple — from $4.9 billion in 2021–22 to $16.1 billion, and $17.0 billion in 2023–24.”

Global lithium production will double between 2021-2024 …

… but it still won’t enough to meet ravenous demand from the EV sector.

World lithium output was 551,000 tonnes LCE in 2021. It is estimated to reach 691,000 tonnes in 2022 and 1,087,000 tonnes in 2024, according to Resources and Energy Quarterly.

This rapid growth – forecast to be met by gains in output in Australia, Chile and Argentina – will be insufficient to meet demand.

“A supply gap is forecast to persist over the outlook period, with total supply from both mine and brine operations currently insufficient to meet demand,” it says.

“With new lithium projects being developed rapidly, the supply gap is expected to reduce over the outlook but will take time to close.

“Lithium stockpiles remain hard to ascertain, with some estimates of 4-8 weeks for spodumene.”

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	1 WEEK RETURN %	1 MONTH RETURN %	6 MONTH RETURN %	1 YEAR RETURN %	PRICE	MARKET CAP
GCM	Green Critical Min	56%	47%	65%	88%	0.025	$23,315,487
PUR	Pursuit Minerals	33%	45%	-11%	-43%	0.016	$16,969,046
BMM	Balkanminingandmin	25%	19%	95%	-8%	0.37	$16,344,087
PGD	Peregrine Gold	21%	-6%	30%	6%	0.46	$20,538,501
KZR	Kalamazoo Resources	18%	-2%	-10%	-39%	0.225	$34,228,456
THR	Thor Mining PLC	17%	-22%	-22%	-50%	0.007	$10,095,490
ETM	Energy Transition	15%	12%	12%	-33%	0.055	$71,854,433
TKL	Traka Resources	14%	60%	0%	-38%	0.008	$5,510,196
GRE	Greentechmetals	14%	7%	-43%	0%	0.16	$5,327,850
CNJ	Conico Ltd	13%	-10%	-67%	-75%	0.009	$11,639,745
FRS	Forrestaniaresources	12%	-26%	-10%	-52%	0.14	$7,601,413
AR3	Austrare	11%	11%	1%	-55%	0.395	$37,604,613
MRD	Mount Ridley Mines	11%	0%	-17%	-38%	0.005	$35,031,973
BOA	Boadicea Resources	10%	16%	-19%	-44%	0.11	$8,935,488
LSR	Lodestar Minerals	10%	10%	-21%	-42%	0.0055	$9,561,405
LEG	Legend Mining	9%	0%	-32%	-38%	0.036	$99,184,886
WC1	Westcobarmetals	9%	0%	50%	29%	0.18	$16,108,910
SRZ	Stellar Resources	8%	-7%	-32%	-43%	0.013	$13,060,202
CMO	Cosmometalslimited	8%	-4%	13%	0%	0.135	$3,571,400
NWM	Norwest Minerals	8%	-17%	80%	-18%	0.054	$11,549,584
PTR	Petratherm Ltd	8%	-7%	-43%	23%	0.054	$12,136,562
KOR	Korab Resources	7%	-12%	38%	-48%	0.029	$10,644,450
LMG	Latrobe Magnesium	7%	-8%	36%	-18%	0.076	$115,124,711
GME	GME Resources Ltd	7%	17%	-4%	68%	0.096	$61,038,097
TMT	Technology Metals	6%	0%	13%	17%	0.35	$73,438,595
SCN	Scorpion Minerals	6%	-4%	3%	0%	0.074	$26,696,495
HNR	Hannans Ltd	6%	-10%	-10%	-44%	0.019	$49,042,887
WML	Woomera Mining Ltd	6%	27%	7%	13%	0.019	$19,123,224
AML	Aeon Metals Ltd.	5%	-2%	28%	-26%	0.0295	$31,795,618
GRL	Godolphin Resources	5%	1%	-20%	-40%	0.084	$9,943,034
JMS	Jupiter Mines.	5%	13%	10%	5%	0.215	$430,978,027
BC8	Black Cat Syndicate	5%	-7%	-11%	-35%	0.325	$69,855,232
VML	Vital Metals Limited	4%	-14%	-44%	-51%	0.024	$122,041,444
CDT	Castle Minerals	4%	14%	-7%	0%	0.025	$22,988,339
ODE	Odessa Minerals Ltd	4%	-9%	32%	190%	0.0145	$8,411,248
PRL	Province Resources	3%	-19%	5%	-56%	0.062	$72,071,082
GBR	Greatbould Resources	3%	1%	34%	-27%	0.095	$38,808,312
RXL	Rox Resources	3%	0%	-42%	-51%	0.17	$36,923,634
NC1	Nicoresourceslimited	3%	22%	-6%	0%	0.73	$64,185,251
POS	Poseidon Nick Ltd	3%	-12%	-19%	-58%	0.038	$119,606,288
NTU	Northern Min Ltd	3%	0%	3%	-20%	0.04	$192,950,545
CNB	Carnaby Resource Ltd	3%	-2%	3%	79%	0.805	$115,648,715
WKT	Walkabout Resources	2%	-38%	-38%	-30%	0.1075	$66,350,262
QPM	Queensland Pacific	2%	-38%	7%	-32%	0.1125	$200,830,011
EMH	European Metals Hldg	2%	-8%	-5%	-50%	0.685	$83,672,939
CAE	Cannindah Resources	2%	2%	39%	43%	0.25	$137,057,488
IDA	Indiana Resources	2%	-5%	2%	-15%	0.053	$24,440,241
BRB	Breaker Res NL	2%	5%	54%	7%	0.315	$107,627,685
OMH	OM Holdings Limited	1%	0%	-11%	-16%	0.715	$539,195,036
CWX	Carawine Resources	1%	7%	-25%	-48%	0.094	$18,500,842
OZL	OZ Minerals	1%	1%	37%	1%	27.62	$9,172,014,069
ARU	Arafura Rare Earths	1%	-3%	44%	149%	0.4475	$953,549,634
E25	Element 25 Ltd	0%	-10%	97%	-18%	1.045	$203,079,103
VIA	Viagold Rare Earth	0%	0%	0%	0%	2	$166,624,808
PAM	Pan Asia Metals	0%	-11%	-14%	-6%	0.42	$61,679,348
GSR	Greenstone Resources	0%	8%	-44%	4%	0.027	$27,939,053
LPD	Lepidico Ltd	0%	-18%	-48%	-62%	0.014	$99,291,026
AVZ	AVZ Minerals Ltd	0%	0%	0%	8%	0.78	$2,752,409,203
CLA	Celsius Resource Ltd	0%	7%	-11%	-11%	0.016	$24,045,265
QEM	QEM Limited	0%	0%	-8%	0%	0.18	$24,325,842
GED	Golden Deeps	0%	0%	-29%	-17%	0.01	$11,552,267
LIT	Lithium Australia	0%	-13%	-34%	-56%	0.046	$54,953,625
FFX	Firefinch Ltd	0%	0%	-13%	-20%	0.2	$236,248,644
LML	Lincoln Minerals	0%	0%	0%	0%	0.006854	$3,941,168
S2R	S2 Resources	0%	0%	14%	-8%	0.165	$58,884,351
CTN	Catalina Resources	0%	-11%	0%	-11%	0.008	$11,146,382
CMX	Chemxmaterials	0%	15%	12%	0%	0.19	$8,904,564
ENT	Enterprise Metals	0%	-10%	-18%	-30%	0.009	$6,345,726
RR1	Reach Resources Ltd	0%	25%	0%	-38%	0.005	$9,550,253
AVW	Avira Resources Ltd	0%	0%	-14%	-45%	0.003	$6,401,370
ZNC	Zenith Minerals Ltd	0%	-19%	-17%	16%	0.25	$86,072,072
KOB	Kobaresourceslimited	0%	-14%	3%	0%	0.15	$9,750,000
VMS	Venture Minerals	0%	-14%	-23%	-37%	0.024	$42,298,982
WCN	White Cliff Min Ltd	0%	-12%	-21%	-12%	0.015	$10,545,993
MEK	Meeka Metals Limited	0%	-4%	33%	62%	0.068	$73,665,016
RR1	Reach Resources Ltd	0%	25%	0%	-38%	0.005	$9,550,253
S32	South32 Limited	0%	4%	-2%	5%	4.08	$18,898,697,892
HAS	Hastings Tech Met	-1%	1%	-14%	-22%	3.6	$454,766,352
IPX	Iperionx Limited	-1%	-5%	-11%	-19%	0.71	$120,713,972
DRE	Dreadnought Resources Ltd	-1%	-4%	114%	137%	0.09	$283,318,129
RDT	Red Dirt Metals Ltd	-1%	-28%	19%	-25%	0.435	$187,256,620
EVG	Evion Group NL	-1%	-19%	4%	-36%	0.074	$21,215,113
EMN	Euromanganese	-1%	-8%	45%	-24%	0.34	$80,967,290
OD6	Od6Metalsltd	-2%	-30%	0%	0%	0.315	$16,035,661
LYC	Lynas Rare Earths	-2%	-4%	-6%	-10%	8.13	$7,448,749,226
DVP	Develop Global Ltd	-2%	-5%	30%	-34%	2.78	$474,999,610
NVX	Novonix Limited	-2%	-29%	-31%	-81%	1.735	$861,423,430
STK	Strickland Metals	-2%	-9%	-41%	-42%	0.04	$57,476,080
NKL	Nickelxltd	-2%	-25%	-34%	-31%	0.079	$6,301,567
BHP	BHP Group Limited	-3%	4%	7%	24%	45.6	$232,977,087,370
MRC	Mineral Commodities	-3%	-8%	-25%	-30%	0.069	$37,440,897
TLG	Talga Group Ltd	-3%	9%	31%	-7%	1.43	$483,103,555
GW1	Greenwing Resources	-3%	-10%	37%	-14%	0.315	$39,765,815
AKN	Auking Mining Ltd	-3%	-11%	22%	-33%	0.093	$10,320,730
FTL	Firetail Resources	-3%	-12%	-51%	0%	0.15	$10,725,000
ESR	Estrella Res Ltd	-3%	4%	-31%	-37%	0.0145	$22,253,578
EMC	Everest Metals Corp	-3%	16%	-17%	-38%	0.087	$8,514,649
M24	Mamba Exploration	-3%	32%	99%	-24%	0.145	$5,482,750
MLX	Metals X Limited	-3%	-2%	-28%	-40%	0.285	$254,034,499
AX8	Accelerate Resources	-3%	0%	-10%	-24%	0.028	$8,708,777
VMC	Venus Metals Cor Ltd	-4%	-7%	-28%	-21%	0.13	$23,150,229
VUL	Vulcan Energy	-4%	-13%	19%	-48%	6.39	$935,979,516
AOU	Auroch Minerals Ltd	-4%	-12%	-24%	-59%	0.051	$21,742,327
AVL	Aust Vanadium Ltd	-4%	-14%	-26%	-14%	0.025	$102,926,347
TEM	Tempest Minerals	-4%	-14%	-32%	14%	0.025	$12,114,388
CHN	Chalice Mining Ltd	-4%	34%	51%	-27%	6.2	$2,389,487,182
IGO	IGO Limited	-4%	-9%	32%	29%	14.04	$10,654,758,129
A8G	Australasian Metals	-4%	-2%	7%	-58%	0.225	$9,263,361
CRR	Critical Resources	-4%	-15%	-2%	15%	0.045	$71,002,723
FGR	First Graphene Ltd	-4%	-12%	-12%	-48%	0.11	$63,944,803
G88	Golden Mile Res Ltd	-4%	-4%	-45%	-57%	0.022	$4,500,975
PEK	Peak Rare Earths Ltd	-4%	-6%	12%	-49%	0.435	$89,381,062
RBX	Resource B	-4%	-3%	-40%	-54%	0.087	$4,281,436
PEK	Peak Rare Earths Ltd	-4%	-6%	12%	-49%	0.435	$89,381,062
NIC	Nickel Industries	-4%	3%	-8%	-29%	0.965	$2,703,960,762
AGY	Argosy Minerals Ltd	-5%	-11%	70%	103%	0.5775	$814,556,349
NWC	New World Resources	-5%	-5%	-2%	-53%	0.0315	$61,224,142
SYA	Sayona Mining Ltd	-5%	-5%	50%	68%	0.21	$1,823,646,623
MOH	Moho Resources	-5%	-16%	-22%	-66%	0.021	$4,568,568
DTM	Dart Mining NL	-5%	-13%	5%	-24%	0.062	$9,470,870
PNT	Panthermetalsltd	-5%	8%	5%	14%	0.2	$5,996,250
SLZ	Sultan Resources Ltd	-5%	-17%	-21%	-54%	0.079	$6,662,751
SUM	Summitminerals	-5%	-18%	0%	0%	0.1475	$3,709,133
MAN	Mandrake Res Ltd	-5%	-3%	0%	-11%	0.039	$22,099,997
EMS	Eastern Metals	-5%	-30%	-41%	-59%	0.077	$3,007,960
PGM	Platina Resources	-5%	0%	-41%	-63%	0.019	$11,217,246
ARR	American Rare Earths	-5%	0%	-28%	12%	0.19	$87,044,256
VR8	Vanadium Resources	-5%	-5%	-25%	-14%	0.057	$28,095,918
TON	Triton Min Ltd	-5%	48%	54%	23%	0.037	$48,397,446
NVA	Nova Minerals Ltd	-5%	-24%	6%	-41%	0.635	$132,086,602
SGQ	St George Min Ltd	-5%	-4%	115%	13%	0.071	$57,611,837
PAN	Panoramic Resources	-5%	3%	-19%	-31%	0.175	$369,164,521
NMT	Neometals Ltd	-5%	-20%	-12%	-17%	0.86	$483,648,529
AQD	Ausquest Limited	-6%	0%	-35%	-6%	0.017	$14,852,686
FRB	Firebird Metals	-6%	-15%	-39%	-56%	0.17	$12,067,927
ILU	Iluka Resources	-6%	-4%	9%	-2%	9.6	$4,113,343,222
HXG	Hexagon Energy	-6%	-11%	-24%	-77%	0.016	$8,206,654
AZI	Altamin Limited	-6%	-14%	-16%	18%	0.08	$32,512,490
EV1	Evolutionenergy	-6%	-8%	-23%	-41%	0.24	$37,656,250
ADV	Ardiden Ltd	-6%	-6%	-6%	-32%	0.0075	$21,506,683
1MC	Morella Corporation	-6%	-17%	-12%	50%	0.015	$89,273,337
PVT	Pivotal Metals Ltd	-6%	5%	32%	-34%	0.045	$18,750,640
EVR	Ev Resources Ltd	-6%	-25%	-42%	-72%	0.015	$13,934,761
AM7	Arcadia Minerals	-6%	-10%	29%	15%	0.225	$10,273,536
LIN	Lindian Resources	-6%	-38%	108%	384%	0.15	$146,664,273
LPI	Lithium Pwr Int Ltd	-6%	-19%	14%	9%	0.44	$177,996,512
GSM	Golden State Mining	-6%	-8%	7%	-47%	0.044	$5,265,639
INF	Infinity Lithium	-7%	-24%	4%	-15%	0.14	$67,075,853
WMG	Western Mines	-7%	8%	-7%	-13%	0.14	$5,949,713
AS2	Askarimetalslimited	-7%	-21%	33%	86%	0.345	$16,281,910
IPT	Impact Minerals	-7%	-28%	-19%	-52%	0.0065	$17,369,594
MMC	Mitremining	-7%	53%	117%	41%	0.26	$7,312,977
LOT	Lotus Resources Ltd	-8%	-18%	-20%	-36%	0.185	$245,517,803
JRL	Jindalee Resources	-8%	-18%	-36%	-13%	1.8175	$107,872,456
AKE	Allkem Limited	-8%	-14%	22%	33%	12.05	$7,830,441,296
COB	Cobalt Blue Ltd	-8%	-22%	-13%	42%	0.54	$202,990,289
BYH	Bryah Resources Ltd	-8%	-8%	-29%	-52%	0.024	$7,031,337
BCA	Black Canyon Limited	-8%	-6%	-11%	-4%	0.24	$10,762,194
BUX	Buxton Resources Ltd	-8%	-12%	37%	15%	0.092	$14,625,795
MCR	Mincor Resources NL	-8%	-9%	-16%	5%	1.4575	$729,323,202
AUZ	Australian Mines Ltd	-8%	-17%	-32%	-71%	0.057	$27,650,215
AZS	Azure Minerals	-8%	-24%	-17%	-34%	0.22	$71,812,413
BKT	Black Rock Mining	-8%	-14%	-14%	-33%	0.1375	$132,656,945
ASO	Aston Minerals Ltd	-8%	28%	-7%	-23%	0.088	$97,990,722
XTC	Xantippe Res Ltd	-8%	-21%	-39%	10%	0.0055	$56,730,208
MNS	Magnis Energy Tech	-9%	-3%	27%	-14%	0.375	$373,577,621
KNI	Kunikolimited	-9%	-21%	-23%	-56%	0.475	$23,752,405
ITM	Itech Minerals Ltd	-9%	2%	-16%	21%	0.26	$29,792,558
AZL	Arizona Lithium Ltd	-9%	-21%	-38%	-30%	0.062	$149,415,385
ASM	Ausstratmaterials	-9%	-17%	-62%	-87%	1.445	$249,224,314
GL1	Globallith	-9%	-19%	59%	206%	1.94	$406,253,669
PVW	PVW Res Ltd	-9%	-13%	-60%	-74%	0.1	$9,209,166
IG6	Internationalgraphit	-9%	-18%	-18%	0%	0.245	$21,557,087
CTM	Centaurus Metals Ltd	-9%	-11%	13%	-7%	1.07	$465,545,838
MIN	Mineral Resources.	-9%	-4%	55%	62%	80.06	$15,508,846,116
ASN	Anson Resources Ltd	-10%	-19%	81%	73%	0.19	$229,759,710
IMI	Infinitymining	-10%	-14%	98%	0%	0.2575	$19,876,563
TNG	TNG Limited	-10%	-20%	20%	-6%	0.073	$108,296,621
ADD	Adavale Resource Ltd	-10%	-33%	-34%	-57%	0.018	$9,692,768
BSX	Blackstone Ltd	-10%	-25%	-31%	-77%	0.135	$63,906,994
RMX	Red Mount Min Ltd	-10%	-10%	-10%	-50%	0.0045	$8,947,570
RGL	Riversgold	-10%	-31%	-7%	75%	0.027	$26,473,096
HRE	Heavy Rare Earths	-10%	-13%	0%	0%	0.135	$8,030,871
MTM	Mtmongerresources	-10%	-30%	-30%	-41%	0.08	$4,561,938
LPM	Lithium Plus	-10%	-34%	4%	0%	0.395	$19,059,280
SRI	Sipa Resources Ltd	-10%	-20%	0%	-17%	0.035	$7,944,507
1AE	Auroraenergymetals	-10%	-22%	-27%	0%	0.175	$21,635,447
ARL	Ardea Resources Ltd	-10%	-24%	-12%	63%	0.78	$138,059,731
EGR	Ecograf Limited	-10%	-34%	-30%	-66%	0.215	$99,073,361
INR	Ioneer Ltd	-11%	-23%	12%	-47%	0.425	$996,710,677
WIN	Widgienickellimited	-11%	-17%	28%	70%	0.34	$85,344,362
WC8	Wildcat Resources	-11%	-17%	-17%	-49%	0.025	$17,874,614
A11	Atlantic Lithium	-11%	-26%	0%	0%	0.61	$381,617,246
CXO	Core Lithium	-11%	-26%	-11%	102%	1.0325	$1,985,384,973
PNN	Power Minerals Ltd	-11%	-10%	7%	24%	0.485	$34,677,515
M2R	Miramar	-11%	-17%	-2%	-64%	0.08	$5,725,221
BNR	Bulletin Res Ltd	-11%	-28%	-33%	21%	0.087	$28,088,746
TKM	Trek Metals Ltd	-11%	-19%	13%	-29%	0.071	$25,840,101
REE	Rarex Limited	-11%	8%	-11%	-45%	0.054	$32,445,648
ABX	ABX Group Limited	-12%	-21%	-12%	15%	0.115	$26,830,898
JRV	Jervois Global Ltd	-12%	-27%	-47%	-49%	0.2725	$561,400,460
EUR	European Lithium Ltd	-12%	-25%	26%	-35%	0.072	$104,345,221
DM1	Desert Metals	-12%	-30%	2%	-9%	0.215	$15,574,832
SYR	Syrah Resources	-12%	-6%	83%	75%	2.225	$1,535,606,926
SBRDA	Sabre Resources	-13%	-13%	-22%	-30%	0.035	$11,076,453
VRC	Volt Resources Ltd	-13%	-22%	-22%	-44%	0.014	$58,191,358
LRS	Latin Resources Ltd	-13%	-9%	59%	239%	0.105	$228,241,474
CY5	Cygnus Gold Limited	-13%	-13%	148%	114%	0.385	$68,033,458
AXE	Archer Materials	-13%	-15%	-9%	-50%	0.575	$151,869,996
CZN	Corazon Ltd	-13%	25%	-9%	-37%	0.02	$12,206,611
PLS	Pilbara Min Ltd	-13%	-17%	87%	43%	3.935	$12,081,378,468
L1M	Lightning Minerals	-13%	0%	0%	0%	0.165	$5,963,400
GLN	Galan Lithium Ltd	-13%	-31%	-4%	-44%	1.04	$324,442,729
CAI	Calidus Resources	-13%	-33%	-62%	-57%	0.26	$116,051,902
DEV	Devex Resources Ltd	-13%	12%	16%	-46%	0.29	$105,671,894
CLZ	Classic Min Ltd	-14%	-21%	-93%	-93%	0.0095	$7,886,028
KAI	Kairos Minerals Ltd	-14%	-26%	8%	-20%	0.0215	$44,192,104
LKE	Lake Resources	-14%	-24%	-49%	-14%	0.8025	$1,175,943,159
PSC	Prospect Res Ltd	-14%	-14%	150%	249%	0.12	$53,159,838
ATM	Aneka Tambang	-14%	-10%	-28%	-18%	0.9	$1,173,284
RAS	Ragusa Minerals Ltd	-14%	-33%	26%	62%	0.12	$15,561,587
AOA	Ausmon Resorces	-14%	0%	0%	-8%	0.006	$5,143,736
LEL	Lithenergy	-14%	-20%	-9%	-1%	0.74	$46,315,500
GT1	Greentechnology	-14%	-30%	3%	114%	0.74	$144,961,179
PLL	Piedmont Lithium Inc	-14%	-15%	1%	-5%	0.71	$316,792,624
STM	Sunstone Metals Ltd	-15%	8%	-3%	-59%	0.039	$99,576,964
PBL	Parabellumresources	-15%	-25%	105%	95%	0.39	$21,889,000
QXR	Qx Resources Limited	-15%	-33%	52%	120%	0.044	$37,920,080
LRV	Larvottoresources	-15%	-8%	-31%	18%	0.165	$9,544,414
ENV	Enova Mining Limited	-15%	0%	-31%	-50%	0.011	$4,691,152
VTM	Victory Metals Ltd	-16%	-21%	73%	-3%	0.19	$9,950,052
EFE	Eastern Resources	-16%	-40%	13%	-54%	0.026	$29,992,341
IXR	Ionic Rare Earths	-16%	-23%	-26%	-26%	0.031	$137,991,172
MRR	Minrex Resources Ltd	-16%	-28%	-16%	-16%	0.031	$33,630,893
OCN	Oceanalithiumlimited	-16%	-37%	0%	0%	0.36	$13,776,750
GAL	Galileo Mining Ltd	-17%	-26%	-54%	271%	0.78	$158,099,942
RLC	Reedy Lagoon Corp.	-17%	-23%	-44%	-66%	0.01	$5,667,196
MLS	Metals Australia	-17%	-17%	-12%	13%	0.045	$27,923,665
RAG	Ragnar Metals Ltd	-17%	-12%	-63%	-50%	0.015	$5,687,773
EMT	Emetals Limited	-17%	-44%	0%	-44%	0.01	$8,500,000
TMB	Tambourahmetals	-17%	-23%	-20%	-48%	0.12	$4,737,149
KTA	Krakatoa Resources	-17%	-17%	-11%	-6%	0.048	$16,201,366
KFM	Kingfisher Mining	-19%	-26%	63%	129%	0.39	$21,586,500
CZL	Cons Zinc Ltd	-19%	-23%	-15%	-43%	0.017	$7,869,665
LTR	Liontown Resources	-19%	-29%	36%	-10%	1.405	$3,305,635,202
LLI	Loyal Lithium Ltd	-20%	-45%	22%	49%	0.305	$15,484,550
CHR	Charger Metals	-20%	-23%	24%	28%	0.46	$21,803,018
LNR	Lanthanein Resources	-20%	-29%	41%	20%	0.024	$21,594,663
ESS	Essential Metals Ltd	-21%	-29%	-16%	77%	0.31	$93,473,343
ALY	Alchemy Resource Ltd	-22%	-25%	11%	91%	0.021	$25,917,678
MQR	Marquee Resource Ltd	-23%	-39%	-51%	-73%	0.033	$12,106,678
RNU	Renascor Res Ltd	-23%	-23%	48%	93%	0.2225	$571,781,890
AAJ	Aruma Resources Ltd	-24%	-28%	-18%	-21%	0.055	$10,202,498
KGD	Kula Gold Limited	-25%	-29%	1%	-44%	0.024	$8,669,086
BUR	Burleyminerals	-25%	-32%	116%	20%	0.21	$7,207,840
WR1	Winsome Resources	-25%	-5%	359%	267%	1.01	$144,063,742
FG1	Flynngold	-28%	-16%	-19%	-38%	0.105	$6,831,410
RVT	Richmond Vanadium	-29%	0%	0%	0%	0.285	$24,569,225
WA1	Wa1Resourcesltd	-31%	-48%	671%	0%	1.195	$45,553,070
TAR	Taruga Minerals	-31%	-35%	9%	-38%	0.024	$16,751,786
ARN	Aldoro Resources	-34%	-51%	31%	-50%	0.19	$23,147,025

Weekly Small Cap Standouts

GREEN CRITICAL MINERALS (ASX:GCM)

The junior explorer formerly known as Chase Mining is focused on building a vertically integrated battery graphite business.

The lynchpin is its recently acquired stake in the 1.1Mt McIntosh graphite deposit in northern WA, progressed for many years by Hexagon Energy Materials (ASX:HXG).

GCM can acquire up to 80% of the project, where over $14m has already been spent on drilling and metallurgical testwork.

“McIntosh graphite is a unique, graphite project with extremely low impurities and exceptional “low cost and high yield” downstream processing attributes with the potential to produce high quality graphite products into a diverse range of premium end-use markets,” the company says.

PURSUIT MINERALS (ASX:PUR)

Pursuit entered an agreement to acquire Argentina-focused lithium company, Trilogy Minerals.

Trilogy holds the rights to acquire over 9,233ha at the Rio Grande Sur Project, which hosts a resource of 2.1Mt LCE at an average grade of 370mg/Li to a depth of 100m.

Surveys have identified lithium enriched brines to a depth of 500m, and planned drilling to this depth is expected to significantly increase the resource, the company says.

The next steps for the project are to carry out a Bankable Feasibility Study.

“The acquisition of Trilogy will see Pursuit expand its operations to become an emerging lithium exploration company with resources in a highly prospective lithium-rich region,” managing director Bob Affleck says.

“The Board feels that the acquisition creates a clear de-risked pathway to potential project development for the Company and we look forward to combining with the Trilogy team to grow the Company for all shareholders.”

BALKAN MINING AND MINERALS (ASX:BMM)

Sandfire Resources (ASX:SFR) legend Karl Simich has joined the board of BMM as director in charge of “strategy, corporate development and growth”.

Simich stepped down as Managing Director of Sandfire at the end of September 2022, after 15 years at the company’s helm, having overseen its transformational growth from a junior micro-cap to a successful mid-tier copper producer with a global footprint.

Shares also caught some wind after BMM staked two licences, Corvette North and Corvette Northwest in James Bay, Canada.

BMM, which continues to diversify outside the troubled jurisdiction of Serbia, says the licences in the upper James Bay area are a stone’s throw from some notable lithium deposits.

This comes only two short months after Balkan Mining secured an option to buy the Tango Lithium Project – also in Canada, covering 8.64km in Ontario’s Thunder Bay North mining district known for the multiple albite-spodumene type pegmatites. The largely under-explored project consists of 41 claims.