• 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
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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.