Pic: Jessica Kourkounis / Stringer/ Getty
High Voltage: Has the lithium bubble burst or is this a buying opportunity?
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Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, manganese, magnesium, and vanadium.
After a huge collective performance in 2021, the froth has been blown off lithium stocks this year.
Producers like Pilbara Minerals (ASX:PLS) are recording double digit share price losses in 2022 despite posting some very impressive H1 profits, driven by a LCE price which is up 562% year-on-year.
The small cap contingent isn’t doing any better.
Is the general malaise affecting markets to blame? Has the lithium bubble burst … or is this a buying opportunity?
This is a buying opportunity, says Niv Dagan, founder and exec director at Peak Asset Management.
“From a Peak Asset Management view, we feel that investors should be using this opportunity to add to their lithium exposure,” he told Stockhead.
“Following production cuts, the lithium supply glut has ended, and the market is now tightening, as the EV revolution accelerates.
“This is also well supported by the global commitment to decarbonisation.
“More recently Macquarie Bank advised clients that the lithium market is emerging faster than expected on the back of stationary energy storage systems and they encouraged ‘material upgrades to forecast demand for lithium over the short and medium term’.
“Credit Suisse echoed Macquarie’s buoyant lithium analysis, advising clients that it would be “brave to resist lithium momentum”.”
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 are performing>>>
Battery metals stocks missing from our list? Shoot a friendly mail to [email protected]
| Code | Company | % Week | % Month | % Six Month | % Year | Price | Market Cap |
|---|---|---|---|---|---|---|---|
| BHP | BHP Group Limited | 0% | 5% | 8% | -2% | 48 | $242,029,671,713.90 |
| S32 | South32 Limited | 3% | 12% | 64% | 66% | 4.57 | $20,506,194,620.73 |
| MIN | Mineral Resources. | -3% | -26% | -8% | 19% | 47.06 | $8,607,792,617.38 |
| IGO | IGO Limited | -5% | -11% | 29% | 62% | 11.35 | $8,367,809,333.65 |
| OZL | OZ Minerals | -2% | -10% | 20% | 11% | 25.15 | $8,309,976,923.50 |
| PLS | Pilbara Min Ltd | -4% | -19% | 42% | 155% | 2.87 | $8,305,262,282.43 |
| LYC | Lynas Rare Earths | 3% | -12% | 44% | 48% | 9.105 | $7,841,956,404.26 |
| AKE | Allkem Limited | 5% | -9% | 9% | 79% | 9.4 | $5,597,474,645.08 |
| ILU | Iluka Resources | -2% | 3% | 23% | 50% | 10.99 | $4,693,313,972.78 |
| NIC | Nickel Mines Limited | 5% | -4% | 49% | 5% | 1.4425 | $3,515,022,707.16 |
| LTR | Liontown Resources | 2% | -12% | 91% | 300% | 1.42 | $2,904,698,387.35 |
| AVZ | AVZ Minerals Ltd | 7% | 5% | 255% | 280% | 0.78 | $2,485,485,417.60 |
| CHN | Chalice Mining Ltd | -5% | -14% | 19% | 67% | 7.08 | $2,382,207,510.54 |
| CXO | Core Lithium | 9% | -3% | 169% | 235% | 0.82 | $1,279,218,583.00 |
| LKE | Lake Resources | 6% | -4% | 71% | 118% | 0.905 | $1,106,363,854.79 |
| INR | Ioneer Ltd | 1% | -22% | 29% | 21% | 0.575 | $1,097,043,393.47 |
| VUL | Vulcan Energy | 0% | -5% | -26% | 31% | 8.91 | $1,088,704,894.30 |
| JRV | Jervois Global Ltd | 18% | 2% | 66% | 53% | 0.7325 | $1,055,952,324.09 |
| MCR | Mincor Resources NL | 5% | 4% | 53% | 78% | 1.895 | $920,259,984.00 |
| SYR | Syrah Resources | 3% | -24% | 21% | 12% | 1.415 | $847,699,722.87 |
| SYA | Sayona Mining Ltd | 2% | -10% | -6% | 246% | 0.1175 | $780,661,334.09 |
| FFX | Firefinch Ltd | 0% | -13% | 23% | 172% | 0.6525 | $718,663,082.00 |
| NMT | Neometals Ltd | 7% | -19% | 71% | 268% | 1.31 | $674,502,967.08 |
| OMH | OM Holdings Limited | -2% | 6% | 27% | 25% | 0.925 | $664,761,003.30 |
| PAN | Panoramic Resources | 1% | -5% | 50% | 64% | 0.2625 | $512,728,501.00 |
| MLX | Metals X Limited | 1% | 6% | 121% | 145% | 0.575 | $494,460,006.52 |
| CTM | Centaurus Metals Ltd | -1% | 0% | 36% | 31% | 1.18 | $488,503,540.14 |
| HAS | Hastings Tech Met | 2% | 0% | 44% | 22% | 0.28 | $469,417,322.79 |
| RNU | Renascor Res Ltd | -7% | 13% | 212% | 410% | 0.265 | $465,046,492.26 |
| JMS | Jupiter Mines. | -4% | -2% | -16% | -38% | 0.215 | $411,388,116.93 |
| GLN | Galan Lithium Ltd | 4% | -16% | 44% | 196% | 1.435 | $397,791,527.66 |
| MNS | Magnis Energy Tech | -2% | -21% | 38% | 52% | 0.44 | $395,961,092.42 |
| AGY | Argosy Minerals Ltd | -5% | -13% | 112% | 165% | 0.3175 | $387,101,934.07 |
| TLG | Talga Group Ltd | -5% | -18% | 6% | -18% | 1.335 | $386,974,739.13 |
| PSC | Prospect Res Ltd | 9% | 2% | 179% | 418% | 0.88 | $362,693,728.22 |
| PLL | Piedmont Lithium Inc | -3% | -1% | -3% | -13% | 0.6675 | $353,240,704.00 |
| ARU | Arafura Resource Ltd | -3% | -16% | 58% | -22% | 0.19 | $294,579,293.08 |
| POS | Poseidon Nick Ltd | 1% | -18% | -14% | 14% | 0.09 | $263,500,519.24 |
| EGR | Ecograf Limited | 1% | -8% | -27% | -16% | 0.595 | $252,186,737.04 |
| AXE | Archer Materials | 1% | -15% | -38% | -14% | 1.03 | $248,805,043.04 |
| NTU | Northern Min Ltd | 0% | 0% | 35% | 4% | 0.05 | $247,682,331.25 |
| AZL | Arizona Lithium Ltd | -2% | -23% | 245% | 197% | 0.1275 | $229,743,142.33 |
| LOT | Lotus Resources Ltd | -2% | -13% | 71% | 60% | 0.24 | $219,605,789.48 |
| BKT | Black Rock Mining | 2% | 9% | 67% | 39% | 0.25 | $212,818,162.20 |
| QPM | Queensland Pacific | -14% | -25% | -19% | 45% | 0.1425 | $200,604,707.03 |
| BSX | Blackstone Ltd | -4% | -36% | 19% | -10% | 0.4625 | $193,326,952.95 |
| LPI | Lithium Pwr Int Ltd | -8% | -15% | 97% | 97% | 0.57 | $188,335,717.92 |
| VML | Vital Metals Limited | 3% | -18% | -24% | 3% | 0.0465 | $187,446,738.78 |
| GL1 | Globallith | 6% | -16% | 323% | 0% | 1.395 | $185,804,583.51 |
| CNB | Carnaby Resource Ltd | 5% | -7% | 368% | 541% | 1.475 | $185,160,476.37 |
| LEG | Legend Mining | -4% | -14% | -12% | -48% | 0.067 | $184,594,093.31 |
| CAE | Cannindah Resources | 15% | 10% | 448% | 1260% | 0.34 | $175,679,075.59 |
| LPD | Lepidico Ltd | -3% | -32% | 68% | 28% | 0.032 | $174,692,849.60 |
| IXR | Ionic Rare Earths | -2% | -19% | 83% | 8% | 0.055 | $173,955,875.21 |
| E25 | Element 25 Ltd | -7% | -26% | -35% | -34% | 1.09 | $167,981,405.90 |
| VIA | Viagold Rare Earth | 0% | 0% | 2464% | 4662% | 2 | $166,624,808.00 |
| SRL | Sunrise | 5% | -7% | 21% | -31% | 1.915 | $166,607,076.15 |
| EMH | European Metals Hldg | -9% | -25% | -28% | -14% | 1.15 | $162,837,279.40 |
| NVA | Nova Minerals Ltd | 3% | -16% | -19% | -42% | 0.895 | $156,775,987.95 |
| PEK | Peak Rare Earths Ltd | -9% | -14% | -11% | -39% | 0.73 | $154,419,680.00 |
| JRL | Jindalee Resources | -4% | -4% | -18% | 42% | 2.74 | $147,703,827.18 |
| LMG | Latrobe Magnesium | -13% | -24% | 367% | 296% | 0.091 | $142,357,863.04 |
| COB | Cobalt Blue Ltd | -5% | -7% | 104% | 7% | 0.48 | $138,021,931.35 |
| PRL | Province Resources | -4% | -20% | -14% | 29% | 0.12 | $135,559,177.32 |
| ARR | American Rare Earths | 0% | 4% | 229% | 295% | 0.395 | $127,774,993.13 |
| IPX | Iperionx Limited | -1% | -8% | -30% | 22% | 0.9 | $121,354,987.17 |
| LIT | Lithium Australia NL | -4% | -15% | -8% | -24% | 0.11 | $118,745,618.54 |
| EMN | Euromanganese | 1% | -14% | -30% | -24% | 0.47 | $118,296,239.02 |
| AZS | Azure Minerals | -3% | -7% | 88% | 18% | 0.385 | $114,972,216.77 |
| DEV | Devex Resources Ltd | -10% | -30% | 59% | 46% | 0.35 | $109,964,389.15 |
| WKT | Walkabout Resources | -8% | -8% | 7% | 53% | 0.245 | $108,546,026.88 |
| ASN | Anson Resources Ltd | -4% | -21% | 39% | 26% | 0.115 | $107,246,924.40 |
| NWC | New World Resources | 0% | -14% | -4% | 18% | 0.066 | $105,247,086.25 |
| AVL | Aust Vanadium Ltd | 3% | -19% | 17% | 42% | 0.034 | $102,306,507.37 |
| CRR | Critical Resources | -21% | -34% | 243% | 193% | 0.079 | $101,013,703.53 |
| 1MC | Morella Corporation | -11% | -43% | -68% | -68% | 0.0205 | $98,348,065.73 |
| ARL | Ardea Resources Ltd | -3% | 16% | 63% | 45% | 0.7225 | $97,875,304.40 |
| EUR | European Lithium Ltd | -11% | -31% | 33% | 45% | 0.093 | $96,588,181.67 |
| FGR | First Graphene Ltd | -3% | -10% | -13% | -33% | 0.175 | $91,321,256.73 |
| TNG | TNG Limited | -3% | -28% | -24% | -34% | 0.063 | $86,081,929.76 |
| HNR | Hannans Ltd | 3% | -40% | 391% | 391% | 0.034 | $80,794,415.76 |
| ESS | Essential Metals Ltd | -10% | -32% | 112% | 192% | 0.35 | $79,380,265.90 |
| BRB | Breaker Res NL | 4% | 0% | 31% | 31% | 0.255 | $78,201,822.96 |
| STK | Strickland Metals | 5% | -3% | 66% | 183% | 0.063 | $76,790,370.00 |
| AUZ | Australian Mines Ltd | -8% | -19% | -26% | -28% | 0.17 | $73,160,808.49 |
| MRC | Mineral Commodities | -4% | -25% | -20% | -70% | 0.12 | $66,873,829.25 |
| RXL | Rox Resources | -2% | -14% | 11% | -22% | 0.42 | $66,755,197.74 |
| TMT | Technology Metals | -1% | -7% | -16% | -6% | 0.33 | $63,135,030.90 |
| S2R | S2 Resources | 6% | -12% | 32% | 9% | 0.185 | $62,365,599.63 |
| AR3 | Austrare | -2% | -16% | -19% | 0% | 0.8 | $61,736,732.37 |
| INF | Infinity Lithium | -6% | -19% | 67% | -25% | 0.15 | $60,150,268.95 |
| LRS | Latin Resources Ltd | 12% | 9% | -7% | -49% | 0.038 | $51,937,817.62 |
| GBR | Greatbould Resources | 13% | -10% | 98% | 271% | 0.1525 | $51,799,192.31 |
| NC1 | Nicoresourceslimited | 6% | 11% | 0% | 0% | 0.63 | $48,423,751.11 |
| EFE | Eastern Resources | -9% | -33% | 277% | 275% | 0.049 | $48,226,259.33 |
| WR1 | Winsome Resources | -3% | -26% | 0% | 0% | 0.37 | $47,733,297.87 |
| REE | Rarex Limited | -4% | -8% | 28% | -15% | 0.11 | $47,417,286.42 |
| MRD | Mount Ridley Mines | 13% | 20% | 125% | 125% | 0.009 | $45,916,679.38 |
| VRC | Volt Resources Ltd | -5% | -17% | -30% | 6% | 0.019 | $45,496,711.64 |
| EVR | Ev Resources Ltd | -7% | -37% | 89% | 55% | 0.051 | $45,373,219.48 |
| PVW | PVW Res Ltd | -6% | 36% | 291% | 268% | 0.625 | $43,294,921.88 |
| KZR | Kalamazoo Resources | -11% | -16% | -15% | -33% | 0.31 | $42,106,368.46 |
| AML | Aeon Metals Ltd. | 9% | 6% | -12% | -55% | 0.05 | $40,693,017.74 |
| MRR | Minrex Resources Ltd | -2% | -12% | 247% | 157% | 0.059 | $39,922,489.75 |
| LEL | Lithenergy | -7% | -12% | 53% | 0% | 0.895 | $38,700,000.00 |
| GME | GME Resources Ltd | -2% | -11% | 23% | 5% | 0.065 | $38,609,399.53 |
| AOU | Auroch Minerals Ltd | -2% | -2% | -32% | -58% | 0.1125 | $37,910,438.90 |
| PAM | Pan Asia Metals | -5% | -21% | 259% | 225% | 0.52 | $36,829,322.00 |
| BNR | Bulletin Res Ltd | 35% | -4% | 150% | 89% | 0.135 | $35,694,988.75 |
| GW1 | Greenwing Resources | -7% | -39% | 15% | -3% | 0.315 | $35,484,141.32 |
| ARN | Aldoro Resources | 5% | 7% | -15% | 46% | 0.395 | $35,367,742.66 |
| VR8 | Vanadium Resources | -2% | -2% | 39% | 70% | 0.0765 | $35,010,315.68 |
| TON | Triton Min Ltd | -3% | -18% | -6% | -42% | 0.031 | $34,797,956.96 |
| GAL | Galileo Mining Ltd | -3% | -17% | -25% | -46% | 0.19 | $33,681,841.00 |
| ESR | Estrella Res Ltd | -7% | -21% | -29% | -61% | 0.027 | $32,418,401.58 |
| ADV | Ardiden Ltd | -20% | -29% | 0% | -29% | 0.012 | $31,927,708.27 |
| GMC | Gulf Manganese Corp | 10% | 10% | 10% | 10% | 0.0055 | $29,718,965.83 |
| CWX | Carawine Resources | 45% | 24% | 6% | 9% | 0.2175 | $29,634,384.61 |
| GSR | Greenstone Resources | -5% | 21% | 75% | 52% | 0.035 | $29,054,832.80 |
| VMC | Venus Metals Cor Ltd | 0% | -5% | 9% | -10% | 0.19 | $27,949,556.36 |
| BEM | Blackearth Minerals | 2% | -27% | -6% | -25% | 0.1125 | $27,034,622.20 |
| SGQ | St George Min Ltd | 0% | -41% | -29% | -52% | 0.047 | $26,513,592.17 |
| CLA | Celsius Resource Ltd | -11% | -22% | 0% | -49% | 0.025 | $25,295,473.94 |
| PNN | PepinNini Minerals | 6% | -18% | 52% | -8% | 0.425 | $25,099,508.74 |
| QXR | Qx Resources Limited | 0% | -16% | 200% | 100% | 0.036 | $24,339,318.91 |
| PGM | Platina Resources | 3% | -9% | -16% | 7% | 0.0545 | $24,325,411.15 |
| IPT | Impact Minerals | -8% | -14% | -8% | -45% | 0.012 | $24,285,539.03 |
| MQR | Marquee Resource Ltd | -4% | -23% | 105% | 83% | 0.115 | $22,518,835.71 |
| MAN | Mandrake Res Ltd | -7% | -15% | -18% | -42% | 0.0465 | $22,173,751.22 |
| HXG | Hexagon Energy | -16% | -34% | -35% | -57% | 0.047 | $21,428,123.18 |
| AZI | Altamin Limited | 9% | 3% | -8% | -20% | 0.071 | $21,223,753.11 |
| CHR | Charger Metals | -8% | -23% | 33% | 0% | 0.65 | $20,515,551.84 |
| PUR | Pursuit Minerals | -14% | -20% | -64% | -58% | 0.0215 | $19,856,533.07 |
| A8G | Australasian Metals | -6% | -21% | 241% | 0% | 0.495 | $19,080,984.65 |
| QEM | QEM Limited | -6% | -18% | 3% | 76% | 0.16 | $18,147,733.28 |
| SCN | Scorpion Minerals | -7% | -7% | 2% | 32% | 0.066 | $18,081,621.06 |
| SHH | Shree Minerals Ltd | 0% | 29% | 80% | 29% | 0.018 | $18,075,027.16 |
| BOA | Boadicea Resources | 2% | -4% | 13% | -2% | 0.22 | $16,705,477.43 |
| FRB | Firebird Metals | -14% | -16% | -25% | 0% | 0.315 | $16,660,976.64 |
| KOR | Korab Resources | -2% | -16% | 171% | 229% | 0.046 | $16,150,200.00 |
| AKN | Auking Mining Ltd | 22% | 52% | 33% | -45% | 0.22 | $15,039,322.10 |
| AQD | Ausquest Limited | 0% | -19% | -15% | -26% | 0.017 | $14,834,686.01 |
| RMX | Red Mount Min Ltd | -10% | -18% | 0% | -31% | 0.009 | $14,781,274.72 |
| EMT | Emetals Limited | -11% | -24% | -16% | -43% | 0.016 | $14,450,000.00 |
| WCN | White Cliff Min Ltd | -10% | 8% | 125% | 23% | 0.027 | $14,415,033.58 |
| RLC | Reedy Lagoon Corp. | -4% | -34% | 59% | 0% | 0.027 | $14,244,287.98 |
| LSR | Lodestar Minerals | 17% | 5% | 17% | -25% | 0.0105 | $13,909,373.48 |
| AS2 | Askarimetalslimited | 4% | -8% | 73% | 0% | 0.355 | $13,154,858.63 |
| RFR | Rafaella Resources | -8% | -28% | -29% | -31% | 0.055 | $12,898,760.13 |
| RR1 | Reach Resources Ltd | 0% | 0% | 0% | 118% | 0.008 | $12,752,099.71 |
| SLZ | Sultan Resources Ltd | -3% | -27% | -14% | -25% | 0.15 | $12,492,658.35 |
| KTA | Krakatoa Resources | -4% | -22% | -10% | -27% | 0.045 | $12,377,816.51 |
| ADD | Adavale Resource Ltd | -3% | -36% | -30% | -44% | 0.038 | $12,059,482.00 |
| RAG | Ragnar Metals Ltd | 3% | -26% | -17% | -41% | 0.034 | $11,925,916.45 |
| BUX | Buxton Resources Ltd | -6% | -2% | -6% | 21% | 0.087 | $11,836,822.58 |
| DTM | Dart Mining NL | 10% | 2% | -14% | -39% | 0.095 | $11,826,638.35 |
| ALY | Alchemy Resource Ltd | 8% | 0% | -5% | -26% | 0.013 | $11,428,138.68 |
| BYH | Bryah Resources Ltd | -15% | -23% | -10% | -16% | 0.047 | $11,084,151.58 |
| CNJ | Conico Ltd | 0% | -70% | -83% | -57% | 0.012 | $11,002,363.61 |
| MLS | Metals Australia | 20% | 20% | 20% | 20% | 0.048 | $11,000,979.99 |
| WML | Woomera Mining Ltd | -6% | -19% | -22% | -18% | 0.017 | $10,909,329.06 |
| AX8 | Accelerate Resources | 7% | 7% | 13% | -13% | 0.045 | $10,898,732.66 |
| AAJ | Aruma Resources Ltd | -21% | -7% | 30% | 16% | 0.087 | $10,832,689.26 |
| BMM | Balkanminingandmin | 6% | -14% | -35% | 0% | 0.345 | $10,643,750.00 |
| TSC | Twenty Seven Co. Ltd | 0% | 0% | 33% | -43% | 0.004 | $10,643,255.62 |
| FG1 | Flynngold | 3% | -11% | 3% | 0% | 0.165 | $10,570,073.25 |
| CZN | Corazon Ltd | -3% | -14% | -14% | -44% | 0.032 | $10,075,479.71 |
| IMI | Infinitymining | -10% | -8% | 0% | 0% | 0.175 | $10,062,500.00 |
| SRI | Sipa Resources Ltd | 0% | 0% | -21% | -17% | 0.049 | $10,046,215.35 |
| TMB | Tambourahmetals | -6% | -19% | 24% | 0% | 0.23 | $9,474,297.54 |
| G88 | Golden Mile Res Ltd | -4% | -4% | 2% | 11% | 0.052 | $9,169,971.38 |
| SBR | Sabre Resources | -10% | -25% | 13% | -36% | 0.0045 | $9,156,661.42 |
| TEM | Tempest Minerals | 0% | -21% | 38% | -27% | 0.022 | $9,151,720.65 |
| CMX | Chemxmaterials | -7% | -34% | 0% | 0% | 0.195 | $9,036,446.45 |
| KGD | Kula Gold Limited | 5% | -7% | -10% | 8% | 0.043 | $8,822,200.91 |
| ENT | Enterprise Metals | 0% | -20% | 16% | -24% | 0.015 | $8,595,302.18 |
| LRV | Larvottoresources | -12% | 5% | 0% | 0% | 0.22 | $8,480,325.00 |
| NKL | Nickelxltd | -12% | 0% | -36% | 0% | 0.145 | $8,025,750.00 |
| KFM | Kingfisher Mining | -6% | -25% | 35% | -8% | 0.23 | $7,876,350.23 |
| FRS | Forrestaniaresources | -6% | -18% | 0% | 0% | 0.335 | $7,854,000.00 |
| GED | Golden Deeps | -9% | -17% | -9% | -13% | 0.01 | $7,758,514.40 |
| AM7 | Arcadia Minerals | -4% | -20% | 19% | 0% | 0.22 | $7,698,350.00 |
| RBX | Resource B | 5% | -7% | 22% | 474% | 0.195 | $7,590,041.15 |
| EMS | Eastern Metals | -11% | -29% | 0% | 0% | 0.2 | $7,476,000.00 |
| GSM | Golden State Mining | -12% | -33% | -33% | -42% | 0.081 | $7,062,478.73 |
| TKL | Traka Resources | -27% | -39% | -21% | -45% | 0.011 | $6,887,745.61 |
| ENV | Enova Mining Limited | 0% | -13% | -13% | -29% | 0.02 | $6,773,176.88 |
| MOH | Moho Resources | -11% | -19% | -17% | -38% | 0.05 | $6,636,563.39 |
| GRE | Greentechmetals | -9% | -32% | 0% | 0% | 0.25 | $6,480,124.77 |
| CML | Chase Mining Limited | 8% | -13% | -13% | -18% | 0.014 | $6,085,725.89 |
| AOA | Ausmon Resorces | 0% | 17% | 17% | -22% | 0.007 | $5,572,380.73 |
| CMO | Cosmometalslimited | -5% | 0% | 0% | 0% | 0.19 | $4,974,450.00 |
| MMC | Mitremining | -3% | -5% | 0% | 0% | 0.185 | $4,875,318.00 |
| LML | Lincoln Minerals | 0% | 0% | 0% | 0% | 0.008 | $4,599,869.49 |
| ATM | Aneka Tambang | 5% | 5% | 15% | 15% | 1.15 | $1,499,196.35 |
WEEKLY SMALL STANDOUTS
Major shareholder Christopher Wallin has launched an all-cash takeover bid for gold-manganese explorer Carawine Resources (ASX:CWX) which values the explorer at 21c per share — a 27.27% premium to the last trading price.
Wallin was the #41 richest person is Australia in 2020 (according to Forbes) with an estimated net wealth of about ~$910 million.
He is probs worth a lot more now, as coal prices are surging and he makes his money through private company QCoal Group, which has developed several coal mines in Queensland’s Bowen Basin.
These mines produce 10 million tonnes of coking and thermal coal which is exported through the Abbot Point Coal Terminal each year.
Wallin’s offer is unconditional and will remain open until 22 April 2022, unless extended or withdrawn. CWX will provide a recommendation on the bid to shareholders in due course – until then they should “TAKE NO ACTION”, it says.
Bulletin Resources (ASX:BNR) flagged another high-grade lithium trend at its ‘Ravensthorpe’ project in WA, parallel to the Eastern trend identified last week.
The Horseshoe pegmatite, part of the Western pegmatite trend, returned rock chip assays of up to 4.50% Li2O with an average assay of 3.1% Li2O. Ore grade is usually around 1%.
“We now have a great opportunity to progress two lithium plays only a few km apart in this incredibly prospective area with an operating lithium processing plant only 12km away,” CEO Mark Csar says.
Up on no news was minnow Metals Australia (ASX:MLS), which kicked off a 3,5000m RC drilling program at its Manindi lithium project in WA mid last week.
The program is expected to take 2-3 weeks to complete, and will target the entire 500m strike length of the recently discovered Foundation Pegmatite.
Chairman Mike Scivolo says that historical drill intersections and mapping at Manindi has identified multiple LCT pegmatites, “highlighting the large-scale potential for high-grade lithium deposits.”
Testing is also planned for nearby pegmatites, Dibbler, Quoll and Bandicoot, where lithium minerals have been identified in rockchip sampling.
$1bn market cap cobalt miner/project developer Jervois Global (ASX:JRV) is on track for first cobalt and copper concentrate production from its ‘Idaho Cobalt Operations’ in Q3 2022.
Its Finland operations also pulled in revenues of $US96m (adjusted profits of $US3.9m) in the December quarter.
Gaining on no news this week, JRV will be a direct beneficiary of higher cobalt prices, which recently hit a three-year high.
