• Don’t want to jinx it too hard, but maybe, just maybe, lithium prices have touched the bottom. (Yep, definitely jinxed it)
  • Meanwhile EV sales are well up again, with beaut global figures for September making the rounds
  • And LPI and LTR have been dominating headlines of late with their own very different M&A narratives. The latter could be raising $300m, according to ‘sources’

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

 

Is the lithium price slide over at last? There might be some signs, some reason for some optimism on this front.

As Fastmarkets reported last week:

“China’s spot lithium carbonate prices rebounded in the week to Thursday October 12 due to support from a surge in the lithium carbonate futures contract on Guangzhou Futures Exchange (GFEX), the first gain since the end of August, sources said.” 

Note, there’s no accepted spot price market in lithium. I know that because Stockhead‘s Josh Chiat, who knows about these sorts of things, told me.

Fastmarkets’ (and Benchmark’s) north Asia carbonate and hydroxide prices are apparently relied on by Western producers as a reference point, but here’s another way to track them, too – Lithium Price Bot. (No, we’re not affiliated with its sponsor)…

 That lithium carbonate price, per ton, in US dollars, is up about 2.3% since this time last week. 

 

Meanwhile, yes, people are buying electric vehicles

The latest global electric vehicle (EV) sales reports are in and they show… sales ticked up by 50% in Q3 of this year. And yep, these are the kind of reports the battery metals sectors – hunters, producers and manufacturers – like.

According to figures released by the China Association of Automobile Manufacturers a handful of days ago, NEV (new energy vehicle) sales in September reached 904,000 units – a near 7% increase from August’s high mark of 846,000 and a 28% rise over 12 months from September 2022’s 708,000.

That’s China specifically, then, the world’s biggest EV market. And the full, global picture? Year on year, EV sales are up almost 50% according to a report from Californian automotive research company Kelley Blue Book. And that includes encouraging signs for the US EV market, too, which has tended to lag behind Asia and Europe in EV adoption.

 

Destocking leads to restocking? 

So then, EV growth data has a direct correlation to demand for lithium and other battery metals. Or, at least you’d think so wouldn’t you? On the whole, EV sales have been rolling along okay all year, so why are so many lithium mining shares so far down YTD?

Financial media outlet Barron’s posed this question in September, noting:

The easiest reason to cite for lithium stock weakness is falling commodity prices. Benchmark lithium prices are down roughly 67% year over year, and near a 52-week low of about $24,000 a ton.

But why have lithium prices been falling amid generally strong EV demand?

By way of answer, Barron’s cited Evercore ISI analyst Stephen Richardson, who recently noted:

“It is hard to believe incremental supply is coming at what is likely closer to marginal cost today.

“For much of first-half 2023 [inventory] destocking was the theme.”

Barron’s added:

“Destocking leads, eventually, to restocking, which means more buying by battery makers and EV companies. That just hasn’t happened yet.” 

Not yet, no, still there are plenty who believe demand for EV batteries is going to significantly outstrip supply in the future.

Here are some quotes we’ve see around the traps from various other analysts recently:

“Even though lithium prices are coming down, M&A in the space is coming as larger scale companies with financial firepower will be needed to deliver supply” – Reg Spencer, analyst at Canaccord Genuity, per the FT.

(Never met a Reg I couldn’t trust.)

“Global lithium supply is expected to enter a deficit relative to demand by 2025.” – BMI, a Fitch Solutions research unit, per CNBC, adding:

“We expect an average of 20.4% year-on-year annual growth for China’s lithium demand for EVs alone over 2023-2032.”

 

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] or [email protected]

Code Company Price % Week % Month % Year % YTD Market Cap
PVW PVW Res Ltd 0.066 -3% -6% -53% -3% $6,692,715
A8G Australasian Metals 0.195 -5% 39% -29% 1% $10,163,496
INF Infinity Lithium 0.09 3% 0% -57% -3% $41,633,288
LPI Lithium Pwr Int Ltd 0.54 59% 135% 2% 10% $261,133,587
PSC Prospect Res Ltd 0.0925 22% 5% -4% -3% $34,207,200
PAM Pan Asia Metals 0.2 -2% -5% -45% -21% $30,970,180
CXO Core Lithium 0.365 0% -9% -70% -66% $769,296,796
LOT Lotus Resources Ltd 0.2125 -8% -24% -3% 1% $277,686,859
AGY Argosy Minerals Ltd 0.1875 7% -1% -62% -38% $273,859,462
AZS Azure Minerals 2.53 20% -11% 1024% 231% $1,123,326,245
NWC New World Resources 0.028 0% -13% -7% -1% $63,328,777
QXR Qx Resources Limited 0.023 -8% -4% -66% -2% $21,640,489
GSR Greenstone Resources 0.009 0% -10% -67% -2% $12,288,747
CAE Cannindah Resources 0.11 5% -15% -42% -13% $62,532,795
AZL Arizona Lithium Ltd 0.015 0% -12% -80% -5% $44,725,655
HNR Hannans Ltd 0.007 0% -22% -67% -1% $19,072,234
COB Cobalt Blue Ltd 0.2275 -5% -19% -67% -36% $84,460,970
ESS Essential Metals Ltd 0.475 -2% 1% -2% 15% $129,052,784
LPD Lepidico Ltd 0.011 0% 10% -42% -1% $84,021,387
MRD Mount Ridley Mines 0.0015 -25% -25% -73% 0% $15,569,766
CZN Corazon Ltd 0.012 0% 0% -20% -1% $8,618,371
LKE Lake Resources 0.18 -3% 0% -82% -62% $263,152,271
DEV Devex Resources Ltd 0.29 -15% -25% -3% 1% $107,525,787
INR Ioneer Ltd 0.18 -10% -29% -66% -20% $379,984,738
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 0% $2,752,409,203
MAN Mandrake Res Ltd 0.0355 -7% -7% -1% 0% $20,956,597
RLC Reedy Lagoon Corp. 0.006 0% 20% -52% 0% $3,700,102
GBR Greatbould Resources 0.061 15% 0% -33% -3% $32,493,551
FRS Forrestaniaresources 0.035 0% -30% -81% -11% $3,273,651
MLX Metals X Limited 0.27 -4% -11% -2% -12% $249,498,168
CLA Celsius Resource Ltd 0.011 0% 5% -15% -1% $25,829,594
FGR First Graphene Ltd 0.09 -22% 34% -18% -2% $51,396,569
HXG Hexagon Energy 0.009 -10% -10% -40% -1% $4,616,243
TLG Talga Group Ltd 1.05 -9% -23% -9% -35% $346,324,005
MNS Magnis Energy Tech 0.074 0% -13% -78% -30% $88,762,863
PLL Piedmont Lithium Inc 0.56 4% -21% -29% -9% $206,740,350
EUR European Lithium Ltd 0.0665 -6% -6% -16% -1% $96,202,503
BKT Black Rock Mining 0.095 12% 8% -39% -4% $97,644,222
QEM QEM Limited 0.2 0% -7% -5% 2% $29,521,384
LYC Lynas Rare Earths 6.64 2% -10% -10% -121% $6,284,578,160
ESR Estrella Res Ltd 0.008 0% 7% -27% -1% $11,868,575
ARL Ardea Resources Ltd 0.515 -13% -18% -45% -20% $99,277,577
GLN Galan Lithium Ltd 0.775 22% 12% -35% -30% $254,320,042
JRL Jindalee Resources 1.375 -12% -24% -40% -51% $77,748,499
VUL Vulcan Energy 2.64 -3% -22% -58% -369% $439,355,136
SBR Sabre Resources 0.034 3% -24% -43% 0% $9,910,530
CHN Chalice Mining Ltd 1.99 -16% -33% -46% -431% $770,147,342
VRC Volt Resources Ltd 0.008 0% -6% -72% -1% $31,515,391
NMT Neometals Ltd 0.315 -11% -35% -70% -49% $174,292,000
AXN Alliance Nickel Ltd 0.06 20% -24% -40% -3% $43,550,377
PNN Power Minerals Ltd 0.24 -2% -16% -46% -29% $19,929,045
IGO IGO Limited 11.77 3% -12% -22% -169% $8,852,460,734
GED Golden Deeps 0.052 -4% -10% -57% -4% $6,007,162
ADV Ardiden Ltd 0.006 0% 0% -20% 0% $16,130,012
SRI Sipa Resources Ltd 0.026 37% 37% -41% -1% $5,932,112
NTU Northern Min Ltd 0.029 0% -6% -33% -1% $171,418,398
AXE Archer Materials 0.405 -12% -14% -47% -21% $105,761,510
PGM Platina Resources 0.024 -4% -11% 33% 1% $14,956,328
AAJ Aruma Resources Ltd 0.032 0% -3% -52% -2% $6,300,528
IXR Ionic Rare Earths 0.0225 -2% -17% -48% -1% $90,990,413
NIC Nickel Industries 0.8025 7% -2% 8% -17% $3,428,647,904
EVG Evion Group NL 0.029 -3% -9% -70% -4% $10,378,776
CWX Carawine Resources 0.11 -15% 0% 26% 1% $24,602,184
PLS Pilbara Min Ltd 4.095 3% -9% -15% 35% $12,248,513,026
HAS Hastings Tech Met 0.7 3% -29% -79% -282% $91,850,323
BUX Buxton Resources Ltd 0.205 5% -7% 105% 9% $35,112,106
ARR American Rare Earths 0.135 0% -13% -27% -6% $58,035,029
SGQ St George Min Ltd 0.04 8% -1% -18% -3% $34,709,574
TKL Traka Resources 0.005 0% 0% -29% 0% $4,376,646
PAN Panoramic Resources 0.037 -5% -12% -76% -14% $112,846,962
PRL Province Resources 0.041 0% 0% -52% -2% $48,441,219
IPT Impact Minerals 0.01 -9% -17% 43% 0% $28,647,039
LIT Lithium Australia 0.031 -6% -14% -43% -1% $37,887,942
AKE Allkem Limited 11.76 5% -8% -18% 52% $7,448,093,063
ARN Aldoro Resources 0.09 -10% -25% -63% -7% $12,116,137
JRV Jervois Global Ltd 0.034 6% -19% -94% -24% $91,885,703
SYR Syrah Resources 0.44 -8% -26% -74% -162% $321,051,422
FBM Future Battery 0.098 -11% -25% 61% 5% $45,891,539
ADD Adavale Resource Ltd 0.011 -15% -21% -63% -1% $8,034,062
LTR Liontown Resources 2.79 -7% -7% 63% 147% $6,144,293,085
CTM Centaurus Metals Ltd 0.53 -5% -26% -43% -59% $261,245,682
VML Vital Metals Limited 0.01 0% 0% -67% -1% $53,061,498
BSX Blackstone Ltd 0.115 0% -8% -36% -2% $54,474,224
POS Poseidon Nick Ltd 0.017 0% -11% -66% -2% $59,330,842
CHR Charger Metals 0.145 21% -24% -69% -30% $9,006,583
AVL Aust Vanadium Ltd 0.027 0% -4% -23% 0% $134,152,383
AUZ Australian Mines Ltd 0.0135 -4% -10% -79% -4% $9,190,449
TMT Technology Metals 0.245 -6% -16% -36% -11% $64,842,926
RXL Rox Resources 0.22 -6% 10% -4% 5% $81,007,214
RNU Renascor Res Ltd 0.115 -4% -4% -41% -10% $292,031,862
GL1 Globallith 1.415 18% -7% -43% -43% $369,002,193
ASN Anson Resources Ltd 0.15 7% -6% -46% -4% $180,003,484
SYA Sayona Mining Ltd 0.086 -5% -22% -60% -10% $885,223,457
FFX Firefinch Ltd 0.2 0% 0% 0% 0% $236,569,315
EGR Ecograf Limited 0.12 -4% 4% -63% -10% $56,573,985
ATM Aneka Tambang 1.19 0% 3% 19% 29% $1,551,342
TVN Tivan Limited 0.067 -4% -13% -26% -1% $103,671,399
ALY Alchemy Resource Ltd 0.011 10% 0% -56% -1% $12,958,839
GAL Galileo Mining Ltd 0.31 -15% 0% -74% -57% $64,228,101
BHP BHP Group Limited 45.805 4% 0% 17% 18% $230,982,472,094
LEL Lithenergy 0.575 2% -6% -49% -20% $56,655,500
MMC Mitremining 0.215 -19% -14% 23% -7% $10,430,523
RMX Red Mount Min Ltd 0.004 -20% 33% -20% 0% $12,031,092
GW1 Greenwing Resources 0.125 -7% -17% -65% -15% $20,910,178
AQD Ausquest Limited 0.011 -15% -15% -39% -1% $9,076,641
LML Lincoln Minerals 0.007 0% 17% 2% 0% $9,944,983
1MC Morella Corporation 0.006 9% 0% -71% -1% $36,831,934
REE Rarex Limited 0.031 0% -14% -45% -2% $20,501,597
MRC Mineral Commodities 0.035 3% -26% -51% -3% $22,818,046
PUR Pursuit Minerals 0.0095 6% -5% -21% -1% $23,551,771
QPM Queensland Pacific 0.064 -2% 5% -63% -5% $124,057,459
EMH European Metals Hldg 0.7 12% 3% -4% 6% $77,393,391
BMM Balkanminingandmin 0.135 -25% -40% -48% -20% $9,633,004
PEK Peak Rare Earths Ltd 0.405 4% -7% -4% -5% $105,856,586
LEG Legend Mining 0.023 -15% -8% -36% -2% $69,707,452
MOH Moho Resources 0.007 0% -13% -72% -1% $2,380,311
AML Aeon Metals Ltd. 0.014 -7% -26% -49% -1% $15,349,609
G88 Golden Mile Res Ltd 0.02 0% -47% -21% 0% $6,258,401
WKT Walkabout Resources 0.115 5% 0% -34% -3% $73,343,055
TON Triton Min Ltd 0.021 0% -5% -9% -2% $32,788,468
AR3 Austrare 0.205 -9% -15% -42% -20% $31,604,022
ARU Arafura Rare Earths 0.195 -17% -30% -30% -27% $422,672,938
MIN Mineral Resources. 63.195 4% -11% -8% -1401% $12,392,386,314
VMC Venus Metals Cor Ltd 0.11 -12% 10% 35% 3% $19,921,512
S2R S2 Resources 0.21 8% 24% 50% 4% $86,119,220
CNJ Conico Ltd 0.005 0% -29% -69% 0% $7,850,475
VR8 Vanadium Resources 0.045 2% -34% -41% -1% $26,370,633
PVT Pivotal Metals Ltd 0.02 -20% 25% -47% -2% $10,957,366
BOA Boadicea Resources 0.039 -3% 3% -62% -6% $4,800,522
IPX Iperionx Limited 1.33 4% -16% 69% 64% $259,949,829
SLZ Sultan Resources Ltd 0.018 -14% -33% -82% -7% $2,815,611
NKL Nickelxltd 0.055 -13% -21% -66% -3% $4,829,834
NVA Nova Minerals Ltd 0.27 10% 4% -61% -41% $59,049,189
MLS Metals Australia 0.033 3% 0% -23% -1% $20,593,194
MQR Marquee Resource Ltd 0.027 0% -23% -50% -1% $11,161,378
MRR Minrex Resources Ltd 0.016 0% 7% -69% -2% $17,357,880
EVR Ev Resources Ltd 0.012 9% -8% -54% 0% $11,337,358
EFE Eastern Resources 0.008 -11% 0% -81% -2% $11,177,518
CNB Carnaby Resource Ltd 0.845 -2% -11% 3% -9% $138,419,386
BNR Bulletin Res Ltd 0.11 0% 43% -12% 2% $32,295,021
AX8 Accelerate Resources 0.03 -3% 43% -12% 1% $14,912,070
AM7 Arcadia Minerals 0.1 -5% -9% -65% -11% $10,905,010
AS2 Askarimetalslimited 0.185 3% -23% -49% -25% $14,592,040
BYH Bryah Resources Ltd 0.014 8% -15% -38% -1% $5,020,474
DTM Dart Mining NL 0.022 0% -19% -74% -3% $3,806,269
EMS Eastern Metals 0.03 -3% -12% -78% -4% $2,062,735
FG1 Flynngold 0.061 -10% 2% -39% -4% $8,182,955
GSM Golden State Mining 0.037 0% -8% -3% -1% $7,070,266
IMI Infinitymining 0.125 -17% -7% -43% -15% $10,094,680
LRV Larvottoresources 0.125 0% -4% -42% -4% $8,406,840
LSR Lodestar Minerals 0.005 0% -17% 0% 0% $12,140,384
RAG Ragnar Metals Ltd 0.024 0% 14% -10% 1% $11,849,524
CTN Catalina Resources 0.004 0% 0% -47% -1% $3,715,461
TMB Tambourahmetals 0.125 -17% -42% -11% 2% $10,782,246
TEM Tempest Minerals 0.008 0% -20% -74% -2% $4,091,068
EMC Everest Metals Corp 0.12 -4% -4% 20% 4% $15,327,558
WML Woomera Mining Ltd 0.0105 5% -19% -24% -1% $10,040,043
KZR Kalamazoo Resources 0.1 5% -13% -46% -11% $16,619,208
LMG Latrobe Magnesium 0.043 -2% -10% -43% -3% $74,932,192
KOR Korab Resources 0.017 13% -11% -50% -1% $6,239,850
CMX Chemxmaterials 0.083 -7% -21% -53% -10% $4,418,302
NC1 Nicoresourceslimited 0.35 1% -24% -44% -26% $30,334,126
GRE Greentechmetals 0.305 -2% -38% 103% 17% $17,261,644
CMO Cosmometalslimited 0.052 -2% -13% -65% -8% $1,804,227
FRB Firebird Metals 0.165 14% 6% -20% 1% $10,595,875
S32 South32 Limited 3.5 2% 4% -7% -50% $15,692,410,555
OMH OM Holdings Limited 0.475 2% -8% -25% -22% $350,846,085
JMS Jupiter Mines. 0.19 -3% -3% 3% -3% $372,208,296
E25 Element 25 Ltd 0.39 1% -14% -64% -49% $81,573,876
EMN Euromanganese 0.14 22% -18% -49% -22% $34,233,287
KGD Kula Gold Limited 0.012 0% -8% -67% -1% $4,478,543
LRS Latin Resources Ltd 0.2725 -4% -11% 178% 17% $697,515,272
CRR Critical Resources 0.034 -3% -15% -43% -1% $58,669,059
ENT Enterprise Metals 0.003 -25% -25% -70% -1% $2,398,413
SCN Scorpion Minerals 0.056 -10% -7% -18% -1% $19,415,547
GCM Green Critical Min 0.006 -14% -14% -45% -1% $7,956,095
ENV Enova Mining Limited 0.008 14% 33% -43% -1% $3,909,293
RBX Resource B 0.135 -4% -7% 50% 5% $11,162,405
AKN Auking Mining Ltd 0.058 2% 4% -38% -4% $11,838,015
RR1 Reach Resources Ltd 0.0125 4% -11% 150% 1% $38,403,565
EMT Emetals Limited 0.008 14% 7% -47% 0% $6,800,000
PNT Panthermetalsltd 0.071 -3% -3% -58% -12% $4,341,650
WIN Widgienickellimited 0.195 -3% -5% -20% -14% $59,589,011
WMG Western Mines 0.295 -13% 2% 127% 14% $18,453,085
AVW Avira Resources Ltd 0.0015 0% -25% -57% 0% $3,200,685
CAI Calidus Resources 0.135 -10% -27% -61% -14% $82,063,781
GT1 Greentechnology 0.475 4% -5% -39% -35% $99,034,548
KAI Kairos Minerals Ltd 0.02 -9% -13% -21% 0% $52,418,244
MTM MTM Critical Metals 0.026 -28% -37% -78% -5% $2,980,113
NWM Norwest Minerals 0.033 27% 0% 18% -2% $9,489,794
PGD Peregrine Gold 0.23 -21% -28% -60% -16% $13,201,739
RAS Ragusa Minerals Ltd 0.038 -5% -3% -86% -8% $5,418,754
RGL Riversgold 0.012 -14% 0% -73% -2% $11,415,137
SRZ Stellar Resources 0.011 0% -8% -15% 0% $11,065,607
STM Sunstone Metals Ltd 0.015 -6% -21% -53% -2% $40,065,803
ZNC Zenith Minerals Ltd 0.092 -8% -1% -71% -17% $32,066,660
WC8 Wildcat Resources 0.465 15% 94% 1309% 44% $494,403,515
ASO Aston Minerals Ltd 0.037 12% 3% -53% -4% $46,622,314
THR Thor Energy PLC 0.026 -7% -42% -68% -3% $4,055,740
YAR Yari Minerals Ltd 0.014 -7% -26% -50% 0% $6,753,009
IG6 Internationalgraphit 0.18 3% -3% -44% -9% $16,017,860
LPM Lithium Plus 0.39 -12% 5% -47% 2% $27,385,103
ODE Odessa Minerals Ltd 0.008 -20% -33% -53% -1% $7,576,895
KOB Kobaresourceslimited 0.076 -8% -4% -24% -6% $8,011,667
AZI Altamin Limited 0.062 3% -10% -23% -2% $24,678,155
FTL Firetail Resources 0.09 -10% -14% -55% -7% $13,997,122
LNR Lanthanein Resources 0.0075 -6% -17% -81% -1% $7,851,029
CLZ Classic Min Ltd 0.001 0% 0% -94% -1% $12,357,082
NVX Novonix Limited 0.635 -9% -33% -65% -84% $307,718,473
OCN Oceanalithiumlimited 0.155 -9% -31% -67% -19% $8,226,858
SUM Summitminerals 0.094 -6% -30% -51% -5% $4,432,113
DVP Develop Global Ltd 3.05 -4% -5% 19% -13% $621,033,508
XTC Xantippe Res Ltd 0.001 0% 0% -81% 0% $17,528,005
OD6 Od6Metalsltd 0.185 19% 16% 0% -15% $10,177,867
HRE Heavy Rare Earths 0.074 3% -5% -58% -4% $4,476,107
LIN Lindian Resources 0.185 -12% -26% -20% 3% $230,384,447
PEK Peak Rare Earths Ltd 0.405 4% -7% -4% -5% $105,856,586
ILU Iluka Resources 7.46 -1% -10% -18% -207% $3,178,200,973
ASM Ausstratmaterials 1.43 -1% -23% -23% -1% $233,485,330
ETM Energy Transition 0.036 -5% -10% -28% -3% $48,806,784
VMS Venture Minerals 0.01 0% -17% -57% -1% $19,500,130
IDA Indiana Resources 0.054 -14% -11% 4% 0% $31,243,212
VTM Victory Metals Ltd 0.235 18% 18% 31% 2% $18,202,423
M2R Miramar 0.044 -4% -12% -53% -3% $6,550,260
WCN White Cliff Min Ltd 0.011 -8% 22% -39% 0% $13,827,204
TAR Taruga Minerals 0.01 -9% 11% -68% -1% $7,060,268
ABX ABX Group Limited 0.075 6% -6% -48% -4% $18,175,561
MEK Meeka Metals Limited 0.038 6% -22% -38% -3% $45,066,439
RR1 Reach Resources Ltd 0.0125 4% -11% 150% 1% $38,403,565
DRE Dreadnought Resources Ltd 0.043 -4% -22% -57% -6% $151,517,676
KFM Kingfisher Mining 0.17 -3% -11% -58% -31% $8,862,975
AOA Ausmon Resorces 0.003 0% 0% -57% 0% $2,935,948
WC1 Westcobarmetals 0.077 4% -4% -65% -9% $7,382,158
GRL Godolphin Resources 0.036 -8% -8% -59% -5% $6,092,713
DM1 Desert Metals 0.04 0% -11% -91% -16% $2,901,643
PTR Petratherm Ltd 0.053 -13% -12% -24% -1% $11,911,810
ITM Itech Minerals Ltd 0.12 0% -31% -63% -15% $14,032,027
KTA Krakatoa Resources 0.018 -10% -10% -70% -3% $7,393,265
M24 Mamba Exploration 0.045 0% -21% -63% -10% $2,744,250
LNR Lanthanein Resources 0.0075 -6% -17% -81% -1% $7,851,029
TKM Trek Metals Ltd 0.03 -6% -45% -50% -5% $15,924,483
BCA Black Canyon Limited 0.16 33% 19% -27% -8% $9,846,657
CDT Castle Minerals 0.009 -18% -10% -63% -1% $10,120,437
DLI Delta Lithium 0.685 4% -14% 26% 21% $378,972,882
A11 Atlantic Lithium 0.49 1% 3% -21% -13% $290,814,789
KNI Kunikolimited 0.285 2% -19% -61% -23% $25,771,880
CY5 Cygnus Metals Ltd 0.135 -10% -33% -71% -25% $40,605,969
WR1 Winsome Resources 1.3 13% -17% 282% 7% $215,731,376
LLI Loyal Lithium Ltd 0.535 -5% -34% 20% 24% $42,338,981
BC8 Black Cat Syndicate 0.17 -19% -26% -46% -19% $51,126,331
BUR Burleyminerals 0.175 25% 30% 30% -5% $16,713,965
PBL Parabellumresources 0.345 0% 0% 6% 1% $18,879,263
L1M Lightning Minerals 0.145 12% 4% 0% -2% $6,108,760
WA1 Wa1Resourcesltd 4.83 7% -12% 3350% 344% $201,603,129
EV1 Evolutionenergy 0.145 -12% -22% -45% -8% $24,100,000
1AE Auroraenergymetals 0.099 -21% 10% -38% -5% $14,965,451
RVT Richmond Vanadium 0.36 -4% -11% 0% 13% $30,172,732
PMT Patriotbatterymetals 1.31 19% -3% 0% 56% $442,667,984
PAT Patriot Lithium 0.175 3% -3% 0% -9% $11,180,313
BM8 Battery Age Minerals 0.2 -20% -38% -60% -30% $21,392,853
OM1 Omnia Metals Group 0.078 0% -14% -44% -8% $3,554,532
VHM Vhmlimited 0.46 -3% -16% 0% 0% $71,570,998
LLL Leolithiumlimited 0.505 0% 0% -11% 2% $498,553,663
SRN Surefire Rescs NL 0.013 0% -13% 0% 0% $21,467,725
SRL Sunrise 0.78 8% -11% -62% -114% $71,730,861
SYR Syrah Resources 0.44 -8% -26% -74% -162% $321,051,422
EG1 Evergreenlithium 0.255 2% -11% 0% 0% $14,338,650
WSR Westar Resources 0.02 0% -23% -58% -3% $3,707,150
LU7 Lithium Universe Ltd 0.046 -4% -15% 15% 2% $17,872,007
MEI Meteoric Resources 0.22 2% 0% 1733% 17% $417,241,282
REC Rechargemetals 0.15 7% -42% -12% 2% $17,537,936
SLM Solismineralsltd 0.27 4% -21% 322% 20% $21,371,407
DYM Dynamicmetalslimited 0.18 -3% -28% 0% 0% $6,300,000
TOR Torque Met 0.385 28% 15% 108% 21% $42,821,878
ICL Iceni Gold 0.07 -1% -16% -19% -1% $17,509,571
TMX Terrain Minerals 0.0045 -10% -10% -25% 0% $6,288,219
MHC Manhattan Corp Ltd 0.006 20% -14% -14% 0% $17,621,879
MHK Metalhawk. 0.09 2% -10% -55% -8% $7,640,788
ANX Anax Metals Ltd 0.034 -3% -32% -44% -2% $14,616,733
FIN FIN Resources Ltd 0.02 0% 67% 5% 0% $12,420,707
LM1 Leeuwin Metals Ltd 0.325 5% 14% 0% 0% $13,435,500
HAW Hawthorn Resources 0.091 0% -27% 1% -2% $30,486,421
LCY Legacy Iron Ore 0.018 -10% 20% -5% 0% $115,322,872
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Top 5 ASX lithium stocks YTD 

Azure Minerals (ASX:AZS): +231%

Liontown Resources (ASX:LTR): +147%

Patriot Battery Metals (ASX:PMT): +56%

Pilbara Minerals (ASX:PLS): +35%

Loyal Lithium (ASX:LLI): +24%

 

Who’s been turning battery metal heads this week?

Lithium Power International (ASX:LPI)

“He who writes the cheque deserves the profit…”

As we reported yesterday it looks like the major Codelco takeover of LPI is all but a done deal, and it shapes as very fruitful one indeed for the company’s shareholders.

LPI has now confirmed it’s entered into a binding scheme implementation deed with Corporación Nacional del Cobre de Chile (Codelco). It’s a deal that will see Codelco acquire 100% of LPI’s issued capital, valuing the company at approximately A$385 million.

Codelco challenges America’s Freeport McMoran for the status as the world’s largest producer of copper, so this is big coup for LPI, which is massively down share-price-wise, from its ATH of 91c, which it hit in April 2022.

The company notes that “if the scheme is implemented”, LPI shareholders will receive A$0.57 in cash per LPI share. And that represents a significant premium of 119% compared to the undisturbed closing share price of A$0.26 per share on September 26, 2023. It’s also a 136% premium compared to the undisturbed 30-day volume weighted average price of A$0.242 per LPI share.

We tuned into a shareholders’ webinar yesterday to hear what some of the LPI leadership group had to say, and the vibe seemed pretty upbeat.

Chairman David Hannon noted: “he who writes the cheque, deserves the profit”, explaining that the takeover deal represents a de-risking for shareholders amid turbulent economic times, including geopolitical backdrop and “lithium price risks”. “These are high risk fields” to be operating in, he noted.

“It’s been a very long, thought-out process,” continued Hannon “and we weighed up all the pros and cons.

“We wholeheartedly believe this is a wonderful result for shareholders… and it’s probably time for the deep pockets of Codelco… to take the ball.”

 

Liontown Resources (ASX:LTR)

A $300m raise? So say ‘sources’

Meanwhile, probably the biggest headline act in this sector just lately has been another takeover narrative, with decidedly more drama attached – the Albemarle vs Hancock play for Liontown Resources.

As you may very well know by now, US chemical manufacturing giant Albemarle walked away from its planned $6.6bn takeover of WA lithium hunting gun Liontown amid Gina Rinehart’s Hancock Prospecting muscling in for a 19.9% stake.

With Albemarle out of the picture, fundraising to ensure Liontown can complete its $951 million Kathleen Valley mine is now in full swing.

Josh covers that perfectly here.

But further to that, there’s been a Wednesday update. Per The Australian‘s Bridget Carter:

“Liontown Resources was understood to have been closing in on a raise at close to $300m on Wednesday, with 19.9 per cent shareholder Gina Rinehart believed to be lining up as a participant.”

The report notes that investment bank UBS is working on the raise, adding:

“DataRoom understands that Liontown had been testing market appetite earlier in the week, first asking shareholders to buy stock at $2.50 per share, before winding the price back to $2.25 and then $2.

“As of Tuesday, there was talk that the price range was between $1.90 per share and $2.10 per share.

The thinking is that a price was likely at the lower end of that range, say sources, although some believe it could be even less – at $1.50 per share to appease hedge funds that need to close out their short selling positions.”

At the time of writing, LTR is under a trading halt, suspended until the start of trade on October 20.

 

And finally… something to leave you with – a head-spinningly detailed equity-relationships chart from iLiMarkets’ Daniel Jimenez, which shows how layered and interconnected the lithium-ion battery supply chain is.

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