Christmas hasn't quite come yet for lithium stocks. Pic: Getty Images
High Voltage: Lithium sentiment is up but prices are still under pressure
Mining
share
- CATL supply cuts have given lithium equity sentiment a boost
- But Benchmark Mineral Intelligence price assessments show there has been little immediate impact on chemical pricing
- Element 25 among the leading battery metals stock on US Government pump
Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.
Lithium miners saw a resurgence in the past couple weeks, spurred largely by the closure of a massive Chinese lepidolite mine owned by the world’s largest battery maker.
CATL’s suspension of its 5000-6000t LCE per month Jianxiawo operation in Yichun, Jianxi Province, sent Australian producers and explorers on a tear with investors picking up the delirious scent of a “bottom”.
Those supply cuts suggested even the most integrated producers in China were struggling at current prices, with UBS predicting 11-23% upside on lithium carbonate for the rest of 2024.
READ: Benchmark Gigafactories APAC: UBS calls lithium bottom, sends share prices surging
But over in China prices paid by battery and cathode making customers for lithium chemicals, a key input in electric vehicles, have been sliding ahead of public holidays.
According to Benchmark Mineral Intelligence’s latest weekly assessment, prices fell a bare 0.3% to a mid-point of RMB74,000/t for battery grade carbonate (up $100/t in USD terms to US$10,575/t thanks to a stronger Yuan).
That marked a 23.3% drop from the start of the year after a more than 80% collapse in 2023.
Lithium hydroxide also fell 0.4% (16.8%) on the year to RMB69,500/t (US$9950/t).
“In the week to 25 September, lithium hydroxide and lithium carbonate prices in China remained mostly flat as supply was sufficient to meet demand growth,” Benchmark’s analysts said.
“During the assessment period, domestic liquidity mounted as cathode producers procured material ahead of the National Day Golden Week holiday commencing on 1 October.
“Additionally, towards the end of the assessment period, the Chinese government announced a significant stimulus package, including funds earmarked for private sector purchase of domestic equities. This temporarily bolstered sentiment across several commodity markets, including lithium.
“However, contacts expressed doubts that the announcement would support lithium prices in the longer term, amid continued robust domestic chemicals supply.”
Shanghai Metals Market analyst William Gu said earlier this month that CATL could have other reasons to curb production from Jianxiawo, such as that they have already finished restocking for the fourth quarter while CATL may have downbeat expectations for battery demand in the December term.
Bechmark’s weekly cobalt assessment was similarly rough, with cobalt sulphate prices down 0.9% WoW and 14.7% YTD.
“This is once again a historic low for cobalt sulphate since Benchmark begun assessing prices in 2017, driven by a fall in the low end of the price range,” Benchmark said.
“Low end prices for cobalt sulphate originate from recycled material being sold at a discount, with the lower cost of producing recycled cobalt sulphate allowing sellers to undercut the market, however, the volume of recycled material still remains much smaller than primary cobalt sulphate.”
Panoramic closes in on return, but there are caveats
We hate to be the bearer of more bad news, but it’s worth pointing out that it’s always brightest before the dawn.
With that olive branch out of the way, investors, let’s burn it with the no doubt infuriating news stemming from the Panoramic Resources administration.
The owner of the failed Savannah nickel mine in WA’s north went under in December last year, with administrators FTI boarding up the nickel-copper-cobalt mine in January as prices for the battery metals caved in on rising supplies from Indonesia and the DRC.
Major investor Zeta Resources has been approved to take over the company and asset in a DOCA supported by the administrators and offtaker Trafigura.
But investors will receive nothing in the deal, with employees the only creditors to get their full 100% return.
Other non-secured creditors have been offered just 9.7c in the dollar.
But they’ll get nothing if the DOCA is approved by creditors and contractor Barminco is successful with court action in which it has pleaded to be regarded as a priority claimant.
If that happens and liquidation occurs instead of the DOCA, FTI estimates unsecured creditors walk away with just 0.24c in the dollar.
Ouch. At the very least, nickel has been stable in 2024. Counter-cyclical play anyone?
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 is performing >>>
| CODE | COMPANY | PRICE | WEEK % | MONTH % | 6 MONTH % | YEAR % | YTD % | MARKET CAP |
|---|---|---|---|---|---|---|---|---|
| PVW | PVW Res Ltd | 0.024 | 14% | 20% | -11% | -65% | -50% | $ 3,033,714.67 |
| A8G | Australasian Metals | 0.11 | 0% | -19% | 57% | -21% | -35% | $ 5,733,254.34 |
| INF | Infinity Lithium | 0.031 | -11% | -37% | -54% | -64% | -69% | $ 15,265,539.07 |
| PSC | Prospect Res Ltd | 0.09 | -7% | -18% | 10% | 11% | 1% | $ 54,411,776.78 |
| PAM | Pan Asia Metals | 0.054 | -19% | -43% | -66% | -72% | -57% | $ 10,608,087.08 |
| CXO | Core Lithium | 0.1 | 0% | 0% | -35% | -71% | -60% | $ 214,301,554.40 |
| LOT | Lotus Resources Ltd | 0.285 | 24% | 30% | -32% | 19% | 0% | $ 485,895,377.70 |
| AGY | Argosy Minerals Ltd | 0.036 | -16% | -10% | -72% | -79% | -73% | $ 52,413,153.62 |
| NWC | New World Resources | 0.02 | 11% | 11% | -51% | -35% | -49% | $ 53,965,352.74 |
| QXR | Qx Resources Limited | 0.007 | 0% | 17% | -59% | -71% | -70% | $ 6,660,467.12 |
| CAE | Cannindah Resources | 0.046 | 7% | -8% | -22% | -62% | -54% | $ 24,279,358.03 |
| AZL | Arizona Lithium Ltd | 0.015 | 0% | 0% | -38% | 0% | -52% | $ 67,107,217.92 |
| RIL | Redivium Limited | 0.005 | 0% | 0% | 25% | -38% | -29% | $ 8,240,564.43 |
| COB | Cobalt Blue Ltd | 0.073 | 7% | 4% | -50% | -73% | -69% | $ 29,995,706.90 |
| LPD | Lepidico Ltd | 0.003 | 0% | 50% | -37% | -68% | -61% | $ 25,767,374.65 |
| MRD | Mount Ridley Mines | 0.001 | 0% | 0% | -50% | -50% | -50% | $ 7,784,882.87 |
| CZN | Corazon Ltd | 0.005 | 25% | 0% | -55% | -62% | -67% | $ 3,339,527.95 |
| LKE | Lake Resources | 0.039 | -9% | 3% | -41% | -76% | -70% | $ 63,403,791.46 |
| DEV | Devex Resources Ltd | 0.165 | 22% | -15% | -40% | -54% | -31% | $ 64,045,147.30 |
| INR | Ioneer Ltd | 0.22 | 38% | 63% | 26% | -4% | 47% | $ 502,546,655.15 |
| MAN | Mandrake Res Ltd | 0.029 | 7% | 7% | -19% | -24% | -33% | $ 19,736,317.44 |
| RLC | Reedy Lagoon Corp. | 0.003 | 50% | 0% | -25% | -40% | -40% | $ 1,858,622.20 |
| GBR | Greatbould Resources | 0.058 | 23% | 29% | -2% | -5% | -11% | $ 34,638,692.69 |
| FRS | Forrestaniaresources | 0.013 | 8% | -32% | -24% | -72% | -54% | $ 2,103,214.66 |
| STK | Strickland Metals | 0.094 | -1% | -15% | 9% | 74% | -1% | $ 200,829,241.52 |
| MLX | Metals X Limited | 0.44 | 6% | 10% | 26% | 42% | 52% | $ 399,002,936.34 |
| CLA | Celsius Resource Ltd | 0.012 | 0% | -20% | -14% | 9% | 0% | $ 31,562,865.66 |
| FGR | First Graphene Ltd | 0.048 | -2% | 4% | -13% | -21% | -32% | $ 31,219,830.98 |
| HXG | Hexagon Energy | 0.021 | -9% | 17% | -9% | 133% | 75% | $ 11,797,065.72 |
| TLG | Talga Group Ltd | 0.385 | -1% | -3% | -49% | -66% | -51% | $ 156,501,723.79 |
| MNS | Magnis Energy Tech | 0.042 | 0% | 0% | 0% | -44% | 0% | $ 50,378,922.34 |
| PLL | Piedmont Lithium Inc | 0.13 | 18% | 0% | -30% | -79% | -70% | $ 51,304,000.00 |
| EUR | European Lithium Ltd | 0.038 | -3% | -3% | -47% | -48% | -64% | $ 53,128,660.32 |
| BKT | Black Rock Mining | 0.053 | -2% | 2% | -35% | -37% | -37% | $ 66,358,575.01 |
| QEM | QEM Limited | 0.1 | -19% | -22% | -34% | -50% | -42% | $ 13,625,254.08 |
| LYC | Lynas Rare Earths | 7.7 | 14% | 13% | 33% | 15% | 8% | $ 7,075,816,660.45 |
| ESR | Estrella Res Ltd | 0.014 | 100% | 180% | 180% | 100% | 180% | $ 25,447,872.83 |
| ARL | Ardea Resources Ltd | 0.41 | -1% | -7% | -41% | -31% | -14% | $ 81,869,995.15 |
| GLN | Galan Lithium Ltd | 0.11 | 10% | -22% | -70% | -81% | -84% | $ 68,547,402.21 |
| JLL | Jindalee Lithium Ltd | 0.24 | -4% | 4% | -67% | -85% | -76% | $ 16,414,111.23 |
| VUL | Vulcan Energy | 4.32 | 15% | 15% | 54% | 40% | 52% | $ 779,100,683.94 |
| SBR | Sabre Resources | 0.014 | 8% | 17% | -26% | -66% | -58% | $ 5,894,429.00 |
| CHN | Chalice Mining Ltd | 1.445 | -1% | 28% | 34% | -40% | -15% | $ 544,637,503.20 |
| VRC | Volt Resources Ltd | 0.004 | 0% | 14% | -33% | -47% | -38% | $ 14,555,373.44 |
| NMT | Neometals Ltd | 0.145 | 61% | 75% | 4% | -59% | -31% | $ 75,888,790.34 |
| AXN | Alliance Nickel Ltd | 0.043 | 10% | 34% | 23% | -30% | 0% | $ 29,759,424.22 |
| PNN | Power Minerals Ltd | 0.12 | 20% | 36% | -33% | -53% | -43% | $ 12,662,079.37 |
| IGO | IGO Limited | 5.45 | 7% | 4% | -23% | -55% | -40% | $ 4,043,810,121.42 |
| GED | Golden Deeps | 0.038 | 0% | 41% | -14% | -30% | -17% | $ 5,757,849.26 |
| ADV | Ardiden Ltd | 0.14 | 12% | 8% | -10% | -35% | -20% | $ 8,439,863.31 |
| SRI | Sipa Resources Ltd | 0.015 | 0% | 0% | -21% | -25% | -40% | $ 3,422,372.03 |
| NTU | Northern Min Ltd | 0.021 | -5% | -19% | -32% | -25% | -30% | $ 129,167,303.62 |
| AXE | Archer Materials | 0.19 | -16% | -24% | -68% | -58% | -50% | $ 47,146,697.41 |
| PGM | Platina Resources | 0.021 | 5% | -9% | 5% | -19% | 0% | $ 13,086,786.95 |
| AAJ | Aruma Resources Ltd | 0.016 | -6% | 0% | -6% | -50% | -41% | $ 3,774,988.92 |
| IXR | Ionic Rare Earths | 0.008 | 0% | 33% | -56% | -65% | -69% | $ 38,958,101.18 |
| NIC | Nickel Industries | 0.895 | 8% | 8% | 14% | 16% | 29% | $ 3,732,134,595.60 |
| EVG | Evion Group NL | 0.027 | 17% | 17% | 23% | -16% | -21% | $ 8,674,079.68 |
| CWX | Carawine Resources | 0.094 | 2% | 3% | -15% | -29% | -15% | $ 22,195,792.21 |
| PLS | Pilbara Min Ltd | 2.99 | 6% | 0% | -23% | -28% | -24% | $ 8,883,328,810.90 |
| HAS | Hastings Tech Met | 0.275 | -2% | 2% | -52% | -61% | -61% | $ 49,727,186.85 |
| BUX | Buxton Resources Ltd | 0.063 | 2% | -11% | -37% | -69% | -63% | $ 13,496,148.93 |
| ARR | American Rare Earths | 0.28 | 2% | -5% | 0% | 124% | 70% | $ 135,966,407.23 |
| SGQ | St George Min Ltd | 0.035 | 13% | 3% | 59% | -10% | 3% | $ 39,187,455.55 |
| TKL | Traka Resources | 0.001 | 0% | 0% | -50% | -75% | -67% | $ 1,945,658.55 |
| PRL | Province Resources | 0.041 | 0% | 0% | 0% | 0% | 0% | $ 48,441,218.86 |
| IPT | Impact Minerals | 0.013 | 8% | -7% | -7% | 8% | 18% | $ 42,832,072.05 |
| LIT | Lithium Australia | 0.022 | 5% | 10% | -29% | -37% | -27% | $ 27,046,468.93 |
| ARN | Aldoro Resources | 0.075 | -6% | 0% | -4% | -25% | -40% | $ 10,500,651.95 |
| JRV | Jervois Global Ltd | 0.014 | 27% | 27% | -44% | -61% | -68% | $ 29,730,401.64 |
| SYR | Syrah Resources | 0.255 | 19% | 16% | -50% | -45% | -60% | $ 263,897,400.33 |
| FBM | Future Battery | 0.018 | -10% | -18% | -68% | -84% | -75% | $ 13,307,118.56 |
| ADD | Adavale Resource Ltd | 0.003 | 20% | 20% | -50% | -78% | -57% | $ 3,059,413.42 |
| LTR | Liontown Resources | 0.725 | 12% | -8% | -38% | -76% | -56% | $ 1,661,128,342.80 |
| CTM | Centaurus Metals Ltd | 0.46 | 11% | 26% | 53% | -32% | -14% | $ 225,999,051.92 |
| VML | Vital Metals Limited | 0.003 | 50% | 50% | -25% | -70% | -54% | $ 11,790,133.90 |
| BSX | Blackstone Ltd | 0.04 | -7% | 14% | -37% | -65% | -43% | $ 22,173,350.51 |
| POS | Poseidon Nick Ltd | 0.0035 | 17% | -13% | -45% | -80% | -68% | $ 12,611,626.48 |
| CHR | Charger Metals | 0.08 | -10% | -13% | -33% | -38% | -52% | $ 6,580,721.25 |
| AVL | Aust Vanadium Ltd | 0.014 | -7% | 0% | -18% | -48% | -33% | $ 129,487,871.16 |
| AUZ | Australian Mines Ltd | 0.007 | 0% | 0% | -42% | -50% | -30% | $ 9,789,584.87 |
| RXL | Rox Resources | 0.13 | -4% | -4% | -16% | -50% | -29% | $ 53,377,387.31 |
| RNU | Renascor Res Ltd | 0.082 | -9% | -10% | -4% | -25% | -37% | $ 208,430,033.02 |
| GL1 | Globallith | 0.205 | 17% | -20% | -61% | -86% | -83% | $ 50,814,637.77 |
| ASN | Anson Resources Ltd | 0.077 | -13% | -22% | -13% | -49% | -45% | $ 100,786,000.07 |
| SYA | Sayona Mining Ltd | 0.029 | 12% | 7% | -26% | -69% | -59% | $ 288,212,288.39 |
| EGR | Ecograf Limited | 0.098 | 1% | -1% | -44% | -11% | -30% | $ 43,587,054.62 |
| ATM | Aneka Tambang | 1.03 | 0% | 0% | -6% | -11% | -13% | $ 1,342,758.47 |
| TVN | Tivan Limited | 0.05 | 4% | 11% | -9% | -32% | -17% | $ 86,403,313.86 |
| ALY | Alchemy Resource Ltd | 0.007 | 17% | 17% | 17% | -36% | -30% | $ 8,246,533.79 |
| GAL | Galileo Mining Ltd | 0.165 | 3% | -3% | -39% | -45% | -42% | $ 33,596,237.59 |
| BHP | BHP Group Limited | 43.36 | 11% | 7% | -1% | -2% | -14% | $ 216,655,580,727.60 |
| LEL | Lithenergy | 0.315 | 3% | -10% | -39% | -48% | -45% | $ 35,280,494.24 |
| ASL | Andean Silver | 1.17 | 0% | 38% | 196% | 342% | 333% | $ 135,913,829.12 |
| RMX | Red Mount Min Ltd | 0.001 | 0% | 0% | -43% | -71% | -62% | $ 3,873,577.31 |
| GW1 | Greenwing Resources | 0.042 | -11% | -30% | -40% | -69% | -69% | $ 9,314,555.92 |
| AQD | Ausquest Limited | 0.011 | 0% | 0% | 0% | -27% | 0% | $ 8,261,492.23 |
| LML | Lincoln Minerals | 0.006 | 0% | 20% | -14% | 20% | 0% | $ 12,337,557.12 |
| 1MC | Morella Corporation | 0.03 | -3% | -12% | -70% | -80% | -78% | $ 8,123,228.43 |
| REE | Rarex Limited | 0.013 | 8% | 0% | -19% | -64% | -54% | $ 10,271,710.15 |
| MRC | Mineral Commodities | 0.026 | 0% | 0% | 8% | -24% | -19% | $ 25,596,287.57 |
| PUR | Pursuit Minerals | 0.0025 | -17% | -17% | -50% | -75% | -69% | $ 9,088,499.97 |
| QPM | Queensland Pacific | 0.032 | 7% | 3% | -29% | -44% | -42% | $ 80,677,723.46 |
| EMH | European Metals Hldg | 0.15 | 0% | -25% | -44% | -79% | -65% | $ 31,116,705.75 |
| BMM | Balkanminingandmin | 0.045 | -2% | -6% | -26% | -79% | -59% | $ 3,871,823.09 |
| PEK | Peak Rare Earths Ltd | 0.19 | -5% | -7% | -5% | -51% | -46% | $ 50,621,825.21 |
| LEG | Legend Mining | 0.013 | -7% | 8% | -13% | -45% | -7% | $ 37,823,203.41 |
| MOH | Moho Resources | 0.006 | 0% | 33% | 0% | -33% | -40% | $ 3,235,069.18 |
| AML | Aeon Metals Ltd. | 0.005 | 0% | 0% | -17% | -67% | -55% | $ 5,482,003.11 |
| G88 | Golden Mile Res Ltd | 0.01 | 11% | 0% | -9% | -69% | -47% | $ 4,112,228.55 |
| WKT | Walkabout Resources | 0.11 | 13% | 12% | -8% | -4% | -21% | $ 73,838,759.61 |
| TON | Triton Min Ltd | 0.011 | -15% | 0% | -31% | -48% | -52% | $ 15,683,887.34 |
| AR3 | Austrare | 0.075 | 25% | 7% | -32% | -68% | -50% | $ 11,847,280.88 |
| ARU | Arafura Rare Earths | 0.17 | 10% | 6% | -13% | -29% | 3% | $ 394,292,590.56 |
| MIN | Mineral Resources. | 43.13 | 16% | -4% | -38% | -37% | -38% | $ 8,114,253,159.16 |
| VMC | Venus Metals Cor Ltd | 0.061 | -3% | -13% | -45% | -53% | -39% | $ 11,383,720.98 |
| S2R | S2 Resources | 0.079 | -10% | -25% | -39% | -55% | -52% | $ 35,322,923.45 |
| CNJ | Conico Ltd | 0.002 | 100% | 100% | 0% | -71% | -60% | $ 4,403,055.06 |
| VR8 | Vanadium Resources | 0.044 | 5% | 7% | -4% | -27% | -19% | $ 25,318,134.18 |
| PVT | Pivotal Metals Ltd | 0.011 | -21% | -15% | -21% | -45% | -56% | $ 7,745,301.14 |
| BOA | Boadicea Resources | 0.02 | 5% | 0% | -13% | -47% | -44% | $ 2,837,115.48 |
| IPX | Iperionx Limited | 3.17 | 18% | 42% | 38% | 122% | 128% | $ 827,279,303.13 |
| SLZ | Sultan Resources Ltd | 0.006 | 0% | -14% | -50% | -73% | -73% | $ 1,185,518.93 |
| SMX | Strata Minerals | 0.025 | -11% | 19% | -17% | -58% | -32% | $ 4,883,194.39 |
| NVA | Nova Minerals Ltd | 0.135 | -23% | -13% | -52% | -41% | -63% | $ 34,097,963.34 |
| MLS | Metals Australia | 0.024 | -8% | 20% | 9% | -27% | -35% | $ 18,907,707.62 |
| MQR | Marquee Resource Ltd | 0.016 | 0% | 39% | -20% | -54% | -38% | $ 6,662,150.11 |
| MRR | Minrex Resources Ltd | 0.008 | -11% | -11% | -38% | -43% | -53% | $ 9,221,373.78 |
| EVR | Ev Resources Ltd | 0.005 | 0% | 25% | -44% | -62% | -55% | $ 6,981,357.43 |
| EFE | Eastern Resources | 0.0045 | 0% | 13% | -44% | -50% | -44% | $ 4,967,785.84 |
| CNB | Carnaby Resource Ltd | 0.42 | 15% | 5% | -37% | -49% | -47% | $ 63,616,781.02 |
| BNR | Bulletin Res Ltd | 0.047 | 12% | -4% | -29% | -36% | -66% | $ 13,799,826.18 |
| AX8 | Accelerate Resources | 0.011 | 22% | 22% | -73% | -54% | -74% | $ 6,217,539.32 |
| AM7 | Arcadia Minerals | 0.036 | -3% | 16% | -49% | -64% | -51% | $ 3,979,703.40 |
| AS2 | Askarimetalslimited | 0.021 | 17% | 5% | -67% | -90% | -88% | $ 1,961,402.92 |
| BYH | Bryah Resources Ltd | 0.005 | 0% | 11% | -50% | -69% | -62% | $ 2,516,434.28 |
| DTM | Dart Mining NL | 0.016 | 7% | -3% | 3% | -29% | 3% | $ 5,168,657.44 |
| EMS | Eastern Metals | 0.018 | -33% | -22% | -38% | -42% | -49% | $ 2,159,848.66 |
| FG1 | Flynngold | 0.03 | 3% | 3% | -18% | -33% | -34% | $ 7,647,494.10 |
| GSM | Golden State Mining | 0.011 | 10% | 0% | 10% | -69% | -27% | $ 3,073,076.93 |
| IMI | Infinitymining | 0.02 | 43% | -26% | -71% | -85% | -86% | $ 2,443,394.38 |
| LRV | Larvottoresources | 0.385 | 3% | -4% | 466% | 237% | 450% | $ 114,698,598.81 |
| LSR | Lodestar Minerals | 0.001 | 0% | -33% | -38% | -79% | -69% | $ 3,372,328.92 |
| RAG | Ragnar Metals Ltd | 0.019 | 0% | -5% | -5% | -17% | -21% | $ 9,005,638.35 |
| CTN | Catalina Resources | 0.004 | 33% | 60% | 0% | -20% | -11% | $ 3,096,217.23 |
| TMB | Tambourahmetals | 0.038 | 9% | -10% | -51% | -80% | -66% | $ 3,510,019.15 |
| TEM | Tempest Minerals | 0.01 | 11% | 0% | 16% | 10% | 31% | $ 6,272,697.89 |
| EMC | Everest Metals Corp | 0.125 | 9% | 14% | 56% | 14% | 56% | $ 23,285,388.63 |
| WML | Woomera Mining Ltd | 0.002 | -20% | 0% | -56% | -83% | -93% | $ 3,036,278.00 |
| KZR | Kalamazoo Resources | 0.079 | -1% | -9% | -9% | -21% | -34% | $ 14,774,054.41 |
| LMG | Latrobe Magnesium | 0.029 | -3% | -15% | -39% | -37% | -54% | $ 70,456,121.25 |
| KOR | Korab Resources | 0.008 | 0% | 0% | -20% | -58% | -50% | $ 2,936,400.00 |
| CMX | Chemxmaterials | 0.036 | 0% | -5% | -32% | -64% | -56% | $ 5,031,870.52 |
| NC1 | Nicoresourceslimited | 0.1 | -9% | -20% | -38% | -76% | -71% | $ 10,726,156.35 |
| GRE | Greentechmetals | 0.093 | -1% | 1% | -66% | -79% | -80% | $ 8,058,757.58 |
| CMO | Cosmometalslimited | 0.028 | 4% | 0% | -33% | -46% | -51% | $ 3,667,800.47 |
| FRB | Firebird Metals | 0.13 | 24% | 18% | 8% | -7% | -10% | $ 19,930,596.14 |
| S32 | South32 Limited | 3.53 | 10% | 17% | 19% | 6% | 6% | $ 15,535,356,888.24 |
| OMH | OM Holdings Limited | 0.38 | 7% | -1% | -10% | -22% | -15% | $ 291,177,584.38 |
| JMS | Jupiter Mines. | 0.17 | 6% | -17% | -21% | -13% | 3% | $ 333,285,904.23 |
| E25 | Element 25 Ltd | 0.35 | 67% | 63% | 49% | -24% | -17% | $ 80,268,026.37 |
| EMN | Euromanganese | 0.048 | -11% | 30% | -46% | -67% | -52% | $ 10,556,335.87 |
| KGD | Kula Gold Limited | 0.008 | -11% | -11% | 0% | -48% | -47% | $ 6,432,119.21 |
| LRS | Latin Resources Ltd | 0.205 | 8% | 3% | 17% | -21% | -28% | $ 574,290,989.92 |
| CRR | Critical Resources | 0.01 | -9% | 0% | -29% | -74% | -52% | $ 19,583,853.07 |
| ENT | Enterprise Metals | 0.003 | -25% | 0% | 0% | -25% | -25% | $ 3,309,951.75 |
| SCN | Scorpion Minerals | 0.02 | 0% | 43% | -50% | -67% | -39% | $ 7,779,667.65 |
| GCM | Green Critical Min | 0.002 | -20% | -20% | -60% | -67% | -78% | $ 2,937,085.28 |
| ENV | Enova Mining Limited | 0.009 | 0% | 13% | -67% | 50% | -40% | $ 9,849,293.49 |
| RBX | Resource B | 0.034 | 0% | -17% | -26% | -78% | -55% | $ 2,811,272.49 |
| AKN | Auking Mining Ltd | 0.005 | -29% | -58% | -76% | -93% | -89% | $ 1,677,850.78 |
| RR1 | Reach Resources Ltd | 0.014 | 0% | -13% | 12% | -80% | -24% | $ 12,242,038.89 |
| EMT | Emetals Limited | 0.004 | 0% | 0% | -20% | -56% | -43% | $ 3,400,000.00 |
| PNT | Panthermetalsltd | 0.02 | -17% | -5% | -18% | -58% | -52% | $ 5,413,018.67 |
| WIN | WIN Metals | 0.044 | 33% | 91% | -21% | -77% | -51% | $ 13,857,463.45 |
| WMG | Western Mines | 0.245 | 14% | -4% | 40% | -21% | -6% | $ 18,733,236.94 |
| AVW | Avira Resources Ltd | 0.001 | 0% | 0% | -33% | -33% | -50% | $ 2,938,790.00 |
| CAI | Calidus Resources | 0.115 | 0% | 0% | -4% | -28% | -47% | $ 93,678,205.58 |
| GT1 | Greentechnology | 0.089 | 1% | -6% | -36% | -81% | -69% | $ 31,747,688.73 |
| KAI | Kairos Minerals Ltd | 0.013 | 8% | 30% | 0% | -41% | -7% | $ 34,201,858.46 |
| MTM | MTM Critical Metals | 0.069 | -1% | 15% | -4% | 77% | 1% | $ 19,958,586.35 |
| NWM | Norwest Minerals | 0.022 | 10% | -4% | -19% | -24% | -19% | $ 10,672,629.22 |
| PGD | Peregrine Gold | 0.16 | 7% | -14% | -18% | -46% | -33% | $ 12,896,899.99 |
| RAS | Ragusa Minerals Ltd | 0.016 | 7% | 0% | -36% | -48% | -56% | $ 2,138,981.79 |
| RGL | Riversgold | 0.005 | 11% | 25% | -29% | -58% | -58% | $ 5,309,850.37 |
| SRZ | Stellar Resources | 0.017 | 0% | 0% | 21% | 55% | 143% | $ 31,195,758.53 |
| STM | Sunstone Metals Ltd | 0.006 | 20% | -40% | -50% | -67% | -60% | $ 21,629,518.18 |
| ZNC | Zenith Minerals Ltd | 0.043 | 2% | 2% | -50% | -53% | -71% | $ 13,038,092.67 |
| WC8 | Wildcat Resources | 0.25 | 19% | -12% | -63% | -37% | -64% | $ 306,016,074.50 |
| ASO | Aston Minerals Ltd | 0.013 | -7% | 18% | -10% | -64% | -46% | $ 16,835,835.50 |
| THR | Thor Energy PLC | 0.017 | 0% | 6% | -29% | -62% | -43% | $ 3,914,645.57 |
| YAR | Yari Minerals Ltd | 0.004 | 33% | 33% | -33% | -79% | -65% | $ 1,929,431.25 |
| IG6 | Internationalgraphit | 0.073 | 4% | 7% | -53% | -59% | -54% | $ 13,742,641.43 |
| LPM | Lithium Plus | 0.1 | -9% | 2% | -33% | -75% | -72% | $ 12,619,800.00 |
| ODE | Odessa Minerals Ltd | 0.002 | -33% | -33% | -60% | -83% | -78% | $ 2,086,565.07 |
| KOB | Kobaresourceslimited | 0.12 | 14% | -17% | 14% | 50% | 71% | $ 19,027,393.68 |
| AZI | Altamin Limited | 0.032 | 3% | -3% | -36% | -50% | -42% | $ 14,043,169.09 |
| FTL | Firetail Resources | 0.099 | 22% | 38% | 154% | -1% | 35% | $ 33,124,797.50 |
| LNR | Lanthanein Resources | 0.003 | 0% | 0% | 0% | -63% | -74% | $ 7,330,908.38 |
| CLZ | Classic Min Ltd | 0.001 | 0% | 0% | -93% | -98% | -98% | $ 1,439,025.56 |
| NVX | Novonix Limited | 0.63 | 16% | 3% | -29% | -23% | -14% | $ 274,029,582.23 |
| OCN | Oceanalithiumlimited | 0.03 | -23% | -3% | -45% | -86% | -75% | $ 2,474,940.00 |
| SUM | Summitminerals | 0.275 | 10% | 22% | 337% | 96% | 178% | $ 23,611,836.64 |
| DVP | Develop Global Ltd | 2.29 | 16% | 9% | -4% | -26% | -19% | $ 562,556,806.58 |
| OD6 | Od6Metalsltd | 0.041 | -9% | -5% | -53% | -76% | -71% | $ 5,147,606.92 |
| HRE | Heavy Rare Earths | 0.032 | 0% | 3% | -20% | -65% | -50% | $ 2,184,804.80 |
| LIN | Lindian Resources | 0.105 | -5% | -5% | -13% | -57% | -28% | $ 121,056,834.78 |
| PEK | Peak Rare Earths Ltd | 0.19 | -5% | -7% | -5% | -51% | -46% | $ 50,621,825.21 |
| ILU | Iluka Resources | 6.81 | 16% | 17% | -6% | -13% | 3% | $ 2,821,787,639.22 |
| ASM | Ausstratmaterials | 0.53 | -4% | 3% | -64% | -65% | -58% | $ 91,566,416.18 |
| ETM | Energy Transition | 0.024 | -4% | 14% | -35% | -37% | -38% | $ 38,035,134.31 |
| CRI | Criticalim | 0.012 | -8% | -29% | -48% | 0% | 71% | $ 32,049,608.51 |
| IDA | Indiana Resources | 0.097 | 4% | 5% | 26% | 54% | 22% | $ 60,265,271.22 |
| VTM | Victory Metals Ltd | 0.4 | -20% | 13% | 54% | 111% | 90% | $ 41,812,416.98 |
| M2R | Miramar | 0.007 | 0% | -36% | -59% | -86% | -65% | $ 3,174,586.28 |
| WCN | White Cliff Min Ltd | 0.021 | 24% | 50% | 40% | 62% | 133% | $ 30,958,360.87 |
| TAR | Taruga Minerals | 0.009 | 13% | 0% | 29% | -10% | -18% | $ 5,648,214.28 |
| ABX | ABX Group Limited | 0.041 | 0% | -13% | -23% | -48% | -43% | $ 10,751,733.50 |
| MEK | Meeka Metals Limited | 0.059 | 5% | 2% | 69% | 23% | 48% | $ 79,814,688.80 |
| RR1 | Reach Resources Ltd | 0.014 | 0% | -13% | 12% | -80% | -24% | $ 12,242,038.89 |
| DRE | Dreadnought Resources Ltd | 0.015 | 0% | -17% | -17% | -72% | -50% | $ 56,197,687.50 |
| KFM | Kingfisher Mining | 0.075 | 10% | 25% | -18% | -59% | -50% | $ 4,028,625.08 |
| AOA | Ausmon Resorces | 0.003 | 0% | 0% | 0% | -14% | 0% | $ 3,176,998.03 |
| WC1 | Westcobarmetals | 0.026 | -7% | -13% | -46% | -69% | -66% | $ 4,422,509.60 |
| GRL | Godolphin Resources | 0.015 | -6% | 15% | -57% | -58% | -62% | $ 3,422,259.54 |
| DM1 | Desert Metals | 0.024 | 4% | 14% | -20% | -47% | -53% | $ 6,370,216.63 |
| PTR | Petratherm Ltd | 0.051 | 13% | 155% | 183% | -6% | 46% | $ 13,582,312.55 |
| ITM | Itech Minerals Ltd | 0.073 | 12% | 1% | -6% | -46% | -34% | $ 11,780,741.77 |
| KTA | Krakatoa Resources | 0.012 | 9% | 20% | 50% | -43% | -67% | $ 5,665,286.64 |
| M24 | Mamba Exploration | 0.012 | -20% | 9% | -54% | -79% | -76% | $ 2,256,987.31 |
| LNR | Lanthanein Resources | 0.003 | 0% | 0% | 0% | -63% | -74% | $ 7,330,908.38 |
| TKM | Trek Metals Ltd | 0.031 | -6% | -24% | -11% | -43% | -23% | $ 15,917,658.72 |
| BCA | Black Canyon Limited | 0.058 | 12% | -22% | -42% | -52% | -59% | $ 4,741,816.91 |
| CDT | Castle Minerals | 0.003 | -25% | -25% | -54% | -67% | -68% | $ 4,118,442.32 |
| DLI | Delta Lithium | 0.24 | 12% | 9% | -23% | -68% | -49% | $ 167,650,678.37 |
| A11 | Atlantic Lithium | 0.235 | -6% | -16% | -36% | -49% | -41% | $ 155,920,572.72 |
| KNI | Kunikolimited | 0.17 | 6% | 6% | -37% | -48% | -43% | $ 14,750,775.56 |
| CY5 | Cygnus Metals Ltd | 0.075 | -1% | 14% | 53% | -59% | -44% | $ 29,623,221.42 |
| WR1 | Winsome Resources | 0.51 | 2% | -11% | -40% | -65% | -51% | $ 109,248,767.47 |
| LLI | Loyal Lithium Ltd | 0.13 | 8% | -7% | -55% | -82% | -58% | $ 11,127,967.56 |
| BC8 | Black Cat Syndicate | 0.445 | 20% | 20% | 107% | 75% | 78% | $ 190,734,961.11 |
| BUR | Burleyminerals | 0.053 | -34% | -56% | -18% | -71% | -68% | $ 7,518,547.20 |
| PBL | Parabellumresources | 0.055 | -2% | 45% | -21% | -84% | -21% | $ 3,426,500.06 |
| L1M | Lightning Minerals | 0.065 | -10% | -19% | -4% | -52% | -54% | $ 6,698,254.43 |
| WA1 | Wa1Resourcesltd | 15.01 | 4% | -9% | 31% | 185% | 21% | $ 969,094,693.44 |
| EV1 | Evolutionenergy | 0.03 | 25% | 3% | -71% | -82% | -79% | $ 12,619,850.01 |
| 1AE | Auroraenergymetals | 0.048 | 14% | -11% | -54% | -64% | -58% | $ 8,236,931.90 |
| RVT | Richmond Vanadium | 0.3 | -2% | 15% | -13% | -21% | 7% | $ 25,862,341.80 |
| PMT | Patriotbatterymetals | 0.395 | 4% | -22% | -56% | -69% | -65% | $ 232,425,847.50 |
| PAT | Patriot Lithium | 0.036 | 3% | -23% | -61% | -81% | -80% | $ 3,725,296.74 |
| BM8 | Battery Age Minerals | 0.115 | -8% | -4% | 15% | -57% | -39% | $ 10,697,776.10 |
| OM1 | Omnia Metals Group | 0.078 | 0% | 0% | 0% | -6% | 0% | $ 4,550,567.66 |
| VHM | Vhmlimited | 0.565 | 3% | 13% | 12% | 7% | -20% | $ 91,892,820.32 |
| LLL | Leolithiumlimited | 0.505 | 0% | 0% | 0% | 0% | 0% | $ 605,458,341.55 |
| SRN | Surefire Rescs NL | 0.006 | 0% | 0% | -40% | -60% | -29% | $ 11,917,846.88 |
| SRL | Sunrise | 0.43 | 1% | 2% | -34% | -45% | -5% | $ 42,406,924.06 |
| SYR | Syrah Resources | 0.255 | 19% | 16% | -50% | -45% | -60% | $ 263,897,400.33 |
| EG1 | Evergreenlithium | 0.041 | 3% | -11% | -63% | -86% | -78% | $ 2,305,430.00 |
| WSR | Westar Resources | 0.008 | -11% | 14% | -29% | -61% | -55% | $ 3,588,523.32 |
| LU7 | Lithium Universe Ltd | 0.0105 | -13% | -19% | -48% | -80% | -69% | $ 6,236,092.42 |
| MEI | Meteoric Resources | 0.11 | 18% | 5% | -53% | -52% | -58% | $ 240,577,177.37 |
| REC | Rechargemetals | 0.024 | 0% | -27% | -53% | -88% | -75% | $ 3,352,559.21 |
| SLM | Solismineralsltd | 0.093 | -1% | -7% | -7% | -67% | -36% | $ 7,273,936.11 |
| DYM | Dynamicmetalslimited | 0.185 | -10% | 19% | -5% | -14% | 32% | $ 6,660,000.00 |
| TOR | Torque Met | 0.085 | -15% | -26% | -39% | -77% | -61% | $ 15,075,114.08 |
| ICL | Iceni Gold | 0.04 | 14% | 3% | 67% | -52% | -23% | $ 9,819,397.87 |
| TMX | Terrain Minerals | 0.004 | 0% | 33% | 0% | 0% | -20% | $ 7,064,115.21 |
| MHC | Manhattan Corp Ltd | 0.001 | 0% | 0% | -52% | -85% | -70% | $ 3,092,533.34 |
| MHK | Metalhawk. | 0.17 | 21% | 81% | 162% | 48% | 26% | $ 16,610,550.33 |
| ANX | Anax Metals Ltd | 0.022 | 5% | 0% | -4% | -45% | -27% | $ 14,586,659.93 |
| FIN | FIN Resources Ltd | 0.005 | 0% | -17% | -72% | -50% | -77% | $ 3,895,612.20 |
| LM1 | Leeuwin Metals Ltd | 0.085 | 0% | 8% | 10% | -67% | -39% | $ 3,982,392.04 |
| HAW | Hawthorn Resources | 0.058 | 5% | -5% | -23% | -42% | -38% | $ 19,095,889.94 |
| LCY | Legacy Iron Ore | 0.013 | 0% | -7% | -13% | -13% | -24% | $ 100,276,127.41 |
| RON | Roninresourcesltd | 0.105 | 0% | 0% | -13% | -25% | -43% | $ 3,866,626.05 |
| ASR | Asra Minerals Ltd | 0.005 | -17% | -17% | 11% | -38% | -29% | $ 11,157,789.99 |
| PFE | Panteraminerals | 0.027 | 4% | 29% | -37% | -48% | -48% | $ 8,717,614.35 |
| KM1 | Kalimetalslimited | 0.115 | -8% | -28% | -73% | 0% | 0% | $ 9,219,314.88 |
| LTM | Arcadium Lithium PLC | 3.93 | 10% | -2% | -42% | 0% | -65% | $ 1,335,267,221.26 |
| KNG | Kingsland Minerals | 0.205 | 24% | 8% | -28% | -18% | -28% | $ 12,289,960.00 |
In a massive windfall for the junior, E25 snapped up a US$166m ($243m) grant from the US Department of Energy for the construction of its battery-grade, high-purity manganese sulphate monohydrate (HPMSM) facility in Louisiana.
The awarding of the grant comes on the back of US$115m already committed by automaker offtake partners General Motors and Stellantis.
In mid-2023, E25 secured a US$85 million loan with GM, whereby E25 will supply up to 32,500t of manganese sulphate annually for GM’s Ultium battery plant requirements.
From Stellantis, it’s signed take-or-pay offtake commitments for 45ktpa of HPMSM over five years and U$30 million of project funding.
Feedstock for the US plant will come from E25’s 260Mt Butcherbird manganese mine south of Newman in WA.
It came alongside the announcement of an identical grant for a manganese plant at South32’s (ASX:S32) Hermosa project in Arizona.
Around 96% of the world’s HPMSM is manufactured in China and while only a small portion of overall manganese demand, that poses a critical issue for US carmakers hoping to produce IRA compliant electric vehicles.
Speaking of manganese, Estrella shares have surged this week as it puts the final touches on the acquisition of a manganese project in Timor-Leste.
The one-time WA nickel and lithium explorer, which has pottered around the small end of the ASX for years, has seen a sudden spike in interest in recent days.
It’s now in a trading halt. How interesting.
The $30 million minnow has called for the halt “pending an announcement regarding the outcome of the grant ceremony in Laga for its TimorLeste mineral concession applications and announcement regarding exploration results.”
Chris Reed’s Neometals has worn plenty of hats over its time.
After making a motsa with the well-timed trade of its 13.8% stake in the Mt Marion lithium mine to MinRes and Ganfeng for $104 million in 2019, immediately before a big dive in lithium prices, the company has focused on the European market for battery metals recycling.
It has also retained the massive Barrambie titanium and vanadium resource in WA.
This week, however, it seems like gold is behind the company’s gains, with an exploration target on tenements within 40km of Barrambie announced on Monday of 8Mt at an average grade of 1.3g/t Au and 10.5Mt at an average grade of 2.3g/t Au, for an implied 335,000 ounces to 775,000 ounces gold.
Gold prices hit a fresh record on Wednesday of US$2661/oz in London, no doubt turning the heads of explorers who have seen battery metals prices remain in the doldrums for the past 18 months.
