• Debuting battery metals stocks have emphatically outperformed the wider IPO market this year
  • Investor 101: A quick look at sedimentary lithium deposits
  • Lithium prices soften (finally!) as China hits the skids

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

 

The smart money is in battery metals IPOs

Debuting battery metals stocks have emphatically outperformed the wider IPO market this year.

Yesterday’s rocket, Lithium Plus (ASX:LPM), up 180% on debut, is just part of a wider trend in 2022.

Most of these stocks have also maintained those early gains — just look at recent debutantes NiCo Resources (ASX:NC1) +740%, International Graphite (ASX:IG6) +110%, Killi Resources (ASX:KLI) +52.5%, Firetail Resources (ASX:FTL) +50% and Lord Resources (ASX:LRD +50%. Who’s next?

 

Investor 101: A quick look at sedimentary lithium deposits

Sediment hosted or clay lithium deposits — like that championed by punter favourite Arizona Lithium (ASX:AZL)  (‘Big Sandy’), Lithium Americas (TSX:LAC) (‘Thacker Pass’) or Rio Tinto (ASX:RIO) (‘Jadar’) — are different to their better-known hard rock and brines counterparts.

For starters, there are no operating mines based on sedimentary resources yet; something that companies like AZL hope to change.

“Lithium rich clay deposits often form due of leaching of lithium from lavas, volcaniclastics and magmas by meteoric and hydrothermal fluids around sufficiently large eruptive volcanic systems to produce caldera lakes,” analyst Warwick Grigor says.

“The lithium enriched fluids then either precipitate out lithium salts or react with the clay rich sediments that accumulate within the caldera lakes to produce hectorite clay deposits.”

Grigor says clay deposits are promoted as having more favourable chemistry than pegmatites or brines.

“Just as nature has started the process of releasing rare earths from the original mineralogy of primary deposits, sedimentary lithium deposits are created when lithium is washed out of volcanic minerals into basins where it reacts with other minerals, creating chemical structures in which the lithium is bound up in a mineral, but much less strongly bound compared to spodumene,” he says.

“The lack of requirement to roast the sediment is an ESG positive attribute for these resources.

“As a generalisation you would expect sedimentary deposits to be lower grade than hard rock pegmatites, but mining and production costs should be cheaper.”

 

Lithium prices soften (finally!) as China hits the skids

Weakening Chinese demand saw battery-grade lithium carbonate prices in Asia trend downward for the first time since September last year, Fastmarkets said late last week.

Multiple car makers, including Tesla and SAIC Volkswagen Automotive, suspended production of EVs due to the Covid-19 situation in China during early April.

Lower EV production = less demand for lithium.

“The mainstream lithium carbonate prices in the seaborne market are softening due to [the decreasing] Chinese prices,” a trader in Asia told Fastmarkets.

“Many downstream consumers, such as cathode materials producers, have enough stock, and they primarily rely on existing stock and supply secured through long-term contracts. They don’t have much demand for spot materials,” another Chinese lithium trader said.

Spot lithium prices in Europe and the US held steady over the past seven days, with most sources saying that buyers were trying to resist any upward movement and instead take a “wait-and-see approach” while consuming leftover inventory.

“I have noticed that buyers have been inquiring for lower volumes since the beginning of the [current] quarter and [they] are just waiting things out because there are expectations that the downward correction seen in China’s domestic market could spread overseas,” a lithium refiner and distributor source active in Europe said.

 

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>>>

Battery metals stocks missing from our list? Shoot a mail to [email protected]. Be nice, he’s fragile.

CODE COMPANY PRICE % Week % Month % Six Month % Year MARKET CAP
VIA Viagold Rare Earth 2 0% 0% 0% 2339% $166,624,808.00
SYA Sayona Mining Ltd 0.345 1% 50% 109% 764% $2,583,578,876.40
RBX Resource B 0.24 -2% 30% 26% 606% $10,586,110.03
CRR Critical Resources 0.1 20% 28% 178% 567% $156,062,134.62
ESS Essential Metals Ltd 0.62 13% 28% 210% 553% $167,375,201.60
LKE Lake Resources 2.02 0% 14% 128% 552% $2,723,389,545.20
PSC Prospect Res Ltd 0.945 9% 6% 108% 530% $409,728,993.15
AVZ AVZ Minerals Ltd 1.06 -10% -7% 231% 458% $3,846,315,425.32
CXO Core Lithium 1.345 -2% 10% 136% 417% $2,394,910,788.17
AGY Argosy Minerals Ltd 0.46 -6% 6% 64% 395% $649,928,704.32
HNR Hannans Ltd 0.032 -3% -18% -3% 363% $88,613,230.18
EFE Eastern Resources 0.047 -6% -10% -4% 358% $49,721,831.55
AZL Arizona Lithium Ltd 0.18 6% 16% 94% 350% $411,498,615.22
AZL Arizona Lithium Ltd 0.18 6% 16% 94% 350% $411,498,615.22
CAE Cannindah Resources 0.3 -23% -6% 25% 335% $176,134,884.42
STM Sunstone Metals Ltd 0.068 -3% -17% 11% 325% $179,987,019.38
ARR American Rare Earths 0.39 -11% -13% 86% 319% $159,717,799.08
LMG Latrobe Magnesium 0.079 -12% -10% 139% 295% $128,295,324.08
TEM Tempest Minerals 0.092 -8% 300% 300% 293% $39,919,917.50
LTR Liontown Resources 1.445 -13% -25% -16% 292% $3,441,793,560.86
PAM Pan Asia Metals 0.545 -1% -7% -5% 276% $40,512,254.20
QXR Qx Resources Limited 0.069 -10% 13% 156% 263% $60,974,087.11
LRS Latin Resources Ltd 0.17 -15% 124% 240% 262% $319,698,653.67
ARL Ardea Resources Ltd 1.675 -11% 2% 251% 248% $311,101,811.62
STK Strickland Metals 0.069 8% 28% -22% 245% $85,749,246.50
NMT Neometals Ltd 1.625 -7% -6% 84% 242% $970,626,220.92
MRR Minrex Resources Ltd 0.07 -5% 6% 250% 233% $63,946,220.50
VR8 Vanadium Resources 0.175 67% 127% 127% 230% $70,966,856.10
CNB Carnaby Resource Ltd 1.23 -5% -8% 310% 228% $182,289,771.31
BNR Bulletin Res Ltd 0.22 0% 0% 193% 221% $68,170,206.24
AVL Aust Vanadium Ltd 0.073 3% 12% 198% 217% $256,779,508.13
FFX Firefinch Ltd 1.03 -8% 9% 69% 212% $1,293,461,327.00
RNU Renascor Res Ltd 0.31 0% 5% 138% 210% $591,231,757.27
KOR Korab Resources 0.036 -10% -14% 33% 200% $13,947,900.00
MLS Metals Australia 0.15 -14% 58% 275% 200% $61,357,325.12
PVW PVW Res Ltd 0.4 -5% -20% -10% 196% $34,530,199.67
PNN PepinNini Minerals 0.795 -6% 79% 42% 194% $50,826,140.62
MLX Metals X Limited 0.675 -4% -2% 82% 193% $671,376,889.58
LPI Lithium Pwr Int Ltd 0.79 -5% 18% 82% 182% $295,027,396.56
LOT Lotus Resources Ltd 0.335 -15% -3% -8% 168% $352,243,967.40
MCR Mincor Resources NL 2.33 -9% 2% 70% 138% $1,176,964,084.80
GBR Greatbould Resources 0.105 -14% -19% -40% 133% $52,734,021.63
PLS Pilbara Min Ltd 2.66 -10% -17% 27% 132% $8,245,830,714.61
CAI Calidus Resources 0.96 -6% -3% 60% 129% $410,342,948.16
GME GME Resources Ltd 0.14 8% 67% 92% 126% $89,098,614.30
GLN Galan Lithium Ltd 1.74 -13% 2% 39% 123% $585,945,671.85
RR1 Reach Resources Ltd 0.008 0% 0% 0% 118% $15,280,405.11
COB Cobalt Blue Ltd 0.83 -10% 1% 93% 110% $272,714,415.57
CTM Centaurus Metals Ltd 1.385 -9% 3% 24% 107% $619,304,095.85
PAN Panoramic Resources 0.32 -7% 8% 39% 106% $687,056,191.34
ARU Arafura Resource Ltd 0.36 -9% 22% 64% 106% $573,654,412.84
JRV Jervois Global Ltd 0.84 -13% -5% 38% 105% $1,367,775,864.90
ALY Alchemy Resource Ltd 0.032 78% 146% 146% 104% $25,713,312.03
BKT Black Rock Mining 0.28 8% 12% 37% 100% $261,721,204.20
EVR Ev Resources Ltd 0.055 -11% 0% 45% 96% $54,633,060.19
KTA Krakatoa Resources 0.115 -4% 145% 92% 95% $38,312,289.21
MQR Marquee Resource Ltd 0.13 4% 13% 67% 91% $39,576,408.17
AKE Allkem Limited 11.84 -12% 8% 29% 87% $8,136,517,177.36
PGD Peregrine Gold 0.505 5% 5% 28% 80% $19,621,917.86
ASN Anson Resources Ltd 0.135 -7% -4% 53% 80% $133,628,603.55
IGO IGO Limited 12.77 -9% -7% 30% 79% $10,276,124,222.41
INR Ioneer Ltd 0.65 -8% 17% -7% 78% $1,390,214,685.34
LPD Lepidico Ltd 0.037 -5% -3% 42% 76% $247,093,910.62
DEV Devex Resources Ltd 0.51 2% 7% 52% 76% $182,226,702.02
ZNC Zenith Minerals Ltd 0.405 1% 8% 62% 69% $151,317,828.20
LYC Lynas Rare Earths 8.95 -5% -13% 27% 63% $8,500,716,838.68
EUR European Lithium Ltd 0.1 -9% -29% -26% 61% $145,205,931.78
GSR Greenstone Resources 0.032 -11% -11% 23% 60% $32,075,879.12
WC8 Wildcat Resources 0.039 11% 18% -24% 56% $22,584,545.45
GED Golden Deeps 0.017 -6% 70% 31% 55% $21,948,027.57
QPM Queensland Pacific 0.17 -11% -11% -28% 55% $270,044,797.93
S32 South32 Limited 4.46 -14% -13% 17% 54% $22,482,001,121.36
SRL Sunrise 3.32 4% 41% 62% 53% $299,892,737.07
JRL Jindalee Resources 4.38 -8% 46% 64% 51% $269,681,140.20
SCN Scorpion Minerals 0.075 -5% 21% 1% 50% $24,887,339.40
SYR Syrah Resources 1.65 5% 5% 52% 46% $1,157,597,533.06
RLC Reedy Lagoon Corp. 0.032 -3% 3% 0% 45% $19,192,503.05
POS Poseidon Nick Ltd 0.086 -3% -10% -14% 43% $275,756,357.34
ILU Iluka Resources 10.42 -16% -6% 9% 41% $4,747,205,841.93
HAS Hastings Tech Met 0.265 -4% 0% -5% 39% $557,959,946.23
TMT Technology Metals 0.48 5% 10% 25% 39% $102,782,404.89
BUX Buxton Resources Ltd 0.096 -9% -13% -9% 37% $14,437,080.31
IXR Ionic Rare Earths 0.067 -13% -11% 56% 34% $271,312,649.32
WCN White Cliff Min Ltd 0.028 -15% 12% 87% 33% $18,954,497.50
AAJ Aruma Resources Ltd 0.096 -31% -1% 0% 32% $18,050,572.85
MNS Magnis Energy Tech 0.455 -2% -13% 20% 30% $449,090,177.99
MNS Magnis Energy Tech 0.455 -2% -13% 20% 30% $449,090,177.99
MRD Mount Ridley Mines 0.009 -10% 0% 13% 29% $54,947,908.92
RGL Riversgold 0.065 -13% 20% 187% 28% $37,908,300.46
VRC Volt Resources Ltd 0.025 4% 39% -19% 25% $85,120,571.98
WML Woomera Mining Ltd 0.027 4% 42% 23% 24% $21,291,825.05
NTU Northern Min Ltd 0.05 -11% -2% -4% 22% $252,699,007.55
SRZ Stellar Resources 0.029 -3% 4% -15% 21% $24,281,776.15
KGD Kula Gold Limited 0.047 0% 0% -6% 21% $10,113,254.70
VUL Vulcan Energy 8.6 -5% -16% -39% 20% $1,170,324,850.10
MIN Mineral Resources. 54.67 -12% 12% 27% 19% $11,484,516,906.90
ATM Aneka Tambang 1.19 0% 8% 8% 19% $1,551,342.31
THR Thor Mining PLC 0.016 0% 23% -11% 14% $16,222,261.30
KFM Kingfisher Mining 0.28 -13% 12% 44% 14% $10,102,275.30
GW1 Greenwing Resources 0.455 6% 42% 54% 14% $57,508,780.76
BRB Breaker Res NL 0.26 -13% -2% -20% 11% $91,235,460.12
TLG Talga Group Ltd 1.49 -6% 3% -3% 9% $481,433,140.02
PLL Piedmont Lithium Inc 0.94 -2% -7% 18% 8% $517,019,384.00
LSR Lodestar Minerals 0.014 -13% 0% 40% 8% $26,076,560.22
AX8 Accelerate Resources 0.05 -24% -18% 16% 6% $12,419,486.05
AQD Ausquest Limited 0.021 -18% 0% 24% 5% $18,153,282.91
AZS Azure Minerals 0.335 -4% -7% -7% 5% $110,311,180.96
S2R S2 Resources 0.16 -6% -6% 82% 3% $57,019,976.80
VMC Venus Metals Cor Ltd 0.195 -3% 11% 5% 3% $30,215,736.60
RAS Ragusa Minerals Ltd 0.086 -4% 2% -18% 2% $10,806,573.38
VML Vital Metals Limited 0.063 -5% 15% 7% 2% $279,254,866.63
AXE Archer Materials 0.87 -4% -5% -43% 1% $220,601,814.23
CHN Chalice Mining Ltd 6.5 -11% -12% -1% 1% $2,510,015,961.18
LRV Larvotto Resources 0.455 69% 112% 0% 0% $20,809,787.50
NC1 Nicoresourceslimited 1.675 40% 51% 0% 0% $150,506,253.45
GT1 Greentechnology 1.155 20% 28% 0% 0% $116,600,000.00
WMG Western Mines 0.34 17% 45% 74% 0% $10,440,262.50
IG6 Internationalgraphit 0.42 12% 0% 0% 0% $36,669,648.60
EMS Eastern Metals 0.215 10% 10% -10% 0% $7,832,000.00
AM7 Arcadia Minerals 0.295 9% 13% 51% 0% $10,847,675.00
IMI Infinitymining 0.2 8% 18% 0% 0% $12,650,000.00
MTM Mtmongerresources 0.205 8% 11% 21% 0% $7,625,207.26
ADV Ardiden Ltd 0.015 7% 7% 36% 0% $38,690,862.66
LML Lincoln Minerals 0.008 0% 0% 0% 0% $4,599,869.49
GRE Greentechmetals 0.235 0% 12% 0% 0% $6,893,749.75
LPM Lithium Plus 0.7 0% 0% 0% 0% $11,154,550.00
LEL Lithenergy 0.99 -1% 7% 47% 0% $44,550,000.00
AR3 Austrare 0.7 -1% -7% -11% 0% $54,092,775.41
FRS Forrestaniaresources 0.34 -1% 0% -8% 0% $10,396,557.48
TMB Tambourahmetals 0.265 -2% 8% 26% 0% $11,122,001.46
CMX Chemxmaterials 0.245 -2% 14% 0% 0% $12,048,595.26
AS2 Askarimetalslimited 0.66 -4% 22% 230% 0% $28,369,890.27
PNT Panthermetalsltd 0.25 -4% 0% 0% 0% $6,860,000.00
WR1 Winsome Resources 0.475 -4% 4% 0% 0% $67,339,997.00
BMM Balkanminingandmin 0.355 -4% 4% -48% 0% $11,626,250.00
WIN Widgienickellimited 0.445 -4% -6% 98% 0% $125,000,000.00
MMC Mitremining 0.18 -5% 3% -20% 0% $5,010,743.50
A8G Australasian Metals 0.485 -6% 1% -14% 0% $20,286,099.47
NKL Nickelxltd 0.135 -7% -7% 0% 0% $7,472,250.00
CMO Cosmometalslimited 0.175 -8% 17% 0% 0% $4,719,350.00
CHR Charger Metals 0.695 -9% -7% 67% 0% $24,435,776.25
FG1 Flynngold 0.155 -9% 11% 3% 0% $9,929,462.75
GL1 Global Lithium Resources 2.02 -11% -10% 393% 0% $331,415,225.40
SBR Sabre Resources 0.006 -14% 0% 20% 0% $16,734,989.12
IPX Iperionx Limited 1.13 -14% -11% 14% 0% $175,881,498.66
CZN Corazon Ltd 0.033 0% 3% -4% -1% $20,140,908.38
QEM QEM Limited 0.23 -8% 21% 28% -2% $27,788,716.59
REE Rarex Limited 0.1025 -2% 7% 3% -2% $56,270,431.60
OZL OZ Minerals 23.64 -12% -12% -7% -3% $8,217,990,707.45
BSX Blackstone Ltd 0.355 -11% -12% -46% -3% $173,991,599.05
ASO Aston Minerals Ltd 0.15 -3% -6% 20% -3% $164,184,812.70
KAI Kairos Minerals Ltd 0.029 -6% 4% -3% -3% $58,862,804.73
BHP BHP Group Limited 45.66 -13% -8% 20% -4% $245,472,051,483.10
KZR Kalamazoo Resources 0.42 -1% 18% 11% -7% $68,241,355.78
AUZ Australian Mines Ltd 0.205 -9% 5% -21% -7% $92,526,904.86
BEM Blackearth Minerals 0.13 -4% 4% 4% -7% $35,145,008.86
EMH European Metals Hldg 1.26 -2% -1% -6% -9% $175,971,206.25
OMH OM Holdings Limited 0.87 -3% 4% -26% -9% $657,374,769.93
NIC Nickel Mines Limited 1.145 -9% -11% 8% -10% $3,108,434,259.69
AOA Ausmon Resorces 0.009 -18% 13% 29% -10% $8,572,893.43
INF Infinity Lithium 0.17 3% -3% -19% -11% $72,595,152.18
AZI Altamin Limited 0.086 -7% 16% 1% -11% $33,442,987.87
EGR Ecograf Limited 0.53 -7% -4% -17% -13% $249,935,069.75
AVW Avira Resources Ltd 0.006 0% 0% 0% -14% $12,712,740.00
TON Triton Min Ltd 0.034 6% 26% 6% -15% $42,254,662.02
ENT Enterprise Metals 0.021 -5% 56% 41% -15% $14,182,230.81
BOA Boadicea Resources 0.21 5% -2% 0% -15% $16,316,977.95
SLZ Sultan Resources Ltd 0.155 -3% 0% -21% -16% $12,909,080.30
NWM Norwest Minerals 0.056 -7% -10% -32% -17% $9,933,406.29
LIT Lithium Australia NL 0.1 -9% -13% -23% -17% $108,649,928.52
BYH Bryah Resources Ltd 0.063 13% 24% 21% -17% $12,893,808.98
GAL Galileo Mining Ltd 0.235 12% 15% -2% -18% $41,260,255.23
RAG Ragnar Metals Ltd 0.047 0% 52% 9% -18% $18,634,244.45
CWX Carawine Resources 0.21 0% -1% -2% -19% $27,566,869.40
MOH Moho Resources 0.06 9% 18% 0% -20% $8,328,236.42
TSC Twenty Seven Co. Ltd 0.004 0% 14% -33% -20% $10,643,255.62
PGM Platina Resources 0.052 -5% 4% -30% -21% $23,022,264.13
PEK Peak Rare Earths Ltd 0.705 -3% -11% -12% -23% $146,855,626.10
TNG TNG Limited 0.076 -16% 7% -39% -23% $118,015,548.87
SHH Shree Minerals Ltd 0.013 -19% -28% 18% -24% $18,333,553.38
RMX Red Mount Min Ltd 0.009 0% 0% -10% -25% $15,602,456.65
WKT Walkabout Resources 0.235 -4% 2% 21% -25% $113,068,778.00
ARN Aldoro Resources 0.28 0% -13% -37% -26% $29,764,076.70
CML Chase Mining Limited 0.014 -7% 8% -22% -26% $7,490,124.18
JMS Jupiter Mines. 0.23 -8% -12% -2% -28% $489,747,758.25
SRI Sipa Resources Ltd 0.049 -8% -9% -11% -29% $10,046,215.35
G88 Golden Mile Res Ltd 0.066 0% 3% 32% -30% $13,449,085.14
G88 Golden Mile Res Ltd 0.066 0% 3% 32% -30% $13,449,085.14
ADD Adavale Resource Ltd 0.04 -22% -2% -32% -30% $14,897,007.17
RXL Rox Resources 0.385 -16% -4% 1% -31% $69,265,788.27
LEG Legend Mining 0.089 13% 31% 22% -32% $247,962,214.89
IPT Impact Minerals 0.013 -7% 0% -7% -32% $32,856,923.79
EMN Euromanganese 0.395 -1% -14% -27% -32% $110,664,041.91
AML Aeon Metals Ltd. 0.055 -23% -4% 2% -33% $50,216,915.50
TKL Traka Resources 0.01 0% -9% -29% -38% $7,232,132.89
CZL Cons Zinc Ltd 0.03 0% 3% -41% -39% $10,540,734.39
ENV Enova Mining Limited 0.02 0% 11% -20% -39% $6,773,176.88
GSM Golden State Mining 0.078 -14% -7% -26% -40% $8,720,430.77
AOU Auroch Minerals Ltd 0.125 -4% 9% -34% -40% $50,582,251.86
1MC Morella Corporation 0.036 6% 6% -43% -43% $196,696,131.47
FGR First Graphene Ltd 0.155 -6% -9% -26% -44% $89,586,204.16
NWC New World Resources 0.055 -13% 0% -30% -44% $89,426,558.03
CLA Celsius Resource Ltd 0.022 -12% -27% -24% -45% $30,536,644.20
MRC Mineral Commodities 0.13 24% 18% -13% -45% $66,873,829.25
FRB Firebird Metals 0.31 -7% -9% -35% -46% $17,845,854.72
DTM Dart Mining NL 0.076 -7% -12% -34% -48% $9,461,310.68
NVA Nova Minerals Ltd 0.745 -14% 5% -52% -50% $136,953,736.60
SGQ St George Min Ltd 0.045 -4% -10% -36% -51% $32,720,067.74
PRL Province Resources 0.096 3% -9% -38% -53% $111,183,341.86
RFR Rafaella Resources 0.048 7% 0% -39% -54% $10,007,658.72
E25 Element 25 Ltd 0.88 -4% -16% -53% -56% $143,547,746.86
ESR Estrella Res Ltd 0.022 -12% -24% -39% -58% $27,615,675.42
CNJ Conico Ltd 0.012 -7% -27% -68% -58% $14,953,212.37
EMT Emetals Limited 0.014 0% -7% -7% -59% $12,750,000.00
HXG Hexagon Energy 0.044 -5% -17% -49% -60% $19,642,446.25
PUR Pursuit Minerals 0.029 0% 38% -16% -62% $28,366,475.82
MAN Mandrake Res Ltd 0.059 -2% -9% -6% -64% $30,589,026.99
AKN Auking Mining Ltd 0.14 -12% -22% -40% -65% $10,318,280.48