• High prices for raw materials like lithium and nickel add ~$US12,600 to cost of Silverado EV
  • Carmakers, battery makers increasingly investing in cheaper, better solid-state tech
  • This week’s biggest ASX movers: Galileo, Conico, Greenstone

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

 

Wells Fargo analyst Colin Langan has slashed price targets for both Ford and GM – two of the world’s biggest carmakers – by over 50%, citing high EV production costs and tight raw materials supply.

Escalating prices for raw materials like lithium and nickel adds ~$US12,600 “in unplanned costs” to GM’s Silverado EV alone, the analyst said.

“Given that auto manufacturers only make a few thousand dollars per car traditionally, I’d say the lack of foresight on securing battery metals supply is going to lead to some big problems with both output targets and profit guidance…,” muses Rhett Bennet, CEO at Texas based Black Mountain Metals in a LinkedIn post.

 

High prices spark scramble to solid state

It goes some way to explaining why carmakers are more eager than ever to develop EV models with solid state lithium-ion batteries.

Compared to the incumbent liquid electrolyte technology, solid state offers:

  • longer driving range ✅
  • lower raw material costs (reduced/ no nickel and cobalt) ✅
  • higher energy density ✅
  • increased safety (non-flammable) ✅
  • and faster charging ✅

Almost sounds too good to be true.

In March, South Korea’s Samsung SDI announced it has started construction of a pilot facility to verify its production tech.

“The site is expected to start production in early 2023 and the company said last week that it plans to accelerate its commercial-scale production, which it previously said would begin in 2027,” Argus says.

In early April, Japanese carmaker Nissan unveiled its prototype production facility for solid-state cells, which it aims to launch commercially in 2028.

This week, China’s Linghang Guochuang said it is moving ahead with a partnership with US-based carmaker Mullen.

“Data collected from solid-state cell testing show impressive results for solid-state batteries, including potential range of 600 miles on a full charge and over 300 miles of range delivered in 18 minutes with DC fast charging,” the companies said.

Then there’s behemothic South Korean conglomerate POSCO, which expects to complete construction on a solid electrolyte material plant with a capacity of 24t per year in H2 2022.

It also invested an undisclosed sum in ProLogium, a Taiwanese solid-state battery start-up with ties to Mercedes Benz.

Mercedes plans to use ProLogium’s solid-state battery cells in its passenger vehicles “in the second half of the decade”, Argus says.

 

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 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
GAL Galileo Mining 303% 283% 303% 210% 0.805 $143,989,870.28
CNJ Conico 73% 48% -38% -38% 0.019 $24,155,189.21
GSR Greenstone Resources 38% 11% 54% 82% 0.04 $39,407,508.63
FRB Firebird Metals 27% -1% -26% -34% 0.33 $17,320,976.64
VRC Volt Resources 25% -17% -23% -43% 0.02 $59,899,661.76
PGD Peregrine Gold 24% 14% 33% 58% 0.545 $17,037,567.71
COB Cobalt Blue 22% -5% 119% 165% 0.875 $266,053,343.51
GED Golden Deeps 21% -6% 31% 70% 0.017 $16,172,230.84
RNU Renascor Res 17% -23% 92% 248% 0.24 $484,148,184.75
ASO Aston Minerals 16% -6% 21% -9% 0.145 $147,766,331.43
MRD Mount Ridley Mines 14% -20% 14% 33% 0.008 $46,797,560.75
ESS Essential Metals 13% 0% 144% 504% 0.55 $124,135,431.68
CMO Cosmometalslimited 13% -8% 0% 0% 0.175 $3,571,400.00
CZN Corazon 13% -18% -23% -14% 0.027 $16,478,925.04
RMX Red Mount Min 13% 0% -18% -10% 0.009 $13,138,910.86
G88 Golden Mile Res 13% -18% 8% -16% 0.054 $11,205,293.77
WC8 Wildcat Resources 13% 3% -27% 16% 0.036 $21,293,999.99
CXO Core Lithium 10% -8% 126% 450% 1.265 $2,034,487,545.50
QPM Queensland Pacific 10% -16% -30% 52% 0.16 $223,751,404.00
GME GME Resources 10% -15% 75% 94% 0.11 $71,278,891.44
BNR Bulletin Res 10% -25% 104% 151% 0.165 $49,315,338.59
LYC Lynas Rare Earths 10% 0% 17% 72% 9.37 $7,977,318,137.36
SCN Scorpion Minerals 10% 14% 34% 73% 0.09 $28,869,313.70
CMX Chemxmaterials 10% -8% 0% 0% 0.23 $10,194,965.22
VMC Venus Metals Cor 9% -8% -12% 6% 0.185 $27,949,556.36
MAN Mandrake Res 9% -17% -22% -70% 0.05 $25,161,941.55
ADV Ardiden 8% -7% 0% 30% 0.013 $34,688,359.63
THR Thor Mining PLC 8% -19% -13% -28% 0.013 $13,224,267.70
AX8 Accelerate Resources 8% -39% -17% -13% 0.04 $10,274,897.06
MIN Mineral Resources. 8% -6% 42% 30% 58.03 $10,409,853,710.34
CRR Critical Resources 8% -1% 64% 486% 0.082 $108,595,744.62
FGR First Graphene 8% -15% -33% -40% 0.14 $75,604,559.76
RAG Ragnar Metals 8% -9% -9% -25% 0.043 $13,789,340.89
EMN Euromanganese 7% -17% -44% -32% 0.3325 $83,566,514.53
LRS Latin Resources 7% -44% 145% 88% 0.1125 $201,703,606.02
KFM Kingfisher Mining 7% -30% 22% 2% 0.225 $8,390,025.25
AVL Aust Vanadium 7% -20% 109% 169% 0.0565 $187,478,770.32
AKE Allkem Limited 6% -11% 28% 93% 12.04 $7,288,431,922.98
PLS Pilbara Min 6% -8% 13% 148% 2.72 $7,739,768,901.80
MRR Minrex Resources 6% -24% 155% 143% 0.056 $52,453,206.47
MNS Magnis Energy Tech 5% -13% -40% 37% 0.405 $381,761,704.96
MCR Mincor Resources NL 5% -11% 75% 131% 2.28 $1,065,607,613.40
IPT Impact Minerals 5% -23% -32% -32% 0.0105 $22,999,846.65
JRV Jervois Global 5% -13% 53% 100% 0.84 $1,253,794,542.83
VR8 Vanadium Resources 5% 5% 41% 112% 0.11 $49,676,799.27
ASN Anson Resources 5% -21% -30% 121% 0.115 $113,070,356.85
ARU Arafura Resource 4% -10% 34% 115% 0.355 $519,389,806.22
SYR Syrah Resources 4% 13% 42% 85% 1.78 $1,131,170,272.18
RLC Reedy Lagoon Corp. 4% -18% -40% 35% 0.027 $13,708,930.75
CAE Cannindah Resources 4% -29% -10% 366% 0.275 $154,785,201.46
MMC Mitremining 4% -24% -31% 0% 0.145 $3,927,339.50
FG1 Flynngold 3% -12% -6% 0% 0.15 $8,648,241.75
MLS Metals Australia 3% -48% 128% 128% 0.091 $38,440,265.14
BSX Blackstone 3% -24% -50% -13% 0.305 $136,371,793.85
POS Poseidon Nick 3% -25% -29% 6% 0.067 $199,157,369.19
KGD Kula Gold Limited 3% -23% -27% -10% 0.036 $7,746,322.75
NMT Neometals 3% -24% 21% 199% 1.335 $745,791,898.56
KOB Kobaresourceslimited 3% 0% 0% 0% 0.195 $13,000,000.00
SGQ St George Min 3% -13% -36% -49% 0.041 $27,846,866.16
NTU Northern Min 2% -25% -36% 14% 0.042 $199,243,448.26
JMS Jupiter Mines. 2% -12% 0% -24% 0.22 $421,183,072.10
VUL Vulcan Energy 2% -20% -32% 11% 7.25 $946,528,197.10
RBX Resource B 2% -6% 31% 576% 0.23 $9,767,423.76
AZI Altamin Limited 2% 7% 27% 10% 0.098 $37,996,524.94
VML Vital Metals Limited 2% -23% -20% -6% 0.051 $212,694,637.28
KAI Kairos Minerals 2% -15% -15% -12% 0.0265 $52,976,524.26
1MC Morella Corporation 2% -19% -56% -56% 0.0275 $134,581,563.64
STM Sunstone Metals 2% -19% -10% 235% 0.057 $151,892,338.66
CTM Centaurus Metals 2% -23% 9% 67% 1.17 $461,274,774.84
PVW PVW Res 2% -25% -30% 117% 0.315 $28,848,014.91
IG6 Internationalgraphit 2% -16% 0% 0% 0.315 $24,853,872.94
LEG Legend Mining 2% -15% 22% -42% 0.067 $198,369,771.91
RXL Rox Resources 1% -26% -14% -31% 0.34 $54,905,807.78
RAS Ragusa Minerals 1% -17% -22% -4% 0.075 $9,424,337.25
AGY Argosy Minerals 1% -20% 28% 333% 0.39 $508,033,808.25
GBR Greatbould Resources 1% -21% -28% 7% 0.097 $39,234,112.09
HAS Hastings Tech Met 1% -10% 1% 38% 0.2475 $476,802,135.87
LTR Liontown Resources 1% -23% -18% 234% 1.2725 $2,729,320,371.51
INR Ioneer 1% -25% -25% 49% 0.53 $1,014,280,218.70
GL1 Globallith 1% -25% 175% 454% 1.69 $257,893,341.62
OMH OM Holdings Limited 1% -4% -12% -2% 0.86 $624,136,719.77
PSC Prospect Res 0% 9% 69% 492% 0.9475 $412,653,804.89
VIA Viagold Rare Earth 0% 0% 0% 2339% 2 $166,624,808.00
NWC New World Resources 0% -19% -35% -45% 0.046 $73,457,529.81
QXR Qx Resources Limited 0% -36% 69% 206% 0.049 $42,108,753.73
HNR Hannans 0% -21% -43% 276% 0.026 $62,550,515.42
LKE Lake Resources 0% -27% 54% 496% 1.46 $1,913,089,726.52
DEV Devex Resources 0% -25% -29% 27% 0.375 $122,531,747.91
AVZ AVZ Minerals 0% -34% 38% 438% 0.78 $2,752,409,203.44
STK Strickland Metals 0% 14% 7% 204% 0.073 $96,062,962.50
CLA Celsius Resource 0% -20% -29% -57% 0.02 $24,429,315.36
ESR Estrella Res 0% -24% -47% -61% 0.019 $24,013,630.80
BEM Blackearth Minerals 0% -22% -9% -11% 0.105 $26,493,929.76
TKL Traka Resources 0% -10% -36% -44% 0.009 $6,198,971.05
SYA Sayona Mining 0% -22% 71% 730% 0.265 $1,831,600,623.98
ATM Aneka Tambang 0% 5% 21% 25% 1.25 $1,629,561.25
ALY Alchemy Resource 0% 22% 83% 41% 0.022 $19,061,481.14
LML Lincoln Minerals 0% 0% 0% 0% 0.008 $4,599,869.49
BYH Bryah Resources 0% -16% -18% -36% 0.047 $10,179,322.88
GSM Golden State Mining 0% -29% -37% -46% 0.065 $6,747,952.38
TSC Twenty Seven Co. 0% 0% -20% -20% 0.004 $9,312,848.67
WML Woomera Mining 0% -19% 5% -15% 0.021 $13,736,661.32
ENT Enterprise Metals 0% -36% 1% -41% 0.014 $9,025,055.97
AOA Ausmon Resorces 0% -27% 14% 33% 0.008 $6,858,314.74
RR1 Reach Resources 0% -25% -40% 64% 0.006 $11,460,303.83
AVW Avira Resources 0% -17% -29% -17% 0.005 $10,593,950.00
SRZ Stellar Resources 0% -23% -4% 5% 0.023 $19,303,960.40
CZL Cons Zinc 0% -20% -38% -41% 0.024 $9,135,303.14
LPM Lithium Plus 0% 0% 0% 0% 0.625 $28,555,648.00
ODE Odessa Minerals 0% -16% 220% 220% 0.016 $9,668,719.94
NIC Nickel Mines Limited -1% -6% 8% 17% 1.18 $3,168,277,256.52
PRL Province Resources -1% -5% -51% -52% 0.088 $101,918,063.37
BUX Buxton Resources -1% -18% -4% 5% 0.086 $12,687,131.18
LMG Latrobe Magnesium -1% -18% -47% 311% 0.074 $112,258,408.57
AXE Archer Materials -1% -23% -53% -5% 0.7 $169,789,036.80
TNG TNG Limited -1% -23% -20% -22% 0.069 $97,189,275.54
TEM Tempest Minerals -1% -34% 120% 221% 0.066 $31,279,465.56
JRL Jindalee Resources -2% -21% 41% 57% 3.75 $212,302,174.20
DTM Dart Mining NL -2% -27% -43% -57% 0.06 $7,469,455.80
BHP BHP Group Limited -2% -13% 25% -8% 45.45 $229,373,863,738.90
AZL Arizona Lithium -2% -16% 24% 375% 0.1425 $312,580,689.68
LRV Larvottoresources -2% 4% 0% 0% 0.28 $12,362,250.00
LPD Lepidico -2% -29% -41% 83% 0.0275 $173,059,644.56
PNN PepinNini Minerals -2% -35% -16% 116% 0.55 $32,564,410.52
AS2 Askarimetalslimited -2% -28% 161% 0% 0.495 $20,374,003.51
BRB Breaker Res NL -2% -25% -42% 25% 0.225 $71,685,004.38
PAM Pan Asia Metals -2% -20% -11% 267% 0.44 $32,041,510.14
WR1 Winsome Resources -2% -19% 0% 0% 0.4 $51,980,387.69
AML Aeon Metals . -3% -46% -21% -42% 0.038 $34,882,078.86
IMI Infinitymining -3% -5% 0% 0% 0.175 $9,487,500.00
CAI Calidus Resources -3% -17% 33% 121% 0.85 $327,872,061.52
E25 Element 25 -3% -28% -49% -66% 0.665 $95,443,980.63
NKL Nickelx -3% 10% 33% 7% 0.16 $10,246,500.00
EMS Eastern Metals -3% -18% -36% 0% 0.16 $5,696,000.00
NVA Nova Minerals -3% -30% -58% -56% 0.61 $109,923,393.85
S2R S2 Resources -3% -12% -25% -12% 0.15 $53,456,228.25
S32 South32 Limited -3% -13% 30% 53% 4.48 $20,434,891,338.40
HXG Hexagon Energy -3% -40% -73% -70% 0.028 $13,848,729.33
INF Infinity Lithium -4% -18% -37% -29% 0.135 $56,001,974.54
TON Triton Min -4% -16% -36% -31% 0.027 $35,245,956.96
FFX Firefinch -4% -19% 33% 112% 0.91 $1,021,775,386.17
CHR Charger Metals -4% -21% 30% 0% 0.6 $18,897,000.30
ZNC Zenith Minerals -4% -11% 54% 34% 0.355 $125,525,016.58
GT1 Greentechnology -4% -15% 113% 0% 0.82 $107,623,280.00
MQR Marquee Resource -4% -26% -34% 48% 0.092 $29,616,106.08
REE Rarex Limited -4% -24% -19% -8% 0.0795 $44,453,640.96
IPX Iperionx Limited -4% -33% -8% -12% 0.885 $126,961,084.36
TMB Tambourahmetals -4% -19% -27% 0% 0.22 $8,444,482.59
LIT Lithium Australia -4% -21% -36% -24% 0.087 $90,058,504.49
WKT Walkabout Resources -4% -12% 10% 16% 0.215 $101,761,900.20
AM7 Arcadia Minerals -4% -20% -12% 0% 0.215 $7,348,425.00
SHH Shree Minerals -5% -34% -5% -30% 0.0105 $12,222,368.92
KTA Krakatoa Resources -5% -32% 44% 28% 0.082 $28,266,213.19
SRI Sipa Resources -5% -25% -27% -37% 0.04 $7,995,967.32
TLG Talga Group -5% -16% -35% -7% 1.33 $396,466,874.70
OZL OZ Minerals -5% -19% -14% -13% 21.82 $7,183,628,536.94
ENV Enova Mining Limited -5% -10% -14% -14% 0.018 $6,095,859.19
WIN Widgienickellimited -5% -23% 64% 0% 0.36 $91,323,000.00
ARR American Rare Earths -5% -20% 94% 393% 0.35 $132,510,903.56
ILU Iluka Resources -5% -20% 13% 19% 9.94 $4,212,667,918.71
AZS Azure Minerals -6% -27% -37% -9% 0.255 $77,683,930.25
ADD Adavale Resource -6% -35% -35% -49% 0.033 $12,059,482.00
EGR Ecograf Limited -6% -29% -40% -34% 0.405 $186,888,385.49
KZR Kalamazoo Resources -6% -25% -17% -22% 0.32 $48,640,115.29
ARN Aldoro Resources -6% -16% -54% -29% 0.235 $21,826,989.58
EUR European Lithium -6% -29% -48% 44% 0.078 $105,101,436.34
LPI Lithium Pwr Int -6% -31% 19% 146% 0.5775 $199,012,563.36
AOU Auroch Minerals -6% -29% -34% -58% 0.092 $32,878,463.71
MTM Mtmongerresources -6% -21% -3% 0% 0.15 $5,801,605.28
PAN Panoramic Resources -6% -27% 7% 68% 0.2525 $543,492,211.06
IGO IGO Limited -7% -22% 11% 49% 10.93 $8,042,184,174.06
SLZ Sultan Resources -7% -13% -18% -50% 0.14 $11,659,814.46
LOT Lotus Resources -7% -30% -18% 57% 0.275 $259,392,735.42
EMH European Metals Hldg -7% -22% -30% -20% 1 $139,369,195.35
FNT Frontier Resources -7% -28% -16% 79% 0.026 $20,945,639.25
ARL Ardea Resources -7% -42% 134% 140% 1.09 $178,224,660.60
PNT Panthermetals -7% -27% 0% 0% 0.19 $6,300,000.00
PGM Platina Resources -8% -33% -46% -37% 0.037 $16,072,146.65
EFE Eastern Resources -8% -28% -54% 200% 0.036 $35,799,718.72
EMT Emetals Limited -8% -14% -20% -59% 0.012 $10,200,000.00
TMT Technology Metals -8% -23% -5% 1% 0.35 $76,123,629.49
GRE Greentechmetals -8% -28% 0% 0% 0.17 $5,473,999.83
AAJ Aruma Resources -8% -45% -6% 18% 0.077 $12,086,035.73
KOR Korab Resources -8% -18% -60% 154% 0.033 $11,562,075.00
GLN Galan Lithium -8% -29% -11% 104% 1.42 $421,593,116.37
IXR Ionic Rare Earths -8% -30% 23% 100% 0.054 $212,993,270.60
RFR Rafaella Resources -9% -9% -49% -61% 0.041 $8,986,363.28
LSR Lodestar Minerals -9% -38% 0% -23% 0.01 $17,384,373.48
SRL Sunrise -9% -11% 47% 21% 2.83 $247,659,167.25
AQD Ausquest Limited -10% -25% 0% 6% 0.019 $16,502,984.46
PUR Pursuit Minerals -10% -34% -49% -69% 0.019 $18,910,983.88
AR3 Austrare -10% -35% -48% 0% 0.465 $34,910,940.16
SBR Sabre Resources -10% -36% -25% -10% 0.0045 $13,945,824.27
WMG Western Mines -10% -26% 13% 0% 0.215 $8,608,637.50
PLL Piedmont Lithium Inc -11% -22% -12% 6% 0.745 $393,040,246.00
CNB Carnaby Resource -12% -16% 276% 166% 1.09 $157,171,102.04
AKN Auking Mining -12% -31% -38% -72% 0.11 $10,348,041.21
CHN Chalice Mining -12% -23% -43% -23% 5.61 $1,931,327,698.56
RGL Riversgold -12% -43% 116% 3% 0.043 $23,429,289.85
MRC Mineral Commodities -13% 0% -13% -52% 0.105 $53,499,063.40
BKT Black Rock Mining -13% -21% -7% 21% 0.205 $195,438,406.40
NC1 Nicoresourceslimited -13% -21% 0% 0% 0.945 $78,088,751.79
WCN White Cliff Min -13% -39% 54% 25% 0.02 $13,072,067.24
BOA Boadicea Resources -13% -18% -13% -53% 0.165 $12,431,983.20
MOH Moho Resources -13% -29% -36% -47% 0.039 $5,075,019.07
LEL Lithenergy -13% 17% 23% 0% 1.165 $52,374,000.00
EVR Ev Resources -14% -39% -17% 36% 0.038 $36,113,378.77
NWM Norwest Minerals -14% -28% -42% -52% 0.043 $7,585,510.25
A8G Australasian Metals -14% -29% -47% 109% 0.365 $14,821,377.84
MLX Metals X Limited -14% -27% 28% 127% 0.51 $467,242,024.51
CML Chase Mining Limited -15% -27% -31% -39% 0.011 $5,149,460.37
AUZ Australian Mines -16% -40% -41% -29% 0.135 $60,250,077.58
FTL Firetail Resources -16% -25% 0% 0% 0.305 $18,843,662.50
QEM QEM Limited -17% -20% -20% 0% 0.2 $23,717,881.59
CWX Carawine Resources -18% -33% -32% -49% 0.14 $19,985,980.32
GW1 Greenwing Resources -18% -28% -40% 3% 0.31 $38,822,914.94
PEK Peak Rare Earths -22% -34% -30% -50% 0.485 $103,674,268.50
FRS Forrestaniaresources -22% -35% -45% 0% 0.225 $6,322,230.90
BMM Balkanminingandmin -23% -28% -49% 0% 0.265 $9,333,750.00

 

WEEKLY SMALL CAP STANDOUTS

A +300% weekly gain for Galileo Mining (ASX:GAL) after announcing a major palladium-platinum-nickel discovery at the ‘Norseman’ project in WA.

The discovery hole at the ‘Callisto’ prospect returned a 33m-long intersection grading 2g/t 3E (1.64g/t palladium, 0.28g/t platinum, 0.09g/t gold), 0.32% copper & 0.30% nickel from 144m.

This 33m assayed intersection occurs within a wider 55m disseminated sulphide zone (126–181m) “indicating the potential for a large mineralised system”, GAL says.

Assays from a further five drill holes are pending, but GAL has already flagged strong geological continuity “with all drill holes intersecting disseminated sulphides”.

Special mention goes to the Mt Thirsty Joint Venture (50% Conico (ASX:CNJ); 50% Greenstone Resources (ASX:GSR), which is right next door.

“… prospective horizons from GAL appear to trend on to ground held by the Mt Thirsty Joint Venture,” director and shareholder of CNJ Guy Le Page says.

“It appears around 1.5km of this layered intrusion (Mission Sill) appear to strike on to the JV ground (figure 8) and remain largely untested.”