• Investment banks have turned bullish again on the lithium sector, making sold down stocks look attractive
  • Canaccord’s best lithium stock IN THE WORLD (for upside) is Cleantech Lithium (AIM:CTL)
  • ASX small caps of the week: Westar, Wildcat

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

 

Several investment banks have recently turned bullish again on the lithium sector, with updated price forecasts resulting in increased target prices across the entire lithium industry.

This has made sold down stocks look more attractive.

“The confluence of battery restocking, the rapid growth of energy storage systems and electric vehicle sales, alongside increased M&A activity, serves as the key catalysts that will propel lithium prices and drive the overall market to unprecedented levels,” writes Swiss fund manager Thematica Funds.

“These powerful forces are set to shape the future of the lithium industry, creating a compelling landscape for investors and stakeholders alike,” it says.

“The recent pullback in lithium prices represents an excellent chance to re-engage in the lithium sector and capitalize on its potential once again.

“If you haven’t been paying attention to the lithium market, consider this a clear indication to start taking notice and delve into its potential.”

Renowned lithium experts at Canaccord Genuity recently raised target prices for more than 20 lithium companies within their coverage.

We covered the ASX stocks with most upside here, but here is Canaccord’s best lithium stock IN THE WORLD (for upside).

 

CLEANTECH LITHIUM (AIM:CTL)

Price target: $295

Upside: 666%

No#1 on Canaccord’s ‘Lithium Stocks with Most Upside’ list with a price target of $295.

CTL has as three lithium projects – Laguna Verde, Francisco Basin and Llamara – in Chile’s portion of the lithium triangle.

It currently has over 2 million tonnes of LCE JORC compliant resources which are being upgraded with three further drilling campaigns underway.

Meanwhile, its direct lithium extraction (DLE) work has produced 1kg battery grade lithium carbonate, with a larger pilot plant due for commissioning Q3 this year.

CTL is well down on February highs of GBP87, maybe thanks to Chile’s recently announced National Lithium Strategy whereby the government ostensibly plans to assume control of producing lithium assets.

CTL says it will be okay, though.

“The focus of ‘majority state control’ is for assets considered to be of strategic importance to the country and therefore it is understood to relate primarily to the Atacama and Maricunga salars, due to their lithium reserves, size and very high levels of lithium concentration,” it reported April 24.

“By comparison, CTL’s assets are considerably smaller when compared to Salar de Atacama which has approximately 37% of the world’s lithium reserves.

“CTL´s assets have lower levels of lithium concentration and, while highly economic for a company such as CTL, they are not of the scale that could be considered assets of national strategic importance.”

 

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].

CODE COMPANY 1WEEK RETURN % YEAR TO DATE RETURN % 12 MONTH RETURN % PRICE MARKET CAP
WC8 Wildcat Resources 73% 188% 103% 0.069 $51,637,774
WSR Westar Resources 48% 54% 3% 0.077 $5,559,712
SLZ Sultan Resources Ltd 46% -36% -65% 0.054 $4,854,367
RBX Resource B 38% 94% -13% 0.165 $11,851,174
BMM Balkanminingandmin 28% -23% -6% 0.255 $11,943,005
CLA Celsius Resource Ltd 25% 56% 25% 0.025 $53,065,241
KGD Kula Gold Limited 25% -40% -52% 0.015 $5,598,180
PNN Power Minerals Ltd 24% -3% -10% 0.515 $38,337,171
CZN Corazon Ltd 24% 0% -30% 0.021 $12,816,943
DLI Delta Lithium 22% 44% 23% 0.685 $299,862,348
PMT Patriotbatterymetals 21% 151% 0% 1.88 $534,328,891
DEV Devex Resources Ltd 21% 34% 0% 0.375 $135,334,181
SUM Summitminerals 21% 21% 0% 0.175 $3,956,409
BUR Burleyminerals 20% 34% 168% 0.295 $18,117,235
GT1 Greentechnology 20% -8% -11% 0.755 $136,377,952
ASM Ausstratmaterials 19% -16% -78% 1.21 $197,545,695
LEG Legend Mining 18% 33% -26% 0.053 $147,975,337
LPM Lithium Plus 17% 0% -41% 0.37 $20,100,840
BCA Black Canyon Limited 17% 0% -21% 0.24 $12,928,953
GW1 Greenwing Resources 16% -9% -24% 0.25 $39,726,091
WA1 Wa1Resourcesltd 15% 197% 2028% 4.15 $158,075,542
AX8 Accelerate Resources 15% 0% -38% 0.023 $6,796,833
LLL Leolithiumlimited 14% 56% 0% 0.755 $744,925,970
QXR Qx Resources Limited 14% -5% -17% 0.04 $32,287,045
SBR Sabre Resources 14% -34% -50% 0.025 $6,995,669
QPM Queensland Pacific 14% 14% -26% 0.125 $218,293,491
M2R Miramar 14% -38% -60% 0.05 $4,019,088
BM8 Battery Age Minerals 14% -25% -25% 0.375 $27,460,721
RAG Ragnar Metals Ltd 13% 50% -58% 0.018 $6,066,959
EMT Emetals Limited 13% -10% -28% 0.009 $7,650,001
THR Thor Energy PLC 13% -25% -65% 0.0045 $7,368,065
OM1 Omnia Metals Group 12% 75% 87% 0.28 $12,759,859
EMH European Metals Hldg 12% -5% -38% 0.61 $79,980,766
GSR Greenstone Resources 11% -38% -56% 0.02 $23,052,101
ODE Odessa Minerals Ltd 11% -33% -41% 0.01 $6,011,678
VMS Venture Minerals 11% -13% -57% 0.02 $35,389,153
IDA Indiana Resources 11% -9% -11% 0.05 $25,310,242
DRE Dreadnought Resources Ltd 11% -43% 50% 0.06 $208,701,879
WMG Western Mines 11% 419% 277% 0.83 $42,898,825
ITM Itech Minerals Ltd 11% -2% -50% 0.26 $28,648,724
VR8 Vanadium Resources 10% 48% -15% 0.085 $41,175,053
HNR Hannans Ltd 10% -42% -58% 0.011 $29,970,654
RNU Renascor Res Ltd 10% 2% -10% 0.22 $545,972,613
LSR Lodestar Minerals 10% 10% -45% 0.0055 $10,138,686
WR1 Winsome Resources 9% 63% 355% 2 $313,064,369
FTL Firetail Resources 9% -45% -73% 0.088 $6,545,001
AKN Auking Mining Ltd 9% -34% -43% 0.063 $11,381,454
MLS Metals Australia 8% -12% -63% 0.039 $27,923,666
ADV Ardiden Ltd 8% 0% -42% 0.007 $18,818,348
WML Woomera Mining Ltd 8% -26% -33% 0.014 $13,386,258
PEK Peak Rare Earths Ltd 8% 26% 23% 0.565 $133,204,766
EMN Euromanganese 8% -39% -33% 0.215 $54,940,607
DTM Dart Mining NL 7% 5% -21% 0.058 $9,992,660
CRR Critical Resources 7% 5% -47% 0.045 $74,953,480
M24 Mamba Exploration 7% -28% -5% 0.105 $6,403,251
GSM Golden State Mining 7% -26% -54% 0.032 $3,744,456
ALY Alchemy Resource Ltd 6% -26% -39% 0.017 $20,027,297
TEM Tempest Minerals 6% -26% -73% 0.017 $8,109,147
AR3 Austrare 6% -14% -22% 0.345 $39,261,884
AQD Ausquest Limited 6% 6% -10% 0.018 $14,027,538
OD6 Od6Metalsltd 6% -19% 0% 0.27 $14,028,952
REE Rarex Limited 6% -15% -43% 0.046 $30,072,397
ADD Adavale Resource Ltd 6% 0% -39% 0.019 $9,870,997
CAI Calidus Resources 6% -30% -78% 0.19 $98,886,208
SRL Sunrise 5% -39% -62% 1.17 $104,467,141
CWX Carawine Resources 5% 0% -29% 0.1 $19,681,748
KAI Kairos Minerals Ltd 5% -13% -26% 0.02 $39,281,871
HAS Hastings Tech Met 5% -40% -59% 2.12 $293,458,001
CY5 Cygnus Metals Ltd 5% -39% 44% 0.23 $50,323,068
AZS Azure Minerals 4% 118% 69% 0.49 $187,313,316
AAJ Aruma Resources Ltd 4% 40% -9% 0.074 $11,615,152
LEL Lithenergy 4% 29% -20% 0.99 $95,010,001
JRV Jervois Global Ltd 4% -64% -89% 0.1 $197,582,907
CMX Chemxmaterials 4% -32% -44% 0.125 $6,332,642
BKT Black Rock Mining 4% -4% -35% 0.13 $133,116,632
DM1 Desert Metals 4% -55% -71% 0.088 $5,948,369
NWM Norwest Minerals 3% -44% -35% 0.03 $7,915,880
EVR Ev Resources Ltd 3% 14% -64% 0.016 $14,975,746
E25 Element 25 Ltd 3% -24% -4% 0.67 $125,703,844
BUX Buxton Resources Ltd 3% 48% 85% 0.17 $29,117,358
MEK Meeka Metals Limited 3% -50% -40% 0.034 $35,231,096
LRS Latin Resources Ltd 3% 84% 29% 0.18 $470,051,994
POS Poseidon Nick Ltd 3% -8% -47% 0.037 $122,545,113
DVP Develop Global Ltd 3% 5% 36% 3.35 $606,712,240
MAN Mandrake Res Ltd 2% 8% -16% 0.043 $29,339,237
JMS Jupiter Mines. 2% -2% 0% 0.215 $411,388,118
ETM Energy Transition 2% -26% -29% 0.046 $58,296,994
WIN Widgienickellimited 2% -20% -30% 0.265 $65,354,336
AKE Allkem Limited 2% 35% 16% 15.12 $9,564,871,291
ILU Iluka Resources 2% 19% 11% 11.35 $4,809,684,581
OCN Oceanalithiumlimited 2% -10% 0% 0.31 $12,144,716
ATM Aneka Tambang 1% 28% -8% 1.15 $1,499,197
PLS Pilbara Min Ltd 1% 27% 67% 4.77 $14,421,256,369
PLL Piedmont Lithium Inc 1% 35% 2% 0.87 $380,845,521
LYC Lynas Rare Earths 0% -6% -24% 7.34 $6,826,191,138
IGO IGO Limited 0% 9% 26% 14.73 $11,268,145,058
MIN Mineral Resources. 0% -4% 24% 74.03 $14,487,352,717
PAM Pan Asia Metals 0% -37% -47% 0.26 $40,369,240
NWC New World Resources 0% 9% -14% 0.037 $74,744,969
CAE Cannindah Resources 0% -29% -35% 0.17 $95,536,593
MRD Mount Ridley Mines 0% -40% -63% 0.003 $23,354,650
AVZ AVZ Minerals Ltd 0% 0% 0% 0.78 $2,752,409,204
GBR Greatbould Resources 0% -13% -21% 0.079 $42,861,846
HXG Hexagon Energy 0% -24% -55% 0.013 $6,154,992
MNS Magnis Energy Tech 0% -50% -54% 0.185 $207,240,010
EUR European Lithium Ltd 0% 35% 25% 0.1 $148,923,919
QEM QEM Limited 0% 11% 1% 0.2 $25,724,426
ESR Estrella Res Ltd 0% -36% -68% 0.009 $11,868,576
VRC Volt Resources Ltd 0% -33% -52% 0.01 $39,394,240
NTU Northern Min Ltd 0% -5% -5% 0.04 $203,105,837
EVG Evion Group NL 0% -38% -58% 0.044 $15,364,498
SGQ St George Min Ltd 0% -41% 3% 0.04 $31,939,402
TKL Traka Resources 0% -25% -25% 0.006 $5,227,977
PRL Province Resources 0% -32% -52% 0.041 $48,441,220
VML Vital Metals Limited 0% -47% -80% 0.01 $53,061,499
BSX Blackstone Ltd 0% 11% -51% 0.15 $71,053,337
BRB Breaker Res NL 0% 50% 109% 0.48 $164,783,970
FFX Firefinch Ltd 0% 0% -38% 0.2 $236,569,316
LML Lincoln Minerals 0% 119% 119% 0.015 $8,624,756
1MC Morella Corporation 0% -25% -68% 0.009 $57,936,515
MOH Moho Resources 0% -10% -46% 0.019 $3,945,583
ARU Arafura Rare Earths 0% -16% 1% 0.39 $813,645,407
S2R S2 Resources 0% -21% -27% 0.135 $53,311,899
CNJ Conico Ltd 0% -6% -72% 0.008 $14,130,856
CNB Carnaby Resource Ltd 0% 36% 20% 1.27 $200,947,379
BYH Bryah Resources Ltd 0% -30% -59% 0.018 $4,921,937
CTN Catalina Resources 0% -60% -62% 0.004 $4,953,949
KOR Korab Resources 0% -7% -7% 0.028 $10,277,401
SCN Scorpion Minerals 0% 4% -27% 0.073 $24,199,434
GCM Green Critical Min 0% 0% 49% 0.017 $17,756,616
RR1 Reach Resources Ltd 0% 20% 0% 0.006 $16,530,305
RGL Riversgold 0% -40% -63% 0.018 $16,072,952
SRZ Stellar Resources 0% -15% -54% 0.011 $11,553,256
ZNC Zenith Minerals Ltd 0% -45% -60% 0.145 $54,514,438
KOB Kobaresourceslimited 0% 32% 0% 0.185 $20,029,168
AZI Altamin Limited 0% -6% -22% 0.075 $27,420,174
CLZ Classic Min Ltd 0% -89% -99% 0.001 $5,761,930
ABX ABX Group Limited 0% -13% -39% 0.1 $23,477,036
RR1 Reach Resources Ltd 0% 20% 0% 0.006 $16,530,305
KFM Kingfisher Mining 0% -49% -4% 0.24 $13,697,326
WC1 Westcobarmetals 0% -44% -27% 0.095 $7,947,305
PTR Petratherm Ltd 0% 21% -36% 0.07 $15,732,581
CDT Castle Minerals 0% -29% -63% 0.015 $19,116,382
A11 Atlantic Lithium 0% 0% 0% 0.62 $374,683,622
LLI Loyal Lithium Ltd 0% 8% 5% 0.32 $19,036,801
PBL Parabellumresources 0% 1% 60% 0.345 $18,879,264
PAT Patriot Lithium 0% -6% 0% 0.25 $14,917,439
SRN Surefire Rescs NL 0% 58% -49% 0.019 $28,464,544
EG1 Evergreenlithium 0% 0% 0% 0.44 $24,178,901
BHP BHP Group Limited 0% -4% 4% 43.8 $223,909,268,576
MCR Mincor Resources NL 0% -7% -44% 1.4 $759,351,430
S32 South32 Limited -1% 0% -15% 4.01 $18,356,488,781
AGY Argosy Minerals Ltd -1% -13% 22% 0.495 $702,203,750
ESS Essential Metals Ltd -1% 48% -13% 0.48 $131,107,681
1AE Auroraenergymetals -1% -40% -76% 0.09 $11,047,877
PNT Panthermetalsltd -1% -59% -65% 0.077 $4,708,551
AXE Archer Materials -1% -38% -48% 0.38 $100,664,571
CTM Centaurus Metals Ltd -1% -35% -37% 0.73 $305,380,986
PGM Platina Resources -2% 71% -12% 0.0325 $21,188,132
NVA Nova Minerals Ltd -2% -52% -50% 0.325 $69,593,627
SYR Syrah Resources -2% -54% -49% 0.94 $629,614,891
TLG Talga Group Ltd -2% -3% -1% 1.355 $499,478,329
MLX Metals X Limited -2% -34% -49% 0.255 $240,425,509
CHN Chalice Mining Ltd -2% 17% 9% 7.4 $2,845,223,029
WKT Walkabout Resources -2% -30% -43% 0.098 $63,628,652
COB Cobalt Blue Ltd -2% -59% -72% 0.24 $90,664,096
IG6 Internationalgraphit -2% -17% -24% 0.225 $22,876,909
SYA Sayona Mining Ltd -2% 16% -21% 0.22 $2,138,206,987
KNI Kunikolimited -2% -14% -53% 0.44 $21,856,087
ARL Ardea Resources Ltd -3% -46% -67% 0.385 $66,028,568
VMC Venus Metals Cor Ltd -3% 37% 6% 0.185 $35,339,594
INR Ioneer Ltd -3% -7% -35% 0.355 $744,910,086
TON Triton Min Ltd -3% -8% 22% 0.033 $49,963,380
GRL Godolphin Resources -3% -27% -49% 0.061 $7,102,168
MRC Mineral Commodities -3% -35% -63% 0.045 $31,115,518
ASO Aston Minerals Ltd -3% 11% -39% 0.089 $99,211,054
A8G Australasian Metals -3% -26% -62% 0.14 $7,296,870
ARN Aldoro Resources -4% -19% -41% 0.13 $18,147,206
RVT Richmond Vanadium -4% 62% 0% 0.38 $32,758,967
NVX Novonix Limited -4% -34% -76% 0.975 $486,908,197
LIT Lithium Australia -4% -21% -59% 0.0355 $42,741,710
EMS Eastern Metals -4% -37% -78% 0.047 $1,914,157
IXR Ionic Rare Earths -4% -30% -57% 0.023 $94,706,519
TVN Tivan Limited -4% 11% 16% 0.08 $117,585,041
JRL Jindalee Resources -4% 8% -43% 2.04 $118,200,671
BNR Bulletin Res Ltd -4% -28% -66% 0.067 $20,257,787
AUZ Australian Mines Ltd -5% -60% -84% 0.021 $11,605,860
NC1 Nicoresourceslimited -5% -15% -55% 0.525 $46,160,627
FGR First Graphene Ltd -5% -26% -46% 0.083 $51,934,937
OMH OM Holdings Limited -5% -11% -27% 0.62 $457,946,470
STK Strickland Metals -5% 0% -50% 0.04 $66,769,548
ASN Anson Resources Ltd -5% 5% 70% 0.195 $238,590,419
LPD Lepidico Ltd -5% -41% -67% 0.0095 $68,739,954
AVL Aust Vanadium Ltd -5% 44% -28% 0.036 $165,851,009
PUR Pursuit Minerals -5% 13% -18% 0.018 $46,920,986
G88 Golden Mile Res Ltd -5% -11% -66% 0.018 $4,741,781
L1M Lightning Minerals -5% 6% 0% 0.175 $6,731,936
NIC Nickel Industries -5% -10% -33% 0.87 $2,661,346,401
AM7 Arcadia Minerals -6% -17% -28% 0.17 $7,471,664
LKE Lake Resources -6% -27% -61% 0.585 $860,579,049
AXN Alliance Nickel Ltd -6% 9% -14% 0.099 $74,876,161
LMG Latrobe Magnesium -6% -16% -10% 0.065 $106,585,481
LTR Liontown Resources -6% 109% 111% 2.76 $6,095,330,875
AZL Arizona Lithium Ltd -6% -24% -70% 0.047 $126,475,389
NKL Nickelxltd -6% -25% -67% 0.06 $5,186,118
BOA Boadicea Resources -7% -32% -59% 0.071 $5,758,426
KZR Kalamazoo Resources -7% -33% -60% 0.14 $20,574,858
TAR Taruga Minerals -7% -42% -42% 0.014 $9,884,376
IPX Iperionx Limited -7% 30% 2% 0.9 $172,719,142
LPI Lithium Pwr Int Ltd -7% -22% -41% 0.345 $217,038,659
PSC Prospect Res Ltd -7% 13% 187% 0.135 $67,027,623
LOT Lotus Resources Ltd -8% -10% -33% 0.185 $248,636,679
FRS Forrestaniaresources -8% -49% -69% 0.072 $4,384,175
IPT Impact Minerals -8% 71% 20% 0.012 $36,981,152
FBM Future Battery -8% 126% 35% 0.12 $51,341,417
GL1 Globallith -8% -17% -13% 1.53 $414,482,454
GAL Galileo Mining Ltd -8% -20% -39% 0.705 $139,325,575
TKM Trek Metals Ltd -8% -2% 2% 0.0745 $27,113,910
ARR American Rare Earths -8% -11% -51% 0.17 $78,124,078
EFE Eastern Resources -8% -62% -72% 0.011 $14,282,385
EV1 Evolutionenergy -9% -4% -49% 0.215 $33,137,501
INF Infinity Lithium -9% -13% -22% 0.105 $50,885,131
EGR Ecograf Limited -9% -30% -62% 0.155 $69,801,687
SRI Sipa Resources Ltd -9% -38% -50% 0.02 $4,563,164
ENV Enova Mining Limited -9% -33% -44% 0.01 $3,909,294
CXO Core Lithium -9% 3% -21% 1.06 $2,007,198,139
NMT Neometals Ltd -9% -28% -56% 0.575 $312,298,765
BC8 Black Cat Syndicate -10% 7% -14% 0.38 $102,627,315
TMT Technology Metals -10% -7% -11% 0.325 $69,294,732
IMI Infinitymining -10% -51% -16% 0.135 $10,324,574
XTC Xantippe Res Ltd -10% -10% -59% 0.0045 $45,920,400
PVW PVW Res Ltd -11% -34% -80% 0.065 $6,400,135
RAS Ragusa Minerals Ltd -11% -30% 0% 0.08 $11,693,101
HRE Heavy Rare Earths -11% 4% 0% 0.12 $7,138,553
LNR Lanthanein Resources -12% -29% -46% 0.015 $16,823,635
PAN Panoramic Resources -12% -37% -59% 0.11 $225,600,541
EMC Everest Metals Corp -12% -8% -48% 0.073 $10,613,516
VTM Victory Metals Ltd -12% -2% 59% 0.215 $12,978,557
LIN Lindian Resources -12% 129% 976% 0.355 $374,820,360
VHM Vhmlimited -12% 0% 0% 0.745 $116,208,291
GLN Galan Lithium Ltd -12% -1% -27% 1.055 $328,399,484
RXL Rox Resources -13% 100% 4% 0.35 $84,132,849
MRR Minrex Resources Ltd -13% -56% -75% 0.014 $16,273,014
WCN White Cliff Min Ltd -13% -50% -67% 0.007 $6,713,382
AOA Ausmon Resorces -13% -50% -56% 0.0035 $3,877,158
FG1 Flynngold -13% -31% -50% 0.069 $7,818,390
MMC Mitremining -13% -4% 86% 0.27 $11,470,531
FRB Firebird Metals -13% -35% -71% 0.1 $7,307,501
STM Sunstone Metals Ltd -13% -30% -54% 0.026 $70,752,054
VUL Vulcan Energy -14% -37% -46% 4 $692,308,265
RLC Reedy Lagoon Corp. -14% -40% -78% 0.006 $3,400,319
GED Golden Deeps -14% -33% -68% 0.006 $8,086,588
CHR Charger Metals -14% 28% 0% 0.57 $23,605,760
RMX Red Mount Min Ltd -14% -40% -63% 0.003 $9,087,405
AVW Avira Resources Ltd -14% 0% -25% 0.003 $6,401,371
GRE Greentechmetals -15% 4% -15% 0.145 $4,682,051
CMO Cosmometalslimited -15% -19% -19% 0.11 $2,806,101
TMB Tambourahmetals -16% -16% -60% 0.088 $3,707,335
MQR Marquee Resource Ltd -17% -32% -76% 0.025 $7,852,981
KTA Krakatoa Resources -17% -45% -68% 0.024 $8,721,039
PGD Peregrine Gold -18% -21% -37% 0.305 $17,952,837
AML Aeon Metals Ltd. -18% -33% -50% 0.018 $20,831,613
AS2 Askarimetalslimited -23% -27% -40% 0.3175 $22,910,341
YAR Yari Minerals Ltd -23% 0% -26% 0.017 $9,164,799
LRV Larvottoresources -24% 9% -44% 0.175 $12,105,851
MTM MTM Critical Metals -24% 58% -19% 0.125 $9,719,332
PVT Pivotal Metals Ltd -25% -32% -27% 0.03 $14,290,076
ENT Enterprise Metals -29% -50% -67% 0.005 $4,230,485
CODE COMPANY 1WEEK RETURN % YEAR TO DATE RETURN % 12 MONTH RETURN % PRICE MARKET CAP
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WEEKLY SMALL CAP STANDOUTS

WILDCAT RESOURCES (ASX:WC8)

WC8 has been on roll since acquiring the historical Tabba Tabba tantalum mine and lithium-tantalum project in the Pilbara last week.

The stock actually started running before the acquisition was announced, which attracted a ‘please explain’ from the ASX.

It is now up 140% since the start of the month, and 190% year-to-date. FMG doing some lithium resource drilling next door has also helped along the share price:

Tabba Tabba includes a bunch of mining leases – important if you want to get into production quickly — large areas of outcropping pegmatites, and a high-grade 318,000t at 950ppm Ta2O5 tantalum deposit.

The project, briefly explored by Pilbara Minerals (ASX:PLS) in 2015, was historically a tanty asset so assays for lithium are limited.

However, there are some nice hits like 8m at 1.42% Li2O from 4m for WC8 to follow up.

The deal will cost WC8 up to 250m shares worth $17.25m at current prices, which makes vendor GAM a major shareholder in WC8.

“Tabba Tabba is a proven LCT pegmatite system that was within Pancontinental’s tantalum portfolio in the 1980s, along with Pilgangoora (Pilbara Minerals), Wodgina (Mineral Resources) and Yinnetharra (Delta Lithium),” WC8 exec Matthew Banks says.

“Our technical team believes there is significant exploration upside at Tabba Tabba, it is located within granted mining leases and we have approval for a 200-hole drill program.

“On deal completion we will welcome a range of major shareholders to the company and look forward to following through with discovery-focussed drill programs earmarked for 2023.”

There are also various net smelter royalties payable to GAM should the project enter production.

 

WESTAR RESOURCES (ASX:WSR)

More friskiness from ‘Lithium Trade of the Fortnight’ WSR, which is now at 13-month highs after hitting “multiple thick pegmatites” ~44m thick at the Olga Rocks project in WA.

Nothing really new to report since that May 15 announcement, so we’ll just leave this here. Assays are expected in four-five weeks.

WSR used the ASX’s ‘please explain these wild price/volume increases’ to spruik the project and the wider region.

“In addition to pegmatites, the company believes the tenements are prospective for gold and base metals,” it says.

“The company notes that it has received significant interest from media and investors following this announcement and the company has been discussed on TV’s Flashpoint, and covered in a number of media articles.

“The company also notes a number of articles identifying the Forrestania region as the next lithium corridor in Western Australia.”

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