High Voltage: WA state gov throws lithium miners $150m lifeline. Will it do the job?

WA government supports struggling lithium miners amid price flop
Support package includes waiving downstream processing fees
Port and tenement fees also waived for miners in ramp up phase

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

The Western Australian state government has thrown a lifeline to the State’s ailing lithium producers in the form of a $150 million support package to protect local jobs and ensure WA remains a battery metals powerhouse.

It comes as lithium spot prices have fallen to around US$800 per tonne, from highs of over US$8000 several years ago.

Roger Cook’s government will provide support to lithium miners in the ramp-up phase of production and downstream processing facilities for up to 24 months, after which lithium prices are expected to recover to an economically sustainable level.

For processors, Government Trading Enterprises (GTEs) including DevelopmentWA, Synergy and the Water Corporation will temporarily waive government fees to support the continuation of downstream processing of lithium, for up to 2 years, to a total value of $90 million.

That comes amid ramp up concerns and blowouts at plants in WA’s south owned by lithium giants like Tianqi, IGO and Albemarle.

For miners in the ramp-up phase, port charges and mining tenement fees will be waived for up to 24 months, to the value of $9.37 million.

Plus, a $50 million loan facility will also be available to help lithium miners access temporary interest-free loans to help sustain their operations, based on demonstrating their current financial position and operational plan.

That interest-free period will cease after average lithium spodumene prices have exceeded US$1100 per tonne for two successive quarters, or by June 30, 2026.

Mine and plant suspensions cost jobs

WA supplies around 45% of the world’s lithium raw materials and in the 2023-24 financial year lithium miners generated $8.4 billion in sales and delivered $710 million in State royalties to help pay for the operation of hospitals and schools, and build and maintain the State’s road networks.

But the unexpected price plunge this year has resulted in mine shuts and job losses.

Since the start of this year we’ve seen Core Lithium (ASX:CXO) close its Finniss mine in the Northern Territory, Pilbara Minerals (ASX:PLS) announcing it would place its secondary Ngungaju plant at Pilgangoora on care and maintenance, Arcadium Lithium (ASX:LTM) planning to close its Mt Cattlin mine in 2025, and Mineral Resources (ASX:MIN) announcing a shut down of its Bald Hill mine, only acquired last year from the administrators of collapsed Alita Resources, placing 300 jobs on the line.

Earlier this month, Greenbushes part-owner Albemarle announced plans to chop 6-7% of its global workforce, which comes after the company suspended work to construct two additional 25,000tpa lithium hydroxide trains at a plant near Bunbury in WA’s South West.

Overall, the sector employed around 11,000 people last financial year.

“This package will provide important temporary and responsible support for WA’s fledgling lithium industry, taking into account the extremely challenging market conditions it is facing,” he said.

“This package is aimed at helping our critical lithium industry and its workforce to the other side of this turbulent period – supporting local jobs and doing what’s right for WA.”

Keeping WA’s skin in the game

The Chamber of Minerals and Energy WA CEO Rebecca Tomkinson welcomed the relief package, stating it was now clear lithium prices were likely to be lower for longer but that the long-term prospects of the commodity remained strong.

“Falling lithium prices have forced a growing number of lithium operations to suspend or cease operations over the past 18 months,” she said.

“However, we know lithium remains a key commodity for the global energy transition and WA is well-placed to play a major role both mining and processing the crucial battery input.

“CME has long advocated for state government assistance to help lithium facilities through this difficult period and ensure they are well placed to quickly ramp up production when commodity prices improve.

“Today’s announcement is welcome recognition of the commercial reality facing key players in WA’s resources sector.”

Tomkinson said lithium was critical to global decarbonisation goals and WA had world-class supply.

“It’s important for governments to act when necessary to support the sector through periods of temporary market weakness and keep WA’s skin in the game for when the market recovers,” she 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 >>>

Code	Company	Price	% Week	% Month	% Six Month	% Year	Market Cap
1AE	Auroraenergymetals	0.056	-8%	14%	-33%	-33%	$10,027,569
1MC	Morella Corporation	0.029	0%	-3%	-42%	-81%	$8,789,569
A11	Atlantic Lithium	0.225	2%	-12%	-49%	-56%	$151,595,629
A8G	Australasian Metals	0.078	5%	-29%	-26%	-55%	$4,065,399
AAJ	Aruma Resources Ltd	0.014	-13%	-18%	-33%	-56%	$3,108,814
ABX	ABX Group Limited	0.039	-3%	-7%	-24%	-45%	$9,751,572
ADD	Adavale Resource Ltd	0.0025	0%	-17%	-50%	-69%	$3,059,413
ADV	Ardiden Ltd	0.13	4%	-4%	-13%	-41%	$8,127,276
AGY	Argosy Minerals Ltd	0.032	-11%	-14%	-75%	-82%	$46,589,470
AKN	Auking Mining Ltd	0.005	25%	0%	-76%	-92%	$1,956,751
ALY	Alchemy Resource Ltd	0.007	0%	-13%	0%	-30%	$8,246,534
AM7	Arcadia Minerals	0.023	-18%	-41%	-68%	-73%	$2,692,152
AML	Aeon Metals Ltd.	0.005	0%	0%	-55%	-55%	$5,482,003
ANX	Anax Metals Ltd	0.011	5%	-8%	-75%	-61%	$9,585,784
AOA	Ausmon Resorces	0.002	0%	0%	-20%	-33%	$2,117,999
AQD	Ausquest Limited	0.011	38%	38%	-13%	3%	$11,604,282
AR3	Austrare	0.105	0%	5%	-9%	-34%	$15,863,666
ARL	Ardea Resources Ltd	0.35	-8%	-19%	-43%	-23%	$69,889,020
ARN	Aldoro Resources	0.092	8%	12%	21%	10%	$10,769,899
ARR	American Rare Earths	0.28	2%	4%	0%	75%	$140,678,524
ARU	Arafura Rare Earths	0.1175	-10%	-24%	-41%	-41%	$295,719,443
AS2	Askarimetalslimited	0.014	-18%	-53%	-75%	-93%	$2,149,015
ASL	Andean Silver	0.985	-4%	-32%	28%	338%	$155,206,017
ASM	Ausstratmaterials	0.47	-7%	-18%	-53%	-68%	$85,220,229
ASN	Anson Resources Ltd	0.065	-6%	-8%	-50%	-55%	$90,002,458
ASO	Aston Minerals Ltd	0.01	11%	0%	-41%	-68%	$12,950,643
ASR	Asra Minerals Ltd	0.003	0%	-33%	-57%	-63%	$6,756,339
ATM	Aneka Tambang	0.905	5%	0%	-16%	-23%	$1,121,138
AUZ	Australian Mines Ltd	0.011	10%	-15%	10%	-21%	$15,383,633
AVL	Aust Vanadium Ltd	0.014	4%	-13%	-13%	-39%	$112,250,555
AVW	Avira Resources Ltd	0.001	0%	0%	0%	-33%	$2,938,790
AX8	Accelerate Resources	0.009	-10%	0%	-82%	-78%	$5,595,785
AXE	Archer Materials	0.3175	2%	44%	-27%	-22%	$76,454,104
AXN	Alliance Nickel Ltd	0.046	24%	15%	5%	-21%	$33,388,622
AZI	Altamin Limited	0.028	0%	-4%	-21%	-42%	$16,086,081
AZL	Arizona Lithium Ltd	0.0135	-10%	-21%	-46%	-68%	$62,633,403
BC8	Black Cat Syndicate	0.72	26%	13%	125%	194%	$393,060,542
BCA	Black Canyon Limited	0.058	-3%	-12%	-52%	-59%	$5,067,445
BHP	BHP Group Limited	40.06	0%	-5%	-11%	-14%	$201,839,789,259
BKT	Black Rock Mining	0.04	-13%	-17%	-37%	-60%	$46,325,798
BM8	Battery Age Minerals	0.09	-3%	-10%	-47%	-60%	$8,447,254
BMM	Balkanminingandmin	0.05	-2%	-7%	-11%	-67%	$4,302,026
BNR	Bulletin Res Ltd	0.042	8%	-7%	-18%	-74%	$12,038,146
BOA	Boadicea Resources	0.022	-8%	-8%	-8%	-46%	$2,713,763
BSX	Blackstone Ltd	0.027	-4%	-21%	-51%	-67%	$15,935,787
BUR	Burleyminerals	0.06	-8%	-34%	-57%	-61%	$9,172,628
BUX	Buxton Resources Ltd	0.055	-2%	-29%	-45%	-71%	$12,225,536
BYH	Bryah Resources Ltd	0.004	33%	-20%	-50%	-71%	$2,013,147
CAE	Cannindah Resources	0.048	9%	14%	-11%	-54%	$32,341,678
CAI	Calidus Resources	0.115	0%	0%	-12%	-34%	$93,678,206
CDT	Castle Minerals	0.002	0%	-33%	-60%	-80%	$3,345,628
CHN	Chalice Mining Ltd	1.3875	0%	-28%	-20%	-6%	$540,747,235
CHR	Charger Metals	0.072	-11%	-5%	-25%	-73%	$5,574,258
CLA	Celsius Resource Ltd	0.01	0%	-9%	0%	-17%	$26,995,757
CLZ	Classic Min Ltd	0.001	0%	0%	-80%	-98%	$1,544,026
CMO	Cosmometalslimited	0.02	5%	0%	-52%	-56%	$2,619,857
CMX	Chemxmaterials	0.035	-5%	-22%	-22%	-51%	$4,644,804
CNB	Carnaby Resource Ltd	0.41	11%	-2%	-47%	-33%	$61,897,409
CNJ	Conico Ltd	0.001	0%	0%	0%	-80%	$2,201,528
COB	Cobalt Blue Ltd	0.069	-5%	-22%	-26%	-79%	$28,728,283
CRI	Criticalim	0.009	-10%	-25%	-65%	-10%	$26,723,155
CRR	Critical Resources	0.006	0%	-25%	-50%	-77%	$14,591,779
CTM	Centaurus Metals Ltd	0.4325	-2%	-6%	-16%	-14%	$216,065,028
CTN	Catalina Resources	0.003	0%	-14%	0%	0%	$3,715,461
CWX	Carawine Resources	0.11	-4%	13%	10%	0%	$25,973,799
CXO	Core Lithium	0.092	-7%	-16%	-34%	-72%	$197,157,430
CY5	Cygnus Metals Ltd	0.12	0%	-17%	60%	-14%	$57,057,241
CZN	Corazon Ltd	0.002	-50%	-60%	-78%	-90%	$1,535,811
DEV	Devex Resources Ltd	0.13	24%	-7%	-69%	-50%	$57,419,787
DLI	Delta Lithium	0.1875	-4%	-22%	-35%	-60%	$132,560,232
DM1	Desert Metals	0.024	-14%	-31%	4%	-38%	$4,777,662
DRE	Dreadnought Resources Ltd	0.014	-7%	-13%	-18%	-56%	$56,291,250
DTM	Dart Mining NL	0.011	0%	-15%	-52%	-25%	$5,661,945
DVP	Develop Global Ltd	2	3%	-18%	-13%	-33%	$533,687,954
DYM	Dynamicmetalslimited	0.205	3%	5%	21%	28%	$7,380,000
E25	Element 25 Ltd	0.275	-4%	-7%	4%	-43%	$61,575,472
EFEDA	Eastern Resources	0.031	-23%	-11%	-48%	-69%	$3,974,229
EG1	Evergreenlithium	0.081	-5%	7%	-10%	-54%	$4,554,630
EGR	Ecograf Limited	0.0805	3%	1%	-46%	-53%	$34,968,150
EMC	Everest Metals Corp	0.125	0%	-7%	-11%	34%	$23,285,389
EMH	European Metals Hldg	0.15	3%	-19%	-62%	-75%	$31,116,706
EMN	Euromanganese	0.048	0%	-30%	-38%	-52%	$9,352,288
EMS	Eastern Metals	0.013	-19%	-38%	-65%	-59%	$1,477,791
EMT	Emetals Limited	0.005	0%	25%	0%	-38%	$4,250,000
ENT	Enterprise Metals	0.004	0%	0%	-20%	33%	$4,713,269
ENV	Enova Mining Limited	0.0065	-7%	-19%	-69%	-28%	$6,402,041
ESR	Estrella Res Ltd	0.016	0%	14%	256%	220%	$30,416,617
ETM	Energy Transition	0.024	0%	9%	-27%	-38%	$33,809,008
EUR	European Lithium Ltd	0.03	15%	-19%	-40%	-63%	$41,943,679
EV1	Evolutionenergy	0.029	4%	-26%	-55%	-81%	$10,456,447
EVG	Evion Group NL	0.031	-9%	11%	24%	-9%	$10,755,859
EVR	Ev Resources Ltd	0.003	0%	-18%	-64%	-69%	$4,188,814
FBM	Future Battery	0.02	-5%	5%	-51%	-74%	$13,307,119
FG1	Flynngold	0.03	-3%	0%	-9%	-59%	$7,839,494
FGR	First Graphene Ltd	0.03	-9%	-36%	-46%	-56%	$18,759,706
FIN	FIN Resources Ltd	0.005	-17%	-29%	-58%	-81%	$3,246,344
FRB	Firebird Metals	0.105	-13%	-5%	-48%	-34%	$15,659,754
FRS	Forrestaniaresources	0.013	-13%	-7%	-32%	-57%	$2,827,818
FTL	Firetail Resources	0.081	7%	-30%	74%	-5%	$26,831,086
G88	Golden Mile Res Ltd	0.011	-8%	-35%	-15%	-48%	$4,728,229
GAL	Galileo Mining Ltd	0.12	-4%	-23%	-54%	-59%	$23,714,991
GBR	Greatbould Resources	0.042	0%	-21%	-29%	-25%	$31,873,304
GCM	Green Critical Min	0.006	-8%	140%	100%	-40%	$11,445,320
GED	Golden Deeps	0.026	-4%	-16%	-38%	-51%	$3,939,581
GL1	Globallith	0.205	8%	-11%	-47%	-84%	$52,117,577
GLN	Galan Lithium Ltd	0.12	-20%	-33%	-45%	-80%	$91,736,751
GRE	Greentechmetals	0.085	-12%	-29%	-63%	-84%	$7,061,798
GRL	Godolphin Resources	0.014	-7%	-26%	-50%	-63%	$4,426,957
GSM	Golden State Mining	0.008	-20%	-27%	-27%	-53%	$2,234,965
GT1	Greentechnology	0.06	-12%	-33%	-40%	-84%	$24,491,382
GW1	Greenwing Resources	0.041	-5%	-36%	-38%	-64%	$9,866,711
HAS	Hastings Tech Met	0.33	29%	16%	32%	-52%	$50,631,318
HAW	Hawthorn Resources	0.048	-9%	-17%	-31%	-48%	$16,080,749
HRE	Heavy Rare Earths	0.041	41%	5%	17%	-52%	$3,455,281
HXG	Hexagon Energy	0.023	5%	0%	28%	156%	$11,797,066
ICL	Iceni Gold	0.056	-2%	19%	-19%	-8%	$15,257,265
IDA	Indiana Resources	0.105	0%	8%	38%	76%	$66,766,484
IG6	Internationalgraphit	0.052	-21%	-9%	-53%	-71%	$10,065,033
IGO	IGO Limited	4.87	-2%	-8%	-33%	-42%	$3,687,894,249
ILU	Iluka Resources	5.61	2%	-4%	-23%	-18%	$2,376,783,809
IMI	Infinitymining	0.014	-13%	-50%	-69%	-88%	$4,802,102
INF	Infinity Lithium	0.029	-12%	-31%	-47%	-74%	$13,415,171
INR	Ioneer Ltd	0.205	-2%	-25%	-7%	37%	$494,691,228
IPT	Impact Minerals	0.011	-8%	-15%	-42%	0%	$33,653,771
IPX	Iperionx Limited	4.41	9%	37%	101%	227%	$1,339,477,089
ITM	Itech Minerals Ltd	0.069	3%	-7%	-10%	-51%	$11,780,742
IXR	Ionic Rare Earths	0.007	-22%	-22%	-46%	-65%	$29,218,576
JLL	Jindalee Lithium Ltd	0.23	-31%	-2%	-59%	-75%	$16,926,125
JMS	Jupiter Mines.	0.1425	-5%	-19%	-55%	-16%	$284,273,271
JRV	Jervois Global Ltd	0.011	-8%	-15%	-31%	-74%	$32,433,165
KAI	Kairos Minerals Ltd	0.017	13%	0%	55%	10%	$44,725,507
KFM	Kingfisher Mining	0.048	-6%	-26%	-28%	-73%	$2,578,320
KGD	Kula Gold Limited	0.006	-8%	-14%	-40%	-82%	$3,859,272
KM1	Kalimetalslimited	0.12	0%	-27%	-70%	0%	$8,835,177
KNG	Kingsland Minerals	0.17	-8%	-6%	-19%	-38%	$12,335,355
KNI	Kunikolimited	0.225	22%	41%	7%	-12%	$19,956,932
KOB	Kobaresourceslimited	0.075	-3%	-35%	-50%	-5%	$11,892,121
KOR	Korab Resources	0.008	0%	0%	60%	-56%	$2,936,400
KTA	Krakatoa Resources	0.01	0%	11%	-41%	-80%	$4,721,072
KZR	Kalamazoo Resources	0.085	0%	-10%	-19%	-32%	$16,905,549
L1M	Lightning Minerals	0.077	-6%	35%	-6%	-50%	$7,272,391
LCY	Legacy Iron Ore	0.01	-20%	-20%	-26%	-35%	$97,620,426
LEG	Legend Mining	0.011	0%	-15%	-31%	-42%	$32,004,249
LEL	Lithenergy	0.37	0%	0%	-9%	-32%	$41,440,581
LIN	Lindian Resources	0.1	-2%	4%	-13%	-41%	$112,986,379
LIT	Livium Ltd	0.018	-5%	-10%	-31%	-42%	$23,662,688
LKE	Lake Resources	0.045	-4%	-32%	-27%	-70%	$78,170,670
LLI	Loyal Lithium Ltd	0.105	0%	-19%	-58%	-72%	$9,736,972
LLL	Leolithiumlimited	0.505	0%	0%	0%	0%	$605,458,342
LM1	Leeuwin Metals Ltd	0.073	0%	0%	4%	-68%	$3,420,172
LMG	Latrobe Magnesium	0.027	17%	-4%	-52%	-52%	$63,410,509
LML	Lincoln Minerals	0.006	0%	0%	-25%	-14%	$12,337,557
LNR	Lanthanein Resources	0.003	-14%	-25%	-33%	-57%	$7,330,908
LNR	Lanthanein Resources	0.003	-14%	-25%	-33%	-57%	$7,330,908
LOT	Lotus Resources Ltd	0.24	0%	-9%	-47%	-14%	$495,917,386
LPD	Lepidico Ltd	0.002	0%	0%	-33%	-74%	$12,883,778
LPM	Lithium Plus	0.105	-13%	-34%	5%	-77%	$13,948,200
LRS	Latin Resources Ltd	0.165	-15%	-11%	-34%	-11%	$462,234,211
LRV	Larvottoresources	0.5	-8%	-28%	421%	417%	$171,035,053
LSR	Lodestar Minerals	0.001	0%	0%	-38%	-69%	$3,372,329
LTM	Arcadium Lithium PLC	8.02	2%	-3%	14%	0%	$2,355,217,781
LTR	Liontown Resources	0.7825	-3%	-12%	-42%	-43%	$1,880,352,255
LU7	Lithium Universe Ltd	0.009	-10%	-43%	-50%	-76%	$6,801,347
LYC	Lynas Rare Earths	6.88	-1%	-8%	3%	6%	$6,421,513,931
M24	Mamba Exploration	0.012	20%	-14%	-40%	-63%	$2,256,987
M2R	Miramar	0.005	0%	-29%	-52%	-72%	$1,984,116
MAN	Mandrake Res Ltd	0.025	4%	-4%	-26%	-39%	$15,681,498
MEI	Meteoric Resources	0.0925	-8%	-12%	-50%	-56%	$211,481,432
MEK	Meeka Metals Limited	0.071	4%	-11%	87%	97%	$161,843,779
MHC	Manhattan Corp Ltd	0.002	100%	0%	20%	-40%	$8,995,940
MHK	Metalhawk.	0.2825	5%	66%	371%	49%	$33,014,476
MIN	Mineral Resources.	33.495	-4%	-2%	-55%	-46%	$6,597,129,536
MLS	Metals Australia	0.025	0%	19%	14%	-29%	$18,180,488
MLX	Metals X Limited	0.405	-4%	-13%	-11%	50%	$358,654,325
MNS	Magnis Energy Tech	0.042	0%	0%	0%	-22%	$50,378,922
MOH	Moho Resources	0.005	0%	-17%	25%	-50%	$3,369,864
MQR	Marquee Resource Ltd	0.014	0%	-13%	8%	-53%	$5,412,997
MRC	Mineral Commodities	0.026	0%	0%	0%	-13%	$25,596,288
MRD	Mount Ridley Mines	0.001	0%	0%	0%	-50%	$7,784,883
MRR	Minrex Resources Ltd	0.008	0%	0%	-20%	-58%	$8,678,940
MTM	MTM Critical Metals	0.068	1%	-31%	45%	162%	$23,660,777
NC1	Nicoresourceslimited	0.098	-25%	-7%	-35%	-67%	$10,726,156
NIC	Nickel Industries	0.8975	-2%	-7%	-4%	25%	$3,817,930,793
NMT	Neometals Ltd	0.085	-6%	-11%	-26%	-62%	$66,939,982
NTU	Northern Min Ltd	0.02	0%	0%	-44%	-43%	$181,181,852
NVA	Nova Minerals Ltd	0.235	15%	-13%	-2%	-6%	$68,682,338
NVX	Novonix Limited	0.715	-7%	-11%	-9%	3%	$372,792,059
NWC	New World Resources	0.019	-10%	-5%	-53%	-53%	$56,805,634
NWM	Norwest Minerals	0.019	6%	-5%	-49%	-39%	$9,217,271
OCN	Oceanalithiumlimited	0.026	0%	-11%	-33%	-78%	$2,144,948
OD6	Od6Metalsltd	0.032	-29%	10%	-49%	-83%	$4,118,086
ODE	Odessa Minerals Ltd	0.007	17%	17%	133%	-22%	$8,877,978
OM1	Omnia Metals Group	0.078	0%	0%	0%	0%	$4,550,568
OMH	OM Holdings Limited	0.34	0%	-12%	-30%	-27%	$260,527,312
PAM	Pan Asia Metals	0.063	0%	-2%	-61%	-57%	$12,746,410
PAT	Patriot Lithium	0.044	-10%	5%	-47%	-79%	$4,553,140
PBL	Parabellumresources	0.05	0%	0%	19%	-86%	$3,115,000
PEK	Peak Rare Earths Ltd	0.12	14%	-33%	-50%	-68%	$36,767,431
PEK	Peak Rare Earths Ltd	0.12	14%	-33%	-50%	-68%	$36,767,431
PFE	Panteraminerals	0.02	0%	-29%	-58%	-65%	$9,475,674
PGD	Peregrine Gold	0.15	15%	-12%	-48%	-52%	$9,842,371
PGM	Platina Resources	0.019	0%	-24%	-21%	-24%	$11,840,426
PLL	Piedmont Lithium Inc	0.1825	-1%	-1%	-15%	-57%	$74,263,086
PLS	Pilbara Min Ltd	2.395	-17%	-13%	-39%	-33%	$7,318,051,760
PMT	Patriotbatterymetals	0.245	-11%	-37%	-72%	-77%	$141,611,681
PNN	Power Minerals Ltd	0.092	-7%	-8%	-34%	-63%	$10,588,503
PNT	Panthermetalsltd	0.017	-15%	-54%	-49%	-57%	$4,236,275
POS	Poseidon Nick Ltd	0.0045	13%	-10%	-18%	-71%	$16,815,502
PRL	Province Resources	0.041	0%	0%	0%	0%	$48,441,219
PSC	Prospect Res Ltd	0.1	6%	32%	-49%	1%	$57,172,375
PTR	Petratherm Ltd	0.165	43%	200%	617%	230%	$47,039,757
PUR	Pursuit Minerals	0.0025	0%	-17%	-38%	-74%	$9,088,500
PVT	Pivotal Metals Ltd	0.009	-5%	13%	-55%	-55%	$8,165,033
PVW	PVW Res Ltd	0.016	-6%	-24%	-38%	-67%	$3,182,476
QEM	QEM Limited	0.041	14%	-27%	-71%	-77%	$7,824,181
QPM	QPM Energy Limited	0.043	-4%	8%	13%	-19%	$108,410,691
QXR	Qx Resources Limited	0.005	11%	-17%	-58%	-83%	$5,760,350
RAG	Ragnar Metals Ltd	0.021	5%	-9%	31%	-9%	$9,953,706
RAS	Ragusa Minerals Ltd	0.013	-7%	-13%	-32%	-70%	$1,853,784
RBX	Resource B	0.042	17%	20%	40%	-51%	$4,337,948
REC	Rechargemetals	0.026	0%	-40%	-33%	-76%	$3,631,939
REE	Rarex Limited	0.0105	5%	-13%	-48%	-68%	$8,408,881
RGL	Riversgold	0.0035	17%	0%	-53%	-75%	$5,696,119
RIL	Redivium Limited	0.004	0%	0%	33%	-50%	$10,987,419
RLC	Reedy Lagoon Corp.	0.002	0%	-33%	-33%	-71%	$1,523,413
RMX	Red Mount Min Ltd	0.011	10%	38%	-27%	-64%	$3,873,578
RNU	Renascor Res Ltd	0.066	-3%	-10%	-40%	-51%	$165,218,929
RON	Roninresourcesltd	0.16	0%	23%	33%	-22%	$6,460,002
RR1	Reach Resources Ltd	0.008	-27%	-27%	-43%	-65%	$6,995,451
RR1	Reach Resources Ltd	0.008	-27%	-27%	-43%	-65%	$6,995,451
RVT	Richmond Vanadium	0.26	-10%	-17%	8%	-16%	$22,414,030
RXL	Rox Resources	0.16	0%	-16%	-6%	-5%	$69,849,274
S2R	S2 Resources	0.07	-4%	-10%	-44%	-59%	$32,605,775
S32	South32 Limited	3.75	1%	1%	-3%	21%	$17,048,052,821
SBR	Sabre Resources	0.011	0%	-15%	-39%	-71%	$4,322,581
SCN	Scorpion Minerals	0.011	-8%	-27%	-48%	-77%	$4,504,018
SGQ	St George Min Ltd	0.025	0%	0%	39%	-24%	$27,213,511
SLM	Solismineralsltd	0.09	3%	-7%	-18%	-45%	$7,348,519
SLZ	Sultan Resources Ltd	0.007	0%	-42%	-36%	-56%	$1,620,289
SMX	Strata Minerals	0.021	-13%	-19%	-5%	-63%	$4,007,119
SRI	Sipa Resources Ltd	0.013	-7%	-24%	-19%	-48%	$2,966,056
SRL	Sunrise	0.245	2%	-36%	-57%	-59%	$21,654,600
SRN	Surefire Rescs NL	0.004	33%	-33%	-56%	-58%	$7,945,231
SRZ	Stellar Resources	0.018	0%	0%	-18%	100%	$39,515,261
STK	Strickland Metals	0.081	1%	16%	-26%	-54%	$178,800,594
STM	Sunstone Metals Ltd	0.007	-7%	0%	-46%	-56%	$36,049,325
SUM	Summitminerals	0.2	21%	8%	0%	74%	$16,833,958
SYA	Sayona Mining Ltd	0.031	-18%	-6%	-30%	-55%	$369,385,472
SYR	Syrah Resources	0.2275	-3%	-22%	-53%	-63%	$238,025,106
SYR	Syrah Resources	0.2275	-3%	-22%	-53%	-63%	$238,025,106
TAR	Taruga Minerals	0.01	0%	-17%	25%	0%	$7,060,268
TEM	Tempest Minerals	0.005	-17%	-17%	-48%	-35%	$3,136,349
THR	Thor Energy PLC	0.014	0%	-7%	-22%	-53%	$3,382,069
TKL	Traka Resources	0.0015	50%	50%	-25%	-52%	$2,918,488
TKM	Trek Metals Ltd	0.02	-26%	-31%	-55%	-57%	$10,277,457
TLG	Talga Group Ltd	0.48	9%	20%	-33%	-51%	$206,024,284
TMB	Tambourahmetals	0.028	8%	-20%	-62%	-79%	$3,096,521
TMX	Terrain Minerals	0.003	0%	0%	-14%	-25%	$5,400,086
TON	Triton Min Ltd	0.007	-30%	-30%	-42%	-70%	$12,547,110
TOR	Torque Met	0.043	-17%	-43%	-80%	-76%	$10,735,549
TVN	Tivan Limited	0.052	-7%	8%	4%	-33%	$95,247,212
VHM	Vhmlimited	0.385	-1%	-11%	-17%	-41%	$62,664,909
VMC	Venus Metals Cor Ltd	0.07	0%	13%	-26%	-30%	$13,729,008
VML	Vital Metals Limited	0.0025	-17%	25%	-38%	-75%	$11,790,134
VR8	Vanadium Resources	0.026	-7%	-45%	-51%	-42%	$14,628,255
VRC	Volt Resources Ltd	0.0035	0%	-13%	-30%	-42%	$12,476,034
VTM	Victory Metals Ltd	0.405	9%	13%	50%	72%	$43,943,599
VUL	Vulcan Energy	7.16	15%	57%	49%	205%	$1,392,595,425
WA1	Wa1Resourcesltd	15.92	10%	11%	-22%	94%	$1,086,838,205
WC1	Westcobarmetals	0.016	-11%	-24%	-72%	-74%	$2,548,265
WC8	Wildcat Resources	0.2425	-10%	-31%	-49%	-71%	$309,141,075
WCN	White Cliff Min Ltd	0.015	0%	-32%	-3%	25%	$30,247,532
WIN	WIN Metals	0.021	5%	-52%	-42%	-83%	$10,958,307
WKT	Walkabout Resources	0.095	0%	-2%	-24%	-32%	$63,769,838
WMG	Western Mines	0.195	11%	-5%	-55%	-19%	$16,604,460
WML	Woomera Mining Ltd	0.002	0%	0%	-50%	-91%	$4,333,180
WR1	Winsome Resources	0.46	-10%	-16%	-63%	-58%	$100,782,133
WSR	Westar Resources	0.008	0%	0%	-20%	-69%	$3,189,799
XTC	XTC Lithium Limited	0.2	19900%	19900%	19900%	0%	$17,528,272
YAR	Yari Minerals Ltd	0.003	-25%	0%	-40%	-81%	$1,447,073
ZNC	Zenith Minerals Ltd	0.041	-2%	-18%	-41%	-74%	$16,591,209

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Weekly Small Cap Standouts

Hastings Technology Metals (ASX:HAS)

The company has signed a non-binding Memorandum of Understanding with the Ministry of Investment of Saudi Arabia (MISA) to create an integrated rare earths downstream processing supply chain in the country.

Hastings’ is one of nine parties selected for MISA’s Global Supply Chain Resilience Initiative (GSCRI) program totalling US$9 billion/A$14 billion.

The MOU Saudi Arabia has a “Vision 2030” plan to diversify their economy and reduce reliance on oil revenue with a focus on high tech industry, unlocking downstream opportunities, jobs and skill upgrading and research and development.

The company is looking to develop a Stage 2 of its Yangibana rare earths and niobium project in WA which is a hydrometallurgical plant. Stage 1 being the construction of a beneficiation plant in WA, which is now 33% complete.

Hastings is also investigating placing the hydrometallurgical plant in Estonia, having a MOU in place with the Estonian government, too.

MISA is offering to support the company to refresh its Bankable Feasibility Study (BFS) based on the location of the plant in Saudi Arabia, as well as identify suitable local partners for all stages of business establishment – which includes Saudi Industrial Development Fund (SIDF) which can lend up to 75% of the project cost.

Western Mines Group (ASX:WMG)

The company has raised $1.19m via a placement at 15c to progress its Mulga Tank nickel sulphide play in WA.

Since the company discovered Mulga Tank last year, there have been three rounds of RC drilling and some diamond drilling conducted, with 21,704m sunk into the ground.

According to WMG, it’s looking more like BHP’s Perseverance orebody at Leinster than the bulky, disseminated Mt Keith – the early analogue on the first large, low-grade drill results in 2023 – with higher grades encountered in the central-eastern area of the complex.

Currently the company is targeting areas where it can find higher grade “starter pit” material, but is also looking for a larger sulphide deposit hidden beneath cover or Kambalda style komatiite channels suggested in very narrow drill intercepts.