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