- China cathode/battery firms curtailing production in November, sending local lithium prices lower
- Global lithium stocks smashed, but JP Morgan says year-end battery production cuts are common in China
- This week’s top battery metals stocks: OD6 Metals, Victory Goldfields
Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, manganese, magnesium, and vanadium.
Lithium stocks were smashed yesterday after a couple of bearish analyst notes threatened to tap the brakes on the battery metal’s outstanding run in 2022.
Just days after lithium prices hit another all-time high, Credit Suisse said there were rumours that a major cathode producer in China was reducing production.
“Wuxi li carbonate futures have dropped 7% on speculation in China that a major cathode producer might have slashed production targets and some Chinese firms forecasting softening in the market later in 2023,” says CS analyst Saul Kavonic.
Then Goldman Sachs said a thing:
Meanwhile, JP Morgan said CATL – the biggest manufacturer of lithium-ion batteries for EVs in the world – was cutting battery production in November. That was the reason for the fall in lithium prices, it said.
Don’t stress, yet: year-end battery production cuts are common
But it also noted that battery production cuts in November in China are fairly common ahead of lower-than-usual EV sales in January.
“Battery production usually leads underlying EV sales by 1-2 months; hence it is a very common seasonal trend for battery makers to start reducing production output from November ahead of lower 1Q EV sales,” JP Morgan says.
“…several industry consulting firms such as ICCSino and ZE Consulting have indicated potential material procurement cuts in 2H-Nov.
“We view this as back to the seasonal trend we witness in 2019 or earlier years (but not in 2020-21 where CATL’s production did not take any Xmas break in Nov-Dec given the higher demand coming from not only domestic sales but also overseas share gains).”
JP Morgan have heard estimates of 30% production cuts this month, it says, which is less than the same period in 2019.
“While we need to verify the details, we note CATL cut its battery production by ~60% m/m in Nov-2019 (followed by another >40% cut in Dec-2019.
“This was followed by ~80% m/m decline in China monthly NEV sales run rate in Jan-Feb 2020 vs Dec-2019.”
So, is it bearish CATL are cutting production in November for the first time in two years? The market certainly seems to think so.
ASX lithium stocks flattened
Larger stocks (miners and advanced project developers) both here and listed overseas were crushed.
Locally, Allkem (ASX:AKE) closed the day down 12.36%, with Pilbara Minerals (ASX:PLS) off 8.7%, IGO (ASX:IGO) knocked back 7.36% and Mineral Resources (ASX:MIN) falling 4.84%.
Among the mid-caps Core Lithium (ASX:CXO) cratered 15.82%, Sayona (ASX:SYA) fell 9.62%, Lake Resources (ASX:LKE) tumbled 7.66% and Liontown Resources (ASX:LTR) slid 6.82%.
CXO copped a double whammy of analyst pain after Macquarie downgraded the emerging miner to ‘neutral’ from outperform due to high executive turnover and increased risk of project delays.
“Core Lithium has announced the resignation of its CFO, and the company is undergoing the search for a replacement,” it said yesterday.
“This follows the exit of the Managing Director and CEO in October and of the COO in early 2022, making for high executive turnover in recent months.”
Coupled with weather impacts, senior management changes increase risk of project delays at the Finniss project, according to Macquarie.
“While the company continues to anticipate first spodumene production in the second half of FY23, Macquarie now assumes first production in FY24,” it says.
“The rating is downgraded to Neutral from Outperform and the target price decreases to $1.80 from $1.90.”
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].
| CODE | COMPANY | 1 WEEK RETURN % | 1 MONTH RETURN % | 6 MONTH RETURN % | 1 YEAR RETURN % | PRICE | MARKET CAP |
|---|
| TKM | Trek Metals Ltd | 106% | 132% | 43% | 24% | 0.13 | $27,333,693 |
| WR1 | Winsome Resources | 99% | 161% | 106% | 0% | 0.925 | $134,438,424 |
| EMT | Emetals Limited | 50% | 6% | 38% | 13% | 0.018 | $15,300,000 |
| LLI | Loyal Lithium Ltd | 43% | 58% | 75% | 138% | 0.63 | $32,718,000 |
| AZS | Azure Minerals | 42% | 49% | 10% | -9% | 0.32 | $97,881,752 |
| WIN | Widgienickellimited | 38% | 35% | -13% | 79% | 0.385 | $84,089,297 |
| NWM | Norwest Minerals | 33% | 39% | 12% | -20% | 0.057 | $11,549,584 |
| THR | Thor Mining | 29% | 0% | -31% | -44% | 0.009 | $9,925,951 |
| CAE | Cannindah Resources | 28% | 14% | -14% | -51% | 0.25 | $145,034,426 |
| LPM | Lithium Plus | 28% | 12% | 1% | 0% | 0.715 | $30,462,776 |
| A11 | Atlantic Lithium | 26% | 38% | 0% | 0% | 0.895 | $584,540,702 |
| CML | Chase Mining | 25% | 30% | 32% | 2% | 0.015 | $8,461,189 |
| FGR | First Graphene | 22% | 27% | -7% | -26% | 0.14 | $77,771,493 |
| CHR | Charger Metals | 22% | 16% | -15% | 4% | 0.55 | $25,291,500 |
| ALY | Alchemy Resource | 21% | 21% | 67% | 233% | 0.04 | $49,269,203 |
| EFE | Eastern Resources | 21% | -2% | -9% | -23% | 0.04 | $41,452,616 |
| KGD | Kula Gold Limited | 20% | -4% | 3% | -18% | 0.0385 | $12,776,053 |
| MAN | Mandrake Res Ltd | 20% | 17% | -14% | -26% | 0.042 | $21,914,497 |
| ARN | Aldoro Resources | 20% | 67% | 33% | -27% | 0.36 | $39,258,498 |
| OD6 | Od6Metalsltd | 20% | 33% | 0% | 0% | 0.24 | $12,335,124 |
| E25 | Element 25 Ltd | 20% | 64% | 65% | -5% | 1.27 | $189,732,858 |
| PNN | Power Minerals Ltd | 20% | 16% | -15% | -9% | 0.575 | $39,686,368 |
| FG1 | Flynngold | 19% | 14% | -14% | -26% | 0.125 | $7,367,021 |
| HXG | Hexagon Energy | 19% | -6% | -50% | -85% | 0.016 | $7,693,739 |
| OCN | Oceanalithiumlimited | 18% | 4% | 0% | 0% | 0.55 | $16,427,250 |
| TON | Triton Min Ltd | 18% | 13% | -16% | -35% | 0.026 | $37,335,173 |
| OMH | OM Holdings Limited | 17% | 14% | -16% | -25% | 0.74 | $546,581,269 |
| WMG | Western Mines | 17% | -4% | -44% | -29% | 0.135 | $4,579,063 |
| LNR | Lanthanein Resources | 17% | -13% | 17% | 48% | 0.034 | $31,773,244 |
| RNU | Renascor Res Ltd | 15% | 27% | 10% | 90% | 0.2475 | $511,657,322 |
| GT1 | Greentechnology | 15% | 37% | 13% | 0% | 1.075 | $190,738,393 |
| MCR | Mincor Resources NL | 15% | -12% | -31% | 15% | 1.54 | $745,182,436 |
| CY5 | Cygnus Gold Limited | 15% | 26% | 248% | 248% | 0.54 | $84,383,923 |
| GSM | Golden State Mining | 14% | 5% | -40% | -61% | 0.041 | $4,680,568 |
| PAN | Panoramic Resources | 14% | -11% | -43% | -21% | 0.165 | $338,400,811 |
| NIC | Nickel Industries | 14% | 5% | -34% | -18% | 0.83 | $2,212,331,533 |
| BYH | Bryah Resources Ltd | 14% | 0% | -50% | -60% | 0.025 | $6,468,830 |
| AGY | Argosy Minerals Ltd | 14% | 19% | 41% | 80% | 0.585 | $793,490,236 |
| CAI | Calidus Resources | 13% | -32% | -58% | -32% | 0.39 | $175,112,682 |
| RDT | Red Dirt Metals Ltd | 13% | -3% | 42% | -22% | 0.61 | $197,973,848 |
| ARU | Arafura Rare Earths | 13% | 2% | -10% | 48% | 0.3325 | $595,968,522 |
| EUR | European Lithium Ltd | 13% | 30% | 16% | -45% | 0.1025 | $151,645,113 |
| AQD | Ausquest Limited | 13% | 0% | -10% | 6% | 0.018 | $14,027,537 |
| NVA | Nova Minerals Ltd | 12% | 11% | 24% | -42% | 0.78 | $143,255,795 |
| LRV | Larvottoresources | 12% | -10% | -42% | 0% | 0.185 | $8,982,990 |
| QXR | Qx Resources Limited | 11% | -7% | 21% | 134% | 0.068 | $64,375,949 |
| ENT | Enterprise Metals | 11% | -9% | -38% | -28% | 0.01 | $5,876,826 |
| GLN | Galan Lithium Ltd | 11% | 39% | 6% | 1% | 1.685 | $528,428,744 |
| TLG | Talga Group Ltd | 11% | 16% | -8% | -28% | 1.38 | $466,387,169 |
| FRS | Forrestaniaresources | 11% | -9% | -34% | -56% | 0.205 | $9,579,766 |
| LMG | Latrobe Magnesium | 11% | 4% | 5% | 12% | 0.083 | $127,328,297 |
| LSR | Lodestar Minerals | 10% | -8% | -54% | -45% | 0.0055 | $8,692,187 |
| NC1 | Nicoresourceslimited | 10% | -14% | -58% | 0% | 0.515 | $44,402,126 |
| S32 | South32 Limited | 9% | 3% | -15% | 13% | 3.94 | $18,118,930,663 |
| FTL | Firetail Resources | 9% | -20% | -53% | 0% | 0.175 | $9,885,200 |
| EMN | Euromanganese | 9% | 11% | -11% | -47% | 0.295 | $72,203,262 |
| AR3 | Austrare | 9% | 1% | -36% | -53% | 0.355 | $30,940,504 |
| LEG | Legend Mining | 9% | -3% | -49% | -38% | 0.037 | $101,940,022 |
| KOB | Kobaresourceslimited | 9% | 42% | -8% | 0% | 0.185 | $12,025,000 |
| EMS | Eastern Metals | 9% | -17% | -26% | -49% | 0.125 | $5,273,696 |
| SUM | Summitminerals | 8% | 8% | 0% | 0% | 0.195 | $4,574,597 |
| ITM | Itech Minerals Ltd | 8% | -7% | -40% | 27% | 0.325 | $28,612,500 |
| CXO | Core Lithium | 8% | 30% | 21% | 134% | 1.5 | $2,661,317,781 |
| BHP | BHP Group Limited | 8% | 1% | -3% | 26% | 40.37 | $205,064,416,107 |
| MIN | Mineral Resources. | 8% | 10% | 40% | 108% | 78.97 | $14,305,639,014 |
| ARR | American Rare Earths | 8% | -1% | -45% | 22% | 0.2075 | $91,098,064 |
| KFM | Kingfisher Mining | 8% | 31% | 148% | 200% | 0.57 | $26,104,551 |
| RGL | Riversgold | 8% | 10% | -27% | 150% | 0.043 | $34,157,246 |
| SHH | Shree Minerals Ltd | 7% | -17% | -32% | -32% | 0.0075 | $8,669,408 |
| KOR | Korab Resources | 7% | -9% | -17% | -33% | 0.03 | $10,277,400 |
| SYR | Syrah Resources | 7% | 43% | 40% | 107% | 2.56 | $1,683,132,482 |
| AKE | Allkem Limited | 7% | 5% | 28% | 58% | 15.455 | $9,539,364,967 |
| PLS | Pilbara Min Ltd | 7% | 0% | 99% | 131% | 5.445 | $15,534,167,402 |
| VMC | Venus Metals Cor Ltd | 7% | 10% | -14% | -11% | 0.16 | $27,602,196 |
| AX8 | Accelerate Resources | 7% | -11% | -18% | -33% | 0.032 | $8,113,767 |
| IMI | Infinitymining | 7% | 7% | 26% | 0% | 0.24 | $14,201,719 |
| LIT | Lithium Australia | 6% | -9% | -44% | -63% | 0.05 | $62,280,775 |
| LYC | Lynas Rare Earths | 6% | 14% | -2% | 21% | 8.86 | $8,027,995,825 |
| BKT | Black Rock Mining | 6% | -13% | -28% | -28% | 0.17 | $171,891,641 |
| AUZ | Australian Mines Ltd | 6% | 3% | -62% | -73% | 0.068 | $30,935,114 |
| LKE | Lake Resources | 6% | 11% | -32% | 3% | 1.125 | $1,592,579,022 |
| GGG | Greenland Minerals | 6% | 15% | -21% | -58% | 0.053 | $63,719,969 |
| AZI | Altamin Limited | 6% | 2% | -6% | 11% | 0.09 | $34,471,074 |
| AAJ | Aruma Resources Ltd | 6% | 1% | -18% | -14% | 0.074 | $11,615,151 |
| SGQ | St George Min Ltd | 6% | 88% | 79% | 15% | 0.075 | $52,501,336 |
| IPX | Iperionx Limited | 6% | -11% | -24% | -22% | 0.75 | $128,419,119 |
| CRR | Critical Resources | 5% | -11% | -36% | 23% | 0.058 | $80,650,169 |
| PSC | Prospect Res Ltd | 5% | 4% | 109% | 325% | 0.1 | $45,763,687 |
| KZR | Kalamazoo Resources | 5% | 0% | -46% | -41% | 0.2 | $29,763,875 |
| BUX | Buxton Resources Ltd | 5% | 5% | 11% | 9% | 0.105 | $15,559,357 |
| TNG | TNG Limited | 5% | 1% | 21% | -29% | 0.085 | $118,015,549 |
| IG6 | Internationalgraphit | 5% | -7% | -7% | 0% | 0.32 | $28,156,195 |
| MRR | Minrex Resources Ltd | 5% | -22% | -25% | 105% | 0.043 | $46,592,293 |
| ESR | Estrella Res Ltd | 5% | 0% | -45% | -67% | 0.011 | $16,252,119 |
| POS | Poseidon Nick Ltd | 5% | -6% | -35% | -47% | 0.046 | $140,942,138 |
| OZL | OZ Minerals | 5% | -4% | 8% | 6% | 25.26 | $8,388,710,677 |
| ILU | Iluka Resources | 4% | -3% | -15% | 5% | 9.03 | $3,854,134,610 |
| ESS | Essential Metals Ltd | 4% | -8% | -9% | 100% | 0.48 | $124,627,946 |
| MOH | Moho Resources | 4% | -11% | -43% | -59% | 0.024 | $4,568,568 |
| SYA | Sayona Mining Ltd | 4% | 2% | -14% | 63% | 0.245 | $1,995,387,034 |
| BNR | Bulletin Res Ltd | 4% | 4% | -21% | 73% | 0.135 | $39,499,799 |
| AZL | Arizona Lithium Ltd | 4% | 3% | -49% | -37% | 0.082 | $192,794,045 |
| S2R | S2 Resources | 4% | -10% | -18% | -15% | 0.14 | $49,934,480 |
| WML | Woomera Mining Ltd | 4% | -38% | -36% | -33% | 0.014 | $10,570,323 |
| BMM | Balkanminingandmin | 3% | 0% | -2% | -56% | 0.3 | $12,043,012 |
| WC8 | Wildcat Resources | 3% | -6% | -6% | -33% | 0.03 | $19,879,068 |
| ARL | Ardea Resources Ltd | 3% | -9% | -30% | 96% | 0.91 | $142,579,728 |
| INR | Ioneer Ltd | 3% | -8% | 1% | -28% | 0.5725 | $1,216,917,764 |
| NWC | New World Resources | 3% | 3% | -28% | -56% | 0.033 | $62,964,696 |
| QPM | Queensland Pacific | 3% | 13% | 6% | -23% | 0.17 | $294,145,290 |
| IGO | IGO Limited | 3% | 2% | 30% | 72% | 15.74 | $11,578,624,861 |
| LTR | Liontown Resources | 3% | 22% | 41% | 1% | 1.94 | $4,195,191,519 |
| MMC | Mitremining | 3% | 9% | 23% | -12% | 0.185 | $4,875,318 |
| MNS | Magnis Energy Tech | 3% | 3% | -8% | -37% | 0.385 | $368,725,964 |
| PNT | Panthermetalsltd | 3% | -2% | -11% | 0% | 0.2 | $6,100,000 |
| JRV | Jervois Global Ltd | 3% | -15% | -42% | -5% | 0.5025 | $760,282,481 |
| PRL | Province Resources | 3% | -2% | -9% | -45% | 0.082 | $93,337,958 |
| NTU | Northern Min Ltd | 2% | 5% | -4% | -19% | 0.043 | $209,390,635 |
| DVP | Develop Global Ltd | 2% | -6% | 0% | -14% | 2.69 | $434,937,864 |
| GBR | Greatbould Resources | 2% | -13% | -9% | -41% | 0.091 | $38,058,496 |
| SLZ | Sultan Resources Ltd | 2% | 8% | -35% | -46% | 0.097 | $8,078,586 |
| REE | Rarex Limited | 2% | -11% | -38% | -42% | 0.055 | $30,707,489 |
| ZNC | Zenith Minerals Ltd | 2% | -10% | -25% | 16% | 0.285 | $96,533,438 |
| LPI | Lithium Pwr Int Ltd | 2% | -1% | -20% | 14% | 0.575 | $224,940,647 |
| EGR | Ecograf Limited | 1% | 3% | -27% | -45% | 0.35 | $139,603,372 |
| HAS | Hastings Tech Met | 1% | 1% | -31% | -29% | 3.6 | $469,967,455 |
| VUL | Vulcan Energy | 1% | 6% | 0% | -38% | 7.71 | $1,080,748,170 |
| CTM | Centaurus Metals Ltd | 1% | -3% | -21% | -6% | 0.95 | $405,750,959 |
| CHN | Chalice Mining Ltd | 1% | 4% | -39% | -33% | 4.315 | $1,599,263,075 |
| MLX | Metals X Limited | 1% | -18% | -60% | -30% | 0.2575 | $231,352,847 |
| CNB | Carnaby Resource Ltd | 1% | 18% | -22% | 179% | 0.88 | $128,659,196 |
| JRL | Jindalee Resources | 0% | 6% | -37% | -9% | 2.4 | $135,988,149 |
| GL1 | Globallith | 0% | 5% | 33% | 308% | 2.445 | $477,642,214 |
| VIA | Viagold Rare Earth | 0% | 0% | 0% | 0% | 2 | $166,624,808 |
| PVW | PVW Res Ltd | 0% | -13% | -61% | -71% | 0.13 | $12,092,844 |
| A8G | Australasian Metals | 0% | -25% | -49% | -69% | 0.225 | $9,469,214 |
| INF | Infinity Lithium | 0% | 16% | 43% | -4% | 0.215 | $89,590,451 |
| PAM | Pan Asia Metals | 0% | -4% | -22% | -24% | 0.38 | $55,805,124 |
| LOT | Lotus Resources Ltd | 0% | 2% | -28% | -29% | 0.23 | $298,356,874 |
| GSR | Greenstone Resources | 0% | -30% | -13% | 4% | 0.026 | $27,939,053 |
| HNR | Hannans Ltd | 0% | 0% | -28% | -53% | 0.021 | $54,731,701 |
| MRD | Mount Ridley Mines | 0% | -17% | -38% | -29% | 0.005 | $30,727,212 |
| AVZ | AVZ Minerals Ltd | 0% | 0% | 0% | 47% | 0.78 | $2,752,409,203 |
| GME | GME Resources Ltd | 0% | -31% | -39% | 14% | 0.079 | $50,757,996 |
| GED | Golden Deeps | 0% | -27% | -31% | -8% | 0.011 | $12,707,494 |
| PGM | Platina Resources | 0% | 0% | -53% | -69% | 0.019 | $11,361,739 |
| CWX | Carawine Resources | 0% | -9% | -59% | -56% | 0.086 | $11,853,754 |
| TKL | Traka Resources | 0% | -14% | -40% | -60% | 0.006 | $4,132,647 |
| IPT | Impact Minerals | 0% | 0% | -36% | -48% | 0.007 | $14,888,223 |
| ADD | Adavale Resource Ltd | 0% | 0% | -14% | -44% | 0.03 | $14,794,224 |
| FFX | Firefinch Ltd | 0% | 0% | -45% | -10% | 0.2 | $236,248,644 |
| ATM | Aneka Tambang | 0% | -13% | -20% | -9% | 1 | $1,303,649 |
| RMX | Red Mount Min Ltd | 0% | -17% | -44% | -50% | 0.005 | $8,211,819 |
| GW1 | Greenwing Resources | 0% | -19% | -20% | -32% | 0.33 | $40,385,748 |
| LML | Lincoln Minerals | 0% | 0% | 0% | 0% | 0.008 | $4,599,869 |
| MRC | Mineral Commodities | 0% | -1% | -38% | -47% | 0.074 | $41,352,632 |
| PUR | Pursuit Minerals | 0% | -15% | -54% | -68% | 0.011 | $10,979,971 |
| EMH | European Metals Hldg | 0% | 13% | -31% | -45% | 0.78 | $94,668,030 |
| WKT | Walkabout Resources | 0% | 0% | -4% | 10% | 0.173011 | $78,248,343 |
| EVR | Ev Resources Ltd | 0% | -19% | -55% | -48% | 0.022 | $21,297,634 |
| DTM | Dart Mining NL | 0% | -16% | -3% | -35% | 0.068 | $10,557,691 |
| LRS | Latin Resources Ltd | 0% | 5% | -4% | 167% | 0.115 | $229,641,140 |
| SCN | Scorpion Minerals | 0% | -3% | -18% | 3% | 0.07 | $23,359,433 |
| AOA | Ausmon Resorces | 0% | -25% | -40% | -14% | 0.006 | $5,143,736 |
| RR1 | Reach Resources Ltd | 0% | -17% | -33% | -41% | 0.005 | $9,550,253 |
| AVW | Avira Resources Ltd | 0% | -14% | -40% | -57% | 0.003 | $6,401,370 |
| KAI | Kairos Minerals Ltd | 0% | -9% | 11% | 0% | 0.031 | $60,886,898 |
| PGD | Peregrine Gold | 0% | -28% | -8% | 13% | 0.435 | $17,424,700 |
| RAS | Ragusa Minerals Ltd | 0% | -33% | 186% | 137% | 0.22 | $28,822,778 |
| SRZ | Stellar Resources | 0% | -14% | -52% | -50% | 0.012 | $13,060,202 |
| EVR | Ev Resources Ltd | 0% | -19% | -55% | -48% | 0.022 | $21,297,634 |
| ODE | Odessa Minerals Ltd | 0% | -19% | 0% | 240% | 0.017 | $9,260,018 |
| XTC | Xantippe Res Ltd | 0% | -13% | -42% | 40% | 0.007 | $57,016,609 |
| MEK | Meeka Metals Limited | 0% | -3% | 32% | 16% | 0.058 | $62,988,927 |
| LIN | Lindian Resources | 0% | -31% | 632% | 583% | 0.205 | $164,931,293 |
| LOT | Lotus Resources Ltd | 0% | 2% | -28% | -29% | 0.23 | $298,356,874 |
| RMX | Red Mount Min Ltd | 0% | -17% | -44% | -50% | 0.005 | $8,211,819 |
| M2R | Miramar | 0% | -5% | -37% | -53% | 0.095 | $7,068,174 |
| PVW | PVW Res Ltd | 0% | -13% | -61% | -71% | 0.13 | $12,092,844 |
| TAR | Taruga Minerals | 0% | 7% | 83% | -30% | 0.032 | $19,173,884 |
| ABX | ABX Group Limited | 0% | -6% | -17% | 43% | 0.15 | $32,420,668 |
| MEK | Meeka Metals Limited | 0% | -3% | 32% | 16% | 0.058 | $62,988,927 |
| RR1 | Reach Resources Ltd | 0% | -17% | -33% | -41% | 0.005 | $9,550,253 |
| MRD | Mount Ridley Mines | 0% | -17% | -38% | -29% | 0.005 | $30,727,212 |
| ODE | Odessa Minerals Ltd | 0% | -19% | 0% | 240% | 0.017 | $9,260,018 |
| AOA | Ausmon Resorces | 0% | -25% | -40% | -14% | 0.006 | $5,143,736 |
| CDT | Castle Minerals | 0% | -12% | -45% | -12% | 0.023 | $22,988,339 |
| BEM | Blackearth Minerals | -1% | -7% | -2% | -18% | 0.098 | $26,518,891 |
| AS2 | Askarimetalslimited | -1% | 4% | -24% | 130% | 0.425 | $19,735,649 |
| RBX | Resource B | -1% | -15% | -64% | -55% | 0.085 | $3,605,932 |
| TMT | Technology Metals | -1% | -22% | -19% | -7% | 0.345 | $73,438,595 |
| VR8 | Vanadium Resources | -2% | -33% | -44% | -17% | 0.064 | $30,864,429 |
| AVL | Aust Vanadium Ltd | -2% | -15% | -45% | 43% | 0.0315 | $124,614,165 |
| MQR | Marquee Resource Ltd | -2% | -6% | -44% | -49% | 0.059 | $18,104,202 |
| DEV | Devex Resources Ltd | -2% | -18% | -35% | -13% | 0.265 | $96,180,057 |
| IXR | Ionic Rare Earths | -2% | -4% | -35% | 10% | 0.043 | $166,522,012 |
| PEK | Peak Rare Earths Ltd | -2% | 4% | -36% | -38% | 0.42 | $88,123,128 |
| MLS | Metals Australia | -3% | -16% | -62% | -5% | 0.038 | $23,674,411 |
| BRB | Breaker Res NL | -3% | 9% | 7% | -32% | 0.2725 | $89,606,255 |
| KNI | Kunikolimited | -3% | -13% | -26% | -64% | 0.65 | $31,503,190 |
| LEL | Lithenergy | -3% | -15% | -33% | 0% | 1.075 | $63,458,250 |
| TMB | Tambourahmetals | -4% | -16% | -45% | -36% | 0.135 | $5,561,001 |
| NMT | Neometals Ltd | -4% | -5% | -23% | -2% | 1.06 | $596,534,229 |
| SRL | Sunrise | -4% | -18% | -40% | 0% | 1.925 | $174,712,285 |
| VML | Vital Metals Limited | -5% | -8% | -46% | -44% | 0.0305 | $159,184,493 |
| BOA | Boadicea Resources | -5% | -20% | -47% | -46% | 0.1 | $7,769,990 |
| VMS | Venture Minerals | -5% | -23% | -62% | -56% | 0.02 | $33,549,152 |
| AXE | Archer Materials | -5% | -14% | -14% | -59% | 0.665 | $168,052,865 |
| RXL | Rox Resources | -5% | -27% | -49% | -48% | 0.19 | $32,098,780 |
| GAL | Galileo Mining Ltd | -5% | -8% | 455% | 393% | 1.11 | $221,097,251 |
| WCN | White Cliff Min Ltd | -5% | -22% | -25% | 38% | 0.018 | $14,204,464 |
| 1VG | Victory Goldfields | -5% | 3% | 16% | -5% | 0.18 | $8,951,426 |
| WCN | White Cliff Min Ltd | -5% | -22% | -25% | 38% | 0.018 | $14,204,464 |
| AOU | Auroch Minerals Ltd | -5% | -24% | -50% | -66% | 0.052 | $19,297,814 |
| WC1 | Westcobarmetals | -6% | -36% | 31% | -8% | 0.17 | $11,857,513 |
| PLL | Piedmont Lithium Inc | -6% | 6% | -2% | 2% | 0.905 | $495,916,552 |
| CZN | Corazon Ltd | -6% | 0% | -43% | -53% | 0.016 | $9,154,958 |
| CMO | Cosmometalslimited | -6% | 7% | -6% | 0% | 0.15 | $3,698,950 |
| STM | Sunstone Metals Ltd | -6% | -9% | -52% | -58% | 0.03 | $81,109,839 |
| BCA | Black Canyon Limited | -6% | 0% | -30% | -17% | 0.225 | $10,313,769 |
| RFR | Rafaella Resources | -7% | 20% | -11% | -48% | 0.042 | $15,821,652 |
| TEM | Tempest Minerals | -7% | -25% | -64% | -4% | 0.027 | $14,638,219 |
| FRB | Firebird Metals | -7% | 14% | -29% | -53% | 0.2 | $13,404,501 |
| NVX | Novonix Limited | -7% | 34% | -46% | -71% | 2.49 | $1,260,500,951 |
| QEM | QEM Limited | -8% | -18% | -23% | 0% | 0.185 | $24,497,015 |
| HRE | Heavy Rare Earths | -8% | -20% | 0% | 0% | 0.1525 | $10,112,948 |
| AML | Aeon Metals Ltd. | -8% | -14% | -47% | -53% | 0.024 | $27,335,769 |
| JMS | Jupiter Mines. | -8% | -5% | -23% | -14% | 0.18 | $362,413,341 |
| ENV | Enova Mining Limited | -8% | -14% | -40% | -43% | 0.012 | $4,691,152 |
| COB | Cobalt Blue Ltd | -8% | -21% | -23% | 40% | 0.59 | $198,363,202 |
| LPD | Lepidico Ltd | -8% | -20% | -43% | -57% | 0.0175 | $122,076,261 |
| M24 | Mamba Exploration | -8% | -21% | -10% | -41% | 0.115 | $5,061,000 |
| ASN | Anson Resources Ltd | -8% | -7% | 148% | 97% | 0.285 | $346,888,731 |
| ASO | Aston Minerals Ltd | -8% | -17% | -51% | -43% | 0.068 | $80,174,227 |
| RLC | Reedy Lagoon Corp. | -8% | -21% | -62% | -76% | 0.011 | $6,131,696 |
| DRE | Dreadnought Resources Ltd | -9% | 7% | 150% | 169% | 0.105 | $305,271,155 |
| AM7 | Arcadia Minerals | -9% | -12% | 11% | -10% | 0.26 | $12,141,452 |
| GRL | Godolphin Resources | -9% | -7% | -37% | -43% | 0.082 | $10,653,250 |
| BSX | Blackstone Ltd | -9% | -26% | -55% | -75% | 0.145 | $75,716,036 |
| KTA | Krakatoa Resources | -9% | -19% | -39% | -8% | 0.058 | $20,854,950 |
| VRC | Volt Resources Ltd | -10% | -34% | 0% | -32% | 0.019 | $64,293,498 |
| SRI | Sipa Resources Ltd | -10% | 2% | 5% | -16% | 0.046 | $10,046,215 |
| SBR | Sabre Resources | -10% | -36% | -10% | -25% | 0.0045 | $11,659,424 |
| 1MC | Morella Corporation | -10% | -18% | -42% | -72% | 0.018 | $110,229,560 |
| GRE | Greentechmetals | -10% | -13% | -27% | 0% | 0.135 | $4,682,050 |
| PTR | Petratherm Ltd | -10% | -32% | -46% | -2% | 0.054 | $12,361,313 |
| RAG | Ragnar Metals Ltd | -11% | -37% | -60% | -62% | 0.017 | $6,446,143 |
| ASM | Ausstratmaterials | -11% | -19% | -70% | -86% | 1.765 | $251,602,669 |
| CMX | Chemxmaterials | -11% | -16% | -30% | 0% | 0.16 | $7,498,580 |
| G88 | Golden Mile Res Ltd | -12% | -21% | -58% | -58% | 0.022 | $4,500,975 |
| CZL | Cons Zinc Ltd | -12% | 13% | -8% | -37% | 0.022 | $10,647,193 |
| STK | Strickland Metals | -12% | 10% | -48% | -51% | 0.043 | $63,223,688 |
| AKN | Auking Mining Ltd | -13% | 11% | -19% | -47% | 0.105 | $11,908,534 |
| NKL | Nickelxltd | -13% | -18% | -10% | 4% | 0.135 | $10,569,441 |
| IDA | Indiana Resources | -13% | -8% | -17% | -16% | 0.053 | $25,906,655 |
| CNJ | Conico Ltd | -15% | -45% | -8% | -71% | 0.011 | $16,732,133 |
| MTM | Mtmongerresources | -17% | -23% | -43% | -33% | 0.1 | $3,751,003 |
| CLA | Celsius Resource Ltd | -19% | -30% | -48% | -60% | 0.0105 | $15,028,290 |
| CLZ | Classic Min Ltd | -22% | -26% | -91% | -91% | 0.0125 | $8,836,600 |
| DM1 | Desert Metals | -27% | -33% | -14% | 18% | 0.3 | $15,837,300 |
| TSC | Twenty Seven Co. Ltd | -50% | -60% | -64% | -71% | 0.001 | $7,982,442 |
| WA1 | WA1 Resources | -6% | 1273% | 1044% | 724% | 2.06 | $59,810,000 |
Weekly Small Cap Standouts
Last month it was WA1 Resources (ASX:WA1) firing up punters with a large potential discovery; now it is OD6’s turn.
Last week OD6 announced “some of the highest grades and thickest clay-hosted rare earth intersections seen in Australia”.
The first 65 holes of a completed 179-hole program at Splinter Rock in WA returned grades up to 6,729ppm total rare earths oxides (TREO) across four significant prospects, each 4-7km long and 10m-80m thick.
Assays contain large proportions of magnet rare earths, high value NdPr and heavy REEs.
“The extent and consistency of these shallow, high-grade clays have resulted in four significant prospects being identified that are between four and seven kilometres in width which are open in length, on our 2,579km2 Splinter Rock project,” OD6 managing director Brett Hazelden says.
“Importantly, these drill results validate historic assays, plus they extend the discovery of clay-hosted rare earths across a new drill line perpendicular to the original line.
“This bodes well for future drilling, which we anticipate will significantly grow the known mineralised area.”
Splinter Rock could be a world class asset, Hazelden says.
“The scale of these clays is hard to comprehend when you start talking multiple kilometres in one direction at a thickness of between 10 to 30m,” he says.
“The potential is massive.”
It’s also 1VG’s turn. The explorer says its ionic clay rare earths discovery at North Stanmore is “developing into a project of significant scale”.
The stock listed mid-2021 with a collection of 52 historic gold mines in the Cue region of WA, but soon diversified into lithium, IOCG (iron oxide copper gold) and rare earths exploration.
It completed the pivot to ‘mostly rare earths explorer’ after announcing a ‘high value critical rare earth element discovery’ at North Stanmore (also near Cue) in July this year.
New assay results from a recently completed 118-hole AC drill program confirm REE paydirt ~4km from this initial discovery.
Notable hits include 16m at 2155ppm TREO from 21m, including:
- 6m at 4683ppm TREO,
- 2m at 9681ppm TREO, and
- 1m at 9746ppm TREO from 21m.
That’s high grade for a clay deposit, which is open in all directions. A new 10,000m drilling program will kick off “immediately”.
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