While most junior Aussie lithium stocks continued to tread water on Tuesday, there were positive signs among a handful that made double-digit gains.

Of 36 lithium-related ASX stocks tracked by Stockhead, 17 were back in the green, nine held steady, and 10 lost ground. (See table below).

Lithium stocks opened the week in the red after Chilean heavyweight SQM said it would ramp up production to meet rising demand from the electric vehicle market.

A four-to-sixfold increase in SQM’s production could force lithium into oversupply by 2020.

Some stocks were looking slightly better on Tuesday after the initial shock of the potential oversupply died down and some junior players proved they still believe in the long-term story.

Cougar Metals (ASX:CGM) was the biggest lithium gainer. Its shares climbed 20 per cent to 1.2c on news it appointed a new general manager that would help fast-track its Ceara lithium project in Brazil and shop for new projects.

Code Name Change Jan 22-23 Price Jan 23 Price Jan 22 Market Cap
MQR MARQUEE RESOURCES -0.107142857143 0.5 0.56 13440000
TAW TAWANA RESOURCES 0.0444444444444 0.47 0.45 227239856
LPI LITHIUM POWER INTERNATIONAL 0.0224719101124 0.455 0.445 116017688
MZZ MATADOR MINING LIMITED -0.025 0.39 0.4 9540001
AGY ARGOSY MINERALS 0.0405405405405 0.385 0.37 330593728
BOA BOADICEA RESOURCES 0 0.23 0.23 11263025
MTC METALSTECH -0.0212765957447 0.23 0.235 22429670
EUR EUROPEAN LITHIUM -0.0444444444444 0.215 0.225 122563016
LKE LAKE RESOURCES 0 0.205 0.205 47896820
PLL PIEDMONT LITHIUM 0 0.18 0.18 99725464
LI3 LITHIUM CONSOLIDATED MINERAL 0.0357142857143 0.145 0.14 12596097
AOU AUROCH MINERALS 0.1 0.11 0.1 8709606
DMI DEMPSEY MINERALS -0.0909090909091 0.1 0.11 4959900
SYA SAYONA MINING 0.0759493670886 0.085 0.079 116528696
SRK STRIKE RESOURCES 0 0.072 0.072 10464067
PSC PROSPECT RESOURCES 0 0.066 0.066 105872464
LPD LEPIDICO 0 0.062 0.062 178561296
NLI NOVO LITIO -0.0178571428571 0.055 0.056 20879174
KTA KRAKATOA RESOURCES 0.130434782609 0.052 0.046 4600000
PNN PEPINNINI LITHIUM 0.0212765957447 0.048 0.047 23968528
CAZ CAZALY RESOURCES -0.0212765957447 0.046 0.047 9208757
MCT METALICITY -0.0212765957447 0.046 0.047 23614638
RLC REEDY LAGOON CORP 0.0952380952381 0.046 0.042 16716642
NVA NOVA MINERALS 0 0.043 0.043 30611348
ARE ARGONAUT RESOURCES 0 0.03 0.03 36291004
ADV ARDIDEN 0.0769230769231 0.028 0.026 27208930
KSN KINGSTON RESOURCES 0.0833333333333 0.026 0.024 24224884
HNR HANNANS 0.0869565217391 0.025 0.023 45451268
JDR JADAR LITHIUM 0 0.025 0.025 9738264
PM1 PURE MINERALS 0 0.023 0.023 6224468.5
ESR ESTRELLA RESOURCES 0 0.023 0.023 9873516
PSM PENINSULA MINES 0 0.015 0.015 10427079
CHK COHIBA MINERALS 0 0.013 0.013 5667318.5
CGM COUGAR METALS 0.2 0.012 0.01 9178027
DTM DART MINING -0.0909090909091 0.01 0.011 6989407
ADN ANDROMEDA METALS 0.142857142857 0.008 0.007 6244193.5

Price changes for ASX-listed lithium stocks Jan 22-23

Krakatoa Resources (ASX:KTA) and Hannans (ASX:HNR), both jumped more than 13 per cent to 0.6c and 0.3c, respectively, on no news.

Sayona Mining (ASX:SYA) gained as much as 11.4 per cent after it revealed it had secured an option to acquire 12,000 hectares of lithium-prospective tenements in Quebec, Canada. By the closing bell it had edged back to 8.5c.

Sayona has had a good run in recent months, with its share price hitting a new 52-week high of 12c earlier in January.

Lithium is among the favoured battery metals, with demand driven by electronics and the electric vehicle uprising that is forecast to reach over 500 million vehicles by 2040 from 2 million currently.