Galan Lithium led lithium stocks that dominated the ranks of the best performing battery metal stocks in November though nickel companies also found favour with investors.

Interest in battery metal stocks was strong enough that all save a few companies outperformed the broader market, which itself experienced strong gains of about 10 per cent in November.

Part of this is due to an apparent stabilisation in demand for lithium along with the increased interest in electric vehicles (EVs) as demonstrated by the growing numbers of new EV models in the market.

Here are the top 50 battery metal stocks for November:

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CODE COMPANY NOVEMBER RETURN % 1 YEAR RETURN % SHARE PRICE MARKET CAP
GLN Galan Lithium Ltd 152 97 0.315 $66.5M
AZS Azure Minerals 139 617 0.86 $223.5M
MAN Mandrake Res Ltd 96 633 0.11 $31.8M
PUR Pursuit Minerals 83 237 0.022 $10.6M
INF Infinity Lithium 80 153 0.16 $46.5M
VUL Vulcan Energy 74 1340 2.16 $172.7M
PLS Pilbara Min Ltd 74 143 0.73 $1.7B
CXO Core Lithium 67 114 0.077 $71.6M
EMH European Metals Hldg 64 148 0.77 $92.4M
TLG Talga Group Ltd 61 301 1.81 $510.3M
FGR First Graphene Ltd 61 58 0.225 $128.8M
BKT Black Rock Mining 57 69 0.085 $58.8M
LPI Lithium Pwr Int Ltd 56 10 0.28 $73.6M
ORE Orocobre Limited 55 58 3.97 $1.4B
INR Ioneer Ltd 54 35 0.27 $480.3M
LKE Lake Resources 53 180 0.084 $70.3M
CLA Celsius Resource Ltd 52 262 0.047 $35.9M
SBR Sabre Resources 50 250 0.0105 $13.8M
GXY Galaxy Resources 47 122 2.03 $880.4M
AGY Argosy Minerals Ltd 44 -12 0.072 $74.4M
CHN Chalice Gold Mines 41 2147 3.82 $1.2B
GME GME Resources Ltd 39 6 0.057 $31.7M
AVL Aust Vanadium Ltd 36 50 0.015 $39.5M
BSM Bass Metals Ltd 33 -43 0.004 $16.0M
DEV Devex Resources Ltd 32 263 0.29 $77.5M
JRV Jervois Mining 31 87 0.355 $258.7M
PRL Province Resources 31 183 0.015 $8.6M
EUR European Lithium Ltd 31 -43 0.047 $34.1M
MIN Mineral Resources. 27 103 31.6 $6.1B
PAN Panoramic Resources 26 -53 0.1325 $276.9M
NMT Neometals Ltd 24 34 0.235 $128.2M
PSC Prospect Res Ltd 21 24 0.145 $48.2M
AXE Archer Materials 20 315 0.54 $223.7M
AVZ AVZ Minerals Ltd 18 112 0.091 $268.2M
RLC Reedy Lagoon Corp. 18 333 0.013 $6.1M
NIC Nickel Mines Limited 17 73 1.05 $2.2B
CNJ Conico Ltd 17 169 0.035 $25.3M
BHP BHP Group Limited 16 2 39.14 $113.5B
PLL Piedmont Lithium Ltd 16 252 0.37 $540.6M
OZL OZ Minerals 14 61 17 $5.5B
MLX Metals X Limited 14 -19 0.089 $78.0M
LIT Lithium Australia NL 14 68 0.057 $45.2M
EGR Ecograf Limited 13 79 0.17 $61.9M
EGR Ecograf Limited 13 79 0.17 $61.9M
LTR Liontown Resources 13 187 0.27 $484.6M
QPM Queensland Pacific 11 117 0.039 $35.1M
CTM Centaurus Metals Ltd 11 183 0.595 $187.4M
MRC Mineral Commodities 9 40 0.35 $164.2M
BOA Boadicea Resources 9 31 0.24 $14.8M
IGO IGO Limited 9 -18 4.82 $2.8B

 

Galan Lithium and nickel play take the top two spots

South American lithium brines play Galan Lithium (ASX:GLN) was the best performing battery metals company in November with a 152 per cent gain.

This is thanks in no small part to a recent upgrade taking its overall resource up to 3 million tonnes of lithium carbonate equivalent (LCE) at 858 mg/l Li, the third largest in Argentina’s Hombre Muerto salt flat basin.

Nipping at its heels with a 139 per cent increase is Pilbara-focused nickel explorer Azure Minerals (ASX:AZS), which has been intersecting massive nickel sulphides at its Andover project.

Investors clearly liked what they were seeing, committing to a $37m placement at a 26.3 per cent premium to the 30-day volume weighted average price.

The Julimar connection

The next two companies on our battery metals list owe their big gains to their proximity to Chalice Gold Mines’ (ASX:CHN) exciting Julimar nickel-copper-platinum group element (PGE) discovery, where drilling in mid-November hit thick, high-grade mineralisation.

Mandrake Resources (ASX:MAN) acquired the Jimperding project about 30km east of Julimar back in October while Pursuit Minerals’ (ASX:PUR) acquisition of the Yilgarn Warrior PGE-nickel-copper project comes right at the beginning of December after entering a trading halt last week.

Chalice, which has also made the list of gainers, intersected thick high-grade PGE-copper-gold at the Gonneville Intrusion footwall contact within Julimar in the middle of November.

Lithium maintains battery metals dominance

Many of the other big gainers on our battery metals list are also lithium focused.

Vulcan Energy (ASX:VUL) took out the seventh place after increasing indicated resources at its Taro licence in the Upper Rhine Valley, Germany, to 0.83Mt contained LCE at 181mg/l Li.

This takes its overall Rhine Valley project inferred and indicated resource up to 16.19Mt LCE at 181mg/l Li, giving the company the potential to become a major supplier of lithium carbonate.

Post-November, Pilbara Minerals (ASX:PLS) has moved on from talks with the administrators of Altura Mining (ASX:AJM) to reaching an agreement to acquire the company for $US175m.

The prize is the Pilgangoora lithium project, which given its location right next to its own project, is expected to unlocked synergies in the short and long term.