BloombergNEF says demand for EVs is still going strong in 2024
New report flags more battery supply chain investment needed
LFP batteries expected to cut demand for nickel and manganese
Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.
Automakers are softening previous electrification targets, often quoting their inability to manufacture EVs at as low a cost as internal-combustion cars.
But while sales are “only” forecast to grow this year by 21% this year (down from 62% in 2022 and 31% in 2023), demand for EVs is still going strong according to BloombergNEF’s Long-Term Electric Vehicle Outlook.
The report indicates that rapidly falling battery prices, advancements in next-generation battery technology and improving economics of electric vehicles continue to underpin long-term EV growth globally – good news for battery metals.
“Several next-generation battery technologies are reaching commercialisation in the next few years and prices have fallen by 90% over the past decade,” the report notes.
“This trend looks set to continue, with early indications that prices are dropping sharply in 2024 due to lower raw-material prices, manufacturing advances, and overcapacity.”
BloombergNEF points out what industry experts like Benchmark Minerals Intelligence Boss man Simon Moores has been saying for ages – large investments are needed in all areas of the battery supply chain.
“At least US$35 billion needs to be invested in battery-cell and component plants by the end of the decade, which is easily exceeded by the US$155 billion already planned by companies,” the report said.
LFP batteries bump off nickel and manganese demand
The report also notes that lithium-iron-phosphate batteries are taking over the EV market, expected to reach more than 50% of global passenger EV sales within the next two years. That will reduce demand growth for metals like nickel and manganese.
“Nickel and manganese are among the biggest losers from the advancements in LFP batteries,” BloombergNEF says.
“Nickel consumption in lithium-ion batteries reaches 517,000 metric tonnes in 2025, while manganese reaches 131,000 metric tonnes.
“These are 25% and 38% lower than our previous estimates in EVO 2023 for nickel and manganese, respectively, due to the shift toward lower-cost chemistries.”
Graph: Annual metals demand from lithium-ion batteries under the Net Zero Scenario. Source: BloombergNEF
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>>>
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:
CODE COMPANY PRICE WEEK RETURN % MONTH RETURN % 6 MONTH RETURN %% YEAR RETURN % MARKET CAP KOR Korab Resources 0.009 80% 29% -44% -59% $3,303,450 RIL Redivium Limited 0.003 50% 0% -40% -73% $8,192,564 ODE Odessa Minerals Ltd 0.004 33% 0% -43% -71% $4,173,130 BUR Burleyminerals 0.145 32% 7% -6% -28% $21,803,787 HRE Heavy Rare Earths 0.035 30% 0% -45% -63% $2,117,078 CLA Celsius Resource Ltd 0.014 27% 40% 8% -42% $31,562,866 KTA Krakatoa Resources 0.014 27% -18% -61% -33% $6,609,501 KNI Kunikolimited 0.225 25% 2% -27% -49% $18,655,393 VTM Victory Metals Ltd 0.34 24% 15% 58% 55% $31,539,519 PTR Petratherm Ltd 0.019 19% -27% -44% -76% $4,495,023 PNN Power Minerals Ltd 0.13 18% 0% -40% -66% $12,038,655 NVX Novonix Limited 0.76 17% -6% 16% -19% $386,300,936 BKT Black Rock Mining 0.0595 17% -7% -27% -46% $66,319,884 MOH Moho Resources 0.004 14% 0% -64% -60% $2,156,713 BOA Boadicea Resources 0.024 14% -14% -31% -57% $2,837,115 PGM Platina Resources 0.025 14% 0% 19% 4% $14,333,148 ARR American Rare Earths 0.255 13% -6% 82% 104% $120,888,708 GSM Golden State Mining 0.01 11% -9% -33% -79% $2,793,706 MTM MTM Critical Metals 0.04 11% -17% -17% -62% $11,525,381 NWM Norwest Minerals 0.03 11% -21% 11% -6% $11,643,585 SRZ Stellar Resources 0.02 11% -5% 150% 100% $38,835,036 INR Ioneer Ltd 0.155 11% -31% 15% -52% $372,098,353 DYM Dynamicmetalslimited 0.155 11% -11% 11% -49% $5,580,000 ARN Aldoro Resources 0.073 11% -4% -11% -34% $9,827,533 SYA Sayona Mining Ltd 0.0375 10% -11% -41% -79% $360,265,360 PFE Panteraminerals 0.033 10% -33% -37% -65% $11,938,884 EUR European Lithium Ltd 0.056 10% 19% -22% -44% $76,896,745 LRV Larvottoresources 0.105 9% 5% 40% -18% $27,530,614 G88 Golden Mile Res Ltd 0.012 9% -8% -29% -75% $4,934,674 BC8 Black Cat Syndicate 0.3 9% -6% 18% -15% $113,361,066 MMC Mitremining 0.8 8% 2% 214% 167% $92,949,323 1AE Auroraenergymetals 0.069 8% -16% -31% 15% $12,355,398 NC1 Nicoresourceslimited 0.14 8% -7% -58% -71% $13,681,322 IG6 Internationalgraphit 0.084 8% -24% -46% -57% $13,936,200 LMG Latrobe Magnesium 0.045 7% -19% -22% -15% $100,823,855 LU7 Lithium Universe Ltd 0.015 7% -17% -56% -50% $7,093,990 JMS Jupiter Mines. 0.31 7% -3% 88% 51% $607,601,649 TKM Trek Metals Ltd 0.033 6% -21% -18% -55% $16,944,604 MLX Metals X Limited 0.42 6% -9% 50% 62% $376,079,668 FGR First Graphene Ltd 0.054 6% -7% -23% -19% $35,599,593 CXO Core Lithium 0.093 6% -36% -64% -90% $192,324,199 SUM Summitminerals 0.465 6% 116% 323% 288% $27,876,978 TLG Talga Group Ltd 0.59 5% -18% -24% -58% $224,054,961 COB Cobalt Blue Ltd 0.083 5% -11% -63% -65% $31,630,621 DTM Dart Mining NL 0.021 5% -22% 31% -48% $5,427,090 VHM Vhmlimited 0.42 5% -12% -40% -36% $64,764,117 LIN Lindian Resources 0.11 5% -12% -29% -65% $126,821,446 PVW PVW Res Ltd 0.023 5% -8% -52% -66% $2,332,310 DLI Delta Lithium 0.235 4% -22% -48% -73% $156,949,571 EMC Everest Metals Corp 0.125 4% -11% 52% -17% $19,713,973 ILU Iluka Resources 6.6 4% -12% -1% -41% $2,815,805,917 QEM QEM Limited 0.145 4% -3% -26% -28% $21,951,798 RNU Renascor Res Ltd 0.089 3% -23% -26% -49% $231,266,536 JLL Jindalee Lithium Ltd 0.31 3% -47% -63% -83% $19,356,837 EMS Eastern Metals 0.031 3% -38% -6% -40% $3,063,614 MEK Meeka Metals Limited 0.032 3% -14% -20% -6% $40,745,395 ARU Arafura Rare Earths 0.175 3% -10% 9% -44% $404,302,884 CHN Chalice Mining Ltd 1.365 3% -19% -18% -79% $523,155,644 AXN Alliance Nickel Ltd 0.039 3% -9% -11% -59% $29,033,585 IDA Indiana Resources 0.08 3% 3% 25% 67% $50,749,702 CMO Cosmometalslimited 0.048 2% 14% -16% -44% $6,151,512 EMH European Metals Hldg 0.265 2% -33% -45% -72% $54,972,847 LTM Arcadium Lithium PLC 5.155 2% -25% -49% 0% $1,889,078,472 TVN Tivan Limited 0.073 1% 43% 16% -1% $125,092,126 HAS Hastings Tech Met 0.2775 1% 11% -62% -76% $50,267,198 BHP BHP Group Limited 43.12 1% -3% -13% -3% $219,800,145,609 S32 South32 Limited 3.69 1% -4% 14% -1% $16,667,671,530 PLS Pilbara Min Ltd 3.235 0% -18% -16% -33% $9,721,398,707 IPX Iperionx Limited 1.9925 0% -8% 49% 85% $514,489,518 PSC Prospect Res Ltd 0.16 0% -20% 80% 14% $76,588,782 PAM Pan Asia Metals 0.16 0% 0% 28% -27% $29,436,781 NWC New World Resources 0.031 0% -23% -18% 3% $85,068,452 GSR Greenstone Resources 0.011 0% -8% 69% -27% $15,761,980 LPD Lepidico Ltd 0.002 0% -43% -74% -81% $17,178,239 MRD Mount Ridley Mines 0.001 0% -33% -50% -60% $7,784,883 RLC Reedy Lagoon Corp. 0.003 0% -25% -40% -38% $1,858,622 HXG Hexagon Energy 0.011 0% -39% -8% 0% $5,642,075 MNS Magnis Energy Tech 0.042 0% 0% 0% -69% $50,378,922 IXR Ionic Rare Earths 0.011 0% -8% -50% -52% $53,144,312 EVG Evion Group NL 0.018 0% -25% -49% -54% $6,227,265 TKL Traka Resources 0.0015 0% -25% -50% -73% $1,750,659 PAN Panoramic Resources 0.035 0% 0% 0% -65% $103,937,992 PRL Province Resources 0.041 0% 0% 0% 0% $48,441,219 LIT Lithium Australia 0.02 0% -26% -33% -33% $22,001,250 ADD Adavale Resource Ltd 0.004 0% -20% -43% -84% $4,161,061 AVL Aust Vanadium Ltd 0.015 0% -12% -25% -53% $129,157,547 AUZ Australian Mines Ltd 0.008 0% -20% -20% -43% $9,789,585 ATM Aneka Tambang 1.07 0% -1% -9% 0% $1,394,904 RMX Red Mount Min Ltd 0.001 0% 0% -62% -71% $3,423,577 GW1 Greenwing Resources 0.05 0% -29% -57% -74% $8,518,820 MRC Mineral Commodities 0.021 0% -5% -34% -58% $20,673,925 PUR Pursuit Minerals 0.003 0% -33% -60% -78% $10,906,200 LEG Legend Mining 0.012 0% -20% -25% -75% $34,895,726 AML Aeon Metals Ltd. 0.006 0% -33% -33% -65% $6,578,404 WKT Walkabout Resources 0.115 0% -8% -12% 17% $77,195,067 CNJ Conico Ltd 0.001 0% 0% -80% -86% $3,610,291 LSR Lodestar Minerals 0.0015 0% -6% -53% -58% $3,035,096 RAG Ragnar Metals Ltd 0.017 0% 6% -29% -36% $8,531,657 CTN Catalina Resources 0.003 0% -25% -25% 0% $3,715,461 TEM Tempest Minerals 0.008 0% -7% 5% -53% $4,152,995 KGD Kula Gold Limited 0.01 0% 11% -33% -47% $6,182,119 ENT Enterprise Metals 0.004 0% -20% 0% 33% $3,538,884 GCM Green Critical Min 0.004 0% 33% -60% -73% $4,546,340 PNT Panthermetalsltd 0.029 0% -40% -52% -64% $2,527,819 WMG Western Mines 0.345 0% 3% 35% -31% $25,843,802 AVW Avira Resources Ltd 0.001 0% 0% -50% -50% $2,663,790 RAS Ragusa Minerals Ltd 0.016 0% -20% -52% -76% $2,424,179 TAR Taruga Minerals 0.007 0% -13% -42% -36% $4,942,187 AOA Ausmon Resorces 0.0025 0% 0% -17% -38% $2,647,498 GRL Godolphin Resources 0.019 0% -27% -53% -67% $4,063,933 PBL Parabellumresources 0.04 0% -2% -43% -88% $2,492,000 OM1 Omnia Metals Group 0.078 0% 0% 0% -65% $4,550,568 LLL Leolithiumlimited 0.505 0% 0% 0% -53% $605,079,142 SRN Surefire Rescs NL 0.008 0% -16% -11% -43% $15,890,463 WSR Westar Resources 0.01 0% 0% -41% -82% $2,600,642 TMX Terrain Minerals 0.003 0% -14% -40% -50% $4,295,012 MHC Manhattan Corp Ltd 0.002 0% 0% -50% -71% $4,405,470 ASR Asra Minerals Ltd 0.004 0% -43% -50% -50% $8,144,317 IGO IGO Limited 5.945 -1% -19% -34% -59% $4,475,452,775 GT1 Greentechnology 0.077 -1% -23% -69% -89% $24,453,159 L1M Lightning Minerals 0.07 -1% -13% -50% -55% $6,601,633 EMN Euromanganese 0.068 -1% -12% -32% -59% $14,889,717 WC8 Wildcat Resources 0.34 -1% -32% -51% 183% $416,264,683 LYC Lynas Rare Earths 5.97 -1% -10% -15% -14% $5,589,614,746 KOB Kobaresourceslimited 0.1425 -2% -5% 78% -5% $23,784,242 EG1 Evergreenlithium 0.054 -2% -43% -72% -85% $3,317,570 ASN Anson Resources Ltd 0.1025 -2% -27% -24% -32% $129,052,821 GAL Galileo Mining Ltd 0.2 -2% -26% -20% -64% $40,513,110 BNR Bulletin Res Ltd 0.04 -2% -20% -67% -31% $12,625,373 LEL Lithenergy 0.38 -3% -10% -30% -55% $42,000,588 RBX Resource B 0.034 -3% 13% -56% -82% $2,811,272 QPM Queensland Pacific 0.033 -3% -15% -35% -67% $83,187,998 BSX Blackstone Ltd 0.046 -3% -23% -32% -58% $23,639,450 MAN Mandrake Res Ltd 0.03 -3% -12% -32% -23% $18,502,798 WCN White Cliff Min Ltd 0.015 -3% -6% 67% 114% $24,365,811 KFM Kingfisher Mining 0.06 -3% -10% -63% -80% $3,222,900 OMH OM Holdings Limited 0.445 -3% -7% -1% -11% $340,984,276 PLL Piedmont Lithium Inc 0.145 -3% -34% -66% -83% $58,384,872 GRE Greentechmetals 0.14 -3% -35% -70% -73% $10,800,397 DVP Develop Global Ltd 2.12 -4% -7% -26% -35% $524,715,199 INF Infinity Lithium 0.051 -4% -9% -46% -48% $23,592,197 A8G Australasian Metals 0.075 -4% -1% -56% -46% $3,909,037 ADV Ardiden Ltd 0.125 -4% -17% -31% -58% $8,127,276 BMM Balkanminingandmin 0.05 -4% -11% -62% -73% $3,694,107 FTL Firetail Resources 0.075 -4% 68% 5% -34% $13,943,067 CNB Carnaby Resource Ltd 0.49 -4% -38% -36% -49% $89,407,368 SGQ St George Min Ltd 0.024 -4% 41% -25% -38% $24,713,511 ASM Ausstratmaterials 0.79 -4% -22% -33% -29% $135,850,169 OD6 Od6Metalsltd 0.045 -4% -29% -69% -80% $5,791,058 NKL Nickelxltd 0.022 -4% 5% -44% -66% $2,019,749 ICL Iceni Gold 0.065 -4% 5% 23% -25% $17,729,468 STK Strickland Metals 0.105 -5% -5% 22% 123% $187,922,113 PGD Peregrine Gold 0.21 -5% -28% -13% -25% $13,236,292 KZR Kalamazoo Resources 0.081 -5% -26% -23% -35% $14,389,346 NIC Nickel Industries 0.805 -5% -19% 20% -9% $3,514,364,102 KAI Kairos Minerals Ltd 0.01 -5% -13% -33% -35% $23,588,210 DM1 Desert Metals 0.02 -5% -5% -61% -66% $5,308,514 LRS Latin Resources Ltd 0.185 -5% -29% -26% -27% $517,892,601 AZI Altamin Limited 0.036 -5% -8% -31% -52% $16,676,263 FBM Future Battery 0.034 -6% -19% -53% -72% $19,868,278 GLN Galan Lithium Ltd 0.165 -6% -28% -70% -81% $80,570,479 NTU Northern Min Ltd 0.033 -6% -13% -3% 0% $200,973,294 EV1 Evolutionenergy 0.033 -6% -51% -76% -82% $10,044,632 BUX Buxton Resources Ltd 0.065 -6% -38% -63% -61% $13,261,048 SBR Sabre Resources 0.016 -6% -16% -45% -43% $5,988,191 ABX ABX Group Limited 0.047 -6% -10% -35% -55% $10,251,653 IPT Impact Minerals 0.015 -6% -21% 50% 7% $45,891,506 SCN Scorpion Minerals 0.015 -6% -29% -56% -82% $6,141,843 THR Thor Energy PLC 0.015 -6% -12% -48% -63% $3,008,376 DEV Devex Resources Ltd 0.295 -6% -21% 23% -2% $132,357,201 PMT Patriotbatterymetals 0.58 -6% -34% -46% -69% $358,581,362 CAI Calidus Resources 0.1025 -7% -21% -49% -40% $85,532,275 PAT Patriot Lithium 0.054 -7% -34% -70% -78% $5,565,347 AXE Archer Materials 0.33 -7% -26% -8% -49% $84,099,514 QXR Qx Resources Limited 0.0065 -7% -41% -74% -79% $7,770,545 LCY Legacy Iron Ore 0.013 -7% -13% -19% -38% $100,276,127 CHR Charger Metals 0.064 -7% -36% -62% -85% $4,722,635 FG1 Flynngold 0.025 -7% -26% -44% -52% $6,363,617 MIN Mineral Resources. 56.07 -7% -26% -18% -19% $11,084,815,413 NVA Nova Minerals Ltd 0.185 -8% -21% -46% -27% $40,860,807 HAW Hawthorn Resources 0.059 -8% -13% -40% -59% $19,765,921 ARL Ardea Resources Ltd 0.47 -8% -24% 0% 49% $94,849,385 CMX Chemxmaterials 0.047 -8% 4% -33% -50% $6,224,094 VMC Venus Metals Cor Ltd 0.07 -8% -22% -33% -37% $13,281,008 LTR Liontown Resources 0.92 -8% -33% -39% -68% $2,254,783,626 RON Roninresourcesltd 0.115 -8% -4% -34% -26% $4,234,876 GBR Greatbould Resources 0.057 -8% -3% -14% -22% $35,162,856 S2R S2 Resources 0.091 -8% -27% -49% -21% $41,210,077 AQD Ausquest Limited 0.011 -8% -21% 0% -27% $9,076,641 TON Triton Min Ltd 0.011 -8% -8% -50% -67% $17,252,276 MQR Marquee Resource Ltd 0.011 -8% -15% -56% -76% $4,547,228 BCA Black Canyon Limited 0.0825 -8% -31% -41% -57% $5,681,458 SYR Syrah Resources 0.3525 -8% -27% -41% -55% $351,863,200 SYR Syrah Resources 0.3525 -8% -27% -41% -55% $351,863,200 A11 Atlantic Lithium 0.365 -9% -14% -9% -39% $237,129,204 MEI Meteoric Resources 0.155 -9% -14% -37% -24% $308,468,576 RXL Rox Resources 0.1275 -9% -25% -31% -62% $52,918,741 MLS Metals Australia 0.019 -10% -14% -46% -44% $13,440,021 AKN Auking Mining Ltd 0.019 -10% -10% -56% -59% $5,041,720 CTM Centaurus Metals Ltd 0.42 -10% -11% -10% -52% $210,876,785 LOT Lotus Resources Ltd 0.325 -10% -29% 5% 86% $604,301,315 AZL Arizona Lithium Ltd 0.018 -10% -25% -44% -45% $80,528,662 CWX Carawine Resources 0.09 -10% -10% -18% -13% $21,251,290 POS Poseidon Nick Ltd 0.0045 -10% -36% -63% -88% $18,567,674 GL1 Globallith 0.27 -10% -28% -77% -82% $71,572,957 SLZ Sultan Resources Ltd 0.009 -10% -25% -60% -80% $1,778,278 ASO Aston Minerals Ltd 0.009 -10% -53% -65% -89% $12,950,643 MHK Metalhawk. 0.045 -10% -24% -65% -76% $4,530,150 NMT Neometals Ltd 0.089 -10% -23% -54% -82% $54,807,308 WR1 Winsome Resources 0.75 -10% -39% -27% -56% $166,651,500 E25 Element 25 Ltd 0.22 -10% -17% -41% -65% $46,769,022 CAE Cannindah Resources 0.052 -10% 0% -48% -66% $30,060,158 WIN Widgienickellimited 0.026 -10% -28% -72% -88% $7,978,853 LKE Lake Resources 0.043 -10% -33% -66% -85% $73,177,506 BM8 Battery Age Minerals 0.125 -11% -26% -32% -73% $12,093,138 ESR Estrella Res Ltd 0.004 -11% -11% -20% -56% $7,037,487 JRV Jervois Global Ltd 0.016 -11% 0% -62% -75% $43,244,221 MRR Minrex Resources Ltd 0.008 -11% -27% -53% -47% $9,763,808 VUL Vulcan Energy 3.76 -11% -29% 46% -1% $733,935,427 CY5 Cygnus Metals Ltd 0.046 -12% -39% -63% -81% $12,614,443 CRR Critical Resources 0.0075 -12% -38% -61% -80% $12,462,452 ETM Energy Transition 0.022 -12% -33% -42% -42% $30,897,396 TOR Torque Met 0.1275 -12% -35% -43% -2% $26,568,176 VR8 Vanadium Resources 0.057 -12% -2% 2% -24% $32,497,412 AGY Argosy Minerals Ltd 0.077 -13% -43% -41% -80% $109,194,070 WC1 Westcobarmetals 0.035 -13% -36% -54% -68% $4,402,812 FIN FIN Resources Ltd 0.007 -13% -42% -61% -46% $4,544,881 WA1 Wa1Resourcesltd 17.95 -13% -13% 45% 221% $1,097,307,552 SRI Sipa Resources Ltd 0.013 -13% -19% -48% -24% $2,966,056 REE Rarex Limited 0.013 -13% -35% -50% -65% $11,061,842 SLM Solismineralsltd 0.08 -14% -27% -50% -92% $5,945,222 AR3 Austrare 0.075 -14% -35% -50% -74% $11,070,454 LM1 Leeuwin Metals Ltd 0.05 -14% -29% -67% -86% $2,155,177 FRB Firebird Metals 0.155 -14% -21% 3% 70% $23,489,631 LML Lincoln Minerals 0.006 -14% -20% 0% -60% $12,337,129 EVR Ev Resources Ltd 0.006 -14% -33% -33% -54% $7,927,629 WML Woomera Mining Ltd 0.003 -14% -25% -88% -75% $3,654,417 LNR Lanthanein Resources 0.003 -14% -40% -73% -80% $8,552,726 LNR Lanthanein Resources 0.003 -14% -40% -73% -80% $8,552,726 REC Rechargemetals 0.03 -14% -25% -67% -91% $4,190,699 GED Golden Deeps 0.034 -15% -21% -28% -43% $3,812,238 M2R Miramar 0.008 -15% -15% -60% -79% $1,579,118 RR1 Reach Resources Ltd 0.016 -16% 7% -13% -73% $13,990,902 RR1 Reach Resources Ltd 0.016 -16% 7% -13% -73% $13,990,902 1MC Morella Corporation 0.0025 -17% -17% -58% -64% $18,536,398 EFE Eastern Resources 0.005 -17% -29% -38% -50% $6,830,706 RGL Riversgold 0.005 -17% -33% -58% -62% $6,047,884 M24 Mamba Exploration 0.015 -17% -25% -63% -79% $2,761,234 ITM Itech Minerals Ltd 0.052 -17% -32% -57% -76% $6,603,312 KM1 Kalimetalslimited 0.255 -18% -37% 0% 0% $19,848,945 LLI Loyal Lithium Ltd 0.16 -18% -36% -47% -50% $14,517,290 STM Sunstone Metals Ltd 0.009 -18% -31% -36% -55% $38,382,673 EGR Ecograf Limited 0.11 -19% -31% -19% -19% $49,943,500 VMS Venture Minerals 0.022 -19% -8% 214% 57% $49,866,953 PEK Peak Rare Earths Ltd 0.175 -19% -27% -51% -61% $50,528,934 OCN Oceanalithiumlimited 0.035 -19% -22% -71% -89% $1,676,372 PEK Peak Rare Earths Ltd 0.175 -19% -27% -51% -61% $50,528,934 SRL Sunrise 0.345 -19% -42% -23% -66% $31,128,487 AS2 Askarimetalslimited 0.043 -19% -33% -75% -85% $4,200,708 AAJ Aruma Resources Ltd 0.012 -20% -37% -54% -72% $2,362,698 EMT Emetals Limited 0.004 -20% -20% -43% -56% $3,400,000 CDT Castle Minerals 0.004 -20% -20% -53% -62% $4,647,392 ANX Anax Metals Ltd 0.024 -20% -47% -20% -63% $17,282,927 DRE Dreadnought Resources Ltd 0.021 -22% 24% -32% -60% $70,261,459 ENV Enova Mining Limited 0.0115 -23% -43% -32% 92% $11,495,152 TMB Tambourahmetals 0.052 -24% -28% -55% -45% $4,312,898 AX8 Accelerate Resources 0.034 -24% -26% -21% 89% $21,105,634 CZN Corazon Ltd 0.0045 -25% -50% -70% -72% $2,671,622 ALY Alchemy Resource Ltd 0.006 -25% -14% -40% -60% $7,068,458 YAR Yari Minerals Ltd 0.003 -25% -40% -67% -77% $1,447,073 CLZ Classic Min Ltd 0.0015 -25% -70% -97% -97% $826,543 RVT Richmond Vanadium 0.22 -27% -20% -24% -45% $18,965,717 BYH Bryah Resources Ltd 0.005 -29% -50% -64% -67% $2,612,721 PVT Pivotal Metals Ltd 0.014 -30% -36% -36% -36% $10,561,774 ZNC Zenith Minerals Ltd 0.048 -30% -33% -72% -51% $17,619,044 VRC Volt Resources Ltd 0.004 -33% -20% -33% -60% $18,714,052 VML Vital Metals Limited 0.002 -33% -43% -67% -75% $11,790,134 LPM Lithium Plus 0.165 -35% 65% -48% -37% $21,174,400 FRS Forrestaniaresources 0.033 -37% 74% 18% -57% $5,015,358 AM7 Arcadia Minerals 0.034 -37% -53% -56% -73% $4,330,854 IMI Infinitymining 0.012 -40% -73% -92% -90% $1,781,301
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KORAB RESOURCES (ASX:KOR)
Korab is gearing up for a helicopter assisted infill ground gravity survey at its Rum Jungle project in the NT, targeting several silver, gold, zinc, lead, nickel, magnesium, and copper prospects and targets defined by the company using data collected and evaluated over the past seven years.
Rum Jungle covers approximately 243 square kilometres within the Rum Jungle Mineral Field, which forms part of the Pine Creek Orogen.
Handily, the survey will undertaken in conjunction with the low-resolution ground gravity survey to be undertaken by the Northern Territory Geological Survey (NTGS) over the coming months, saving Korab the contractor mobilisation costs.
KUNIKO (ASX:KNI)
Kuniko has completed an 8-hole, 3,794 metre diamond drilling program at its Ertelien nickel-copper-cobalt project in Norway with promising assay results from the first hole of 0.83% NiEq over 15.2m from 404.5 m and 1.04% NiEq over 2.4m from 473.2 m downhole.
Assays also highlighted notable copper and gold grades up to 3.95% Cu and 2.33 g/t Au.
“The high-grade intersections and extensive disseminated sulphide zones highlight the significant potential of the Ertelien project. These results align with our strategy to expand the known resources in a near term update to the 23Mt mineral resource estimate,” CEO Antony Beckmand said.
BLACK ROCK MINING (ASX:BKT)
Black Rock has completed full form offtake agreements for large flake graphite concentrate production from the Mahenge project in Tanzania.
The company’s 84%-owned subsidiary, Faru Graphite Corporation signed the three-year deals with Muhui International Trade (Dalian) Co. Ltd (Muhui) and Qingdao Yujinxi New Material Co. Ltd (Qinqdao) for the supply of 15,000tpa of large flake concentrate (>+100 mesh) under each offtake contract (for a total of 30,000tpa).
Plus, the buyers have an option to purchase an additional 10,000tpa of any uncontracted volume under each offtake contract (for a total additional volume of 20,000tpa).
“Signing these offtake agreements represents completion of another key milestone and clearly illustrates our growing confidence that all elements required to finance and develop the Mahenge graphite project are coming together,” Black Rock CEO John de Vries said.
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