High Voltage: Nickel down in dumps, but PLS throws lithium narrative a bone

Aussie nickel industry continues a tumultuous ride as First Quantum pulls pin on Ravensthorpe mining operation
Expert outlook for nickel more broadly? Modestly crap. Righto, could be worse…
Hang on, Pilbara Minerals might’ve just given lithium investors a reason to believe

It’s not been an amazing end of year/start to the new one for one of the most widely used metals, nickel.

Amid a plummeting price over the past year (down about 41% to US$15,961 per tonne) there is little optimism amongst Aussie nickel investors right now, especially as analysts predict surplus issues that might last until 2025, or longer.

It is already having an impact, with a falling nickel price taking the scalp of WA producer Panoramic Resources (ASX:PAN) last month.

This week, beleaguered Canadian mining company First Quantum made the decision this week to halt production at its Ravensthorpe nickel and cobalt operation in WA, with a three-year plan to scale out of mining activity at the site it bought from BHP back in 2009.

That suggests the company believes the nickel price slump has a ways to run yet.

The company said earlier this week that it will continue to process stockpiled ore through its atmospheric leach circuit, but will shut down Ravensthorpe’s high pressure acid leach processing plant.

This puts about a third of the company’s internal workforce likely out of a job – roughly 420 people.

With the mining operation registering a US$28m operating loss in nine months to the end of September 2023, (per the company’s September quarter report), the writing was definitely on the wall.

Nickel was worth almost double the price roughly this time a year ago – so this is the major factor at play formed by an oversupply of the raw material (similar to lithium’s 2023 plight) despite perceived long-term demand from the EV battery market.

In nickel’s case this overstocking is reportedly largely thanks to a supply surge from Indonesia, the world’s largest nickel producer.

Okay… grim. But what’s the further outlook?

In a Fastmarkets report published this week complied by analyst Dylan Duan, the commodity price reporting agency says the impact of nickel oversupply will continue to be felt in 2024, “according to sources”.

But the, er, less crap news is this:

“With bearish sentiment continuing to dominate the Class-1 nickel market, market participants, however, expect the downward move in 2024 to look ‘more modest’ than that in 2023.”

Every cloud has a nickel lining? Something like that.

Some further sorta good news here:

“Due to the current nickel price being too low to be profitable for producers, market participants expect the ramp up of domestic refining capacity in 2024 to be much slower than that of 2023, sources said.”

Thus…

“From a fundamental standpoint, while we forecast a surplus in the nickel market for 2024, it is expected to be less pronounced than the surplus in 2023. This represents a positive development in terms of the rate of change,” Fastmarkets analyst Boris Mikanikrezai said.

Meanwhile, how’s lithium looking?

Global pricing for lithium products aren’t looking much better than the last time we took a look at the Lithium Price Bot in this column:

2024-01-17#Lithium Carbonate 99.5% Min China Spot

Price: $13,403.85
1 day: $0.00 (0.0)
YTD: -2.03%#Spodumene Concentrate (6%, CIF China)

Price: $1,005.00
1 day: $-6.0 (-0.59)
YTD: -23.57%

Sponsored by @SiennaResources $SIE $SNNAF https://t.co/ZeY6MK1XDM

— Lithium Price Bot (@LithiumPriceBot) January 17, 2024

But, just yesterday at least, bottom pondering was still evident from at least one source we noticed – lithium economics analyst Juan Carlos Zuleta…

2/ 1) Here we go again. As expected, a new slight #lithium carbonate price rebound took place today in the Chinese spot market. 2) But the upward price trend pressure was felt in the rest of the market as well. 3) We are closer than ever to a general price rebound.

— Juan Carlos Zuleta (@jczuleta) January 16, 2024

Meanwhile, Pilbara Minerals (ASX:PLS) has gone and done something interesting this week, announcing it’s signed a new deal that could almost triple its sales to China’s Ganfeng Lithium.

Per Stockhead‘s Josh Chiat:

Pilbara Minerals has shown China remains hungry for lithium raw materials despite cratering spodumene prices that could put rival operators on their knees.

Pilbara Minerals says it will sell up to 310,000tpa of spodumene concentrate to China’s Ganfeng Lithium from 2024-2026 under a long term supply agreement on top of the 160,000tpa it supplies annually as per a deal written up in 2017.

Pegged to market pricing, which is down around 80% in the past year, PLS will supply another 150,000t in 2024 and optionally 100,000t or 150,000t extra in each of 2025 and 2026.

It comes with PLS expecting to ramp up from a 580,000tpa capacity last year to 680,000tpa later this year and 1Mtpa by September 2025 at its Pilgangoora mine in the Pilbara.

PLS MD Dale Henderson told investors the demand profile for its concentrate from the EV battery supply chain remains strong.

“This increased supply with Ganfeng builds on our established partnership as we work together to further extend our position in the growing market for lithium products,” PLS MD Dale Henderson told investors.

“This increase demonstrates the demand for Pilbara Minerals’ spodumene concentrate while preserving optionality for the company as we assess long-term downstream opportunities in-line with our growth strategy,” he said, adding:

“The long-term outlook for the industry remains incredibly exciting. Both Ganfeng and Pilbara Minerals remain focused on extending our respective positions as major, low-cost producers in the burgeoning lithium market.”

PLS is expected to make a call this quarter on a partnering process on a downstream processing initiative incorporating 300,000t of concentrate from its expanded 1Mtpa project.

ASX battery metals form guide:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at 5pm Jan 16.)

Stocks missing from this list? Email [email protected]

Code Company Price % Week % Month % Year Market Cap PVW PVW Res Ltd 0.045 2% -15% -59% $4,563,215 A8G Australasian Metals 0.14 -7% -7% -32% $7,296,869 INF Infinity Lithium 0.096 0% -6% -23% $44,408,841 LPI Lithium Pwr Int Ltd 0.555 0% 3% 16% $355,493,683 PSC Prospect Res Ltd 0.085 -2% 2% -32% $39,383,217 PAM Pan Asia Metals 0.17 6% 31% -57% $28,528,852 CXO Core Lithium 0.21 8% -31% -80% $448,756,464 LOT Lotus Resources Ltd 0.34 13% 15% 42% $586,340,505 AGY Argosy Minerals Ltd 0.11 -12% -12% -83% $154,484,825 AZS Azure Minerals 3.67 0% 1% 1123% $1,683,354,040 NWC New World Resources 0.042 -5% 5% 0% $95,276,666 QXR Qx Resources Limited 0.021 -9% -16% -59% $23,311,635 GSR Greenstone Resources 0.009 -10% 29% -71% $12,313,021 CAE Cannindah Resources 0.089 -4% -2% -61% $51,449,116 AZL Arizona Lithium Ltd 0.026 -7% -33% -61% $97,678,643 RIL Redivium Limited 0.005 0% -17% -71% $13,654,274 COB Cobalt Blue Ltd 0.215 -4% -4% -65% $80,798,508 LPD Lepidico Ltd 0.008 0% 0% -53% $61,106,464 MRD Mount Ridley Mines 0.001 -50% -50% -80% $7,784,883 CZN Corazon Ltd 0.014 -7% 0% -30% $8,618,371 LKE Lake Resources 0.11 -8% -15% -86% $156,468,918 DEV Devex Resources Ltd 0.295 7% 23% -2% $130,151,248 INR Ioneer Ltd 0.135 4% 17% -75% $285,040,640 AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,203 MAN Mandrake Res Ltd 0.038 0% -14% -17% $23,398,877 RLC Reedy Lagoon Corp. 0.005 0% 0% -53% $3,097,704 GBR Greatbould Resources 0.06 -9% -10% -32% $35,921,232 FRS Forrestaniaresources 0.036 20% 16% -78% $5,824,287 STK Strickland Metals 0.105 -16% -34% 163% $171,489,270 MLX Metals X Limited 0.27 2% -4% -39% $244,961,838 CLA Celsius Resource Ltd 0.011 -8% -21% -45% $24,706,568 FGR First Graphene Ltd 0.066 -1% -3% -34% $43,358,814 HXG Hexagon Energy 0.01 -17% -9% -44% $5,129,159 TLG Talga Group Ltd 0.65 -11% -14% -61% $246,840,212 MNS Magnis Energy Tech 0.042 0% 0% -90% $50,378,922 PLL Piedmont Lithium Inc 0.335 -12% -26% -61% $129,279,348 EUR European Lithium Ltd 0.093 8% 41% 8% $129,664,243 BKT Black Rock Mining 0.076 -4% -8% -48% $83,396,293 QEM QEM Limited 0.2 0% 8% 8% $30,278,342 LYC Lynas Rare Earths 6.18 -6% -7% -28% $5,776,410,996 ESR Estrella Res Ltd 0.004 -20% -33% -78% $7,037,487 ARL Ardea Resources Ltd 0.45 -4% -7% -45% $88,657,612 GLN Galan Lithium Ltd 0.59 -12% 4% -50% $208,548,645 JLL Jindalee Lithium Ltd 1.055 10% 29% -43% $63,817,073 VUL Vulcan Energy 2.14 -9% -15% -70% $368,236,237 SBR Sabre Resources 0.028 -3% -3% -42% $10,138,485 CHN Chalice Mining Ltd 1.135 -13% -35% -83% $441,473,350 VRC Volt Resources Ltd 0.007 17% 0% -53% $28,910,747 NMT Neometals Ltd 0.185 6% 0% -79% $115,197,708 AXN Alliance Nickel Ltd 0.044 10% 13% -57% $31,936,943 PNN Power Minerals Ltd 0.195 -5% -11% -65% $17,038,340 IGO IGO Limited 7.45 -12% -16% -49% $5,641,645,207 GED Golden Deeps 0.041 -9% -9% -59% $4,736,416 ADV Ardiden Ltd 0.17 -6% 3% -51% $10,627,976 SRI Sipa Resources Ltd 0.028 12% -3% -35% $6,388,428 NTU Northern Min Ltd 0.029 0% -2% -37% $171,418,398 AXE Archer Materials 0.35 -10% -5% -42% $89,196,455 PGM Platina Resources 0.021 5% -5% 17% $13,086,787 AAJ Aruma Resources Ltd 0.027 4% 4% -67% $5,316,071 IXR Ionic Rare Earths 0.022 0% 5% -46% $94,171,211 NIC Nickel Industries 0.625 -5% -8% -44% $2,678,631,175 EVG Evion Group NL 0.029 -12% -9% -59% $10,032,816 CWX Carawine Resources 0.105 0% -13% -11% $24,793,172 PLS Pilbara Min Ltd 3.6 -7% -8% -11% $10,834,084,602 HAS Hastings Tech Met 0.725 -1% 15% -80% $93,790,823 BUX Buxton Resources Ltd 0.165 3% 10% 38% $28,585,737 ARR American Rare Earths 0.145 -6% -3% -31% $64,731,378 SGQ St George Min Ltd 0.033 -6% -6% -54% $32,476,246 TKL Traka Resources 0.002 0% -36% -64% $1,750,659 PAN Panoramic Resources 0.035 0% 0% -82% $103,937,992 PRL Province Resources 0.041 0% 0% -35% $48,441,219 IPT Impact Minerals 0.0125 -4% 25% 56% $35,808,799 LIT Lithium Australia 0.03 3% 0% -39% $36,665,750 AKE Allkem Limited 9.83 0% 18% -13% $6,304,350,967 ARN Aldoro Resources 0.09 -7% 8% -63% $12,116,137 JRV Jervois Global Ltd 0.037 -3% -8% -88% $99,993,265 SYR Syrah Resources 0.48 -12% -26% -79% $324,430,910 FBM Future Battery 0.059 -14% -13% 5% $31,491,603 ADD Adavale Resource Ltd 0.009 20% 13% -50% $6,751,330 LTR Liontown Resources 1.38 -10% -5% -8% $3,342,338,962 CTM Centaurus Metals Ltd 0.45 -9% -4% -62% $222,685,935 VML Vital Metals Limited 0.005 -17% -50% -80% $29,475,335 BSX Blackstone Ltd 0.066 -6% -6% -54% $34,058,530 POS Poseidon Nick Ltd 0.01 -17% -29% -78% $37,135,348 CHR Charger Metals 0.17 6% -3% -63% $13,161,443 AVL Aust Vanadium Ltd 0.019 -5% 0% -30% $94,403,529 AUZ Australian Mines Ltd 0.008 -11% -11% -85% $7,560,394 TMT Technology Metals 0.265 8% 23% -21% $67,385,786 RXL Rox Resources 0.175 -3% -5% -15% $64,636,996 RNU Renascor Res Ltd 0.093 -15% -26% -64% $236,164,897 GL1 Globallith 0.665 -28% -50% -70% $173,076,424 ASN Anson Resources Ltd 0.099 -14% -29% -51% $127,288,178 SYA Sayona Mining Ltd 0.049 -13% -25% -79% $504,371,505 FFX Firefinch Ltd 0.2 0% 0% 0% $236,569,315 EGR Ecograf Limited 0.15 3% -6% -35% $68,104,773 ATM Aneka Tambang 1.18 0% 0% 12% $1,538,306 TVN Tivan Limited 0.061 -2% -12% -32% $97,620,537 ALY Alchemy Resource Ltd 0.009 -10% -10% -50% $10,602,686 GAL Galileo Mining Ltd 0.235 -16% -6% -77% $46,441,858 BHP BHP Group Limited 46.5 -5% -6% -6% $235,696,400,096 LEL Lithenergy 0.52 -5% -10% -34% $53,565,200 MMC Mitremining 0.22 -8% -6% -23% $12,471,278 RMX Red Mount Min Ltd 0.0035 17% 17% -30% $9,357,516 GW1 Greenwing Resources 0.105 -13% 17% -68% $18,296,406 AQD Ausquest Limited 0.011 10% -8% -27% $9,076,641 LML Lincoln Minerals 0.005 -17% -17% -27% $8,520,226 1MC Morella Corporation 0.004 -27% -33% -71% $24,715,198 REE Rarex Limited 0.026 -4% -4% -50% $17,768,051 MRC Mineral Commodities 0.035 6% 17% -44% $34,456,541 PUR Pursuit Minerals 0.008 0% -11% -64% $23,551,771 QPM Queensland Pacific 0.05 -2% -2% -57% $100,627,016 EMH European Metals Hldg 0.33 -13% -39% -50% $41,657,720 BMM Balkanminingandmin 0.1 0% -5% -69% $7,104,051 PEK Peak Rare Earths Ltd 0.32 -11% 0% -27% $85,101,363 LEG Legend Mining 0.013 -13% -19% -69% $37,758,203 MOH Moho Resources 0.011 10% 22% -50% $5,895,353 AML Aeon Metals Ltd. 0.01 11% 11% -63% $10,964,006 G88 Golden Mile Res Ltd 0.018 -5% 0% -16% $5,929,011 WKT Walkabout Resources 0.125 -7% -4% 9% $83,907,681 TON Triton Min Ltd 0.021 -13% -5% -43% $32,789,246 AR3 Austrare 0.14 -3% -3% -59% $21,583,235 ARU Arafura Rare Earths 0.15 -3% -6% -70% $340,442,204 MIN Mineral Resources. 59.84 -11% -10% -32% $11,679,955,852 VMC Venus Metals Cor Ltd 0.1 -5% -13% 23% $18,972,868 S2R S2 Resources 0.15 -3% -21% -13% $67,778,699 CNJ Conico Ltd 0.0045 13% -10% -50% $7,065,427 VR8 Vanadium Resources 0.051 0% 13% -28% $28,575,310 PVT Pivotal Metals Ltd 0.02 -9% 25% -51% $13,601,116 BOA Boadicea Resources 0.03 -9% -12% -70% $3,692,709 IPX Iperionx Limited 1.47 4% 14% 84% $329,717,399 SLZ Sultan Resources Ltd 0.017 -11% 6% -81% $2,519,231 NKL Nickelxltd 0.037 -20% -8% -55% $3,249,161 NVA Nova Minerals Ltd 0.325 -4% -17% -52% $68,539,237 MLS Metals Australia 0.035 3% 3% -27% $21,841,267 MQR Marquee Resource Ltd 0.024 -8% -14% -48% $9,921,225 MRR Minrex Resources Ltd 0.014 -7% -18% -63% $15,188,145 EVR Ev Resources Ltd 0.012 -8% 33% -20% $13,195,060 EFE Eastern Resources 0.008 0% -11% -56% $9,935,572 CNB Carnaby Resource Ltd 0.75 1% -13% -25% $122,134,753 BNR Bulletin Res Ltd 0.1 -29% -17% -5% $29,361,332 AX8 Accelerate Resources 0.032 -9% -20% 23% $18,339,256 AM7 Arcadia Minerals 0.07 1% -10% -68% $7,633,507 AS2 Askarimetalslimited 0.17 0% -11% -74% $13,251,536 BYH Bryah Resources Ltd 0.013 -7% 4% -47% $5,636,894 DTM Dart Mining NL 0.016 0% 0% -73% $3,641,274 EMS Eastern Metals 0.036 0% 9% -54% $2,967,345 FG1 Flynngold 0.057 8% 19% -41% $8,306,282 GSM Golden State Mining 0.012 -8% -25% -77% $3,352,448 IMI Infinitymining 0.13 8% -10% -51% $15,437,941 LRV Larvottoresources 0.067 -1% -15% -55% $14,981,980 LSR Lodestar Minerals 0.0035 17% -13% -30% $7,081,891 RAG Ragnar Metals Ltd 0.023 -8% 5% 72% $10,901,562 CTN Catalina Resources 0.0035 -13% -30% -61% $4,334,704 TMB Tambourahmetals 0.11 -4% -15% 0% $9,123,439 TEM Tempest Minerals 0.008 0% 0% -70% $4,152,995 EMC Everest Metals Corp 0.08 -6% -1% -27% $13,062,649 WML Woomera Mining Ltd 0.021 -13% -25% 11% $25,580,919 KZR Kalamazoo Resources 0.105 -25% 0% -50% $18,166,872 LMG Latrobe Magnesium 0.055 -4% -4% -27% $103,435,606 KOR Korab Resources 0.015 -6% -12% -40% $5,505,750 CMX Chemxmaterials 0.085 0% 31% -50% $4,524,767 NC1 Nicoresourceslimited 0.31 -5% 2% -54% $33,015,178 GRE Greentechmetals 0.35 -16% -28% 169% $28,270,394 CMO Cosmometalslimited 0.065 0% 5% -59% $2,255,283 FRB Firebird Metals 0.11 -19% -23% -35% $15,659,754 S32 South32 Limited 3.41 1% 5% -27% $15,444,771,717 OMH OM Holdings Limited 0.52 2% 16% -29% $398,453,537 JMS Jupiter Mines. 0.175 -3% 0% -24% $342,913,431 E25 Element 25 Ltd 0.33 -15% -24% -71% $71,785,011 EMN Euromanganese 0.076 -21% -24% -79% $17,989,547 KGD Kula Gold Limited 0.013 -19% -19% -52% $5,451,755 LRS Latin Resources Ltd 0.23 -4% 0% 92% $642,575,426 CRR Critical Resources 0.018 -10% -10% -59% $32,001,305 ENT Enterprise Metals 0.004 0% 0% -56% $3,207,884 SCN Scorpion Minerals 0.03 -3% -21% -57% $12,283,686 GCM Green Critical Min 0.007 -22% -30% -68% $7,956,095 ENV Enova Mining Limited 0.022 10% 144% 83% $14,100,445 RBX Resource B 0.075 3% -5% -6% $6,201,336 AKN Auking Mining Ltd 0.048 9% 12% -48% $11,056,978 RR1 Reach Resources Ltd 0.004 0% -11% 0% $12,841,188 EMT Emetals Limited 0.007 0% 0% -46% $5,950,000 PNT Panthermetalsltd 0.06 0% 0% -68% $5,101,500 WIN Widgienickellimited 0.105 -9% 5% -70% $31,284,231 WMG Western Mines 0.185 -24% -37% 28% $12,499,811 AVW Avira Resources Ltd 0.002 0% 100% -33% $4,267,580 CAI Calidus Resources 0.22 10% 26% -44% $134,710,617 GT1 Greentechnology 0.2 -20% -25% -78% $63,450,419 KAI Kairos Minerals Ltd 0.014 0% -7% -36% $36,692,771 MTM MTM Critical Metals 0.075 -35% 257% -5% $7,457,781 NWM Norwest Minerals 0.027 -21% 0% -59% $7,764,377 PGD Peregrine Gold 0.295 -8% 28% -41% $19,763,962 RAS Ragusa Minerals Ltd 0.04 25% 8% -67% $5,703,951 RGL Riversgold 0.01 -17% -17% -64% $9,676,615 SRZ Stellar Resources 0.006 -25% -25% -57% $6,894,159 STM Sunstone Metals Ltd 0.012 -8% -8% -72% $41,852,819 ZNC Zenith Minerals Ltd 0.175 40% 6% -30% $61,666,655 WC8 Wildcat Resources 0.54 -19% -28% 1588% $645,752,586 ASO Aston Minerals Ltd 0.021 -9% -19% -74% $27,196,350 THR Thor Energy PLC 0.04 38% 54% -33% $7,441,453 YAR Yari Minerals Ltd 0.011 0% 22% -39% $5,305,936 IG6 Internationalgraphit 0.145 4% -9% -36% $12,903,276 LPM Lithium Plus 0.26 -17% -33% -30% $22,356,932 ODE Odessa Minerals Ltd 0.008 -11% 14% -38% $7,576,895 KOB Kobaresourceslimited 0.084 20% 1% -37% $8,855,000 AZI Altamin Limited 0.056 -3% 8% -29% $23,974,829 FTL Firetail Resources 0.064 -10% -22% -56% $9,529,956 LNR Lanthanein Resources 0.01 -9% 0% -55% $12,898,119 CLZ Classic Min Ltd 0.001 0% 0% -90% $12,357,082 NVX Novonix Limited 0.645 -1% -4% -65% $315,233,082 OCN Oceanalithiumlimited 0.085 -15% -26% -81% $4,596,503 SUM Summitminerals 0.094 -6% -10% -33% $4,479,770 DVP Develop Global Ltd 2.32 -15% -19% -36% $562,956,308 OD6 Od6Metalsltd 0.11 -12% -35% -67% $6,051,705 HRE Heavy Rare Earths 0.054 -17% -16% -61% $3,266,348 LIN Lindian Resources 0.15 3% 0% -44% $172,788,335 PEK Peak Rare Earths Ltd 0.32 -11% 0% -27% $85,101,363 ILU Iluka Resources 6.7 4% 2% -36% $2,854,416,423 ASM Ausstratmaterials 1.11 -7% -8% -30% $185,139,100 ETM Energy Transition 0.043 5% 2% -25% $60,202,571 VMS Venture Minerals 0.008 7% 0% -71% $17,680,104 IDA Indiana Resources 0.08 -2% 29% 31% $49,218,965 VTM Victory Metals Ltd 0.22 5% 6% -4% $17,907,924 M2R Miramar 0.03 20% 11% -61% $4,466,086 WCN White Cliff Min Ltd 0.018 80% 80% 20% $22,983,468 TAR Taruga Minerals 0.009 -18% -18% -64% $6,354,241 ABX ABX Group Limited 0.073 0% 3% -42% $18,252,943 MEK Meeka Metals Limited 0.04 5% 3% -31% $49,388,357 RR1 Reach Resources Ltd 0.004 0% -11% 0% $12,841,188 DRE Dreadnought Resources Ltd 0.027 0% -13% -73% $93,934,970 KFM Kingfisher Mining 0.14 -3% -3% -70% $7,520,100 AOA Ausmon Resorces 0.003 0% 0% -50% $3,020,998 WC1 Westcobarmetals 0.07 0% -15% -60% $8,456,023 GRL Godolphin Resources 0.042 0% 11% -53% $7,108,165 DM1 Desert Metals 0.042 -11% -26% -77% $3,151,725 PTR Petratherm Ltd 0.037 9% 6% -45% $8,315,792 ITM Itech Minerals Ltd 0.095 -14% -21% -70% $11,607,438 KTA Krakatoa Resources 0.021 -36% -49% -51% $9,914,252 M24 Mamba Exploration 0.049 20% 11% -79% $3,140,032 LNR Lanthanein Resources 0.01 -9% 0% -55% $12,898,119 TKM Trek Metals Ltd 0.04 3% -11% -44% $20,523,074 BCA Black Canyon Limited 0.11 -21% -21% -58% $7,715,561 CDT Castle Minerals 0.0075 -6% -6% -69% $9,183,697 DLI Delta Lithium 0.3 -17% -40% -35% $213,545,893 A11 Atlantic Lithium 0.405 0% -17% -38% $255,321,509 KNI Kunikolimited 0.26 -7% 0% -53% $22,475,510 CY5 Cygnus Metals Ltd 0.105 -9% -19% -73% $30,613,710 WR1 Winsome Resources 0.715 -17% -31% -61% $136,411,311 LLI Loyal Lithium Ltd 0.335 -12% 8% -7% $27,901,252 BC8 Black Cat Syndicate 0.24 4% -11% -47% $72,903,682 BUR Burleyminerals 0.14 -7% -18% -42% $14,461,546 PBL Parabellumresources 0.06 2% -9% -87% $3,738,000 L1M Lightning Minerals 0.115 -4% -21% -38% $4,855,882 WA1 Wa1Resourcesltd 11.14 -14% 31% 666% $473,725,158 EV1 Evolutionenergy 0.14 0% 8% -40% $31,813,284 1AE Auroraenergymetals 0.155 41% 104% -3% $24,677,074 RVT Richmond Vanadium 0.27 -7% 0% 15% $23,276,108 PMT Patriotbatterymetals 0.86 -14% -27% -9% $433,440,138 PAT Patriot Lithium 0.16 -11% -20% -46% $10,962,741 BM8 Battery Age Minerals 0.2 -9% 5% -60% $17,827,398 OM1 Omnia Metals Group 0.078 0% 0% -48% $3,786,192 VHM Vhmlimited 0.6 -13% -12% -47% $92,349,675 LLL Leolithiumlimited 0.505 0% 0% -9% $498,553,663 SRN Surefire Rescs NL 0.009 0% -5% -44% $17,668,420 SRL Sunrise 0.44 1% -5% -79% $39,700,099 SYR Syrah Resources 0.48 -12% -26% -79% $324,430,910 EG1 Evergreenlithium 0.15 -9% -21% 0% $8,434,500 WSR Westar Resources 0.0195 8% 3% -64% $3,614,472 LU7 Lithium Universe Ltd 0.025 -17% -22% -17% $9,713,047 MEI Meteoric Resources 0.235 -18% 2% 292% $467,678,164 REC Rechargemetals 0.089 -3% -10% -32% $9,910,326 SLM Solismineralsltd 0.13 -16% -10% 30% $10,192,092 DYM Dynamicmetalslimited 0.16 3% 14% -16% $5,600,000 TOR Torque Met 0.205 -13% 0% 28% $27,372,437 ICL Iceni Gold 0.064 -2% 14% -51% $15,638,857 TMX Terrain Minerals 0.006 33% 50% 0% $8,120,567 MHC Manhattan Corp Ltd 0.005 25% 25% -17% $14,684,899 MHK Metalhawk. 0.14 17% 8% -10% $13,918,022 ANX Anax Metals Ltd 0.025 -11% -22% -62% $12,087,941 FIN FIN Resources Ltd 0.016 -27% -16% 0% $10,388,299 LM1 Leeuwin Metals Ltd 0.14 12% -10% 0% $6,559,234 HAW Hawthorn Resources 0.1 0% 1% -9% $33,501,561 LCY Legacy Iron Ore 0.017 0% 0% -6% $108,916,045 RON Roninresourcesltd 0.16 -3% -26% -3% $5,892,002 ASR Asra Minerals Ltd 0.007 17% -13% -65% $11,455,470 PFE Panteraminerals 0.056 14% -5% -61% $7,426,863 KM1 Kalimetalslimited 0.49 -7% 0% 0% $37,407,627 AEV Avenira Limited 0.012 0% -8% -43% $26,058,859

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CHARGED UP

White Cliff Minerals (ASX:WCN) +80%

Aurora Energy Metals (ASX:1AE) +41%

Zenith Minerals (ASX:ZNC) +40%

LOW ON JUICE

Mount Ridley Mines (ASX:MRD) -50%

Krakatoa Resources (ASX:KTA) -36%

Bulletin Resources (ASX:BNR) -29%

More lithium head commentary

… from around the traps on Tesla boss Elon Musk’s social platform…

Great post. Conversion cost to BG has crept up-it may be higher – even for GF. Most converters need closer to 8:1 vs 7:1 per LCE. Low grades from Mt Marion is another issue. China Inc also knows as western conversion capacity is built it will be tougher to get WA supply.

— Joe Lowry (@globallithium) January 15, 2024

Worth noting Bloomberg headlines today that BYD have approached Sigma Lithium $SGML … your thesis playing out, get the price down and buy future supply in jurisdictions you’re allowed to. pic.twitter.com/u5zDKw6Fas

— Max from Elwood (@staz7) January 15, 2024

Old mate Goldman Sachs has slapped a sell on $PLS with a $3.20 price target!!!

The same people who constantly talk about an oversupply of #Lithium every few weeks.

— that stock chick (@ausstockchick) January 15, 2024

POLL
Jan 2024 market chatter re: #uranium now >$100 reminds me of Jan 2022 market chatter re #Lithium. @friedberg @theallinpod predicting $URA as his 2024 pick in similar way @Chamath touted lithium/battery metals in Jan 2022. @PippaStevens13 @CNBC talked about it recently too.…

— Howard Klein (@LithiumIonBull) January 14, 2024

Good point. Energy thesis is strong for #Lithium too, not just EVs.

NB: @drvolts highly popular tweet for solar + storage.https://t.co/30k9QcSrnu

— Howard Klein (@LithiumIonBull) January 14, 2024

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