It’s been a long, dark investment winter for lithium lovers. Is that over?
Probably too early to call, bottom inspectors. But… BUT… ASX lithium stocks are having a rare big day out today
Standout lithium winners today include: TMX, AX8, CC9, LRS… oh, and PMT
Our lithium roundup for Wednesday, February 7.
Finally, after what feels like about the time it takes to charge a Tesla 100,000 times, there are more ASX lithium stocks frolicking in the intraday green than doubled over on the can sharting sharp, painful, blood-red dumps.
What gives? Gains on lithium stocks globally, seemingly.
Overnight, big global lithium players made strong gains, including: Ganfeng Lithium (+8%), Tianqi Lithium (+7%), Albemarle (+4%) and Lithium Americas Corp (+7%).
The materials/resources sector on the ASX is having a strong day across the board, though, retracing losses from the past couple of days.
Some notable standouts in the some of the biggest market-capped lithium players today include…
Pilbara Minerals (ASX:PLS) : +5.18%
Liontown Resources (ASX:LTR) : +6.39%
Wildcat Resources (ASX:WC8) : +10.35%
Latin Resources (ASX:LRS) : +16%
Patriot Battery Metals (ASX:PMT) : +12.12%
Core Lithium (ASX:CXO) : +5.5%
Even Piedmont Lithium (ASX:PLL) is up 10.8% despite the negative news it’s laid off 27% of its workforce in an effort to cut costs amid the lithium price doldrums that have dominated the past year. Guess the positive spin there is the potential to save US$10 million a year on costs.
Regarding big gun PLS, it has some news of note today, having executed an amendment to its existing offtake agreement with Chengxin Lithium Group. This, it says, “materially extends and expands the supply of spodumene concentrate to a leading lithium chemical converter”.
The amendment will see PLS supply an additional 60kt of spodumene concentrate in 2024, taking the total supply to 85kt.
Then, in 2025, PLS will supply 150kt of spodumene concentrate to Chengxin Lithium Group and in 2026, another 150kt.
Contango… oh no?
Earlier, in a High Voltage article today, we quoted “contango” fan and lithium expert Juan Carlos Zuleta, who has been noticing an upwards trend (contango) for lithium futures.
Hold your horsepowers, though… he now says we might not actually be done with “backwardation” just yet.
Welcome back to backwardation in the futures #lithium carbonate market? Chances are this will happen today. But no one knows what’s next in this volatile market. Before you panic, a general price rebound is compatible with backwardation which only adds more uncertainty. Let’s see
— Juan Carlos Zuleta (@jczuleta) February 7, 2024
The positive contango trend for lithium futures has been playing out for about three weeks now… but could it be due for a bit of a lie down? Just something to keep in mind – “the trend is your friend until the end” and all that.
Let’s not ruin today’s party too much, though, as the daily form guide’s looking half decent for a change…
ASX lithium form guide
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at 3pm.)
Stocks missing from this list? Email [email protected] and [email protected]
CODE COMPANY TODAY WEEK 1 MONTH % 12 MONTH % PRICE MARKET CAP ADV Ardiden Ltd 3% 6% 0% -39% 0.185 $11,253,151 AGY Argosy Minerals Ltd 8% 3% -24% -85% 0.1025 $133,418,712 1MC Morella Corporation 0% 0% -27% -71% 0.004 $24,715,198 AML Aeon Metals Ltd. 11% 11% 0% -64% 0.01 $9,867,606 ASN Anson Resources Ltd 4% -15% -38% -67% 0.08 $99,078,072 AVZ AVZ Minerals Ltd 0% 0% 0% 0% 0.78 $2,752,409,203 CXO Core Lithium 6% -3% -17% -82% 0.19 $384,648,398 EMH European Metals Hldg 2% 3% -23% -54% 0.31 $38,501,832 EUR European Lithium Ltd 0% 2% -4% 5% 0.086 $119,904,569 GLN Galan Lithium Ltd 6% -42% -53% -72% 0.3125 $104,274,323 INF Infinity Lithium 10% -13% -21% -47% 0.077 $32,381,447 INR Ioneer Ltd -4% 0% -11% -71% 0.125 $274,561,579 JLL Jindalee Lithium Ltd 4% -3% 3% -58% 0.99 $57,768,062 LIT Lithium Australia -2% 2% -5% -42% 0.0285 $35,443,558 LKE Lake Resources 3% -6% -30% -88% 0.091 $125,302,654 LPD Lepidico Ltd 0% 0% -25% -60% 0.006 $45,829,848 LPI Lithium Pwr Int Ltd 0% 0% 0% 33% 0.5575 $355,493,683 LTR Liontown Resources 6% -7% -40% -37% 0.9525 $2,180,885,375 MIN Mineral Resources. 3% -6% -16% -36% 57.1 $10,776,242,690 MLS Metals Australia 0% -3% -17% -42% 0.03 $18,721,086 AKE Allkem Limited 0% -100% -100% -100% 0 $6,304,350,967 PLL Piedmont Lithium Inc 9% -24% -47% -79% 0.2025 $71,393,073 PLS Pilbara Min Ltd 5% -2% -9% -26% 3.54 $10,172,001,654 QPM Queensland Pacific 0% -10% -31% -64% 0.036 $72,451,451 PSC Prospect Res Ltd -4% -5% -16% -42% 0.076 $36,603,225 RLC Reedy Lagoon Corp. 0% -20% -20% -54% 0.004 $2,478,163 SYA Sayona Mining Ltd -3% -7% -36% -84% 0.039 $411,731,841 TKL Traka Resources 0% 0% -33% -64% 0.002 $3,501,317 TON Triton Min Ltd 0% -6% -23% -60% 0.017 $26,543,675 VUL Vulcan Energy 3% -6% -16% -71% 2.07 $345,866,746 GL1 Globallith 3% -16% -58% -78% 0.465 $117,119,385 BMM Balkanminingandmin 0% -20% -35% -85% 0.072 $5,114,917 LEL Lithenergy -1% -3% -40% -64% 0.335 $34,765,875 ARN Aldoro Resources 6% 3% -14% -56% 0.099 $12,520,008 NMT Neometals Ltd 2% -15% -31% -83% 0.1275 $77,836,290 IGO IGO Limited 4% -9% -18% -51% 7.02 $5,134,275,772 AAJ Aruma Resources Ltd 0% 0% -22% -72% 0.021 $4,134,722 PAM Pan Asia Metals 0% 0% -9% -57% 0.16 $26,850,684 AX8 Accelerate Resources 23% -4% -31% 0% 0.027 $12,630,239 AM7 Arcadia Minerals -1% -4% -4% -69% 0.066 $7,306,357 AS2 Askarimetalslimited 1% -25% -44% -85% 0.098 $7,561,171 BYH Bryah Resources Ltd -10% -18% -36% -59% 0.009 $4,336,073 EMS Eastern Metals -12% 0% -19% -63% 0.029 $2,720,066 FG1 Flynngold -4% -12% 6% -44% 0.053 $9,027,750 FRS Forrestaniaresources -4% -18% -23% -86% 0.023 $3,882,858 GSM Golden State Mining 18% 8% -13% -72% 0.013 $3,073,077 IMI Infinitymining 10% 0% -15% -51% 0.11 $11,875,339 LRV Larvottoresources 3% -8% -3% -56% 0.068 $14,758,369 MMC Mitremining 0% 2% -6% -27% 0.225 $12,754,716 RAG Ragnar Metals Ltd 0% -5% -9% 38% 0.021 $9,953,600 CTN Catalina Resources -20% 33% 0% -60% 0.004 $6,192,434 TMB Tambourahmetals 0% -2% -25% -22% 0.086 $7,132,870 TEM Tempest Minerals 0% -13% -13% -74% 0.007 $3,633,871 EMC Everest Metals Corp 3% 4% 4% -10% 0.082 $13,142,649 WCN White Cliff Min Ltd 0% 7% 78% 33% 0.016 $21,373,749 WML Woomera Mining Ltd 17% 40% -72% -56% 0.007 $7,308,834 AZL Arizona Lithium Ltd 8% -2% -31% -69% 0.0215 $75,728,901 CRR Critical Resources -7% 8% -30% -75% 0.014 $26,667,754 KGD Kula Gold Limited 0% -19% -62% -76% 0.0065 $2,750,877 LRS Latin Resources Ltd 14% -6% -32% 39% 0.16 $391,475,868 PNN Power Minerals Ltd -7% -15% -32% -72% 0.14 $13,106,415 WR1 Winsome Resources 12% 4% -37% -72% 0.615 $104,931,778 KZR Kalamazoo Resources 0% 6% -35% -51% 0.1 $17,301,782 MTM MTM Critical Metals -3% -6% -45% -15% 0.066 $8,452,152 QXR Qx Resources Limited 13% 6% -25% -61% 0.018 $17,761,246 SCN Scorpion Minerals -10% -36% -45% -78% 0.018 $8,189,124 AZI Altamin Limited 0% -2% -7% -33% 0.05 $21,406,097 ENT Enterprise Metals 0% 0% 0% -56% 0.004 $3,207,884 KAI Kairos Minerals Ltd 8% -13% 0% -23% 0.014 $34,071,858 STM Sunstone Metals Ltd 0% 11% -29% -68% 0.01 $34,877,349 PGD Peregrine Gold -7% -10% -10% -44% 0.27 $19,428,979 AVW Avira Resources Ltd 0% 0% 33% -33% 0.002 $4,267,580 NVA Nova Minerals Ltd -3% -19% -21% -55% 0.285 $62,212,560 GT1 Greentechnology 8% -10% -52% -85% 0.13 $38,250,252 BNR Bulletin Res Ltd 0% 0% -41% -29% 0.085 $24,957,132 CAI Calidus Resources 0% -8% -15% -34% 0.175 $107,187,975 MRR Minrex Resources Ltd 18% 0% -19% -64% 0.013 $11,933,543 A8G Australasian Metals -6% -18% -34% -46% 0.099 $5,472,652 EFE Eastern Resources -13% 0% -22% -59% 0.007 $9,935,572 MQR Marquee Resource Ltd 0% -10% -32% -44% 0.019 $7,854,303 SRZ Stellar Resources 0% 0% -13% -42% 0.007 $8,043,185 LSR Lodestar Minerals 0% 0% -50% -60% 0.002 $4,046,795 NWM Norwest Minerals 0% 8% -19% -59% 0.026 $7,476,807 AOA Ausmon Resorces 0% 0% -33% -67% 0.002 $2,117,999 VKA Viking Mines Ltd 8% 17% -7% 17% 0.014 $13,328,360 IPT Impact Minerals -4% -4% -4% 10% 0.0115 $34,376,447 SRI Sipa Resources Ltd 9% 20% -8% -23% 0.024 $5,019,479 VMC Venus Metals Cor Ltd 0% 0% 0% 15% 0.1 $18,972,868 RGL Riversgold 0% -10% -31% -65% 0.009 $8,708,953 ZNC Zenith Minerals Ltd -4% -15% -15% -51% 0.115 $42,285,706 RAS Ragusa Minerals Ltd -7% -22% -38% -77% 0.025 $3,850,167 G88 Golden Mile Res Ltd 0% -20% -33% -44% 0.012 $3,952,674 EPM Eclipse Metals 0% 14% 0% -64% 0.008 $16,500,434 EVR Ev Resources Ltd -4% 10% -8% -27% 0.011 $12,645,266 WC8 Wildcat Resources 7% 7% -33% 1503% 0.465 $520,189,584 MNS Magnis Energy Tech 0% 0% 0% -90% 0.042 $50,378,922 RIO Rio Tinto Limited 1% -2% -2% 4% 129.5 $47,667,874,040 THR Thor Energy PLC 0% -9% 7% -47% 0.032 $5,953,162 YAR Yari Minerals Ltd 0% -33% -27% -56% 0.008 $3,858,863 MXR Maximus Resources 3% -3% -3% -18% 0.033 $10,270,265 DRE Dreadnought Resources Ltd 6% -14% -38% -82% 0.018 $59,144,240 MM1 Midasmineralsltd -14% -22% -36% -48% 0.086 $8,674,725 M2R Miramar 0% -17% -13% -74% 0.02 $2,977,391 LLI Loyal Lithium Ltd 9% -2% -48% -52% 0.235 $17,906,774 LRD Lordresourceslimited 0% -2% 5% -69% 0.058 $2,153,663 WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031 AUN Aurumin 10% 18% 14% -51% 0.033 $10,753,292 ZEO Zeotech Limited 0% 6% 10% -20% 0.033 $57,202,961 ALY Alchemy Resource Ltd -11% 0% -20% -53% 0.008 $10,602,686 LIS Lisenergylimited 10% 10% 3% -55% 0.165 $96,030,035 GW1 Greenwing Resources 0% -6% -35% -71% 0.085 $14,811,376 KTA Krakatoa Resources 6% -5% -51% -53% 0.019 $8,497,930 TYX Tyranna Res Ltd 7% -6% -17% -42% 0.015 $46,023,955 DAF Discovery Alaska Ltd 0% 35% -7% -4% 0.027 $6,324,337 FTL Firetail Resources -6% -20% -37% -66% 0.047 $7,445,278 IR1 Irismetals -6% 19% -28% -44% 0.655 $90,639,487 LNR Lanthanein Resources 0% -23% -55% -77% 0.005 $6,449,060 DAL Dalaroometalsltd 0% 10% -12% -76% 0.022 $1,820,500 TKM Trek Metals Ltd 0% -18% -21% -58% 0.031 $15,905,383 CY5 Cygnus Metals Ltd 0% 0% -47% -86% 0.066 $19,242,903 TUL Tulla Resources 0% -100% -100% -100% 0 $118,262,971 WES Wesfarmers Limited -2% -1% 1% 13% 57.19 $65,861,674,417 LLL Leolithiumlimited 0% 0% 0% -17% 0.505 $498,553,663 OCN Oceanalithiumlimited -3% -5% -45% -84% 0.06 $3,352,743 A11 Atlantic Lithium 0% -5% -13% -49% 0.37 $240,377,550 CMD Cassius Mining Ltd 0% 3% -15% 0% 0.034 $18,428,153 VSR Voltaic Strategic 0% 0% -29% -38% 0.015 $7,246,558 SGQ St George Min Ltd 0% -15% -37% -71% 0.022 $21,747,890 LLO Lion One Metals Ltd 0% 1% -7% -11% 0.895 $13,716,520 PAT Patriot Lithium -8% 9% -33% -72% 0.12 $9,050,227 PL3 Patagonia Lithium 0% -4% -24% 0% 0.11 $5,404,135 BUR Burleyminerals -9% -24% -52% -73% 0.08 $9,090,115 CHR Charger Metals -4% 4% -26% -70% 0.125 $10,064,633 RMX Red Mount Min Ltd 0% -33% -33% -67% 0.002 $5,347,152 DLI Delta Lithium 7% 0% -31% -39% 0.29 $192,191,303 LM1 Leeuwin Metals Ltd 0% -8% -34% 0% 0.092 $4,310,354 ENT Enterprise Metals 0% 0% 0% -56% 0.004 $3,207,884 FIN FIN Resources Ltd 0% 0% -26% 21% 0.017 $11,037,568 DTM Dart Mining NL 8% -7% -19% -73% 0.013 $2,730,956 NIS Nickelsearch -3% -24% -47% -66% 0.039 $8,541,698 EG1 Evergreenlithium 0% -10% -42% 0% 0.099 $5,566,770 MAN Mandrake Res Ltd 8% 2% 2% -19% 0.042 $24,014,637 FBM Future Battery 6% 22% -26% -14% 0.055 $27,755,311 LPM Lithium Plus 9% -25% -45% -53% 0.18 $14,188,053 KOB Kobaresourceslimited 0% 0% 111% -14% 0.15 $19,562,500 EMC Everest Metals Corp 3% 4% 4% -10% 0.082 $13,142,649 LRD Lordresourceslimited 0% -2% 5% -69% 0.058 $2,153,663 IEC Intra Energy Corp 0% 0% -17% -58% 0.0025 $4,151,954 REC Rechargemetals -2% -10% -38% -50% 0.065 $7,349,230 SLM Solismineralsltd 0% -8% -17% -4% 0.12 $9,418,650 AZS Azure Minerals 0% 0% -1% 1057% 3.645 $1,665,006,857 DYM Dynamicmetalslimited 0% 7% -16% -18% 0.16 $5,760,000 TOR Torque Met 2% 2% -7% 27% 0.21 $31,375,972 SBR Sabre Resources 10% -12% -24% -45% 0.022 $7,485,239 ICL Iceni Gold -5% -21% -43% -65% 0.037 $9,615,881 TMX Terrain Minerals 25% 0% 0% -17% 0.005 $5,726,683 MHC Manhattan Corp Ltd -14% 0% 0% -50% 0.003 $10,279,429 MHK Metalhawk. -5% -27% -41% -50% 0.077 $8,052,570 NKL Nickelxltd 28% 16% 9% -32% 0.05 $3,424,792 TMB Tambourahmetals 0% -2% -25% -22% 0.086 $7,132,870 ANX Anax Metals Ltd 0% -9% -30% -71% 0.021 $10,153,870 PMT Patriotbatterymetals 13% -7% -29% -59% 0.7475 $332,640,106 BM8 Battery Age Minerals 0% -13% -36% -70% 0.14 $12,846,445 L1M Lightning Minerals 0% -18% -41% -61% 0.074 $3,124,655 ADG Adelong Gold Limited 11% 0% -9% -50% 0.005 $3,148,450 TOR Torque Met 2% 2% -7% 27% 0.21 $31,375,972 AL8 Alderan Resource Ltd 0% -13% -30% -56% 0.0035 $3,874,015 OZM Ozaurum Resources 6% -8% -47% -14% 0.069 $10,318,750 FL1 First Lithium Ltd -6% -12% -52% 25% 0.225 $16,812,400 PLN Pioneer Lithium 0% -12% -21% 0% 0.15 $4,263,750 WYX Western Yilgarn NL 4% 6% -10% -5% 0.094 $4,469,175 RDN Raiden Resources Ltd 10% -12% -39% 304% 0.023 $55,788,287 PFE Panteraminerals -5% -10% 4% -61% 0.052 $7,294,240 GRE Greentechmetals 0% -16% -51% 78% 0.205 $17,236,395 OLY Olympio Metals Ltd -2% -16% -41% -62% 0.059 $3,815,970 SUM Summitminerals -4% 6% -25% -51% 0.073 $3,621,942 JBY James Bay Minerals -3% -13% -45% 0% 0.165 $5,515,650 SCN Scorpion Minerals -10% -36% -45% -78% 0.018 $8,189,124 JNO Juno 0% 0% -22% -13% 0.09 $16,375,073 CC9 Chariot Corporation 22% -37% -44% 0% 0.31 $20,855,521 OBM Ora Banda Mining Ltd 0% 4% -4% 161% 0.235 $401,147,815 RON Roninresourcesltd 0% -14% -33% -31% 0.12 $4,419,001 CXB0 ASRA MINERALS LTD. 0% -14% -14% 0% 0.00003 $4,909,487 ASR Asra Minerals Ltd 0% 0% 0% -59% 0.006 $9,818,974 PFE Panteraminerals -5% -10% 4% -61% 0.052 $7,294,240 TG6 Tgmetalslimited 0% -8% -38% 110% 0.22 $11,898,957 HAW Hawthorn Resources 1% -3% -12% -4% 0.092 $30,486,421 KM1 Kalimetalslimited 3% -22% 60% 0% 0.4 $29,773,417 AEV Avenira Limited 0% 9% -8% -20% 0.012 $26,310,859
CHARGED UP
NickelX (ASX:NKL) : +28% – wait, how’d this get in here? Ah, it’s battery-metal-tastic. We’ll leave it for the moment.
Terrain Minerals (ASX:TMX) +25%
Accelerate Resources (ASX:AX8) +23%
Chariot Corporation (ASX:CC9) +22%
Golden State Mining (ASX:GSM) : +18%
Woomera Mining (ASX:WML) : +17%
Latin Resources (ASX:LRS) : +16%
RUNNING LOW
Strike Resources (ASX:SRK) -6%
Critical Resources (ASX:CRR) -6%
Focus on the irony of @GoldmanSachs #EV forecast vs their #lithium forecast. pic.twitter.com/BcEf2RJA0K
— Joe Lowry (@globallithium) February 2, 2024
The post Eye on Lithium: ASX lithium stocks strike back after global sector bounce appeared first on Stockhead.
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