The lithium market is “levelling out” as Stockhead‘s ‘Garimpeiro’ columnist Barry FitzGerald recently noted.
Is that the same as bottoming out, which seems like the slightly more bullish term for it?
What the hell, let’s call it here. The chart below sure looks bottom-y to us. (Annnd… cue black swan event for lithium globally any moment now we’ve said that, then.)
2024-03-15#Lithium Carbonate 99.5% Min China Spot
Price: $15,602.75
1 day: $0.00 (0.0%)
YTD: 14.05%#Spodumene Concentrate (6%, CIF China)
Price: $1,045.00
1 day: $0.0 (0.0%)
YTD: -20.53%
Sponsored by @portofino_porhttps://t.co/OiEuhFDGrg
— Lithium Price Bot (@LithiumPriceBot) March 15, 2024
March has been a very good month for the price of lithium so far, registering the first notable increase in Chinese domestic lithium prices in quite a while.
As the Lithium Price Bot tells us, battery grade lithium carbonate is now up 14% YTD, even if spodumene is well down in comparison.
According to Benchmark Mineral Intelligence, the upturn in lithium carbonate in China is being driven by purchases from cathode manufacturers expecting higher cell production this month.
“However, further price strengthening is needed to secure new lithium capacity capable of narrowing future deficits, continued the Benchmark analysis.
“A third of forecast production from projects under development need higher prices to incentivise expansions, according to Benchmark data.”
Metals: weekly price & performance pic.twitter.com/iWicNyuz2O
— MinerDeck (@MinerDeck) March 17, 2024
MinRes to buy Poseidon nickel plant to process lithium
One of the most major pieces of lithium-related news anywhere in the world today centred around Mineral Resources’ (ASX:MIN) newly cemented deal with Poseidon Nickel (ASX:POS), with the latter agreeing to sell its Lake Johnston concentrator plant and tenements in the Goldfields region of WA.
And that’s a sale/cash injection for POS worth $15 million, with exposure to future lithium and nickel exploration and production as a further upside part of the deal for the down-trending (YTD -33%) junior nickel hunter.
The Lake Johnston region is emerging as an exciting major lithium province following potentially significant discoveries that sent investors into a frenzy and caught the eye of the majors.
MinRes’ billionaire founder and MD Chris Ellison clearly has high conviction in the lithium narrative in the Lake Johnston region, where his company operates the Mt Marion and Bald Hill lithium mines.
MinRes now plans to develop this newly acquired infrastructure into a pumping processing hub for its considerable assets in the area.
Nickel’s loss is lithium, via MinRes’s, gain.
Want to know how #lithium demand is going? Take a look at the stocks of the Big 4 Li-ion battery producers: CATL, BYD, LG, and Panasonic which, together, represented 73.2% of all Li-ion battery installed capacity in 2023. pic.twitter.com/YYvUP6Oq4O
— Juan Carlos Zuleta (@jczuleta) March 18, 2024
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 about 3.30pm.)
Stocks missing from this list? Email [email protected]
CODE COMPANY 24 HR WEEK MONTH YEAR PRICE MARKET CAP ADV Ardiden Ltd 3% 7% -6% -49% 0.155 $9,377,626 AGY Argosy Minerals Ltd -11% 3% 60% -74% 0.16 $252,793,350 1MC Morella Corporation 0% -14% -25% -63% 0.003 $18,536,398 AML Aeon Metals Ltd. 17% 17% 0% -72% 0.007 $6,578,404 ASN Anson Resources Ltd -2% -15% 12% -58% 0.093 $122,239,180 AVZ AVZ Minerals Ltd 0% 0% 0% 0% 0.78 $2,752,409,203 CXO Core Lithium -14% -26% -26% -82% 0.155 $384,648,398 EMH European Metals Hldg 7% 10% -16% -47% 0.32 $37,314,177 EUR European Lithium Ltd 3% -9% -27% -7% 0.063 $85,048,590 GLN Galan Lithium Ltd -6% -7% 27% -65% 0.38 $157,683,447 INF Infinity Lithium 0% 0% -3% -24% 0.076 $35,156,999 INR Ioneer Ltd -2% 8% 30% -46% 0.1625 $348,482,004 JLL Jindalee Lithium Ltd -1% -1% 2% -70% 0.77 $47,182,291 LIT Lithium Australia 4% 7% 7% -22% 0.029 $34,224,167 LKE Lake Resources -3% -38% -29% -87% 0.071 $103,957,147 LPD Lepidico Ltd 20% 0% 0% -50% 0.006 $38,191,540 LPI Lithium Pwr Int Ltd 0% 0% 4% 95% 0.565 $361,898,974 LTR Liontown Resources 3% -1% 23% -11% 1.2925 $3,029,060,654 MIN Mineral Resources. 0% -2% 16% -18% 66.02 $12,864,737,469 MLS Metals Australia -4% -12% -24% -48% 0.022 $16,269,499 AKE Allkem Limited 0% -100% -100% -100% 0 $6,304,350,967 PLL Piedmont Lithium Inc -3% -12% -8% -78% 0.185 $72,928,175 PLS Pilbara Min Ltd 1% -2% 14% 7% 3.95 $11,767,019,665 QPM Queensland Pacific 5% 7% 25% -55% 0.045 $86,539,233 PSC Prospect Res Ltd 0% 8% 8% -58% 0.079 $36,603,225 RLC Reedy Lagoon Corp. 0% 0% -20% -31% 0.004 $2,478,163 SYA Sayona Mining Ltd 0% -2% -22% -81% 0.04 $411,731,841 TKL Traka Resources 0% 33% 0% -58% 0.002 $3,501,317 TON Triton Min Ltd 0% 0% -12% -48% 0.015 $23,420,890 VUL Vulcan Energy -8% 18% 52% -48% 3.15 $586,768,957 GL1 Globallith -3% -8% 21% -58% 0.57 $152,255,200 BMM Balkanminingandmin 0% -1% 0% -75% 0.068 $4,830,755 LEL Lithenergy -3% -1% 57% -9% 0.58 $61,290,950 ARN Aldoro Resources 0% 0% -18% -64% 0.082 $11,039,147 NMT Neometals Ltd -12% -9% -3% -77% 0.145 $102,763,702 IGO IGO Limited 3% -2% 11% -39% 7.645 $5,596,209,138 AAJ Aruma Resources Ltd 0% -6% 13% -71% 0.017 $3,347,156 PAM Pan Asia Metals 0% 0% 0% -52% 0.16 $26,850,684 AX8 Accelerate Resources 3% 7% 15% 29% 0.031 $18,299,140 AM7 Arcadia Minerals -7% -7% -2% -70% 0.065 $7,633,507 AS2 Askarimetalslimited 0% -1% 8% -83% 0.085 $6,764,956 BYH Bryah Resources Ltd 0% 0% -20% -59% 0.008 $3,483,628 EMS Eastern Metals 0% 7% -28% -53% 0.029 $2,390,361 FG1 Flynngold 0% 2% -22% -47% 0.043 $7,058,059 FRS Forrestaniaresources 0% 0% -5% -80% 0.02 $3,235,715 GSM Golden State Mining 0% 9% 9% -68% 0.012 $3,352,448 IMI Infinitymining 5% 11% -17% -55% 0.079 $8,906,504 LRV Larvottoresources -3% 5% 1% -47% 0.068 $15,652,815 MMC Mitremining 15% 11% 33% 55% 0.34 $26,303,650 RAG Ragnar Metals Ltd 0% 0% -5% 40% 0.02 $9,479,619 CTN Catalina Resources 0% -20% 0% -20% 0.004 $4,953,948 TMB Tambourahmetals -3% 0% 0% -2% 0.084 $7,215,811 TEM Tempest Minerals 0% 13% 29% -61% 0.009 $4,672,120 EMC Everest Metals Corp -1% 1% 4% -1% 0.079 $13,142,649 WCN White Cliff Min Ltd -7% -13% 0% 40% 0.014 $24,365,811 WML Woomera Mining Ltd 0% 0% 0% -67% 0.004 $4,872,556 AZL Arizona Lithium Ltd -4% 13% -10% -46% 0.027 $106,719,689 CRR Critical Resources -3% -6% 11% -61% 0.0155 $28,445,604 KGD Kula Gold Limited -22% -13% -13% -63% 0.007 $4,162,157 LRS Latin Resources Ltd 0% 5% 10% 100% 0.22 $615,872,282 PNN Power Minerals Ltd -5% -17% 9% -55% 0.175 $16,164,579 WR1 Winsome Resources 8% 7% 50% -40% 0.965 $170,752,621 KZR Kalamazoo Resources -2% -3% -23% -38% 0.093 $16,606,336 MTM MTM Critical Metals 1% -6% 7% -35% 0.075 $9,197,930 QXR Qx Resources Limited 6% -11% -23% -48% 0.017 $17,761,246 SCN Scorpion Minerals 4% -13% 40% -56% 0.028 $11,055,317 AZI Altamin Limited 0% -4% 10% -22% 0.053 $23,258,999 ENT Enterprise Metals 0% 0% 0% -63% 0.003 $2,405,913 KAI Kairos Minerals Ltd -4% 4% 4% -13% 0.0135 $36,692,771 STM Sunstone Metals Ltd -8% 0% 10% -65% 0.011 $42,007,819 PGD Peregrine Gold 0% 2% -10% -45% 0.225 $15,205,145 AVW Avira Resources Ltd 0% 0% -50% -50% 0.001 $2,133,790 NVA Nova Minerals Ltd 0% -2% 6% -38% 0.275 $57,994,767 GT1 Greentechnology -3% -16% 24% -77% 0.155 $51,000,336 BNR Bulletin Res Ltd -13% -3% -17% -27% 0.068 $22,901,839 CAI Calidus Resources 0% 14% 10% -30% 0.165 $101,086,600 MRR Minrex Resources Ltd -7% 0% 8% -52% 0.013 $15,188,145 A8G Australasian Metals 0% 0% -32% -47% 0.071 $3,700,555 EFE Eastern Resources -6% 7% -6% -32% 0.0075 $9,935,572 MQR Marquee Resource Ltd 0% 0% 5% -17% 0.02 $8,267,688 SRZ Stellar Resources 7% 15% 114% 36% 0.015 $20,107,963 LSR Lodestar Minerals 0% 0% 0% -56% 0.002 $4,046,795 NWM Norwest Minerals 4% -13% -13% -18% 0.028 $9,702,977 AOA Ausmon Resorces -33% -33% -33% -60% 0.002 $3,176,998 VKA Viking Mines Ltd 0% -9% -17% 0% 0.01 $10,252,584 IPT Impact Minerals -7% 0% 33% 40% 0.014 $42,970,558 SRI Sipa Resources Ltd 0% 12% -14% -17% 0.019 $4,335,005 VMC Venus Metals Cor Ltd -2% -3% -12% 1% 0.088 $17,075,581 RGL Riversgold 0% 0% 0% -50% 0.008 $7,741,292 ZNC Zenith Minerals Ltd 0% 11% -5% -51% 0.1 $35,238,088 RAS Ragusa Minerals Ltd -7% -13% 4% -69% 0.027 $4,135,365 G88 Golden Mile Res Ltd 0% 8% 0% -24% 0.013 $5,345,897 EPM Eclipse Metals 17% 0% 0% -56% 0.007 $12,450,325 EVR Ev Resources Ltd -8% 9% 0% -20% 0.012 $17,176,529 WC8 Wildcat Resources -2% -1% 42% 2366% 0.715 $880,791,938 MNS Magnis Energy Tech 0% 0% 0% -87% 0.042 $50,378,922 RIO Rio Tinto Limited 0% -2% -8% -2% 117.2 $43,413,736,227 THR Thor Energy PLC 0% 0% -11% -44% 0.025 $4,604,303 YAR Yari Minerals Ltd -17% -17% -38% -72% 0.005 $2,894,147 MXR Maximus Resources 0% -3% -11% -3% 0.032 $10,270,265 DRE Dreadnought Resources Ltd -3% -17% -13% -73% 0.0175 $62,668,313 MM1 Midasmineralsltd -6% -6% -18% -47% 0.08 $7,382,016 M2R Miramar 0% 0% -17% -67% 0.015 $2,233,043 LLI Loyal Lithium Ltd -2% 10% 14% 2% 0.285 $24,153,323 LRD Lordresourceslimited 0% -4% -6% -74% 0.051 $1,893,738 WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031 AUN Aurumin -3% -19% -3% 10% 0.034 $12,895,508 ZEO Zeotech Limited -3% 12% 4% -52% 0.028 $50,269,269 ALY Alchemy Resource Ltd 0% -13% -22% -53% 0.007 $8,246,534 LIS Lisenergylimited 0% -7% -7% -45% 0.14 $89,628,032 GW1 Greenwing Resources 0% 1% -15% -71% 0.07 $12,687,604 KTA Krakatoa Resources 0% -18% -44% -71% 0.009 $4,248,965 TYX Tyranna Res Ltd 0% -8% -27% -50% 0.011 $36,161,679 DAF Discovery Alaska Ltd 0% 0% -30% -47% 0.016 $3,747,755 FTL Firetail Resources -12% -24% -8% -63% 0.044 $7,445,278 IR1 Irismetals -2% -26% -20% -62% 0.44 $58,290,742 LNR Lanthanein Resources 0% 0% -50% -82% 0.003 $5,864,727 DAL Dalaroometalsltd -15% -11% -15% -72% 0.017 $1,655,000 TKM Trek Metals Ltd 0% -10% -15% -50% 0.035 $17,957,690 CY5 Cygnus Metals Ltd -4% -19% -34% -84% 0.046 $13,994,839 TUL Tulla Resources 0% -100% -100% -100% 0 $118,262,971 WES Wesfarmers Limited -1% -1% 7% 36% 66.405 $76,125,978,765 LLL Leolithiumlimited 0% 0% 0% 4% 0.505 $498,553,663 OCN Oceanalithiumlimited 0% -2% 7% -82% 0.061 $3,298,667 A11 Atlantic Lithium -3% -3% -2% -16% 0.3675 $246,874,240 CMD Cassius Mining Ltd 0% 0% -67% -67% 0.011 $5,962,049 VSR Voltaic Strategic 0% -5% 19% 12% 0.019 $9,178,974 SGQ St George Min Ltd 0% 5% -12% -67% 0.022 $21,747,890 LLO Lion One Metals Ltd 0% 0% 0% -31% 0.62 $9,669,967 PAT Patriot Lithium 0% 3% -25% -71% 0.075 $5,221,285 PL3 Patagonia Lithium 0% -7% 13% 0% 0.13 $6,386,705 BUR Burleyminerals 7% 5% -16% -75% 0.059 $5,681,322 CHR Charger Metals 4% 18% -4% -56% 0.13 $9,677,531 RMX Red Mount Min Ltd 0% 0% 0% -50% 0.002 $5,347,152 DLI Delta Lithium 2% 2% 20% -12% 0.325 $228,290,285 LM1 Leeuwin Metals Ltd 1% 6% -7% 0% 0.085 $3,935,540 ENT Enterprise Metals 0% 0% 0% -63% 0.003 $2,405,913 FIN FIN Resources Ltd -5% 0% 27% 27% 0.019 $12,985,374 DTM Dart Mining NL 0% 0% 8% -63% 0.014 $3,186,115 NIS Nickelsearch -3% 3% -14% -58% 0.032 $7,046,901 EG1 Evergreenlithium -9% -9% 5% 0% 0.105 $6,466,450 MAN Mandrake Res Ltd -1% 3% -3% -7% 0.038 $23,706,757 FBM Future Battery 0% -10% 9% 28% 0.06 $32,025,359 LPM Lithium Plus -6% -14% -9% -40% 0.155 $14,188,053 KOB Kobaresourceslimited 4% 9% -25% -23% 0.12 $14,997,917 EMC Everest Metals Corp -1% 1% 4% -1% 0.079 $13,142,649 LRD Lordresourceslimited 0% -4% -6% -74% 0.051 $1,893,738 IEC Intra Energy Corp 0% -20% 0% -67% 0.002 $3,381,563 REC Rechargemetals 2% -2% -22% -59% 0.062 $6,792,470 SLM Solismineralsltd -5% -13% -13% -22% 0.105 $8,588,497 AZS Azure Minerals 0% 0% 0% 1168% 3.615 $1,660,420,062 DYM Dynamicmetalslimited 2% 5% 24% 50% 0.21 $7,380,000 TOR Torque Met 0% -3% -17% 36% 0.15 $22,958,028 SBR Sabre Resources 0% 6% -10% -34% 0.019 $7,110,977 ICL Iceni Gold -8% -8% -39% -74% 0.023 $6,164,026 TMX Terrain Minerals 0% 0% 0% -20% 0.004 $5,726,683 MHC Manhattan Corp Ltd 0% 20% 0% -50% 0.003 $8,810,939 MHK Metalhawk. -3% 6% -3% -42% 0.07 $7,157,840 NKL Nickelxltd -3% -11% -13% -46% 0.033 $2,985,716 TMB Tambourahmetals -3% 0% 0% -2% 0.084 $7,215,811 ANX Anax Metals Ltd 10% 10% 16% -67% 0.022 $10,848,959 PMT Patriotbatterymetals -1% 10% 28% -28% 1.0025 $581,495,966 BM8 Battery Age Minerals -11% -14% -14% -68% 0.12 $12,387,643 L1M Lightning Minerals 0% -8% -7% -54% 0.066 $2,786,854 ADG Adelong Gold Limited 0% 0% -11% -64% 0.004 $3,521,956 TOR Torque Met 0% -3% -17% 36% 0.15 $22,958,028 AL8 Alderan Resource Ltd 0% -20% 0% -43% 0.004 $4,427,445 OZM Ozaurum Resources -26% -18% -27% 20% 0.054 $11,588,750 FL1 First Lithium Ltd -2% 17% -14% 36% 0.245 $17,512,917 PLN Pioneer Lithium 0% -17% 0% 0% 0.135 $3,837,375 WYX Western Yilgarn NL -3% 0% -30% -38% 0.061 $3,918,128 RDN Raiden Resources Ltd 4% 0% -8% 532% 0.024 $61,101,457 PFE Panteraminerals -6% -14% -15% -54% 0.044 $12,029,021 GRE Greentechmetals -5% 10% 36% 111% 0.285 $24,923,993 OLY Olympio Metals Ltd 4% -1% 12% -32% 0.085 $5,761,462 SUM Summitminerals -6% -10% -23% -57% 0.06 $3,050,056 JBY James Bay Minerals 0% 0% -18% 0% 0.155 $5,028,975 SCN Scorpion Minerals 4% -13% 40% -56% 0.028 $11,055,317 JNO Juno 5% 2% -22% -26% 0.063 $10,916,716 CC9 Chariot Corporation 7% -15% -31% 0% 0.235 $17,992,999 OBM Ora Banda Mining Ltd 0% -9% 6% 104% 0.255 $470,188,282 RON Roninresourcesltd 0% 0% -16% -30% 0.105 $3,866,626 CXB0 ASRA MINERALS LTD. 0% 0% -29% -60% 0.000025 $4,159,989 ASR Asra Minerals Ltd 0% 0% -17% -58% 0.005 $8,319,979 PFE Panteraminerals -6% -14% -15% -54% 0.044 $12,029,021 TG6 Tgmetalslimited 13% 5% -9% 115% 0.215 $10,276,372 HAW Hawthorn Resources -1% -9% -15% -20% 0.07 $23,786,109 KM1 Kalimetalslimited 2% -3% 6% 0% 0.44 $32,827,101 AEV Avenira Limited 0% 0% -10% -25% 0.009 $19,733,144 DVP Develop Global Ltd -2% -2% 3% -18% 2.45 $609,060,488
CHARGED
Lepidico (ASX:LPD) +20%
TG Metals (ASX:TG6) +13%
RUNNING LOW
OzAurum Resources (ASX:OZM) -26%
Kula Gold (ASX:KGD) -22%
Bulletin Resources (ASX:BNR) -13%
The post Eye on Lithium: The market is ‘levelling out’. That’s a bottom, right? Sure looks like one appeared first on Stockhead.
