• If the Chairman of Chinese EV-making titan BYD is to be believed, demand for EVs in China is about to explode higher
• … which would be a huge boost for lithium demand
• Speaking of exploding higher, Black Mountain-lithium-hunting junior Chariot (CC9), anyone?
Where’s lithium at today? We’ll start with spot pricing poured through a Chinese-built filter. Over to you Lithium Price Bot…
2024-03-21#Lithium Carbonate 99.5% Min China Spot
Price: $15,621.94
1 day: $0.00 (0.0%)
YTD: 14.19%#Spodumene Concentrate (6%, CIF China)
Price: $1,079.00
1 day: $0.0 (0.0%)
YTD: -17.95%
Sponsored by @portofino_porhttps://t.co/PsorY8yWFa
— Lithium Price Bot (@LithiumPriceBot) March 21, 2024
Both futures and spot lithium pricings have staged a slight recovery after a bit of a recent dip, but it’s all looking a tad unpredictable at the moment.
Sure, lithium looks to have levelled out, bottomed even, this year, but erring on the side of caution a while longer yet mightn’t prove to be the worst non-professionally financially advised idea.
(Not unprofessional, mind… non-professional. I’m sure there’s a difference.)
Perhaps caution means a closer investor’s eye view of a couple of the ASX’s largest lithium stocks, such as Mineral Resources (ASX:MIN) and Pilbara Minerals (ASX:PLS).
MinRes is up about 16% over the past month and has been highly active in the local lithium arena lately, cutting deals with Poseidon Nickel (purchase of Lake Johnston processing facilities to retrofit to lithium) and Lord Resources (farm-in agreement for 40% of Horse Rocks project earnings).
While PLS is up about 11% over the same period and is viewed by Morgans analysts as a buy this month, as the producer ploughs ahead on expansion plans with a handy $2.1bn war chest (as of end of December).
Meanwhile, here’s something…
NEV penetration rate in China to increase by 50%…
… in just three months?
So says BYD chairman Wang Chuanfu about new energy vehicles (BEVs and PHEVs), who was speaking late last week at the China EV 100 Forum.
He’s upped that timeframe, because about a month ago he was making the 50% sales increase with the end of 2024 in mind.
“The penetration rate of NEVs crossed 48.2 percent last week, and if it continues at this rate, I estimate that the penetration could cross 50 percent in the next three months,” said Wang, per the CNev Post.
China’s monthly NEV penetration rate exceeded 40 per cent in 2023.
Even if China’s NEV penetration rises from 35 per cent last year to just45 per cent in 2024, it would mean an additional 2 million NEV sales, noted Wang.
Both scenarios, if played out, would be a huge boost for lithium demand.
Meanwhile, meanwhile… back to the ASX…
Swing high, sweet Chariot
Meanwhile, in the lower end of ASX Lithium Town, turning heads today is Chariot Corporation (ASX:CC9), which has a +31% 24-hour gain at the time of writing.
Earlier, Stockhead ressie expert Reubs was trying to ascertain why. I just had a look around the traps, too, and nope… I’m certainly none the wiser.
We’ll revert to: “what he said”, which was this:
A monster morning for lithium hunter CC9, which is currently focused on its Black Mountain hard rock and Resurgent claystone projects, both in the USA.
Today’s share price spike on no news might have something to do with this:
The Thacker Pass project, owned by Lithium Americas (NYSE:LAC), recently scored a US$2.26 billion loan from the US government.
CC9‘s Resurgent project is right next door, as is Jindalee Lithium’s (ASX:JLL) more advanced McDermitt project.
Meanwhile JLL is down marginally in morning trade, which prob means the Thacker Pass cash splash isn’t the news stoking CC9’s share price. Huh.
Could it be the magic touch of Barry Fitz?
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 4.30pm.)
Stocks missing from this list? Email [email protected]
CODE COMPANY 24 HR WEEK MONTH YEAR PRICE MARKET CAP ADV Ardiden Ltd 3% 11% 0% -40% 0.155 $9,377,626 AGY Argosy Minerals Ltd -3% -15% 32% -69% 0.145 $210,661,125 1MC Morella Corporation 0% 0% -14% -63% 0.003 $18,536,398 AML Aeon Metals Ltd. -25% 0% -14% -76% 0.006 $8,771,205 ASN Anson Resources Ltd -1% -7% 9% -52% 0.093 $120,952,451 AVZ AVZ Minerals Ltd 0% 0% 0% 0% 0.78 $2,752,409,203 CXO Core Lithium 0% -18% -27% -80% 0.165 $352,594,365 EMH European Metals Hldg 0% -2% -8% -53% 0.285 $35,448,468 EUR European Lithium Ltd 3% 13% -10% 15% 0.077 $104,567,938 GLN Galan Lithium Ltd 8% -2% 26% -58% 0.415 $149,896,610 INF Infinity Lithium -1% -7% -11% -30% 0.07 $32,844,039 INR Ioneer Ltd 6% 3% 36% -40% 0.17 $337,921,944 JLL Jindalee Lithium Ltd 5% 0% -12% -67% 0.78 $44,762,687 LIT Lithium Australia 0% 4% 0% -15% 0.029 $35,446,458 LKE Lake Resources 1% -28% -45% -86% 0.069 $111,362,314 LPD Lepidico Ltd -9% -17% -17% -55% 0.005 $42,010,694 LPI Lithium Pwr Int Ltd 0% 0% 4% 95% 0.565 $361,898,974 LTR Liontown Resources 1% -10% 6% -16% 1.25 $3,004,828,169 MIN Mineral Resources. 2% 3% 16% -10% 69.04 $13,241,447,276 MLS Metals Australia 9% 0% -20% -33% 0.024 $15,562,130 AKE Allkem Limited 0% -100% -100% -100% 0 $6,304,350,967 PLL Piedmont Lithium Inc 3% -5% -13% -75% 0.195 $72,928,175 PLS Pilbara Min Ltd 1% -6% 11% 14% 3.95 $11,736,924,986 QPM Queensland Pacific 2% 0% 10% -61% 0.043 $84,526,693 PSC Prospect Res Ltd 3% 6% 14% -45% 0.082 $37,066,557 RLC Reedy Lagoon Corp. 0% 0% 0% -31% 0.004 $2,478,163 SYA Sayona Mining Ltd 0% -7% -36% -81% 0.038 $391,145,249 TKL Traka Resources 0% 33% 33% -58% 0.002 $3,501,317 TON Triton Min Ltd 0% -12% -17% -50% 0.015 $23,420,890 VUL Vulcan Energy -1% -6% 36% -51% 2.85 $495,570,263 GL1 Globallith 3% -11% 2% -54% 0.535 $135,337,955 BMM Balkanminingandmin -8% -10% -18% -75% 0.061 $4,688,674 LEL Lithenergy -3% -10% 41% -1% 0.55 $61,020,886 ARN Aldoro Resources 0% 0% -18% -63% 0.078 $10,500,652 NMT Neometals Ltd 3% -23% 15% -72% 0.155 $93,421,547 IGO IGO Limited -3% -3% 5% -38% 7.33 $5,740,090,023 AAJ Aruma Resources Ltd 0% 6% 13% -67% 0.018 $3,544,047 PAM Pan Asia Metals 0% 0% 0% -54% 0.16 $26,850,684 AX8 Accelerate Resources 3% 17% 21% 48% 0.034 $20,129,054 AM7 Arcadia Minerals 0% 0% 21% -67% 0.07 $7,633,507 AS2 Askarimetalslimited 0% -2% 6% -83% 0.084 $6,685,368 BYH Bryah Resources Ltd 0% 25% 0% -44% 0.01 $4,354,535 EMS Eastern Metals 0% 0% -28% -53% 0.029 $2,390,361 FG1 Flynngold -9% -2% -24% -51% 0.041 $7,386,341 FRS Forrestaniaresources -6% -11% -23% -82% 0.017 $2,912,143 GSM Golden State Mining 0% -17% -9% -71% 0.01 $2,793,706 IMI Infinitymining -1% -5% -35% -59% 0.071 $8,550,244 LRV Larvottoresources -4% 14% 13% -45% 0.072 $16,770,873 MMC Mitremining 4% 20% 38% 59% 0.365 $31,207,720 RAG Ragnar Metals Ltd -5% 0% -10% 42% 0.019 $9,479,619 CTN Catalina Resources -25% -25% -25% -25% 0.003 $4,953,948 TMB Tambourahmetals 8% -9% -22% -18% 0.082 $6,303,467 TEM Tempest Minerals 0% 11% 43% -57% 0.01 $5,191,244 EMC Everest Metals Corp 1% -4% 0% 7% 0.08 $12,978,366 WCN White Cliff Min Ltd 0% -7% -18% 40% 0.014 $22,741,424 WML Woomera Mining Ltd 11% 25% 0% -58% 0.005 $5,481,625 AZL Arizona Lithium Ltd 4% 0% 4% -43% 0.027 $99,096,854 CRR Critical Resources 0% -6% -6% -59% 0.015 $26,667,754 KGD Kula Gold Limited 13% 13% -10% -47% 0.009 $3,699,695 LRS Latin Resources Ltd 3% -9% -3% 70% 0.195 $531,889,698 PNN Power Minerals Ltd 0% 6% 13% -45% 0.18 $15,727,698 WR1 Winsome Resources -2% -2% 22% -35% 0.9 $175,522,247 KZR Kalamazoo Resources -1% -4% -22% -36% 0.086 $15,207,908 MTM MTM Critical Metals 1% -3% -18% -24% 0.075 $9,197,930 QXR Qx Resources Limited 0% -11% -15% -39% 0.017 $18,871,324 SCN Scorpion Minerals -3% 31% 111% -37% 0.038 $15,968,791 AZI Altamin Limited -4% -11% -2% -36% 0.048 $21,942,452 ENT Enterprise Metals 0% 0% 0% -63% 0.003 $2,405,913 KAI Kairos Minerals Ltd 0% 0% -7% -16% 0.013 $34,071,858 STM Sunstone Metals Ltd 0% 0% 0% -63% 0.011 $38,507,167 PGD Peregrine Gold -5% -16% -13% -47% 0.21 $14,867,253 AVW Avira Resources Ltd 0% 0% -33% -50% 0.001 $2,133,790 NVA Nova Minerals Ltd 6% 2% 8% -37% 0.28 $55,885,866 GT1 Greentechnology 0% -9% 3% -75% 0.15 $47,812,815 BNR Bulletin Res Ltd -5% -11% -23% -31% 0.062 $19,084,866 CAI Calidus Resources 0% 0% 3% -27% 0.165 $101,086,600 MRR Minrex Resources Ltd -7% -7% 0% -38% 0.013 $15,188,145 A8G Australasian Metals 0% -1% -19% -54% 0.071 $3,700,555 EFE Eastern Resources 13% 13% 13% -18% 0.009 $9,935,572 MQR Marquee Resource Ltd -5% 0% 0% 0% 0.02 $8,681,072 SRZ Stellar Resources 0% 0% 100% 27% 0.014 $20,107,963 LSR Lodestar Minerals 0% 0% 0% -60% 0.002 $4,046,795 NWM Norwest Minerals 0% -4% -21% -18% 0.027 $9,702,977 AOA Ausmon Resorces 50% 0% 0% -25% 0.003 $2,117,999 VKA Viking Mines Ltd 0% 10% -8% 22% 0.011 $11,277,843 IPT Impact Minerals -7% 0% 8% 75% 0.014 $42,970,558 SRI Sipa Resources Ltd 0% 0% -14% -27% 0.019 $4,335,005 VMC Venus Metals Cor Ltd 3% -1% -8% 13% 0.089 $16,316,667 RGL Riversgold 0% 0% 0% -47% 0.008 $7,741,292 ZNC Zenith Minerals Ltd 0% 1% 0% -50% 0.095 $33,476,184 RAS Ragusa Minerals Ltd 0% -22% 16% -62% 0.029 $4,135,365 G88 Golden Mile Res Ltd 9% 0% 0% -20% 0.012 $4,523,451 EPM Eclipse Metals 0% -14% -14% -60% 0.006 $13,257,933 EVR Ev Resources Ltd 0% 0% -21% -15% 0.011 $14,533,986 WC8 Wildcat Resources -1% 2% 31% 2300% 0.72 $874,759,116 MNS Magnis Energy Tech 0% 0% 0% -86% 0.042 $50,378,922 RIO Rio Tinto Limited 0% 4% -5% 6% 121.14 $45,028,526,758 THR Thor Energy PLC 0% -4% -8% -52% 0.024 $4,420,131 YAR Yari Minerals Ltd 0% 17% -13% -61% 0.007 $3,376,505 MXR Maximus Resources -3% -11% -9% -6% 0.031 $10,270,265 DRE Dreadnought Resources Ltd 0% 0% -11% -73% 0.017 $59,186,740 MM1 Midasmineralsltd 7% -4% -11% -47% 0.08 $6,513,543 M2R Miramar 0% 27% 0% -56% 0.019 $2,828,521 LLI Loyal Lithium Ltd 9% 7% 15% 33% 0.305 $23,320,449 LRD Lordresourceslimited -13% 25% 22% -65% 0.066 $2,822,041 WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031 AUN Aurumin 0% -8% -13% 6% 0.034 $14,864,395 ZEO Zeotech Limited -4% -7% -16% -56% 0.027 $48,535,846 ALY Alchemy Resource Ltd -13% -7% -13% -53% 0.007 $9,424,610 LIS Lisenergylimited 19% 7% -3% -30% 0.155 $83,226,030 GW1 Greenwing Resources -1% -4% -13% -69% 0.07 $12,868,855 KTA Krakatoa Resources 0% -18% -40% -68% 0.009 $4,248,965 TYX Tyranna Res Ltd 0% 0% -21% -42% 0.011 $36,161,679 DAF Discovery Alaska Ltd 6% 13% -10% -40% 0.018 $3,981,990 FTL Firetail Resources 0% -14% -4% -59% 0.043 $6,402,939 IR1 Irismetals -7% -3% -23% -57% 0.495 $68,653,540 LNR Lanthanein Resources 0% 0% -50% -81% 0.003 $5,864,727 DAL Dalaroometalsltd 0% -20% -20% -73% 0.016 $1,324,000 TKM Trek Metals Ltd 0% -3% -17% -44% 0.035 $17,957,690 CY5 Cygnus Metals Ltd 0% 6% -19% -78% 0.054 $15,744,194 TUL Tulla Resources 0% -100% -100% -100% 0 $118,262,971 WES Wesfarmers Limited 1% -1% 6% 39% 67.04 $75,037,168,580 LLL Leolithiumlimited 0% 0% 0% 12% 0.505 $498,553,663 OCN Oceanalithiumlimited 0% -5% 5% -83% 0.058 $3,136,437 A11 Atlantic Lithium 4% -1% -4% -19% 0.39 $243,625,895 CMD Cassius Mining Ltd 0% -9% -70% -58% 0.01 $5,420,045 VSR Voltaic Strategic 6% 6% 0% 19% 0.019 $8,695,870 SGQ St George Min Ltd 5% 0% -4% -62% 0.022 $20,759,349 LLO Lion One Metals Ltd 0% 0% 0% -32% 0.62 $9,669,967 PAT Patriot Lithium 14% 18% -9% -66% 0.091 $5,569,371 PL3 Patagonia Lithium 0% 0% -24% 0% 0.13 $6,386,705 BUR Burleyminerals 0% 18% -14% -68% 0.06 $6,257,805 CHR Charger Metals 4% 13% 0% -48% 0.13 $9,677,531 RMX Red Mount Min Ltd 0% 0% 0% -33% 0.002 $5,347,152 DLI Delta Lithium 2% -4% 2% 0% 0.32 $224,723,250 LM1 Leeuwin Metals Ltd 0% 8% -5% 0% 0.086 $4,029,244 ENT Enterprise Metals 0% 0% 0% -63% 0.003 $2,405,913 FIN FIN Resources Ltd 0% -10% 20% 50% 0.018 $11,686,837 DTM Dart Mining NL 6% 29% 38% -52% 0.018 $3,868,854 NIS Nickelsearch 0% -9% -15% -64% 0.029 $6,192,731 EG1 Evergreenlithium 4% -1% -1% 0% 0.099 $5,341,850 MAN Mandrake Res Ltd 0% -8% -5% -8% 0.037 $22,783,117 FBM Future Battery 2% 3% 2% 9% 0.062 $32,559,115 XTC XTC Lithium Limited 0% 19900% 19900% -67% 0.2 $17,528,272 LPM Lithium Plus 7% -12% -14% -35% 0.15 $12,038,348 KOB Kobaresourceslimited 5% -9% -30% -22% 0.105 $13,041,667 EMC Everest Metals Corp 1% -4% 0% 7% 0.08 $12,978,366 LRD Lordresourceslimited -13% 25% 22% -65% 0.066 $2,822,041 IEC Intra Energy Corp 0% 0% 0% -67% 0.002 $3,381,563 REC Rechargemetals 0% -16% -39% -61% 0.054 $7,516,258 SLM Solismineralsltd 0% -2% -23% -20% 0.096 $7,495,416 AZS Azure Minerals 0% -1% 0% 1241% 3.62 $1,660,420,062 DYM Dynamicmetalslimited 3% -5% 6% 27% 0.19 $6,660,000 TOR Torque Met -3% -9% -15% 32% 0.145 $22,958,028 SBR Sabre Resources 12% 6% -10% -21% 0.019 $6,362,453 ICL Iceni Gold 0% -4% -39% -74% 0.023 $5,670,904 TMX Terrain Minerals -11% 0% -11% -20% 0.004 $6,442,518 MHC Manhattan Corp Ltd -17% 0% -17% -50% 0.0025 $8,810,939 MHK Metalhawk. -9% -2% -15% -47% 0.064 $6,959,011 NKL Nickelxltd 0% -17% -17% -51% 0.03 $2,634,455 TMB Tambourahmetals 8% -9% -22% -18% 0.082 $6,303,467 ANX Anax Metals Ltd -4% 15% 10% -62% 0.023 $13,018,751 PMT Patriotbatterymetals 3% 1% 11% -17% 0.94 $526,800,801 BM8 Battery Age Minerals 0% -22% -28% -72% 0.105 $9,634,833 L1M Lightning Minerals 3% -3% -4% -55% 0.068 $2,786,854 ADG Adelong Gold Limited 0% 0% -20% -64% 0.004 $3,521,956 TOR Torque Met -3% -9% -15% 32% 0.145 $22,958,028 AL8 Alderan Resource Ltd 0% -10% 0% -36% 0.0045 $4,980,876 OZM Ozaurum Resources -2% -37% -33% 24% 0.052 $8,413,750 FL1 First Lithium Ltd 0% 4% -6% 39% 0.25 $17,512,917 PLN Pioneer Lithium 0% -21% -28% 0% 0.13 $3,695,250 WYX Western Yilgarn NL 0% 11% -31% -32% 0.061 $3,793,743 RDN Raiden Resources Ltd -4% 0% -4% 558% 0.025 $69,071,213 PFE Panteraminerals 0% -4% -17% -53% 0.044 $11,261,211 GRE Greentechmetals 0% -5% 23% 123% 0.29 $24,093,193 OLY Olympio Metals Ltd -15% -14% -22% -42% 0.07 $5,761,462 SUM Summitminerals 0% -6% -19% -52% 0.063 $3,002,399 JBY James Bay Minerals 3% 0% -17% 0% 0.15 $4,704,525 SCN Scorpion Minerals -3% 31% 111% -37% 0.038 $15,968,791 JNO Juno 0% -2% -20% -28% 0.061 $11,098,661 CC9 Chariot Corporation 27% 10% -7% 0% 0.28 $17,992,999 OBM Ora Banda Mining Ltd 2% -8% -2% 75% 0.245 $442,530,148 RON Roninresourcesltd 0% -5% -20% -29% 0.1 $3,682,501 CXB0 ASRA MINERALS LTD. 0% 0% -17% 0% 0.000025 $4,159,989 ASR Asra Minerals Ltd 0% 0% 0% -55% 0.005 $8,319,979 PFE Panteraminerals 0% -4% -17% -53% 0.044 $11,261,211 TG6 Tgmetalslimited -2% 18% -13% 125% 0.225 $12,439,818 HAW Hawthorn Resources 7% 6% -10% -14% 0.075 $23,451,093 KM1 Kalimetalslimited 4% -2% 1% 0% 0.425 $31,300,259 AEV Avenira Limited 0% 0% -10% -31% 0.009 $19,733,144 DVP Develop Global Ltd 0% 3% -2% -15% 2.4 $579,942,059 LTM Arcadium Lithium PLC 1% -4% -6% 0% 7 $2,799,981,091 LRD Lordresourceslimited -13% 25% 22% -65% 0.066 $2,822,041
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