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High Voltage: EVs are still selling but LFP growth cuts nickel and manganese deep

  • 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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Weekly Small Cap Standouts

 

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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