High Voltage: Lithium prices jump, but supply chain scares in Chile and China may just be a hiccup
China's CATL also recently closed the Jianxiawo mine impacting sentiment further
Benchmark Minerals Intelligence says price moves don't reflect shift in market fundamentals
Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.
Frailties in the lithium supply chain have been put on display for the second time in a week after Albemarle suspended operations in Chile following an acid tank explosion at a chemical plant in La Negra.
The news sent prices climbing as high as 80,000–87,000 RMB/tonne ($11,100–12,100) for EXW China lithium carbonate, according to Benchmark Minerals Intelligence. It came hot on the heels of the suspension of CATL's Jianxiawo mine late last week, with supply side issues sending speculative interest in both hard rock and chemical lithium products sharply higher.
The actual impact on production from Albemarle's Chilean salt lakes appears to be limited to one of three production lines which were forced offline for several days, and the US giant says its processing facility is operating as normal, with no sales to be impacted.
Albemarle is projected to produce 67,000 tonnes LCE from its Chilean operations in 2025.
But markets are anxious at the moment, with news of production issues driving futures in the key Guangzhou exchange higher.
Benchmark estimates CATL's Jianxiawo lepidolite operation produces around 3% of the world's lithium raw material supply, making the suspension a bellwether for sentiment on lithium pricing, which has been crunched by a supply flood following 2022's price boom.
It's the second time the mine has been shut in less than a year. This time it will reportedly last for at least three months and it's due to non-compliance with permitting requirements.
'So far procurement activity has been slow as participants evaluate the impacts of recent news of supply disruptions,' BMI said.
'Indeed, with significant inventories existing in China – estimated by Benchmark at roughly 130,000 tonne LCE as of July – this week's price movements are primarily being driven by sentiment and reflect the speculative nature of lithium trading in China, rather than signalling a significant shift in market fundamentals.'
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 >>>
Code Company Price % Week % Month % Six Month % Year Market Cap
XTC XTC Lithium Limited 0.2 19900% 19900% 19900% 19900% $17,528,272
OD6 Od6Metalsltd 0.09 233% 210% 84% 105% $10,911,821
BMM Bayanminingandmin 0.145 101% 142% 222% 222% $14,196,703
ETM Energy Transition 0.082 86% 71% 26% 242% $139,581,306
LIN Lindian Resources 0.225 80% 142% 125% 96% $254,435,781
VRX VRX Silica Ltd 0.13 51% 60% 271% 294% $97,149,427
AGY Argosy Minerals Ltd 0.041 46% 52% 58% 11% $62,972,758
KNG Kingsland Minerals 0.165 43% 112% 38% -3% $10,521,332
CRR Critical Resources 0.007 40% 75% 40% 0% $19,390,598
KTA Krakatoa Resources 0.015 36% 36% 50% 50% $10,851,876
ZEU Zeus Resources Ltd 0.019 36% 0% 138% 111% $14,348,733
ASR Asra Minerals Ltd 0.002 33% 0% -33% -60% $8,000,396
AXE Archer Materials 0.36 31% 36% -1% 53% $86,647,984
CXO Core Lithium 0.125 30% 19% 40% 36% $257,161,865
VTM Victory Metals Ltd 1.73 30% 92% 381% 368% $213,491,394
SLM Solismineralsltd 0.11 29% 33% -4% -8% $15,518,820
LU7 Lithium Universe Ltd 0.009 29% 29% 13% -24% $9,687,837
MTC Metalstech Ltd 0.18 29% 38% 44% -8% $38,859,618
PLS Pilbara Min Ltd 2.19 28% 41% -2% -23% $6,886,600,250
GT1 Greentechnology 0.041 28% 78% -33% -37% $20,432,312
GL1 Globallith 0.245 26% 36% 2% 7% $65,433,031
BYH Bryah Resources Ltd 0.005 25% -29% 25% 0% $5,142,663
EMT Emetals Limited 0.005 25% 67% 25% 25% $5,100,000
S2R S2 Resources 0.086 25% 25% 23% -18% $45,132,214
KZR Kalamazoo Resources 0.13 24% 44% 60% 103% $30,760,046
GW1 Greenwing Resources 0.037 23% 42% 3% 3% $11,316,817
GED Golden Deeps 0.032 23% 45% 33% 7% $5,668,022
FRB Firebird Metals 0.16 23% 52% 67% 60% $19,930,596
ARU Arafura Rare Earths 0.22 22% 13% 52% 38% $517,509,025
EVR Ev Resources Ltd 0.011 22% 0% 120% 167% $24,502,537
PNT Panthermetalsltd 0.011 22% 10% 57% -56% $3,309,950
OCN Oceanalithiumlimited 0.088 21% 42% 226% 211% $14,278,306
RAS Ragusa Minerals Ltd 0.024 20% 71% 20% 50% $4,276,771
AZI Altamin Limited 0.024 20% 33% -4% -20% $13,788,069
CRI Critica Ltd 0.018 20% 20% 0% 0% $48,567,279
IDA Indiana Resources 0.043 19% 17% 39% 107% $27,680,496
MNB Minbos Resources Ltd 0.062 19% 41% 38% -13% $61,428,126
GCM Green Critical Min 0.0355 18% 54% 109% 1675% $92,448,312
DM1 Desert Metals 0.026 18% 24% 13% 13% $11,499,451
LML Lincoln Minerals 0.009 18% 45% 57% 89% $17,020,558
BM8 Battery Age Minerals 0.079 18% 49% 4% -25% $10,170,722
SYA Sayona Mining Ltd 0.027 17% 50% 17% 4% $311,668,992
EGR Ecograf Limited 0.34 17% 6% 196% 251% $138,540,705
M79 Mammothmineralsltd 0.11 17% 41% 69% 53% $49,008,077
RGL Riversgold 0.0035 17% -13% -30% -13% $6,734,850
GRL Godolphin Resources 0.014 17% 27% -18% 8% $6,284,226
ZNC Zenith Minerals Ltd 0.043 16% 30% 2% -2% $22,766,586
IGO IGO Limited 5.44 16% 18% 12% 8% $4,043,810,121
LPM Lithium Plus 0.08 16% 31% 31% -18% $9,963,000
INR Ioneer Ltd 0.1275 16% 21% -23% 2% $346,030,860
CMO Cosmometalslimited 0.022 16% -4% 12% -12% $8,721,230
BOA BOA Resources Ltd 0.023 15% 28% 5% 15% $2,837,115
LYC Lynas Rare Earths 13.66 15% 41% 97% 124% $12,750,140,865
WC8 Wildcat Resources 0.195 15% 18% -11% -19% $254,024,003
AAJ Aruma Resources Ltd 0.008 14% 0% -27% -47% $2,623,524
SMX Strata Minerals 0.016 14% 33% -54% -30% $3,917,635
TLG Talga Group Ltd 0.525 14% 31% 12% 17% $225,371,865
PGD Peregrine Gold 0.325 14% 71% 160% 76% $27,999,755
LSR Lodestar Minerals 0.019 14% 76% 76% -52% $6,778,305
TMB Tambourahmetals 0.041 14% 95% 46% -9% $6,784,518
LKE Lake Resources 0.042 14% 35% 8% 27% $79,512,291
VR8 Vanadium Resources 0.042 14% 121% 56% -7% $25,613,385
LLM Loyal Metals Ltd 0.21 14% 0% 150% 121% $27,456,277
SRL Sunrise 1.345 14% 0% 364% 213% $158,873,759
KM1 Kalimetalslimited 0.17 13% 62% 55% 3% $14,084,068
MRR Minrex Resources Ltd 0.009 13% 6% 13% 13% $9,763,808
WA1 Wa1Resourcesltd 19.34 12% 18% 44% 42% $1,322,194,108
ARR American Rare Earths 0.365 12% 40% 24% 38% $207,957,871
LNRDB Lanthanein Resources 0.037 12% 23% -45% -45% $3,465,891
LNRDB Lanthanein Resources 0.037 12% 23% -45% -45% $3,465,891
PLL Piedmont Lithium Inc 0.14 12% 33% 12% 27% $67,063,990
M24 Mamba Exploration 0.0145 12% 4% 4% 45% $4,279,901
PMT Patriotbatterymetals 0.49 11% 48% 61% -2% $269,613,509
BCA Black Canyon Limited 0.35 11% 49% 400% 393% $45,210,823
WCN White Cliff Min Ltd 0.0255 11% 11% 34% 70% $58,521,268
MIN Mineral Resources. 36.72 11% 34% 8% -24% $7,027,505,279
FGR First Graphene Ltd 0.042 11% 50% -36% -15% $31,155,815
TLM Talisman Mining 0.16 10% 10% -18% -30% $30,131,256
CHR Charger Metals 0.055 10% 0% -5% -7% $4,258,114
AVL Aust Vanadium Ltd 0.011 10% 38% -15% -31% $94,981,239
IMI Infinitymining 0.011 10% 0% 10% -21% $4,653,174
NVX Novonix Limited 0.495 10% 25% -8% -20% $320,504,477
RON Roninresourcesltd 0.175 9% 30% -10% 52% $7,065,627
NTU Northern Min Ltd 0.036 9% 16% 112% 29% $284,143,298
MQR Marquee Resource Ltd 0.012 9% 33% -8% 33% $6,453,911
DRE Dreadnought Resources Ltd 0.012 9% 20% 9% -25% $60,954,000
WR1 Winsome Resources 0.18 9% -22% -58% -62% $45,134,163
A4N Alpha Hpa Ltd 0.9525 9% 9% 4% 14% $1,091,573,052
AR3 Austrare 0.125 9% 108% 57% 74% $26,547,516
EV1 Evolutionenergy 0.013 8% -13% -19% -52% $4,714,456
ILU Iluka Resources 6.26 8% 28% 32% 12% $2,668,201,349
ALK Alkane Resources Ltd 0.835 8% 27% 34% 92% $1,119,199,684
CLA Celsius Resource Ltd 0.007 8% 0% -22% -42% $21,948,419
GLN Galan Lithium Ltd 0.145 7% 4% 21% 24% $139,772,833
HRE Heavy Rare Earths 0.044 7% -10% 76% 43% $9,153,491
BKT Black Rock Mining 0.03 7% 7% 0% -46% $39,950,597
AM7 Arcadia Minerals 0.03 7% 67% 43% -23% $3,521,503
FG1 Flynngold 0.03 7% -9% 3% 7% $11,739,494
MEI Meteoric Resources 0.15 7% 7% 85% 43% $396,140,132
CHN Chalice Mining Ltd 1.7175 7% 4% 44% 75% $655,642,921
1MC Morella Corporation 0.016 7% 7% -20% -52% $5,710,649
ADV Ardiden Ltd 0.165 6% 3% 3% 32% $10,315,388
VML Vital Metals Limited 0.1 6% 5% 0% -20% $11,554,128
INF Infinity Metals Ltd 0.017 6% 13% -37% -65% $8,150,887
EFE Eastern Resources 0.034 6% 10% 26% -24% $4,287,058
LTR Liontown Resources 0.8975 6% 11% 38% 11% $2,458,554,128
ASL Andean Silver 1.48 6% 24% 32% 118% $263,511,470
SRZ Stellar Resources 0.018 6% 0% 20% 20% $37,435,510
PSC Prospect Res Ltd 0.19 6% 3% 104% 90% $129,608,628
PFE Pantera Lithium 0.019 6% -17% 0% -5% $9,475,674
E25 Element 25 Ltd 0.29 5% 29% 4% 38% $68,583,720
MEK Meeka Metals Limited 0.1475 5% 9% 28% 189% $437,355,776
HAS Hastings Tech Met 0.3 5% 7% -5% 5% $62,378,537
EMH European Metals Hldg 0.2 5% 25% 48% -5% $43,563,388
NH3 Nh3Cleanenergyltd 0.063 5% 24% 232% 294% $39,409,072
STM Sunstone Metals Ltd 0.021 5% 45% 250% 163% $126,555,754
ORN Orion Minerals Ltd 0.0105 5% -5% -25% -30% $72,816,361
NST Northern Star 17.98 5% 11% -2% 26% $25,399,594,090
BHP BHP Group Limited 41.86 5% 6% 2% 3% $211,821,155,967
RNU Renascor Res Ltd 0.067 5% 6% 24% -17% $170,391,342
PEK Peak Rare Earths Ltd 0.335 5% 8% 183% 96% $146,382,577
PEK Peak Rare Earths Ltd 0.335 5% 8% 183% 96% $146,382,577
JMS Jupiter Mines. 0.235 4% 9% 47% 9% $441,234,396
PTR Petratherm Ltd 0.36 4% 11% 44% 1614% $121,315,170
WIN WIN Metals 0.025 4% 39% 39% 25% $13,751,460
PAT Patriot Resourcesltd 0.051 4% -14% 16% 2% $8,416,145
SFR Sandfire Resources 11.69 4% 6% 8% 42% $5,380,322,199
NIC Nickel Industries 0.7575 4% 3% 0% -3% $3,299,111,265
LOT Lotus Resources Ltd 0.16 3% -3% -22% -33% $367,637,836
NWC New World Resources 0.068 3% 3% 240% 258% $243,442,936
KOB Kobaresourceslimited 0.034 3% 10% -49% -67% $6,754,834
A11 Atlantic Lithium 0.17 3% 13% -17% -39% $114,369,307
EG1 Evergreenlithium 0.034 3% 13% -58% -26% $7,999,101
SGQ St George Min Ltd 0.038 3% 6% 0% 19% $111,020,834
RAG Ragnar Metals Ltd 0.019 3% 0% 12% -5% $8,531,748
VHM Vhmlimited 0.19 3% -3% -42% -56% $49,446,141
TOR Torque Met 0.2875 3% 92% 209% 161% $147,441,601
TKM Trek Metals Ltd 0.08 3% -17% 220% 105% $48,097,240
EUR European Lithium Ltd 0.083 2% 28% 60% 98% $119,950,062
ARL Ardea Resources Ltd 0.415 2% -2% 5% -8% $87,321,360
RIO Rio Tinto Limited 115.73 2% 4% -4% 0% $43,744,118,658
DYM Dynamicmetalslimited 0.26 2% 2% -10% 79% $12,807,428
IPX Iperionx Limited 6.1 2% 22% 45% 200% $1,976,804,174
GBR Greatbould Resources 0.059 2% -5% -6% 23% $55,186,412
SYR Syrah Resources 0.295 2% 9% 24% 41% $355,688,065
CDT Castle Minerals 0.059 2% -16% -34% -51% $7,076,584
SYR Syrah Resources 0.295 2% 9% 24% 41% $355,688,065
BC8 Black Cat Syndicate 0.895 2% 15% 23% 167% $622,695,811
PNN Power Minerals Ltd 0.065 2% 12% -29% -28% $11,155,762
AEE Aura Energy 0.1625 2% 8% 30% 30% $142,520,023
DVP Develop Global Ltd 4.295 2% -7% 50% 114% $1,412,080,449
A8G Australasian Metals 0.072 1% 7% 4% -17% $4,052,281
SVM Sovereign Metals 0.74 1% 5% -8% 19% $491,673,414
S32 South32 Limited 3.005 1% -3% -16% 2% $13,781,123,470
AQD Ausquest Limited 0.043 1% -16% 2% 304% $59,877,222
ASM Ausstratmaterials 0.57 1% -2% 24% 24% $129,655,055
PVW PVW Res Ltd 0.019 0% 58% 46% -24% $3,779,191
QXR Qx Resources Limited 0.004 0% -20% 0% -33% $5,241,315
AZL Arizona Lithium Ltd 0.008 0% 33% -20% -50% $37,662,201
RIL Redivium Limited 0.004 0% 0% 0% 100% $13,609,422
COB Cobalt Blue Ltd 0.052 0% -5% -4% -21% $23,131,620
LPD Lepidico Ltd 0.002 0% 0% 0% 0% $17,178,371
MRD Mount Ridley Mines 0.0025 0% 25% 25% -75% $1,946,223
RLC Reedy Lagoon Corp. 0.002 0% 0% -33% -33% $1,553,413
STK Strickland Metals 0.14 0% -10% 94% 33% $316,730,372
MLX Metals X Limited 0.6 0% -9% 20% 60% $527,402,965
MNS Magnis Energy Tech 0.042 0% 0% 0% 0% $50,378,922
JLL Jindalee Lithium Ltd 0.475 0% 14% 150% 76% $36,740,589
SBR Sabre Resources 0.01 0% 11% 11% -23% $3,747,388
VRC Volt Resources Ltd 0.004 0% 14% 33% 33% $18,739,398
SRI Sipa Resources Ltd 0.016 0% -6% 33% 7% $8,327,966
PGM Platina Resources 0.021 0% 0% 0% 0% $13,086,787
CWX Carawine Resources 0.083 0% -13% -21% -9% $19,598,412
TKL Traka Resources 0.002 0% 100% 0% 100% $4,844,278
LIT Livium Ltd 0.0105 0% 17% -19% -48% $17,021,071
ASN Anson Resources Ltd 0.11 0% 69% 80% 16% $159,474,702
TVN Tivan Limited 0.11 0% 29% -4% 120% $218,433,638
LEL Lithenergy 0.37 0% 0% 0% 4% $41,440,581
RMX Red Mount Min Ltd 0.008 0% -11% 0% -47% $4,643,996
MRC Mineral Commodities 0.026 0% 0% 0% 0% $25,596,288
QPM QPM Energy Limited 0.032 0% -3% -44% -6% $98,367,053
LEG Legend Mining 0.007 0% -22% -22% -36% $20,401,340
G88 Golden Mile Res Ltd 0.008 0% -11% -20% -20% $4,353,983
WKT Walkabout Resources 0.095 0% 0% 0% -4% $63,769,838
TON Triton Min Ltd 0.006 0% 20% 0% -40% $9,410,332
CNJ Conico Ltd 0.007 0% 0% 0% -30% $1,905,020
SLZ Sultan Resources Ltd 0.006 0% 0% -25% -25% $1,566,501
AX8 Accelerate Resources 0.008 0% 0% -20% -20% $6,537,510
AS2 Askarimetalslimited 0.011 0% 22% -8% -48% $4,462,378
EMS Eastern Metals 0.01 0% 0% -17% -58% $1,394,262
GSM Golden State Mining 0.008 0% 14% -20% -33% $2,234,965
CTN Catalina Resources 0.004 0% 0% 22% 42% $9,704,076
TEM Tempest Minerals 0.007 0% 40% 17% -30% $7,712,565
OB1 Orbminco Limited 0.001 0% 0% -20% -60% $3,402,568
LMG Latrobe Magnesium 0.016 0% 78% -6% -53% $42,151,986
KOR Korab Resources 0.008 0% 0% 0% 0% $2,936,400
CMX Chemxmaterials 0.026 0% 0% 0% -28% $33,545,803
OMH OM Holdings Limited 0.3 0% -5% -17% -26% $229,877,040
EMN Euromanganese 0.17 0% 0% -21% -23% $9,284,626
ENT Enterprise Metals 0.003 0% 0% 0% 0% $4,113,952
ENV Enova Mining Limited 0.007 0% 0% -22% -13% $11,053,200
RBX Resource B 0.034 0% 6% 13% -15% $3,916,272
AKN Auking Mining Ltd 0.006 0% 33% 20% -50% $4,128,698
RR1 Reach Resources Ltd 0.011 0% 22% -4% 0% $9,618,745
AVW Avira Resources Ltd 0.007 0% 0% -65% -65% $1,610,000
NWM Norwest Minerals 0.012 0% -8% 8% -42% $12,361,283
THR Thor Energy PLC 0.01 0% 11% -9% -38% $7,329,898
YAR Yari Minerals Ltd 0.011 0% 0% 175% 175% $7,584,102
ODE Odessa Minerals Ltd 0.007 0% 8% 17% 133% $12,796,260
CLZ Classic Min Ltd 0.001 0% 0% 0% 0% $3,017,699
M2R Miramar 0.004 0% 0% 33% -33% $3,987,293
TAR Taruga Minerals 0.01 0% 25% 0% 43% $6,423,787
ABX ABX Group Limited 0.043 0% 13% 16% 0% $10,075,260
RR1 Reach Resources Ltd 0.011 0% 22% -4% 0% $9,618,745
AOA Ausmon Resorces 0.002 0% 0% 0% -33% $2,622,427
WC1 Westcobarmetals 0.019 0% 0% 27% -36% $4,167,590
DLI Delta Lithium 0.165 0% -11% -3% -20% $121,929,405
PBL Parabellumresources 0.056 0% 12% 30% 47% $3,488,800
L1M Lightning Minerals 0.039 0% -3% -52% -26% $4,634,275
OM1 Omnia Metals Group 0.012 0% 0% -85% -85% $2,605,100
LLL Leolithiumlimited 0.332997 0% 0% 0% 0% $401,204,047
WSR Westar Resources 0.006 0% 20% -50% -14% $2,392,349
ICL Iceni Gold 0.064 0% -2% -20% 49% $21,971,289
LCY Legacy Iron Ore 0.009 0% 13% -10% -42% $87,858,383
AMD Arrow Minerals 0.02 0% 0% -43% -67% $17,555,332
AYM Australia United Min 0.002 0% 0% -33% -33% $3,685,155
CUL Cullen Resources 0.006 0% 20% 20% -14% $4,160,411
GTE Great Western Exp. 0.012 0% 0% -60% -60% $6,813,095
HWK Hawk Resources. 0.017 0% -23% -35% -36% $4,334,871
SER Strategic Energy 0.006 0% 20% 0% -65% $5,020,150
SFM Santa Fe Minerals 0.245 0% 17% 562% 581% $17,840,603
ATM Aneka Tambang 1.13 -1% 2% 16% 10% $1,473,123
DEV Devex Resources Ltd 0.079 -1% -12% 3% -61% $34,893,563
BSX Blackstone Ltd 0.069 -1% -7% 30% 136% $118,278,699
PUR Pursuit Minerals 0.064 -2% -10% -12% -57% $7,063,044
VUL Vulcan Energy 3.76 -2% 8% -7% -4% $867,387,970
QGL Quantum Graphite 0.485 -2% 0% -3% -13% $167,319,480
WMG Western Mines 0.23 -2% -10% 77% -15% $22,353,319
SUM Summitminerals 0.043 -2% -16% -61% -80% $3,897,347
ESR Estrella Res Ltd 0.039 -3% -13% 8% 680% $78,137,761
FML Focus Minerals Ltd 0.37 -3% 1% 76% 185% $106,026,699
HAV Havilah Resources 0.18 -3% 0% -14% 0% $62,066,133
MHK Metalhawk. 0.175 -3% -57% -48% 103% $21,593,699
ARN Aldoro Resources 0.325 -3% -8% 16% 333% $70,761,376
EVG Evion Group NL 0.03 -3% 58% 25% 20% $13,047,599
GAL Galileo Mining Ltd 0.145 -3% -3% 7% -9% $28,655,614
LRV Larvottoresources 0.725 -3% 2% -13% 400% $338,889,670
SVY Stavely Minerals Ltd 0.014 -3% 0% -26% -39% $9,516,589
HAW Hawthorn Resources 0.051 -4% -7% 11% -15% $17,085,796
FBM Future Battery 0.025 -4% 14% 14% 25% $16,866,526
HMX Hammer Metals Ltd 0.025 -4% -14% -24% -32% $22,193,968
EMC Everest Metals Corp 0.115 -4% -21% -28% -8% $24,654,438
MHC Manhattan Corp Ltd 0.023 -4% 15% 15% 15% $12,819,593
CY5 Cygnus Metals Ltd 0.087 -4% 0% -36% 55% $92,503,809
RVT Richmond Vanadium 0.065 -4% -13% -57% -79% $14,458,297
REE Rarex Limited 0.021 -5% 17% 133% 50% $20,003,280
NVA Nova Minerals Ltd 0.31 -5% 3% -7% 114% $124,465,439
RXL Rox Resources 0.3 -5% 2% 33% 114% $227,794,203
NC1 Nicoresourceslimited 0.1 -5% 9% 19% -17% $12,962,310
CAE Cannindah Resources 0.019 -5% -24% -70% -63% $13,833,519
MLS Metals Australia 0.019 -5% 12% -10% 0% $14,574,390
IG6 Internationalgraphit 0.057 -5% 14% -2% -19% $11,032,825
BUR Burleyminerals 0.038 -5% -7% -21% -65% $6,998,358
FLG Flagship Min Ltd 0.056 -5% -5% 44% -43% $12,525,896
FRS Forrestaniaresources 0.18 -5% 64% 1100% 620% $59,075,883
VMC Venus Metals Cor Ltd 0.099 -6% -14% 8% 48% $19,416,740
LM1 Leeuwin Metals Ltd 0.155 -6% 19% 11% 96% $15,624,990
AXN Alliance Nickel Ltd 0.03 -6% -14% -21% -12% $21,775,188
RIE Riedel Resources Ltd 0.03 -6% 0% -3% -63% $2,564,354
QEM QEM Limited 0.028 -7% -20% -48% -80% $6,619,210
AUZ Australian Mines Ltd 0.007 -7% -7% -30% -13% $13,688,097
KGD Kula Gold Limited 0.007 -7% 0% 17% -26% $6,448,776
ITM Itech Minerals Ltd 0.028 -7% -7% -45% -58% $4,783,391
KAI Kairos Minerals Ltd 0.025 -7% -17% 39% 150% $69,816,384
REC Rechargemetals 0.012 -8% 0% -37% -61% $3,083,880
ADD Adavale Resource Ltd 0.022 -8% 10% -56% -63% $4,021,189
MAN Mandrake Res Ltd 0.021 -9% 11% -9% -28% $13,799,718
ALY Alchemy Resource Ltd 0.005 -9% 0% -38% -17% $5,890,381
BMG BMG Resources Ltd 0.01 -9% 43% -38% 18% $8,059,773
CNB Carnaby Resource Ltd 0.34 -9% -25% -8% -18% $77,652,212
CTM Centaurus Metals Ltd 0.38 -10% 9% 4% 10% $223,515,546
BNR Bulletin Res Ltd 0.047 -10% -24% 18% 0% $13,799,826
IPT Impact Minerals 0.009 -10% 29% -5% -32% $34,963,305
PVT Pivotal Metals Ltd 0.009 -10% 0% 29% -40% $8,165,033
ARV Artemis Resources 0.0045 -10% -18% -55% -50% $11,462,689
MTM Metallium Ltd 0.685 -10% 16% 234% 2262% $380,333,572
SCN Scorpion Minerals 0.017 -11% 0% 13% 0% $8,908,955
IXR Ionic Rare Earths 0.015 -12% -12% 114% 114% $90,581,085
KFM Kingfisher Mining 0.057 -14% 43% 60% 10% $3,802,755
GRE Greentechmetals 0.062 -14% 22% -6% -46% $7,030,498
1AE Auroraenergymetals 0.068 -14% 42% 51% 13% $12,176,334
NMT Neometals Ltd 0.054 -14% -26% -26% -12% $40,836,052
ANX Anax Metals Ltd 0.006 -14% -25% -40% -67% $5,296,845
DTM Dart Mining NL 0.0025 -17% -17% -64% -82% $2,396,111
SRK Strike Resources 0.029 -17% -12% 0% -6% $8,228,750
KNI Kunikolimited 0.078 -18% -10% -45% -50% $7,144,190
HLX Helix Resources 0.001 -20% 20% -60% -60% $5,606,765
MOH Moho Resources 0.004 -20% 0% 0% -11% $2,981,656
TMX Terrain Minerals 0.002 -20% 0% -60% -43% $5,063,629
FIN FIN Resources Ltd 0.004 -20% 33% -33% -33% $2,779,554
SRN Surefire Rescs NL 0.0015 -25% -25% -49% -72% $5,635,289
BUX Buxton Resources Ltd 0.03 -29% -35% -9% -57% $10,308,177
CZN Corazon Ltd 0.002 -33% -33% 0% -50% $3,703,717
Weekly Small Cap Standouts
OD6 Metals (ASX:OD6)
OD6 Metals has produced high-quality mixed rare earth carbonate (MREC) and mixed rare earth hydroxide (MREH) from the Splinter Rock REE project in WA, with its shares running from 3c a pop on Monday to an 18-month high of 9.3c on Thursday.
What makes the results more significant were the low impurities and high payability potential of the material.
The results were from heap leach liquor via metallurgical testing conducted by the Australian Nuclear Science and Technology Organisation (ANSTO).
MREC of ~56% TREO was produced via a simplified and scalable heap leach and impurity removal process flowsheet while MREH of ~59% TREO was also produced utilising the same process but using sodium hydroxide (NaOH) to precipitate the saleable product.
'This is a significant milestone for OD6 and reinforces Splinter Rock's potential to become a competitive and scalable producer of high-value rare earth products,' MD Brett Hazelden said in an announcement on Wednesday.
'Our innovative processing pathway – using a combination of nanofiltration, ion exchange and impurity control – has enabled us to produce a high-quality, low-impurity MREC and MREH product that meets or exceeds global benchmarks.'
Bayan said this week that comprehensive exploration is progressing at the Desert Star project in a prospective REE corridor in California's Mojave Desert.
A total of 65 rock chip samples and 30 heavy minerals concentrate samples were submitted to ALS Laboratory in Reno for REE and multi-element analysis as well as gold fire assays with results expected shortly.
At Desert Star North, exploration is advancing 3km north of the 1.1Moz Colosseum gold mine owned by 2025 ASX bolter Dateline Resources (ASX:DTR). The claims are also along the same regional corridor as MP Materials' Mountain Pass REE mine.
Twenty one rock chip samples and 46 heavy mineral concentrate samples were also submitted to ALS with results expected in September.
A desktop review of existing geophysical datasets from both projects is underway, leveraging high-resolution airborne magnetic, gravity and radiometric data along with satellite imagery to refine targets.
At the Bayan Springs South project in Nevada a second phase of fieldwork was completed and assays are anticipated within two weeks.
The company has secured approval of the Stage 2 Mining Licence Expansion application for the Kangankunde rare earths project, an endorsement from the Malawi Government and regulatory certainty, materially de-risking its expansion development pathway.
The approval from the Mining and Minerals Regulatory Authority (MMRA) Board increases the licensed area from 900 to 2500 hectares.
'The upgrade of our Stage 2 expansion area from an exploration licence to a mining licence allows Lindian to work in parallel on our larger Stage 2 expansion whilst using the learnings from the development of our Stage 1 production facility to ensure we optimise our processing flow sheets and recoveries,' chairman Robert Martin said.
'This will also allow Lindian to capitalise on our ability to be the next rare earth producer to market and to capture a larger market share.
'The company continues to field additional inbound enquiries and is working on multiple pathways for further strategic offtake and funding agreements.'
Kingsland Minerals (ASX:KNG)
Metallurgical testwork at Kingsland Minerals' Leliyn asset, Australia's largest graphite deposit, has made a significant breakthrough in identifying the potential to produce a gallium by-product.
Testing – verified by CSIRO analysis – has established muscovite mica as the principal host of gallium mineralisation within the Leliyn graphitic schist, with biotite mica a secondary host of gallium at the project.
Perth's Independent Metallurgical Operations (IMO) has now started testwork aimed at producing a mica concentrate containing elevated levels of gallium mineralisation.
The mica concentrate will be obtained from material previously used to extract a graphite concentrate and flotation techniques will help float the micas.
Once a mica concentrate is generated, additional work will be planned to assess the viability of extracting gallium or gallium compounds from the concentrate.
If this test work is successful, additional flotation cells to extract mica can be included in future processing designs at the Leliyn graphite project.
Managing director Richard Maddocks said this marked an important development in the company's strategy to unlock value at Leliyn.
'Now we know what mineral hosts the gallium, we can work towards producing a gallium concentrate,' he said.
'It is anticipated that once a gallium concentrate is produced, additional work will assess the viability of extracting gallium and/or gallium compounds from the concentrate.
'It should be noted that gallium production will not be considered in the Leliyn scoping study due for release later in the September quarter'.
Victory Metals (ASX:VTM)
Victory Metals says an upgrade to the mineral resource estimate at its flagship North Stanmore heavy rare earth elements project in WA has revealed ultra-high, heavy rare earth ratio zones of up to 83%.
With leading ratios of heavy rare earth elements, including dysprosium (Dy) and terbium (Tb), comparing favourably to other Australian clay-hosted project at this scale, Victory is emerging as a standout, low-cost heavy rare earth element producer.
The resource update incorporates results from a targeted 79 drillhole 3221m, air-core drilling campaign, delivering a 29.5% increase to 320.6Mt at 510ppm total rare earth oxide and high HREO/TREO of 39% (inferred and indicated).
The company also identified a high-grade shallow zone of 50 million metric tonnes at 1050ppm TREO/Sc2O3.
The mineralisation remains open, highlighting the opportunity to target the ultra-high heavy rare earth ratio zones through satellite pits.
The upgraded MRE will now be used for the 2025 pre-feasibility study planned for release later in 2025 and will assist in ongoing funding discussions for the project.
'This resource upgrade reinforces the immense scale and strategic importance of North Stanmore,' VTM CEO and executive director Brendan Clark said.
'To deliver a 29.5% increase from a small, low-cost 3221m air core program speaks volumes about this deposit.
'Mineralisation remains open in multiple directions, with consistently thick and high-grade intercepts continuing to be identified.
'While we see strong potential for further resource growth, the company's priority is progressing development, as there is already sufficient material to support a mine life exceeding 30 years.'
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The Australian
39 minutes ago
- The Australian
The ASX's best undeveloped mines, according to Argonaut
Argonaut's latest Best Undeveloped Projects list was launched this month Companies listed in the guide have historically done well, with cumulative gains for key picks of 212% over more than a decade Gold, uranium, copper and critical minerals deposits all among the 25-strong list of key picks and special mentions In a world of AI, quants and passive investing, there are smoke signals to be found that active management and stock picking still matters when it comes to choosing outperformers. Look no further than the Best Undeveloped Projects list out of Perth brokers Argonaut, the tome from the Wild West that puts guard rails around which future mines have the best prospects for success. This year's list is now out, presenting 25 projects yet to enter construction that have the potential to become significant mining operations. Of those, 18 make the main list with another seven in the special mentions category. It's impossible to predict the future with perfect accuracy, but recent history suggests the list can be a good guide for value creation. Argonaut has drawn up the list each year since 2014. In that time there have been four down years and seven up years for its key picks, with average growth of 14%. A cumulative investment would have netted 212% for key picks and 94% for special mentions over that period, against just 61% of the ASX 200 and 123% for the small resources index. Last year was a strong one for Argonaut's key picks, notching their third best performance in the past decade with average share prices 38% higher. Special mentions underperformed small resources (10% vs 12%), though that came off a massive 58% run in 2023. The standout performer in 2024's list was New World Resources (ASX:NWC), up 235% after a bidding war resulted in its $243 million cash takeover by Kinterra Capital – the prize its high-grade Antler copper project in Arizona. It would be hard to repeat a success like that, with De Grey Mining also a major mover after its scrip takeover by Northern Star Resources (ASX:NST) to end the speculation over who would eventually get to develop the 11.2Moz Hemi gold project. With that in mind, we felt it was worth a squiz at this year's book to see which projects Argonaut thinks are the real deal this year. The list Before we go onto the list itself, it's worth noting what criteria Argonaut's stock pickers use to determine their top selections, giving a sense of what professional analysts look for when they talk about a standout asset. Geared towards low cost, high margin opportunities, the projects assessed by Argonaut must be development stage, somewhere between a scoping study and pre-commercial production, have an internal rate of return upwards of 25% (large miners typically will develop anything above 15% depending on mine life), profitable through all market conditions and commodity price cycles and highly likely to achieve a project valuation north of $100m within 24 months. To make the list the project owner must also have a valuation of less than $5bn – no boring, index tracking mega caps here. This year's book is a long one. So we'll roll up the key picks here: Argonaut's key picks for best undeveloped projects. Pic: Argonaut Running through the 18 key picks, and you'll be surprised to see gold doesn't totally dominate the ledger – these projects are supposed to work in all commodity cycles after all. Copper gets two nods, courtesy of AIC Mines' (ASX:A1M) Jericho and FireFly Metals' (ASX:FFM) Green Bay. Unloved nickel and resurgent platinum group metals get some love in Centaurus Metals' (ASX:CTM) Jaguar project in Brazil and Chalice Mining's (ASX:CHN) Gonneville in WA. Zinc, rare earths, niobium and rutile all get one mention, with lithium and uranium bagging two a piece. It's not everything, but in a sign of the times, gold assets still make up the largest single portion of the list, with six of the 18 names aiming to develop gold assets. Those include large producers Greatland Resources (ASX:GGP), Perseus Mining (ASX:PRU) and Capricorn Metals (ASX:CMM), who are all looking to build new mines in the coming years at Havieron, near Greatland's Telfer mine, Nyanzaga in Tanzania and Mt Gibson in WA, respectively. But there are small caps on the card also: Magnetic Resources' (ASX:MAU) Lady Julie deposit in WA's Laverton gold district, Predictive Discovery's (ASX:PDI) Bankan in Guinea and WIA Gold's (ASX:WIA) Kokoseb in Cote d'Ivoire are all included, with each shaping as potential M&A targets. "An improved gold market has fuelled increased exploration across the space, resulting in the emergence of new greenfield and near-mine discoveries," Argonaut said. "We include nine gold projects, with five located in Western Australia and the remainder across the Africa region. "We remain firmly committed to our belief that decarbonisation will play an increasingly important role in the global economy. Future facing metals such as lithium, rare earth elements, copper, niobium and uranium are all represented in our project selections." Special mentions include projects that could progress to Argonaut's main list. Pic: Argonaut Three gold stocks feature on the special mentions, including Brightstar Resources (ASX:BTR) and its soon to be wholly consolidated Sandstone project, where the acquisition of neighbour Aurumin (ASX:AUN) would pump up its inventory from 1.5Moz to 2.4Moz gold. Tim Goyder's Minerals 260 (ASX:MI6) and its ripe to be mined Bullabulling mine near Coolgardie also makes the grade along with Diggers and Dealers best emerging company award winner Turaco Gold (ASX:TCG) and its Afema deposit in Cote d'Ivoire. Rare earths and niobium plays Northern Minerals (ASX:NTU) and Encounter Resources (ASX:ENR) are on the bill, with African uranium opportunities Aura Energy (ASX:AEE) and Bannerman Energy (ASX:BMN) cracking a mention. Projects to watch There's a lot to pore over, but we've decided to take a look through some of the key picks and special mentions for a few that piqued our interest. Aura Energy - Tiris Aura Energy's Tiris is among the most advanced uranium assets on the ASX, with first production expected in 2027. The project lies in the West African country of Mauritania, an off the radar locale for ASX investors which nonetheless is home to major mining operations, especially in gold and iron ore. Tiris would be its first uranium mine, with Argonaut's John Scholtz suggesting its 162Mt at 215ppm resource (76.6Mlb) could underpin production of 1.7Mlbpa at all in sustaining costs of US$37.07/lb. "A DFS on the project was completed in 2021 and has subsequently been updated in 2023 and had a FEED study in 2024 highlighting robust economics. AEE is now focused on funding and is expected to do an FID in the near-term. The project is fully licensed," Scholtz said. "Due to current market conditions delaying an FID, AEE's current target for delivering production is early CY27 rather than their initial estimates in the FEED. Using a 50/50 blend of spot prices and Argonaut forecasts the NPV of Tiris is A$585m." That compares very favourably to Aura's current market cap of $138m. Magnetic Resources - Lady Julie Magnetic's Lady Julie North 4 discovery has grown from 200,000oz to 1.94Moz in just two years, with Argonaut's Patrick Streater predicting another update could take the resource there to 2.25Moz. That would add further value to an asset where a feasibility study in July outlined a nine-year mine life producing 114,000ozpa, including 140,000ozpa between years three to eight. Argonaut has modelled a 10.5 year mine life at 110,000ozpa, with pre-production capex of $375m including working capital, with an initial open pit to be supplemented by an underground from the third year of ops. "MAU presents both as an attractive standalone development project, whilst also being a compelling M&A target for existing producers in the region looking for a large high-grade ore feed," Streater said. The attraction for nearby majors is its locale. Magnetic sits within 15km of both Genesis Minerals' (ASX:GMD) Mt Morgans mill and Gold Fields' Granny Smith, both of which have long been regarded as underfed. When deposits outside Lady Julie are included, the broader Laverton project's resource runs up to 2.32Moz, making it one of the largest undeveloped gold bases in the hot WA Goldfields region. "MAU continues to progress the Lady Julie project down a standalone development route with a sufficient mining inventory now built to cover pre-production capital costs," Streater said. "However, the existing processing infrastructure in the region across various producers makes MAU a compelling M&A target, which could instead be acquired as a bolt-on project for a nearby producer. The LJN4 open pit includes a large high-grade ore reserve of 14.3Mt at 1.6g/t for 726koz, which would be an attractive high-grade feed with scale to supplement existing mill ore feeds or displace lower-grade material." Patriot Battery Metals - Shaakichiuwaanaan Is lithium still sufficiently exciting at spodumene prices of under US$1000/t to warrant best project inclusion? Argonaut still sees Ken Brinsden's Patriot as "globally significant" as the largest hard rock lithium deposit in North America, running at 141Mt at 1.39% Li2O. It bolstered the investment case last month by reporting the world's largest pollucite hosted caesium deposit also existed on the site, including a high-grade component of 163,000t at 10.25% Cs2O with lithium and tantalum credits. An exploration target of 146-231Mt at 1-1.5% Li2O means converting drill metres to resources could put the project in league with Pilbara Minerals' Pilgangoora, MinRes and Albemarle's Wodgina and the Greenbushes JV in WA for scale. A feasibility study is due at the end of September. Predictive Discovery - Bankan A DFS recently outlined a 12-year operation producing 250,000ozpa at an all in sustaining cost of just US$1057/oz. Hosting a 2.95Moz reserve, Bankan is one of the largest discoveries made in West Africa in recent years, with the grant of an exploration permit viewed by Argonaut's Patrick Streater as a key catalyst for the project, expected to cost US$463m to bring into production by 2028. While wrangling from Guinea's Government over licences at other projects is potentially throwing some storm clouds over the junta-run jurisdiction, the award of the exploration permit could be a trigger for M&A. That seems the logical outcome for PDI, which has Perseus, Lundin and Zijin all on its register as significant shareholders. "We expect the Lundin Group/Zijin to be the most likely owners. Under PDI's current development timeline, assuming PDI brings Bankan into production, the first gold is targeted for early CY28," Streater said. Brightstar Resources - Sandstone Brightstar is already a small scale gold producer, using toll treatment to deliver between 35-40,000ozpa from a string of gold mines across the Menzies and Laverton gold districts. An expansion there, using its own plant infrastructure, could enhance that to 70,000ozpa later this decade. But Alex Rovira's firm's big opportunity to grow into a 200,000ozpa miner lies in the forgotten Sandstone gold field. Over the past two years, the firm has delivered on a plan to consolidate the district – the fourth pillar of the Murchison province alongside the Ramelius Resources dominated Mt Magnet and Westgold controlled Cue and Meekatharra – via aggressive M&A. The latest gambit is its agreed merger with Aurumin, which will take the total inventory to 2.4Moz. FID is due in 2027 with production to start late in 2028 on present ambitions. 100,000m of drilling is planned this financial year. Argonaut's Hayden Bairstow has a spec buy rating and $1.60 valuation on 40c BTR. The broker's 3Mtpa production scenario for Sandstone carries a $200m capex estimate, with average gold production of 105,000ozpa with costs of $3000/oz for the first five years. A PFS and ore reserve are due in 2026. Sovereign Metals - Kasiya Kasiya hosts the world's largest natural rutile resource of 1.8Bt at 1%, with 1.4% natural graphite a co-product kicker. Natural rutile is the world's cleanest and most desirable source of titanium dioxide feedstock, with supplies expecting to head into decline over the course of this decade. Rio Tinto has already read the tea leaves, picking up a 19.9% equity stake in the company, which is expected to deliver a DFS on the Malawi-based project in Q4 2025. "Rio Tinto (Not Covered/No Rating) holds a 19.9% equity stake in SVM and we anticipate they will ultimately pay a market premium to takeover SVM. The DFS expected in 4QFY25 remains as a key catalyst," Argonaut's George Ross said. Argonaut has a $1.691bn NPV attached to the project, slightly below Sovereign's optimised PFS estimate. The number is pre-tax, with the application of a 15% Malawian resource rent tax still uncertain. The project has already attracted the interest of international offtakers, Ross noted. "The project will produce two critical mineral co-products, rutile and graphite, at a low carbon cost. Kasiya's rutile concentrate is considered a premium product with good particle size and low deleterious elements," he said. "Because of its quality, Kasiya's rutile is suitable for use as both a titania feedstock and in the high value welding sector. SVM has entered into non-binding MOUs with three major rutile market participants: Mitsui, Chemours and Hascor." At Stockhead, we tell it like it is. While Sovereign Metals, Brightstar Resources, Aura Energy and Magnetic Resources are Stockhead advertisers, they did not sponsor this article. The broker's opinions are not those of Stockhead.
West Australian
a day ago
- West Australian
Runners of the Week: OD6 Metals, Mount Ridley Mines, ActivePort & ETM
The ASX has another scorcher, with equities again reaching new highs. Materials stole the show on a positive week Down Under and the beleaguered lithium and rare earths sectors led the charge. Perth-based lithium giant Pilbara Minerals saw its share price surge nearly 22 per cent on news that global battery heavyweight CATL had closed some of China major mines. Australian employment data came back better than expected, cracking a low 4.2 per cent unemployment rate with 25,000 jobs added last month. The positive numbers were mostly due to population figures decreasing -and not because Australians are having fewer babies. The solid numbers slashed hopes for a September rate cut to a mere 35 per cent, and unfortunately, United States data also came back with higher-than-expected inflation. This led to the inevitable 'this is not a time for investors to panic but rather focus on fundamentals' calls from the wealth management big wigs. Anything to keep the funds in their pockets and our fees turning over, I guess. The real fireworks this week – and over the month - came from the white-hot Aussie critical minerals sector, in particular, rare earths. After Federal Resources Minister Madeleine King last week suggested floating price floors to rival the US's US$110 a kilogram neodymium and praseodymium benchmark, Australia's rare earths stock continued their tear to taking out three of the top four spots in this week's Runners list. And blue chips Lynas Rare Earths and Iluka Resources both saw their share price rise more than 50 per cent on the month. However, this week's Runner of the Week was taken out by a recently dormant rare earths giant lingering near Western Australia's south coast. OD6 METALS LIMITED (ASX: OD6) Up 250% (3c – 10.5c) Bulls N' Bears' ASX Runner of the Week is Aussie rare earths renegade OD6 Metals, which joined the critical minerals chorus this week with a transformational saleable product produced at its mammoth clay-hosted Splinter Rock rare earths project near Esperance on Western Australia's south coast. The company unveiled a high-quality mixed rare earth carbonate product, which comes in at a promising 56 per cent total rare earth oxides (TREO). It has also produced a mixed rare earth hydroxide at about 59 per cent TREO. The company produced the rare earths with the help of industry leader ANSTO using a much-simplified scalable heap leach process, which will drastically reduce the operational costs and capex of its final clay processing facilities. OD6 says its new plant flowsheet will slash hydrochloric acid use from 37.12 kilograms per tonne to 7.12kg/t, while boosting recoveries to an impressive 79 per cent TREO. By ditching costly tank leaching for a heap leach pad, the company has eliminated complex steps such as clay washing, using energy-intensive filters and recycling about 80 per cent of its acid, which is its most costly operational input. OD6 says its product should fetch a premium thanks to its high percentage of the magnet rare earths neodymium, praseodymium, dysprosium and terbium. It also has ultra-low levels of impurities uranium and thorium. The company's share price rocketed 250 per cent on Wednesday and Thursday to peak at 10.5 cents from last week's 3c close, fuelled by a massive $5 million in stock traded. OD6 will now court off-take partners across North America, Europe and Asia for its massive 682 million tonne resource at 1338 parts per million (ppm) TREO. With the talk of price floors and a massive slashing in costs at Splinter Rocks, OD6 has catapulted itself back into the Australian rare earths fray, closing the week in a trading halt ahead of raising funds for a renewed clay hosted rare earths push at its monster WA project. MOUNT RIDLEY MINES LTD (ASX: MRD) Up 250% (0.2c – 0.7c) Snagging silver this week is OD6's Esperance neighbour, Mount Ridley Mines, which rode the rare earths coat tails of its dazzling big brother in the region to see its share price also surge 250 per cent on the week. Mount Ridley's stock rose from 0.2c per share last week to a high 0.7c on Thursday. Given Bulls N' Bears doesn't do draws, and on the basis of it releasing no news, Mount Ridley took a backseat to the OD6, which is doing a lot of heavy lifting in the complex chemical processing department. Mount Ridley's eponymous project is just a stone's throw from Splinter Rock and hosts its own smaller, but still considerable, 168-million-tonne clay-hosted resource grading at 1201ppm TREO. The company says mineralisation at the project is highly analogous to OD6's clays and that previous hydrochloric acid leaching tests positions it as a dark horse to compete on the same field as its more advanced sibling. Mount Ridley kicked off its own capital raise on the week, spelling out a $830,000 raise and rights combo to advance its metallurgical testwork with ANSTO, mirroring OD6's heap leach innovations. The project's proximity to Splinter Rock and shared geological traits have given it a second chance at life. For now, this Esperance underdog is riding the sector's tailwinds, but with the world eager to get its hands on a Western rare earths supply, there looks to be plenty of upside left in this $3 million market cap minnow. ACTIVEPORT GROUP LTD (ASX: ATV) Up 200% (1.1c – 3.3c) Charging late to claim the final podium place on Bulls N' Bears Runners is AI solutions co-ordinator Activeport Group, after it launched Australia's first private cloud superhighway Private-Cloud Connect. The fibre service offers variable bandwidth for private cloud operators and demand inflow, allowing it to deliver a flexible premium service at a reduced cost. Private-Cloud now hosts three big customers DigiCo, Equinix and NextDC, which are tapping into Activeport's software-orchestrated network for secure and scalable connectivity. With the Australian artificial intelligence market projected to hit $22 billion by 2030, at a staggering 17 per cent annual growth rate, Activeport says its platforms are cornering a market niche linking private businesses to high-powered data centres. The market certainly lapped it up, with pundits piling into the stock on Thursday's ASX announcement. The company's share price rocketed to close the week at 3.3c today, up 200 per cent from 1.1c last week, on more than $9 million in stock traded. The company's ability to scale for heavy workloads, such as data migrations, while optimising daily operations costs has got the sector talking. Activeport's rapid customer uptake signals it as a strong market fit, allowing Private-Cloud Connect to leverage Australia's growing colocation infrastructure. The company's early dominance has its eyeing partnerships to scale its network into Asia and beyond. With the ASX buzzing over tech innovators, some Aussie darlings are seemingly showing their metal. ENERGY TRANSITION MINERALS LIMITED (ASX: ETM) Up 180% (5.5c – 15c) Closing out the Runners list this week is another rare earths hopeful in Energy Transition Minerals (ETM), which last week strategically scooped up its Penouta tin-tantalum-niobium mine in Galicia, Spain, for €5.2 million (A$9.2m) through an insolvency process. Surprisingly, that wasn't why the company's share price was running. Despite its promising new project, a feature story on Channel Nine's 60 Minutes program on Sunday really got ETM's stock going. Company management rather cheekily suggested on air that there were billions to tens of billions of dollars' worth of value in the ground at its Kvanefjeld rare earths project in southern Greenland, which is owned through an ETM subsidiary. This was followed by a quick retraction followed on Monday, but the company's share price was already humming. It shot from 5.5c to 15c intraday on a massive $13 million in stock traded. As the 60 Minutes' segment highlighted, Greenland is now and has long been opposed to mining, which might be why ETM added its Penouta project to the fold last week. The tin mine looks an absolute steal and has a shot at operating in the near term. Its existing infrastructure includes a new 1-million-tonne per annum gravity processing plant, which is primed for a restart, pending Spanish regulatory approvals. Acquired at a steep discount from its €28 million ($49.5 million) historical cost, Penouta's sunk capital and recent operation has ETM saying it offers a low-risk bet in a promising tin market experiencing its own supply squeezes. Penouta has a 1.1-billion-tonne rare earths resource, which complements its near-term cash flow potential. Additionally, ETM is freshly cashed up to navigate the project's regulatory approvals process and any permitting hurdles. One thing's for sure, if it can use its Spain proceeds to pull off its mammoth mine in Greenland, ETM will be on its way to becoming a powerhouse rare earths provider on a global scale. Is your ASX-listed company doing something interesting? Contact:
AU Financial Review
a day ago
- AU Financial Review
Critical minerals shift from extraction to processing
With 25.3 million tonnes of contained graphite, it is expected to support a mine life of at least 70 years – meaning it could one day power not just electric vehicles, but the robot workers and storage networks of Australia's long-term clean energy future. 'Graphinex's Esmeralda Project is a clear example of Australia moving up the value chain,' says managing director Art Malone. 'Our demonstration facility in Townsville produces material that exceeds battery anode specifications, and we are scaling toward full commercial production.' That kind of capability matters because graphite is not just another mineral. It makes up more than 90 per cent of the anode in lithium-ion batteries. As electric vehicle and storage demand grows, graphite has emerged as a strategic chokepoint – and China controls more than 98 per cent of its global refining capacity. 'Natural graphite is now officially classified as a critical mineral in all jurisdictions like the US, EU, Japan, and Australia,' Malone says. 'Yet over 98 per cent of anode material is currently processed in China. That creates a vulnerability in global supply chains and a massive opportunity for Australia to step in with secure, ESG-compliant alternatives.' Geopolitical reality According to Benchmark Mineral Intelligence's Enabling North American Graphite Growth report, China's dominance of graphite refining represents a fundamental strategic risk. In 2023, China supplied 72 per cent of the world's graphite and 92 per cent of the high-purity anode material used in lithium-ion batteries. By 2028, Benchmark projects China will still supply 65 per cent of global graphite and 86 per cent of anode material. The report notes that 'barring concerted action,' China will continue to control the market. That dominance extends across both natural graphite – mined and refined and synthetic graphite, manufactured from petroleum feedstocks. The report frames this not just as a trade or investment problem but a national security issue. 'Lithium-ion batteries are a critical component of many emerging advanced technologies, including many with national security applications,' it says. In that context, securing reliable, non-China graphite supply is not optional, it's strategic. Australia's industrial policy is catching up to this geopolitical reality. With the federal Critical Minerals Strategy, Queensland's Critical Minerals Fund, and agencies like NAIF and the Office of the Co-ordinator General behind early-stage projects, the conditions for downstream investment have improved. 'Policy support has improved and needs to move fast and coordinated,' Malone says. 'This is something the Queensland government does well.' The Townsville demonstration facility is a product of that convergence – a project that has secured institutional backing from Japan's Idemitsu and Indonesia's Baramulti, along with funding from government sources. The site produces qualification-scale batches of active anode material (AAM) for testing by tier-one battery manufacturers. 'We're seeing strong strategic interest from downstream battery and auto manufacturers, particularly in the US, South Korea, Japan, and Europe,' Malone says. 'Governments are now offering financial incentives and trade policy support for non-China supply chains. Our engagement with US, Japan and Australian government agencies reinforces the geopolitical importance of what we're building.' High purity graphite Demonstration facilities are often seen as proof-of-concept. But in this case, the technical data is already drawing attention. Independent testing shows the material has a discharge capacity of 381.4 mAh/g, compared to an industry standard of around 355, and purity levels of 99.99 per cent – placing it in the premium performance category. The firm has already completed its pre-feasibility study and has now commenced a bankable feasibility study, along with permitting and financing discussions. Construction of its full-scale facility is expected to begin within 18 months. 'Financing will combine private capital, strategic investors, and government backed debt,' Malone says. 'Strong interest is already being shown by our global partners.' The economic potential extends well beyond graphite. Australia's broader ambition is to become a trusted hub for critical mineral processing across the battery value chain – spanning not just graphite, but lithium, nickel, and rare earths. 'Australia has a once-in-a-generation opportunity to be more than a quarry,' Malone says. 'We can become a trusted midstream hub for critical battery materials.' In that vision, projects like the Townsville facility are a test case – not just for commercial success, but for whether Australia can turn strategic ambition into industrial capability. More than digging and shipping Queensland Minister for Natural Resources and Mines Dale Last says the plant means that the nation is well positioned to not only meet the strong global demand for critical minerals but also add value to the supply chain through additional processing. 'Queensland's mineral deposits are world-class, and we're proud to be a mining state. We want to see projects that go further than the 'dig it and ship it' approach,' says Last. He says the state government is investing in midstream capabilities to support critical mineral extraction and processing for our key critical mineral commodities including graphite, vanadium, and other materials. 'We've made it our mission to connect international investors with Queensland innovation, backed by the work of the resources cabinet committee to streamline approvals and get more projects off the ground,' says Last. 'We're pulling every lever to accelerate new developments, reduce approval timeframes and give industry the confidence to plan and invest. Graphinex's battery anode production facility in Townsville and planned Esmeralda mine is proof that the government's strategy is working, delivering real opportunities for regional Queensland and positioning the state as a global leader in battery materials, he says. If the race to electrification is also a race for industrial capability, then the work underway in northern Queensland may prove decisive. Not because it's flashy, but because it quietly answers the question: can Australia do more than dig? And this time, it's looking like the answer is yes for Graphinex.
