Because the market strikes into the second half of yr, the lithium sector has continued to expertise challenges.
Nonetheless, after 2023’s broad fluctuations, the lithium sector exhibited larger stability within the first half of 2024.
Whereas oversupply and weak costs stored some corporations from registering giant beneficial properties throughout the interval, others noticed share value progress. Learn on to find which lithium-focused corporations on Canadian and Australian exchanges have carried out the most effective in 2024.
The checklist beneath was generated utilizing TradingView’s inventory screener, and information was gathered on August 27, 2024. Whereas US lithium corporations have been thought of for the checklist, none have been up year-to-date on the time information was gathered. All lithium shares had market caps above $10 million of their respective currencies when information was gathered.
1. Q2 Metals (TSXV:QTWO)
Year-to-date acquire: 140 p.c; market cap: C$76.02 million; present share value: C$0.60
Exploration agency Q2 Metals is exploring its flagship Mia lithium property within the Eeyou Istchee James Bay area of Québec, Canada. The property comprises the Mia development, which spans over 10 kilometers. Additionally included in Q2 Metals’ portfolio is the Stellar lithium property, comprising 77 claims and positioned 6 kilometers north of the Mia property.
This yr, Q2 Metals has additionally targeted on exploring the Cisco lithium property, which is located in the identical area. On February 29, the corporate entered into three separate possibility agreements to realize a 100% curiosity in Cisco, information that prompted its share value to skyrocket; it reached a year-to-date excessive of C$0.54 on March 4.
In mid-Could, Q2 Metals launched re-assayed outcomes from 2023 drilling performed at Cisco by the property’s distributors. The corporate used the analytical methodology it has utilized to its Mia drill cores.
“We’re happy with the constructive consequence of the re-analysis of the Cisco drill outcomes,” mentioned Q2 Metals Vice President of Exploration Neil McCallum. “An intensive overview of the standard management measures has solidified that the brand new outcomes are extra correct than the unique outcomes beforehand introduced. It’s not an surprising change because the analytical strategies now used are extra correct at greater grades above roughly 1.5 p.c Li2O and we’ve got a number of samples above that vary.”
Later that month, the corporate introduced the beginning of a summer time drill program on the Cisco property. It has since launched a number of vital updates, together with the affirmation of eight new mineralized zones on July 8.
Q2 Metals closed the acquisition of Cisco in June and now wholly owns the challenge.
2. Volt Lithium (TSXV:VLT)
12 months-to-date acquire: 104.3 p.c; market cap: C$66.96 million; present share value: C$0.47
Volt is a lithium improvement and expertise firm aiming to develop into a premier North American lithium producer using its proprietary direct lithium extraction (DLE) expertise to extract lithium from oilfield brine. It has a Canadian discipline simulation heart in Calgary, Alberta, and is deploying its expertise beginning within the Permian Basin in West Texas.
On April 29, Volt introduced a strategic funding of US$1.5 million by an unnamed firm working within the Delaware Basin in West Texas for the deployment of a discipline unit to provide lithium hydroxide monohydrate.
Within the lead-up to the deployment, Volt considerably elevated its DLE manufacturing capability to 96,000 liters per day.
In August, the corporate introduced the profitable deployment, set up and graduation of function-testing of its first discipline unit on the operator’s web site. In response to the assertion, Volt has scaled up the sphere unit once more, and it’s now able to processing over 200,000 liters of oilfield brine per day.
3. Foremost Lithium (CSE:FAT)
12 months-to-date beneficial properties: 16.02 p.c; market cap: C$21.44 million; share value: C$3.91
Foremost Lithium is an exploration firm with a number of laborious rock lithium properties, which it calls the Lithium Lane initiatives, within the Snow Lake district of Manitoba, Canada, in addition to the Lac Simard South challenge in Québec, Canada.
In early June, Foremost introduced plans to spin out its Winston gold-silver challenge in New Mexico, US, into a brand new wholly-owned subsidiary, Rio Grande Assets. Winston contains three historic mine websites.
In Could, the corporate accomplished its winter drill program on the Zoro lithium challenge in Manitoba. The drilling encompassed 21 diamond drill holes over 5,826 meters and focused beforehand untested mineralization southeast of Dyke 1, the place the corporate has an inferred useful resource of 1.07 million metric tons with a 0.91 p.c lithium oxide grade.
In response to the assertion, the preliminary outcomes “demonstrated the continuity of lithium mineralization alongside Dyke 1.”
In mid-August, Foremost Lithium introduced constructive outcomes from this system, with one gap intersecting 1.15 p.c lithium oxide over 4.97 meters and 1.52 p.c over 5.02 meters, and one other hitting 1.1 p.c lithium oxide over 9.88 meters. These outcomes might improve the challenge’s general useful resource potential.
1. Vulcan Vitality Assets (ASX:VUL)
Year-to-date acquire: 31.72 p.c; market cap: AU$718.8 million; present share value: AU$3.82
Europe-focused Vulcan Vitality Assets goals to help a carbon-neutral future by producing lithium and renewable vitality from geothermal brine. The corporate is at the moment creating the Zero Carbon lithium challenge in Germany’s Higher Rhine Valley. Vulcan is using a proprietary alumina-based adsorbent-type direct lithium extraction course of to provide lithium with an finish purpose of supplying sustainable lithium for the European electrical automobile market.
On April 11, Vulcan introduced the graduation of lithium chloride manufacturing at its lithium extraction optimization plant in Germany. In response to the corporate, the milestone marks the primary lithium chemical manufacturing in Europe utilizing native provide. The plant persistently exhibited over 90 p.c lithium extraction effectivity.
Vulcan will now put together the 40 million euro facility for industrial manufacturing. The corporate already has binding lithium offtake agreements in place with main automakers and battery producers, and expects to produce sufficient lithium for 500,000 electrical autos throughout the first part of manufacturing.
In August, Vulcan reported that commissioning of its lithium hydroxide optimization plant, CLEOP, close to Frankfurt, had begun. As famous within the assertion, this step is vital in Vulcan’s plan to provide Europe’s first battery-grade lithium hydroxide from a European supply, supporting the native battery market.
2. Prospect Assets (ASX:PSC)
12 months-to-date acquire: 23.6 p.c; market cap: AU$57.06 million; share value: AU$0.11
Africa-focused explorer Prospect Assets holds a diversified portfolio of property positioned in Zimbabwe, Zambia and Namibia. The corporate’s lithium initiatives, Omaruru and Step Apart, are in Namibia and Zimbabwe, respectively.
In late June, Prospect launched an replace on its exploration actions on the initiatives. The corporate reported sturdy assay outcomes from Section 4 diamond drilling at Step Apart, and shared outcomes from follow-up Section 2 drilling at Omaruru.
In a launch, Managing Director Sam Hosack highlights the numerous mineralization potential at each initiatives.
Shifting ahead, Prospect plans to decelerate spending at its lithium initiatives because it turns to its newly acquired Mumbezhi copper challenge. The corporate believes it may well monetize Step Apart within the close to time period to assist on this purpose.
In its most up-to-date quarterly outcomes, Prospect famous the completion of drilling and fieldwork for the Section 4 diamond drilling program on the Step Apart lithium challenge in Zimbabwe, with no additional exploration deliberate. The challenge is being ready on the market to assist fund Mumbezhi.
In the meantime, the Omaruru lithium challenge in Namibia has accomplished Section 2 drilling, and spending has been decreased to holding prices as focus shifts to the Mumbezhi challenge. On the Bikita Gem lithium challenge in Zimbabwe, Prospect has begun fieldwork and trenching after coming into a three way partnership earn-in settlement in Could, with a restricted drilling program deliberate to “to check the subsurface beneath quite a lot of historic lithium-bearing (petalite) targets recognized on the Challenge.”
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Securities Disclosure: I, Georgia Williams, maintain no direct funding curiosity in any firm talked about on this article.
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