High-performing ASX lithium stocks of 2022

By - Team Kalkine Media


  • Global lithium demand is estimated to reach 1,058,000 tonnes by 2024 with a hike of 40%.
  • Latin Resources completed drilling 57 diamond drill holes at a high-grade Colina Lithium prospect
  • Global Lithium Resources commenced a Scoping Study at the Manna Lithium Project in conjunction with MinSol Engineering

Lithium is a very vital component of electric vehicle batteries. The continuous surge in lithium demand is the result of the transition from fossil fuels to cleaner sources. The world is trying to attain net-zero carbon emissions, which cannot be achieved without innovation in the transportation sector as it is one of the major emitters of greenhouse gases. Over the next two years, the lithium demand is estimated to reach 1,058,000 tonnes with a hike of 40% in present demand.

With this backdrop, let us check a few ASX-listed lithium stocks with good performance in 2022:

Latin Resources Ltd. (ASX: LRS)

Australia-based mineral exploration company Latin Resources Limited is progressing towards net-zero emissions through its projects. The projects of Latin Resources are in South America and Australia. The Salinas Lithium project is the company’s flagship project comprising sedimentary rocks belonging to the Neoproterozoic Age. The Company also has the Catamarca Lithium Project in Argentina and the Cloud Nine Halloysite-Kaolin Deposit in Australia.

Latin Resources has completed drilling 57 diamond drill holes at the high-grade Colina Lithium prospect. Samples from 47 drill holes were used by SGS Geological Services for assay analysis. This led to the completion of the maiden Mineral Resource Estimate of the Colina prospect. The JORC Indicated and Inferred Mineral Resource Estimate stood at 13.3 million tonnes at 1.2% lithium oxide.

The drilling at the West Colina prospect also confirmed thick, high-grade spodumene pegmatites. Following the results, the company has planned for an aggressive drilling campaign in 2023 with another four drilling rigs operating on site.

The share price of LRS has fallen by 22.50% in a month, but on a half-yearly basis, it has risen by 32.86%. Over the course of one year, the share price has risen by 210%.

Global Lithium Resources Ltd. (ASX: GL1)

Lithium exploration company Global Lithium Resources owns two highly prospective projects in Western Australia: the Marble Bar Lithium and the Manna Lithium. The company recently upgraded its resource base to 50.7 million tonnes from these two projects. Global Lithium is one of the fastest growing lithium explorers in Western Australia and has attracted interest from Suzhou TA&A Ultra Clean Technologies Co and Mineral Resources Limited (ASX: MIN).

The company has commenced a Scoping Study at the Manna Lithium project in conjunction with MinSol Engineering. MinSol will define the process and non-process infrastructure requirements at the site, along with expected expenditure, including capital and operating costs. GL1 expects the results of the Scoping Study by the first quarter of 2023. The feasibility study for the Manna project is also scheduled for the first quarter of 2023.

The Mineral Resource Estimate (MRE) of the Manna project increased by 230%, reaching 32.7 million tonnes at 1% lithium oxide. The MRE of the Marble Bar project also increased by 71% to reach 18 million tonnes at 1% lithium oxide.

Shares of GL1 have performed well on a half-yearly and annual basis in 2022. The share price has increased by 86.67% in one year.

Data: ASX as on 28 December 2022

Argosy Minerals Ltd. (ASX: AGY)

Australian exploration company Argosy Minerals owns 77.5% interest in the Rincon Lithium project and 100% interest in the Tonopah Lithium project.

Argosy Minerals recently released an update about the progress of its Rincon Lithium project. The company has completed 98% of the total work related to producing 2000 tonnes per annum lithium carbonate. After producing the primary lithium product, the company is continuing its test work for producing a battery-grade lithium product.

The share price of Argosy Minerals has fallen by 15.83% in the past month. The annual performance has been relatively good with a gain of 62.90%.

Image: © Christof14 | Megapixl.com

Core Lithium Ltd. (ASX: CXO)

ASX-listed Core Lithium Limited believes it is on track to become Australia’s next lithium producer. The company is developing the Finniss Lithium project, considered the most capital-efficient spodumene project.

Core Lithium has received the assay results of reverse circulation and diamond drilling at the Finniss project. The Hang Gong prospect and the Bilatos prospect have shown promising results. The new reverse circulation drilling at the Far West pegmatite confirmed excellent grades and improved pegmatite continuity. The presence of shallow mineralisation was also confirmed at Bilatos.

The performance of Core’s share price in the past month was not encouraging as it took a dip of 26.72%. But on the other hand, the annual performance showed a hike of 65.52%.

Essential Metals Ltd. (ASX: ESS)

Australia-based mineral exploration company Essential Metals Limited has 100% ownership of the Pioneer Dome Lithium, Juglah Dome, and Golden Ridge projects.

Essential Metals announced that it was well positioned to begin feasibility studies at the Dome North lithium project. The Indicated Resource Estimate has increased by 50% to around 8.6 million tonnes at 1.23% lithium oxide, containing 105,000 tonnes. The thick, high-grade and outcropping nature of the deposits was confirmed by upgrading 81% of the total contained lithium to the Indicated Category.

The share price of Essential Metals has increased by 50% on a yearly basis.