4 Lithium Stocks in limelight - LI3, GLN, AGY, CXO

  • Apr 04, 2019 AEDT
  • Team Kalkine
4 Lithium Stocks in limelight - LI3, GLN, AGY, CXO

Lithium in lithium-ion batteries is integral to electric vehicles. Due to the significant rise in the demand of Electric vehicles, the demand of lithium has also increased which is why investors are now keeping a close eye on Lithium Stocks. Let's take a look at 4 Lithium Stocks which are in limelight.

Lithium Consolidated Limited (ASX: LI3)

Lithium Consolidated Limited (ASX: LI3) has witnessed an uplift of over 57% in its share price during the intraday trade as on 4 April 2019. The company recently released an investor presentation in which it provided the roadmap for the electric vehicle products. The company informed that the Deutsche Bank expects current automaker product roadmaps to result in more than 10% EV penetration of global auto markets. Further, the company informed that new electric vehicle registrations are growing at a rate of more than 25% on year-on-year basis, significantly improving the outlook for lithium stocks. Recently the company acquired 2 new lithium assets in the Alto Ligonha Pegmatite Province in Mozambique, making Lithium Consolidated the first ASX listed company to enter Mozambique for hard rock lithium.

In the past one month, the share price of Lithium Consolidated increased by 16.67%. LI3 traded at $0.110 (+57.143% intraday) with a market capitalization of circa $6.36 million as on 4 April 2019.

Galan Lithium Limited (ASX: GLN)

Galan Lithium Limited’s (ASX: GLN) shares were up by 41.304% during the intraday trade. Today, the company announced it has discovered highly conductive brines in third drillhole, C-03-19 at the Candelas Lithium Brine Project located on the Hombre Muerto salar in Argentina.

The conductivity measurements from brine samples exceeded the 200 millisiemens/cm limits of the field recording instrument whilst specific gravity was recorded at 1.13 g/cm3, reinforcing the company’s view that the project is having a potential to host a significant lithium resource in one of the world’s premium salars at Hombre Muerto.

GLN’s traded at $0.325(+57.143% intraday) with a market capitalization of circa $26.01 million as on 4 April 2019.

Argosy Minerals Limited (ASX: AGY)

On 4 April 2019, Argosy Minerals Limited (ASX: AGY) has provided an update on recent lithium hydroxide process works that have taken place at the Stage 1 industrial scale pilot plant and in-house laboratory at the Rincon Lithium Project. The company informed that it has undertaken high purity lithium hydroxide (LiOH) processing works at its pilot plant and in-house laboratory for customer sample testing following interest by major Korean battery group. The Laboratory analysis results have confirmed 56.84% LiOH and also confirmed a purity of 99.61% lithium hydroxide monohydrate.

AGY’s shares traded at $0.105 with a market capitalization of $96.97 million as on 4 April 2019.

Core Lithium Ltd (ASX: CXO)

Emerging Australian lithium developer, Core Lithium Ltd (ASX: CXO) recently expanded its existing binding lithium offtake agreement with Yahua for its 100% owned Finniss Lithium Project which illustrates Yahua’s support for the project as Core positions itself to be Australia’s next lithium producer.

Recently the company announced new high-grade lithium results from drilling at the BP33 deposit within the Finniss project which confirmed the consistent, wide and high-grade nature of the spodumene pegmatite orebody at BP33.

CXO’s shares last traded at $0.056 (1.818% intraday) with a market capitalization of circa $38.2 million as on 4 April 2019.


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