- Investors are showing considerable interest in lithium stocks as the demand for electric vehicles (EVs) is gaining momentum.
- The demand for EVs is poised to grow by 30% by 2030.
- Several ASX-listed lithium players have gained significantly in the last one year with lithium prices on the rise.
The electric vehicle (EV) market is exhibiting rapid growth, and the trend is anticipated to continue in the coming years. The robust EV market has also resulted in strong demand for auto ancillaries required in their manufacturing. Battery, one of the most important parts of EVs, comprises lithium as its prime component.
5 rising ASX lithium stars to keep a close watch on
The demand for lithium is on the rise. This year so far, lithium prices have almost doubled. Given the buoyant opportunities, lithium explorers are seeking to boost their position within the lithium market.
Related read: Three ASX-listed undervalued lithium stocks
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Australia holds significant reserves of the battery material. ASX-listed players from the lithium space are exploring all avenues available in Australia as well as in foreign lands.
Let us discuss a few ASX-listed rising lithium stars, holding the potential to become significant players in the near future. These explorers have significant exposure to lithium, with majority of their projects in the nascent phase.
Marquee Resources Limited (ASX:MQR)
Marquee Resources is a diversified mineral explorer with significant exposure to gold, rare-earth elements, and lithium. The Company operates the Clayton Valley Lithium Project in the US and the Centenario Lithium Project in Argentina.
The Centenario Lithium project sits within the infamous lithium triangle of Argentina. The Company is trading at its 52-week high price.
Related read: Marquee (ASX:MQR) shares skyrocket on ASX. Here’s why
Lodestar Minerals Limited (ASX:LSR)
Lodestar is a diversified mineral explorer with exposure to commodities including nickel, zinc, led and lithium.
The Company is engaged in the exploration of the Coolgardie West Lithium Project in the Coolgardie greenstone. During the September 2021 quarter, the Company wrapped up the review of the historical data available in the public domain.
Lodestar is planning an extensive exploration program over the tenement, including soil geochemistry during the December 2021 quarter.
Sipa Resources Limited (ASX:SIP)
The Perth-based mineral explorer maintains significant exposure in gold and base metals along with lithium.
At the Warralong Gold Project, the Company is targeting gold and lithium pegmatites. The Company commenced a drilling campaign on the prospect in August 2021 to drill test the targets identified through an aeromagnetic survey.
Related read: Five ASX lithium stocks to explore amid buoyant EV space
Metals Australia Limited (ASX:MLS)
The ASX-listed mineral explorer has its operations in Canada and Western Australia. The Company has its gold, lithium, and graphite operations in Canada. It operates three lithium projects in Quebec, Canada- Lac La Motte, Lac La Corne and Lacouciere- Darveau projects.
The lithium mineralisation lies in well-understood geology settings and includes spodumene and beryl occurrences.
Anson Resources Limited (ASX:ASN)
Anson Resources is engaged in development of the Paradox lithium-bromine project in Utah, US. The Company is undertaking advanced engineering and performance testing of lithium hydroxide and lithium carbonate in li-battery test cells.
The Company intends to discuss the study results with potential off-takers of lithium from the project.
During the September 2021 quarter, the Company received approvals to drill two production wells for extracting brine.
The NOVONIX Battery test work resulted in high-purity lithium products extracted from the Paradox Project.
Related read: Three exciting ASX-listed lithium stocks under AU$1