From ASN to RGL, ZNC – How are these lithium penny stocks performing?

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From ASN to RGL, ZNC – How are these lithium penny stocks performing?

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 From ASN to RGL, ZNC – How are these lithium penny stocks performing?
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  • Australia is one of the top exporters of lithium in the world.
  • Export of lithium is expected to contribute around AU$9.4 billion to the revenue of the Australian economy by 2023-24.
  • Anson Resources, Riversgold Ltd, Essential Metals are some the ASX-listed lithium penny stocks that are performing well this year to date.

Recently, the demand for lithium has grown significantly on a global basis. Its lightweight properties make it a major constituent of rechargeable batteries for electric vehicles (EVs), cameras, phones, and laptops. 

Globally, Australia is one of the top exporters of lithium. In 2020, Australia provided 46% of the world’s total lithium, and its exports are anticipated to increase further. It is expected to contribute AU$9.4 billion to the revenue of the Australian economy by 2023-24.

On this backdrop, we at Kalkine Media® will discuss some ASX-listed penny stocks involved in the lithium business and their year-to-date price returns as of 02 Sep 2022.

Anson Resources Ltd (ASX:ASN)

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Last month, the company executed a binding Memorandum of Understanding with Sunresin. It is a long-term strategic and commercial collaboration under which ASN will work closely with Sunresin to construct a full-scale commercial lithium plant. It will be utilising patented Direct DLE technology of Sunresin.

The share price of Anson Resources has appreciated by about 129.6% this YTD.

Riversgold Ltd (ASX:RGL)

Riversgold Ltd is an exploration company majorly focused on lithium in Western Australia. Its operations are based on Pilbara and Yilgarn cratons. Shares of RGL have gained nearly 120.7% this YTD.

Essential Metals Ltd (ASX:ESS)

Essential Metals Limited has lithium and gold projects in Western Australia (WA). Share price of the mining exploration company is up by about 117.9% this YTD.

Highlights of June 2022 quarter for ESS

  • Pioneer Dome Lithium Project, WA - Assays were received for samples from the diamond core drill (DD) programme targeted at enhancing the quality and confidence of the lithium Mineral Resource Estimate (MRE)
  • Dome North Shallow Diamond Drill Programme - By the end of the quarter, sampling of the drill core had been done and dispatched to Nagrom Laboratories for preparing samples into three representative samples.

At the end of the quarter, the company had a closing cash balance of  AU$10.5 million.

Sayona Mining Ltd (ASX:SYA)

Sayona Mining has its lithium projects in Canada and Western Australia. Shares of the ASX-listed company have gained almost 96.2% this YTD.

Last month, the company announced restarting its spodumene (lithium) production at the North American Lithium (NAL) operation in Québec. It has completed nearly  30% of plant and equipment upgrades. The company is well placed to resume production in Q1 2023. It is the sole regional provider in North America after having dedicated about AU$100 million to the restart.

Morella Corporation Ltd (ASX:1MC)

Morella Corporation, operating in the USA and Australia, is an exploration and resource development company. It is particularly focused on lithium and battery minerals. The share value of Morella is up by nearly 38.9% this YTD.

The company has received motivating results from recent geophysical surveying. It was from the USA Fish Lake Valley Lithium Project, where it confirmed additional shallow and at-depth target zones for future drilling programs. The results revealed a shallow, very high conductivity layer of potential lithium sediments to about 30m depth from the surface.

Green Technology Metals Ltd (ASX:GT1)

Green Technology Metals is an ASX-listed company that aspires to become a fully integrated manufacturer of lithium carbonate/hydroxide. It is engaged in lithium exploration and development activities in Canada.

Recently, the company announced a drilling initiation at a second major Lithium project in Ontario. It is the Root Project, situated about 200km west-north-west of GT1’s leading Seymour Project. Initially, the drilling is centered on the McCombe LCT pegmatite.

According to the company, it is another important milestone for the business. It plans to target other known spodumene-bearing LCT pegmatites at Root such as Morrison and Root Bay.

The stock price of GT1 has appreciated by about 28.8% this YTD.

Metals Australia Ltd (ASX:MLS)

Metals Australia, an ASX-listed firm, belongs to the mineral resource sector. Its lithium exploration activities are based in Western Australia. Shares of the company have gained about 27.5% this YTD.

Last month, the company purchased 80% interest in Payne Gully Gold Pty Ltd on discounted terms. The acquisition provided exposure to highly prospective battery metals and gold projects to its shareholders in recognised mining territories.

During the 2022 June quarter, the company substantially expanded exploration at its Manindi Lithium and Base Metals Projects in Western Australia and metallurgical studies at its Lac Rainy Graphite Project in Canada.

Lithium Power International Ltd (ASX:LPI)

Lithium Power International is driven by its mission of developing Chile’s next sustainable high-grade lithium mine. It has three projects located in South America and Australia. The stock value of the company appreciated by around 25% this YTD.

Highlights of the company for the June 2022 quarter

  • Three-party all-scrip merger with the company’s JV Partners led to a consolidated 100% ownership of the Maricunga Lithium Brine Project in Chile.
  • The acquisition of CMC Lithium and its Greenbushes Project in Western Australia significantly added to the tenement holdings of the company in that region.

Zenith Minerals Ltd (ASX:ZNC)

Zenith Minerals, an ASX-listed firm, is aimed at supporting the rising demand for metals crucial to the global energy transition. Shares of the battery minerals exploration company are up by around 20.0% this YTD.

Highlights of the quarter ending 30 June 2022

  • Zenith Lithium Joint Venture with EV Metals Group (EVM) – Exceptional lithium results received from maiden drill test at the Split Rocks project in Western Australia.
  • Drilling intersected considerable lithium results, in thick pegmatites, at the Waratah Well project in Western Australia.

The company intends to demerge the non-Battery Minerals projects through a new firm to be listed on ASX. 


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