A brief analysis of the top 8 lithium miners by 2024 shows some remarkable differences in the amount of lithium they have as a JORC and their market capitalisation on the ASX share exchange. Lithium is used for both grid and electric vehicle (EV) market. A broader review of lithium and the new technology from direct lithium extraction (Lithium from DLE here). There is a shortage of lithium and over 150 companies are exploring or producing it.
Top 8 Lithium Miners by 2024The table is sourced from Yahoo Finance, from company reports and lists companies who are close to building mines. Not all have confirmed finance, and the resources will change (generally increase) as they continue the building of pilot plants or drilling for confirmation.
MCap = Market Cap April 2022 (billions)
SPI= share price indicated by brokers (from Yahoo Finance
LCE = Resources JROC of lithium carbonum equivalent.
|CXO||Core Lithium||$2.20||$1.29||$0.82||194,304||$11,322||Q4 2022||Extending their drilling||Core Lithium|
|GLN||Galan Lithium||$0.61||$2.02||$4.90||2,531,100||$243||Q1 2024||20kt Hombre Muerto West NPV of 1.30B, also Greenbushes in AU||Galan Lithium|
|SYA||Sayona||$2.10||$0.30||$0.42||1,786,500||$1,175||Q1 2023||220kt Spodumene, only 75m Capital required||Sayona|
|FFX||Firefinch||$1.30||$1.07||$1.85||1,570,000||$828||Splitting out Leo Lithium||Firefinch|
|PLS||Pilbara||$9.20||$3.08||3,500,000||$2,629||H2 2023||plus 71.7m lbs of tantalum||Pilbara|
|LKE||Lake Resources||$2.50||$2.05||$1.82||4,400,000||$568||H1 2023||DLE pilot + 3 other sites full production 2024||Lake|
|LTR||Liontown||$3.70||$1.69||$3.06||21,840,000||$169||Q2 2024||Plus Tantalum||Liontown|
|AVZ||AVZ Minerals||$3.47||$1.01||$1.00||21,353,000||$163||Q1 2024||Plus Sn 130kT||AVZ Minerals|
Other Top Lithium Miners Notes
The table above collates the date from popular stocks on the Australian market. There are many established lithium miners, and these 9 are due to produce by 2024. For example Stockhead says these 4 stocks will be in the top list.
- Lithium carbonate prices rose to $US63,900 in Feb 2022, a massive gain of more than 450% for the year.
- Sayona owns advanced exploration assets in Canada’s Quebec province, where it recently announced a doubling of the Authier and North American Lithium projects
- AVZ Minerals is the majority owner of the Manono Lithium and Tin Project in the Democratic Republic of Congo, which contains one of the largest and highest-grade undeveloped hardrock lithium resources in the world.
- Core Lithium’s Finniss Lithium Project in the NT Australia continues to run according to schedule and they are expanding their tenants.
- Lakes projects cover 200 sq km in a prime location within the Lithium Triangle, where 40% of the world’s lithium is produced at the lowest cost. They are planning to use DLE technology, and have another 3 tenants.
- Firefinch has both gold and lithium and will demerge the Mali lithium into Leo Lithium. They are already producing gold.
Comparison of Miners by Sigma
Mergers and Acquisitions
The industry will see mergers – one such merger was Allkem and Livent in early 2023 which takes production from 60ktpa to 250tpa