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Japan Gets in on EV Tax Breaks Under US Inflation Reduction Act in New Battery Metals Deal

A trade deal has been struck between the United States and Japan with battery mineral set to qualify for subsidies … Read More
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2 months ago

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This article was originally published by Stockhead
  • US and Japan strike a trade deal on electric vehicle battery minerals
  • Ford plans to onshore US mining and processing capability inline with EV goals 
  • Liontown Resources biggest mover this week following Albermarle takeover offer 

Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, manganese, magnesium, and vanadium.

 

A trade deal has been struck between the United States and Japan on electric vehicle battery minerals, paving the way for Japanese automakers to get in on the US$7,500 EV tax credit.

Under the IRA rules, electric vehicles can qualify for subsidies only if at least 40% of the critical minerals within come from the US or a country it has a free trade agreement with.

Materials such as lithium, nickel, cobalt, graphite, and manganese would fall under the pact and qualify for subsidies under the Inflation Reduction Act (IRA) if collected or processed in Japan.

According to reports, Japan was working with the United States to sign the agreement in Washington on Tuesday.

“As the demand for electric vehicle batteries is expected to grow significantly, securing important minerals essential for their production is an urgent issue,” Japanese trade minister Yasutoshi Nishimura told reporters.

The US Treasury is poised to outline sourcing requirements for the EV tax subsidies by the end of the week, delivering much awaited guidance to the auto, battery, and clean energy sectors.

News comes hot on the heels of an agreement between the US and European Commission, allowing European carmakers to get access to the US market, and thus to US tax breaks.

 

Ford plans to secure all the raw materials it needs by year end

Meanwhile, over in the US, automakers are making a concerted effort to secure their own supply chains and reduce China’s stranglehold on the market.

China produces three-quarters of all lithium-ion batteries and is home to 70% of production capacity for cathodes and 85% for anodes (both are key components of batteries).

Ford CEO Jim Farley told Yahoo the challenge is going to be to onshore all of that capability in the US.

“It will be a huge job, just like it has been for semiconductors,” he said.

 

 

“Batteries are the constraint with both nickel and lithium being the top two key constraining commodities.

“We normally get those materials from all over the world from South America to Africa to Indonesia and Southeast Asia but we want to localise that here in North America – not just the mining but the processing of the materials,” he explained.

“We build about 5 million vehicles at Ford, but we are going to build an extra 2 million with our EV business – that’s why we call ‘Model e’ a start-up because we are going to grow the company’s revenue by about 30 or 40 per cent.

“This is a growth business… by the end of this year we will secure all the raw materials to make 2 million batteries by 2026 that we are going to need to go into our vehicles.

“We are in good shape because we’ve been working on this for a couple of years now.”

 

Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese, and vanadium is performing>>>

Battery metals stocks missing from our list? Shoot a mail to [email protected].

CODE COMPANY PRICE 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR TURN % MARKET CAP
VIA Viagold Rare Earth 2 0% 0% 0% 0% $166,624,808
PVW PVW Res Ltd 0.077 3% -13% -55% -85% $7,384,770
A8G Australasian Metals 0.16 3% -6% -45% -67% $6,998,984
INF Infinity Lithium 0.11 10% 0% -37% -37% $46,259,209
LPI Lithium Pwr Int Ltd 0.31 17% -5% -43% -54% $176,147,317
PSC Prospect Res Ltd 0.15 0% -21% 58% 240% $76,272,811
PAM Pan Asia Metals 0.345 -1% -7% -9% -41% $48,858,261
CXO Core Lithium 0.9 11% -3% -24% -26% $1,446,913,099
LOT Lotus Resources Ltd 0.17 6% -17% -23% -51% $208,254,940
AGY Argosy Minerals Ltd 0.465 -1% -34% -12% 7% $561,762,999
AZS Azure Minerals 0.33 22% 14% 89% -8% $122,924,363
NWC New World Resources 0.047 24% 0% 47% -6% $86,325,174
QXR Qx Resources Limited 0.032 14% -16% -3% -48% $26,905,870
GSR Greenstone Resources 0.021 0% -5% -66% -42% $26,568,937
CAE Cannindah Resources 0.185 16% 0% -5% -42% $103,966,291
AZL Arizona Lithium Ltd 0.05 6% -17% -37% -68% $112,355,213
HNR Hannans Ltd 0.011 22% -8% -48% -72% $27,246,048
COB Cobalt Blue Ltd 0.375 12% -11% -47% -54% $127,669,848
ESS Essential Metals Ltd 0.485 0% -2% 9% 0% $129,100,930
LPD Lepidico Ltd 0.011 0% -21% -54% -71% $80,196,603
MRD Mount Ridley Mines 0.0035 -13% -30% -36% -61% $23,354,649
CZN Corazon Ltd 0.015 0% -21% -6% -53% $9,154,958
LKE Lake Resources 0.45 -10% -23% -52% -75% $589,277,052
DEV Devex Resources Ltd 0.265 10% 6% -17% -44% $94,548,537
INR Ioneer Ltd 0.3 5% -19% -49% -46% $566,551,332
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% -32% $2,752,409,203
MAN Mandrake Res Ltd 0.043 8% -20% 23% -34% $25,746,677
RLC Reedy Lagoon Corp. 0.006 0% -25% -60% -81% $3,400,318
GBR Greatbould Resources 0.092 5% -4% 1% -29% $42,202,706
FRS Forrestaniaresources 0.096 -1% -31% -51% -72% $4,932,196
STK Strickland Metals 0.036 -3% -10% -12% -33% $55,977,435
MLX Metals X Limited 0.285 12% -10% 6% -59% $258,570,829
CLA Celsius Resource Ltd 0.015 -12% -12% 0% -50% $27,984,793
FGR First Graphene Ltd 0.083 -2% -21% -28% -51% $47,266,627
HXG Hexagon Energy 0.011 0% -21% -29% -79% $5,642,075
TLG Talga Group Ltd 1.485 -4% -10% 5% 3% $539,148,087
MNS Magnis Energy Tech 0.255 -16% -27% -32% -51% $267,737,843
OZL OZ Minerals 28.01 0% 0% 9% 4% $9,394,447,048
PLL Piedmont Lithium Inc 0.805 3% -10% -5% -21% $331,075,935
EUR European Lithium Ltd 0.065 -3% -4% -13% -54% $92,332,829
BKT Black Rock Mining 0.125 14% -14% -24% -50% $128,178,530
QEM QEM Limited 0.18 -12% -10% -15% -5% $24,325,842
LYC Lynas Rare Earths 6.54 5% -18% -14% -37% $5,939,066,434
ESR Estrella Res Ltd 0.012 9% -8% 0% -59% $14,835,719
ARL Ardea Resources Ltd 0.52 9% -5% -41% -68% $84,036,358
GLN Galan Lithium Ltd 1.025 3% -8% -15% -40% $290,035,058
JRL Jindalee Resources 2.5 5% 2% 9% -16% $134,840,570
VUL Vulcan Energy 5.57 -4% -10% -26% -45% $760,207,095
SBR Sabre Resources 0.027 13% -16% -46% -55% $8,161,613
CHN Chalice Mining Ltd 6.84 11% 13% 85% -8% $2,364,088,378
VRC Volt Resources Ltd 0.01 -17% -9% -58% -44% $39,394,239
NMT Neometals Ltd 0.595 5% -26% -48% -66% $312,298,764
AXN Alliance Nickel Ltd 0.1 6% 2% -9% 19% $64,250,628
PNN Power Minerals Ltd 0.295 -9% -27% -39% -34% $20,951,294
IGO IGO Limited 12.79 9% -1% -9% -7% $9,072,068,400
GED Golden Deeps 0.008 0% -11% -43% -20% $9,241,814
ADV Ardiden Ltd 0.007 17% 0% -13% -50% $18,818,347
SRI Sipa Resources Ltd 0.022 -15% -19% -54% -59% $5,247,637
NTU Northern Min Ltd 0.039 8% -7% -7% -24% $203,105,836
AXE Archer Materials 0.435 -2% -17% -42% -53% $107,055,899
PGM Platina Resources 0.021 24% 5% -11% -58% $11,840,426
AAJ Aruma Resources Ltd 0.06 11% -5% 3% -38% $8,946,806
IXR Ionic Rare Earths 0.028 0% -20% -33% -63% $106,544,833
NIC Nickel Industries 0.89 3% -7% 11% -31% $2,615,982,541
EVG Evion Group NL 0.066 12% 12% -21% -47% $17,881,358
CWX Carawine Resources 0.091 -7% -9% -4% -57% $19,288,112
PLS Pilbara Min Ltd 3.85 11% -8% -18% 20% $10,313,166,505
HAS Hastings Tech Met 2.36 -14% 4% -36% -55% $302,277,723
BUX Buxton Resources Ltd 0.185 3% -18% 87% 68% $29,562,778
ARR American Rare Earths 0.215 5% -14% -7% -52% $95,971,872
SGQ St George Min Ltd 0.053 -9% -24% 56% 6% $42,866,038
TKL Traka Resources 0.006 0% -14% 0% -45% $4,336,647
PAN Panoramic Resources 0.145 16% 4% -24% -51% $297,382,531
PRL Province Resources 0.041 14% -23% -48% -61% $43,715,246
IPT Impact Minerals 0.0095 19% -5% 36% -25% $24,813,706
LIT Lithium Australia 0.034 0% -15% -38% -70% $40,299,325
AKE Allkem Limited 11.53 14% 3% -20% 5% $6,465,852,992
ARN Aldoro Resources 0.18 -14% 13% -16% -44% $22,582,463
JRV Jervois Global Ltd 0.115 -12% -38% -75% -87% $249,511,316
MCR Mincor Resources NL 1.505 45% 22% -15% -34% $809,250,691
SYR Syrah Resources 1.68 8% -5% 7% 7% $1,035,579,006
FBM Future Battery 0.069 21% 21% 11% -40% $28,665,624
ADD Adavale Resource Ltd 0.013 8% -28% -61% -67% $5,714,787
LTR Liontown Resources 2.57 72% 95% 70% 34% $3,352,643,315
CTM Centaurus Metals Ltd 0.9 13% -8% -13% -33% $377,989,052
VML Vital Metals Limited 0.016 -24% -33% -52% -71% $84,898,396
BSX Blackstone Ltd 0.1625 2% 12% -7% -60% $75,790,225
POS Poseidon Nick Ltd 0.038 9% 6% -14% -60% $129,353,174
CHR Charger Metals 0.3 20% 2% -34% -60% $10,928,592
AVL Aust Vanadium Ltd 0.039 26% 22% 11% -40% $165,817,758
AUZ Australian Mines Ltd 0.028 -10% -36% -60% -85% $16,056,669
TMT Technology Metals 0.34 55% 13% -3% -22% $74,487,718
RXL Rox Resources 0.275 -4% 90% 8% -31% $63,940,964
RNU Renascor Res Ltd 0.225 7% 7% 22% -24% $520,578,537
GL1 Globallith 1.295 10% -15% -43% -42% $229,161,250
BRB Breaker Res NL 0.4 7% 45% 105% 51% $132,370,534
ASN Anson Resources Ltd 0.185 -5% -3% -38% 32% $213,299,990
SYA Sayona Mining Ltd 0.205 0% -9% -11% -11% $1,643,809,828
FFX Firefinch Ltd 0.2 0% 0% 0% -39% $236,569,315
EGR Ecograf Limited 0.19 -5% -10% -42% -65% $83,311,690
ATM Aneka Tambang 1.1 0% 0% -4% 0% $1,434,014
TVN Tivan Limited 0.074 -4% -12% -9% 4% $104,131,367
ALY Alchemy Resource Ltd 0.013 -13% -13% -32% 0% $16,493,068
GAL Galileo Mining Ltd 0.725 34% -4% -39% 254% $135,373,075
BHP BHP Group Limited 44.4 3% 0% 19% 0% $220,616,485,214
LEL Lithenergy 0.615 11% -15% -23% -34% $33,082,500
MMC Mitremining 0.275 20% -10% 62% 57% $10,514,653
RMX Red Mount Min Ltd 0.004 33% -20% -20% -56% $9,087,404
GW1 Greenwing Resources 0.2 -11% -9% -44% -38% $26,773,561
AQD Ausquest Limited 0.017 6% 0% -11% -19% $14,027,537
LML Lincoln Minerals 0.02 -13% -17% 192% 192% $11,499,674
1MC Morella Corporation 0.008 0% -27% -65% -76% $42,690,063
REE Rarex Limited 0.047 -2% -6% -22% -51% $27,231,169
MRC Mineral Commodities 0.06 0% -3% -28% -45% $39,412,989
PUR Pursuit Minerals 0.018 -14% -33% 44% -14% $22,557,766
QPM Queensland Pacific 0.11 0% 15% -21% -42% $183,366,532
EMH European Metals Hldg 0.575 -4% -3% -22% -55% $72,448,511
BMM Balkanminingandmin 0.23 -4% -39% -25% -32% $9,402,123
PEK Peak Rare Earths Ltd 0.475 0% -20% 8% -40% $101,031,529
LEG Legend Mining 0.049 26% 2% 32% -28% $119,848,404
MOH Moho Resources 0.019 19% 12% -34% -63% $3,737,920
AML Aeon Metals Ltd. 0.022 -12% -4% -21% -61% $24,120,814
G88 Golden Mile Res Ltd 0.015 0% -26% -52% -76% $3,068,846
WKT Walkabout Resources 0.11 0% 16% -36% -41% $69,420,972
TON Triton Min Ltd 0.029 -3% -12% 45% 7% $38,717,957
AR3 Austrare 0.24 14% 14% -29% -68% $20,944,341
ARU Arafura Rare Earths 0.495 -2% -18% 52% 68% $982,575,608
MIN Mineral Resources. 80.98 5% 2% 23% 66% $14,727,295,951
VMC Venus Metals Cor Ltd 0.155 15% 15% 0% -11% $28,492,589
S2R S2 Resources 0.135 -7% 0% 4% -21% $57,412,813
CNJ Conico Ltd 0.01 5% -9% -71% -39% $13,544,717
VR8 Vanadium Resources 0.072 3% 6% -10% -6% $35,362,103
PVT Pivotal Metals Ltd 0.033 -3% -18% 10% -31% $14,234,313
BOA Boadicea Resources 0.079 0% -16% -37% -63% $6,170,147
IPX Iperionx Limited 0.73 4% -17% -14% -42% $122,377,812
SLZ Sultan Resources Ltd 0.04 -30% -23% -55% -74% $3,497,944
NKL Nickelxltd 0.06 -2% -19% -54% -59% $4,786,000
NVA Nova Minerals Ltd 0.44 -1% -18% -38% -38% $95,954,848
MLS Metals Australia 0.038 6% -24% -14% -60% $21,246,267
MQR Marquee Resource Ltd 0.019 -5% -37% -68% -83% $6,380,546
MRR Minrex Resources Ltd 0.022 5% -27% -52% -67% $24,951,953
EVR Ev Resources Ltd 0.015 15% 0% -42% -73% $13,103,777
EFE Eastern Resources 0.0105 -5% -34% -65% -80% $12,419,465
CNB Carnaby Resource Ltd 1.05 11% -6% 46% -21% $146,188,198
BNR Bulletin Res Ltd 0.086 -4% -22% -28% -61% $26,423,199
AX8 Accelerate Resources 0.022 -4% -12% -39% -64% $8,307,239
AM7 Arcadia Minerals 0.195 -7% -19% -34% -25% $9,106,089
AS2 Askarimetalslimited 0.44 -12% -23% 60% -19% $19,551,524
BYH Bryah Resources Ltd 0.022 22% 5% -12% -57% $5,625,069
DTM Dart Mining NL 0.056 47% 22% -23% -35% $8,092,269
EMS Eastern Metals 0.062 0% -10% -59% -68% $2,421,994
FG1 Flynngold 0.079 -5% 25% -31% -41% $8,332,756
GSM Golden State Mining 0.032 -9% -14% -30% -62% $3,393,412
IMI Infinitymining 0.175 0% -10% -15% 3% $14,148,489
LRV Larvottoresources 0.15 0% -9% -30% -30% $9,751,935
LSR Lodestar Minerals 0.005 0% 0% -29% -64% $8,692,187
RAG Ragnar Metals Ltd 0.015 7% -6% -63% -52% $5,687,773
CTN Catalina Resources 0.0055 38% -8% -39% -69% $8,669,408
TMB Tambourahmetals 0.086 -14% -18% -46% -65% $3,583,756
TEM Tempest Minerals 0.021 -9% -9% -34% -9% $10,636,560
EMC Everest Metals Corp 0.075 0% -11% -25% -39% $7,556,751
WML Woomera Mining Ltd 0.01 -17% -23% -37% -47% $9,561,612
KZR Kalamazoo Resources 0.135 0% -21% -32% -62% $20,974,712
LMG Latrobe Magnesium 0.057 -15% -22% -30% -35% $97,397,122
KOR Korab Resources 0.02 5% -13% -29% -52% $6,606,900
CMX Chemxmaterials 0.1 -17% -31% -44% -53% $5,066,113
NC1 Nicoresourceslimited 0.51 10% -7% -12% -54% $43,962,501
GRE Greentechmetals 0.1 -23% -26% -29% -52% $3,713,350
CMO Cosmometalslimited 0.125 0% 0% -14% -17% $3,188,750
FRB Firebird Metals 0.135 4% -21% -33% -60% $9,865,125
S32 South32 Limited 4.19 4% -2% 13% -18% $18,830,450,256
OMH OM Holdings Limited 0.725 0% -8% 16% -14% $528,115,686
JMS Jupiter Mines. 0.215 0% -10% 10% -17% $411,388,117
E25 Element 25 Ltd 0.62 5% -12% -20% -41% $113,323,919
EMN Euromanganese 0.23 -6% -16% -15% -50% $57,985,853
KGD Kula Gold Limited 0.018 6% -18% -38% -60% $5,779,391
LRS Latin Resources Ltd 0.11 -4% 0% 15% 45% $220,165,492
CRR Critical Resources 0.041 11% -16% -41% -47% $57,411,175
ENT Enterprise Metals 0.008 0% 0% -27% -41% $5,640,646
SCN Scorpion Minerals 0.069 15% 0% -1% 11% $21,433,784
GCM Green Critical Min 0.012 0% -29% -8% -3% $12,824,222
ENV Enova Mining Limited 0.012 0% 0% -29% -33% $4,691,152
RBX Resource B 0.125 -7% -7% 47% -32% $7,704,427
AKN Auking Mining Ltd 0.059 -2% -14% -29% -67% $11,780,802
RR1 Reach Resources Ltd 0.004 33% -20% -33% -50% $9,510,203
EMT Emetals Limited 0.009 0% -10% -47% -40% $7,650,000
PNT Panthermetalsltd 0.12 -17% -25% -41% -52% $3,843,750
WIN Widgienickellimited 0.295 9% -14% 13% -38% $71,638,406
WMG Western Mines 0.15 -3% -17% 20% -36% $6,770,363
AVW Avira Resources Ltd 0.003 50% 0% -25% -50% $6,401,370
CAI Calidus Resources 0.225 0% -2% -56% -77% $105,492,202
GT1 Greentechnology 0.66 10% 2% -14% -27% $118,257,804
KAI Kairos Minerals Ltd 0.0195 15% 3% -43% -30% $37,317,776
MTM Mtmongerresources 0.1 1% -5% -23% -46% $7,076,025
NWM Norwest Minerals 0.029 -12% -12% -24% -53% $6,431,651
PGD Peregrine Gold 0.385 -3% -9% -33% -19% $15,287,813
RAS Ragusa Minerals Ltd 0.073 -4% -27% -82% -13% $9,981,915
RGL Riversgold 0.016 7% -27% -56% -71% $16,072,951
SRZ Stellar Resources 0.011 0% 10% -21% -61% $11,050,940
STM Sunstone Metals Ltd 0.036 20% 3% 0% -56% $75,992,946
ZNC Zenith Minerals Ltd 0.195 3% -13% -30% -48% $65,065,618
WC8 Wildcat Resources 0.028 -7% 0% -13% -15% $19,198,659
ASO Aston Minerals Ltd 0.11 0% 11% 53% -31% $116,920,748
THR Thor Energy PLC 0.0045 -10% -18% -50% -65% $6,651,508
CZL Cons Zinc Ltd 0.016 -11% -20% -27% -45% $7,717,725
IG6 Internationalgraphit 0.19 3% -27% -44% 0% $17,157,681
LPM Lithium Plus 0.235 2% -18% -63% 0% $10,686,522
ODE Odessa Minerals Ltd 0.008 0% -33% -58% -43% $5,655,641
KOB Kobaresourceslimited 0.14 4% -3% 12% 0% $10,885,000
AZI Altamin Limited 0.064 -16% -17% -20% -14% $28,987,040
FTL Firetail Resources 0.1 -5% -33% -46% 0% $6,825,000
LNR Lanthanein Resources 0.0155 -3% -18% -60% -50% $15,702,058
CLZ Classic Min Ltd 0.002 0% -33% -88% -99% $2,801,583
NVX Novonix Limited 1.16 -6% -23% -38% -79% $538,005,638
OCN Oceanalithiumlimited 0.34 1% -1% -35% 0% $12,024,480
SUM Summitminerals 0.125 -4% -17% -29% 0% $2,843,668
DVP Develop Global Ltd 2.95 4% -5% 19% -10% $474,882,708
XTC Xantippe Res Ltd 0.004 -20% -33% -56% -50% $47,610,449
OD6 Od6Metalsltd 0.165 -25% -37% -11% 0% $9,627,712
HRE Heavy Rare Earths 0.11 17% -21% -31% 0% $5,948,793
LIN Lindian Resources 0.23 -4% 5% -29% 642% $225,345,218
PEK Peak Rare Earths Ltd 0.475 0% -20% 8% -40% $101,031,529
ILU Iluka Resources 10.26 4% 0% 14% -5% $4,327,470,654
ASM Ausstratmaterials 1.26 -2% -21% -47% -85% $208,381,534
ETM Energy Transition 0.043 -2% -9% -7% -34% $58,296,993
VMS Venture Minerals 0.02 -5% -13% -20% -52% $35,334,152
IDA Indiana Resources 0.05 0% -9% -22% -17% $25,060,241
VTM Victory Metals Ltd 0.215 23% 8% 13% 34% $10,733,739
M2R Miramar 0.045 0% -37% -51% -72% $3,359,235
WCN White Cliff Min Ltd 0.009 -10% -18% -53% -64% $7,056,490
TAR Taruga Minerals 0.014 -13% -22% -50% -48% $9,884,375
ABX ABX Group Limited 0.12 0% -8% -20% -35% $26,830,898
MEK Meeka Metals Limited 0.044 2% 0% -28% -14% $48,042,402
RR1 Reach Resources Ltd 0.004 33% -20% -33% -50% $9,510,203
DRE Dreadnought Resources Ltd 0.061 -3% -21% -42% 53% $197,623,693
KFM Kingfisher Mining 0.25 19% -18% -49% 0% $11,817,300
AOA Ausmon Resorces 0.005 25% 0% -38% -38% $4,846,447
WC1 Westcobarmetals 0.088 -2% -43% -62% -32% $7,601,769
GRL Godolphin Resources 0.085 55% 20% -3% -50% $10,061,403
DM1 Desert Metals 0.14 22% -13% -71% -68% $8,342,224
PTR Petratherm Ltd 0.059 5% -18% -18% 59% $12,586,064
ITM Itech Minerals Ltd 0.265 8% -2% -32% -49% $29,233,391
KTA Krakatoa Resources 0.029 4% -26% -52% -38% $9,996,588
M24 Mamba Exploration 0.075 -25% -40% -38% -53% $4,512,767
LNR Lanthanein Resources 0.0155 -3% -18% -60% -50% $15,702,058
TKM Trek Metals Ltd 0.069 11% 10% 10% -3% $23,656,430
BCA Black Canyon Limited 0.23 2% -2% 10% -26% $9,416,920
CDT Castle Minerals 0.019 12% -14% -27% -67% $20,240,874
RDT Red Dirt Metals Ltd 0.33 0% -19% -45% -52% $129,023,172
A11 Atlantic Lithium 0.47 -2% -26% -16% 0% $278,641,164
KNI Kunikolimited 0.465 15% -1% -31% -63% $23,889,210
CY5 Cygnus Metals Ltd 0.225 -6% -27% -6% 32% $34,016,729
WR1 Winsome Resources 1.475 7% -26% 392% 224% $213,072,760
LLI Loyal Lithium Ltd 0.32 39% -3% -25% 21% $12,492,900
BC8 Black Cat Syndicate 0.395 14% 1% 27% -34% $102,468,502
BUR Burleyminerals 0.22 16% -19% 57% 69% $11,668,727
PBL Parabellumresources 0.345 0% -7% 30% 97% $18,879,263
L1M Lightning Minerals 0.15 0% 0% 0% 0% $5,217,975
WA1 Wa1Resourcesltd 1.115 -9% -10% 619% 444% $36,655,986
EV1 Evolutionenergy 0.26 4% -2% 8% -38% $39,162,500
1AE Auroraenergymetals 0.085 -11% -26% -62% 0% $11,047,876
RVT Richmond Vanadium 0.375 -7% 0% 0% 0% $33,621,044
PMT Patriotbatterymetals 1.48 30% 1% 0% 0% $296,897,388
PAT Patriot Lithium 0.265 -2% -18% 0% 0% $14,917,438
BM8 Battery Age Minerals 0.4 8% -17% -20% 0% $26,347,448
OM1 Omnia Metals Group 0.26 30% 6% 68% 53% $6,966,648
VHM Vhmlimited 0.795 -1% -10% 0% 0% $113,888,259
LLL Leolithiumlimited 0.485 8% -4% -20% 0% $434,129,041
SRN Surefire Rescs NL 0.02 25% 43% 43% 67% $31,627,270
SRL Sunrise 1.595 17% -2% -42% -32% $136,887,976
SYR Syrah Resources 1.68 8% -5% 7% 7% $1,035,579,006
               

 

LIONTOWN RESOURCES (ASX:LTR) 

Liontown is the biggest mover this week  following its rejection of a $5.2 billion takeover offer from one of the world’s largest lithium producers, Albermarle.

It was the third time in five months Albermarle had made an offer for the Kathleen Valley mine developer with previous non-binding indicative proposals including $2.35 per share and $2.20 per share.

This time it valued LTR at $2.50 a share, more than it has ever been worth, however LTR’s board of directors determined it substantially undervalued the company and was not in the best interest of shareholders.

NOW READ: Is Albemarle’s bid for LTR the ‘starter gun’ for lithium takeovers?

 

 

 

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