This week has started out strong for ASX lithium fans, with some of the market's favourite lithium stocks leaping higher.
Indeed, these four have gained more than 10% at the time of writing. And there's been exciting news from many of the winners.
For comparison, the S&P/ASX 200 Index (ASX: XJO) is up 1.64% right now while the All Ordinaries Index (ASX: XAO) has lifted 1.66%.
So, what's driving these ASX lithium shares to outperform on Monday? Keep reading to find out.
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Why are these ASX lithium shares soaring more than 10%?
The first ASX lithium share to be posting a gain of more than 10% on Monday is Neometals Ltd (ASX: NMT).
The sustainability-focused battery mineral producer has developed a process to recover lithium from spent batteries. However, today's news from the company regards its Vanadium Recovery Project.
Finland has granted the project an environmental permit. The permit will allow the company to produce around 9,000 tonnes of vanadium pentoxide per annum from steel making by-product, slag.
The Neometals share price is currently up 11.14% at $1.167.
It's joined in the green by shares in Vulcan Energy Resources Ltd (ASX: VUL) – the company behind the Zero Carbon Lithium Project.
It revealed its sorption pilot plant has produced its highest-grade lithium hydroxide to date this morning, exceeding best-on-market battery grades. It also provided an optimistic update on its definitive feasibility study, due to be released next year.
The Vulcan Energy share price is up 11.92% right now, trading at $6.76.
The Galan Lithium Ltd (ASX: GLN) share price is also having a great day, surging 17.32% out of a trading halt to reach $1.49 at the time of writing.
The lithium explorer announced its Hombre Muerto West Project's mineral resource estimate has exploded to 5.8 million tonnes of lithium carbonate equivalent at 866 milligrams per litre lithium.
Finally, the Piedmont Lithium Inc (ASX: PLL) share price is leaping 10% to 93.5 cents today.
That's despite the company's silence. Though, it follows a similar gain posted by its NASDAQ listing overnight.
