The fast-rising miner in question is Atlantic Lithium Ltd (ASX: A11).

Atlantic Lithium shares closed yesterday trading for 31.5 cents. During the lunch hour today, shares are changing hands for 36.0 cents apiece, up 14.3%.

At the current price, Atlantic Lithium shares are now up 100% since this time last year.

If you're not familiar with Atlantic, the junior ASX lithium share is primarily focused on its flagship Ewoyaa Lithium Project. Located in Ghana, Atlantic is working to advance Ewoyaa through to production to become the country's first lithium-producing mine.

Now, here's what grabbing ASX investor interest today.

ASX lithium share jumps on project approval

Investors are bidding up the Atlantic Lithium share price after the company announced that Ghana's parliament has ratified the mining lease for Ewoyaa.

The Ewoyaa mining lease is the first to ever be granted and ratified for mining lithium in Ghana.

Having received formal approval for its proposed Ewoyaa Lithium Mine and Processing Plant, the ASX lithium share said it can now advance project funding discussions and continue its progress towards a Final Investment Decision (FID).

Under the terms of the mining lease, Atlantic Lithium has the exclusive rights to carry out mining and commercial production activities for an initial 15-year period, renewable in accordance with Ghanaian legislation.

The ASX lithium share will pay the government a royalty rate between 5% and 12%, based on the spodumene prices at the time.

What did management say?

Commenting on the government approval boosting the ASX lithium share today, Atlantic CEO Keith Muller said, "Parliamentary ratification of the mining lease for the Ewoyaa Lithium Project marks a watershed moment for both Ghana and Atlantic Lithium."

Muller added:

We are delighted to have the full support of the government as we work towards achieving first production of spodumene. Having already built itself to become a leading gold producer, Ghana has now taken a major step towards a new lithium future.

Looking ahead, Muller concluded:

Shortly, we intend to provide further clarity on the outcomes of the work we completed through H2 2025 to enhance the viability of the project through ongoing commodity price volatility.

This work will help define the direction of the project's development and inform the steps to be taken ahead of a project Final Investment Decision.

The post Guess which ASX lithium share is leaping 14% in Friday's sinking market appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Ampol Ltd (ASX: ALD)

The Ampol share price is up 1.5% to $33.52. Investors have been buying this fuel retailer's shares after releasing an update outlining changes to the Fuel Security Services Payment (FSSP) and on its fuel supply operations. The former has seen an increase in the collar from 6.4 cents per litre to 10.0 cents per litre. The company's CEO, Matt Halliday, said: "We welcome the adjustments made to the FSSP, which effectively increase the level at which payments under the scheme will commence. The important role Australian refineries play in supporting the resilience of our domestic fuel supply is being reinforced in the current global oil market environment. The amendments recognise the significant cost increases, and capital investment made, since the scheme began in 2021 and the importance of maintaining an economically viable domestic oil refining capability in Australia for the medium term by providing support when refiner margins do not cover the cost of production."

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is up 11% to 35 cents. This morning, the lithium explorer announced the ratification of the mining lease of its flagship Ewoyaa Lithium Project by the Parliament of Ghana. It notes that this means the company can advance discussions relating to project funding and continue its progress towards a project final investment decision. Atlantic Lithium's CEO, Keith Muller, said: "We are delighted to have the full support of the Government as we work towards achieving first production of spodumene. Having already built itself to become a leading gold producer, Ghana has now taken a major step towards a new lithium future."

Brightstar Resources Ltd (ASX: BTR)

The Brightstar Resources share price is up 2% to 34.7 cents. This follows news that the gold developer has successfully completed its funding package. The company notes that this means it is now fully funded through to gold production at the Goldfields Project and the Sandstone Project final investment decision. Brightstar's managing director, Alex Rovira, commented: "We are delighted to have successfully executed on this funding package, particularly in the context of the challenging market conditions over the past weeks."

Premier Investments Ltd (ASX: PMV)

The Premier Investments share price is up almost 4% to $13.00. Investors have been buying the retailer's shares following the release of its half-year results. The company reported Premier Retail underlying EBIT of $119.3 million, which was in line with its guidance. This allowed the company's board to declare a fully franked interim dividend of 45 cents per share.

The post Why Ampol, Atlantic Lithium, Brightstar, and Premier Investments shares are rising today appeared first on The Motley Fool Australia.

Lithium prices have been trending sharply higher in recent weeks, following a sell-off in late August, which has taken the share prices of Australian producers higher.

Large Chinese mine could restart soon

But the bull run appears to have hit a hiccup in the past couple of days, after Bloomberg reported that CATL was planning to restart production at its mine in Jiangxi Province, where mining was halted in August.

Reports have put the mine's production at about 3% of global lithium production, and CATL has been making progress in recent weeks to have its mining permit at the project reinstated.

The Bloomberg report said unnamed sources had confirmed that the battery maker had formulated a preliminary plan to restart the mine by early December, and had also asked its suppliers and partners to ready themselves in anticipation of production recommencing.

The report said CATL had not responded to requests to comment on the speculation.

Aussie shares bear the brunt

Shares in Australian lithium producers were leading falls among S&P/ASX 200 Index (ASX: XJO) companies on Monday, with the Gina Rinehart-backed Liontown Resources Ltd (ASX: LTR) down 3.4% to $1.42.

Shares in Mineral Resources Ltd (ASX: MIN) were 2.6% lower at $47.55, IGO Ltd (ASX: IGO) was off 2.6% at $6.30, and Pilbara Minerals Ltd (ASX: PLS) shares were 2.3% lower at $3.81.

Reuters was reporting late last week that the CATL news pushed lithium prices quoted on the Guangzhou Futures Exchange sharply lower, down 9% on Friday, after hitting the highest levels since June 2024 the previous day.

New lithium cycle to underpin gains

The team at Macquarie remains bullish on lithium, stating in a research note to clients last week that a new lithium cycle has begun.

As they said in their note to clients:

As highlighted in our September note, we identified early signs of a new lithium cycle, driven by a widening imbalance between supply and demand. This constructive view has been validated by the market over the past two months, evidenced by continued inventory drawdowns and a steady increase in spot spodumene prices.

Macquarie's top picks in the lithium sector were IGO, Elevra Lithium Ltd (ASX: ELV), and Patriot Battery Metals Ltd (ASX: PMT).

Among other shares, it has a neutral rating on Atlantic Lithium Ltd (ASX: A11) and an underperform rating on Liontown.

The post Why are shares in Aussie lithium producers being sold off today? appeared first on The Motley Fool Australia.

But not all lithium producers are created equal, which is where it helps to get a bit of insight from the professionals.

New lithium cycle has begun

The team at Macquarie have just released a new Critical Minerals Chronicle, with the cautionary subtitle: Cool heads required in a heating lithium market.

They were bullish on lithium, which is widely used in the production of batteries, and went on to say:

As highlighted in our September note, we identified early signs of a new lithium cycle, driven by a widening imbalance between supply and demand. This constructive view has been validated by the market over the past two months, evidenced by continued inventory drawdowns and a steady increase in spot spodumene prices.

That said, some lithium shares were running a bit too hot, the Macquarie analysts said, with Pilbara Minerals Ltd (ASX: PLS) and Mineral Resources Ltd (ASX: MIN) both trading at implied lithium prices which were higher than current levels.

Macquarie has a neutral rating on Pilbara Minerals and an underperform rating on Mineral Resources.

The shares it rates as outperform in the sector are IGO Limited (ASX: IGO), Elevra Lithium (ASX: ELV) and Patriot Battery Metals Ltd (ASX: PMT).

Among other shares, it has a neutral rating on Atlantic Lithium Ltd (ASX: A11) and an underperform rating on Liontown Resources Ltd (ASX: LTR)

Mine restart possible

One company not covered by the Macquarie research note is Core Lithium Ltd (ASX: CXO), which on Monday hit a new 12-month high of 22 cents.

The company didn't release any news on Monday, but said recently in its quarterly activity report that it was biding its time on a decision to restart operations at its Finnis mine in the Northern Territory, where it currently has a small team maintaining the mine.

The company's chair Greg English recently said:

We are not yet at a point where the board could consider restarting the operation, which I appreciate is a key focus for Core Lithium shareholders. Any decision in this regard remains subject to market conditions and securing an attractive project financing solution in the ongoing strategic process, amongst other factors. As I mentioned, there have been some recent signs of improvement in sentiment towards lithium which we would like to see continue.

The post Macquarie names which lithium stocks to buy, and which to avoid appeared first on The Motley Fool Australia.

Eek.

But as ASX lithium stock investors know, that's the environment in which we find ourselves for now!

It won't be like this forever. Much hinges on commodity prices, and for the time being, they are weak.

This is due to lower demand for electric vehicles (EV) and higher global lithium supply caused by more mines producing the white metal today following the boom in lithium prices in 2021 and 2022.

The lithium carbonate price fell by 22.23% in 2024, according to Trading Economics.

Lithium prices traded between highs of about US$15,960 per tonne in March to lows of about US$9,800 per tonne in September.

The long-term decline in lithium prices has been a painful road for ASX lithium share investors.

The carbonate price has fallen from a record US$78,790 per tonne in December 2022 to US$10,385 per tonne as of 31 December 2024.

Let's see which lithium shares within the S&P/ASX All Ordinaries Index (ASX: XAO) did best in 2024 in terms of share price growth

Top 5 ASX lithium shares of 2024

Vulcan Energy Resources Ltd (ASX: VUL)

Vulcan Resources was the strongest gainer among ASX All Ords lithium shares in 2024.

The Vulcan Resources share price rose by 87.72% to close the year at $5.35.

Vulcan's goal is to deliver Europe's first locally sourced battery-grade lithium hydroxide from raw material to end product. The company achieved this in November when it commenced operations at its lithium hydroxide optimisation plant, called the Vulcan Central Lithium Electrolysis Optimisation Plant (CLEOP).

In recent news, Vulcan conducted an A$184 million capital raise at $5.85 per new share last month to start phase one of the Lionheart Project in Germany's Upper Rhine Valley.

Ioneer Ltd (ASX: INR)

The Ioneer share price rose by 6.67% in 2024 to close the year at 16 cents per share.

In October, the US Bureau of Land Management granted final approval for Ioneer's Rhyolite Ridge Lithium-Boron Project in Nevada.

This made Rhyolite Ridge the first US lithium project approved under the Biden administration. Construction will begin this year.

The mine is expected to produce enough lithium to power 370,000 electric vehicles per year.

Rio Tinto Ltd (ASX: RIO)

Rio Tinto is known as an iron ore giant.

However, given its growing investment in the white metal — best characterised by its announced US$6.7B takeover of Arcadium Lithium PLC (ASX: LTM) last year– it is also fair to define it as an ASX lithium share.

The Rio Tinto share price fell 13.42% in 2024, closing at $117.46 per share on 31 December.

Last year, Rio Tinto focused on expanding its lithium and copper operations.

Last month, Rio announced a US$2.5 billion expansion of its Rincon Lithium Project in Argentina.

The company also announced the signing of a term sheet for the Winu copper-gold project joint venture (JV) in Western Australia with Sumitomo Metal Mining Co Ltd.

Atlantic Lithium Ltd (ASX: A11)

Atlantic Lithium shares dropped 16.25% in 2024 to finish the year at 34 cents per share.

In October, Atlantic Lithium and its JV partner Piedmont Lithium Inc (ASX: PLL) received final regulatory approval for Ghana's first lithium mine, called the Ewoyaa Lithium Project.

In the same month, Atlantic Lithium raised US$6.7 million through an equity placement at 23 cents per share. It will use the funds to finalise the Definitive Feasibility Study and make a Final Investment Decision.

Develop Global Ltd (ASX: DVP)

This ASX All Ords lithium share fell by 17.31% in 2024 to close at $2.34 on 31 December.

In latest news, Develop Global says it is on track to achieve first concentrate production and cash flow at the Woodlawn Copper-Zinc Mine in NSW in the June quarter.

Mining teams began moving to the site last month. The first underground ore production is expected to commence in the March quarter.

The post ASX lithium shares: Best 5 of a weak bunch in 2024 appeared first on The Motley Fool Australia.

Talk of electric vehicle (EV) demand expanding and analysts tipping a brighter outlook for lithium prices in 2025 are direct contrasts to this time 12 months ago.

Consequently, analysts at Macquarie have upgraded the firm's outlook on three prominent ASX lithium stocks to buy ratings.

These are Atlantic Lithium Ltd (ASX: A11), Piedmont Lithium Inc (ASX: PLL), and Sayona Mining Ltd (ASX: SYA). Let's take a closer look

Lithium market and EV outlook: What's driving the rebound?

Lithium prices have taken a beating this year, sliding from highs of CNY 116,500 in May to lows of CNY 71,500 in October.

Part of this was driven by a global oversupply and weak demand for EVs.

But, according to Goldman Sachs, the long-term demand for lithium remains intact, driven by the global EV boom. Part of this stems from the lower cost of batteries (note: all dollar figures below in USD):

Global average battery prices declined from $153 per kilowatt-hour (kWh) in 2022 to $149 in 2023, and they're projected by Goldman Sachs Research to fall to $111 by the close of this year.

Our researchers forecast that average battery prices could fall towards $80/kWh by 2026, amounting to a drop of almost 50% from 2023, a level at which battery electric vehicles would achieve ownership cost parity with gasoline-fueled cars in the US on an unsubsidised basis. 

Meanwhile, analysts at UBS expect spodumene prices, a key lithium raw material, to rise 17% in 2025.

Why Macquarie is bullish on these 3 ASX lithium stocks

Macquarie analysts are equally as bullish on the sector, according to The Australian, rating plenty of ASX lithium stocks a buy in a note to clients this week.

The first is Atlantic Lithium. The company's Ewoyaa Lithium Project in Ghana recently secured a Mine Operating Permit.

With this regulatory milestone achieved, construction of the mine and processing plant is one step closer to reality.

Atlantic is partners with Piedmont Lithium in the project.

Speaking of Piedmont, Macquarie rates it a buy as well from today. The company's North American Lithium (NAL) project set new quarterly records for production and mill utilisation in the three months ending September 30.

According to Piedmont CEO Keith Phillips, the company still managed industry-leading price realisations during the quarter despite the industry "remaining challenging".

Macquarie also rated small-cap lithium player Sayona Mining a buy this week.

Just to clarify, Sayona is currently working through a proposed merger with Piedmont Lithium, a point that's impacted the ASX lithium stock this year.

The combined entity, dubbed "MergeCo," aims to establish North America's largest hard rock lithium producer.

Time will tell if it goes through or not.

Foolish takeout

The lithium sector's fortunes in 2025 hinge on a few key factors: stabilising prices, strong EV demand, and tighter supply-side management, in my view.

Macquarie now has buy ratings on Sayona Mining, Piedmont Lithium and Atlantic Lithium as of this week.

The post 3 ASX lithium stocks primed for an electric performance: Macquarie appeared first on The Motley Fool Australia.

And it's not Arcadium Lithium (ASX: LTM), which has been garnering headlines following the $10 billion takeover agreement reached with S&P/ASX 200 Index (ASX: XJO) mining giant Rio Tinto Ltd (ASX: RIO).

Rio Tinto will acquire Arcadium Lithium in an all-cash transaction for US$5.85 (AU$8.71) per share.

Having rocketed 45.7% on Monday amid speculations of a pending takeover offer, Arcadium shares just exited a temporary trading halt and are up 39.1% at $8.22 each.

The other surging ASX lithium stock in question here is Piedmont Lithium Inc (ASX: PLL).

The Piedmont Lithium share price closed yesterday at 18.5 cents. In late morning trade on Thursday, shares are swapping hands for 20.7 each. That puts the Piedmont share price up 11.9% today.

With those gains factored in, the ASX lithium stock is now up 107% in just the past month. Though shares remain down 62% over 12 months.

Here's what looks to be fuelling today's strong run.

ASX lithium stock takes off on permit approval

In a non-price sensitive announcement that nevertheless looks to have stoked interest in the ASX lithium stock, Piedmont Lithium announced that the Minerals Commission of Ghana has issued a Mine Operating Permit for its Ewoyaa Lithium Project.

Ewoyaa is a joint venture project being developed in partnership with Atlantic Lithium Ltd (ASX: A11). The Atlantic Lithium share price is up 13.8% on the news.

The company said that receipt of the permit marked the final regulatory approval required prior to commencing construction of the Ewoyaa Lithium Mine and processing plant. It also represents an important milestone towards reaching a Final Investment Decision (FID).

What did management say?

Commenting on the permit approval that looks to be sending the ASX lithium stock flying higher today, Piedmont COO Patrick Brindle said, "We are very pleased with the issuance on the Mine Operating Permit for the Ewoyaa project."

He added:

We look forward to the future development of the Ewoyaa project in due course, subject to the outcome of the mining lease ratification by the Ghanaian parliament, other ongoing design works, and prevailing market conditions.

Neil Herbert, executive chairman of Atlantic Lithium, said:

Representing the final regulatory approval required by the company before we can commence construction, the issuance of the Mine Operating Permit marks a critical milestone in the permitting process for the Ewoyaa Lithium Project.

With our sights set on achieving first production of lithium in Ghana, we now eagerly await parliamentary ratification of the Ewoyaa Mining Lease. We hope that ratification can occur in the coming sitting, expected to resume on the 15th of this month, which would set us on the path towards construction and operation of this globally significant lithium project.

How are other ASX lithium stocks faring today?

The Rio Tinto takeover agreement with Arcadium at a whopping premium is helping boost most ASX lithium stocks across the board.

As a sample, here's how these miners are tracking today:

• Pilbara Minerals Ltd (ASX: PLS) shares are up 2.3%
• Core Lithium Ltd (ASX: CXO) shares are up 4.3%
• IGO Ltd (ASX: IGO) shares are up 2.0%
• Liontown Resources Ltd (ASX: LTR) shares are up 8.2%
• Sayona Mining Ltd (ASX: SYA) shares are up 9.4%

The post Why this OTHER ASX lithium stock is rocketing higher today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is up almost 3% to 38 cents. This follows the release of drilling results from the company's Ewoyaa Lithium Project in Ghana, West Africa. Multiple high-grade and broad extensional drill intersections were reported at the new Dog-Leg target, Okwesi, Anokyi and Ewoyaa-South 2 deposits outside of the current 35.3Mt Ewoyaa Mineral Resource Estimate.

Johns Lyng Group Ltd (ASX: JLG)

The Johns Lyng share price is up 3% to $6.98. This morning, the integrated building services company announced that it has entered into a partnership with Allstate to join its Emergency Response and Mitigation Panel. It is one of the largest insurance companies in the United States. The contract will give Johns Lyng USA access to a potential 16 million Allstate policy holders throughout the U.S. and covers the provision of emergency response makesafe and water mitigation.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is up 4% to $109.31. This follows the announcement of a new product launch. The health imaging company has launched the groundbreaking Visage Ease VP for Apple (NASDAQ: AAPL) Vision Pro. It supports immersive, spatial experiences for diagnostic imaging and multimedia.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price is up 3% to $76.62. Investors have been buying the logistics software company's shares after it was the subject of a bullish broker note out of Morgan Stanley. The broker has retained its overweight rating and $85.00 price target on its shares ahead of its results release this month.

The post Why Atlantic Lithium, Johns Lyng, Pro Medicus, and WiseTech shares are rising today appeared first on The Motley Fool Australia.

Which ASX mining insiders are buying?

Our first ASX mining insider buy is that of Todd Hannigan, executive chair of titanium developer IperionX Ltd (ASX: IPX).

Hannigan splashed out almost $650,000, buying 465,442 additional IperionX shares on-market between 27 December and 3 January.

In a letter to shareholders on Tuesday, IperionX CEO Anastasios Arima said 2024 would be "a critical inflection point" for the company with the commissioning of its first commercial titanium production facility.

The IperionX share price closed at $1.47, down 2% on Tuesday.

Another ASX mining director buying up new shares is Atlantic Lithium Ltd (ASX: A11) CEO Keith Muller.

He invested $40,000 in 100,000 additional shares purchased on-market on 2 January.

Atlantic Lithium is an African-focused lithium explorer that hopes to deliver Ghana's first lithium mine.

The flagship Ewoyaa Project has a production capacity of 3.6Mt of spodumene concentrate over a 12-year mine life. This makes it one of the world's top 10 spodumene concentrate mines.

Atlantic Lithium was granted a mining lease for Ewoyaa in October 2023.

The Atlantic Lithium share price closed at 40.5 cents, up 1.25% on Tuesday.

Also celebrating the new year with new share buys is ASX mining insider Patrick Murphy. He's a non-executive director of lithium explorer Green Technology Metals Ltd (ASX: GT1).

Murphy ploughed just over $100,000 into the company over three days in late December and early January. He purchased 362,610 shares on-market.

Green Technology Metals undertook a capital raise in December that raised $14.6 million through the issue of 39,477,680 new shares using 'flow-through shares' provisions allowed under Canadian tax law.

The issue price was 37 cents per share. The funds will be used for continued exploration at Root Bay and the maiden drilling program at the Junior Lithium Project.

The Green Technology share price closed at 20 cents yesterday, down 2.44%.

The post 3 ASX mining insiders celebrating the new year with more share buys appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is up 2.5% to 41 cents. This is despite there being no news out of the Africa-focused lithium developer. However, it is worth noting that Macquarie remains positive on the company. This led to the broker reaffirming its outperform rating and 56 cents price target on its shares on Monday.

Charter Hall Group (ASX: CHC)

The Charter Hall share price is up 2.5% to $11.90. This appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has upgraded the property company's shares to an overweight rating with an improved price target of $13.25. It believes the company is a great option for investors while bond yields fall.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 8.5% to 40.2 cents. Investors have been buying this counter drone technology company's shares following the release of its quarterly update. Droneshield reported a record $48 million of customer cash receipts and grants for the December quarter. This is five times larger than the next largest quarter on record. It also revealed a maiden profit for the 12 months.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 8.5% to 53.2 cents. This is despite there being no news out of the buy now pay later provider. Though, it is worth highlighting that its shares have fallen heavily since this time last month, so bargain hunters could be swooping in. Zip's shares remain down 14% on a monthly basis.

The post Why Atlantic Lithium, Charter Hall, Droneshield, and Zip shares are pushing higher appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market's lead today are listed below. Here's why they are dropping:

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is down 9% to 40 cents. This lithium explorer's shares have now fallen 20% since the company raised funds last week. The Africa-based lithium explorer raised $8 million at 44 cents per new share.

KMD Brands Ltd (ASX: KMD)

The KMD Brands share price is down over 11% to 67 cents. This has been driven by the release of the retailer's trading update this morning. The Kathmandu and Rip Curl owner reported a 12.5% decline in sales for the first four months of FY 2024. And while its gross margin improved, this couldn't stop its EBITDA from falling $16 million compared to the same period last year.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren share price is down almost 4% to $23.03. This decline appears to have been driven by profit-taking from some investors following very strong gains this week. For example, even after today's weakness, the Neuren share price is up 35% since this time last week. This has been driven by encouraging phase 2 trial results for its treatment for Phelan-McDermid Syndrome.

PEXA Group Ltd (ASX: PXA)

The PEXA share price is down 10% to $11.12. Investors have been hitting the sell button following the release of an announcement. The property settlements technology company announced the completion of an acquisition and provided guidance for FY 2024. It expects business revenue of $315 million to $325 million and operating EBITDA of $109 million to $115 million. While the latter is ahead of FY 2023's numbers, it remains lower than the $133 million achieved in FY 2022.

The post Why Atlantic Lithium, KMD Brands, Neuren, and PEXA shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is down 9% to 44.5 cents. This morning, this Ghana-focused lithium developer announced a $7 million equity raising at 44 cents per new share. The proceeds will be used to contribute to the funding of the company's flagship Ewoyaa Lithium Project in Ghana and provide additional working capital.

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is down 4.5% to 22 cents. This may have been driven by profit-taking after a very strong gain year to date. The rare earths explorer's shares have risen by over 300% since the start of 2023.

Stockland Corporation Ltd (ASX: SGP)

The Stockland share price is down 3% to $4.38. This morning, this property company announced its estimated distribution for the six months ending 31 December. It advised that it expects to pay an 8 cents per share distribution in February following the release of its results. This is down from 11.8 cents per share a year earlier.

Strickland Metals Ltd (ASX: STK)

The Strickland share price is down 44% to 8.9 cents. This follows the release of an update on drilling at its 100% owned Horse Well prospects at the Yandal Gold Project and Rabbit Well prospect in the Earaheedy Basin. As you might have guessed from its share price performance, the company's drilling results fell well short of the market's expectations.

The post Why Atlantic Lithium, Meteoric Resources, Stockland, and Strickland shares are sinking today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

AMP Ltd (ASX: AMP)

The AMP share price is down 15% to 86.7 cents. Investors have been hitting the sell button today despite the financial services company announcing plans to open a digital bank for small businesses. It seems that the market may not be overly keen on the plan. In addition, management warned that margin pressures were expected to continue.

ANZ Group Holdings Ltd (ASX: ANZ)

The ANZ share price is down over 3% to $24.19. This has been driven by the banking giant's shares going ex-dividend this morning. Eligible shareholders can now look forward to receiving the bank's dividends next month on 22 December. ANZ is paying 94 cents per share to shareholders. This comprises an 81 cents per share ordinary dividend partially franked at 65% and an additional one-off unfranked dividend of 13 cents per share.

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is down 7.5% to 52.2 cents. Investors may be taking profit after a strong gain on Wednesday. That was driven by news that the lithium explorer has rejected a takeover approach from a major shareholder.

Sonic Healthcare Ltd (ASX: SHL)

The Sonic Healthcare share price is down 4% to $29.24. This morning, this healthcare company announced an agreement to acquire US-based Pathology Watch for US$130 million (AU$200 million). It is a pre-profit medical technology business that has developed and commercialised an integrated, end-to-end digital pathology platform for skin pathology.

The post Why AMP, ANZ, Atlantic Lithium, and Sonic shares are dropping today appeared first on The Motley Fool Australia.

The lithium explorer's shares have really caught the eye today after jumping 43% to 55 cents.

Why is the ASX lithium stock surging?

Investors have been buying Atlantic Lithium shares after it became the latest lithium company to receive a takeover offer.

This follows M&A approaches for Allkem Ltd (ASX: AKE), Azure Minerals Ltd (ASX: AZS), and Liontown Resources Ltd (ASX: LTR) this year.

However, Atlantic Lithium is not in the mood to be taken over. At least not that the price being offered.

According to the release, the company has rejected a conditional and non-binding offer from major shareholder Assore International to acquire it for 33 British pence (A$0.63) per share. This represents a 64% premium to its last close price.

The Ghana-focused ASX lithium stock explained why it rejected the offer. It said:

The Atlantic IBC and its advisers gave careful consideration to both the NBIO and Prior NBIO, and determined in each instance that it undervalued Atlantic Lithium and, therefore, was not in the best interests of shareholders, having regard to the near-term producer status of the project, the status of the pending investment from the Minerals Income Investment Fund and the positive near-term outlook for lithium project developers.

The NBIO and Prior NBIO were both subject to a number of conditions before they would become binding, including the Atlantic Lithium board unanimously recommending the offer, providing exclusive due diligence to Assore's satisfaction, Foreign Investment Review Board approval and entry into a definitive and mutually acceptable scheme implementation agreement.

The post This ASX lithium stock is rocketing after receving a takeover offer appeared first on The Motley Fool Australia.

Why are Latin Resources shares halted?

This morning, Latin Resources requested a trading halt so that it could undertake a capital raising of its own.

The request from the Brazil-focused lithium explorer states:

The Company requests the trading halt until the earlier of the Company releasing the announcement, or commencement of trading on Tuesday, 24th October 2023. The Directors of Latin Resources Limited are not aware of any reason why a trading halt should not be granted and there is no other information necessary to inform the market about the trading halt.

It appears that the company wants to lock in funds now for the development of the Salinas Lithium Project just in case any further weakness in the lithium industry drags its shares lower.

Latin Resources shares are down 29% since the start of September despite some encouraging drilling results from the project.

As things stand, it is unclear how much the company is seeking to raise and at what price.

Which other ASX lithium shares are halted?

Joining Latin Resources shares in a trading halt are Atlantic Lithium Ltd (ASX: A11) and Calidus Resources Ltd (ASX: CAI).

Atlantic Lithium has asked for its shares to be offline until Tuesday so that it can prepare "the release of an announcement to the market regarding the permitting of the Ewoyaa Lithium Project."

This appears to be good news for shareholders, thankfully. News reports in Ghana, where the mine is located, claim that the government has signed its first-ever lithium lease agreement with Atlantic Lithium for mining at Ewoyaa.

In respect to Calidus Resources, it has requested a halt until Tuesday "pending the release of an announcement in relation to a significant transaction in relation to Pirra Lithium Pty Ltd."

The post Why are Latin Resources and these ASX lithium shares in trading halts today? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is down 3% to 47 cents. This appears to have been driven by profit-taking after a strong gain yesterday following the release of an update on its Ewoyaa lithium project in Ghana. Atlantic Lithium's shares are still up approximately 14% over the last two sessions despite today's weakness.

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is down 6% to $5.42. Investors have been selling this regional bank's shares after it released its FY 2023 results and revealed earnings well short of expectations. Bank of Queensland reported cash earnings of $450 million, which compares to the consensus estimate of $476 million.

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 15% to 17 cents. This also appears to be due to profit-taking after the meme stock rebounded strongly over the last couple of sessions. Brainchip will be releasing its next quarterly update later this month. Investors will be keen to see if it is still generating less revenue than a café and posting big losses.

Fletcher Building Ltd (ASX: FBU)

The Fletcher Building share price was down over 2% to $4.45 before being placed in a trading halt. Fletcher Building requested the halt as it prepares to deal with the backlash from complaints relating to the Iplex Australia Pro-fit pipe product. A builder, BGC Australia, plans to hold a media briefing with the findings of an independent expert's investigation into the pipes.

The post Why Atlantic Lithium, Bank of Queensland, Brainchip, and Fletcher Building shares are dropping appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is up 15% to 46 cents. This morning, Atlantic Lithium revealed that the Ghana Environmental Protection Agency (EPA) has authorised two transmission lines to be diverted from the Atlantic's planned mining area at the Eqoyaa operation. Management said: "The planned diversion of the transmission lines forms part of the project's mine plan and represents an important step as the company advances Eqoyaa towards shovel readiness."

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 7% to 36.5 cents. This appears to have been triggered by a broker note out of Citi this morning. According to the note, the broker has taken its sell rating off the lithium miner's shares. It has now upgraded them to a neutral rating with a 38 cents price target.

Life360 Inc (ASX: 360)

The Life360 share price is up 6% to $8.69. This afternoon, this location technology company corrected a broker research report. It notes that the report cited monthly active user (MAU) data based on inaccurate information from a third-party provider. The market appears pleased with the true figure, which was revealed to be 58.4 million at 30 September. This represents an 8.1% lift since the end of June. Life360 advised that this increase was underpinned by growth across both its US and international operations.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price is up 5% to $9.16. This follows news that the ACCC has approved the energy giant's takeover by the consortium comprising Brookfield Asset Management and MidOcean Energy. The transaction still remains subject to the Foreign Investment Review Board, among others.

The post Why Atlantic Lithium, Core Lithium, Life360, and Origin shares are racing higher appeared first on The Motley Fool Australia.

While it's a solid day for companies broadly, one little lithium explorer stands out among the best-performing. So, why is Atlantic Lithium Ltd (ASX: A11) getting an outsized boost on the ASX boards on Tuesday?

Let's take a look.

Ticking boxes on Ewoyaa lithium project

At the time of writing, shares in Atlantic Lithium are up a staggering 16% compared to the 0.8% of the broader index.

The only other constituents of the ASX All Ords delivering performances in the same ballpark are Brainchip Holdings Ltd (ASX: BRN), Patriot Battery Metals Inc (ASX: PMT), and a few other lithium miners.

The electric pulse for Atlantic Lithium stems from an announcement this morning pertaining to its Ewoyaa lithium project in Ghana. Pegged to become the country's first lithium mine, Ewoyaa is estimated to hold 35.5 million tonnes of resources at 1.25% lithium oxide.

Today, the company revealed that the Ghana Environmental Protection Agency (EPA) has authorised two transmission lines to be diverted from the Atlantic's planned mining area. The lines are currently strung across the Mankeesim prospecting licence.

As stated by the company, "The planned diversion of the transmission lines forms part of the project's mine plan and represents an important step as the company advances Eqoyaa towards shovel readiness."

Evidently, investors are elated upon discovering another step forward towards kicking off early works on the project. The less time it takes to reach production, the less dilution investors might need to experience.

At the end of June 2023, Atlantic Lithium held $15.3 million in cash. However, nearly $7 million of cash flowed out of the company over the last 12 months.

Why is this ASX All Ords share still lagging?

Today's jump is impressive by all measures. Yet, the company's share price is still 28.5% in the negative compared to a year ago. For context, the ASX All Ords index is 5.3% higher over the past year.

What is causing the discrepancy in performance?

Atlantic Lithium is not the odd one out when weighed up against birds of the same feather. For example, both Pilbara Minerals Ltd (ASX: PLS) and Core Lithium Ltd (ASX: CXO) have suffered over the past year despite their profitability.

There's a good chance the Atlantic Lithium share price has succumbed to the obliterated going rate for the popular battery commodity.

The reality is lithium producers, and future producers, are price-takers. That means the earnings potential of these companies changes in tandem with the underlying commodity.

Unfortunately for Atlantic Lithium, the price of lithium carbonate has crashed almost 70% over the last year.

Given such an extensive revision in potential earnings, it would be hard for any ASX All Ords to fend off a fall.

The post This ASX All Ords lithium share is soaring 16% on approval appeared first on The Motley Fool Australia.

That's according to top broker Macquarie, which has slapped an outperform rating on 16 stocks.

Let's review.

Why buy ASX lithium shares today?

Lithium stocks have fallen over the past year alongside declining lithium prices.

In The Australian this week, Macquarie said today's weaker prices for lithium stocks have created a buying opportunity and now is the time to snap them up for long-term investment.

The broker said:

We believe this is a buying opportunity for investors, especially the ones who look past short-term volatilities, to increase their exposure to a critical mineral at an attractive price level.

Despite a softer market sentiment, we see value in lithium developers underpinned by resource quality and/or favourable jurisdictions.

The short-term market trough creates an opportunity for strategic investors which could unlock value through business consolidation or offtake agreements.

The 16 stocks to buy

Macquarie says its favourite lithium stock today is Pilbara Minerals Ltd (ASX: PLS).

The Pilbara Minerals share price closed on Friday at $4.30, down 5.7% over the past 12 months.

The other 15 lithium stocks earning an outperform rating from Macquarie are as follows:

• Argosy Minerals Limited (ASX: AGY) shares (down 62% in 12 months)
• Core Lithium Ltd (ASX: CXO) shares (down 62% in 12 months)
• Sayona Mining Ltd (ASX: SYA) shares (down 61% in 12 months)
• Galan Lithium Ltd (ASX: GLN) shares (down 45% in 12 months)
• Global Lithium Resources Ltd (ASX: GL1) shares (down 38% in 12 months)
• Piedmont Lithium Inc (ASX: PLL) shares (down 26% in 12 months)
• Atlantic Lithium Ltd (ASX: A11) shares (down 26% in 12 months)
• Allkem Ltd (ASX: AKE) shares (down 15% in 12 months)
• Iluka Resources Limited (ASX: ILU) shares (down 15% in 12 months)
• Leo Lithium Ltd (ASX: LLL) shares (down 10% in 12 months)
• Lynas Rare Earths Ltd (ASX: LYC) shares (down 10% in 12 months)
• IGO Ltd (ASX: IGO) shares (down 8% in 12 months)
• Patriot Battery Metals Inc. CDI (ASX: PMT) shares (down 2% in 12 months)
• Mineral Resources Ltd (ASX: MIN) shares (up 3% in 12 months)
• Meteoric Resources NL (ASX: MEI) shares (up 2,150% in 12 months)

What did the broker say about these ASX shares?

Macquarie says Piedmont Lithium shares have a potential upside of more than 200% from today's price level.

Macquarie says Pilbara Minerals, Allkem, and Mineral Resources offer 100% to 160% upside.

It notes that Allkem offers "unique exposure to both lithium brine in South America and spodumene production in Australia".

Several other brokers also say Allkem shares are a buy right now. The Allkem share price closed on Friday at $11.76, up 2.1% for the day.

Macquarie said Patriot Battery Metals presents "the greatest upside on exploration over the near term", and that Global Lithium Resources "also offers great near-term exploration upside …".

The post Macquarie says these 16 beaten-up ASX lithium shares represent a buying opportunity appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Atlantic Lithium Ltd (ASX: A11)

The Atlantic Lithium share price is up 3.5% to 44 cents. This morning, this lithium developer revealed that it has agreed to non-binding heads of terms with the Minerals Income Investment Fund of Ghana (MIIF). The fund will invest a total of US$32.9 million (A$51.4 million) in the company to support the development of its flagship Ewoyaa Lithium Project. This will give MIIF a 6% contributing interest in the company's Ghana portfolio.

Monadelphous Group Ltd (ASX: MND)

The Monadelphous share price is up 1% to $13.90. This follows news that the engineering company has been awarded a major construction contract at Talison Lithium's Chemical Grade Plant 3 Project. The company revealed that the contract is valued at approximately $160 million. Work will commence on site later this year and is expected to be completed in the first half of 2025.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is up 3.5% to $1.35. This may have been driven by a broker note out of Morgans this week. Its analysts have initiated coverage on the medical device company with an add rating and a $1.88 price target. This implies a potential upside of almost 40% for investors over the next 12 months.

Tietto Minerals Ltd (ASX: TIE)

The Tietto Minerals share price is up 5.5% to 37.5 cents. This morning, the gold miner released a presentation ahead of its appearance at the Africa Down Under Conference. In addition, with its shares crashing deep into the red in recent weeks, some investors may believe they have been oversold and represent good value despite its production downgrade.

The post Why Atlantic Lithium, Monadelphous, Polynovo, and Tietto shares are rising today appeared first on The Motley Fool Australia.