In early trade, the lithium developer's shares were up as much as 16% to $2.79.

The ASX lithium share has pulled back since then but remains up a solid 8% to $2.60.

Why is this ASX lithium share surging?

Investors have been buying this ASX lithium share on Monday due to the release of a positive update.

According to the release, the company has signed a memorandum of understanding (MOU) with Korean conglomerate POSCO Holdings. It is a major lithium producer and cathode active materials supplier.

Under the terms of the MOU, POSCO and Jindalee have agreed to undertake joint research designed to optimise the flowsheet for processing ore from Jindalee's 100% owned McDermitt Lithium Project in the United States.

Jindalee will provide a large composite sample from McDermitt for testing at POSCO's research facility in Korea. This follows the seemingly successful initial analysis of a smaller sample of ore undertaken by POSCO last year.

The testing of the McDermitt ore will investigate three separate metallurgical processes. It is expected to take approximately six months at a cost of approximately $2 million, which will be funded entirely by POSCO.

After which, if everything goes to plan, POSCO and Jindalee will jointly evaluate the commercialisation of the project following completion of the testwork.

Jindalee's chairman, Justin Mannolini, was very pleased with the news. He said:

I am delighted that Jindalee has been able to sign a MOU with POSCO Holdings, a leading Korean company and lithium producer as well as supplier of cathode active materials to major US auto maker General Motors. This arrangement will allow Jindalee to further examine the potential of the McDermitt Lithium Project in Oregon, a very large and strategically important domestic source of lithium for the US battery industry. We look forward to receiving the results from POSCO's testwork as part of our efforts to accelerate development of McDermitt through 2023.

The post Guess which ASX lithium share is rocketing 16% today appeared first on The Motley Fool Australia.

After emerging from a trading halt, Jindalee shares gained 13% in intraday trading before closing at $4.75 each, a 9.2% rise. In comparison, the S&P/ASX 200 Resources Index (ASX: XJR) closed 0.19% lower today.

Let's take a look at what is happening at Jindalee.

US lithium focus

The mineral exploration company will position itself as a pureplay US lithium developer working on the McDermitt Lithium Project in Oregon.

Jindalee will separate its Australian assets and list as NewCo on the ASX.

Eligible Jindalee shareholders will receive a pro-rata distribution of NewCo shares at the record date.

The company said a strategic review of Jindalee's portfolio found separating its Australian assets would maximise value for shareholders.

Jindalee also wants to accelerate exploration and development at the McDermitt Lithium Project, one of the biggest lithium deposits in the US.

Commenting on the news, chairman Justin Mannolini said:

The time is right for Jindalee to reposition itself as a pure-play US lithium developer. The board believes that the favourable political climate in the United States following bipartisan expressions of support for the development of an integrated domestic lithium-ion battery value chain, coupled with the well-known electric vehicle thematic, create the ideal backdrop for the proposed Demerger.

The new company

Newco will focus on exploring nickel, gold, and lithium at projects in Western Australia and Tasmania.

The current Jindalee CEO, Karen Wellman, will lead the NewCo team in the position of managing director.

The company hopes to complete the demerger in the September quarter, subject to approval.

Jindalee share price snapshot

The Jindalee share price has gained 70% in the past year while it has soared 115% year to date.

In the past month, the company's shares have surged 67% although they have fallen 28% in the last week.

For perspective, the ASX 200 Resources Index has returned nearly 17% in the past year.

Jindalee has a market capitalisation of $270 million based on its current share price

The post Jindalee share price rockets 13% on USA lithium demerger news appeared first on The Motley Fool Australia.

Investors have pounced on the Jindalee share price today following a company announcement regarding its 100% owned McDermitt Lithium Project in the US.

Why is the Jindalee share price charging higher?

The company today announced assay results from 6 diamond core drill holes that were completed late in 2021 at McDermitt.

All assays from the 2021 drill program have been received, and according to Jindalee, these latest results include some of the "thickest intercepts of lithium mineralisation" reported at the project to date.

Drilling intercepted mineralisation in each hole, including 73.5m at 1554 parts per million (ppm) lithium (Li) and 60m at 1880ppm, the company said.

As the diamond drill holes intersected a number of higher-grade mineralised zones with greater than 3,000ppm lithium, the scalability of the project is reinforced, the company says.

Jindalee says the new drill data will be used to update the mineral resource estimate due for completion early in the June quarter, per the release.

The release notes that planning for the next phase of drilling this year is well underway and all drill permits are on hand to commence.

"The remainder of the drilling will focus on investigating the untested mineral potential across the western tenure and look for opportunities for higher grade material", it remarked.

Not only that, but Jindalee is also advancing the project through its application for an exploration plan of operations (EPO) in the US.

At present, it is currently nurturing discussions with the Bureau of Land Management (BLM) and the Oregon Department of Geology and Mineral Industries (DOGAMI).

Jindalee share price summary

In the last 12 months, after a wild ride, the Jindalee share price has still managed to climb more than 73% and is up 37% this year to date.

As such, Jindalee is actually in the green across all major timeframes and is leading the benchmark S&P/ASX 200 index (ASX: XJO)'s return so far in 2022.

The post Jindalee (ASX:JRL) share price rockets 18% on 'huge lithium' find appeared first on The Motley Fool Australia.

• The Jindalee Resources share price has risen 22% in 2 days
• The move comes after a successful lithium interception at its United States mine
• A global supply shortage of lithium may be on the horizon

The Jindalee Resources Limited (ASX: JRL) share price is soaring again today on the back of 2 updates released yesterday.

The miner announced a pleasing interception at its US mine and a corporate snapshot of its latest activities.

These announcements coincided with the Jindalee Resources share price shooting up by 16% yesterday. And the gains are continuing today. At the time of writing, the Jindalee Resources share price is up a further 5.15% to $3.06.

Let's take a look underground…

Multiple new near-surface lithium intercepts

Yesterday, the miner announced it had intercepted 6 mineralised zones of lithium (Li) at its McDermitt Lithium Project. The mine is 100% owned by Jindalee and is located in Malheur County on the Oregon-Nevada border.

Jindalee describes McDermitt as a "low cost mining operation" and "one of the largest lithium deposits in the US".

The site hit "six mineralised zones of lithium with a best result of 29.0m of 1,801 ppm Li that included a 12.2m wide zone grading over 2,500 Li".

These results mirror the mineral estimate predicted in April last year.

Jindalee Resources said assays from 6 diamond holes are still pending. The results are expected to follow this quarter.

Growing global demand for lithium

Based on the miner's scoping study in September, the US site has the potential "to support a viable standalone lithium mining and processing operation" and to be a "long-life source of future supply to the rapidly growing US battery manufacturing industry".

Looking forward, the next phase of drilling for the year is ready to go with all permits acquired.

In its corporate report yesterday, Jindalee Resources reported a cash holding of $8.7 million, no debt, and an enterprise value of $129.5 million.

The miner also believes a "significant supply shortage" is on the horizon. This will be driven by rising demand for electric vehicles and by US President Joe Biden's commitment to zero emissions by 2050.

Jindalee Resources share price snapshot

Over the past 12 months, the Jindalee Resources share price has increased by 53%. It saw its highest price of $3.90 in August and its lowest of $1.40 in February last year.

The company has a market capitalisation of $168 million.

The post New lithium discovery sends this ASX mining share soaring 22% in 2 days appeared first on The Motley Fool Australia.

Here are the 5 worst performing ASX shares (with a market capitalisation greater than $300 million) that wound up in the bargain bin last month.

5 worst performing ASX shares in September

1. Jindalee Resources Ltd (ASX: JRL)

The Jindalee Resources share price comes in as one of the worst performing ASX shares last month, tumbling 38% to $2.34.

The company's preliminary scoping study for its McDermitt Lithium Project was a major catalyst behind its sharp declines.

The announcement, released on 16 September, struggled to provide investors with enough tangible metrics to determine the feasibility of its lithium project.

The preliminary scoping study cautioned that it was "based on an indicated and inferred mineral resource … there is a low level of geological confidence associated with inferred mineral resource".

Jindalee shares tumbled 10.95% to $3.01 on the day of the announcement.

2. Marley Spoon AG (ASX: MMM) 

The Marley Spoon share price took a major hit in early September when Woolworths Group Ltd (ASX: WOW) decided to sell its stake in the company.

On 6 September, the supermarket giant offloaded 28,026,000 Chess Depository Interests (CDIs) or 9.87% of the company at $1.91 per CDI.

Marley Spoon shares plunged 10.34% on the day. They finished last month down 30.6% to a 15-month low of $1.47.

3. Fortescue Metals Group Ltd (ASX: FMG)

The Fortescue share price has wound up between underperforming small caps, tumbling 28% in September to a 15-month low of $14.96.

Unlike its peers, BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) that have diversified mining portfolios, Fortescue copped the brunt of the selling as iron ore prices hit as low as US$92 a tonne.

4. BlueBet Holdings Ltd (ASX: BBT)

Sports betting shares like BlueBet, Betmakers Technology Group Ltd (ASX: BET), and PointsBet Holdings Ltd (ASX: PBH) have fallen out of favour in recent months.

The BlueBet share price took a 21% dive on 6 September after the company withdrew its application for a Sports Betting Permit in the US State of Virginia.

The company advised that the decision "follows an exhaustive licence application process comprising 18 applications for only 5 available permits".

The BlueBet share price tumbled 27% in September to a 2-month low of $1.83.

5. Mount Gibson Iron Ltd (ASX: MGX)

Mount Gibson is another iron ore name winding up in September's worst performing ASX shares list.

Iron ore prices reversed so fast that Mount Gibson made the tough call to ramp down and suspend operations at its Shine project.

Mount Gibson said that "given recent significant adverse movements in iron ore prices, product discounting and shipping freight rates, the Company will implement a staged suspension of operations at the Shine mine site to reduce expenditure and preserve the value of the deposit, as well as to provide time to assess the outlook for the iron ore market".

Its shares tumbled 24% in September, close to 2-year lows of 48 cents.

The post These were the 5 worst performing ASX shares in September appeared first on The Motley Fool Australia.

This is despite a sharp 10-20% drawdown across most ASX lithium shares during mid-August as lofty valuations and broader market volatility witnessed sellers take control.

The lithium sector continues to benefit from higher spot prices and the hype around increased electric vehicle adoption. This has helped many prospective explorers and emerging players surge in valuation in a short period of time.

Top performing ASX shares in August

Charger Metals NL (ASX: CHR)

The Charger Metals share price has topped the list as one of the best performing ASX shares in August. Shares in the diversified explorer surged 173% in August from 23 cents to 63 cents.

The company successfully listed on the ASX on 9 July, raising $6 million at an issue price of just 20 cents.

Charger Metals is in its early days, with an interest in the following projects:

• A 70% interest in the Coates nickel-copper-cobalt project
• An 85% interest in Coates North Project
• A 70% interest in the Bynoe lithium and gold project
• A 70% interest in the Lake Johnston lithium and gold project

The capital raised from the initial public offering will be used to fund the company's exploration activities to determine whether or not these projects can be monetised in the future.

Recent announcements from Charger Metals include the commencement of exploration activities at Bynoe and an aerial electromagnetic survey at Coates.

Novonix Ltd (ASX: NVX)

The Novonix share price rallied 75% in August from $2.58 to $4.52.

The company is an emerging battery player, focused on the development of technologies that support longer life batteries, higher efficiency, reduced material usage and reduced waste.

Novonix reported its FY21 results on 26 August, with revenues increasing 22.9% to $5.2 million and a loss before tax of $18 million.

A near-term focus for the company is to produce its own synthetic graphite used in lithium-ion batteries. The company is targeting a capacity of 10,000 tonnes per annum in early 2023 before ramping up production to 40,000 tonnes by 2025 and 150,000 tonnes by 2030.

Jindalee Resources Ltd (ASX: JRL)

Jindalee is another top-performing ASX share in the exploration space. The company owns two prospective US-based lithium projects.

The Jindalee share price added 55% in August to $3.79.

The McDermitt project is Jindalee's flagship project and what the company calls "the largest lithium deposit in the USA".

The company has a busy schedule ahead with plans to continue mining studies and an initial scoping study, obtain a permit for additional drilling and engage with US investors for additional funding.

The post Guess which sector August's top performing ASX shares all came from appeared first on The Motley Fool Australia.

That's partly because some ASX lithium shares have gained almost as much, or even more than Bitcoin has over the past 12 months. And, more importantly, because many leading analysts believe the booming demand for lithium is set to continue for years.

If they're right, that would be welcome news for shareholders of some of Australia's top lithium explorers and producers.

Why is the price for lithium soaring?

The price for lithium carbonate has more than doubled since the end of November 2020.

Demand for lithium is soaring as the global electric vehicle (EV) revolution begins to well and truly gain traction. And, as the name implies, lithium is a core ingredient in the lithium-ion batteries that power most EVs.

And it's certainly not looking like a passing trend.

According to Perennial Value Management portfolio manager Samuel Berridge (quoted by the Australian Financial Review):

We think this has some legs and will be a decade-long phenomenon as we migrate to a cleaner means of generation…

There are going to be blips of euphoria and that's going to happen in any thematic but I think the EV revolution has achieved critical mass. That's the way the market is going. There might be some short-term concerns but longer term, this is a rising tide.

How does Berridge recommend ASX investors capitalise on the trend?

Leading ASX lithium share tipped to ride the EV revolution

As the AFR notes, Berridge says Jindalee Resources Limited (ASX: JRL) offers investors a "good way to invest in the EV theme". The ASX lithium share counts amongst the largest positions in the Perennial Global Resources Trust.

Berridge said, "Jindalee is a lithium developer that's got the largest lithium deposit in the US and in an environment where trade and nationalisation is key, the US is very cognisant of their supply."

Last Friday, 9 April, Jindalee Resource's shares soared more than 55% in intraday trading.

This came after the ASX lithium share updated the market on its mineral resource estimate at its 100% owned McDermitt Lithium Project in the United States. Announcing a big boost in its mineral resource estimate, the lithium producer reported it now holds the largest lithium deposit in the US as measured by contained lithium in Mineral Resource.

Jindalee Resources share price snapshot

Here are some figures for you to back up the hype surrounding ASX lithium shares.

Over the past 12 months, the Jindalee Resources share price has gained a stellar 860%, compared to a 736% gain in the Bitcoin price. (Take that, Bitcoin!) To put that in perspective with the broader share market, over the same time the All Ordinaries Index (ASX: XAO) gained 33%.

Up more than 6% in intraday trading today, Jindalee Resources shares have gained 267% year-to-date.

At the current price of $2.90 per share, the ASX lithium share has a market cap of $146 million.

Trading at a price to earnings ratio (P/E) of 288 times, ASX lithium share investors are clearly pricing in a lot of future growth potential as the EV revolution picks up speed.

The post Why this leading ASX lithium share is tipped to ride the EV revolution appeared first on The Motley Fool Australia.

Lithium prices continue to push higher 

Fastmarkets provides updates and commentary for recent lithium price movements. Its most recent update for the week ended Thursday 1 April highlighted: 

• Lithium prices in China rise on active restocking while supply remains tight;

• Seaborne Asian lithium prices tick up on persisting tight availability;

• European and US prices post further gains on firm prices for technical-grade material.

It noted that lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price range in China rose to 88,000 to 92,000 yuan (A$17,580 to A$18,380) per tonne on 1 April, up from 85,000 to 90,000 yuan (A$16,980 to A$17,980) the prior week. 

Fastmarkets also said the supply for lithium carbonate was more challenging than lithium hydroxide. A consumer was quoted as saying:

In March, producers were not willing to make large sales because supply is quite tight; moving into April, they are increasingly less willing to sell because of the rapid rally of spodumene price.

A trader added:

The overall supply tightness is derived from the squeezed spodumene supply from Australia. Among all, supply tightness for lithium carbonate is most acute.

ASX lithium shares breaking higher 

ASX lithium shares, including Galaxy Resources Ltd (ASX: GXY), Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE), have all managed to push higher into 2-3 month highs after being range-bound throughout February and March. 

At the smaller end of town, explorers have been pushing out a stream of positive results, including: 

• Neometals Ltd (ASX: NMT) up 5% on preliminary metallurgical results
• Core Lithium Ltd (ASX: CXO) announced that it had achieved the production of battery-grade lithium hydroxide monohydrate on Tuesday, and its shares have surged 8.50% higher today 
• Jindalee Resources (ASX: JRL) jumped 35% higher today after a mineral resource estimate 
• Piedmont Lithium Ltd (ASX: PLL) is 6% higher, with an announcement yesterday regarding a lithium resource estimate update 

It seems ASX lithium shares are heating up on both higher prices and an anticipated surge in demand as the world focuses on cleaner technologies and net-zero emissions. 

The post ASX lithium shares are surging across the board. Here's why 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 pushing higher:

Anteotech Ltd (ASX: ADO)

The Anteotech share price has jumped 7% to 25.7 cents. This morning the surface chemicals company announced that it has executed a project participation agreement with the Future Battery Industries CRC for collaboration in the Super Anode Project. According to the release, the Super Anode Project is a four-year project with the aim of developing the materials, processes and cell-level technology to kick-start Australia's battery industry.

EROAD Ltd (ASX: ERD)

The EROAD share price has climbed 5% to $4.61 after announcing a major new contract win. According to the release, the transportation technology services company has signed a five-year agreement with essential services provider Ventia. The deal will see Ventia install approximately 2,500 Ehubo 2 devices in their Australian fleet. This almost doubles the company's current footprint in Australia.

Jindalee Resources Limited (ASX: JRL)

The Jindalee Resources share price is rocketing 27% higher to $2.33. This follows the release of an update on the mineral resource estimate of its 100% owned McDermitt Lithium Project in the United States. According to the release, the updated mineral resource estimate indicates that the company owns the largest lithium deposit in the United States based on contained lithium.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is up almost 5% to $13.15. Investors have been buying Kogan and other tech shares on Friday after a solid night of trade for the Nasdaq index. The tech-focused index rose 1% after bond yields softened in the United States. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is up a decent 0.6%.

The post Why Anteotech, EROAD, Jindalee Resources, & Kogan are pushing higher appeared first on The Motley Fool Australia.

At the time of writing, the lithium developer's shares are up 55% to $2.86.

Why is the Jindalee Resources share price zooming higher?

Investors have been buying Jindalee Resources shares this morning following the release of an announcement after the market close on Thursday.

That release relates to the 100% owned McDermitt Lithium Project in the United States and its mineral resource estimate.

According to the release, the company has updated its mineral resource estimate following the completion of drilling at the end of December.

The company notes that the McDermitt Lithium Project now hosts a combined Indicated and Inferred Mineral Resource Inventory of 1.43 Billion tonnes at 1,320ppm Li for total of 10.1 Million tonnes Lithium Carbonate Equivalent (LCE) at 1,000 ppm Li COG.

Management advised that this makes it the largest lithium deposit in the United States by contained lithium in Mineral Resource, eclipsing Lithium Americas' Thacker Pass deposit (8.3Mt LCE at 2,000ppm Li COG).

It commented: "The results from the 2021 Mineral Resource update and the material uplift in contained lithium reinforces the significance of the McDermitt project as a potential source of future supply to the rapidly growing US battery manufacturing industry. Jindalee intends to continue de-risking the project through further metallurgical studies aimed at the downstream processing flowsheet ahead of a potential Scoping Study in the June quarter of 2021."

What now?

Jindalee Resources advised that it will now finalise its 2021 drill program based on the updated data with the aim of infilling and further upgrading the resource and to define the full extent of the lithium mineralisation at McDermitt.

Applications for drill permitting are expected to be submitted later this month.

The post Why the Jindalee Resources (ASX:JRL) share price is rocketing 55% higher appeared first on The Motley Fool Australia.

The news comes at a good time for the Jindalee share price. It suffered a 2.44% drop yesterday, closing at $1.60.

Let's look further into the mineral exploration company's announcement this morning.

McDermitt Project

The company stated that its McDermitt Project now covers 54.6 square kilometres, after it received confirmation of an additional 271 claims.

Jindalee has previously stated that the McDermitt Project's shallow, flat lying lithium deposits contained in soft rocks suggest mining there will come at a low cost.

Initial test work also found lithium mined at McDermitt has high recoveries from conventional sulphuric acid leaching at low temperature and low atmospheric pressure.

The company has also noted that the US has an increasing demand for lithium but only has one mine in operation, leaving the US to import most of its lithium. Jindalee hopes that it can fill the gap in the US market for locally mined lithium, avoiding tariffs in the process.

As the Project straddles the border of Nevada and Oregon, 88 of the new claims fall in Nevada. Jindalee believes this increases the potential development options at McDermitt.

Jindalee has 100% ownership of the McDermitt Project via its wholly-owned subsidiary. It expects an updated mineral resource estimate in early April.

Jindalee share price snapshot

Today's news may be what the Jindalee share price needs to shift it back into gear. It's shown poor performance over the last month, having dipped by 8.5%.

Although, even after that drop, the Jindalee share price is still up by 102.5% year to date. It's also up by 416% over the last 12 months.

Jindalee has a market capitalisation of around $82 million, with approximately 51 million shares outstanding.

The post Why the Jindalee (ASX:JRL) share price in one to watch today appeared first on The Motley Fool Australia.

After coming out of a trading halt, the company announced more lithium discoveries at one of its sites. The company's shares had been placed in a voluntary suspension on Friday in anticipation of a $9 million capital raising endeavour. 

This follows the Jindalee share price being placed in a trading halt last Wednesday.

At the time of writing, shares in the mineral exploration company have retreated slightly to $1.70, up 11.4%.

What did Jindalee announce?

In today's release, Jindalee gave an update on progress at its McDermitt lithium project in Nevada. The company advised that the site, which is 100% owned by Jindalee, has "significant zones of lithium mineralisation".

In 2 of the 4 drill holes, Jindalee discovered mineral ores that were more than 55 metres thick. In one case, the ore was 70 metres thick. All ores discovered had in excess of 1000 parts per million (ppm) of lithium, well above the 100ppm minimum required for commercially viable ore. 

The miner said the ore was discovered in relatively shallow spots which bodes well as greater mineral abundance can be found deeper in the earth's crust.

The company expects to drill another 6 holes at the site soon. It initially planned to drill the holes last year but the coronavirus pandemic delayed operations.

Jindalee will hire an independent consultant to give a higher mineral resource estimate than provided previously.

In addition, the company will use the planned $9 million in capital to fund an expansion of its McDermitt lithium mine as well as gold and nickel mines in Western Australia. Jindalee will issue 6 million new shares at a price of $1.50 each.

Lithium is fast becoming a valuable commodity

Demand for lithium is booming as the world moves away from fossil fuels and towards renewable energy and battery storage. For example, last year total car sales decreased by 43% but electric car sales increased by 20%. A key element in electric vehicle battery manufacturing is lithium.

The third element's price in the commodity market also rocketed 20.6% in one day to reach US$85,000 a tonne. Over 12 months, its price has gone up by 82.8%.

Jindalee share price snapshot

This time last year, shares in Jindalee were trading at 31.5 cents each. Since then, the share price has accelerated 354.6% to sit at its current price. Many lithium miners share prices are on a similar trajectory.

Jindalee Resources has a market capitalisation of $79.3 million.

The post Why the Jindalee (ASX:JRL) share price is up 11% today appeared first on The Motley Fool Australia.

Some ASX shares, however, have managed to firmly outperform the wider market during this period. Here we take a look at 3 such companies that have experienced significant growth over the last year.

Jindalee Resources Limited (ASX: JRL)

At the close of trade today, Jindalee Resources shares were trading 5.5% lower at $1.37. Over the past twelve months, however, the Jindalee share price is up nearly 400%. Jindalee Resources is an exploration company focused on lithium, gold, iron ore, base and strategic metals, uranium and magnesite.

In a shareholder update provided on 14 January, Jindalee announced positive results pertaining to its McDermitt lithium project. Summarising the highlights, the company stated: "Metallurgical testwork to date has been very encouraging, indicating high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure."

The company also advised it is exploring further options regarding the possible listing of its lithium assets on a North American stock exchange. 

Jindalee currently has two lithium projects in the United States: the McDermitt flagship project in Oregon and the pre-exploration Clayton North project in Nevada.

The company believes that the demand for lithium-ion batteries will increase significantly as the adoption of electric vehicles continues to accelerate.

Openpay Group Ltd (ASX: OPY) 

The Openpay share price gained more than 3% on Friday in contrast to the wider market, which was trending lower. Openpay shares have also increased an impressive 118% over the past twelve months. 

Openpay offers 'no interest' payment services to customers and competes alongside big-name players, such as Zip Co Ltd (ASX: Z1P) and Afterpay Ltd (ASX: APT), in the buy now, pay later (BNPL) industry.

The company refers to itself as "a fast-growing and highly differentiated player in the global 'buy now pay later' payment solutions market." Openpay operates in Australia, New Zealand, the United Kingdowm and, as of December 2020, the US. Openpay even invited investors to watch a video recording of its US launch. The Openpay share price rocketed up by more than 27% on 16 December 2020 when the company broke news of its US expansion. 

Openpay will provide a FY21 second quarter update next Thursday 28 January.

Cluey Ltd (ASX: CLU)

The Cluey share price finished Friday's session up 2.3% and around 8% higher over the past year. Whilst this represents a much more modest gain than the abovementioned shares, Cluey has still managed to decisively outperform the wider market over the same timeframe.

Cluey defines itself as "an Australian education technology company that supports the learning growth of students by bringing together expert educators, cutting-edge technology and proprietary learning data to offer students a range of targeted learning services."

The company posted cash and cash equivalents of around $13 million in its 30 June 2020 annual report. In a January 2021 update, Cluey advised it has forecast a 218% increase in revenue to ~$15.5 million in FY2021.

The post 3 ASX shares that have outperformed over the past year appeared first on The Motley Fool Australia.

ASX lithium shares in the US 

Ioneer Ltd (ASX: INR) 

Ioneer is an exploration company currently focusing on the development of its Rhyolite Ridge lithium-boron project in Nevada. Following its definitive feasibility study, it highlighted well defined and reliable operating cost and capital cost estimates. The project would have an all-in sustaining cash cost of US$2,510 per metric tonne of lithium carbonate placing the project at the very bottom of the global lithium cost curve. 

On 31 August, the company announced that its plan of operations for the Rhyolite Ridge lithium-boron project had been accepted by the Bureau of Land Management. The plan will now undergo an environmental review followed by preparation of an environmental impact statement (EIS). Ioneer is targeting being 'construction ready' in Q2 of 2021. 

Jindalee Resources Limited (ASX: JRL) 

Jindalee Resources holds interest in tenements in the US, Tasmania and Western Australia prospective for lithium, magnesite, gold, diamonds, nickel and iron ore. 

Jindalee owns the McDermitt project in Oregon which could be a source to provide long-life and low-cost lithium to the US electric vehicle battery market. The company's metallurgical test work to date has been very encouraging, indicating high lithium recoveries and the potential to be one of the largest lithium deposits in the US. Moving forward, the company has proposed a drilling program to the Bureau of Land Management for permitting. Drilling is expected to commence in October, subject to final approvals.

Foolish takeaway

The nature of microcap exploration companies is highly risky with many projects never making it to the production phase. In the case of Piedmont Lithium, the company is still undertaking its definitive feasibility study with a recent US market initial public offering (IPO) for additional capital. In its Tesla deal, the start date for spodumene concentrate deliverables is planned to commence between July 2022 and July 2023 based on the development schedules of both parties. There are still many inherent exploration, operational and capital-related risks to overcome between now and the planned start date.

Nonetheless, Ioneer and Jindalee represent two ASX lithium shares that are within close proximity of Tesla with highly prospective lithium projects. 

The post Could these US-based ASX lithium shares land a deal with Tesla (NASDAQ:TSLA)?  appeared first on The Motley Fool Australia.