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

Amplitude Energy Ltd (ASX: AEL)

The Amplitude Energy share price is down 20% to $2.56. Investors have been selling this energy company's shares following the release of disappointing drilling results for the Elanora-1 exploration well. It advised that preliminary drilling and logging data recorded no elevated gas readings in the primary target Waarre A reservoir. As a result, management believes the reservoir is water-bearing. Elanora-1 will now be plugged and a sidetrack into the Isabella prospect will be drilled as planned.

G8 Education Ltd (ASX: GEM)

The G8 Education share price is down 18% to 51.75 cents. This follows the release of a market update from the childcare operator. G8 Education revealed that it plans to make a goodwill impairment of approximately $350 million in its full year financial results. This reflects projected future occupancy based on current occupancy levels, current and expected supply and demand levels, and future fee increases and the impact of cost of living pressures. Making things even worse, the company has decided to pause its on-market share buyback and suspend its dividend.

Pmet Resources (ASX: PMT)

The Pmet Resources share price is down 10% to 58.25 cents. This has been driven by news that the lithium developer is pursuing a C$130 million funding boost. This is expected to be achieved through a flow-through private placement and a public offering. It said: "With this funding, we are well positioned to deliver an updated Feasibility Study optimised for CV5, unlock the value of the world-class caesium discovery we made last year, integrate valuable critical minerals coproducts like caesium and tantalum into our development plan, and continue to unlock value across the broader Property through ongoing exploration."

Steadfast Group Ltd (ASX: SDF)

The Steadfast share price is down 10% to $4.47. Investors have been selling the insurance broker network company's shares amid fears that it could be disrupted by artificial intelligence. This follows news that ChatGPT's owner, OpenAI, has made available an insurance industry app that allows users to browse, research, and compare insurance directly through the platform's new app library. Investors may be concerned that insurance brokers could become redundant in the near future.

The post Why Amplitude Energy, G8 Education, Pmet Resources, and Steadfast shares are sinking today appeared first on The Motley Fool Australia.

Shares in the market's largest pure-play lithium producer, PLS Group Ltd (ASX: PLS) lifted 1.2% to a new 52-week high of $4.89 today.

The IGO Ltd (ASX: IGO) share price rose 2.1% to a 52-week high of $8.95.

Liontown Resources Ltd (ASX: LTR) shares lifted 3.5% to a 52-week high of $2.10.

The Core Lithium Ltd (ASX: CXO) share price rocketed 24% to a two-year high of 36 cents.

Lake Resources NL (ASX: LKE) shares rose 14.3% to a 52-week high of 16 cents.

Elevra Lithium Ltd (ASX: ELV) shares increased 1.9% to a 52-week high of $9.

Galan Lithium Ltd (ASX: GLN) shares rose 5.5% to a 52-week high of 38 cents.

The Delta Lithium Ltd (ASX: DLI) share price lifted 8.5% to a 52-week high of 25.5 cents.

Wildcat Resources Ltd (ASX: WC8) shares rose 10.3% to a 52-week high of 43 cents.

Pmet Resources CDI (ASX: PMT) shares rose 11.3% to a 52-week high of 69 cents.

The Winsome Resources Ltd (ASX: WR1) share price lifted 9.8% to a 52-week high of 56 cents.

Midas Minerals Ltd (ASX: MM1) shares rose 10% to a 52-week high of 66 cents.

Lithium prices have been steadily lifting since mid-2025 and leapt higher overnight.

Let's find out why.

Why are lithium prices rising again?

Trading Economics analysts say lithium prices are on the mend due to higher demand and lower supply worldwide.

The lithium carbonate price rose 3.75% overnight to a 19-month high of US$19,793 per tonne.

The Spodumene Concentrate Index (CIF China) Price lifted 1.69% to US$1,800 per tonne.

The Battery-Grade Lithium Hydroxide price rose 3.6% to US$16,213.76 per tonne.

There is greater demand globally for batteries and power infrastructure amid the green energy transition.

Additionally, sales of electric vehicles (EVs) in China are rising, with EVs outselling traditional cars for the first time last October.

Trading Economics reports that 'new energy vehicles' in China rose 20.6% annually to a record of 1.823 million units in November.

China has pledged to double EV charging capacity to 180 gigawatts by 2027.

Amid higher demand for lithium, China is also seeking to stabilise lithium prices by implementing measures to avoid over-capacity.

Analysts at Trading Economics said:

The Bureau of Natural Resources of Yichun, which includes the lithium mining hub in the Chinese Jiangxi province, stated it would cancel 27 mining permits early next year.

The move was consistent with the earlier suspension of activity in CATL's Jianxiawo lithium mine as the Chinese government aims to reduce capacity in many goods industries to prevent the ongoing race-to-the-bottom that has stirred deflationary pressures.

The post 12 ASX lithium shares rip to 52-week highs 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.

Meantime, the S&P/ASX 200 Index (ASX: XJO) is falling heavily, down 1.38% to a four-month low of 8,516.9 points.

Lithium prices are on the rise, with the carbonate price reaching its highest level in 14 months overnight.

Here is what's happening with ASX lithium shares today.

ASX lithium shares up while ASX 200 falls heavily

The Pilbara Minerals Ltd (ASX: PLS) share price rose 5.6% to a new 52-week high of $4.18 this morning.

Lithium and nickel producer IGO Ltd (ASX: IGO) ripped 8.2% to a 52-week peak of $7.35 per share.

The Liontown Resources Ltd (ASX: LTR) share price lifted 7.5% to a 52-week high of $1.57.

Core Lithium Ltd (ASX: CXO) shares are up 4.3% to a 52-week peak of 24 cents.

The Lake Resources NL (ASX: LKE) share price lifted 12.5% to a 52-week high of 6.3 cents.

Galan Lithium Ltd (ASX: GLN) shares are up 10% to a 52-week high of 22 cents.

Elevra Lithium (ASX: ELV) shares rose 10.8% to a 52-week high of $5.86.

Diversified miner Mineral Resources Ltd (ASX: MIN) rose 5.4% to $51.25, not far off the 52-week high of $52.69 it set last week.

Where to next for lithium prices?

ASX lithium shares are rising as demand for lithium to power batteries and new infrastructure increases, and China provides new support to its electric vehicle industry amid higher sales in 2025.

The Spodumene Concentrate Index (CIF China) Price rose 1.79% to US$1,024 per tonne overnight, up more than 20% over the past month.

The Battery-Grade Lithium Hydroxide price rose 1.05% to US$9,606.73, up 5.8% over the past month.

The lithium carbonate price is US$12,120.57 per tonne, up 16.4% over the past month and now at its highest level in 14 months.

Macquarie is bullish on lithium prices and asserts that a new price cycle is underway.

In a new note, the broker says:

Our constructive lithium view has been confirmed; however major lithium equity names are outpacing underlying Li prices.

We see opportunities for spot spodumene price to attain US $1,200-1,300/t early next year, with hurdles for further increases.

We believe CATL restart newsflow presents near-term downside, promoting profit taking; however this may be a longer-term buy-the-dip opportunity.

CATL's Jiangxi mine, which produces 3% of the global lithium supply, is set to recommence production following a brief suspension.

Macquarie has an outperform rating on three ASX lithium shares: IGO, Elevra Lithium, and Pmet Resources CDI (ASX: PMT).

The broker warns that Pilbara Minerals and Mineral Resources shares are trading at above-market implied lithium prices today.

The post ASX lithium shares outperform as ASX 200 tumbles to four-month low 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.

Prices for the critical battery mineral fell 17% over the first six months of the year and indeed had suffered "an almost uninterrupted 24-month slide since mid-calendar year 2023", Macquarie said.

But there are now some green shoots.

"We are observing signposts that could indicate the beginning of another lithium cycle, driven by a growing mismatch between supply and demand,'' Macquarie analysts said.

They also said they believed the market's reaction to the sooner-than-expected restart of major Chinese mine CATL Jianxiawo "may have been overdone".

In addition, we also note several near-term supply challenges in the lithium market, including resource audits for the remaining seven lepidolite mines in Jiangxi, civil unrest and ongoing political tensions in Mali and permitting challenges in Brazil. In the near term, EV (electric vehicle) penetration rates remain strong at 12% in the US, 55% in China, and 31% in Europe as of August.

Local stocks in favour

In terms of Australian lithium producers, Macquarie analysts have an outperform rating on IGO Ltd (ASX: IGO), Pilbara Minerals Ltd (ASX: PLS), Sayona Mining Ltd (ASX: SYA), and PMET Resources (ASX: PMT).

Macquarie has increased its price target for IGO from $5 to $5.50, compared with the current price of $4.91.

The price target for Pilbara Minerals has been upped from $2.20 to $2.30, equal to the current share price.

For Sayona Mining, Macquarie's price target has been lowered from $6 to $5.50, compared with $3.29 currently.

The price target for PMET Resources has been increased from 36 cents to 50 cents, compared with 46.5 cents currently.

Lithium demand to remain strong

Macquarie analysts say in their note to clients that commodity prices are the main risk factor for most of these miners, but they also argue that medium-term demand forces are underappreciated.

They say two factors are not being fully priced in by the market, with BESS (battery energy storage systems) and heavy haul truck demand not being adequately accounted for.

If battery energy storage systems continue their current growth trajectory, lithium consumption could rise substantially, establishing a higher demand base for CY26 and beyond. We believe that the market consensus may not yet fully account for the potential upside in lithium consumption stemming from stronger BESS demand.

And on the truck front, while passenger EVs were currently the biggest driver of demand, accounting for 69% of lithium consumption in CY25, "recent channel checks with industry participants highlight heavy haul truck electrification as an emerging growth area''.

The post Macquarie names its top ASX lithium stock picks 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 falling:

Amcor (ASX: AMC)

The Amcor share price is down 10% to $13.57. Investors have been selling the packaging company's shares following the release of its fourth quarter update. Amcor posted a 43% jump in net sales to US$5,082 million. This was thanks to the completion of the Berry Global acquisition at the end of April. And while its EBITDA was also up 43% to US$789 million, this fell comfortably short of the consensus estimate of US$836 million.

Centuria Office REIT (ASX: COF)

The Centuria Office share price is down 3% to $1.26. This office property company's shares are falling after it released its full year results for FY 2025 and reported a 14.5% decline in funds from operations to $70.4 million. This led to the company cutting its dividend by a similar margin from 12 cents per share to 10.1 cents per share. Management is guiding to another decline in funds from operations for FY 2026.

Patriot Battery Metals Inc. (ASX: PMT)

The Patriot Battery Metals share price is down 1% to 46.5 cents. This morning, this lithium explorer released its quarterly update. While it has made plenty of progress with its exploration, it continues to burn through its cash and reported a loss of $1.7 million for the period even after recording $4.2 million of flow-through premium income.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is down almost 14% to $16.69. The catalyst for this has been the completion of an institutional placement by the niobium company. WA1 Resources revealed that it has received firm commitments to raise $100 million at an issue price of $17 per new share. This follows strong support from new and existing institutional investors across the Americas and Australia. Funds raised will be applied toward pre-development and permitting activities for the Luni Niobium Project, as well as planned capital expenditure relating to supporting infrastructure. Managing Director, Paul Savich, commented: "The Luni Niobium Project is clearly an exceptional asset and this was again reflected in the strong demand recevied for the Placement from existing shareholders and new institutional investors across the world."

The post Why Amcor, Centuria Office, Patriot Battery Metals, and WA1 Resources shares are falling today appeared first on The Motley Fool Australia.

The broker's stock picks come after 22 ASX mining companies presented at last week's Macquarie Conference in Sydney.

Let's take a look at some key mining themes that emerged at the conference and which stocks Macquarie tips for growth.

10 ASX mining stocks set for growth: broker

Future-proofing in the gold sector

In a new note, Macquarie said ASX gold miners were looking to future-proof their businesses amid a recent record high gold price.

The broker commented:

The gold sector, fresh from record highs, is flush with cash.

Some appear to be preparing for a lower pricing environment by investing in capex and mine development to expand margins, extend life and grow whilst the market can support it.

Macquarie mentioned Vault Minerals Ltd (ASX: VAU), which presented at the conference and discussed its optionality of a Stage 2 expansion of the KOTH plant funded by its strong balance sheet.

Macquarie has an outperform rating on Vault Minerals shares with a 12-month price target of 60 cents.

The Vault Minerals share price is currently 42 cents, down 5.6%.

Other ASX gold mining stocks that scored an outperform rating from Macquarie were Newmont Corporation (ASX: NEM) with a price target of $94 and Bellevue Gold Ltd (ASX: BGL) with a target of $1.20.

Newmont shares are currently $78.41, down 3%, while Bellevue Gold shares are 88 cents, down 8.4%.

Eye to growth in base metals

The broker described a mixed outlook for base metals and noted Indonesia's recent dominance in China-backed nickel production.

The broker's top ASX nickel stock picks include Nickel Industries Ltd (ASX: NIC) with a price target of 80 cents.

The Nickel Industries share price is currently 64 cents, up 0.8%.

Macquarie also likes ASX copper mining stock Capstone Copper Corp CDI (ASX: CSC) with a 12-month price target of $11.60.

Capstone Copper shares are currently $8.20, up 3.1%.

Macquarie also likes Chalice Mining Ltd (ASX: CHN), which produces nickel, copper, cobalt, and platinum group elements (PGE).

The broker has a 12-month price target of $1.60 on Chalice shares. The stock is trading at $1.13, down 1.1% on Tuesday.

Shift in focus for ASX lithium mining stocks

Macquarie said lithium miners were shifting focus from growth to productivity and optimisation to drive future returns.

The broker's top ASX lithium mining stock picks are IGO Ltd (ASX: IGO) with a target of $5.50, Pilbara Minerals Ltd (ASX: PLS) with a target of $2.40, and Patriot Battery Metals Inc. (ASX: PMT) with a target of 52 cents.

The IGO share price is currently $4.42, up 1.4%. Pilbara Minerals shares are up 4.8% to $1.62. Patriot shares are 25 cents, up 2%.

The broker commented:

… PLS is looking to fixed-cost dilution beyond its 850ktpa nameplate.

IGO is blessed with a tier-one asset, but is looking at systematic planning, value optimisation to get more out of its fixed capital base.

PMT keeps ticking its permitting steps.

Rare earths becoming critical

The broker noted that rare earths have become a key part of trade tensions between the US and China.

Macquarie said: "Even despite the volatility this brings to supply chains, a long run constructive demand outlook exists".

Among ASX rare earths mining stocks, Macquarie has an outperform rating on Iluka Resources Ltd (ASX: ILU) shares.

The broker's 12-month share price target is $6.50.

Iluka shares are trading at $4.18, up 0.7% on Tuesday. The broker's forecast implies a potential 55% upside from here.

Iluka mines mineral sands, including zircon and rutile, and rare earth-bearing minerals, monazite and xenotime.

The company is building a rare earths refinery at its Eneabba mine in Western Australia.

The post Broker names 10 ASX mining stocks set to outperform following Macquarie Conference appeared first on The Motley Fool Australia.

Bell Potter appears to see this as a buying opportunity for patient investors, highlighting a number of shares which it believes have significant upside potential.

But which ASX lithium shares are buys? Let's take a look at three that the broker rates highly:

Liontown Resources Ltd (ASX: LTR)

The first ASX lithium share that Bell Potter remains positive on is Liontown Resources.

It continues to believe that the Kathleen Valley lithium project is highly strategic and appears to see the company as being seriously undervalued at current levels. It said:

LTR's 100% owned Kathleen Valley lithium project remains highly strategic in terms of scale, long project life and location in a tier-one mining jurisdiction. LTR has offtake contracts with top-tier EV and battery OEMs. Under our modelled assumptions, we expect that LTR is fully funded to free cash flow. LTR is an asset development company; our Speculative risk rating recognises this higher level of risk.

Bell Potter has a speculative buy rating and 90 cents price target on the lithium miner's shares.

Patriot Battery Metals Inc (ASX: PMT)

A second ASX lithium share that could be a buy according to the broker is Patriot Battery Metals.

Bell Potter likes the company's Shaakichiuwaanaan Project and believes it is well-placed to supply lithium to the North American market in the coming years. It said:

The Shaakichiuwaanaan Project is highly strategic in terms of scale, jurisdiction and access to North American lithium-ion battery supply chains. PMT is funded to take the Project to full feasibility by the end of 2025. While permitting risks may be an impediment to PMT's near-term corporate appeal, we expect value re-rating as the Project is de-risked through permitting and as the Group's MRE continues to expand. PMT is an asset development company with prospective operations and cash flows.

The broker has a speculative buy rating and 40 cents price target on its shares.

Pilbara Minerals Ltd (ASX: PLS)

Finally, Bell Potter thinks that lithium giant Pilbara Minerals could be a top ASX lithium share to buy while it's down in the dumps.

Particularly given its low costs and world class Pilgangoora operation. It said:

PLS operates a low-cost asset in a tier one jurisdiction, is diversifying through the lithium value chain, and provides a clean exposure to global lithium fundamentals and sentiment. While we expect lithium prices to remain volatile, we hold a robust EV-demand driven long-term market outlook and believe higher prices are required to incentivise new sources of supply.

The broker has a buy rating and $2.00 price target on its shares.

The post 3 top ASX lithium shares to buy after the market selloff appeared first on The Motley Fool Australia.

That's a pleasing overall market return in anyone's language.

But for some stockpickers, it was a hard year.

Investors in the following five ASX All Ordinaries shares endured a teeth-gritting 12 months in 2024.

5 ASX All Ordinaries shares that plunged in value in 2024

Here are the five ASX All Ordinaries companies whose share prices declined the most in 2024.

1. Liontown Resources Ltd (ASX: LTR)

ASX All Ordinaries lithium share Liontown was the worst performer of the year in terms of price change.

The Liontown share price fell 67.88% to close at 53 cents on 31 December.

Operationally, last year was a momentous one for Liontown Resources.

In July, it officially transitioned from developer to producer with the first production of spodumene concentrate at its flagship Kathleen Valley Lithium Project in July.

But like all lithium miners, Liontown was negatively impacted by weak commodity prices last year.

2. Patriot Battery Metals Inc. CDI (ASX: PMT)

Patriot is the second lithium share comprising the five biggest losers of the ASX All Ordinaries in 2024.

The Patriot Battery Metals share price fell 63.72% in 2024 to close out the year at 41 cents.

Investors were dismayed when nothing came of discussions with US lithium giant Albemarle Corp (NYSE: ALB) last year. The companies ceased talks in May after spending nine months assessing partnership opportunities for a downstream lithium hydroxide plant for Patriot's Corvette Lithium Project in Canada.

3. Imugene Ltd (ASX: IMU)

ASX All Ordinaries healthcare share Imugene lost 63.64% in 2024 to close out the year at 4 cents.

Some investors feel concerned about Imugene's financial position. The Imugene share price fell 20% on 31 October when the cancer immunotherapy company released its September quarter cash flow report.

The report revealed a significant cash burn that reduced Imugene's cash reserves from about $93 million to $54 million. That left the ASX biotech will only 2.3 more quarters of funding.

4. Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price crashed 63.46% in 2024 to finish at 19 cents on 31 December.

The casino and resorts operator reported a $1.68 billion statutory loss for FY24. Star faced ongoing regulatory scrutiny last year, including a second inquiry into its suitability as a casino licence holder.

5. Wildcat Resources Ltd (ASX: WC8) 

Finally, we have a third ASX All Ordinaries lithium share making up the bottom five stocks of the index.

The Wildcat Resources share price tumbled 60% to finish the year at 28 cents.

Regulatory scrutiny, weak commodity prices, and general market volatility impacted the mineral explorer.

In November, Wildcat refuted a news report of raids by the Australian Securities and Investments Commission (ASIC). However, it confirmed that ASIC had previously issued notices requesting documents.

On a brighter note, check out the 5 biggest risers among ASX All Ordinaries shares in 2024.

The post 5 worst ASX All Ordinaries shares of 2024 appeared first on The Motley Fool Australia.

That's the view of analysts at Bell Potter, which are recommending the lithium developer to investors with a high tolerance for risk.

Which ASX lithium stock?

The lithium stock in question is Patriot Battery Metals Inc. (ASX: PMT), which is the owner of Corvette Property in Canada.

Bell Potter notes that Volkswagen Group has just agreed to invest C$69 million to acquire a 9.9% stake in the lithium developer. This was undertaken at C$4.42 per share, which is the equivalent to A$0.49 per share. This represents a significant premium to the prevailing share price of 38.5 cents.

In addition, the auto giant's battery manufacturing subsidiary, PowerCo, has committed to a binding offtake agreement for the supply of 100,000 tonnes per annum of 5.5% Li2O spodumene concentrate.

According to the note, the broker was pleased with the news and feels it provides a funding runway through to 2026. It said:

At 30 September 2024, PMT had cash of C$70m, up to half of which relates to the May 2024 C$75m flow-through offering and therefore must be spent before the end of 2025. DFS and key permitting applications are due for submission in the September 2025 quarter enabling exploration activity and cash burn to moderate.

The VW placement should therefore provide PMT a funding runway into 2026. VW's commitment provides strong validation of the Project and the hard-rock lithium supplyside more broadly. It also highlights VW's commitment to the North American EV market and to establishing a western-facing battery materials supply chain.

Big return potential

In response to the news, the broker has retained its speculative buy rating on the ASX lithium stock with a trimmed price target of 70 cents (from 75 cents).

Based on its current share price of 38.5 cents, this implies potential upside of approximately 95% over the next 12 months.

Commenting on its bullish recommendation, Bell Potter said:

The Shaakichiuwaanaan Project is highly strategic in terms of scale, jurisdiction and access to North American lithium-ion battery supply chains. PMT is funded to take the Project to full feasibility by the end of 2025. While permitting risks may be an impediment to PMT's near-term corporate appeal, we expect value re-rating as the Project is de-risked through permitting and as the Group's MRE continues to expand. PMT is an asset development company with prospective operations and cash flows. Our Speculative risk rating recognises this higher level of risk and volatility of returns.

The post Bell Potter says this ASX lithium stock could rocket 90%+ in 2025 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:

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price is up 2% to $5.76. Investors have been buying the iron ore miner's shares after it announced a partnership with Nippon Steel and Sojitz Corporation. According to the release, the three companies will team up to develop the Kamistiatusset Project. Champion's CEO, David Cataford, said: "We are excited to partner with global industry leaders, who share our long-term vision for Kami to produce high-purity iron ore, which was recently recognized as a critical mineral by the Newfoundland and Labrador, Québec and Canadian federal governments."

EBR Systems Inc (ASX: EBR)

The EBR Systems share price is up 3% to 88.5 cents. This morning, this medical device company announced that its manufacturing Pre-Approval Inspection (PAI) with the U.S. Food and Drug Administration (FDA) has been scheduled for the week commencing 6 January 2025. It notes that the key purpose of the PAI is to confirm EBR's manufacturing, processing, and packing procedures comply with quality system regulations, and that EBR's facility can consistently produce devices that meet the approved specifications.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up 40% to $2.78. This follows news that the US FDA has approved its Ryoncil (remestemcel-L) product as the first mesenchymal stromal cell (MSC) therapy in the United States. Management notes that Ryoncil is the only MSC therapy approved in the U.S. for any indication. It is also the only approved therapy for steroid-refractory acute graft versus host disease (SR-aGvHD) in children 2 months and older, including adolescents and teenagers. It is a life-threatening condition with high mortality rates.

Patriot Battery Metals Inc. (ASX: PMT)

The Patriot Battery Metals share price is up over 17% to 37 cents. After the market close on Wednesday, this lithium developer announced that it has entered into a subscription agreement with Germany's largest car manufacturer, Volkswagen. The auto giant is investing C$69 million at a premium to take a 9.9% stake in the company. It has also signed a major 10-year offtake agreement for its PowerCo business. This will see Patriot supply 100,000 tonnes of spodumene concentrate (SC 5.5 target) per year over the term.

The post Why Champion Iron, EBR Systems, Mesoblast, and Patriot Battery Metals shares are surging today appeared first on The Motley Fool Australia.

In morning trade, the ASX 300 lithium stock has burst out of the gates and rocketed 20% to 38 cents.

Why is this ASX 300 lithium stock rocketing?

Investors have been scrambling to buy the company's shares this morning after responding very positively to the release of an announcement after the market close on Wednesday.

According to the release, the lithium developer has entered into a subscription agreement with Germany's largest car manufacturer, Volkswagen.

This will see the company issue and sell approximately 15.5 million shares to Volkswagen at a price of C$4.42 per share for aggregate gross proceeds of approximately C$69 million.

The release notes that the subscription price that has been agreed represents a 65% and 35% premium to the 30-day and 90-day volume weighted average trading price of its TSX listed shares.

Upon closing, Volkswagen will own approximately 9.9% of the ASX 300 lithium stock's issued and outstanding common shares on a pro forma non-diluted basis.

What else?

Patriot Lithium also revealed that it will enter into a binding offtake term sheet with Volkswagen's wholly-owned and vertically integrated battery manufacturer, PowerCo. This will see Patriot supply 100,000 tonnes of spodumene concentrate (SC 5.5 target) per year over a 10-year term.

This offtake is expected to supply PowerCo's cell production activities in Europe and North America. This includes its battery cell factory in St. Thomas, Canada.

It notes that St. Thomas is intended to become PowerCo's largest cell factory with a production capacity of up to 90 GWh. This is enough to produce over one million electric vehicles a year.

Commenting on the investment and offtake agreement, the ASX 300 lithium stock's CEO and managing director, Ken Brinsden, said:

We welcome Volkswagen and PowerCo as our strategic partner. This is a pivotal milestone for Patriot as we bring in a long-term strategic partner who is already a major participant in the European and North American battery supply chain as the first customer of the globally significant Shaakichiuwaanaan Project.

This investment is consistent with our long-term strategy for Patriot to become a global lithium leader and a key supplier of lithium raw materials to the emerging North American and European battery materials supply chains.

Volkswagen Group board member for Technology, Thomas Schmall, adds:

This investment represents a significant milestone in our journey toward a fully electric future. By collaborating with Patriot Battery Metals, we are not only securing key raw materials for cutting-edge sustainable battery technology but also reinforcing our commitment to North America.

The post Guess which ASX 300 lithium stock is rocketing 20% on huge Volkswagen news appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) is the leading market sector today, up 3.34%. Meanwhile, the benchmark S&P/ASX 200 Index (ASX: XJO) is down 0.42%.

According to the Australian Financial Review (AFR), Morgan Stanley economist Robin Xing said yesterday's Politburo meeting in China "sent the most aggressive stimulus tone in a decade".

The Politburo, which meets once per month, said it would introduce measures to boost domestic consumption and stabilise the property market and Chinese share market.

This comes ahead of the important Central Economic Work Conference, which begins on Wednesday. At the conference, new year priorities will be set, including China's 2025 target for economic growth.

ASX mining shares in the green on Tuesday

ASX iron ore shares are well into the green today, with BHP Group Ltd (ASX: BHP) shares up 3.92% to $42.18 and Fortescue Ltd (ASX: FMG) shares up 6.68% to $20.54.

Rio Tinto Ltd (ASX: RIO) shares are up 4.97% to $125.43, while iron ore and lithium miner Mineral Resources Ltd (ASX: MIN) has lifted 6.23% to $36.32.

In overnight trading, there was a 2.15% lift in the CNY iron ore price to US$111.35 per tonne. The 62% iron ore price fell 2.05% to US$104.11 per tonne.

ASX gold shares are also rising today. The gold price is currently trading at US$2,659.16, up 0.99%. Yesterday, gold hit new record levels at around US$2,675 per tonne.

In today's trading:

• The Northern Star Resources Ltd (ASX: NST) share price is up 2.12% to $16.86
• The Newmont Corporation CDI (ASX: NEM) share price is up 1.62% to $65.09
• The Evolution Mining Ltd (ASX: EVN) share price is up 3.37% to $5.21

Analysts at Trading Economics explained that the gold price was rising due to its safe-haven appeal amid renewed geopolitical tensions in the Middle East, as well as China resuming gold purchases.

ASX copper shares are in the green following a 1.56% bump in the copper price to US$4.20 per pound.

• Sandfire Resources Ltd (ASX: SFR) shares are up 3.66% to $10.49
• Red Metal Ltd (ASX: RDM) shares are up 4.55% to 12 cents
• Firefly Metals Ltd (ASX: FFM) shares are up 12.03% to $1.13

What about ASX lithium shares?

ASX lithium shares are also responding to the news from China, given it is the world's top producer of electric vehicles.

• Pilbara Minerals Ltd (ASX: PLS) shares are up 7.67% to $2.32
• IGO Ltd (ASX: IGO) shares are up 4.64% to $5.19
• Liontown Resources Ltd (ASX: LTR) shares are up 3.28% to 63 cents
• Latin Resources Ltd (ASX: LRS) shares are up 10.34% to 16 cents
• Sayona Mining Ltd (ASX: SYA) shares are up 3.45% to 3 cents
• Syrah Resources Ltd (ASX: SYR) shares are up 4.17% to 25 cents
• Vulcan Energy Resources Ltd (ASX: VUL) shares are up 4.88% to $6.45
• Patriot Battery Metals Inc (ASX: PMT) shares are up 6.35% to 34 cents

Overnight, there was a 0.42% lift in the lithium hydroxide price to US$9,489.70 per tonne and a 0.52% decline in the lithium carbonate price to US$10,536.46 per tonne.

The post Why are ASX mining shares going gangbusters today? appeared first on The Motley Fool Australia.

That ASX lithium share is Patriot Battery Metals Inc. CDI (ASX: PMT), which is at 48 cents today, up 3.23%.

Patriot Battery Metals owns the Corvette lithium spodumene project in the James Bay Region of Northern Quebec. Patriot describes James Bay as a top-tier mining jurisdiction.

Its 100% owned Corvette project incorporates 214 claims spanning a 21,715-hectare parcel of land with approximately 50 km of prospective lithium pegmatite trend along the La Grande Greenstone Belt.

Broker Shaw and Partners recently initiated coverage of this ASX lithium share with a buy recommendation. But what's really interesting is the broker's 12-month share price target.

Shaw and Partners reckons Patriot Metals shares will be worth about $1.80 apiece by this time next year.

Let's find out why.

Broker says ASX lithium share about to go gangbusters

In an article published on Listcorp, Shaw and Partners says the Corvette Project is "ideally positioned and timed to feed the burgeoning North American battery supply chain by the end of the decade". 

The broker said that based on its modelling, Patriot Metals was pricing in a 6% spodumene price of US$1,050 per tonne into perpetuity.

This is below the broker's own long-term price forecast of US$1,487 per tonne.

Shaw and Partners said:

On our forecasts and lithium price deck every US$100/t increase in 6% Spodumene lifts our valuation by 30%. The valuation sensitivity demonstrates the extreme leverage currently on offer in PMT to higher lithium prices over the medium and long-term.

The broker acknowledges the challenge of significantly lower lithium prices today.

However, Shaw and Partners sees tailwinds for this ASX lithium share in the long term.

The broker added:

… we continue to forecast robust demand driven by the energy transition and increasingly, resource nationalism as pressure builds on western EV and battery makers to diversify supply chains for all battery metals, including lithium, away from China. 

The broker said the United States will increase tariffs on lithium-ion batteries and battery parts from 7.5% to 25%, which will make the cost of imported Chinese cells higher than locally-produced cells.

The US imports a lot of Chinese batteries, but hardly any EVs, so the tariffs are largely pre-emptive. But the signal itself is important.

The US is doubling down on building out its own clean energy industries and showing it is willing to tie hundreds of billions in domestic subsidies with overt protectionism to do it, even with the Democrats still in office. 

Corvette has an inferred mineral resource estimate of 109.2 Mt at 1.42%.

This makes it the largest lithium pegmatite in the Americas and the eighth largest globally, with significant exploration potential remaining, the broker said.

What's happening with ASX lithium stocks today?

The S&P/ASX 200 Index (ASX: XJO) is in recovery mode today following yesterday's trouncing. The ASX 200 is currently 0.9% higher, with mining the leading market sector.

At the time of writing, the S&P/ASX 200 Materials Index (ASX: XMJ) is up 1.75%.

The larger and more well-known ASX lithium shares are all significantly stronger, too.

Here are some examples:

• Core Lithium Ltd (ASX: CXO) shares are up 5.49% to 9.6 cents apiece
• Pilbara Minerals Ltd (ASX: PLS) shares are up 5.32% to $3.02 apiece
• Liontown Resources Ltd (ASX: LTR) shares are up 4.04% to 95 cents apiece
• Arcadium Lithium CDI Def (ASX: LTM) shares are up 3.5% to $5.18 apiece
• IGO Ltd (ASX: IGO) shares are up 3.24% to $5.74 apiece

As we reported yesterday, Pilbara Minerals CEO Dale Henderson thinks lithium prices may have reached a floor, given signs of falling supply as higher-cost producers exit the market. With commodity prices this low, he expects funding for new lithium projects to dry up, thereby reducing competition in the medium term.

The post Why this ASX lithium share could rocket 275% in a year: broker appeared first on The Motley Fool Australia.

Most lithium producers and explorers rocketed higher in 2022 and into 2023 as the price of the battery critical metal they dig from the ground hit all-time highs.

But with demand growth slowing and supply growth ramping up, that trend reversed resulting in an 85% collapse in global lithium prices from those record prices.

While prices have somewhat stabilised in 2023, many of the ASX lithium shares with higher costs have found themselves operating at a loss. Some have gone so far as to suspend production, awaiting the return of better market prices.

As for the risk of investing in the lithium miners in the past year, here's how these top-name stocks have performed over 12 months:

• Pilbara Minerals Ltd (ASX: PLS) shares are down 40%
• Core Lithium Ltd (ASX: CXO) shares are down 87%
• IGO Ltd (ASX: IGO) shares are down 61%
• Liontown Resources Ltd (ASX: LTR) shares are down 66%
• Sayona Mining Ltd (ASX: SYA) shares are down 82%
• Lake Resources (ASX: LKE) shares are down 87%
• Latin Resources Ltd (ASX: LRS) are down 51%
• Patriot Battery Metals Inc (ASX: PMT) are down 67%
• Mineral Resources Ltd (ASX: MIN) are down 20%

I think those figures speak to the formidable risks on investing in ASX lithium shares.

At least for the year just past.

But what about the year ahead?

Are ASX lithium shares still very risky?

To be clear, every investment comes with its own unique risks.

As for the particular risk of investing in ASX lithium shares, we'll defer to Blackwattle Investment Partners.

Here's what the fund managers reported on Blackwattle's own investments and outlook for the Aussie lithium miners.

In June, the Blackwattle Small Cap Quality Fund lost ground on its Latin Resources and Patriot Battery Metals holdings. Blackwattle noted that the lithium commodity price continued to follow a volatile trading pattern over the month.

As for those risks, the fund manager added:

Perversely, when considering investments in the resources sector, the risk is the lowest when commodity prices are falling toward the lower end of the cost curve for mining companies with tier-one assets.

At current spodumene lithium prices, few hard rock miners are generating much free cash flow today. As such, we continue to maintain modestly sized holdings in the lithium sector. In our view projects with superior economics like Latin Resources and Patriot Metals are well placed to ride out near-term volatility in the lithium price.

Noting that it will take some time for the supply and demand dynamics in lithium markets to balance, Blackwattle said, "At current prices, new projects, such as Pilbara Minerals' P2000, don't stack up."

However, the fund managers are more optimistic about the outlook of Arcadium Lithium (ASX: LTM) after the ASX lithium share plunged 26% in June.

Arcadium, as you may know, started trading on the ASX in December, formed from the merger of the previously ASX-listed Allkem and US-listed Livent.

According to Blackwattle:

The merger has created a quality, vertically integrated global lithium chemicals producer with a significant synergy opportunity & production growth upside.

We see significant upside for LTM outside any moves from the lithium price, as the new business looks to maximise the merger potential through synergies, driving cost & capex reductions as well as improved pricing.

We view a potential rebound in lithium prices at some point as option value.

Foolish takeaway

So, is investing in ASX lithium shares right now risky?

You bet.

But could buying some of the beaten-down, low-cost producers also pay off handsomely over the longer run?

I certainly think it could.

Just don't invest more than you're prepared to lose.

The post How risky is buying ASX lithium shares right now? appeared first on The Motley Fool Australia.

The electrifying commodity lithium has experienced an unceremonious price collapse. From its peak in November 2022, the price of lithium carbonate is down roughly 85%, bringing it back in line with prices witnessed in 2021 — a change undoubtedly challenging the economic viability of many recent lithium developments.

Booms and busts are common among commodities. However, the companies involved need to survive if investors are to benefit from lithium prices rising again.

So, how financially insulated are some of the most popular lithium names?

Financial fitness of ASX lithium shares

There is no better position than being a company with positive free cash flows during distressing times — that is, more cash coming in than going out. Realistically, such companies can benefit from weak conditions by making strategic acquisitions while competitors struggle.

Conversely, hard times are the enemy if a company is short on cash and has low cash flows. It can pay to understand which businesses are financially sound and which are possibly limping along.

The table below briefly summarises the financial standing of several popular ASX lithium shares.

Western Australian mining giant Mineral Resources may look to be in a precarious financial position based on the above. As of 31 December 2023, the iron ore and lithium miner showed a highly indebted balance sheet and negative free cash flows, producing a forecast cash runway of 11 months.

Since then, Mineral Resources has taken action by ceasing operations at its Yilgarn Hub and selling 49% interest in its Onslow Iron project for $1.3 billion. Core Lithium took a similar course of action in January, suspending mining at its Finnis mine to conserve capital.

In comparison, Pilbara Minerals and IGO are still cash flow positive with little or no debt. This may suggest these two ASX lithium shares are better placed to weather extended weakness. However, it's worth noting that even these miners are experiencing declines in their free cash flows.

This year, companies like Liontown Resources, Vulcan Energy Resources, and Patriot Battery Metals have turned to debt and equity markets to shore up their balance sheets. In doing so, they have likely extended their cash runways beyond the figures above.

Is the worst yet to come?

If we can roughly estimate how long a company can sustain itself, the next question to consider is how long the tough times will last.

Unfortunately, none of us are fortune tellers. Nevertheless, analysts have crunched the numbers to obtain a best guess, and the general consensus is bleak.

Analysts from Citi, UBS, and Wood Mackenzie all expect lower lithium prices to come. For example, Wood Mackenzie thinks spodumene could hit rock bottom at around US$1,000 per tonne and stay suppressed until 2028.

If true, even ASX lithium shares with the most fortified financials may face pressure.

However, if the International Energy Agency's estimates are accurate, the ones that survive could flourish. According to its Global Critical Minerals Outlook 2024 report, a lithium supply deficit is expected by 2030 as demand for electric vehicles takes hold, as shown above.

The post Which ASX lithium shares are financially primed to survive this rut? appeared first on The Motley Fool Australia.

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

Calix Ltd (ASX: CXL)

The Calix share price is up over 12% to $1.44. This morning, this environmental technology company released an update on the progress of its Direct Air Capture (DAC) projects in partnership with DAC company, Heirloom. Under an exclusive technology licence agreement, Calix's subsidiary Leilac Limited will provide its electric calcination and carbon capture technology to two Heirloom DAC facilities that are capable of removing up to ~320,000 tons of carbon dioxide from the atmosphere per year.

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is up almost 7% to $9.95. This follows the release of the KFC restaurant operator's FY 2024 results. Collins Foods reported a 10.4% increase in revenue from continuing operations to $1,488.9 million and a 15.6% jump in underlying net profit after tax from continuing operations to $60 million. Not even management's downbeat outlook commentary has held back the company's shares. Collins Foods' interim CEO and managing director, Kevin Perkins, warned: "Significant cost-of-living and inflationary pressures are expected to remain for much of the year ahead, impacting sales growth and we expect margin pressure across the Group."

Myer Holdings Ltd (ASX: MYR)

The Myer share price is up a further 5% to 81.5 cents. Investors have been buying the department store operator's shares this week in response to news that it is aiming to merge with the apparel brands of Premier Investments Limited (ASX: PMV). This comprises the Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti brands. The combination would see the department store acquire Premier's apparel brands business in exchange for the issue of new Myer shares. Premier Investments' chair, Solomon Lew, would be prepared to take an active role as a non-executive director of Myer if the merger proceeds.

Patriot Battery Metals Inc. (ASX: PMT)

The Patriot Battery Metals share price is up 6% to 58.5 cents. This morning, this lithium developer announced the final batch of core assay results from the CV5 Spodumene Pegmatite from its recently completed 2024 winter drill program at Corvette Property in Canada. Management notes that "these final holes from our winter program at CV5 continue to impress and demonstrate the scale of mineralization over a significant strike length."

The post Why Calix, Collins Foods, Myer, and Patriot Battery Metals shares are charging higher appeared first on The Motley Fool Australia.

Four ASX shares that are acting as a drag on the market today are listed below. Here's why they are falling:

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price is down 14% to $10.51. This follows the release of an update at the auto retailer's annual general meeting on Wednesday. The company said: "Given the current market and business dynamics, and with a cautious lens on consumer sentiment, we expect to achieve an underlying trading performance for the first half of 2024 that is approximately 85% of the underlying profit before tax for the first half of 2023."

Inghams Group Ltd (ASX: ING)

The Inghams share price is down almost 14% to $3.29. Investors have been rushing to the exits today amid reports that bird flu was detected at a farm in Victoria. According to the ABC, this is the first time in four years that bird flu has appeared in Australia and has sparked concerns of a global outbreak. Given how quickly it can spread, investors appear to be fearing that Inghams could soon be impacted. This would likely be very disruptive to poultry sales and supplies.

Patriot Battery Metals Inc. (ASX: PMT)

The Patriot Battery Metals share price is down 9% to 90.2 cents. This morning, this lithium developer announced a C$75 million capital raising. Patriot decided to raise funds in response to the current advantageous flow through financing conditions in Canada. The placement received strong demand from existing and new institutional, professional and sophisticated investors. Existing substantial investors also maintained their pro-rata in the placement, which included committing to a four month hold on new securities. Proceeds from the flow through capital raise will be used exclusively on exploration at the Corvette Lithium Project.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat Resources share price is down 6.5% to 49.5 cents. This is despite the lithium explorer announcing drilling results on Wednesday. Wildcat announced high-grade lithium results from its Luke Pegmatite discovery. It believes this highlights the growing potential of the Tabba Tabba Lithium Project, near Port Hedland, in the Pilbara region of Western Australia. Managing Director, AJ Saverimutto said: "These latest broad mineralised zones at the Luke Pegmatite are exceptional. We are very excited, as the new results confirm the discovery has broad, high-grade zones sitting directly beneath our Leia Pegmatite body. Luke has potential to have a significant positive impact on the overall system." Some investors may have been expecting even stronger results.

The post Why Eagers Automotive, Inghams, Patriot Battery Metals, and Wildcat shares are sinking appeared first on The Motley Fool Australia.

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

AIC Mines Ltd (ASX: A1M)

The AIC Mines share price is up 4.5% to 56 cents. This follows news that the mining lease for the Jericho Copper Mine has been approved for grant by the Minister for Resources and Critical Minerals Queensland. This allows for surface works at Jericho to commence within a maximum 10ha area and mine development activity to take place with a maximum of 20 people employed on site. Development of the Jericho mine and the expansion of the Eloise processing plant will lift production to over 20,000tpa copper and 7,500ozpa gold.

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The Bendigo and Adelaide Bank share price is up over 7% to $10.67. This follows the release of a trading update from the regional bank. Management advised that its unaudited cash earnings (after tax) year-to-date is approximately $464 million. This is down 2.3% on the prior corresponding period. CEO, Marnie Baker, said: "The margin considerations we outlined in February have helped support a year-to-date margin of 1.87% post revenue share. We look forward to showcasing our growth engines at our Investor Day on 23 May 2024."

Patriot Battery Metals Inc. (ASX: PMT)

The Patriot Battery Metals share price is up a further 11% to 97.5 cents. Investors have been buying this lithium developer's shares since the release of a new batch of core assay results on Thursday. Those results were for drill holes completed this year at the CV5 spodumene pegmatite at its Corvette Lithium Project in Canada. The company's vice president of exploration, Darren L. Smith, said: "Another round of CV5 core assays from our infill program and it continues to deliver to expectations. Coupled with the new high grade discovery at CV13, the 2024 winter program's results continue to demonstrate the quality and scale on show at Corvette."

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is up almost 14% to $5.41. This morning, this lithium developer announced the formal launch of the second and final phase of its Project-level debt and equity funding package. Phase one of the Finance Process is now complete, with the company receiving significant interest from strategic and financial investors, commercial banks, the European Investment Bank (EIB), and major government-backed export credit agencies.

The post Why AIC Mines, Bendigo and Adelaide Bank, Patriot Battery Metals, and Vulcan Energy are racing higher today appeared first on The Motley Fool Australia.