High Voltage: Lithium rebound could be on the cards and these North American players are getting ready

A lithium supply deficit could see an aggressive move in pricing as soon as 2026. We look at North American players who could benefit.

Price agency Fastmarkets thinks there’ll be a 1500t lithium deficit in 2026. Pic: Getty Images

• Analysts predict lithium supply deficit next year will see aggressive turnaround in price

• PLS CEO says pricing will move upwards, but the question is when

• These North American developers could be poised to catch the upswing

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

Analysts from Fastmarkets and Argonaut are predicting a possible lithium supply deficit much sooner than others have anticipated.

Argonaut’s head of research Hayden Bairstow is among the voices tipping an earlier return to balance in the oversupplied lithium market, saying the risk of a big run up in spodumene concentrate prices next year was emerging.

“It’s actually largely demand related. I think that you’re seeing EV sales running at 20% growth all of the last year,” he told Stockhead’s Josh Chiat earlier this month.

“They’ve popped back up to ~35% for the first two months on average, so there’s a stronger EV sales growth rate already.

“Battery storage is just growing in importance. It was up 60% last year, it’s still running at 40% this year, albeit off a much higher base.

“When you’ve got those sort of demand numbers running, it won’t be long before a) the market swings from surplus to deficit, but b) then gets into a panic again, and you’ll see an aggressive move in pricing.”

Argonaut is not alone in seeing the lithium supply-demand nexus shift back into balance around the end of 2025.

Price agency Fastmarkets thinks a 154,000t LCE surplus in 2024 will swing to a 10,000t surplus this year and 1500t deficit in 2026.

If that happens, a supply shock could leave lithium prices susceptible to a volatile price spike.

Pilbara Minerals (ASX:PLS) managing director and CEO Dale Henderson said in the company’s results call on Thursday that it’s reasonable to assume pricing will move upwards, but the big question is when.

“Historically, the lithium market has tended to respond rapidly and catch the market by surprise,” he said.

Despite producing less spodumene in the March quarter (due to the Ngungaju plant being on care and maintenance and the impact of tropical cyclone Zelia) the company reported a 7% increase in prices to approximately US$747/t (CIF China) on a ~SC5.3 basis with sales of ~125,500t.

And on the demand side, Henderson remains bullish, pointing to EV sales which have started the year very strongly, with sales for March up an estimated 29% year-on-year – along with strong demand for battery storage.

“Forecasts indicate demand is expected to grow by 89% between now and the end of the decade, a compelling signal of the sector’s underlying strength,” Henderson said.

These North American developers could be ready to run

The future recovery of the lithium market is set to throw the spotlight on new and emerging markets as supply runs short of future demand.

One of those is in North America, where the fall in lithium prices a couple of years ago halted momentum in Canada becoming a major supplier.

But the next cycle could usher in the full arrival of the country's lithium sector. And these companies which have worked tirelessly through the downturn could be in line to enjoy the fruits of their labour.

Lithium Universe (ASX:LU7)

In Feb, the company revealed the results on its definitive feasibility study for the proposed Bécancour lithium carbonate refinery in Quebec, Canada, which reflected a cautious price forecast of US$1170 per tonne (AUD$1840) for spodumene concentrate and $20,970/t for battery-grade lithium carbonate equivalent.

That's not that far above current, suppressed, lithium prices.

At full production capacity, the project is expected to generate $383m in annual revenue with costs totalling ~$236m leading to an annual EBITDA of ~$148m and a gross margin of 39%.

The capital cost for the project, which boasts an annual capacity of up to 18,270t, is estimated at $549m with the latest update including a zero liquid discharge system to enable the recycling and reuse of all process water on site.

A full-rate payback period of 3.9 years has also been estimated along with a post-tax NPV at an 8% discount of US$449m (AUD$706.9m), IRR of 21% and expected revenue of $383m.

Lithium Universe said the project’s economics demonstrate the viability of a strong lithium conversion refinery, even within a below-average pricing environment.

The project is now proceeding to the funding stage, with encouraging discussions taking place with various banks and debt providers.

Green Technology Metals (ASX:GT1)

Also in Canada, the company’s Root project is shaping up as another key player, with an optimised Preliminary Economic Assessment (PEA) highlighting stronger economics despite recent market dynamics.

Given fluctuating price predictions and volatile market analysis, the company looked at several different forecasts to assess an average price over the production period – settling on an average annual spodumene concentrate price of US $1977/t FOB Thunder Bay for a 5.5% Li2O spodumene concentrate (SC5.5) product.

In addition, GT1 evaluated Root as a standalone project for this PEA as opposed to the December 2023 PEA which combined the Root project with the Seymour project and considered the recently updated resource of 20.1Mt at 1.24% Li2O.

The study updated pit optimisations for the Root, Root Bay and McCombe deposits to US$400-2000, below the US$2500/t pit shells in the 2023 PEA.

Open pit and underground development options were considered for Root Bay and McCombe to reduce waste movements and mining costs, whilst preserving opportunities for future growth.

The company also increased mining and processing inventories adding eight months to the operational life of the project.

The next steps will be advancing permitting in parallel with a pre-feasibility study. A definitive feasibility study is slated to follow in 2026.

Jindalee Lithium (ASX:JLL)

The company’s McDermitt project is neighbours with the Thacker Pass lithium mine, also in Nevada, which reached a final investment decision (FID) for the first phase of construction in recent weeks.

It is a joint venture between Lithium Americas Corporation and US automaker General Motors and is set to exploit a large lithium resource to produce battery grade lithium carbonate, becoming the largest US producer by an order of magnitude when Phase 1 is completed in late 2027.

ioneer (ASX:INR)

INR owns the Rhyolite Ridge lithium-boron project in Nevada and secured approval from the US Bureau of Land Management on the Final Environmental Impact Statement (EIS) last year, marking the final hurdle in the federal permitting process.

In a record-setting deal for an Australian company, ioneer received a $US996m ($1.6b) 20-year loan from the US Department of Energy to develop an on-site processing facility at the project.

The company lifted resources at the asset by 45% in March to 510Mt containing 3.97Mt of lithium carbonate equivalent and 14.66Mt of boric acid equivalent, which will be the first new lithium mine in the US in almost 60 years and the first new boron mine in almost 100.

Ioneer copped a hit however, when its proposed partner Sibanye-Stillwater decided not to proceed with a JV and project equity funding agreement.

American explorers also well placed for price upswing

On the exploration side, Chariot Corporation (ASX:CC9) has stakes in both hard rock and clay-hosted lithium assets in Wyoming, Nevada and Oregon.

The company is focused on its Black Mountain mine, exploring for a large-scale resource and testing the viability of a pilot mine.

The pilot’s proposed modular plant design would reduce upfront costs, offer flexibility to scale up rapidly, and provide short-term cash flow.

A second phase RC drilling program kicked off back in November with the objective of defining a small-scale lithium resource that may support the establishment of the pilot mine.

There’s also Anson Resources (ASX:ASN) with its Paradox Basin lithium asset, situated on 2,34 federal placer mineral claims which recently received approval from the USA Department of the Interior, Bureau of Land Management to begin western expansion resource drilling.

The company plans to enter the Mineral Canyon Fed 1-3 and Sunburst 1 wells to expand its current 1Mt lithium carbonate equivalent (LCE) resource.

Meanwhile, work is progressing at the DLE Green River pilot plant in Utah, 50km from Paradox, which reached a >99% average rejection rate of impurities including sodium, calcium, magnesium and potassium.

Rejecting more than 99% of impurities paves the way for a higher purity lithium carbonate product for use in electric vehicle batteries, which translates to low purification costs.

Battery Metals Winners and Losers

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

Code	Company	Price	% Week	% Month	% Six Month	% Year	Market Cap
XTC	XTC Lithium Limited	0.2	19900%	19900%	19900%	19900%	$17,528,272
SRL	Sunrise	0.71	163%	209%	97%	-3%	$64,061,524
ASM	Ausstratmaterials	0.635	81%	72%	3%	-56%	$115,151,333
REE	Rarex Limited	0.036	80%	300%	177%	125%	$28,830,450
MEI	Meteoric Resources	0.11	72%	55%	16%	-51%	$257,054,906
MTM	MTM Critical Metals	0.23	70%	64%	132%	379%	$105,495,923
ENV	Enova Mining Limited	0.008	60%	0%	0%	-53%	$11,308,006
AR3	Austrare	0.115	60%	52%	-19%	-10%	$18,283,819
AUZ	Australian Mines Ltd	0.011	57%	22%	22%	-8%	$15,383,633
NTU	Northern Min Ltd	0.037	54%	95%	85%	9%	$309,214,765
WMG	Western Mines	0.175	52%	82%	-20%	-45%	$15,811,835
LRV	Larvottoresources	0.905	52%	8%	141%	928%	$372,162,365
EMN	Euromanganese	0.31	51%	72%	29%	-28%	$12,707,404
PSC	Prospect Res Ltd	0.15	50%	43%	67%	7%	$85,899,447
SGQ	St George Min Ltd	0.025	47%	25%	-7%	39%	$66,695,561
WCN	White Cliff Min Ltd	0.019	46%	19%	-17%	19%	$36,013,944
ARN	Aldoro Resources	0.52	44%	63%	632%	550%	$92,254,336
M24	Mamba Exploration	0.013	44%	8%	8%	-52%	$3,837,153
ETM	Energy Transition	0.075	42%	-9%	226%	92%	$116,265,651
TKM	Trek Metals Ltd	0.065	41%	141%	117%	41%	$33,911,986
PEK	Peak Rare Earths Ltd	0.14	40%	33%	-24%	-33%	$49,293,176
AKN	Auking Mining Ltd	0.007	40%	17%	40%	-63%	$4,023,451
NWM	Norwest Minerals	0.014	40%	17%	-22%	-73%	$6,791,673
PEK	Peak Rare Earths Ltd	0.14	40%	33%	-24%	-33%	$49,293,176
WIN	WIN Metals	0.018	38%	-10%	-61%	-57%	$9,901,046
NVA	Nova Minerals Ltd	0.335	37%	14%	68%	14%	$108,103,635
DRE	Dreadnought Resources Ltd	0.015	36%	7%	-17%	-17%	$70,047,500
PBL	Parabellumresources	0.05	35%	28%	0%	-7%	$3,115,000
COB	Cobalt Blue Ltd	0.07	35%	1%	-20%	-50%	$30,763,131
FLG	Flagship Min Ltd	0.059	34%	34%	-6%	-63%	$12,012,059
SLZ	Sultan Resources Ltd	0.008	33%	14%	33%	-27%	$1,851,759
AX8	Accelerate Resources	0.008	33%	14%	0%	-80%	$6,297,510
KGD	Kula Gold Limited	0.008	33%	100%	21%	-6%	$7,370,029
CRR	Critical Resources	0.004	33%	0%	-43%	-67%	$9,856,885
EUR	European Lithium Ltd	0.053	33%	13%	43%	-16%	$76,594,618
ESR	Estrella Res Ltd	0.029	32%	4%	107%	427%	$59,506,169
TOR	Torque Met	0.097	31%	-2%	24%	-31%	$26,157,401
IPX	Iperionx Limited	2.82	29%	-11%	-18%	33%	$900,034,048
RXL	Rox Resources	0.42	29%	25%	211%	111%	$255,837,055
IXR	Ionic Rare Earths	0.009	29%	29%	-10%	-50%	$47,145,855
WC8	Wildcat Resources	0.18	29%	-3%	-52%	-64%	$242,022,319
ASO	Aston Minerals Ltd	0.018	29%	0%	80%	50%	$23,311,157
SRI	Sipa Resources Ltd	0.014	27%	17%	-13%	-30%	$5,829,577
EV1	Evolutionenergy	0.014	27%	-13%	-71%	-82%	$5,077,107
CHN	Chalice Mining Ltd	1.045	26%	-24%	-36%	-20%	$406,532,993
DVP	Develop Global Ltd	2.59	26%	-12%	5%	26%	$706,150,237
BC8	Black Cat Syndicate	1.03	26%	26%	84%	296%	$710,263,011
VRC	Volt Resources Ltd	0.005	25%	11%	0%	0%	$23,423,890
IPT	Impact Minerals	0.005	25%	-29%	-56%	-71%	$18,513,316
MQR	Marquee Resource Ltd	0.01	25%	-9%	-38%	-33%	$4,854,805
BYH	Bryah Resources Ltd	0.005	25%	0%	25%	-50%	$4,349,768
CTN	Catalina Resources	0.0025	25%	-33%	-33%	-33%	$4,159,399
LNR	Lanthanein Resources	0.0025	25%	0%	-17%	-38%	$6,109,090
LNR	Lanthanein Resources	0.0025	25%	0%	-17%	-38%	$6,109,090
ARU	Arafura Rare Earths	0.19	23%	15%	12%	3%	$468,222,451
INR	Ioneer Ltd	0.14	22%	-13%	-40%	-32%	$329,794,152
GBR	Greatbould Resources	0.09	22%	25%	80%	36%	$68,429,557
PMT	Patriotbatterymetals	0.235	21%	-22%	-46%	-69%	$130,330,086
LLI	Loyal Lithium Ltd	0.074	19%	-13%	-41%	-75%	$7,454,247
SUM	Summitminerals	0.05	19%	-21%	-73%	-44%	$4,356,399
NIC	Nickel Industries	0.505	19%	-23%	-47%	-42%	$2,191,667,617
CAE	Cannindah Resources	0.057	19%	-21%	24%	6%	$41,500,557
NH3	Nh3Cleanenergyltd	0.026	18%	30%	18%	37%	$14,679,724
HAS	Hastings Tech Met	0.325	18%	3%	12%	-12%	$61,381,494
CTM	Centaurus Metals Ltd	0.39	18%	3%	-21%	3%	$193,713,473
SYR	Syrah Resources	0.23	18%	-18%	-16%	-51%	$239,716,307
SYR	Syrah Resources	0.23	18%	-18%	-16%	-51%	$239,716,307
MEK	Meeka Metals Limited	0.165	18%	14%	162%	371%	$414,936,666
MAN	Mandrake Res Ltd	0.02	18%	5%	-26%	-41%	$12,545,198
WR1	Winsome Resources	0.2	18%	-26%	-63%	-84%	$48,778,690
CNB	Carnaby Resource Ltd	0.27	17%	-13%	-24%	-52%	$61,664,992
ARL	Ardea Resources Ltd	0.44	17%	10%	0%	-41%	$87,860,483
NVX	Novonix Limited	0.38	17%	-16%	-53%	-61%	$241,701,157
RNU	Renascor Res Ltd	0.056	17%	27%	-28%	-33%	$142,414,469
BNR	Bulletin Res Ltd	0.063	17%	50%	50%	19%	$18,497,639
ODE	Odessa Minerals Ltd	0.007	17%	17%	40%	40%	$11,196,728
REC	Rechargemetals	0.014	17%	-7%	-60%	-68%	$3,590,860
FRB	Firebird Metals	0.092	16%	0%	-16%	-32%	$13,097,249
RAG	Ragnar Metals Ltd	0.022	16%	22%	5%	16%	$10,427,692
ASL	Andean Silver	0.965	16%	-13%	-16%	117%	$153,216,674
MIN	Mineral Resources.	16.61	15%	-24%	-66%	-76%	$3,264,174,012
FRS	Forrestaniaresources	0.039	15%	44%	225%	117%	$10,235,724
PLL	Piedmont Lithium Inc	0.096	14%	-17%	-53%	-56%	$59,698,349
MRR	Minrex Resources Ltd	0.008	14%	14%	-6%	-38%	$8,678,940
GSM	Golden State Mining	0.008	14%	-11%	-20%	-27%	$2,234,965
SRZ	Stellar Resources	0.016	14%	-6%	-11%	-20%	$33,276,009
TLG	Talga Group Ltd	0.445	14%	2%	24%	-41%	$191,274,387
DYM	Dynamicmetalslimited	0.33	14%	-11%	65%	83%	$16,197,832
STK	Strickland Metals	0.091	14%	1%	21%	-24%	$200,874,742
MHK	Metalhawk.	0.415	14%	-1%	144%	538%	$50,357,164
ILU	Iluka Resources	3.57	14%	-13%	-44%	-50%	$1,533,893,529
SYA	Sayona Mining Ltd	0.017	13%	-15%	-53%	-51%	$196,236,032
AM7	Arcadia Minerals	0.017	13%	-15%	-53%	-83%	$1,995,518
ARR	American Rare Earths	0.305	13%	11%	7%	9%	$154,764,106
AQD	Ausquest Limited	0.053	13%	26%	563%	398%	$71,412,526
LML	Lincoln Minerals	0.0045	13%	-10%	-25%	-44%	$9,253,168
G88	Golden Mile Res Ltd	0.009	13%	0%	-31%	-31%	$4,898,231
RR1	Reach Resources Ltd	0.009	13%	13%	-18%	-10%	$7,869,882
OCN	Oceanalithiumlimited	0.027	13%	13%	-24%	-42%	$3,712,402
TAR	Taruga Minerals	0.009	13%	0%	-18%	29%	$6,354,241
RR1	Reach Resources Ltd	0.009	13%	13%	-18%	-10%	$7,869,882
KTA	Krakatoa Resources	0.009	13%	13%	-10%	-31%	$5,581,206
1AE	Auroraenergymetals	0.045	13%	5%	15%	-52%	$8,057,868
MHC	Manhattan Corp Ltd	0.018	13%	0%	-55%	-46%	$4,228,180
PAT	Patriot Lithium	0.057	12%	36%	10%	-43%	$7,205,824
CY5	Cygnus Metals Ltd	0.087	12%	-24%	9%	6%	$73,909,255
VMC	Venus Metals Cor Ltd	0.1	11%	-17%	79%	3%	$19,612,868
AS2	Askarimetalslimited	0.01	11%	0%	-64%	-80%	$2,776,340
SCN	Scorpion Minerals	0.02	11%	5%	54%	-13%	$10,234,124
GT1	Greentechnology	0.04	11%	0%	-56%	-67%	$15,550,084
GRL	Godolphin Resources	0.01	11%	-23%	-33%	-67%	$4,488,733
LCY	Legacy Iron Ore	0.01	11%	0%	-20%	-35%	$97,620,426
LTR	Liontown Resources	0.515	11%	-20%	-38%	-56%	$1,250,146,397
LOT	Lotus Resources Ltd	0.155	11%	-9%	-43%	-63%	$366,211,051
SMX	Strata Minerals	0.031	11%	-37%	24%	29%	$7,568,604
NWC	New World Resources	0.021	11%	5%	0%	-45%	$74,366,916
WA1	Wa1Resourcesltd	10.83	10%	-19%	-22%	-32%	$733,361,854
AXN	Alliance Nickel Ltd	0.032	10%	0%	-18%	-11%	$23,226,868
VUL	Vulcan Energy	4.28	10%	2%	-14%	41%	$931,220,230
LKE	Lake Resources	0.033	10%	-3%	-40%	-43%	$59,503,943
STM	Sunstone Metals Ltd	0.011	10%	57%	57%	-27%	$65,501,190
IDA	Indiana Resources	0.08	10%	8%	53%	82%	$51,418,597
KNG	Kingsland Minerals	0.115	10%	-4%	-43%	-48%	$8,344,505
TVN	Tivan Limited	0.105	9%	19%	119%	110%	$210,808,386
KFM	Kingfisher Mining	0.048	9%	-11%	-26%	-38%	$2,578,320
IGO	IGO Limited	3.4	9%	-15%	-37%	-53%	$2,574,710,564
PLS	Pilbara Min Ltd	1.37	9%	-25%	-49%	-64%	$4,408,564,108
LYC	Lynas Rare Earths	8.36	9%	13%	8%	37%	$7,814,244,027
FTL	Firetail Resources	0.05	9%	-17%	-60%	54%	$19,001,399
CXO	Core Lithium	0.065	8%	-14%	-41%	-54%	$139,296,010
LM1	Leeuwin Metals Ltd	0.195	8%	63%	141%	175%	$19,657,245
OMH	OM Holdings Limited	0.34	8%	8%	-11%	-28%	$260,527,312
PNN	Power Minerals Ltd	0.07	8%	-7%	-33%	-46%	$7,969,841
EMC	Everest Metals Corp	0.145	7%	-6%	4%	32%	$32,448,656
PTR	Petratherm Ltd	0.225	7%	-14%	350%	800%	$77,763,323
PFE	Pantera Lithium	0.015	7%	-17%	-46%	-59%	$7,106,755
JLL	Jindalee Lithium Ltd	0.235	7%	15%	2%	-64%	$17,294,085
PUR	Pursuit Minerals	0.047	7%	-36%	-69%	-81%	$4,687,496
BSX	Blackstone Ltd	0.064	7%	12%	105%	9%	$43,298,789
VR8	Vanadium Resources	0.016	7%	-11%	-66%	-64%	$9,028,670
ITM	Itech Minerals Ltd	0.048	7%	0%	-31%	-35%	$8,200,099
FBM	Future Battery	0.017	6%	-11%	-6%	-69%	$11,369,701
LSR	Lodestar Minerals	0.017	6%	55%	-15%	-47%	$5,413,205
RAS	Ragusa Minerals Ltd	0.017	6%	-19%	6%	-23%	$2,424,179
S32	South32 Limited	2.67	6%	-24%	-27%	-19%	$12,048,995,756
AGY	Argosy Minerals Ltd	0.018	6%	-22%	-53%	-86%	$26,206,577
GED	Golden Deeps	0.018	6%	-14%	-42%	-60%	$3,188,263
GCM	Green Critical Min	0.009	6%	-18%	200%	125%	$17,655,105
QPM	QPM Energy Limited	0.037	6%	-23%	0%	6%	$93,435,731
BHP	BHP Group Limited	36.07	6%	-7%	-17%	-20%	$183,091,039,916
AAJ	Aruma Resources Ltd	0.0095	6%	-14%	-44%	-50%	$2,109,553
EGR	Ecograf Limited	0.295	5%	90%	251%	64%	$133,968,887
BKT	Black Rock Mining	0.02	5%	0%	-57%	-69%	$29,388,798
MLS	Metals Australia	0.02	5%	-5%	-17%	-13%	$14,574,390
LIN	Lindian Resources	0.1	5%	4%	1%	-33%	$115,317,224
ABX	ABX Group Limited	0.04	5%	14%	-2%	-38%	$10,011,738
DM1	Desert Metals	0.02	5%	-5%	-38%	-23%	$6,516,412
KZR	Kalamazoo Resources	0.081	5%	4%	-4%	-18%	$16,960,875
VTM	Victory Metals Ltd	0.415	5%	1%	22%	60%	$45,443,626
HAW	Hawthorn Resources	0.044	5%	2%	-24%	-38%	$14,740,687
KM1	Kalimetalslimited	0.09	5%	15%	-47%	-78%	$7,140,706
A8G	Australasian Metals	0.069	5%	-8%	-43%	8%	$3,994,391
S2R	S2 Resources	0.096	4%	43%	25%	-29%	$43,474,367
VHM	Vhmlimited	0.24	4%	-6%	-47%	-52%	$52,115,988
SLM	Solismineralsltd	0.081	4%	0%	0%	-26%	$7,980,975
TMB	Tambourahmetals	0.028	4%	-15%	-7%	-57%	$3,292,521
ADV	Ardiden Ltd	0.145	4%	0%	7%	-6%	$9,065,038
JMS	Jupiter Mines.	0.145	4%	-12%	-15%	-44%	$284,351,055
RVT	Richmond Vanadium	0.15	3%	-3%	-55%	-55%	$33,275,000
DLI	Delta Lithium	0.16	3%	-3%	-35%	-41%	$114,646,687
PGD	Peregrine Gold	0.175	3%	46%	3%	-19%	$14,848,355
KAI	Kairos Minerals Ltd	0.0195	3%	3%	50%	50%	$51,302,788
CHR	Charger Metals	0.041	3%	-9%	-51%	-61%	$3,174,230
E25	Element 25 Ltd	0.215	2%	-12%	-33%	-9%	$49,151,666
ZNC	Zenith Minerals Ltd	0.05	2%	4%	4%	-48%	$20,372,071
NMT	Neometals Ltd	0.055	2%	-17%	-41%	-56%	$42,318,380
QXR	Qx Resources Limited	0.003	0%	-25%	-40%	-80%	$3,930,987
AZL	Arizona Lithium Ltd	0.006	0%	-33%	-65%	-75%	$27,370,887
RIL	Redivium Limited	0.004	0%	0%	0%	33%	$13,609,422
LPD	Lepidico Ltd	0.002	0%	0%	-33%	-20%	$17,178,371
MRD	Mount Ridley Mines	0.0025	0%	-17%	-75%	-75%	$1,946,223
CZN	Corazon Ltd	0.002	0%	-20%	-50%	-80%	$2,369,145
RLC	Reedy Lagoon Corp.	0.002	0%	0%	0%	-50%	$1,553,413
CLA	Celsius Resource Ltd	0.007	0%	-13%	-42%	-42%	$20,352,998
MNS	Magnis Energy Tech	0.042	0%	0%	0%	0%	$50,378,922
QEM	QEM Limited	0.051	0%	-22%	-48%	-65%	$9,732,518
SBR	Sabre Resources	0.006	0%	-14%	-54%	-67%	$2,357,772
EVG	Evion Group NL	0.018	0%	0%	-40%	-28%	$7,828,559
TKL	Traka Resources	0.001	0%	0%	0%	-50%	$2,125,790
JRV	Jervois Global Ltd	0.011	0%	0%	-21%	-52%	$29,730,402
ADD	Adavale Resource Ltd	0.002	0%	0%	0%	-67%	$4,574,558
VML	Vital Metals Limited	0.003	0%	50%	50%	-40%	$17,685,201
AVL	Aust Vanadium Ltd	0.011	0%	-8%	-31%	-31%	$94,981,239
GL1	Globallith	0.175	0%	-3%	-27%	-61%	$45,803,122
LEL	Lithenergy	0.37	0%	0%	-8%	-31%	$41,440,581
RMX	Red Mount Min Ltd	0.007	0%	-22%	-22%	-53%	$3,254,705
1MC	Morella Corporation	0.02	0%	5%	-35%	-80%	$6,605,310
MRC	Mineral Commodities	0.026	0%	0%	0%	0%	$25,596,288
BMM	Bayanminingandmin	0.036	0%	-14%	-23%	-38%	$3,462,820
AML	Aeon Metals Ltd.	0.005	0%	0%	0%	0%	$5,482,003
WKT	Walkabout Resources	0.095	0%	0%	-4%	-17%	$63,769,838
TON	Triton Min Ltd	0.005	0%	0%	-50%	-58%	$7,841,944
CNJ	Conico Ltd	0.007	0%	0%	-30%	-53%	$1,662,411
BOA	BOA Resources Ltd	0.018	0%	6%	-14%	-40%	$2,220,351
EVR	Ev Resources Ltd	0.005	0%	11%	36%	-32%	$9,929,183
EFE	Eastern Resources	0.026	0%	-12%	-48%	-68%	$3,278,339
EMS	Eastern Metals	0.01	0%	0%	-57%	-71%	$1,136,762
IMI	Infinitymining	0.013	0%	8%	-48%	-81%	$5,499,205
TEM	Tempest Minerals	0.005	0%	0%	-38%	-42%	$3,172,649
OB1	Orbminco Limited	0.001	0%	-33%	-60%	-73%	$2,166,590
KOR	Korab Resources	0.008	0%	0%	0%	-20%	$2,936,400
CMX	Chemxmaterials	0.026	0%	0%	-32%	-38%	$3,354,580
NC1	Nicoresourceslimited	0.075	0%	-9%	-35%	-42%	$8,227,543
ENT	Enterprise Metals	0.002	0%	-33%	-50%	-33%	$2,356,635
RBX	Resource B	0.028	0%	-22%	-20%	-30%	$3,225,166
EMT	Emetals Limited	0.003	0%	0%	-25%	-40%	$2,550,000
PNT	Panthermetalsltd	0.015	0%	-6%	-53%	-37%	$4,513,568
RGL	Riversgold	0.0045	0%	0%	50%	-36%	$7,576,707
THR	Thor Energy PLC	0.01	0%	-17%	-38%	-52%	$7,107,898
YAR	Yari Minerals Ltd	0.004	0%	-20%	14%	-33%	$1,929,431
LPM	Lithium Plus	0.057	0%	-7%	-58%	-56%	$7,571,880
CLZ	Classic Min Ltd	0.001	0%	0%	0%	-89%	$1,544,026
CRI	Criticalim	0.013	0%	-24%	8%	-52%	$34,949,832
AOA	Ausmon Resorces	0.002	0%	0%	-20%	-33%	$2,622,427
BCA	Black Canyon Limited	0.06	0%	-2%	-10%	-40%	$7,779,042
BUR	Burleyminerals	0.044	0%	-24%	-37%	-6%	$6,616,322
L1M	Lightning Minerals	0.06	0%	-18%	-13%	-20%	$6,199,699
OM1	Omnia Metals Group	0.009	0%	-88%	-88%	-88%	$1,953,825
LLL	Leolithiumlimited	0.332997	0%	0%	0%	0%	$401,204,047
SRN	Surefire Rescs NL	0.003	0%	0%	-45%	-70%	$7,248,923
WSR	Westar Resources	0.005	0%	-50%	-44%	-65%	$1,993,624
LU7	Lithium Universe Ltd	0.006	0%	-25%	-68%	-79%	$4,715,878
TMX	Terrain Minerals	0.003	0%	-25%	-14%	-25%	$6,010,670
FIN	FIN Resources Ltd	0.005	0%	-17%	-17%	-72%	$3,246,344
RON	Roninresourcesltd	0.17	0%	-13%	42%	55%	$6,863,752
ASR	Asra Minerals Ltd	0.003	0%	0%	-33%	-57%	$7,119,380
ATM	Aneka Tambang	0.98	-2%	-2%	1%	-11%	$1,277,576
ASN	Anson Resources Ltd	0.059	-2%	11%	-22%	-49%	$81,817,456
AXE	Archer Materials	0.26	-2%	-10%	8%	-45%	$66,260,223
GW1	Greenwing Resources	0.04	-2%	33%	-29%	-40%	$9,626,059
INF	Infinity Lithium	0.0195	-3%	-15%	-43%	-70%	$9,215,546
DEV	Devex Resources Ltd	0.07	-3%	-15%	-50%	-76%	$30,918,347
KOB	Kobaresourceslimited	0.048	-4%	-17%	-56%	-60%	$7,610,957
GAL	Galileo Mining Ltd	0.115	-4%	-15%	-18%	-57%	$22,726,867
AZI	Altamin Limited	0.023	-4%	-8%	-30%	-48%	$13,213,567
FGR	First Graphene Ltd	0.04	-5%	-13%	-9%	-34%	$29,966,850
PGM	Platina Resources	0.02	-5%	0%	-9%	-26%	$12,463,607
BUX	Buxton Resources Ltd	0.0235	-6%	-6%	-64%	-80%	$6,272,367
LEG	Legend Mining	0.0075	-6%	-25%	-42%	-46%	$21,821,079
IG6	Internationalgraphit	0.045	-6%	-8%	-30%	-71%	$8,710,125
MLX	Metals X Limited	0.5	-7%	-25%	16%	11%	$443,195,769
KNI	Kunikolimited	0.135	-7%	0%	-16%	-47%	$11,734,776
CMO	Cosmometalslimited	0.013	-7%	-13%	-34%	-69%	$3,627,030
CWX	Carawine Resources	0.09	-7%	-14%	-8%	-18%	$21,251,290
WC1	Westcobarmetals	0.012	-8%	-25%	-47%	-75%	$2,149,878
HRE	Heavy Rare Earths	0.023	-8%	0%	-35%	-31%	$4,784,779
FG1	Flynngold	0.022	-8%	0%	-24%	-51%	$7,066,868
CDT	Castle Minerals	0.055	-8%	-8%	-54%	-69%	$6,380,526
LMG	Latrobe Magnesium	0.01	-9%	-23%	-69%	-80%	$25,485,374
EMH	European Metals Hldg	0.205	-11%	8%	-7%	-38%	$42,526,165
LIT	Livium Ltd	0.008	-11%	-11%	-64%	-72%	$13,428,627
PVT	Pivotal Metals Ltd	0.008	-11%	14%	-20%	-60%	$7,257,807
DTM	Dart Mining NL	0.004	-11%	0%	-71%	-88%	$2,751,056
EG1	Evergreenlithium	0.053	-12%	-34%	-24%	-47%	$10,312,650
GRE	Greentechmetals	0.06	-12%	3%	-56%	-76%	$6,728,549
A11	Atlantic Lithium	0.15	-12%	-12%	-51%	-58%	$103,972,097
GLN	Galan Lithium Ltd	0.105	-13%	-5%	-22%	-72%	$88,200,977
ICL	Iceni Gold	0.06	-13%	-24%	46%	131%	$18,473,129
OD6	Od6Metalsltd	0.026	-13%	-7%	-24%	-64%	$4,140,389
BM8	Battery Age Minerals	0.051	-14%	-16%	-56%	-49%	$6,075,673
MOH	Moho Resources	0.003	-14%	-40%	-57%	-40%	$2,192,624
M2R	Miramar	0.003	-14%	0%	-57%	-74%	$2,990,470
ANX	Anax Metals Ltd	0.006	-14%	-25%	-57%	-78%	$5,296,845
ALY	Alchemy Resource Ltd	0.005	-17%	-29%	-38%	-29%	$5,890,381
PVW	PVW Res Ltd	0.013	-19%	-13%	-43%	-46%	$2,585,762
AVW	Avira Resources Ltd	0.006	-25%	-33%	-70%	-70%	$1,098,676
PRL	Province Resources	0	-100%	-100%	-100%	-100%	$0
POS	Poseidon Nick Ltd	0	-100%	-100%	-100%	-100%	$23,380,727
LRS	Latin Resources Ltd	0	-100%	-100%	-100%	-100%	$477,661,711
CAI	Calidus Resources	0	-100%	-100%	-100%	-100%	$93,678,206
LTM	Arcadium Lithium PLC	0	-100%	-100%	-100%	-100%	$1,994,929,982

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Originally published as High Voltage: Lithium rebound could be on the cards and these North American players are getting ready