High Voltage: Labor vs Liberal – critical minerals on the campaign trail

As Australia goes to the polls critical minerals have become part of the election campaign. Where do Labor and Liberal stand?

Albanese v Dutton. Whose policies work best for battery metals? Pic: Getty Images

• Aussies officially head to the polls on Saturday to elect our next Prime Minister, so we checked out what the major parties have in store for critical minerals

• Labor has laid down the gauntlet with its $1,2bn critical minerals stockpile

• Dutton's Coalition will add uranium to the critical minerals list, cut red tape and reinstate the Junior Minerals Exploration Incentive

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

The Federal election is looming on Saturday, and so too are the promised policies from the incumbent and hopeful parties that could have a big impact on Australia’s critical minerals sector.

Promises for the resources industry are a key plank of both PM Anthony Albanese’s Labor and Opposition Leader Peter Dutton’s Coalition’s entreaties to West Australian voters.

It’s thought that a slew of seats in Perth’s swinging east, including the new seat of Bullwinkel, could play a key role in deciding Saturday’s poll after shifting to the left in the 2022 Federal Election.

To save you the trouble, we’ve compiled critical minerals  into what the future could hold for Aussie stocks under a Labor or Liberal government.

Albanese throws $1.2bn at stockpile

Prime minister Anthony Albanese is promising to stockpile critical minerals like lithium if he nabs another term in office. He’s planning to throw $1.2bn at establishing an Aussie strategic reserve of critical minerals.

The move comes as the West looks to create a separate supply chain for minerals such as lithium, nickel and cobalt amid a market dominated by China, which has announced a swathe of export restrictions in response to US President Trump’s tariffs.

“It will mean we can deal with trade and market disruptions from a position of strength, because Australia will be able to call on an internationally significant quantity of resources in global demand,” Albanese said in a statement last week.

The idea is that the government would buy critical minerals from commercial projects, which would then be available to domestic industries and key international partners.

As an added bonus, this national stockpile could also secure the country an exception from the US 10 per cent tariff on Australian exports. Along with the $1.2bn for the reserve, another $1bn will be added to the Critical Minerals Facility, taking the pool to $5bn.

Australia’s critical minerals list essentially covers things like lithium, cobalt, graphite, nickel, rare earths and vanadium – much like this column.

However, some companies have expressed concerns that the policy will prop up unviable projects and put downwards pressure on prices. Time will tell.

The Albanese Government is also planning to continue its “$7bn” Critical Minerals Production Tax Incentive, a tax break for minerals refined in Australia criticised by the Opposition as “billions for billionaires”.

Libs to add to critical mineral list but watch out EVs

In contrast, the Liberals have confirmed they would expand the official critical minerals list to include uranium along with zinc, bauxite, alumina, aluminium, potash, phosphate and tin – if they win the election in Saturday.

Libs leader Peter Dutton is playing the long game, with plans to instead drive investment in exploration, promising to $3.4bn in a 35 year exploration program to map all of Australia.

They’re also pledging to cut red and green tape and upgrade mining roads to get resources to market faster.

“I want to make Australia a mining, manufacturing and agricultural powerhouse again. Under a Coalition Government, more mines will be approved, more gas will flow, more farms will flourish and more factories will open,” Dutton said in a statement.

On the flipside, the Dutton Government will scrap a Fringe Benefits Tax exemption on electric vehicle sales – estimated savings in forward estimates of $3bn – that could chill the rollout of the cars in the Aussie market.

The Coalition has also promised to invest $100m in the Junior Minerals Exploration Incentive, a key wishlist item for the Association of Mining and Exploration Companies and Minerals Council of Australia.

The JMEI has operated since 2017, offering between $15-35m each year since returned to investors in selected junior companies in the form of tax credits.

That’s predicated on a theory that small companies will be able to raise capital easier by offering tax breaks to investors, thereby sending more cash into the ground in the form of drilling. The outcome – in the abstract – more discoveries.

$29.77m was budgeted in the 2024-25 financial year, the last before the JMEI missed the cut in Labor’s March budget.

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 %	6 MONTH %	YEAR %	MARKET CAP
JLL	Jindalee Lithium Ltd	0.565	113%	176%	151%	-3%	$41,579,395
TKL	Traka Resources	0.002	100%	100%	0%	0%	$4,251,580
NMT	Neometals Ltd	0.082	46%	24%	-12%	-17%	$57,706,881
AZL	Arizona Lithium Ltd	0.007	40%	0%	-56%	-70%	$27,370,887
G88	Golden Mile Res Ltd	0.011	38%	22%	-31%	-8%	$5,986,726
RBX	Resource B	0.037	32%	12%	3%	-3%	$4,261,826
PNT	Panthermetalsltd	0.017	31%	13%	-39%	-38%	$5,115,377
IG6	Internationalgraphit	0.057	30%	14%	-11%	-53%	$10,645,708
PTR	Petratherm Ltd	0.28	27%	-8%	400%	977%	$86,403,693
RNU	Renascor Res Ltd	0.072	26%	53%	1%	-27%	$178,018,086
DVP	Develop Global Ltd	3.24	26%	14%	28%	32%	$883,369,408
LML	Lincoln Minerals	0.005	25%	0%	-17%	-29%	$10,512,849
EVR	Ev Resources Ltd	0.005	25%	0%	9%	-32%	$9,929,183
TEM	Tempest Minerals	0.005	25%	25%	-17%	-42%	$2,855,384
YAR	Yari Minerals Ltd	0.005	25%	25%	25%	0%	$2,411,789
LCY	Legacy Iron Ore	0.01	25%	-9%	-20%	-39%	$97,620,426
NWC	New World Resources	0.026	24%	0%	30%	-29%	$88,532,043
RAS	Ragusa Minerals Ltd	0.021	24%	-9%	31%	0%	$2,994,575
QPM	QPM Energy Limited	0.046	21%	10%	31%	-15%	$108,587,472
INF	Infinity Lithium	0.024	20%	20%	-23%	-60%	$12,287,394
LMG	Latrobe Magnesium	0.012	20%	-8%	-54%	-76%	$28,033,911
FIN	FIN Resources Ltd	0.006	20%	20%	-14%	-67%	$4,169,331
MIN	Mineral Resources.	20.54	19%	-19%	-43%	-72%	$4,046,318,056
AS2	Askarimetalslimited	0.0095	19%	-5%	-67%	-80%	$2,637,523
PUR	Pursuit Minerals	0.045	18%	-13%	-70%	-82%	$4,288,560
LOT	Lotus Resources Ltd	0.175	17%	6%	-33%	-60%	$425,277,350
SBR	Sabre Resources	0.007	17%	0%	-46%	-59%	$2,761,234
CRR	Critical Resources	0.0035	17%	-30%	-56%	-71%	$9,149,774
MRR	Minrex Resources Ltd	0.008	14%	0%	0%	-33%	$8,678,940
WC1	Westcobarmetals	0.016	14%	7%	-16%	-59%	$2,866,505
BUX	Buxton Resources Ltd	0.034	13%	10%	-55%	-68%	$8,808,005
1AE	Auroraenergymetals	0.051	13%	9%	11%	-42%	$9,311,314
NH3	Nh3Cleanenergyltd	0.026	13%	13%	8%	37%	$14,115,120
BNR	Bulletin Res Ltd	0.07	13%	67%	56%	49%	$20,552,933
ASM	Ausstratmaterials	0.66	13%	81%	22%	-35%	$115,151,333
VRC	Volt Resources Ltd	0.0045	13%	-10%	13%	-10%	$21,081,501
DTM	Dart Mining NL	0.005	11%	0%	-62%	-80%	$3,438,820
VHM	Vhmlimited	0.3	11%	15%	-28%	-40%	$63,553,486
SRL	Sunrise	0.5	11%	85%	43%	-26%	$47,369,436
LKE	Lake Resources	0.0355	11%	8%	-43%	-43%	$63,110,243
DEV	Devex Resources Ltd	0.085	10%	-11%	-35%	-72%	$37,543,707
KNG	Kingsland Minerals	0.115	10%	0%	-36%	-49%	$9,070,114
THR	Thor Energy PLC	0.012	9%	-8%	-25%	-37%	$8,529,478
M24	Mamba Exploration	0.012	9%	-8%	0%	-48%	$3,541,987
ILU	Iluka Resources	4.05	9%	-1%	-32%	-47%	$1,783,097,520
RON	Roninresourcesltd	0.195	8%	22%	39%	70%	$7,873,127
CNB	Carnaby Resource Ltd	0.27	8%	-5%	-29%	-63%	$62,806,936
FGR	First Graphene Ltd	0.041	8%	-2%	-5%	-34%	$31,448,069
AQD	Ausquest Limited	0.056	8%	4%	522%	426%	$80,893,120
DRE	Dreadnought Resources Ltd	0.014	8%	8%	-7%	-18%	$72,666,038
ASL	Andean Silver	0.975	7%	-28%	-31%	97%	$166,712,443
NIC	Nickel Industries	0.54	7%	-13%	-44%	-43%	$2,452,063,769
QEM	QEM Limited	0.048	7%	-20%	-13%	-67%	$9,350,851
PFE	Pantera Lithium	0.016	7%	-6%	-33%	-57%	$7,106,755
NTU	Northern Min Ltd	0.034	6%	70%	70%	-3%	$284,143,298
SRZ	Stellar Resources	0.017	6%	-6%	-6%	0%	$35,355,760
DLI	Delta Lithium	0.17	6%	-3%	-32%	-44%	$125,394,814
EVG	Evion Group NL	0.018	6%	0%	-40%	-25%	$7,828,559
FBM	Future Battery	0.018	6%	-5%	-5%	-64%	$11,369,701
CMO	Cosmometalslimited	0.018	6%	20%	27%	-44%	$5,738,441
MLS	Metals Australia	0.02	5%	-5%	-9%	-9%	$14,574,390
FTL	Firetail Resources	0.06	5%	2%	-50%	80%	$22,801,679
ESR	Estrella Res Ltd	0.0305	5%	9%	154%	663%	$61,558,106
IGO	IGO Limited	3.78	5%	-10%	-28%	-52%	$2,968,489,827
S2R	S2 Resources	0.105	5%	18%	42%	-22%	$49,814,379
BSX	Blackstone Ltd	0.064	5%	-23%	93%	19%	$45,328,420
MLX	Metals X Limited	0.555	5%	-17%	19%	22%	$500,811,219
DYM	Dynamicmetalslimited	0.34	5%	-7%	55%	89%	$16,688,675
PLL	Piedmont Lithium Inc	0.115	5%	10%	-41%	-41%	$74,622,936
TVN	Tivan Limited	0.115	5%	17%	140%	105%	$220,846,881
GCM	Green Critical Min	0.0115	5%	-4%	64%	188%	$23,540,140
EMH	European Metals Hldg	0.235	4%	-4%	34%	-47%	$49,786,729
E25	Element 25 Ltd	0.235	4%	-10%	-22%	-4%	$53,723,914
STM	Sunstone Metals Ltd	0.0125	4%	56%	56%	-11%	$71,613,044
PBL	Parabellumresources	0.052	4%	11%	6%	0%	$3,551,100
ARR	American Rare Earths	0.27	4%	-2%	6%	-7%	$139,541,407
S32	South32 Limited	2.745	4%	-19%	-25%	-24%	$12,410,014,356
BM8	Battery Age Minerals	0.06	3%	-8%	-38%	-40%	$7,147,851
RVT	Richmond Vanadium	0.155	3%	35%	-47%	-37%	$33,955,091
KNI	Kunikolimited	0.16	3%	14%	-11%	-32%	$13,907,883
NVA	Nova Minerals Ltd	0.325	3%	8%	41%	16%	$106,589,148
PAT	Patriot Lithium	0.067	3%	37%	60%	-32%	$8,470,004
AGY	Argosy Minerals Ltd	0.0185	3%	-16%	-56%	-86%	$26,206,577
SYA	Sayona Mining Ltd	0.0185	3%	3%	-49%	-46%	$219,322,624
ABX	ABX Group Limited	0.041	3%	3%	-5%	-33%	$9,786,391
WA1	Wa1Resourcesltd	11.96	2%	-14%	-10%	-31%	$855,250,251
ARL	Ardea Resources Ltd	0.44	2%	1%	5%	-35%	$88,373,424
SYR	Syrah Resources	0.245	2%	-2%	-13%	-53%	$260,561,204
SYR	Syrah Resources	0.245	2%	-2%	-13%	-53%	$260,561,204
AXE	Archer Materials	0.26	2%	-13%	2%	-49%	$67,534,458
INR	Ioneer Ltd	0.1375	2%	-8%	-54%	-29%	$341,572,515
ASN	Anson Resources Ltd	0.056	2%	-10%	-25%	-47%	$77,657,246
CDT	Castle Minerals	0.056	2%	-38%	-38%	-69%	$6,612,545
PSC	Prospect Res Ltd	0.1475	2%	9%	92%	-8%	$101,058,173
JMS	Jupiter Mines.	0.1475	2%	-11%	-16%	-50%	$294,156,264
IPX	Iperionx Limited	3.345	2%	11%	7%	59%	$1,139,404,806
CHN	Chalice Mining Ltd	1.06	1%	-12%	-43%	-12%	$427,929,467
HAS	Hastings Tech Met	0.36	1%	14%	44%	6%	$67,991,808
VTM	Victory Metals Ltd	0.48	1%	22%	32%	113%	$52,013,789
TOR	Torque Met	0.096	1%	-3%	30%	-26%	$25,887,737
CXO	Core Lithium	0.0695	1%	-11%	-40%	-52%	$150,011,088
LYC	Lynas Rare Earths	8.25	0%	13%	8%	26%	$8,019,882,027
A8G	Australasian Metals	0.07	0%	-7%	-26%	9%	$4,052,281
RIL	Redivium Limited	0.004	0%	0%	0%	14%	$13,609,422
LPD	Lepidico Ltd	0.002	0%	0%	0%	-33%	$17,178,371
CZN	Corazon Ltd	0.002	0%	0%	-60%	-78%	$2,369,145
RLC	Reedy Lagoon Corp.	0.002	0%	0%	0%	-33%	$1,553,413
CLA	Celsius Resource Ltd	0.007	0%	0%	-36%	-30%	$20,352,998
MNS	Magnis Energy Tech	0.042	0%	0%	0%	0%	$50,378,922
BKT	Black Rock Mining	0.02	0%	-13%	-62%	-69%	$29,388,798
PGM	Platina Resources	0.02	0%	-13%	-13%	0%	$12,463,607
AAJ	Aruma Resources Ltd	0.009	0%	-18%	-47%	-44%	$2,498,154
IPT	Impact Minerals	0.006	0%	0%	-49%	-67%	$22,215,980
LIT	Livium Ltd	0.008	0%	-11%	-60%	-71%	$14,369,311
JRV	Jervois Global Ltd	0.011	0%	0%	0%	-31%	$29,730,402
ADD	Adavale Resource Ltd	0.002	0%	0%	-33%	-60%	$4,574,558
AUZ	Australian Mines Ltd	0.011	0%	29%	-27%	10%	$15,383,633
GL1	Globallith	0.165	0%	-13%	-25%	-59%	$44,494,461
GAL	Galileo Mining Ltd	0.11	0%	-12%	-27%	-63%	$21,738,742
LEL	Lithenergy	0.37	0%	0%	0%	-26%	$41,440,581
RMX	Red Mount Min Ltd	0.008	0%	0%	-33%	-47%	$3,719,662
1MC	Morella Corporation	0.018	0%	0%	-44%	-76%	$5,944,779
MRC	Mineral Commodities	0.026	0%	0%	0%	4%	$25,596,288
LEG	Legend Mining	0.008	0%	0%	-33%	-38%	$23,291,817
MOH	Moho Resources	0.003	0%	-25%	-40%	-40%	$2,192,624
AML	Aeon Metals Ltd.	0.005	0%	0%	0%	-17%	$5,482,003
WKT	Walkabout Resources	0.095	0%	0%	-3%	-21%	$63,769,838
TON	Triton Min Ltd	0.005	0%	0%	-44%	-64%	$7,841,944
AR3	Austrare	0.09	0%	15%	-9%	-13%	$14,468,065
VMC	Venus Metals Cor Ltd	0.11	0%	0%	72%	22%	$19,907,061
CNJ	Conico Ltd	0.007	0%	0%	-30%	-30%	$1,662,411
VR8	Vanadium Resources	0.016	0%	-20%	-61%	-64%	$9,028,670
MQR	Marquee Resource Ltd	0.01	0%	0%	-38%	-29%	$4,854,805
EFE	Eastern Resources	0.026	0%	-4%	-35%	-63%	$3,278,339
AX8	Accelerate Resources	0.007	0%	17%	-22%	-85%	$5,510,321
AM7	Arcadia Minerals	0.018	0%	-10%	-49%	-75%	$1,878,135
EMS	Eastern Metals	0.01	0%	0%	-50%	-71%	$1,136,762
FG1	Flynngold	0.022	0%	-15%	-31%	-33%	$8,608,962
LSR	Lodestar Minerals	0.016	0%	-16%	-20%	-33%	$5,094,781
CTN	Catalina Resources	0.002	0%	-33%	-47%	-29%	$3,327,519
TMB	Tambourahmetals	0.026	0%	-10%	-24%	-62%	$3,410,111
OB1	Orbminco Limited	0.001	0%	0%	-40%	-70%	$2,166,590
KOR	Korab Resources	0.008	0%	0%	0%	14%	$2,936,400
CMX	Chemxmaterials	0.026	0%	0%	-33%	-46%	$3,354,580
KGD	Kula Gold Limited	0.007	0%	-13%	-7%	-26%	$6,448,776
ENV	Enova Mining Limited	0.007	0%	17%	-13%	-63%	$9,894,505
AKN	Auking Mining Ltd	0.007	0%	0%	75%	-71%	$4,023,451
EMT	Emetals Limited	0.004	0%	0%	0%	-20%	$3,400,000
KAI	Kairos Minerals Ltd	0.02	0%	-9%	25%	67%	$52,618,244
ASO	Aston Minerals Ltd	0.018	0%	-5%	80%	50%	$24,606,221
LPM	Lithium Plus	0.059	0%	-13%	-63%	-51%	$7,837,560
ODE	Odessa Minerals Ltd	0.006	0%	-14%	-14%	50%	$7,997,663
AZI	Altamin Limited	0.024	0%	-20%	-12%	-36%	$13,788,069
CLZ	Classic Min Ltd	0.001	0%	0%	0%	-88%	$1,544,026
CRI	Criticalim	0.014	0%	-18%	17%	-30%	$37,638,280
IDA	Indiana Resources	0.076	0%	-3%	39%	70%	$50,133,132
TAR	Taruga Minerals	0.01	0%	25%	-17%	25%	$6,354,241
AOA	Ausmon Resorces	0.002	0%	0%	0%	0%	$2,622,427
GRL	Godolphin Resources	0.009	0%	-25%	-50%	-69%	$4,039,860
BCA	Black Canyon Limited	0.06	0%	-3%	-6%	-40%	$7,779,042
LLI	Loyal Lithium Ltd	0.069	0%	-1%	-45%	-74%	$7,152,047
PMT	Patriotbatterymetals	0.265	0%	-9%	-32%	-66%	$152,513,930
OM1	Omnia Metals Group	0.01	0%	5%	-87%	-87%	$2,170,917
LLL	Leolithiumlimited	0.332997	0%	0%	0%	0%	$401,204,047
LU7	Lithium Universe Ltd	0.006	0%	-25%	-57%	-82%	$4,715,878
MEI	Meteoric Resources	0.099	0%	41%	-14%	-54%	$245,370,592
SLM	Solismineralsltd	0.079	0%	-4%	-18%	-25%	$10,643,980
TMX	Terrain Minerals	0.003	0%	0%	0%	-25%	$6,010,670
BHP	BHP Group Limited	37.64	0%	-5%	-13%	-13%	$193,852,143,455
VUL	Vulcan Energy	4.68	-1%	-8%	-11%	38%	$1,055,237,877
RXL	Rox Resources	0.36	-1%	6%	85%	106%	$219,429,280
NC1	Nicoresourceslimited	0.072	-1%	-4%	-35%	-52%	$8,117,843
PLS	Pilbara Min Ltd	1.435	-2%	-22%	-50%	-65%	$4,842,984,659
KFM	Kingfisher Mining	0.048	-2%	-6%	-21%	-34%	$2,578,320
CWX	Carawine Resources	0.092	-2%	-7%	0%	-12%	$22,668,043
ITM	Itech Minerals Ltd	0.045	-2%	0%	-38%	-38%	$7,516,757
KM1	Kalimetalslimited	0.09	-2%	2%	-36%	-78%	$7,140,706
NVX	Novonix Limited	0.42	-2%	-13%	-41%	-51%	$270,323,663
KOB	Kobaresourceslimited	0.041	-2%	-25%	-58%	-58%	$6,818,149
ARU	Arafura Rare Earths	0.19	-3%	6%	31%	-5%	$505,187,382
WC8	Wildcat Resources	0.19	-3%	9%	-40%	-63%	$268,913,688
BC8	Black Cat Syndicate	0.945	-3%	1%	60%	244%	$682,856,022
AXN	Alliance Nickel Ltd	0.035	-3%	-5%	-8%	-15%	$25,404,387
MEK	Meeka Metals Limited	0.145	-3%	-3%	67%	326%	$377,215,151
ADV	Ardiden Ltd	0.14	-3%	0%	-3%	-13%	$9,065,038
ATM	Aneka Tambang	0.95	-4%	-5%	5%	-14%	$1,238,467
KZR	Kalamazoo Resources	0.08	-4%	0%	-13%	-11%	$17,170,268
EUR	European Lithium Ltd	0.053	-4%	36%	43%	0%	$78,039,799
FLG	Flagship Min Ltd	0.071	-4%	61%	16%	-56%	$14,251,595
WIN	WIN Metals	0.022	-4%	10%	-12%	-46%	$11,551,220
GLN	Galan Lithium Ltd	0.105	-5%	-5%	-42%	-67%	$93,984,206
AVL	Aust Vanadium Ltd	0.0105	-5%	-13%	-30%	-25%	$86,346,581
FRB	Firebird Metals	0.08	-5%	-9%	-24%	-53%	$11,958,358
HRE	Heavy Rare Earths	0.02	-5%	-13%	-51%	-35%	$4,160,678
WCN	White Cliff Min Ltd	0.019	-5%	12%	6%	27%	$37,909,415
GED	Golden Deeps	0.018	-5%	-14%	-40%	-56%	$3,011,137
DM1	Desert Metals	0.018	-5%	-25%	-45%	-18%	$7,961,159
WR1	Winsome Resources	0.175	-5%	-34%	-66%	-87%	$43,900,821
RR1	Reach Resources Ltd	0.0085	-6%	-15%	-29%	-6%	$7,869,882
RR1	Reach Resources Ltd	0.0085	-6%	-15%	-29%	-6%	$7,869,882
MHC	Manhattan Corp Ltd	0.016	-6%	-11%	-60%	-52%	$3,993,281
EGR	Ecograf Limited	0.2725	-6%	-12%	249%	65%	$122,615,591
MHK	Metalhawk.	0.385	-6%	-7%	120%	531%	$44,896,748
BMM	Bayanminingandmin	0.03	-6%	-29%	-44%	-45%	$2,885,683
TLG	Talga Group Ltd	0.43	-7%	-8%	6%	-39%	$182,707,820
EMC	Everest Metals Corp	0.14	-7%	-18%	8%	41%	$31,329,737
WMG	Western Mines	0.14	-7%	40%	-30%	-66%	$13,101,235
CHR	Charger Metals	0.04	-7%	-11%	-40%	-49%	$3,096,810
PVW	PVW Res Ltd	0.013	-7%	0%	-46%	-54%	$2,585,762
REC	Rechargemetals	0.013	-7%	-7%	-57%	-62%	$3,334,370
SRI	Sipa Resources Ltd	0.012	-8%	-8%	-29%	-29%	$4,996,780
NWM	Norwest Minerals	0.012	-8%	20%	-33%	-72%	$6,791,673
ICL	Iceni Gold	0.06	-8%	-23%	25%	131%	$20,012,556
SGQ	St George Min Ltd	0.023	-8%	21%	-8%	28%	$61,359,916
STK	Strickland Metals	0.09	-8%	-10%	36%	-22%	$205,874,742
ZNC	Zenith Minerals Ltd	0.045	-8%	-13%	-22%	-47%	$18,742,305
ALY	Alchemy Resource Ltd	0.0055	-8%	-21%	-21%	-21%	$6,479,419
OD6	Od6Metalsltd	0.022	-8%	-31%	-57%	-69%	$3,503,406
HAW	Hawthorn Resources	0.044	-8%	-15%	-25%	-41%	$14,740,687
LM1	Leeuwin Metals Ltd	0.16	-9%	7%	119%	113%	$17,641,117
MTM	MTM Critical Metals	0.21	-9%	31%	159%	282%	$105,495,923
TKM	Trek Metals Ltd	0.063	-9%	17%	117%	62%	$34,955,432
CTM	Centaurus Metals Ltd	0.365	-9%	4%	-24%	-12%	$183,779,449
COB	Cobalt Blue Ltd	0.06	-9%	0%	-35%	-34%	$26,245,492
RAG	Ragnar Metals Ltd	0.02	-9%	0%	-9%	11%	$9,953,706
OMH	OM Holdings Limited	0.3	-9%	-12%	-19%	-38%	$249,033,460
MAN	Mandrake Res Ltd	0.018	-10%	0%	-33%	-44%	$12,545,198
REE	Rarex Limited	0.027	-10%	23%	125%	80%	$20,821,992
PEK	Peak Rare Earths Ltd	0.135	-10%	23%	-33%	-44%	$47,532,705
PEK	Peak Rare Earths Ltd	0.135	-10%	23%	-33%	-44%	$47,532,705
KTA	Krakatoa Resources	0.009	-10%	0%	-18%	-18%	$5,581,206
WSR	Westar Resources	0.0045	-10%	-25%	-50%	-59%	$1,794,262
LTR	Liontown Resources	0.5025	-10%	-23%	-41%	-60%	$1,274,421,085
GBR	Greatbould Resources	0.069	-10%	-7%	28%	15%	$55,503,974
SCN	Scorpion Minerals	0.017	-11%	-11%	6%	-29%	$8,908,955
A11	Atlantic Lithium	0.125	-11%	-19%	-54%	-69%	$90,109,151
OCN	Oceanalithiumlimited	0.024	-11%	-11%	-18%	-46%	$3,712,402
L1M	Lightning Minerals	0.053	-12%	-26%	-18%	-46%	$5,683,058
IXR	Ionic Rare Earths	0.0075	-12%	7%	-25%	-46%	$39,288,213
LIN	Lindian Resources	0.11	-12%	13%	15%	-19%	$115,317,224
PVT	Pivotal Metals Ltd	0.007	-13%	0%	-22%	-59%	$6,350,581
SLZ	Sultan Resources Ltd	0.007	-13%	-13%	-22%	-36%	$1,620,289
AVW	Avira Resources Ltd	0.007	-13%	-13%	-65%	-65%	$1,281,789
ETM	Energy Transition	0.0635	-13%	-18%	189%	72%	$102,392,973
PGD	Peregrine Gold	0.1475	-13%	-22%	-2%	-36%	$12,727,161
CY5	Cygnus Metals Ltd	0.082	-14%	-25%	-41%	3%	$73,059,724
LRV	Larvottoresources	0.75	-14%	-25%	6%	942%	$347,488,617
QXR	Qx Resources Limited	0.003	-14%	0%	-40%	-79%	$5,241,315
CAE	Cannindah Resources	0.048	-14%	-36%	14%	-6%	$34,947,838
GW1	Greenwing Resources	0.03	-14%	-6%	-54%	-66%	$6,256,939
EV1	Evolutionenergy	0.011	-15%	-45%	-70%	-85%	$3,989,155
BUR	Burleyminerals	0.043	-16%	-11%	-50%	-30%	$8,118,547
MRD	Mount Ridley Mines	0.0025	-17%	0%	-75%	-75%	$1,946,223
VML	Vital Metals Limited	0.0025	-17%	-17%	25%	-50%	$17,685,201
EMN	Euromanganese	0.225	-17%	-13%	-24%	-44%	$8,813,199
ANX	Anax Metals Ltd	0.005	-17%	-38%	-58%	-82%	$4,414,038
PNN	Power Minerals Ltd	0.059	-18%	-17%	-44%	-51%	$6,717,438
GRE	Greentechmetals	0.045	-18%	-42%	-63%	-79%	$5,046,411
SUM	Summitminerals	0.038	-19%	-49%	-75%	-75%	$3,136,608
BYH	Bryah Resources Ltd	0.004	-20%	0%	33%	-50%	$3,479,814
RGL	Riversgold	0.004	-20%	0%	14%	-33%	$7,576,707
LNR	Lanthanein Resources	0.002	-20%	0%	-43%	-67%	$4,887,272
LNR	Lanthanein Resources	0.002	-20%	0%	-43%	-67%	$4,887,272
EG1	Evergreenlithium	0.04	-20%	-43%	-51%	-59%	$9,534,337
BOA	BOA Resources Ltd	0.015	-21%	-29%	-32%	-46%	$1,850,293
GSM	Golden State Mining	0.007	-22%	-22%	-36%	-42%	$1,955,594
IMI	Infinitymining	0.01	-23%	-17%	-60%	-87%	$4,230,158
M2R	Miramar	0.003	-25%	-25%	-63%	-68%	$2,990,470
SRN	Surefire Rescs NL	0.003	-25%	0%	-40%	-70%	$7,248,923
FRS	Forrestaniaresources	0.034	-26%	26%	143%	89%	$10,235,724
GT1	Greentechnology	0.028	-26%	-30%	-69%	-76%	$12,954,761
ENT	Enterprise Metals	0.002	-33%	-20%	-50%	-33%	$2,356,635
ASR	Asra Minerals Ltd	0.002	-33%	-43%	-50%	-71%	$5,412,094
ARN	Aldoro Resources	0.34	-35%	-8%	274%	386%	$84,270,788
SMX	Strata Minerals	0.018	-40%	-36%	-25%	-18%	$4,150,525

Weekly Small Cap Standouts

Jindalee Lithium (ASX:JLL)

The US lithium explorer has been on a tear since its McDermitt project was placed on the FAST-41 list by the Trump Administration.

Listed as a Transparency Project on the register after an April 18 executive order from President Donald Trump, the listing could lead to faster permitting for the project, one of 10 identified by the US Government as its first wave of critical minerals projects supported by a previous March 20 exec order to increase domestic mineral production.

The project, located near the site of America's first new lithium mine to hit FID in years, Thacker Pass, hosts an ore reserve of 251Mt at 1751ppm for 2.34Mt of lithium carbonate equivalent material.

A PFS last year suggested it would produce 47,500tpa of lithium carbonate in the first 10 years of the 40 year operation  at a C1 unit cost of US$8080/t.

"Being named among the first ten FAST-41 Transparency Projects validates McDermitt’s strategic importance to U.S. mineral security. Inclusion on the Federal Permitting Dashboard highlights our project's national significance, offering greater transparency and federal support to advance our Exploration Plan of Operations (EPO), currently in the final stages of National Environmental Policy Act (NEPA) review with an Environmental Assessment recently published for public comment," CEO Ian Rodger said last week.

"Once approved, the EPO will allow further on-site activity, including drilling to provide additional geological and environmental data, as well as fresh samples for geotechnical studies and further metallurgical test work. Jindalee remains committed to developing McDermitt transparently and responsibly, collaborating closely with federal and state agencies to realise this critical US lithium asset’s full potential.”

While it was up heavily in previous trading days, JLL stock fell over 16% on Thursday.

Golden Mile Resources (ASX:G88)

Golden Mile is about to begin drilling for copper in the USA at its Pearl project in Arizona.

A maiden drill program has been planned for the Odyssey and Ford prospects of 14-16 RC holes for up to 1800m.

Federal support has been cleared with a notice of intent received from the Bureau of Land Management.

There's already evidence of mineralisation on site, with rock chip samples including high grade gold at 10.8g/t and 8.94g/t found 800m east of the Odyssey prospect.

A silver assay of 283g/t was also identified from historic sampling 800m east of Odyssey.

Mobilisation was scheduled to commence at the start of this week.

"We are delighted to have secured all necessary permits, enabling us to advance to the maiden drilling program at the Odyssey and Ford Prospects. While the permittng process took longer than expected, our Exploration Manager has been pivotal in securing the final approvals and is currently in-country to directly oversee the execution of the program," G88 MD Damon Dormer said.

"The Pearl Copper Project represents a compelling opportunity for Golden Mile, and we are excited to begin unlocking its potential through this historic first drilling campaign.”

At Stockhead, we tell it like it is. While Golden Mile Resources is a Stockhead advertiser, they did not sponsor this article.

Originally published as High Voltage: Labor vs Liberal – critical minerals on the campaign trail