CAPITAL MARKETS

Lithium players have another strong day out

MINERS were the worst performers on the ASX today, but the lithium sector continued to be very much in favour with investors.

Lithium players have another strong day out

The ASX 200 closed 0.3% higher, but Metals & Mining fell 1.2% with just a fifth of stocks to register gains.

Lithium Pilbara Minerals shares hit an all-time high of A$3.89 and closed at $3.76.

It comes after the company's market cap broke the $11 billion mark for the first time on Friday.

Fellow lithium (and nickel) producer IGO hit a record $12.92 early in the session but couldn't hang on to the gains and closed slightly lower at $12.68

Among the juniors, Charger Metals (CHR) rose by more than  after data suggested it had a "large lithium system" at its Bynoe project in the Northern Territory.

Green Technology Metals (GT1) rose 17% on an impressive lithium hit at Seymour in Canada, though perhaps investors got confused, as the similarly named GreenTech Metals (GRE) rose 20% on no news.

Ardiden (ADV), which holds a 49% interest in Green Technology's Seymour, rose by more than 40%.

Argosy Minerals (AGY), Core Lithium (CXX), Lithium Energy (LEL), Essential Metals (ESS), Askari Metals (AS2), Critical Resources (CRR), Lithium Power International (LPI) and QX Resources (QXR) all reached 52-week (and in some cases, all-time) highs.

Other battery metals players Australian Vanadium (AVL), Renascor Resources (RNU) and Quantum Graphite (QGL) were also at one-year highs.

Outside lithium, Austin Metals (AYT) rose on copper rock chips, while Lunnon Metals (LM8) gained on a Kambalda nickel hit.

American Rare Earths (ARR) and Cobalt Blue Holdings (COB) were big movers on no news, but positive sentiment for their respective commodities.

Among the large-caps, De Grey Mining and coal stocks Whitehaven and New Hope were strong movers.

Updated: 17-01-2022

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