CAPITAL MARKETS

Lithium players have another strong day out

Pilbara shares at fresh record

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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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