Wednesday, 8 March 2023

High Voltage: Tesla’s plan for a US$25k electric vehicle ‘could break the car market’

by Berkeley Lovelace

  • Tesla already has profit margins far bigger than its competitors
  • It plans to cut manufacturing costs for its next generation of vehicles by a further 50%
  • “If Tesla can sell its new model for US$25,000, that will be revolutionary”: Wood Mackenzie

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

 

High prices have been one of the main impediments to universal electric vehicle uptake.

While the cost/price gap between EV and ICE is steadily closing — thanks to falling battery costs (the most expensive part of an EV) and more streamlined and scaled manufacturing processes – many car makers are still taking a haircut on each EV they sell.

This is where Tesla stands head and shoulders above the rest, according to recent data from Visual Capitalist:

High Voltage: Tesla’s plan for a USk electric vehicle ‘could break the car market’
Source: Visual Capitalist

Tesla is an EV pioneer with a profit margin miles bigger than its competitors, including incumbents like GM, Ford and VW.

 

 

A US$25k EV?

One of the key takeaways from Tesla’s Investor Day presentation last week was a plan to cut manufacturing costs for its next generation of vehicles by a further 50%.

The new processes are not going to be used for Tesla’s current model line, but for a new car that company currently refers to only as “the next-gen vehicle”.

It is widely expected to be a small car: a mass-market entry-level EV that would sell for significantly less than the US$43,490 price of a basic Model 3, says Ram Chandrasekaran, Wood Mackenzie’s head of road transportation.

A 50% cost reduction will have a huge impact on sales of EVs.

“If Tesla can sell its new model for US$25,000, that will be revolutionary,” Chandrasekaran says.

“It will break the car market.”

With about US$22 billion cash at the end of last year, Tesla is well positioned to achieve the next phase of its growth, but Chandrasekaran cautions that its ambitions still present daunting challenges.

“It has grown to a company selling one million-plus cars a year, but it is looking at an enormous step beyond that,” he says.

“Now it wants to get to four or five million, and more, and only a handful of companies have ever done that.

Elon Musk’s goal of 20 million vehicles a year would give Tesla twice the production of Toyota or VW at their respective peaks, Chandrasekaran says.

“Musk’s record as an entrepreneur is undeniably hit-and-miss. But given the scale of his hits, it would seem rash to bet that he will fail.”

 

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

Battery metals stocks missing from our list? Shoot a mail to reuben@stockhead.com.au.

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
RXL Rox Resources 55% 22% -13% -44% 0.225 $50,479,709
ARN Aldoro Resources 44% 2% -15% -36% 0.23 $25,969,833
SRN Surefire Rescs NL 29% 29% 29% 38% 0.018 $23,720,452
ASO Aston Minerals Ltd 26% 30% 50% -22% 0.125 $133,623,712
LTR Liontown Resources 26% 10% -6% 7% 1.655 $3,781,341,969
ENT Enterprise Metals 25% 11% 11% -29% 0.01 $5,640,646
SRZ Stellar Resources 20% 0% -20% -54% 0.012 $12,055,571
AOA Ausmon Resorces 20% 0% -33% -14% 0.006 $5,815,736
FG1 Flynngold 19% -20% -17% -52% 0.075 $7,921,262
TKM Trek Metals Ltd 19% 1% 14% -3% 0.075 $26,567,991
EMH European Metals Hldg 18% 3% -3% -42% 0.7 $88,198,188
PVT Pivotal Metals Ltd 18% 24% 57% -18% 0.047 $22,203,840
CHR Charger Metals 17% -16% -30% -49% 0.345 $16,611,460
HAS Hastings Tech Met 16% -21% -51% -54% 2.63 $337,155,922
WKT Walkabout Resources 16% -4% -36% -45% 0.11 $67,289,010
CY5 Cygnus Metals Ltd 15% -26% 28% 93% 0.3575 $67,114,087
WA1 Wa1Resourcesltd 15% -17% 761% 545% 1.42 $49,289,845
E25 Element 25 Ltd 15% -5% 20% -19% 0.81 $156,177,502
VMC Venus Metals Cor Ltd 15% 3% -14% -14% 0.155 $26,711,802
TMB Tambourahmetals 14% 9% -17% -44% 0.12 $4,531,186
MTM Mtmongerresources 14% 54% -23% -27% 0.12 $6,419,331
GT1 Greentechnology 14% -17% 2% -9% 0.735 $139,239,027
GW1 Greenwing Resources 14% -15% -14% -12% 0.25 $36,323,422
LIN Lindian Resources 14% 14% 2% 762% 0.25 $263,995,691
PSC Prospect Res Ltd 13% 65% 122% 414% 0.215 $97,074,487
AXN Alliance Nickel Ltd 12% 5% -12% 86% 0.11 $64,250,628
OM1 Omnia Metals Group 12% 62% 83% 57% 0.275 $8,300,687
GRE Greentechmetals 11% 30% -38% -39% 0.15 $4,520,600
RBX Resource B 11% 50% 25% -23% 0.15 $8,560,475
MIN Mineral Resources. 11% 0% 46% 84% 88.27 $17,122,031,772
ASN Anson Resources Ltd 11% -13% -30% 68% 0.21 $247,661,386
DEV Devex Resources Ltd 10% -5% -31% -29% 0.275 $105,671,894
SYA Sayona Mining Ltd 10% 1% -8% 90% 0.2475 $2,043,375,359
EMT Emetals Limited 10% 0% -48% -35% 0.011 $8,500,000
VTM Victory Metals Ltd 10% 10% -15% 42% 0.22 $11,807,113
SBR Sabre Resources 9% -13% -42% -13% 0.035 $10,784,989
VRC Volt Resources Ltd 9% -8% -48% 0% 0.012 $47,273,087
NWM Norwest Minerals 9% -43% -40% -36% 0.036 $7,773,759
CHN Chalice Mining Ltd 8% 2% 50% -13% 6.54 $2,518,431,728
AKE Allkem Limited 8% -7% -14% 21% 12.1 $7,824,064,715
LML Lincoln Minerals 8% -32% 279% 279% 0.026 $14,949,576
ENV Enova Mining Limited 8% 8% -19% -35% 0.013 $5,082,081
CXO Core Lithium 8% -6% -33% 6% 1.005 $1,892,117,130
MRC Mineral Commodities 8% 3% -15% -46% 0.067 $44,944,636
LPI Lithium Pwr Int Ltd 8% -17% -46% -45% 0.35 $217,038,658
WML Woomera Mining Ltd 8% -13% -17% -17% 0.014 $12,430,096
S32 South32 Limited 8% 0% 11% -11% 4.615 $21,572,748,837
BHP BHP Group Limited 8% -1% 29% 8% 47.895 $245,135,056,705
NTU Northern Min Ltd 7% 13% 10% -10% 0.045 $233,571,712
RNU Renascor Res Ltd 7% -12% 25% -20% 0.225 $571,366,687
GL1 Globallith 7% -24% -14% -1% 1.625 $345,340,675
LRS Latin Resources Ltd 7% 2% 2% 201% 0.1175 $264,198,590
QPM Queensland Pacific 7% 3% -29% -32% 0.1025 $183,366,532
ALY Alchemy Resource Ltd 7% -6% -24% 23% 0.016 $18,849,220
RVT Richmond Vanadium 7% 0% 0% 0% 0.4 $34,914,161
EFE Eastern Resources 6% 0% -41% -65% 0.017 $21,113,090
LLI Loyal Lithium Ltd 6% -29% -4% 40% 0.35 $20,821,500
MOH Moho Resources 6% -14% -45% -59% 0.018 $3,530,257
IGO IGO Limited 6% -5% 5% 12% 13.65 $10,450,295,819
LKE Lake Resources 6% -18% -49% -38% 0.6175 $915,864,333
GED Golden Deeps 6% -14% -37% -5% 0.0095 $10,397,040
WMG Western Mines 6% 19% 36% 12% 0.19 $7,796,175
BUR Burleyminerals 6% -3% 138% 138% 0.285 $16,888,947
GSM Golden State Mining 5% -15% -28% -51% 0.039 $4,329,526
WC8 Wildcat Resources 5% 2% 9% -2% 0.0295 $19,198,659
QXR Qx Resources Limited 5% -13% 38% -15% 0.04 $36,771,355
PGM Platina Resources 5% -9% -19% -59% 0.021 $11,840,426
A11 Atlantic Lithium 5% -9% 0% 0% 0.665 $399,789,496
SYR Syrah Resources 5% -8% 10% 40% 1.8475 $1,247,401,985
TON Triton Min Ltd 5% -18% 23% 19% 0.0345 $47,014,662
NIC Nickel Industries 4% -7% 12% -38% 1.0025 $3,084,742,418
OCN Oceanalithiumlimited 4% -1% -39% 0% 0.36 $13,109,040
1AE Auroraenergymetals 4% -20% -59% 0% 0.12 $14,730,502
ILU Iluka Resources 4% -4% 8% 2% 10.65 $4,519,140,122
GBR Greatbould Resources 4% 16% -5% -31% 0.1 $41,803,601
AX8 Accelerate Resources 4% -4% -26% -42% 0.026 $9,817,646
S2R S2 Resources 4% -13% 0% -22% 0.14 $55,355,605
RDT Red Dirt Metals Ltd 4% -14% -29% -21% 0.42 $177,962,996
LOT Lotus Resources Ltd 4% -6% -24% -18% 0.2125 $279,350,331
GLN Galan Lithium Ltd 4% 5% -6% -15% 1.16 $359,091,024
WR1 Winsome Resources 4% -5% 692% 480% 2.06 $323,572,849
LPM Lithium Plus 4% -23% -50% 0% 0.295 $15,447,701
KOB Kobaresourceslimited 3% -14% -12% 0% 0.15 $11,400,000
EVG Evion Group NL 3% -13% -30% -45% 0.061 $17,043,170
PLL Piedmont Lithium Inc 3% -6% 6% 15% 0.92 $413,303,945
MRR Minrex Resources Ltd 3% -14% -35% -47% 0.031 $34,715,760
EVR Ev Resources Ltd 3% 3% -47% -70% 0.0155 $14,039,761
L1M Lightning Minerals 3% -18% 0% 0% 0.155 $5,963,400
LRV Larvottoresources 3% -3% -24% -8% 0.17 $11,433,303
LLL Leolithiumlimited 3% -14% -13% 0% 0.52 $522,928,163
FRB Firebird Metals 3% 3% -5% -38% 0.175 $12,422,866
POS Poseidon Nick Ltd 3% -5% -29% -59% 0.037 $125,949,143
LEL Lithenergy 3% -20% -23% -19% 0.74 $44,210,250
PGD Peregrine Gold 2% -10% -32% -15% 0.44 $17,060,511
PVW PVW Res Ltd 2% -22% -67% -84% 0.09 $8,861,724
DVP Develop Global Ltd 2% -10% 40% -8% 3.17 $540,236,418
JRL Jindalee Resources 2% 6% 2% -16% 2.505 $151,480,470
CAI Calidus Resources 2% -11% -59% -70% 0.235 $107,689,956
ETM Energy Transition 2% -4% -25% -17% 0.048 $66,431,457
PMT Patriotbatterymetals 2% -18% 0% 0% 1.5 $358,168,409
REE Rarex Limited 2% -20% -14% -51% 0.051 $29,548,715
EV1 Evolutionenergy 2% -16% -4% -43% 0.27 $39,915,625
AZS Azure Minerals 2% -6% 51% -20% 0.295 $98,582,880
PEK Peak Rare Earths Ltd 2% 23% 23% -15% 0.605 $128,112,144
AAJ Aruma Resources Ltd 2% -15% -2% -26% 0.064 $10,359,459
EUR European Lithium Ltd 1% -16% -17% -31% 0.069 $99,997,503
SCN Scorpion Minerals 1% -13% -16% -1% 0.07 $24,199,433
WIN Widgienickellimited 1% 6% 23% -1% 0.35 $90,364,618
MNS Magnis Energy Tech 1% -13% -29% -17% 0.355 $339,616,019
NVX Novonix Limited 1% -16% -26% -70% 1.52 $744,765,172
PNN Power Minerals Ltd 1% -18% -24% 0% 0.41 $29,982,025
TVN Tivan Limited 1% 1% -26% 35% 0.085 $118,015,549
BM8 Battery Age Minerals 1% 4% -3% 13% 0.485 $35,624,718
ARL Ardea Resources Ltd 1% -23% -34% -19% 0.555 $96,899,066
AGY Argosy Minerals Ltd 1% 1% 66% 120% 0.705 $1,025,217,474
MCR Mincor Resources NL 1% -21% -41% -45% 1.2425 $667,229,874
VUL Vulcan Energy 0% -13% -22% -31% 6.22 $900,773,690
VIA Viagold Rare Earth 0% 0% 0% 0% 2 $166,624,808
INF Infinity Lithium 0% -24% -42% -29% 0.11 $53,198,091
NWC New World Resources 0% -19% 57% -19% 0.047 $96,852,634
GSR Greenstone Resources 0% -24% -66% -41% 0.022 $27,776,616
HNR Hannans Ltd 0% -29% -43% -64% 0.012 $35,419,863
CZN Corazon Ltd 0% -14% -10% -42% 0.019 $11,596,281
AVZ AVZ Minerals Ltd 0% 0% 0% -15% 0.78 $2,752,409,203
RLC Reedy Lagoon Corp. 0% -11% -50% -68% 0.008 $4,533,757
HXG Hexagon Energy 0% -18% -13% -75% 0.014 $7,180,823
QEM QEM Limited 0% -9% -17% 21% 0.2 $26,352,996
ADV Ardiden Ltd 0% 0% 0% -42% 0.007 $18,818,347
SRI Sipa Resources Ltd 0% -13% -43% -50% 0.027 $6,160,270
BSX Blackstone Ltd 0% -6% -26% -68% 0.145 $68,640,845
AVL Aust Vanadium Ltd 0% -3% -26% -16% 0.032 $139,636,007
BRB Breaker Res NL 0% -5% 31% 20% 0.275 $89,881,227
FFX Firefinch Ltd 0% 0% 0% -17% 0.2 $236,569,315
ATM Aneka Tambang 0% 0% -4% 0% 1.1 $1,434,014
1MC Morella Corporation 0% -21% -56% -54% 0.011 $67,084,385
SLZ Sultan Resources Ltd 0% -19% -48% -68% 0.052 $4,330,788
MQR Marquee Resource Ltd 0% -12% -55% -71% 0.03 $9,489,018
BYH Bryah Resources Ltd 0% -5% -25% -56% 0.021 $5,906,323
DTM Dart Mining NL 0% -6% -56% -46% 0.046 $7,158,546
EMS Eastern Metals 0% -14% -37% -67% 0.069 $2,656,380
CTN Catalina Resources 0% -40% -25% -65% 0.006 $8,669,408
KZR Kalamazoo Resources 0% -17% -26% -41% 0.17 $24,720,197
CMO Cosmometalslimited 0% -7% -14% -19% 0.125 $3,188,750
RR1 Reach Resources Ltd 0% 0% -17% -38% 0.005 $11,887,753
KAI Kairos Minerals Ltd 0% -5% -32% -14% 0.019 $37,317,776
ODE Odessa Minerals Ltd 0% -25% -23% -8% 0.012 $8,483,461
XTC Xantippe Res Ltd 0% 20% -33% -14% 0.006 $52,900,498
ABX ABX Group Limited 0% -7% -21% 0% 0.13 $29,066,806
RR1 Reach Resources Ltd 0% 0% -17% -38% 0.005 $11,887,753
DM1 Desert Metals 0% -20% -57% -54% 0.16 $11,590,572
M24 Mamba Exploration 0% -39% 25% -22% 0.125 $7,622,917
VHM Vhmlimited 0% -8% 0% 0% 0.88 $125,531,334
OZL OZ Minerals 0% 0% 7% 5% 27.94 $9,394,447,048
NVA Nova Minerals Ltd -1% -16% -41% -10% 0.53 $111,771,581
BC8 Black Cat Syndicate -1% -5% 5% -31% 0.385 $106,460,781
SGQ St George Min Ltd -1% -9% 165% 64% 0.069 $58,616,988
VR8 Vanadium Resources -1% -19% -13% -11% 0.067 $31,971,217
ESS Essential Metals Ltd -2% -6% -1% 39% 0.4875 $132,445,514
PAT Patriot Lithium -2% -26% 0% 0% 0.32 $19,404,001
PLS Pilbara Min Ltd -2% -13% 4% 47% 4.135 $12,291,855,428
ASM Ausstratmaterials -2% -36% -50% -81% 1.57 $273,396,572
GAL Galileo Mining Ltd -2% -13% -30% 244% 0.74 $148,218,695
CTM Centaurus Metals Ltd -2% -17% -14% -26% 0.96 $410,022,022
VML Vital Metals Limited -2% 2% -38% -50% 0.0235 $122,041,444
BUX Buxton Resources Ltd -2% 19% 91% 124% 0.22 $31,896,681
ZNC Zenith Minerals Ltd -2% -6% -30% -36% 0.22 $77,375,330
EGR Ecograf Limited -2% -18% -53% -65% 0.205 $96,821,694
AR3 Austrare -2% -33% -41% -74% 0.205 $19,040,310
EMC Everest Metals Corp -2% -10% -18% -48% 0.082 $8,727,515
STK Strickland Metals -3% -3% -26% -36% 0.039 $60,642,222
LIT Lithium Australia -3% -20% -39% -63% 0.039 $47,626,475
CNB Carnaby Resource Ltd -3% -4% 31% -32% 1.085 $161,461,592
PAM Pan Asia Metals -3% -3% -16% -32% 0.36 $52,868,012
JRV Jervois Global Ltd -3% -28% -64% -75% 0.18 $384,663,278
STM Sunstone Metals Ltd -3% 10% -21% -56% 0.034 $89,095,178
AKN Auking Mining Ltd -3% -36% -23% -61% 0.067 $11,418,535
MMC Mitremining -3% -4% 136% 51% 0.295 $10,615,605
AZL Arizona Lithium Ltd -3% -17% -32% -59% 0.058 $144,107,774
INR Ioneer Ltd -3% -17% -44% -32% 0.3575 $797,368,541
CMX Chemxmaterials -3% -3% -26% -22% 0.14 $7,092,558
LPD Lepidico Ltd -4% -10% -55% -58% 0.0135 $99,291,032
PAN Panoramic Resources -4% -21% -37% -53% 0.135 $276,873,391
ITM Itech Minerals Ltd -4% -22% -17% -41% 0.26 $30,402,726
OMH OM Holdings Limited -4% -11% 22% -19% 0.755 $565,046,853
NC1 Nicoresourceslimited -4% -7% -34% -27% 0.5275 $45,940,814
BOA Boadicea Resources -4% -14% -28% -54% 0.09 $7,029,281
IXR Ionic Rare Earths -4% -4% -22% -40% 0.0335 $130,221,462
VMS Venture Minerals -4% -12% -15% -44% 0.022 $42,400,982
CNJ Conico Ltd -5% -16% -76% -12% 0.0105 $14,549,681
IPX Iperionx Limited -5% 1% -2% -16% 0.84 $146,508,648
BNR Bulletin Res Ltd -5% -13% -25% -30% 0.105 $29,359,110
WCN White Cliff Min Ltd -5% -13% -60% -60% 0.0105 $8,232,571
CDT Castle Minerals -5% -9% -28% -59% 0.021 $21,988,846
MLX Metals X Limited -5% -20% 0% -53% 0.3 $267,643,490
RAS Ragusa Minerals Ltd -5% -14% -57% 79% 0.095 $13,974,681
BKT Black Rock Mining -5% -17% 2% -41% 0.1375 $137,618,417
AS2 Askarimetalslimited -5% -16% 59% 44% 0.54 $26,481,178
LNR Lanthanein Resources -5% -18% -69% -31% 0.018 $20,188,360
LNR Lanthanein Resources -5% -18% -69% -31% 0.018 $20,188,360
CAE Cannindah Resources -5% -26% -22% -49% 0.175 $98,346,492
IDA Indiana Resources -5% -12% -25% -16% 0.052 $27,065,060
LMG Latrobe Magnesium -5% -9% -17% -25% 0.069 $113,629,976
ADD Adavale Resource Ltd -6% -15% -51% -50% 0.017 $8,831,944
TAR Taruga Minerals -6% -11% -43% -48% 0.017 $11,296,429
ARU Arafura Rare Earths -6% -7% 66% 183% 0.565 $1,172,000,062
CLA Celsius Resource Ltd -6% -6% 23% -27% 0.016 $29,715,265
AQD Ausquest Limited -6% -6% -6% -6% 0.016 $13,202,388
CRR Critical Resources -6% -16% 10% -40% 0.046 $74,953,479
AM7 Arcadia Minerals -6% 5% -13% 2% 0.225 $10,507,026
RAG Ragnar Metals Ltd -6% -6% -61% -44% 0.015 $5,687,773
JMS Jupiter Mines. -6% -2% 15% -4% 0.225 $450,567,938
BCA Black Canyon Limited -6% -12% -15% -15% 0.22 $10,201,663
TEM Tempest Minerals -7% -20% -49% -7% 0.0215 $11,649,566
TMT Technology Metals -7% -11% -20% -22% 0.28 $58,750,876
FTL Firetail Resources -7% 0% -43% 0% 0.14 $9,100,000
COB Cobalt Blue Ltd -7% -28% -51% -28% 0.39 $144,322,437
MAN Mandrake Res Ltd -7% -4% 14% 6% 0.05 $31,109,516
PUR Pursuit Minerals -7% 9% 92% 19% 0.025 $28,563,746
KNI Kunikolimited -7% -21% -45% -36% 0.435 $22,002,228
ESR Estrella Res Ltd -8% -20% -14% -57% 0.012 $22,253,578
IMI Infinitymining -8% -20% -10% 6% 0.18 $13,383,706
IG6 Internationalgraphit -8% -4% -28% 0% 0.24 $21,117,146
OD6 Od6Metalsltd -8% -26% 33% 0% 0.24 $13,478,797
ARR American Rare Earths -8% -13% 0% -43% 0.23 $100,435,680
LYC Lynas Rare Earths -8% -21% -13% -32% 7.325 $6,742,792,435
PBL Parabellumresources -8% -24% -7% 89% 0.34 $18,605,650
LEG Legend Mining -8% -19% 19% -32% 0.044 $121,225,972
FGR First Graphene Ltd -9% -2% -23% -42% 0.096 $55,436,168
AML Aeon Metals Ltd. -9% -25% -30% -58% 0.021 $23,024,413
KOR Korab Resources -9% -9% -25% -53% 0.021 $7,708,050
AOU Auroch Minerals Ltd -9% -19% -19% -53% 0.052 $23,103,637
CWX Carawine Resources -9% -21% -9% -57% 0.091 $17,713,572
KGD Kula Gold Limited -9% -26% -17% -53% 0.02 $7,224,238
RGL Riversgold -9% -23% -44% -18% 0.02 $17,963,887
THR Thor Energy PLC -9% -17% -50% -64% 0.005 $7,378,064
AZI Altamin Limited -9% -8% -26% 3% 0.07 $28,203,606
MEK Meeka Metals Limited -9% -29% -39% -22% 0.04 $43,771,966
DRE Dreadnought Resources Ltd -9% -30% -46% 75% 0.07 $250,323,345
BMM Balkanminingandmin -9% -27% 86% 28% 0.345 $15,446,345
NMT Neometals Ltd -10% -8% -48% -51% 0.725 $414,555,882
MRD Mount Ridley Mines -10% -10% -25% -53% 0.0045 $31,139,531
TLG Talga Group Ltd -10% -14% 6% 4% 1.485 $545,603,271
IPT Impact Minerals -10% -14% 13% -29% 0.009 $22,332,335
RMX Red Mount Min Ltd -10% -25% -25% -44% 0.0045 $10,223,330
MLS Metals Australia -10% -13% -10% -49% 0.045 $27,923,665
LSR Lodestar Minerals -10% -10% -36% -65% 0.0045 $6,953,749
CZL Cons Zinc Ltd -10% 0% -28% -36% 0.018 $9,405,977
SUM Summitminerals -10% -10% -29% 0% 0.135 $3,214,582
KTA Krakatoa Resources -10% -13% -44% -13% 0.035 $12,754,267
AUZ Australian Mines Ltd -10% -30% -51% -77% 0.039 $21,714,697
FRS Forrestaniaresources -11% -22% -29% -68% 0.125 $7,002,500
GRL Godolphin Resources -11% -30% -29% -57% 0.063 $7,516,460
KFM Kingfisher Mining -11% -47% -50% 23% 0.27 $14,771,625
A8G Australasian Metals -12% -19% -44% -68% 0.15 $6,175,574
EMN Euromanganese -13% -20% -20% -38% 0.24 $64,918,944
NKL Nickelxltd -14% -14% -53% -56% 0.064 $5,184,833
TKL Traka Resources -14% -14% -14% -45% 0.006 $4,336,647
G88 Golden Mile Res Ltd -14% -18% -49% -69% 0.017429 $3,565,877
PTR Petratherm Ltd -15% -16% -10% 49% 0.061 $13,934,571
WC1 Westcobarmetals -16% -19% -33% -7% 0.13 $13,389,480
AVW Avira Resources Ltd -17% -17% -38% -50% 0.0025 $5,334,475
CLZ Classic Min Ltd -17% -69% -84% -98% 0.0025 $2,532,188
GCM Green Critical Min -18% -22% -2% 13% 0.014 $15,783,658
HRE Heavy Rare Earths -18% -18% -39% 0% 0.115 $6,841,112
PNT Panthermetalsltd -19% -33% -28% -46% 0.13 $3,997,500
PRL Province Resources -21% -25% -56% -60% 0.042 $63,800,630
M2R Miramar -27% -36% -55% -68% 0.052 $3,675,451

 

WEEKLY SMALL CAP STANDOUTS

SUREFIRE RESOURCES (ASX:SRN)

SRN says a new exploration target of 682Mt to 1190Mt @ 0.2% to 0.43% vanadium propels its Victory Bore project in WA to “world class status”.

When added to the current 321Mt @ 0.39% resource, the exploration target boosts the project’s potential to 1003Mt-1,511Mt @ 0.2% to 0.43% V205, “making it world class and potentially one of the largest vanadium resources in the world”.

For reference, advanced vanadium stocks AVL (ASX:AVL)Vanadium Resources (ASX:VR8), and Technology Metals (ASX:TMT) have respective resources of 239Mt at 0.73%, 680Mt at 0.70%, and 153.7Mt at 0.8%.

An update on the PFS – a look at the economics of building a project – is due in the next few weeks, SRN says.

“The extensive linear continuity of the Victory Bore Titanomagnetite and high vanadium grades where we have drilled provide a compelling prediction of the total scale of this vanadium project,” managing director Paul Burton says.

“When proven, it would place this project as one the world’s largest undeveloped vanadium resources and given its good location only 400km from port and proximal to existing infrastructure means it is a hugely valuable asset for Surefire shareholders.”

 

ALDORO RESOURCES (ASX:ARN)

The WA explorer has a portfolio of battery metals/critical minerals projects covering lithium, nickel and ultra-rare rubidium.

The stock has crept higher on no news over the past week or so, attracting a ‘please explain’ from the ASX.

In response the company says volatility coincided with exploration drilling at the Narndee nickel-PGE project.

“Assays for Narndee have been expedited, with resulted expected in the next two weeks,” it says.

“As announced on 31 October 2022, the company has previously disclosed its intention to secure a suitable JV partner or offtake partner for its Niobe [lithium rubidium] project.

“Preliminary discussions/due diligence is currently underway however there have been no further developments at this stage.”

ARN recently released a maiden resource for the ‘Niobe’ lithium-rubidium project of 4.6Mt @ 0.17% Rb2O and 0.07% Li2O, equivalent to 8,060t of Rb2O and 3,080t of Li2O.

Mineralisation remains ‘open’ at shallow depths.

A new drilling program is planned to grow the resource size and upgrade the classification.

It is also pushing ahead with development approvals and a scoping study, the first proper look at the economics of building a mine.


The post High Voltage: Tesla’s plan for a US$25k electric vehicle ‘could break the car market’ appeared first on Stockhead.

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