Searching for the top Canadian lithium stocks? These TSX-and TSXV-recorded stocks have seen the greatest year-to-date gains in 2023.
Last year was immense for lithium, as the battery metal set all-time highs for the second year straight. In any case, prices for lithium carbonate and, less significantly, lithium hydroxide have fallen such a long ways in 2023.
These decays have been driven by a blend of variables that have driven supply to outperform demand, including China finishing electric vehicle sponsorships and the nation being hit by a flood of Coronavirus diseases after it facilitated its zero-Coronavirus strategy.
“I truly do concede that prices descended quicker and farther than we naturally suspected likely … we were not anticipating that demand should withdraw however much it has, which was welcomed on by the serious Coronavirus hit China endured towards the finish of 2022,” Fastmarkets’ William Adams told the Effective money management News Organization during Q2. “The drop in price provoked destocking, which thus has exacerbated obvious demand than real demand.”
Albeit the market has been in an excess as of late, Adams accepts that will change as 2023 maneuvers forward. “The year is probably going to be an extended period of two parts — surplus the early piece of the principal half changing to snugness later in the final part,” he said.
For financial backers inspired by lithium, the Effective money management News Organization has made an outline of the top Canadian lithium stocks recorded on the TSX and TSXV. This rundown was made on May 1, 2023, utilizing TradingView’s stock screener, and all information was current around then. Just companies with market caps above C$10 million are incorporated.
1. Patriot Battery Metals (TSXV:PMET)
Year-to-date gain: 85.52 percent; market cap: C$1.16 billion; current share price: C$12.30
Patriot Battery Metals is an exploration and development organization that is dealing with propelling its Corvette lithium property, which has the CV5 lithium pegmatite focus, in Quebec’s James Straight district. The organization’s colder time of year 2023 drill program is centered around expanding the CV5 pegmatite at Corvette, and will cover something like 20,000 meters utilizing five drill rigs.
On January 18, Patriot shared measures from its 2022 exploration, revealing the most elevated grade lithium capture such a long ways at the CV5 pegmatite — 156.9 meters at 2.12 percent lithium oxide, including 25 meters at 5.04 percent and 5 meters at 6.36 percent. This news began up energy for the organization’s share price, which kept climbing through insight about the arrangement of Natacha Garout as CFO, another omnibus equity motivation plan, the expansion of Mélissa Desrochers to its board and more outcomes from 2022 penetrating.
Patriot hit its current year-to-date high of C$17.17 on February 6, when it reported that openings from its 2023 drill crusade expanded the CV5 pegmatite by no less than 400 meters to 2.6 kilometers. As of May 1, a progression of additional outcomes from the mission have now stretched out it to something like 3.7 kilometers.
In late February, Patriot shared that weighty fluid separation testing on center examples from CV5 shows that a thick media separation cycle can be utilized for the pegmatite body. The testing returned a normal spodumene concentrate grade of 5.98 percent at 77 percent recuperation.
Patriot intends to utilize assets from a C$50 million move through raising, which it finished in Spring, to subsidize its work at Corvette. On April 12, the organization gave a report on development of the CV5 pegmatite towards prefeasibility, including the moves it is making notwithstanding the drill crusade. It intends to have an underlying asset gauge for CV5 in late June.
2. Lithium Ionic (TSXV:LTH)
Year-to-date gain: 80.75 percent; market cap: C$265.43 million; current share price: C$2.91
Lithium Ionic is centered around procuring and solidifying lithium properties in the Aracuai lithium area in Minas Gerais, Brazil, to expand its lead Itinga project. Counting the acquisitions talked about beneath, the organization possesses more than 14,000 hectares of cases in the area.
Lithium Ionic has been proceeding with its procurement system in 2023. On January 25, the organization declared that its completely claimed auxiliary MGLIT Empreendimentos had gone into a limiting share buy consent to get up to a 100% equity premium in Vale Litio; as of now, it has gained 2.78 percent. Vale Litio possesses three lithium claims in the Aracuai lithium territory.
Another obtaining, reported on February 13, was of a 1,000 hectare mining guarantee in the Aracuai district, carrying its land position to roughly 7,700 hectares in the locale around then. The organization’s share price moved all through February to a pinnacle of C$2.89 on February 24.
On Walk 31, Lithium Ionic reported its 100% procurement of Neolith Minerals, which holds a 40 percent premium in the Salinas lithium project with the choice to get up to 85 percent. Salinas is situated around 100 kilometers north of Itinga and involves 5,713 hectares with “five lithium-rich spodumene-bearing pegmatites offshoot at surface.”
Since these acquisitions, Lithium Ionic’s news has been centered around exploration. On Walk 29, the organization shared that it had penetrated its best opening to date at the Bandeira property, which is essential for the Itanga project. It let examines out of a drill program at its Galvani claims on April 11, after which its share price started climbing again to top its past top at C$2.91 on May 1. The following day, Lithium Ionic started a 20,000 meter drill program that will test and expand the generally recognized pegmatites at the Salinas project.
3. Q2 Metals (TSXV:QTWO)
Year-to-date gain: 68.57 percent; market cap: C$44.72 million; current share price: C$0.59
Q2 Metals is an exploration organization zeroed in on propelling its Mia lithium property in James Straight, Quebec. It additionally has the Heavenly lithium property north of Mia, which it gained in Spring, as well as the Enormous Slope and Titan gold undertakings in Queensland, Australia.
Q2’s share price started climbing right off the bat in the year, bouncing from C$0.45 to C$0.62 on the January 23 arrangement of Neil McCallum as a chief and the organization’s VP of exploration. McCallum recognized and marked Patriot Battery Metals’ Corvette lithium property in 2016, which is situated in a similar locale as Q2’s lithium projects. After two days, the organization initiated a C$10 million confidential position funding.
The organization’s share price kept moving during the next weeks to hit a year-to-date high of C$1.05 on February 6.
On Walk 2, Q2 shared its exploration plans for the Mia property in 2023 and declared its securing of the Heavenly lithium property, which is only 6 kilometers north of Mia. Toward the beginning of April, Q2 started the Stage 1 piece of its 2023 exploration crusade at the Mia project, which incorporates an IP-resistivity geophysical overview. The organization finished Stage 1 on April 26 and plans to start Stage 2 — ground planning and testing — after May 20.
4. Brunswick Exploration (TSXV:BRW)
Year-to-date gain: 68.09 percent; market cap: C$136.77 million; current share price: C$0.79
Brunswick Exploration is a Quebec-put-together wayfarer centered on lithium pegmatite projects. The organization has a huge arrangement of exploration projects all through Focal, Eastern and Atlantic Canada, a lot of which was worked through Brunswick recognizing and gaining properties and land bundles all through 2022 and 2023.
For instance, in January, the organization marked the Trans-Hudson and Lake Athabasca projects in Saskatchewan and applied for three mineral exploration licenses in Manitoba. That very month, Brunswick marked 198 cases to make the Illusion project in Quebec’s Eeyou-Istchee James Sound district.
Brunswick finished the month with a choice understanding for a 100% interest in Searchlight Assets’ (TSXV:SCLT,OTCQB:SCLTF) Hanson Lake project in Saskatchewan. Prospecting and digging at the undertaking is arranged in Q2.
This news drove Brunswick’s all’s share price higher, and it proceeded upwards when the organization shared that it was remembered for the current year’s TSX Adventure 50 rundown. Over the next week, its share price moved to a year-to-date high of C$1.10 on February 28.
Brunswick’s later news has zeroed in generally on exploration. On Walk 20, the organization started an exploration program at its Anatacua West venture in Quebec; the penetrating piece closed in April and converged numerous spodumene-bearing pegmatites. Brunswick has now started investigating its Hearst project in Ontario, including boring and stripping, and is looking towards penetrating Hanson Lake in the late spring.
5. Quantum Minerals (TSXV:QMC)
Year-to-date gain: 66.67 percent; market cap: C$18.34 million; current share price: C$0.20
Quantum Minerals is a lithium, gold and copper organization with three tasks in Manitoba, Canada. Quantum’s lead resource is its Irgon lithium mine task, which the organization expects will be arriving at production first mine. It additionally has the Rough Lake and Namew Lake gold-copper projects.
On February 22, Quantum got a work permit for Irgon from Manitoba’s administration. As per the delivery, the organization will first “do a field planning and testing program to expand the Irgon Embankment past the known 800m strike length.” From that point onward, it intends to begin a channel inspecting program.
Quantum’s share price soar on the insight about its work permit, moving from C$0.14 the day preceding the delivery to C$0.24 the day after it emerged. It stayed raised throughout the next weeks and at last hit a year-to-date high of C$0.26 on Walk 21.
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