4 ASX lithium shares that have rocketed more than 100% in 2022

ASX lithium shares have been getting their fair share of media attention in 2022.

And for good reason.

Lithium is a core ingredient in the lithium-ion batteries that power the world’s ever-growing fleet of EVs. Most grid storage batteries also require large amounts of lithium.

With the world transitioning away from fossil fuels, lithium prices have gone ballistic since July 2021, hitting all-time highs in March this year. Prices dipped briefly in July but the lightweight, highly conductive metal is back to within 0.5% of its record price at the time of writing.

As you’d expect, rocketing prices for the metal have been a boon to ASX lithium shares.

These four ASX lithium shares are up more than 100% in 2022

It has been a tough year for many ASX stocks.

Since the opening bell on 4 January, the All Ordinaries Index (ASX: XAO) is down 10.1%.

Yet here’s how these top ASX lithium shares have performed:

• Sayona Mining Ltd (ASX: SYA) shares are up 128.6%
• Anson Resources Ltd (ASX: ASN) shares are up 182.1%
• Core Lithium Ltd (ASX: CXO) shares are up 150%
• Latin Resources Ltd (ASX: LRS) shares are up 300%

What’s piquing ASX investor interest?

Investors have clearly been drawn to the rising lithium price alongside the regular media coverage ASX lithium shares have enjoyed this year.

In Core Lithium’s most recent quarterly update, the miner reported that its Finniss Lithium Project in the Northern Territory is on track to export its first lithium by the end of 2022.

The stock also likely received a boost from its admission into the S&P/ASX 200 Index (ASX: XJO). That will enable more fund managers, restricted to trading the biggest stocks, to add Core Lithium shares to their portfolios.

There’s been a steady stream of good news coming from Anson Resources as well.

In its latest release yesterday, the ASX lithium share updated the market on its Paradox Lithium project, located in the US state of Utah. Anson’s definitive feasibility study showed “outstanding economics” for the project. The company hopes to become a major supplier for the US EV market.

Anson shares closed up 42.4% yesterday on the news.

Sayona Mining also notched up its fair share of successes recently.

In August, the ASX lithium share reported it had restarted its North American Lithium (NAL) operations, located in the Canadian province of Quebec. Sayona is forecasting its first spodumene production from NAL in the first quarter of 2023.

Then there’s Latin Resources, the biggest year-to-date gainer among the ASX lithium shares.

In its most recent update on Wednesday, the miner reported that drilling had intersected more high-grade lithium at its Colina prospect, located in Brazil. Latin Resources stated it’s on schedule to deliver its maiden JORC resource in December.

The post 4 ASX lithium shares that have rocketed more than 100% in 2022 appeared first on The Motley Fool Australia.

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More reading

• 5 ASX 200 lithium shares with the lowest levels of debt
• Do Sayona Mining shares pay dividends?
• Why has the Core Lithium share price gained 13% in the past week?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• 4 ASX lithium shares hitting all-time highs on Thursday

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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