Galan Declines AU$240M Bid for Argentina Projects
“Lithium market conditions — particularly during the latter part of 2024 – led to growing producer restraint, both in China and elsewhere,” wrote Fastmarkets’ head of battery raw material analytics Paul Lusty. “Australian production cuts started in January 2024 but built momentum during the year, with several miners announcing production cuts, plans to place plants on care and maintenance and the suspension of planned expansions owing to market conditions.”
The global commodities firm is forecasting a shift in market dynamics, with analysts projecting a much tighter balance ahead. Initial estimates peg 2025’s surplus at 10,000 metric tons before the market moves into a deficit position in 2026.
How are Canadian lithium stocks performing against this backdrop?
The Investing News Network has created an overview of the top-performing Canadian lithium stocks. While companies on the TSX, TSXV and CSE were considered, only stocks on the TSXV made the list this time.
This list was created on March 25, 2025, using TradingView’s stock screener, and all data was current at that time. Only companies with market caps above C$10 million for the TSX and TSXV and above C$5 million for the CSE are included.
Year-to-date gain: 163.04 percent
Market cap: C$196.57 million
Share price: C$1.21
Exploration company Power Metals holds a portfolio of diversified assets in Ontario and Québec, Canada. The company’s flagship Case Lake project in Ontario hosts spodumene-bearing lithium-cesium-tantalum pegmatites.
In November 2024, Power Metals identified a new pegmatite zone at Case Lake through soil sampling. The samples from the zone, located north-northwest of its West Joe prospect, revealed elevated levels of cesium, tantalum, lithium and rubidium, which the company said “affirmed prospective drill targets” for its winter program.
On February 10, Power Metals announced the beginning of work associated with the maiden mineral resource estimate and preliminary economic assessment for Case Lake, which it plans to release in Q1 and Q2 of 2025 respectively. Days later on February 14, the company followed that announcement by releasing the final assays from its Phase 3 drilling at Case Lake, including “exceptional cesium oxide and tantalum intercepts” from the West Joe prospect.
The company’s share price rose in the weeks following the pair of announcements to reach a Q1 high of C$1.46 on February 25.
2. NOA Lithium Brines (TSXV:NOAL)
Year-to-date gain: 41.18 percent
Market cap: C$46.99 million
Share price: C$0.36
NOA is a lithium exploration and development company with three projects in Argentina’s Lithium Triangle region. The company’s flagship Rio Grande project and prospective Arizaro and Salinas Grandes land packages total more than 140,000 hectares.
In late January, NOA reported its completion of 28 vertical electrical sounding geophysics tests at the Rio Grande…
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