2023 is an exciting time for Canadian lithium stocks. With increased demand in electric vehicle batteries and grid energy storage, lithium prices are projected to climb and create new growth opportunities. With this in mind, here are the top 5 Canadian lithium stocks you should be watching in 2023:
1. Critical Elements Corporation (TSXV: CRE): Critical Elements is the biggest mover on the list and has already seen a strong rise in 2023. This Canadian exploration and development company focuses on rare metals and has many lithium prospects located in the James Bay area of Quebec.
2. Neo Lithium Corp (TSXV: NLC): The second-largest lithium-focused Canadian company, Neo Lithium, focuses on its 3Q project located in Salta Province, Argentina. The company has potential to become one of the world’s lowest-cost lithium producers when its project reaches production by 2022.
3. Wealth Minerals Ltd (TSXV: WML): This Canadian lithium producer owns a number of lithium assets around the world, including anestimated 7,500 hectares in Chile. Wealth Minerals is also working on exploration drilling, resource expansion and environmental commitments at its Atacama project.
4. Bear Creek Mining (TSXV: BCM): Bear Creek Mining is a resource exploration and evaluation company with several lithium properties in Peru. While the company is yet to produce lithium for commercial use, its advanced drilling programs point to potential growth in the coming years.
5. Lithium X Energy Corp (TSXV: LIX): Lithium X also focuses on resource exploration and evaluation, with assets located in Argentina. Lithium X is committing to both exploration and development and longterm contracts with carmakers, meaning they could have a bright future in the lithium industry.
Investors should always do research before investing in any stock, and lithium stocks are no different. With demand expected to increase in the coming years, these five companies could create some strong returns for investors.