Best 3 ASX Lithium Stocks
Written by
Varun Ratra
Lithium sector momentum continued strengthening, as production growth, stronger pricing and expansion plans supported improving company performance.
Best ASX Lithium Stocks
PLS Group Ltd (ASX: PLS)
Mineral Resources Ltd (ASX: MIN)
Liontown Ltd (ASX: LTR)
PLS Group Ltd (ASX: PLS)
PLS Group Ltd (ASX: PLS), on 24 April 2026, released its March 2026 Quarterly Activities Report with record spodumene production of 232.4kt from the Pilgangoora Operation. Revenue increased to $567M as realised pricing improved, while FOB unit operating cost declined to $520/t due to higher production and increased capitalised waste activity. Cash balance rose to $1,455M during the Quarter including the US$100M Canmax prepayment.
Sales totalled 195.7kt at an average realised price of US$1,867/t CIF China on an SC5.2 basis. During the Quarter, PLS signed a multi-year offtake agreement with Canmax Technologies for 150ktpa supply beginning in CY26 with a US$1,000/t floor price on an SC6 basis.
On 19 February 2026, the company approved the Ngungaju Plant restart with first ore planned for July 2026. The P2000 and Colina feasibility studies also continuous developing in line with planned timelines.
Mineral Resources Ltd (ASX: MIN)
Mineral Resources Ltd (ASX: MIN), on 26 May 2026, accepted a new flotation plant and underground mining project at the Mt Marion lithium mine with partner Ganfeng. The project will cost about $490M over FY27 and FY28. It is expected to lift lithium recovery, raise production capacity to 600ktpa SC6 and extend the mine’s operating life. Construction is planned to start in Q1 FY27 with commissioning expected in the second half of FY28.
On 18 May 2026, the company revealed the resumption of the Bald Hill lithium mine operation located in Western Australia due to better lithium price movements. Mining and crushing activities are scheduled to begin in June whereas first spodumene production is expected from July. The operation is planned to reach full capacity in Q2 FY27.
Earlier, on 1 May 2026, MIN signed final contracts with POSCO Holdings for a 30% investment in its lithium business joint venture covering the Wodgina and Mt Marion mines. The transaction is probable to complete in the first half of FY27.
Liontown Ltd (ASX: LTR)
Liontown Ltd shared its Quarterly Activities Report dated 30 April 2026, covering the quarter ended 31 March 2026. In its best performing quarter to date, LTR made a profit of $33M in net cash flow and $55 million in operating cash flow. The cash balance at quarter end was $424 million with additional April cash receipts of $64 million from a March shipment.
During the quarter, Liontown achieved the 1.5Mtpa annualised underground mining run-rate ahead of schedule. The company produced 96kdmt of spodumene concentrate and sold 84kdmt across five shipments at an average grade of 5.1% Li2O. The average realised price reached US$1,845/dmt SC6e.
The company also reduced liabilities by $482 million after conversion of LG Energy Solution convertible notes. Liontown finished the quarter in a net cash position of $61 million while maintaining FY2026 guidance.
Liontown has started early works for the Kathleen Valley expansion project including procurement of a new ball mill and underground development activities. Final investment decision for the expansion is targeted by the end of Q1 FY2027.
(Source: Company Report)
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