Highlights:
- ASX All Ordinaries Index tracks the 500 largest companies listed on the Australian Securities Exchange (ASX).
- On 03 March 2023, under the quarterly rebalancing of the S&P/ASX Indices, the 'All Ords' Index was also reshuffled.
- Fifty-six companies were added, and 48 companies were removed from the Index.
The ASX All Ordinaries Index was reshuffled on 03 March 2023 under the quarterly rebalancing of the S&P/ASX Indices. 56 companies were added, while 41 companies were removed from the Index.
Popularly known as the 'All Ords' Index, it is designed to track the 500 largest companies listed on the Australian Securities Exchange (ASX). The Index does not consider liquidity as an inclusion criterion.
Mining is the leading industry in Australia, and lithium is a key element in the energy storage segment. Here are five lithium stocks that will be part of the All Ords index effective from 20 March.
Anson Resources Ltd (ASX:ASN) is a junior mineral resources company which explores and develops mineral resource projects in demand-driven commodities. Following the announcement of its inclusion in the ASX Ordinaries Index, ASN stock jumped AU$4.999% and closed at AU$0.210 on Monday, 06 March 2022.
There was another update from the company on Monday, where it announced the discovery of an artesian flow of brine at the Green River Project from depth to surface, which suggests no need for pumping and a positive ESG impact for the company's Paradox Basin lithium projects. The Green River Lithium Project is also found to be structurally similar to its Paradox Basin project. This update of the highly positive geological feature at its lithium project pushed ASN stock up.
Atlantic Lithium Ltd (ASX:A11) is a lithium exploration and development company having projects and licenses in Ghana and Côte d'Ivoire in Africa. The company was listed on ASX in September 2022. On 06 March 2023, it had a market capitalisation of AU$405.84 million.
As per the company's quarterly report on 30 January 2023, its flagship project, Ewoyaa, in Ghana, is on track to become Ghana's first lithium-producing mine. Its pre-feasibility study indicated a Life of Mine revenue of more than US$4.84 billion by producing spodumene concentrate. On Monday, the stock closed at AU$0.660 after a 1.492% decline.
Latin Resources Ltd (ASX:LRS) is a mineral exploration company having projects in Australia and South America. It is focused on developing mineral projects of those commodities that help in Net Zero emissions. From its Salinas Lithium project in Brazil and Catamarca Lithium Project in Argentina, it aims to become a key lithium player in the world. LRS stock was up 4.347% to AU$0.120 on 06 March 2023 following its inclusion in the All Ords index.
Lithium Power International Ltd (ASX:LPI) stock fell 2.816% to AU$0.345 on Monday, 06 March 2023. Listed in June 2016 on ASX, the company had AU$223.32 million of market capitalisation on 06 March. This is a pure-play lithium company with projects in regions in South America and Western Australia. In December 2022, it completed ownership consolidation of 100% of the Maricunga project, which means ease and streamlining of decision-making for the project as well as the possibility of an improved return to shareholders.
Red Dirt Metals Ltd (ASX:RDT) stock jumped 1.265% on Monday and closed at AU$0.40. Last week, it announced updates on the Yinnetharra Lithium project. It acquired Yinnetharra in September last year (2022) and since then has completed 59 drill holes. Now with more than 3,000 samples in the lab, it expects to get the results within six to 12 weeks.
It is focused on starting production at its Mt Ida Lithium project at the soonest possible while continuing exploration at the Yinnetharra project. For 2023, it targets to get DSO approval for the Mt Ida project by the end of the December quarter.