Lithium is becoming a leading power source in the world, attracting attention from international investors. Canada is well-known for its large deposits of the mineral, making it one of the best countries for investors to purchase lithium stocks. In 2023, the stock market is expected to be lucrative for those looking to add lithium stocks to their portfolio. Here are the top 5 Canadian Lithium stocks that are likely to provide potential investors with positive returns in 2023.
1. Livent Corporation ( LTHM ) – Livent is a leading manufacturer of advanced lithium compounds and performance products. The company has operations in 11 countries and customers in over 50 countries across the world. Livent is in the process of ramping up its production capacity and increasing its market share. The company should benefit in 2023 from continuing cost reductions and new lithium production in both Canada and the US.
2. Nemaska Lithium Inc. ( NMX ) – Nemaska Lithium Inc. is a Canadian-based lithium exploration and development company. It was formed in 2020 to develop the Nemaska Lithium Mine project located in the James Bay region of Quebec. This project is estimated to contain around 1.2 million tonnes of lithium reserves, making it one of the largest in the world. The company plans to start production in early 2023, and investors should benefit from its potential price appreciation once the mine is in operation.
3. Granada Gold Mine Inc. ( GGM ) – Granada Gold Mine is a Canadian public mining and exploration company involved in two lithium projects in Canada. Its Wells lithium project is close to production and is expected to become a major supplier of lithium to the auto industry. Its White Mountain lithium project is still in the exploration phase, but if it succeeds, it could provide even more lithium to the market. Granada Gold Mine should be poised to benefit from rising lithium prices in 2023.
4. American Lithium Corp. ( LIACF ) – American Lithium Corp. is a lithium exploration and development company that has been actively exploring new deposits of the mineral in Nevada, Utah, and Arizona. The company has a number of properties that have the potential to become viable sources of lithium. In 2023, American Lithium Corp. should benefit from further exploration of its properties and the potential development of new sources of lithium.
5. Lithium Americas Corp. ( LAC ) – Lithium Americas Corp. is a Canadian-based international lithium resource company. It has two strategic projects Nevada Lithium-Boron Project in Nevada and Cauchari-Olaroz Lithium Brine Project in Argentina. Both projects require further development for production to begin, but they have the potential to become major sources of lithium for the global market. In 2023, the company should benefit from the increasing demand for lithium.
These are the top 5 Canadian lithium stocks that have the potential to provide investors with positive returns in 2023. Investors should do their own research and understand the risks before investing in any of these companies. With the lithium market expected to grow in 2023, these Canadian lithium stocks could reward investors who take the opportunity to invest in them.
“Unlock The Potential: Discover the Top 5 Canadian Lithium Stocks of 2023
