Top 5 Canadian Lithium Stocks (Updated January 2022)

1. Ultra Lithium (TSXV:ULT)

Year-to-date gain: 52.38 percent; current share price: C$0.32

Ultra Lithium (formerly Ultra Resources) is a lithium and gold company with projects and properties in Argentina, Canada and the US. The company is primarily focused on its projects that are in Argentina and Ontario, Canada, currently. Its two lithium properties in Argentina, Laguna Verde I and II, are lithium brines, while its Ontario lithium projects, Georgia Lake and Forgan Lake, are pegmatite deposits.

The company announced commencement of exploration drilling at its 100 percent owned Laguna Verde project ⁠— scheduled to be completed in Q2 2022 ⁠— and the signing of an exclusive strategic cooperation agreement with Zangge Mining. The partner company will aid in the exploration and development of the property with the goal of bringing it to production rapidly.

2. Argentina Lithium & Energy

Year-to-date gain: 462.5 percent; current share price: C$0.45

Argentina Lithium & Energy (TSXV:LIT) intends to serve rising demand from the battery sector by acquiring and advancing high-quality lithium projects in Argentina toward production. Its assets include the Incahuasi lithium project, which spans more than 25,000 hectares in the Incahuasi salar, and the Antofalla project, which covers about 9,000 hectares of mining claims in the Salar de Antofalla, plus an additional 5,380.5 hectares under option.

Argentina Lithium's Antofalla project is a separate asset from Arena's Antofalla project.

Company shares spiked to C$0.82 on October 18, four days after Argentina Lithium signed a definitive agreement to acquire the Rincon West and Pocitos properties; the deal was first announced at the end of September.

3. Frontier Lithium

Year-to-date gain: 445.21 percent; current share price: C$1.99

Emerging lithium mineral and chemicals company Frontier Lithium (TSXV:FL) is aiming to support North America's electric vehicle and battery supply chains by becoming a manufacturer of battery-quality lithium hydroxide. Its main asset is the Ontario-based PAK lithium project, which is located in the province's Electric Avenue.

Frontier was active through 2021, with its highest share price coming on December 8 at C$2.15. A recent company milestone came in early November, when Frontier started an advanced-phase metallurgical program at PAK; its goals include optimizing concentrator flowsheets, generating data needed for prefeasibility and definitive feasibility studies and generating concentrate for use in downstream chemical processing test work.

4. Vision Lithium

Year-to-date gain: 442.86 percent; current share price: C$0.19

Junior miner Vision Lithium (TSXV:VLI) is focused on exploring and developing battery minerals assets, primarily in Canada. The company’s lithium projects include Godslith in Manitoba, along with Cadillac and Sirmac in Quebec; it has various non-lithium assets in Canada as well. Sirmac was acquired from Nemaska Lithium in 2017.

Company shares jumped to a 2021 high point on February 11 of C$0.76. Vision released quite a bit of news in mid-February, but February 11 was the day it announced the production of 99.99 percent pure lithium carbonate from Sirmac. Several days later it revealed plans to acquire Godslith and staked additional claims adjacent to Sirmac.

5. Wealth Minerals

Year-to-date gain: 347.06 percent; current share price: C$0.38

Wealth Minerals (TSXV:WML) has interests in Canada, Mexico, Peru and Chile. While previously focused on building its lithium brine portfolio, the company is now transitioning to becoming a developer. It has a land position of 46,200 hectares in the northern part of Chile's Atacama salar, which it says is the industry's leading salar. The company also has the Ollague lithium project in Chile, as well as various non-lithium assets elsewhere.

Shares of Wealth Minerals rose to their highest 2021 level on September 27, when they hit C$0.67. Recent company news includes the purchase of 13,225,197 common shares of World Copper to be held as an investment.