10 High Growth Lithium Stocks to Invest In

8. Sayona Mining Limited (OTC:SYAXF)

5-Year Revenue CAGR: 338.36%

Average Price Target Upside: 100%

Number of Hedge Fund Holders: N/A

Eighth on our list of high-growth lithium stocks is Sayona Mining Limited (OTC:SYAXF), a lithium producer based in North America, with operations in Québec, Canada, and Western Australia. In Québec, the company oversees the North American Lithium operation, along with the Authier Lithium Project and Tansim Lithium Project, in partnership with Piedmont Lithium Inc.

Additionally, the company holds a 60% interest in the Moblan Lithium Project in northern Québec. In Western Australia, Sayona (OTC:SYAXF) has an extensive portfolio of land holdings in the Pilbara region, where it is exploring gold, including potential Hemi-style targets, and lithium. The company’s lithium assets include both owned leases and those in partnership with Morella Corporation.

Sayona (OTC:SYAXF) has had a strong year, marked by significant progress in its North American Lithium (NAL) operation. Since the restart of spodumene concentrate production in March 2023, NAL has achieved noteworthy operational milestones, including a record 49,660 dmt of concentrate produced by June 2024.

The company’s ongoing exploration efforts at NAL confirmed high-grade lithium mineralization, and a recent Mineral Resource Estimate (MRE) increase of 51% to 88 Mt highlights the potential for future production expansion. At the Moblan Lithium Project, significant drilling campaigns confirmed the extent of the high-grade deposit, with an updated MRE showing an 81% increase in resource size.

Moreover, A Definitive Feasibility Study for Moblan, with plans for 300,000 tonnes per year of production, has outlined competitive operating costs, and further drilling is planned in 2024 to upgrade resource categories.

In Western Australia, the company said that its exploration efforts at the Tabba Tabba project are refining the potential for further discoveries. Financially, Sayona (OTC:SYAXF) has maintained strong management and secured the capital needed for infrastructure, technology, and exploration investments.