If you're looking for options in the lithium space outside the status quo, then you may want to check out the two ASX lithium shares listed below.
Both of these shares have recently been named as buys by Bell Potter and tipped to climb meaningfully higher than current levels. Here's what the broker is saying about them:
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Azure Minerals Ltd (ASX: AZS)
The first ASX lithium share that could be a buy is Azure Minerals. It is the 60% owner of the highly regarded Andover lithium project in Western Australia.
Bell Potter currently has a speculative buy rating and a $3 price target on its shares. Based on the current Azure Minerals share price of $1.97, this suggests a potential upside of 52% for investors. The broker said:
AZS offers exposure to a very-high potential WA Li exploration project, in the early stages of discovery. We think it's undervalued given the clear upside that Andover could support a Tier-1 mining operation, in the Tier-1 mining jurisdiction of Western Australia.
Delta Lithium Ltd (ASX: DLI)
Another ASX lithium share that could have plenty of upside potential is Delta Lithium. It is a lithium spodumene explorer and developer that owns two projects in Western Australia. These are the promising Mt Ida and Yinnetharra projects.
Bell Potter currently has a speculative buy rating and a $1.35 price target on its shares. Based on the Delta Lithium share price of 93 cents, this implies a potential upside of 45% for investors over the next 12 months. The broker commented:
DLI announced the initial lithium Mineral Resource Estimate (MRE) for Mt Ida of 12.7Mt at 1.2% Li2O. Mt Ida is contained within a granted mining lease, which is enabling its rapid development. At Yinnetharra, ongoing exploration has identified wide-spread lithium mineralisation, providing look-though to a second, larger lithium project. DLI has several attractive characteristics as a lithium developer. i) Relatively near-term production, targeting a Direct Shipping Operation from 4QFY23. ii) Yinnetharra exploration results, and commentary, point to the potential of the project to host a second, larger, resource and mining operation. iii) DLI remains independent in an environment of accelerating strategic investment and partnering.
