• A 54.3% stake in Yajiang Snowway sold for around AU$424 million
  • The company’s Sichuan spodumene asset has estimated reserves of 24.9 million tonnes
  • Xantippe exercises option to acquire Luz Maria tenement in Argentina

 

All your ASX lithium news for Tuesday, May 24

 

The global rush for to secure lithium supplies just ramped up, with an auction for a controlling stake in a Chinese lithium mine scoring 3,448 bids over the weekend.

The 54.3% stake in Yajiang Snowway Mining Development, which owns the mine in Sichuan, a southwestern province in China, sold for about 2 billion yuan (around US$300million).

The insane price was nearly 600x higher than the starting price of around 3.35 million yuan.

The fierce bidding was joined by 21 participants and lasted five days – and 980,000 people watched online.

 

Spodumene assets strategically important

“We believe the auction price indicates a bullish Chinese primary market for future lithium prices as well as the strategic importance of Sichuan spodumene assets,” Daiwa Capital Markets’ analysts Dennis Ip and Leo Ho said in a note.

Yajiang Snowway is undergoing a bankruptcy process, and its Dechenonba lithium mine has estimated reserves of 24.9 million tonnes and a planned 1-million-ton capacity per year.

 

Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

 

Code Company Price % Month % Week % Today Market Cap
RAS Ragusa Minerals Ltd 0.13 51% 73% 30% $12,565,783.00
PAM Pan Asia Metals 0.51 -7% 17% 11% $33,882,976.24
MQR Marquee Resource Ltd 0.11 -24% 16% 10% $31,174,848.50
IPT Impact Minerals 0.011 -24% 5% 10% $21,904,615.86
ADV Ardiden Ltd 0.012 -17% -8% 9% $29,351,688.92
ESS Essential Metals Ltd 0.585 -15% 16% 8% $132,738,877.44
QXR Qx Resources Limited 0.052 -28% 6% 8% $41,249,391.41
LEL Lithenergy 1.36 37% 17% 7% $57,340,500.00
KTA Krakatoa Resources 0.08 -38% -2% 7% $25,853,243.78
MMG Monger Gold Ltd 0.33 13% 16% 6% $7,750,000.00
A8G Australasian Metals 0.415 -18% 15% 6% $16,056,492.66
LIS Lisenergylimited 0.665 -4% 13% 6% $103,696,366.88
MLS Metals Australia 0.1 -38% 10% 5% $41,325,232.37
FRS Forrestaniaresources 0.2 -46% -11% 5% $5,338,772.76
EMS Eastern Metals 0.21 -7% 31% 5% $7,120,000.00
RAG Ragnar Metals Ltd 0.045 -10% 22% 5% $16,304,950.23
AM7 Arcadia Minerals 0.23 -26% 10% 5% $7,698,350.00
ASN Anson Resources Ltd 0.125 -4% 14% 4% $123,349,480.20
M2R Miramar 0.125 -38% 0% 4% $7,667,105.40
AKE Allkem Limited 13.52 6% 18% 4% $8,276,801,956.28
ZEO Zeotech Limited 0.053 -17% -5% 4% $77,770,688.97
PLS Pilbara Min Ltd 2.92 5% 12% 4% $8,364,904,082.33
LTR Liontown Resources 1.345 -14% 8% 4% $2,838,931,631.41
GLN Galan Lithium Ltd 1.485 -23% 7% 4% $435,291,087.66
INF Infinity Lithium 0.135 -23% 0% 4% $53,951,698.58
1MC Morella Corporation 0.028 -26% 8% 4% $139,757,777.62
LPD Lepidico Ltd 0.029 -26% 7% 4% $179,476,807.69
LRV Larvottoresources 0.31 -39% 3% 3% $12,362,250.00
WC8 Wildcat Resources 0.032 -9% -3% 3% $20,003,454.54
LRD Lordresourceslimited 0.34 21% 31% 3% $10,158,924.93
VMC Venus Metals Cor Ltd 0.175 -13% -5% 3% $25,683,376.11
BNR Bulletin Res Ltd 0.18 -23% 6% 3% $50,765,942.50
ZNC Zenith Minerals Ltd 0.37 -16% 1% 3% $123,805,495.80
RDT Red Dirt Metals Ltd 0.57 -1% 31% 3% $167,339,604.56
CHR Charger Metals 0.575 -23% 3% 3% $18,245,379.60
MIN Mineral Resources. 61.105 1% 11% 2% $11,283,963,563.88
IGO IGO Limited 11.92 -12% 12% 2% $8,822,170,021.45
NMT Neometals Ltd 1.325 -25% -3% 2% $710,147,432.82
AOU Auroch Minerals Ltd 0.089 -36% -2% 2% $31,433,256.51
BYH Bryah Resources Ltd 0.045 -21% -6% 2% $9,953,115.70
NWM Norwest Minerals 0.047 -15% 12% 2% $8,307,939.80
MRR Minrex Resources Ltd 0.054 -24% 4% 2% $53,461,921.98
FTL Firetail Resources 0.325 -19% 7% 2% $19,770,400.00
MM1 Midasmineralsltd 0.335 -4% 24% 2% $17,964,581.25
RIO Rio Tinto Limited 111.06 -2% 6% 1% $40,648,175,433.00
AGY Argosy Minerals Ltd 0.41 -15% 9% 1% $548,676,512.91
AVZ AVZ Minerals Ltd 0.78 -28% 0% 0% $2,752,409,203.44
JRL Jindalee Resources 3.43 -27% -7% 0% $196,809,853.38
PLL Piedmont Lithium Inc 0.83 -15% 11% 0% $437,883,764.00
QPM Queensland Pacific 0.165 -6% 14% 0% $257,996,166.62
RLC Reedy Lagoon Corp. 0.029 -17% 16% 0% $15,902,359.67
TKL Traka Resources 0.008 -20% -11% 0% $5,510,196.49
TON Triton Min Ltd 0.029 -15% 4% 0% $36,504,741.13
BMM Balkanminingandmin 0.3 -15% 5% 0% $9,825,000.00
AAJ Aruma Resources Ltd 0.077 -33% 0% 0% $12,086,035.73
FG1 Flynngold 0.145 -6% 7% 0% $9,288,852.25
GSM Golden State Mining 0.068 -19% 5% 0% $7,059,396.34
IMI Infinitymining 0.16 -27% -3% 0% $9,200,000.00
MMC Mitremining 0.145 -22% 0% 0% $3,927,339.50
SHH Shree Minerals Ltd 0.01 -33% 0% 0% $12,222,368.92
CRR Critical Resources 0.081 -23% 11% 0% $120,496,648.14
KGD Kula Gold Limited 0.033 -30% -8% 0% $7,100,795.86
LRS Latin Resources Ltd 0.125 -34% 19% 0% $241,102,230.75
SCN Scorpion Minerals 0.105 40% 21% 0% $34,842,275.16
AZI Altamin Limited 0.096 13% -1% 0% $37,604,808.19
ENT Enterprise Metals 0.014 -36% 0% 0% $9,025,055.97
KAI Kairos Minerals Ltd 0.027 -10% 4% 0% $52,976,524.26
STM Sunstone Metals Ltd 0.053 -25% -10% 0% $136,445,660.15
PGD Peregrine Gold 0.49 -4% 10% 0% $18,760,467.81
AVW Avira Resources Ltd 0.005 -23% 0% 0% $10,593,950.00
NVA Nova Minerals Ltd 0.665 -13% 9% 0% $119,834,519.53
SRZ Stellar Resources 0.023 -21% 0% 0% $19,303,960.40
LSR Lodestar Minerals 0.01 -33% 0% 0% $17,384,373.48
AOA Ausmon Resorces 0.009 -10% 13% 0% $7,715,604.09
VKA Viking Mines Ltd 0.009 -25% 0% 0% $9,227,325.88
SRI Sipa Resources Ltd 0.039 -20% 0% 0% $7,995,967.32
THR Thor Mining PLC 0.013 -19% 4% 0% $13,753,238.41
CZL Cons Zinc Ltd 0.024 -20% -8% 0% $8,432,587.51
MXR Maximus Resources 0.071 -17% -3% 0% $22,571,309.53
XTC Xantippe Res Ltd 0.011 -21% 10% 0% $84,513,625.89
WMC Wiluna Mining Corp 0.565 -37% 0% 0% $119,392,943.93
AUN Aurumin 0.175 -8% -8% 0% $19,114,069.10
GW1 Greenwing Resources 0.32 -32% 2% 0% $39,439,151.68
TYX Tyranna Res Ltd 0.009 50% 13% 0% $11,811,246.00
CXO Core Lithium 1.325 -5% 12% 0% $2,304,029,654.92
PSC Prospect Res Ltd 0.945 -1% 0% -1% $414,837,158.35
CAI Calidus Resources 0.835 -18% 2% -1% $337,929,486.72
VUL Vulcan Energy 7.45 -16% 4% -1% $988,654,625.90
EMH European Metals Hldg 0.97 -22% -2% -1% $137,961,425.70
GT1 Greentechnology 0.87 -21% 10% -1% $119,884,160.00
WR1 Winsome Resources 0.42 -16% 9% -1% $57,423,447.45
MNS Magnis Energy Tech 0.4 -14% 1% -1% $391,426,558.25
EUR European Lithium Ltd 0.078 -26% 3% -1% $109,250,177.24
LPI Lithium Pwr Int Ltd 0.56 -34% -2% -2% $199,012,563.36
INR Ioneer Ltd 0.545 -18% 12% -2% $1,160,671,178.10
EPM Eclipse Metals 0.0265 -24% 2% -2% $51,870,413.15
LKE Lake Resources 1.475 -30% 2% -2% $2,002,766,089.94
FFX Firefinch Ltd 0.945 -14% 9% -2% $1,139,899,708.27
ARN Aldoro Resources 0.215 -28% -2% -2% $21,826,989.58
TMB Tambourahmetals 0.21 -22% 2% -2% $8,856,408.57
DRE Dreadnought Resources Ltd 0.042 -5% 8% -2% $122,063,392.69
AML Aeon Metals Ltd. 0.037 -36% -3% -3% $35,824,837.74
EFE Eastern Resources 0.037 -26% 0% -3% $37,788,591.98
GL1 Globallith 1.65 -21% 1% -3% $268,993,543.92
AX8 Accelerate Resources 0.035 -29% -10% -3% $9,484,520.36
MTM Mtmongerresources 0.145 -34% -9% -3% $5,439,004.95
KZR Kalamazoo Resources 0.3525 -25% 2% -3% $52,995,946.51
ALY Alchemy Resource Ltd 0.027 0% 35% -4% $26,686,073.60
G88 Golden Mile Res Ltd 0.053 -21% -4% -4% $11,205,293.77
LIT Lithium Australia 0.086 -18% -1% -4% $93,164,870.16
EVR Ev Resources Ltd 0.042 -29% 8% -5% $40,743,299.12
WCN White Cliff Min Ltd 0.02 -31% 0% -5% $13,725,670.60
AS2 Askarimetalslimited 0.495 -28% 1% -5% $21,621,391.48
DTM Dart Mining NL 0.069 -9% 15% -5% $9,087,837.89
TEM Tempest Minerals 0.05 -50% -19% -6% $26,738,897.98
RMX Red Mount Min Ltd 0.0075 -21% -6% -6% $13,138,910.86
RGL Riversgold 0.044 -39% 7% -6% $26,857,966.42
AZL Arizona Lithium Ltd 0.145 -22% 4% -6% $346,071,477.86
PNN PepinNini Minerals 0.485 -42% -8% -7% $31,949,987.68
WML Woomera Mining Ltd 0.0205 -34% 3% -7% $15,110,327.45
SYA Sayona Mining Ltd 0.2175 -40% -15% -7% $1,687,945,673.08
DAF Discovery Alaska Ltd 0.075 88% 79% -10% $18,528,479.93
TSC Twenty Seven Co. Ltd 0.003 -25% -25% -25% $10,643,255.62
IR1 Irismetals 0.4 -37% -37% -37% $31,878,000.00

 

A total of 46 stocks were in the green today, with 39 flatlining and 39 in the red.

 

Who’s got news out today?

XANTIPPE RESOURCES (ASX:XTC)

The company has exercised its option to acquire the Luz Maria lithium brine tenement in Argentina, known as the Carachi Pampa project, which has a total area of ~3,400 Hectares in close proximity to Lake Resources (ASX:LKE) Kachi project.

“In exercising the option to acquire the Luz Maria tenement, Xantippe has increased its holding by 3,383 hectares in the Latin American lithium triangle,” MD Richard Henning said.

“Together with La Sofia, Rita, and Rita I, XTC now holds almost 12,400 hectares.

“The Company’s objective is to produce a ESG Lithium product using direct lithium extraction (DLE) which requires a smaller environmental footprint, provides optimal yield and efficient use of water.”

XTC plans to get exploration underway ASAP once the necessary approvals are secured.