• Elon begs entrepreneurs to get into the lithium refining business
  • Power Metals says Salta lithium-brine suitable for DLE technology
  • Aldoro’s latest assays from Niobe support further resource definition drilling


All your ASX lithium news for Thursday, July 21


Tesla has reported its earnings for Q2 and Elon Musk encouraged entrepreneurs to get into lithium refining.

“There’s like, software margins in lithium processing right now,” he said in the company’s earnings call.

“I would really like to encourage, once again, entrepreneurs to enter the lithium refining business – you can’t lose.

“It’s a licence to print money.”

He’s not wrong, Chinese battery makers still willing to pay upwards of US$70,000/t to get chemicals for electric vehicles in a tight market.

And it’s not the first time he’s begged people to get into the biz.

“Can some more people please get into the lithium business?” Musk said back in April. “Do you like minting money? Well, the lithium business is for you.”

He’s even previously toyed with the idea of getting Tesla into lithium mining and refining because of sky high prices and a long lead time to production.

In the second quarter, Tesla produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond in Shanghai.

June 2022 was the highest vehicle production month in Tesla’s history, but Musk reckons there’s room to improve.

“We have the potential for a record-breaking second half of the year,” he added.


Here’s how ASX lithium stocks were tracking today:

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


A total of 62 stocks were in the green today, 41 were flat and 28 were red.


Who’s got news out today?



PNN says new samples from the Salta lithium-brine Project in Argentina have confirmed their amenability for the application of Direct Lithium Extraction (DLE) technology, as proposed under Power’s Memorandum of Understanding (MoU) with global lithium extraction group Sunresin New Materials Co. (Sunresin).

Brine samples returned 335.2mg/L at the Rincon salar and 241.2mg/L at the Incahuasi salar.

The next step is for 40 litres of brine from both the Salares to be sent to Sunresin to be processed through Sunresin’s proprietary DLE technology.



Aldoro reckons the latest assays from its Niobe project in WA contribute to the project’s maiden resource and supports further resource definition drilling.

A total of 63 out of 65 holes intersected pegmatite over 1,091m with multiple intersections in fifty three holes and best mineralisation grades had lithium oxide up to 1.18%, rubidium up to 7,624ppm, caesium up to 1,565ppm and tantalum to 732ppm.

Additional down dip and extension drilling is planned to take place mid-July to increase the potential resource size and build a resource model.



Further assays from the Mavis Lake project in Canada have confirmed high grade lithium, with best results of 21.1m at 1.34% Li2O, including 8.6m at 1.91% Li2O.

The company has fast-tracked its Phase 2 drill program and has commenced drilling a further 5,000m focused on step-out and infill work in support of defining a JORC compliant resource.



The company has engaged Lycopodium Minerals to complete the engineering, procurement, construction management (EPCM) and commissioning services for its Kathleen Valley Lithium Project in WA.

It’s another milestone for the development of the project, which remains on-track for commissioning and production by Q2, 2024.



TKM says it is set for a ‘major exploration push’ in the second half of 2022 as work programs gather momentum at its manganese, lithium and base metals projects in the Pilbara region of Western Australia.

Current and planned activities in the next few months are expected to underpin a pivotal period of exploration activity for the ~$21.3m market cap explorer.

The initial focus of work will be to obtain metallurgical samples through diamond drilling as well as regional exploration targeting additions to the resource base via airborne geophysics.

A soil sampling program is currently underway at the Tambourah Project across areas with highly anomalous stream sediment samples and multiple lithium-bearing pegmatite dykes.

Here, the current phase of work will strive to define lithium drill targets.


PNN, ARN, CRR, LTR and TKM share prices today: