Eye on Lithium: Albanese dishes out more than $100m to drive Australian critical minerals project development
Pic: Getty Images
- Albanese accelerates the growth of Australia’s critical mineral sector with funding boost
- Forrestania Resources readies for drilling this weekend with contractor mobilised at flagship project
- Allkem posts weaker than expected results for the September quarter
All your lithium news, Friday October 21.
The Albanese government is trying to further accelerate the growth of Australia’s critical mineral sector after today announcing the development of a new National Critical Minerals Strategy, in-line with other government initiatives such as the National Battery and Electric Vehicle Strategy.
Albanese said next week’s Budget will include $50.5 million over four years to establish the Australian Critical Minerals Research and Development Hub to help unlock our nation’s critical minerals potential.
The government will also allocate $50 million over three years to the Critical Minerals Development Program for competitive grants to support early and mid-stage critical minerals projects, building on the $50 million recently committed to six key projects across Australia.
This is excellent: we have a global technology race well underway; a once in a lifetime set of massive Australian export, investment & employment opportunities to lead global decarbonisation: @AlboMP @MadeleineMHKing & @Bowenchris are moving rapidly. ✅https://t.co/a3GgvJ6BST pic.twitter.com/YWc5QlgPRL
— Tim Buckley (@TimBuckleyCEF) October 21, 2022
As the world’s largest lithium producer, latest figures estimate Australia’s lithium exports to jump more than 10 fold over two years from $1.1bn in 2022-2023 to almost $14bn in 2022-2023.
The development of a battery industry could contribute $7.4bn annually to our economy and support 34,700 jobs by 2030.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | % WEEK | % MONTH | % YEAR | MARKET CAP |
|---|---|---|---|---|---|---|---|
| SHH | Shree Minerals Ltd | 0.008 | 14% | 0% | -11% | -27% | $8,669,408 |
| AOA | Ausmon Resorces | 0.008 | 14% | 14% | -11% | 14% | $6,001,025 |
| VKA | Viking Mines Ltd | 0.008 | 14% | 14% | 0% | -62% | $7,176,809 |
| XTC | Xantippe Res Ltd | 0.008 | 14% | 0% | -11% | 100% | $57,016,609 |
| MTM | Mtmongerresources | 0.125 | 9% | 0% | -17% | -22% | $4,313,654 |
| ADV | Ardiden Ltd | 0.0075 | 7% | 7% | -6% | -32% | $18,678,347 |
| GSM | Golden State Mining | 0.039 | 7% | -7% | -20% | -63% | $4,271,018 |
| STM | Sunstone Metals Ltd | 0.032 | 7% | 3% | -24% | -54% | $77,893,393 |
| LEL | Lithenergy | 1.225 | 7% | 9% | 11% | 81% | $115,912,200 |
| AGY | Argosy Minerals Ltd | 0.54 | 6% | 15% | 0% | 108% | $704,064,346 |
| KZR | Kalamazoo Resources | 0.19 | 6% | 0% | -22% | -52% | $26,787,487 |
| LRV | Larvottoresources | 0.205 | 5% | -18% | -2% | 0% | $8,098,838 |
| AOU | Auroch Minerals Ltd | 0.062 | 5% | -2% | -18% | -66% | $21,895,596 |
| TYX | Tyranna Res Ltd | 0.047 | 4% | 15% | -8% | 571% | $107,951,640 |
| FRS | Forrestaniaresources | 0.1775 | 4% | -11% | -11% | -54% | $8,571,369 |
| BNR | Bulletin Res Ltd | 0.125 | 4% | 4% | -11% | 79% | $35,110,932 |
| PAM | Pan Asia Metals | 0.38 | 4% | 0% | -13% | -33% | $53,602,290 |
| SRZ | Stellar Resources | 0.0135 | 4% | 4% | -4% | -64% | $13,060,202 |
| CZL | Cons Zinc Ltd | 0.028 | 4% | 17% | 27% | -33% | $12,498,879 |
| AZI | Altamin Limited | 0.085 | 4% | 6% | -3% | 5% | $32,120,774 |
| KAI | Kairos Minerals Ltd | 0.029 | 4% | 4% | -24% | -6% | $54,994,618 |
| TEM | Tempest Minerals | 0.031 | 3% | -3% | -16% | 55% | $15,142,985 |
| MQR | Marquee Resource Ltd | 0.062 | 3% | 9% | -11% | -30% | $19,057,055 |
| KTA | Krakatoa Resources | 0.063 | 3% | 7% | -7% | 7% | $21,027,305 |
| LNR | Lanthanein Resources | 0.037 | 3% | 6% | -20% | 85% | $34,661,721 |
| MIN | Mineral Resources. | 73.785 | 3% | 7% | 3% | 76% | $13,643,305,767 |
| PSC | Prospect Res Ltd | 0.1025 | 3% | 8% | 16% | 350% | $46,225,946 |
| KGD | Kula Gold Limited | 0.042 | 2% | 14% | 40% | -17% | $13,784,689 |
| INF | Infinity Lithium | 0.22 | 2% | 16% | 16% | -2% | $89,590,451 |
| MRR | Minrex Resources Ltd | 0.044 | 2% | -20% | -15% | 132% | $46,578,286 |
| SYA | Sayona Mining Ltd | 0.225 | 2% | 2% | -15% | 45% | $1,828,310,677 |
| TUL | Tulla Resources | 0.45 | 2% | 2% | -6% | -13% | $70,495,424 |
| CXO | Core Lithium | 1.36 | 2% | 20% | -6% | 125% | $2,439,912,532 |
| CHR | Charger Metals | 0.48 | 2% | 0% | -13% | 12% | $20,494,836 |
| AAJ | Aruma Resources Ltd | 0.073 | 2% | 6% | 16% | -15% | $11,222,747 |
| PLS | Pilbara Min Ltd | 5.07 | 2% | 3% | 4% | 138% | $14,834,133,581 |
| ALY | Alchemy Resource Ltd | 0.0265 | 2% | -2% | 26% | 104% | $30,499,983 |
| ASN | Anson Resources Ltd | 0.295 | 2% | 5% | -23% | 228% | $340,687,332 |
| IGO | IGO Limited | 15.815 | 2% | 3% | 6% | 63% | $11,790,659,848 |
| LKE | Lake Resources | 1.055 | 1% | 8% | 0% | 39% | $1,445,806,657 |
| SCN | Scorpion Minerals | 0.072 | 1% | 3% | -12% | 4% | $23,693,140 |
| ESS | Essential Metals Ltd | 0.52 | 1% | 4% | 7% | 167% | $127,906,781 |
| LTR | Liontown Resources | 1.855 | 1% | 22% | 10% | 16% | $4,041,441,044 |
| GT1 | Greentechnology | 0.82 | 1% | 12% | 5% | 0% | $155,451,790 |
| AML | Aeon Metals Ltd. | 0.026 | 0% | -2% | -16% | -53% | $28,429,200 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | 129% | $2,752,409,203 |
| EMH | European Metals Hldg | 0.8 | 0% | 16% | -6% | -43% | $95,751,750 |
| EUR | European Lithium Ltd | 0.09 | 0% | 14% | 1% | -10% | $126,021,526 |
| GLN | Galan Lithium Ltd | 1.27 | 0% | 7% | -10% | 8% | $386,803,749 |
| LIT | Lithium Australia | 0.051 | 0% | -4% | -14% | -61% | $62,280,265 |
| QPM | Queensland Pacific | 0.165 | 0% | 3% | 6% | -38% | $285,493,958 |
| RLC | Reedy Lagoon Corp. | 0.013 | 0% | 0% | -13% | -52% | $7,246,550 |
| TKL | Traka Resources | 0.006 | 0% | -14% | -25% | -57% | $4,132,647 |
| TON | Triton Min Ltd | 0.024 | 0% | 0% | 9% | -25% | $33,186,820 |
| BMM | Balkanminingandmin | 0.255 | 0% | -6% | -22% | -62% | $10,967,743 |
| NMT | Neometals Ltd | 1.065 | 0% | 3% | -15% | 18% | $588,249,031 |
| AM7 | Arcadia Minerals | 0.3 | 0% | 2% | 9% | 36% | $14,009,368 |
| AS2 | Askarimetalslimited | 0.47 | 0% | 21% | 32% | 129% | $21,375,187 |
| BYH | Bryah Resources Ltd | 0.025 | 0% | 0% | -11% | -54% | $6,981,337 |
| FG1 | Flynngold | 0.11 | 0% | 0% | 5% | -31% | $7,046,716 |
| IMI | Infinitymining | 0.235 | 0% | 12% | -4% | 0% | $14,832,906 |
| RAG | Ragnar Metals Ltd | 0.025 | 0% | -11% | -32% | -43% | $9,479,622 |
| TMB | Tambourahmetals | 0.15 | 0% | 3% | -6% | -29% | $6,178,890 |
| TSC | Twenty Seven Co. Ltd | 0.002 | 0% | -20% | 0% | -43% | $10,643,256 |
| WCN | White Cliff Min Ltd | 0.019 | 0% | 0% | -19% | 46% | $14,204,464 |
| WML | Woomera Mining Ltd | 0.014 | 0% | -7% | -18% | -33% | $10,961,817 |
| AZL | Arizona Lithium Ltd | 0.078 | 0% | 4% | -10% | 24% | $187,974,194 |
| LRS | Latin Resources Ltd | 0.1 | 0% | 1% | -13% | 138% | $197,209,329 |
| WR1 | Winsome Resources | 0.38 | 0% | 12% | 13% | 0% | $51,343,318 |
| QXR | Qx Resources Limited | 0.066 | 0% | -19% | 94% | 200% | $58,202,913 |
| ENT | Enterprise Metals | 0.01 | 0% | -9% | -17% | -37% | $6,529,807 |
| AVW | Avira Resources Ltd | 0.0035 | 0% | 0% | -13% | -42% | $7,468,265 |
| RMX | Red Mount Min Ltd | 0.0055 | 0% | 10% | -8% | -39% | $9,033,001 |
| EFE | Eastern Resources | 0.039 | 0% | 0% | 26% | -3% | $43,671,848 |
| LSR | Lodestar Minerals | 0.0055 | 0% | -8% | -15% | -39% | $9,561,405 |
| SRI | Sipa Resources Ltd | 0.05 | 0% | 9% | 0% | -9% | $10,251,240 |
| VMC | Venus Metals Cor Ltd | 0.14 | 0% | 4% | -15% | -26% | $22,411,016 |
| ZNC | Zenith Minerals Ltd | 0.3 | 0% | -3% | 0% | 15% | $103,428,684 |
| RAS | Ragusa Minerals Ltd | 0.28 | 0% | -2% | 4% | 167% | $36,683,536 |
| G88 | Golden Mile Res Ltd | 0.027 | 0% | 4% | -21% | -47% | $5,523,923 |
| EPM | Eclipse Metals | 0.02 | 0% | -5% | -9% | -63% | $40,485,137 |
| WC8 | Wildcat Resources | 0.032 | 0% | -3% | -18% | -32% | $20,856,727 |
| THR | Thor Mining PLC | 0.0085 | 0% | -6% | -23% | -53% | $9,365,287 |
| DRE | Dreadnought Resources Ltd | 0.105 | 0% | 12% | -13% | 169% | $319,466,023 |
| MM1 | Midasmineralsltd | 0.18 | 0% | -5% | -10% | -10% | $10,283,718 |
| MMG | Monger Gold Ltd | 0.48 | 0% | 32% | -6% | 71% | $19,219,200 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | 0% | 0% | -77% | $74,238,031 |
| ZEO | Zeotech Limited | 0.038 | 0% | -3% | -21% | -56% | $61,352,248 |
| DAF | Discovery Alaska Ltd | 0.037 | 0% | 6% | -54% | -8% | $8,296,684 |
| IR1 | Irismetals | 1.72 | 0% | 9% | -16% | 429% | $107,895,600 |
| OCN | Oceanalithiumlimited | 0.48 | 0% | -4% | -23% | 0% | $16,092,000 |
| CMD | Cassius Mining Ltd | 0.035 | 0% | 0% | 0% | 106% | $14,130,932 |
| GL1 | Globallith | 2.61 | 0% | 13% | -2% | 544% | $415,789,431 |
| RIO | Rio Tinto Limited | 91.54 | -1% | -4% | -3% | -7% | $34,248,407,904 |
| LRD | Lordresourceslimited | 0.295 | -1% | 0% | -16% | 0% | $9,902,175 |
| LLL | Leolithiumlimited | 0.575 | -1% | -1% | -24% | 0% | $572,261,009 |
| LPI | Lithium Pwr Int Ltd | 0.555 | -1% | 4% | -10% | 25% | $219,072,631 |
| INR | Ioneer Ltd | 0.525 | -1% | -5% | -25% | -23% | $1,112,011,060 |
| AUN | Aurumin | 0.084 | -1% | 2% | -16% | -60% | $10,651,107 |
| DTM | Dart Mining NL | 0.083 | -1% | 6% | -8% | -32% | $13,041,853 |
| WES | Wesfarmers Limited | 43.75 | -1% | -1% | -5% | -20% | $50,274,476,330 |
| MNS | Magnis Energy Tech | 0.355 | -1% | 3% | -23% | -7% | $349,319,334 |
| VUL | Vulcan Energy | 6.09 | -1% | -6% | -23% | -55% | $885,812,160 |
| A11 | Atlantic Lithium | 0.62 | -2% | 3% | 0% | 0% | $381,617,246 |
| RDT | Red Dirt Metals Ltd | 0.53 | -2% | -11% | -17% | -26% | $179,277,744 |
| PNN | Power Minerals Ltd | 0.49 | -2% | 10% | -13% | 23% | $36,078,517 |
| AKE | Allkem Limited | 14.6 | -2% | 5% | -9% | 62% | $9,513,858,643 |
| CY5 | Cygnus Gold Limited | 0.455 | -2% | -8% | 69% | 237% | $68,441,171 |
| NVA | Nova Minerals Ltd | 0.675 | -2% | 9% | -13% | -56% | $126,726,280 |
| MXR | Maximus Resources | 0.044 | -2% | 0% | -12% | -48% | $14,350,760 |
| 1MC | Morella Corporation | 0.0215 | -2% | 2% | -14% | -66% | $127,634,227 |
| MLS | Metals Australia | 0.04 | -2% | -13% | -20% | 0% | $24,888,484 |
| PGD | Peregrine Gold | 0.58 | -3% | 4% | -3% | 38% | $23,039,326 |
| FTL | Firetail Resources | 0.185 | -3% | -8% | -26% | 0% | $11,738,675 |
| GW1 | Greenwing Resources | 0.35 | -3% | -4% | 17% | 25% | $45,433,967 |
| CRR | Critical Resources | 0.068 | -3% | 13% | -20% | 119% | $104,313,136 |
| M2R | Miramar | 0.097 | -3% | -2% | -8% | -46% | $6,418,666 |
| LIS | Lisenergylimited | 0.42 | -3% | -18% | -28% | -82% | $72,172,671 |
| NWM | Norwest Minerals | 0.027 | -4% | -7% | -37% | -67% | $6,219,007 |
| DAL | Dalaroometalsltd | 0.13 | -4% | -4% | 0% | -48% | $4,033,125 |
| ARN | Aldoro Resources | 0.24 | -4% | 7% | 0% | -43% | $24,896,829 |
| EVR | Ev Resources Ltd | 0.024 | -4% | -4% | -14% | -27% | $23,149,602 |
| CAI | Calidus Resources | 0.35 | -4% | -1% | -37% | -40% | $159,790,322 |
| RGL | Riversgold | 0.044 | -4% | -10% | 7% | 102% | $35,709,848 |
| LPD | Lepidico Ltd | 0.021 | -5% | 11% | -22% | -19% | $144,808,757 |
| MMC | Mitremining | 0.17 | -6% | 0% | -3% | -26% | $4,875,318 |
| PLL | Piedmont Lithium Inc | 0.855 | -7% | 6% | -10% | 1% | $1,431,780,930 |
| IPT | Impact Minerals | 0.0065 | -7% | -7% | -13% | -55% | $17,369,594 |
| EMS | Eastern Metals | 0.12 | -8% | -17% | -14% | 0% | $5,025,313 |
| JRL | Jindalee Resources | 2.12 | -8% | -4% | -19% | -12% | $132,545,411 |
| A8G | Australasian Metals | 0.25 | -9% | -11% | -17% | -67% | $11,321,886 |
| TKM | Trek Metals Ltd | 0.052 | -10% | -22% | -21% | -57% | $18,015,389 |
| AX8 | Accelerate Resources | 0.031 | -11% | -9% | -24% | -28% | $9,466,061 |
44 companies finished in the green, 49 fell flat and 40 tumbled into the red zone.
Who’s got news out today?
FORRESTANIA RESOURCES (ASX:FRS)
A drilling contractor has mobilised on site at the Forrestania Project where high-priority lithium targets at Bounty East and Gem Mine will be tested, starting this weekend.
A heritage survey, undertaken by the Ballardong traditional owners, has also wrapped up.
The survey was undertaken at the South Iron Cap East, Bannon, Prince and Lady Lila prospects and no new sites were identified.
ALLKEM (ASX:AKE)
AKE’s September quarter has been weaker than expected, with recoveries of just 25% due to the fine grained nature of the ore currently being mined at its Mt Cattlin lithium mine in WA.
Just 17,606dmt of spodumene was produced at a 5.3% Li2O grade, with 21,215t at 5.4% Li2O shipped.
However, AKE managed to pick up an average realised sales price of US$5028/dmt, pulling in US$107m in revenue, with an additional US$35m pulled in from shipments of 59,326dmt of low grade spod, against a cash cost of just US$796/dmt.
Even the low-grade stuff generated a US$25.6m margin, with an 80%, US$85.4m margin for the primary material.
NOW READ: Good news, bad news in Allkem’s lithium results and coal miners keep doing their thing
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