• 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.

 

 

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
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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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