Argentina's lithium exports are worth celebrating so far this week. Image via Getty.
Eye on Lithium: Albemarle buys WA lithium junior next to Greenbushes for $30m, Argentina exports rise 17%
Mining
share
- Chris Ellison tears up Ganfeng toll shipment lithium hydroxide deal
- Albemarle snaps up LPI’s WA tenements near Greenbushes for $30m
- Argentina’s lithium exports are up 17% this last month
All your lithium news, Monday, June 19.
Lithium-focused majors with interests in WA are changing outfits to feel a bit more comfortable in their skin these past few days, with one cancelling a purchase deal and another ending up with a second-choice project.
WA mining major Mineral Resources (ASX:MIN) terminated a tolling agreement to convert spodumene into lithium hydroxide with Chinese battery behemoth Ganfeng at the end of last week, preferring to sell the company spodumene from Mt Marion at current, buoyant spot market prices.
MinRes reduced spodumene shipment guidance from Mt Marion from 160,000t-180,000t to 145,000t-150,000t due to a one-month shipment delay.
It also noted that volumes from its Wodgina lithium JV with US giant Albemarle would be at the lower end of its 150,000t-170,000t spodumene guidance and its 11,500t-12,500t lithium hydroxide guidance.
MinRes’s first exploration campaign is now complete after ~34km of drilling using six diamond and RC drills.
The company extended the North Pit 1km below the current LOM and intercepts included 51m @ 1.3% Li2O from 410m, including 32m @ 1.5% Li2O from 411m.
The Mt Marion processing plant has now been completed, and commissioning is underway.
“The exciting exploration results at Mt Marion highlight we are just scratching the surface of the potential lithium resource, including the possibility of underground mining.
“The early termination of the Mt Marion toll treatment agreement with Ganfeng is a sensible outcome given prevailing market prices, with our world-class lithium assets well-placed to capitalise on growing demand.”
Speaking of Albemarle, it looks like it has found a backup option to expand further into lithium projects after its takeover offer for Liontown Resources (ASX:LTR) at $2.50 was rejected a couple of months ago.
The US chemical producer has forked out $30m for Lithium Power International (ASX:LPI) tenements along the strike continuation of its 49%-owned Greenbushes lithium mine.
LPI is now well cashed up to concentrate on its Maricunga lithium brine project in Chile.
Staying in South America, Argentina’s recently released lithium export figures have reached an all-time high, rising to US$60m last month, up a whopping 17%.
It has three active mines and a mind-boggling 38 currently being developed.
Here’s how Aussie lithium stocks are tracking:
| Code | Company | Price | % Today | Market Cap |
|---|---|---|---|---|
| FTL | Firetail Resources | 0.12 | 30% | $7,084,000 |
| EPM | Eclipse Metals | 0.014 | 17% | $24,336,718 |
| 1MC | Morella Corporation | 0.008 | 14% | $42,690,063 |
| TKL | Traka Resources | 0.008 | 14% | $6,099,305 |
| KZR | Kalamazoo Resources | 0.145 | 12% | $19,982,391 |
| REC | Recharge Metals Limited | 0.285 | 9% | $27,016,575 |
| CMD | Cassius Mining Ltd | 0.024 | 9% | $8,986,844 |
| WC8 | Wildcat Resources | 0.13 | 8% | $79,667,319 |
| EMC | Everest Metals Corp | 0.14 | 8% | $16,826,304 |
| IPT | Impact Minerals | 0.014 | 8% | $36,981,151 |
| EMC | Everest Metals Corp | 0.14 | 8% | $16,826,304 |
| ZEO | Zeotech Limited | 0.058 | 7% | $88,598,106 |
| ADV | Ardiden Ltd | 0.0075 | 7% | $18,818,347 |
| DLI | Delta Lithium | 0.795 | 7% | $387,827,252 |
| MM1 | Midasmineralsltd | 0.265 | 6% | $17,812,353 |
| TON | Triton Min Ltd | 0.036 | 6% | $53,086,091 |
| KGD | Kula Gold Limited | 0.018 | 6% | $6,344,603 |
| SRI | Sipa Resources Ltd | 0.018 | 6% | $3,878,688 |
| SCN | Scorpion Minerals | 0.075 | 6% | $24,545,140 |
| RAG | Ragnar Metals Ltd | 0.019 | 6% | $6,825,328 |
| MTM | MTM Critical Metals | 0.115 | 5% | $9,719,331 |
| TUL | Tulla Resources | 0.345 | 5% | $111,505,087 |
| AUN | Aurumin | 0.027 | 4% | $7,048,380 |
| MQR | Marquee Resource Ltd | 0.058 | 4% | $18,323,620 |
| AS2 | Askari Metals | 0.3 | 3% | $19,541,172 |
| LRV | Larvottoresources | 0.15 | 3% | $9,751,935 |
| KOB | Koba Resources | 0.16 | 3% | $16,339,583 |
| NMT | Neometals Ltd | 0.545 | 3% | $292,952,823 |
| QXR | Qx Resources Limited | 0.037 | 3% | $32,287,044 |
| NIS | Nickel Search | 0.08 | 3% | $4,719,423 |
| EUR | European Lithium Ltd | 0.1025 | 3% | $148,923,918 |
| BUR | Burley Minerals | 0.205 | 3% | $14,923,961 |
| LLL | Leo Lithium | 1.07 | 2% | $1,031,130,794 |
| AAJ | Aruma Resources Ltd | 0.047 | 2% | $9,025,285 |
| DTM | Dart Mining NL | 0.05 | 2% | $8,442,074 |
| FBM | Future Battery | 0.1325 | 2% | $55,619,867 |
| RAS | Ragusa Minerals Ltd | 0.073 | 1% | $10,267,113 |
| VUL | Vulcan Energy | 4.05 | 1% | $669,341,204 |
| EMH | European Metals Hldg | 0.84 | 1% | $104,446,553 |
| WES | Wesfarmers Limited | 49.53 | 1% | $55,599,648,794 |
| MIN | Mineral Resources | 73.56 | 1% | $14,176,051,624 |
| AKE | Allkem Limited | 15.91 | 0% | $10,126,010,406 |
| AML | Aeon Metals | 0.017 | 0% | $18,638,811 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| ESS | Essential Metals Ltd | 0.45 | 0% | $120,405,012 |
| INF | Infinity Lithium | 0.1 | 0% | $46,259,209 |
| LIT | Lithium Australia | 0.036 | 0% | $43,962,900 |
| LPI | Lithium Pwr Int Ltd | 0.32 | 0% | $201,356,019 |
| QPM | Queensland Pacific | 0.105 | 0% | $183,366,532 |
| PSC | Prospect Res Ltd | 0.1 | 0% | $46,225,946 |
| RLC | Reedy Lagoon Corp. | 0.006 | 0% | $3,400,318 |
| GL1 | Globallith | 1.485 | 0% | $384,691,527 |
| PAM | Pan Asia Metals | 0.245 | 0% | $38,040,244 |
| AX8 | Accelerate Resources | 0.02 | 0% | $7,592,035 |
| BYH | Bryah Resources Ltd | 0.016 | 0% | $5,465,991 |
| EMS | Eastern Metals | 0.05 | 0% | $1,953,221 |
| FRS | Forrestania Resources | 0.081 | 0% | $4,932,196 |
| MMC | Mitremining | 0.27 | 0% | $10,323,477 |
| CTN | Catalina Resources | 0.0035 | 0% | $4,334,704 |
| TMB | Tambourah Metals | 0.09 | 0% | $3,707,334 |
| WML | Woomera Mining Ltd | 0.013 | 0% | $12,430,096 |
| CRR | Critical Resources | 0.042 | 0% | $66,979,705 |
| LRS | Latin Resources Ltd | 0.2 | 0% | $510,164,317 |
| STM | Sunstone Metals Ltd | 0.024 | 0% | $73,967,637 |
| BNR | Bulletin Res Ltd | 0.06 | 0% | $17,615,466 |
| CAI | Calidus Resources | 0.17 | 0% | $94,814,068 |
| EFE | Eastern Resources | 0.011 | 0% | $13,661,411 |
| SRZ | Stellar Resources | 0.01 | 0% | $10,059,642 |
| LSR | Lodestar Minerals | 0.004 | 0% | $7,373,589 |
| NWM | Norwest Minerals | 0.032 | 0% | $8,884,304 |
| AOA | Ausmon Resorces | 0.004 | 0% | $3,877,157 |
| RGL | Riversgold | 0.014 | 0% | $13,317,660 |
| ZNC | Zenith Minerals Ltd | 0.1 | 0% | $35,238,088 |
| G88 | Golden Mile Res Ltd | 0.051 | 0% | $14,261,801 |
| THR | Thor Energy PLC | 0.0045 | 0% | $6,570,058 |
| M2R | Miramar | 0.05 | 0% | $4,019,087 |
| LLI | Loyal Lithium Ltd | 0.32 | 0% | $19,036,800 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| LIS | Lisenergylimited | 0.28 | 0% | $46,455,972 |
| KTA | Krakatoa Resources | 0.023 | 0% | $8,357,661 |
| TYX | Tyranna Res Ltd | 0.02 | 0% | $62,128,507 |
| DAF | Discovery Alaska Ltd | 0.032 | 0% | $7,495,510 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| DAL | Dalaroo Metals | 0.073 | 0% | $3,162,725 |
| OCN | Oceana Lithium | 0.355 | 0% | $13,907,658 |
| PAT | Patriot Lithium | 0.285 | 0% | $17,495,438 |
| RMX | Red Mount Min Ltd | 0.004 | 0% | $9,087,404 |
| LM1 | Leeuwin Metals Ltd | 0.3 | 0% | $13,435,500 |
| FIN | FIN Resources Ltd | 0.016 | 0% | $9,896,566 |
| EG1 | Evergreen Lithium | 0.355 | 0% | $19,961,650 |
| MAN | Mandrake Res Ltd | 0.039 | 0% | $23,351,637 |
| XTC | Xantippe Res Ltd | 0.003 | 0% | $34,440,299 |
| A11 | Atlantic Lithium | 0.605 | -1% | $371,637,413 |
| JRL | Jindalee Resources | 1.98 | -1% | $114,757,932 |
| RIO | Rio Tinto Limited | 116.54 | -1% | $43,803,513,252 |
| IGO | IGO Limited | 14.9 | -1% | $11,427,171,298 |
| SYA | Sayona Mining Ltd | 0.1825 | -1% | $1,857,240,534 |
| TKM | Trek Metals Ltd | 0.068 | -1% | $30,287,211 |
| PLS | Pilbara Min Ltd | 4.815 | -2% | $14,661,136,782 |
| PLL | Piedmont Lithium Inc | 0.9 | -2% | $395,992,785 |
| DRE | Dreadnought Resources Ltd | 0.051 | -2% | $173,041,867 |
| SGQ | St George Min Ltd | 0.049 | -2% | $42,025,527 |
| GSM | Golden State Mining | 0.048 | -2% | $7,068,946 |
| GW1 | Greenwing Resources | 0.22 | -2% | $33,729,699 |
| AGY | Argosy Minerals Ltd | 0.42 | -2% | $603,895,224 |
| AZL | Arizona Lithium Ltd | 0.042 | -2% | $118,236,099 |
| GT1 | Greentechnology | 0.71 | -3% | $155,473,592 |
| MLS | Metals Australia | 0.033 | -3% | $21,217,230 |
| ASN | Anson Resources Ltd | 0.16 | -3% | $201,884,200 |
| CXO | Core Lithium | 1.0125 | -3% | $1,942,150,050 |
| LNR | Lanthanein Resources | 0.0145 | -3% | $16,823,634 |
| INR | Ioneer Ltd | 0.3575 | -3% | $776,385,159 |
| PNN | Power Minerals Ltd | 0.42 | -3% | $31,465,413 |
| A8G | Australasian Metals | 0.14 | -3% | $7,557,472 |
| LPM | Lithium Plus | 0.28 | -3% | $19,136,578 |
| MRR | Minrex Resources Ltd | 0.013 | -4% | $14,645,711 |
| ARN | Aldoro Resources | 0.125 | -4% | $17,475,087 |
| CY5 | Cygnus Metals Ltd | 0.24 | -4% | $53,535,178 |
| WR1 | Winsome Resources | 1.635 | -4% | $277,027,576 |
| LLO | Lion One Metals Ltd | 0.8 | -4% | $11,007,675 |
| MNS | Magnis Energy Tech | 0.1625 | -4% | $189,606,352 |
| GLN | Galan Lithium Ltd | 0.93 | -5% | $328,492,520 |
| VMC | Venus Metals Cor Ltd | 0.19 | -5% | $36,245,737 |
| VSR | Voltaic Strategic | 0.091 | -5% | $35,467,944 |
| NVA | Nova Minerals Ltd | 0.27 | -5% | $60,103,638 |
| LRD | Lord Resources | 0.09 | -5% | $3,527,551 |
| ALY | Alchemy Resource Ltd | 0.018 | -5% | $22,383,449 |
| LEL | Lithenergy | 0.87 | -5% | $87,409,200 |
| PL3 | Patagonia Lithium | 0.17 | -6% | $8,820,630 |
| WCN | White Cliff Min Ltd | 0.0075 | -6% | $7,672,435 |
| LTR | Liontown Resources | 2.945 | -7% | $6,931,513,449 |
| CHR | Charger Metals | 0.355 | -7% | $18,606,460 |
| AM7 | Arcadia Minerals | 0.14 | -7% | $7,004,684 |
| PGD | Peregrine Gold | 0.26 | -7% | $15,708,731 |
| EVR | Ev Resources Ltd | 0.013 | -7% | $13,103,777 |
| LPD | Lepidico Ltd | 0.012 | -8% | $99,297,989 |
| TEM | Tempest Minerals | 0.012 | -8% | $6,588,681 |
| MXR | Maximus Resources | 0.032 | -9% | $11,166,952 |
| FG1 | Flynngold | 0.063 | -9% | $7,236,274 |
| BMM | Balkan Mining and Minerals | 0.2 | -9% | $10,509,843 |
| KAI | Kairos Minerals Ltd | 0.017 | -11% | $37,317,776 |
| VKA | Viking Mines Ltd | 0.008 | -11% | $9,227,326 |
| YAR | Yari Minerals Ltd | 0.016 | -11% | $8,682,441 |
| AZI | Altamin Limited | 0.065 | -12% | $28,987,040 |
| IEC | Intra Energy Corp | 0.006 | -14% | $4,940,471 |
| LKE | Lake Resources | 0.3925 | -17% | $675,661,236 |
| IMI | Infinity mining | 0.12 | -20% | $11,471,748 |
| ENT | Enterprise Metals | 0.004 | -20% | $3,525,403 |
| ENT | Enterprise Metals | 0.004 | -20% | $3,525,403 |
| AVW | Avira Resources Ltd | 0.002 | -33% | $6,401,370 |
Just 41 lithium stocks rose, while 50 stayed flat. Meanwhile, 57 saw red today.
WHO’S GOT NEWS OUT?
FIRETAIL RESOURCES (ASX:FTL)
FTL has kicked off drilling at its Johnson Well deposit, part of its Yalgoo lithium project in mid-west WA.
Drilling contractor Top Drill has mobilised to site to conduct a ~1,000m RC drill program based off recent rock chip sampling that were assayed to show LCT pegmatites with up to 0.54% Li2O and >1% Rb.
The junior explorer said it looked forward to results from this initial drilling and an expansion of mapping and sampling across the broader project area.
Firetail expects this second drill program to be completed by the end of the month with assays expected to be received in 6-8 weeks.
LAKE RESOURCES (ASX:LKE)
LKE has chosen to stagger the development of Kachi into two stages as a pathway to de-risk the Argentina lithium brine project.
In a phased approach, its targeted 50,000tpa lithium carbonate production will be split into two 25,000tpa stages, saying it would accelerate the timeline to initial production.
Lake CEO David Dickson said the announcement today shows a clear path to production in 2027 and phased expansion to a target of 50ktpa by 2030.
“Our new, phased approach de-risks project execution while ensuring battery-grade lithium carbonate comes to market in a cleaner, efficient way,” Dickson said.
“Over the past nine months, we have applied our extensive expertise in drilling, hydrogeology, and construction of large, specialty chemical projects to comprehensively reassess this project and better position us for success.
“Our findings regarding infrastructure, power, logistics requirements, and our reservoirs resulted in this path to production which will unlock value and maximise execution efficiency.”
At Stockhead, we tell it like it is. While Lake Resources is a Stockhead advertiser, they did not sponsor this article.
