Pic: Via Getty
Eye on Lithium: Albermarle reports eye watering quarterly net sales of US$2.1bn. That’s almost $US1m PER HOUR
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- Oar Resources to acquire lithium project in WA
- Leo Lithium reports thick zones of high-grade mineralisation at Goulamina
- Red Dirt says diamond drilling to begin in November at Yinnetharra
All your lithium news, Thursday November 3.
Albermarle, the world’s top lithium producer, reported a 152pc increase in quarterly net sales totalling US$2.1bn driven by strong lithium pricing and demand for lithium-ion batteries.
Adjusted EBITDA of US$1.2 billion also marked a 447pc increase on the year ago period, with lithium sales more than quadrupling to $1.5 billion due to the opening of new processing plants and several expansion projects underway in China, Chile, Australia and the United States.
Other highlights included net income of $897.2 million, or $7.61 per share, compared with a net loss of $392.8 million, or $3.36 per share, in the year-ago period.
“As one of the world’s largest producers of lithium, we are well positioned to enable the global energy transition,” Albermarle CEO Kent Masters says.
“With our acquisition of the Qinzhou lithium conversion plant in China and mechanical completion of our Kemerton II expansion in Australia, we are on track to more than double our lithium conversion capacity compared to last year.”
Albermarle highlighted ongoing strength in lithium pricing and end markets offsets slightly lower expectations due to bromine-related weakness in key end markets, including consumer and industrial electronics and building and construction.
For stronger focus and better execution on its multiple growth opportunities, the company stated it will be realigning its core portfolio into Energy Storage and Specialties.
Energy Storage will focus on the lithium-ion battery evolution and the transition to clean energy while Albemarle Specialties combines the existing Bromine business with the Lithium specialties business.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| KGD | Kula Gold Limited | 0.036 | 16% | $10,422,570 |
| LSR | Lodestar Minerals | 0.0055 | 10% | $8,692,187 |
| M2R | Miramar | 0.1 | 10% | $6,432,039 |
| LLI | Loyal Lithium Ltd | 0.56 | 10% | $20,420,400 |
| QXR | Qx Resources Limited | 0.084 | 8% | $68,785,261 |
| SRZ | Stellar Resources | 0.014 | 8% | $13,060,202 |
| XTC | Xantippe Res Ltd | 0.0075 | 7% | $57,016,609 |
| RAG | Ragnar Metals Ltd | 0.018 | 6% | $6,446,143 |
| NWM | Norwest Minerals | 0.054 | 6% | $11,327,477 |
| KZR | Kalamazoo Resources | 0.195 | 5% | $27,531,584 |
| TON | Triton Min Ltd | 0.023 | 5% | $30,421,252 |
| CZL | Cons Zinc Ltd | 0.023 | 5% | $10,184,272 |
| EMS | Eastern Metals | 0.13 | 4% | $4,883,052 |
| MXR | Maximus Resources | 0.0435 | 4% | $13,394,042 |
| LNR | Lanthanein Resources | 0.033 | 3% | $30,810,418 |
| GLN | Galan Lithium Ltd | 1.625 | 3% | $481,220,412 |
| NMT | Neometals Ltd | 1.15 | 3% | $618,628,089 |
| EFE | Eastern Resources | 0.039 | 3% | $42,572,957 |
| GSM | Golden State Mining | 0.04 | 3% | $4,563,554 |
| BMM | Balkanminingandmin | 0.32 | 2% | $13,548,388 |
| NVA | Nova Minerals Ltd | 0.8125 | 2% | $146,929,020 |
| QPM | Queensland Pacific | 0.1675 | 2% | $285,493,958 |
| PSC | Prospect Res Ltd | 0.095 | 1% | $43,452,389 |
| RDT | Red Dirt Metals Ltd | 0.52 | 1% | $171,355,515 |
| ADV | Ardiden Ltd | 0.007 | 0% | $18,678,347 |
| AML | Aeon Metals Ltd. | 0.024 | 0% | $26,242,339 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| LIT | Lithium Australia | 0.049 | 0% | $59,837,902 |
| TKL | Traka Resources | 0.006 | 0% | $4,132,647 |
| AAJ | Aruma Resources Ltd | 0.07 | 0% | $10,987,305 |
| PAM | Pan Asia Metals | 0.4 | 0% | $58,742,236 |
| AX8 | Accelerate Resources | 0.029 | 0% | $7,843,308 |
| DTM | Dart Mining NL | 0.068 | 0% | $10,557,691 |
| FG1 | Flynngold | 0.105 | 0% | $6,726,410 |
| MMC | Mitremining | 0.18 | 0% | $4,875,318 |
| SHH | Shree Minerals Ltd | 0.0075 | 0% | $9,288,652 |
| TMB | Tambourahmetals | 0.13 | 0% | $5,355,038 |
| TSC | Twenty Seven Co. Ltd | 0.002 | 0% | $10,643,256 |
| WR1 | Winsome Resources | 0.815 | 0% | $110,117,905 |
| MTM | Mtmongerresources | 0.098 | 0% | $3,675,983 |
| SCN | Scorpion Minerals | 0.07 | 0% | $23,359,433 |
| ENT | Enterprise Metals | 0.009 | 0% | $5,876,826 |
| KAI | Kairos Minerals Ltd | 0.03 | 0% | $58,922,805 |
| PGD | Peregrine Gold | 0.45 | 0% | $17,424,700 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| BNR | Bulletin Res Ltd | 0.125 | 0% | $36,573,888 |
| RMX | Red Mount Min Ltd | 0.005 | 0% | $8,211,819 |
| MRR | Minrex Resources Ltd | 0.042 | 0% | $45,508,751 |
| A8G | Australasian Metals | 0.23 | 0% | $9,469,214 |
| MQR | Marquee Resource Ltd | 0.059 | 0% | $18,739,437 |
| AOA | Ausmon Resorces | 0.007 | 0% | $6,001,025 |
| VKA | Viking Mines Ltd | 0.008 | 0% | $8,202,067 |
| IPT | Impact Minerals | 0.007 | 0% | $17,369,594 |
| SRI | Sipa Resources Ltd | 0.053 | 0% | $10,866,315 |
| ZNC | Zenith Minerals Ltd | 0.285 | 0% | $98,257,250 |
| G88 | Golden Mile Res Ltd | 0.022 | 0% | $4,500,975 |
| EPM | Eclipse Metals | 0.018 | 0% | $36,436,623 |
| EVR | Ev Resources Ltd | 0.022 | 0% | $20,371,650 |
| THR | Thor Mining PLC | 0.008 | 0% | $8,814,388 |
| DRE | Dreadnought Resources Ltd | 0.115 | 0% | $351,061,828 |
| MM1 | Midasmineralsltd | 0.195 | 0% | $11,140,694 |
| LRD | Lordresourceslimited | 0.295 | 0% | $9,818,963 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| AUN | Aurumin | 0.084 | 0% | $10,525,800 |
| ZEO | Zeotech Limited | 0.038 | 0% | $61,352,248 |
| ALY | Alchemy Resource Ltd | 0.034 | 0% | $39,884,593 |
| GW1 | Greenwing Resources | 0.315 | 0% | $39,754,721 |
| DAF | Discovery Alaska Ltd | 0.03 | 0% | $6,727,041 |
| IR1 | Irismetals | 1.5 | 0% | $94,095,000 |
| DAL | Dalaroometalsltd | 0.13 | 0% | $3,883,750 |
| CMD | Cassius Mining Ltd | 0.03 | 0% | $12,112,227 |
| JRL | Jindalee Resources | 2.385 | -1% | $137,709,518 |
| AGY | Argosy Minerals Ltd | 0.515 | -1% | $727,944,878 |
| CY5 | Cygnus Gold Limited | 0.495 | -1% | $76,712,658 |
| OCN | Oceanalithiumlimited | 0.49 | -1% | $16,594,875 |
| ESS | Essential Metals Ltd | 0.46 | -1% | $117,074,737 |
| PLS | Pilbara Min Ltd | 5.045 | -1% | $15,235,433,414 |
| CHR | Charger Metals | 0.445 | -1% | $19,622,716 |
| AZI | Altamin Limited | 0.086 | -1% | $34,079,357 |
| LIS | Lisenergylimited | 0.405 | -1% | $68,024,817 |
| EMH | European Metals Hldg | 0.785 | -1% | $94,668,030 |
| TUL | Tulla Resources | 0.38 | -1% | $61,683,496 |
| GL1 | Globallith | 2.25 | -1% | $361,832,024 |
| MNS | Magnis Energy Tech | 0.37 | -1% | $363,874,306 |
| GT1 | Greentechnology | 0.965 | -2% | $186,923,625 |
| ARN | Aldoro Resources | 0.28 | -2% | $31,517,385 |
| AZL | Arizona Lithium Ltd | 0.0785 | -2% | $192,794,045 |
| LPI | Lithium Pwr Int Ltd | 0.495 | -2% | $197,556,569 |
| MIN | Mineral Resources. | 70.98 | -2% | $13,753,378,341 |
| SYA | Sayona Mining Ltd | 0.225 | -2% | $1,912,245,907 |
| 1MC | Morella Corporation | 0.0205 | -2% | $121,832,672 |
| EUR | European Lithium Ltd | 0.1025 | -2% | $151,645,113 |
| INF | Infinity Lithium | 0.2 | -2% | $85,423,453 |
| AKE | Allkem Limited | 14.085 | -3% | $9,214,159,343 |
| IGO | IGO Limited | 14.725 | -3% | $11,442,316,654 |
| RIO | Rio Tinto Limited | 90.22 | -3% | $34,385,757,903 |
| MLS | Metals Australia | 0.037 | -3% | $23,067,375 |
| LTR | Liontown Resources | 1.82 | -3% | $4,107,334,105 |
| CXO | Core Lithium | 1.3575 | -3% | $2,559,156,378 |
| LRV | Larvottoresources | 0.18 | -3% | $9,232,518 |
| FTL | Firetail Resources | 0.17 | -3% | $10,811,938 |
| ASN | Anson Resources Ltd | 0.31 | -3% | $375,930,849 |
| KTA | Krakatoa Resources | 0.06 | -3% | $21,372,015 |
| TEM | Tempest Minerals | 0.029 | -3% | $15,142,985 |
| WES | Wesfarmers Limited | 45.235 | -3% | $53,063,723,326 |
| INR | Ioneer Ltd | 0.565 | -3% | $1,227,408,434 |
| CRR | Critical Resources | 0.055 | -4% | $84,940,696 |
| VUL | Vulcan Energy | 7.1 | -4% | $1,054,947,815 |
| LEL | Lithenergy | 1.08 | -4% | $67,368,000 |
| AS2 | Askarimetalslimited | 0.395 | -4% | $20,229,040 |
| WML | Woomera Mining Ltd | 0.013 | -4% | $10,570,323 |
| PNN | Power Minerals Ltd | 0.5 | -4% | $37,521,657 |
| CAI | Calidus Resources | 0.365 | -4% | $166,357,048 |
| LLL | Leolithiumlimited | 0.6625 | -4% | $680,793,269 |
| RGL | Riversgold | 0.043 | -4% | $34,933,547 |
| TYX | Tyranna Res Ltd | 0.043 | -4% | $108,199,140 |
| LKE | Lake Resources | 1.065 | -4% | $1,550,852,061 |
| RLC | Reedy Lagoon Corp. | 0.0105 | -5% | $6,131,696 |
| BYH | Bryah Resources Ltd | 0.021 | -5% | $6,187,576 |
| LRS | Latin Resources Ltd | 0.105 | -5% | $219,656,742 |
| PLL | Piedmont Lithium Inc | 0.935 | -5% | $517,019,384 |
| WCN | White Cliff Min Ltd | 0.017 | -6% | $13,456,861 |
| VMC | Venus Metals Cor Ltd | 0.17 | -6% | $28,814,163 |
| IMI | Infinitymining | 0.23 | -6% | $15,464,094 |
| TKM | Trek Metals Ltd | 0.058 | -6% | $19,257,829 |
| RAS | Ragusa Minerals Ltd | 0.21 | -7% | $29,477,841 |
| LPD | Lepidico Ltd | 0.0185 | -8% | $131,644,325 |
| FRS | Forrestaniaresources | 0.22 | -8% | $12,100,757 |
| AM7 | Arcadia Minerals | 0.26 | -9% | $13,308,899 |
| STM | Sunstone Metals Ltd | 0.031 | -9% | $88,279,178 |
| A11 | Atlantic Lithium | 0.86 | -9% | $572,425,869 |
| WC8 | Wildcat Resources | 0.03 | -9% | $21,508,500 |
| AOU | Auroch Minerals Ltd | 0.05 | -9% | $20,411,149 |
24 companies finished in the green, 47 fell flat and 62 tumbled into red territory.
Who’s got news out?
OAR RESOURCES (ASX:OAR)
Chaired by well-known mining exec Chris Gale, Oar Resources has revealed an agreement to acquire a lithium project consisting of one granted and two pending tenements near Wiluna in WA’s northern Goldfields region.
The project is targeting pegmatite hosted lithium mineralisation, with initial indications pointing to the existence of Lithium-Caesium-tantalum (LCT) pegmatites, OAR says.
This type of pegmatite is the same host rock found at several key lithium projects including Pilbara Minerals’ Pilgangoora project and Talison’s Greenbushes operation.
According to Gale, the project adds to its strategy of developing the business into a battery metals focused company.
“OAR currently has a graphite project in South Australia, now with a lithium project in our stable we have two key battery metal elements to focus on, then hopefully develop to the next stage of drilling out a resource,” he says.
LEO LITHIUM (ASX:LLL)
Resource drilling results at the Danya Domain within the Goulamina Lithium Project in Mali, West Africa has revealed thick zones of high-grade mineralisation with spodumene pegmatite intersections greater than 60m, LLL says.
Hits include 72m at 1.77% Li2O from 71m, including 18m at 2.93% Li2O as well as 118m at 1.53 Li2O from 48m and 69m at 1.67% Li2O from 89m.
“These interim results from our Danaya drilling program have exceeded our expectations,” Leo Lithium managing director Simon Hay says.
“Not only have some very wide pegmatite zones been intersected, but the weighted-average-grade of all assayed intercepts received to date is higher than the current Danaya resource grade (1.57 percent Li2O versus 1.35 percent Li2O).
“The Perth based geology team is presently incorporating the new data into the geological interpretation in preparation a new mineral resource estimate for the Danaya Domain to be released by the end of December 2022.”
RED DIRT METALS (ASX:RDT)
Red Dirt says a program of diamond drilling is set to begin in November at the Yinnetharra Lithium project in WA’s Gascoyne where preliminary work has identified 44 outcropping pegmatites from reconnaissance mapping, rock chips and historical drilling.
Multiple drill targets are scheduled with “excellent access and minimal site preparation required” RDT says with pegmatites mapped at surface with interpreted widths of 60m in outcrop and up to 700m in length, including historical intercepts to 80m vertical depth.
The primary objective of the program is to understand potential system extents and size, structural controls on pegmatite emplacement and produce initial samples for metallurgical and petrological studies.
“We believe Yinnetharra is an asset with immense exploration potential,” RDT managing director Matthew Boyes says.
“The fact that we will have a drill rig on the ground only two months after completing the acquisition is another demonstration of the execution ability of the team.”
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