- Allkem posted record production for June Qtr, expects prices to increase
- Leo Lithium secures US$40 million debt facility for the Goulamina Lithium Project
- Galan Lithium plans to kick off Environmental Impact Assessment at Argentinan project
All your ASX lithium news for Tuesday, July 19
Lithium miners are raking in the cash lately despite Goldman Sachs’ bear call.
Chinese battery makers are still willing to pay upwards of US$70,000/t to get chemicals for electric vehicles in a tight market.
Last week Pilbara Minerals (ASX:PLS) raked in US$6188/dmt for a 5.5% Li2O cargo of spodumene in its latest auction – down from the US$7017/t 6% price received in a pre-auction bid last month – but still extraordinary given the first auction last July garnered a price of just US$1250/dmt.
And today, notwithstanding some operational issues with grades, Covid, recoveries and stripping ratios at its Mt Cattlin spodumene mine, Allkem (ASX:AKE) says it produced a record 193,563t of spodumene concentrate in FY22.
That included just 24,845t in the June quarter (37,8437dmt of shipments), but still generated record revenue of US$188.9m with a remarkable gross margin of 84% on average pricing of US$4992/dmt for spodumene at a grade of 5.4%.
As Stockhead’s Josh Chiat points out, that price is remarkable because it’s well over double the US$2178/dmt Allkem pulled in the March quarter.
Plus, at 5.4% it is well below the benchmark 6% Li2O grade normally referenced in spot pricing and revenue significantly outstripped the previous quarter’s US$143.8m on much weaker production.
The company says it expects to see relatively stable prices in lithium chemicals, carbonates and hydroxide and a continued increase in spodumene prices for the September quarter.
And they’re not alone in that prediction.
Here’s how ASX lithium stocks were tracking today:
Lithium stocks missing from our list? Shoot a friendly mail to emma.davies@stockhead.com.au
| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| TON | Triton Min Ltd | 0.027 | 13% | 69% | 54% | $22,028,723.10 |
| ADV | Ardiden Ltd | 0.008 | 0% | 14% | 23% | $17,344,179.81 |
| EPM | Eclipse Metals | 0.022 | 0% | 16% | 22% | $34,580,275.43 |
| LNR | Lanthanein Resources | 0.016 | -6% | 14% | 14% | $11,729,557.98 |
| ESS | Essential Metals Ltd | 0.405 | 9% | 17% | 11% | $89,967,910.13 |
| LTR | Liontown Resources | 1.12 | 8% | 20% | 11% | $2,214,147,449.98 |
| AX8 | Accelerate Resources | 0.032 | 3% | 10% | 10% | $7,843,308.07 |
| IR1 | Irismetals | 0.27 | -7% | -4% | 10% | $14,608,125.00 |
| MMG | Monger Gold Ltd | 0.22 | -12% | -4% | 10% | $8,008,000.00 |
| KGD | Kula Gold Limited | 0.034 | 36% | 6% | 10% | $6,670,444.59 |
| MRR | Minrex Resources Ltd | 0.034 | -8% | 6% | 10% | $32,864,555.79 |
| INF | Infinity Lithium | 0.12 | -11% | 4% | 9% | $45,651,437.26 |
| LSR | Lodestar Minerals | 0.0065 | -7% | -7% | 8% | $10,430,624.09 |
| CRR | Critical Resources | 0.04 | -13% | 8% | 8% | $55,056,563.84 |
| GLN | Galan Lithium Ltd | 1.07 | -1% | 12% | 8% | $301,355,368.38 |
| GT1 | Greentechnology | 0.62 | -14% | 2% | 8% | $105,955,044.73 |
| LRV | Larvottoresources | 0.21 | -13% | 17% | 8% | $8,098,837.50 |
| AOA | Ausmon Resorces | 0.007 | 17% | 40% | 8% | $5,572,380.73 |
| CXO | Core Lithium | 1 | -14% | 17% | 8% | $1,611,890,615.88 |
| MXR | Maximus Resources | 0.05 | 4% | 14% | 8% | $14,782,618.21 |
| ARN | Aldoro Resources | 0.15 | 3% | 0% | 7% | $13,921,224.38 |
| ALY | Alchemy Resource Ltd | 0.015 | -21% | -9% | 7% | $13,343,036.80 |
| SRZ | Stellar Resources | 0.017 | -11% | 13% | 6% | $13,428,842.02 |
| VMC | Venus Metals Cor Ltd | 0.17 | -6% | 6% | 6% | $25,612,589.28 |
| AAJ | Aruma Resources Ltd | 0.069 | 3% | 9% | 6% | $10,202,497.70 |
| PLL | Piedmont Lithium Inc | 0.525 | -26% | 5% | 6% | $261,147,546.00 |
| LEL | Lithenergy | 0.705 | -13% | 7% | 6% | $30,024,750.00 |
| 1MC | Morella Corporation | 0.018 | 6% | 0% | 6% | $87,995,637.76 |
| MIN | Mineral Resources. | 47.72 | -8% | 6% | 6% | $8,549,559,379.54 |
| GL1 | Globallith | 1.11 | -9% | 6% | 6% | $166,633,168.80 |
| MM1 | Midasmineralsltd | 0.19 | -14% | -3% | 6% | $10,283,717.52 |
| INR | Ioneer Ltd | 0.49 | 29% | 13% | 5% | $975,287,724.54 |
| AGY | Argosy Minerals Ltd | 0.3475 | 2% | 10% | 5% | $447,496,825.71 |
| RLC | Reedy Lagoon Corp. | 0.02 | 11% | 18% | 5% | $10,591,111.33 |
| PLS | Pilbara Min Ltd | 2.475 | 18% | 10% | 5% | $7,025,362,186.24 |
| FTL | Firetail Resources | 0.22 | -28% | -2% | 5% | $12,974,325.00 |
| MTM | Mtmongerresources | 0.115 | 0% | -4% | 5% | $4,126,103.63 |
| VUL | Vulcan Energy | 6.44 | 20% | 23% | 4% | $885,812,160.18 |
| GSM | Golden State Mining | 0.05 | 22% | 19% | 4% | $5,588,223.31 |
| DRE | Dreadnought Resources Ltd | 0.05 | 19% | 11% | 4% | $136,256,810.45 |
| EFE | Eastern Resources | 0.026 | 13% | 8% | 4% | $24,860,915.78 |
| ZNC | Zenith Minerals Ltd | 0.275 | -8% | 8% | 4% | $91,362,003.94 |
| AML | Aeon Metals Ltd. | 0.028 | 22% | -7% | 4% | $26,760,545.72 |
| QPM | Queensland Pacific | 0.14 | 33% | 12% | 4% | $211,087,772.69 |
| RGL | Riversgold | 0.028 | -3% | 8% | 4% | $20,422,151.97 |
| LPI | Lithium Pwr Int Ltd | 0.425 | 10% | 5% | 4% | $143,149,387.68 |
| NMT | Neometals Ltd | 0.995 | 2% | 6% | 4% | $526,441,340.16 |
| IGO | IGO Limited | 9.85 | -7% | 2% | 3% | $7,209,189,579.76 |
| AOU | Auroch Minerals Ltd | 0.06 | -10% | -5% | 3% | $21,442,704.34 |
| MNS | Magnis Energy Tech | 0.305 | 3% | 5% | 3% | $285,113,172.06 |
| SYA | Sayona Mining Ltd | 0.155 | 11% | 19% | 3% | $1,237,012,900.50 |
| TMB | Tambourahmetals | 0.155 | 3% | 15% | 3% | $6,178,889.70 |
| RIO | Rio Tinto Limited | 98.6 | -8% | 3% | 3% | $35,529,103,841.94 |
| RAG | Ragnar Metals Ltd | 0.037 | -10% | -8% | 3% | $13,650,656.00 |
| WR1 | Winsome Resources | 0.185 | -16% | -5% | 3% | $24,320,518.92 |
| PAM | Pan Asia Metals | 0.39 | -20% | -4% | 3% | $28,089,691.96 |
| AZL | Arizona Lithium Ltd | 0.081 | -19% | -1% | 3% | $176,446,262.21 |
| AS2 | Askarimetalslimited | 0.23 | -12% | 0% | 2% | $9,358,710.75 |
| TEM | Tempest Minerals | 0.046 | 24% | 12% | 2% | $22,714,477.92 |
| MLS | Metals Australia | 0.047 | -8% | 7% | 2% | $26,129,664.79 |
| DAF | Discovery Alaska Ltd | 0.047 | -6% | 7% | 2% | $10,314,796.11 |
| WES | Wesfarmers Limited | 47.06 | 14% | 5% | 2% | $52,281,373,558.62 |
| QXR | Qx Resources Limited | 0.0285 | -2% | 6% | 2% | $24,062,144.99 |
| CAI | Calidus Resources | 0.62 | -9% | 3% | 2% | $248,776,884.38 |
| LRS | Latin Resources Ltd | 0.072 | 9% | 11% | 1% | $138,108,474.38 |
| AKE | Allkem Limited | 9.935 | 1% | 4% | 1% | $6,249,049,242.80 |
| PSC | Prospect Res Ltd | 0.99 | 2% | 1% | 1% | $453,014,272.76 |
| MQR | Marquee Resource Ltd | 0.0655 | -2% | 2% | 1% | $20,515,142.70 |
| ASN | Anson Resources Ltd | 0.13 | 24% | 18% | 0% | $133,628,603.55 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203.44 |
| LPD | Lepidico Ltd | 0.03 | 11% | 11% | 0% | $195,215,145.99 |
| TKL | Traka Resources | 0.005 | -38% | -17% | 0% | $3,443,872.81 |
| BMM | Balkanminingandmin | 0.19 | 0% | 9% | 0% | $6,222,500.00 |
| AM7 | Arcadia Minerals | 0.145 | -17% | -3% | 0% | $6,771,194.34 |
| BYH | Bryah Resources Ltd | 0.028 | -18% | -3% | 0% | $6,333,800.90 |
| DTM | Dart Mining NL | 0.062 | 5% | -7% | 0% | $8,386,129.92 |
| EMS | Eastern Metals | 0.13 | 0% | -13% | 0% | $4,628,000.00 |
| IMI | Infinitymining | 0.13 | 0% | -7% | 0% | $7,475,000.00 |
| MMC | Mitremining | 0.125 | 4% | -4% | 0% | $3,385,637.50 |
| SHH | Shree Minerals Ltd | 0.008 | 0% | 14% | 0% | $9,907,895.14 |
| TSC | Twenty Seven Co. Ltd | 0.003 | 0% | 20% | 0% | $7,982,441.72 |
| WCN | White Cliff Min Ltd | 0.013 | -32% | 0% | 0% | $8,496,843.71 |
| WML | Woomera Mining Ltd | 0.015 | -17% | -6% | 0% | $10,302,495.99 |
| PNN | Power Minerals Ltd | 0.42 | -8% | 4% | 0% | $25,837,083.30 |
| AZI | Altamin Limited | 0.096 | 1% | 1% | 0% | $37,604,808.19 |
| ENT | Enterprise Metals | 0.01 | -9% | 0% | 0% | $6,446,468.55 |
| KAI | Kairos Minerals Ltd | 0.023 | 15% | 5% | 0% | $45,128,150.29 |
| AVW | Avira Resources Ltd | 0.003 | -14% | 0% | 0% | $6,356,370.00 |
| NVA | Nova Minerals Ltd | 0.715 | 19% | 4% | 0% | $128,844,633.78 |
| BNR | Bulletin Res Ltd | 0.11 | -15% | 0% | 0% | $32,185,021.00 |
| RMX | Red Mount Min Ltd | 0.007 | 40% | 40% | 0% | $11,496,547.01 |
| A8G | Australasian Metals | 0.225 | 7% | 13% | 0% | $9,263,361.15 |
| NWM | Norwest Minerals | 0.031 | 3% | 0% | 0% | $5,598,829.00 |
| IPT | Impact Minerals | 0.008 | 0% | 0% | 0% | $19,850,964.45 |
| SRI | Sipa Resources Ltd | 0.038 | 9% | -5% | 0% | $7,790,942.51 |
| G88 | Golden Mile Res Ltd | 0.028 | -30% | -3% | 0% | $5,704,513.19 |
| EVR | Ev Resources Ltd | 0.028 | 8% | 8% | 0% | $25,927,553.99 |
| WC8 | Wildcat Resources | 0.025 | -17% | 0% | 0% | $16,131,818.18 |
| CZL | Cons Zinc Ltd | 0.02 | 0% | 0% | 0% | $7,267,156.26 |
| M2R | Miramar | 0.087 | 6% | -3% | 0% | $5,584,239.68 |
| XTC | Xantippe Res Ltd | 0.008 | -11% | 14% | 0% | $63,689,188.51 |
| LRD | Lordresourceslimited | 0.2 | 11% | 0% | 0% | $6,356,924.20 |
| WMC | Wiluna Mining Corp | 0.205 | -41% | -5% | 0% | $74,238,030.68 |
| AUN | Aurumin | 0.15 | 15% | 0% | 0% | $16,383,487.80 |
| KTA | Krakatoa Resources | 0.05 | -7% | 2% | 0% | $17,235,495.85 |
| DAL | Dalaroometalsltd | 0.1 | 5% | -13% | 0% | $2,987,500.00 |
| TKM | Trek Metals Ltd | 0.059 | -6% | 7% | 0% | $18,325,998.85 |
| CY5 | Cygnus Gold Limited | 0.15 | -3% | 0% | 0% | $17,697,797.25 |
| TUL | Tulla Resources | 0.55 | 7% | 3% | 0% | $88,119,279.60 |
| EMH | European Metals Hldg | 0.785 | 9% | 15% | -1% | $94,691,664.14 |
| LIS | Lisenergylimited | 0.755 | 72% | 34% | -1% | $126,094,782.12 |
| LLL | Leolithiumlimited | 0.42 | 0% | 9% | -1% | $419,329,187.60 |
| EUR | European Lithium Ltd | 0.07 | 23% | 1% | -1% | $98,298,890.32 |
| LKE | Lake Resources | 0.7 | -55% | 4% | -1% | $986,694,033.26 |
| LIT | Lithium Australia | 0.068 | -3% | -3% | -1% | $71,443,243.43 |
| JRL | Jindalee Resources | 2.46 | -14% | -5% | -2% | $143,447,415.00 |
| STM | Sunstone Metals Ltd | 0.047 | 18% | 7% | -2% | $124,629,428.11 |
| KZR | Kalamazoo Resources | 0.2 | -20% | -18% | -2% | $29,764,846.67 |
| SCN | Scorpion Minerals | 0.067 | -7% | -9% | -3% | $22,896,352.25 |
| RDT | Red Dirt Metals Ltd | 0.32 | -12% | -9% | -3% | $100,502,960.58 |
| OCN | Oceanalithiumlimited | 0.48 | 0% | 39% | -3% | $16,594,875.00 |
| CHR | Charger Metals | 0.45 | 22% | 5% | -3% | $15,150,181.28 |
| RAS | Ragusa Minerals Ltd | 0.076 | -20% | -10% | -4% | $9,933,156.32 |
| FG1 | Flynngold | 0.096 | -26% | -23% | -4% | $6,406,105.00 |
| ZEO | Zeotech Limited | 0.047 | -6% | 4% | -4% | $74,720,858.03 |
| TYX | Tyranna Res Ltd | 0.02 | 18% | 5% | -5% | $32,179,574.01 |
| PGD | Peregrine Gold | 0.42 | 18% | 4% | -6% | $17,037,567.71 |
| THR | Thor Mining PLC | 0.01 | 11% | 0% | -9% | $11,757,910.70 |
| GW1 | Greenwing Resources | 0.215 | -7% | -2% | -10% | $29,579,363.76 |
| FRS | Forrestaniaresources | 0.13 | -16% | -19% | -13% | $4,662,945.60 |
| VKA | Viking Mines Ltd | 0.006 | -14% | -14% | -14% | $7,176,809.02 |
A total of 68 stocks were in the green today, 41 were flat and 22 were red.
Who’s got news out today?
The company has agreed to terms with JV partner Ganfeng Lithium on an expandable US$40 million debt facility for the Goulamina Lithium Project.
LLL says the completion of the facility agreement places it in the robust position of having sufficient funds to cover its share of the Stage 1 development capital costs for the project – which are currently estimated at US$255 million.
Plus, it completes the company’s initial offtake marketing efforts and secures Ganfeng 100% of the spodumene product offtake from Stage 1 of the Project.
“The finalisation of the debt funding package from Ganfeng significantly de-risks development and means we are now able to fully focus on accelerating development work on the Goulamina Project as we jointly bring Goulamina into production,” MD Simon Hay said.
Galan has appointed Ausenco as the Environmental Impact Assessment (EIA) consultant for its Hombre Muerto West Lithium Project in Catamarca Province, Argentina.
If you don’t speak Spanish that translates as Dead Man West but probably has nothing to do with a real dead man. We hope.
Anyway, the EIA is part of the Definitive Feasibility Study (DFS) and should kick off in around two weeks.
MD Juan Pablo Vargas de la Vega says Ausenco’s record and professional standing within the mining industry is second to none and “they will be ably supported by their local Argentinian representatives who have a strong working knowledge of the Catamarca environs.”
LLL and GLN share prices today:
At Stockhead we tell it like it is. While Galan Lithium is a Stockhead advertiser, it did not sponsor this article.