• Albemarle partners up with Ford to supply 100,000tpa of LCE for EVs
  • EV sales growth is gangbusters, not stagnating, says Thematica
  • ExxonMobil buys huge lithium project in Arkansas, stays quiet
  • Lithium juniors still at it in the Americas

All your lithium news, Tuesday, May 23. 

 

Electric vehicles are the flavour of the day, with a couple of big announcements by major car makers and materials providers hitting the market.

US lithium giant Albemarle has inked a deal with Ford Motor Company to supply lithium hydroxide (LiOH) to the carmaker in a five-year deal.

Albemarle will supply 100,000t of LiOH that will go into about 3 million Ford EV batteries.

It is unknown if the refined lithium will come from Australia, however we do know the producer has committed to doubling capacity at its Kemerton plant in WA. 

“With the growing demand for EVs in the United States, our customers are seeking to regionalise their supply chain for greater security, sustainability and lower costs,” Albemarle’s energy storage president Eric Norris noted.

In addition to the lithium hydroxide supply, Albemarle and Ford will explore collaborations to develop a closed-loop solution for lithium-ion battery recycling.

This is in line with Albemarle’s announced commitment that will only supply lithium hydroxide sourced from mines that have been accredited through an audit based on the Initiative for Responsible Mining Assurance (IRMA), a standard developed by NGOs, affected local communities and workers, among others.

 

Oil & Gas major throws pocket change at lithium brines project

Meanwhile, oil and gas major ExxonMobil just bought a chunk of land in lithium-rich Arkansas for US$100 million.

It acquired the 120,000 acre Smackover formation project from US explorer Galvanic Energy, which is purported to contain 4 million tonnes of lithium carbonate equivalent.

ExxonMobil has long touted diversifying its portfolio to expose it to rapidly growing markets such as lithium and other battery metals, however its main focus will remain on hydrocarbons. 

You’d think Exxon would have released its own statement to the market about its shift into battery material production, yet so far it has declined to comment on the purchase. 

 

EV sales to hit ~15m this year, up from 10.8m in 2022

New research from Thematica says that the notion of fading EV sales fails to capture the complete picture, as it reckons what may appear as fading demand is actually established seasonal patterns observed year-on-year (YoY). 

They prefer to assess demand based on previous corresponding quarterly periods, such as impressive January to April sales of  776,631 EV’s indicating a YoY growth rate of 94.3% compared to the same period last year.

They estimate 14.7 million EV units will be sold this year, compared to 10.8m units in 2022.

Here’s how ASX lithium stocks are tracking:

Code Company Price % Today Market Cap
AX8 Accelerate Resources 0.023 28% $6,796,832
QXR Qx Resources Limited 0.041 14% $32,287,044
RAG Ragnar Metals Ltd 0.018 13% $6,066,958
XTC Xantippe Res Ltd 0.0045 13% $45,920,399
VSR Voltaic Strategic 0.0705 12% $23,275,838
MTM MTM Critical Metals 0.12 9% $9,719,331
SGQ St George Min Ltd 0.041 8% $31,939,401
EPM Eclipse Metals 0.014 8% $26,364,777
AZI Altamin Limited 0.075 7% $27,420,173
MM1 Midasmineralsltd 0.18 6% $9,712,400
CAI Calidus Resources 0.19 6% $98,886,207
CHR Charger Metals 0.57 6% $23,605,759
DLI Delta Lithium 0.7 5% $299,862,347
GT1 Greentechnology 0.75 5% $136,377,951
ZEO Zeotech Limited 0.047 4% $73,831,755
SCN Scorpion Minerals 0.073 4% $24,199,433
FTL Firetail Resources 0.088 4% $6,545,000
TON Triton Min Ltd 0.033 3% $49,963,379
BNR Bulletin Res Ltd 0.071 3% $20,257,786
BYH Bryah Resources Ltd 0.018 3% $4,921,936
PAT Patriot Lithium 0.25 2% $14,917,438
BMM Balkanminingandmin 0.255 2% $11,943,004
WR1 Winsome Resources 1.965 2% $313,064,368
NMT Neometals Ltd 0.575 2% $312,298,764
TUL Tulla Resources 0.335 2% $106,195,321
INR Ioneer Ltd 0.36 1% $744,910,085
EG1 Evergreenlithium 0.435 1% $24,178,900
AKE Allkem Limited 15.125 1% $9,564,871,290
FRS Forrestaniaresources 0.0725 1% $4,384,174
RIO Rio Tinto Limited 109.72 0% $40,551,659,217
ADV Ardiden Ltd 0.007 0% $18,818,347
1MC Morella Corporation 0.0095 0% $57,936,514
ASN Anson Resources Ltd 0.195 0% $238,590,418
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
EUR European Lithium Ltd 0.1 0% $148,923,918
INF Infinity Lithium 0.11 0% $50,885,130
LIT Lithium Australia 0.035 0% $42,741,709
LPD Lepidico Ltd 0.009 0% $68,739,953
RLC Reedy Lagoon Corp. 0.006 0% $3,400,318
TKL Traka Resources 0.006 0% $5,227,976
PAM Pan Asia Metals 0.26 0% $40,369,239
AM7 Arcadia Minerals 0.16 0% $7,471,663
GSM Golden State Mining 0.032 0% $3,744,455
IMI Infinitymining 0.135 0% $10,324,573
CTN Catalina Resources 0.004 0% $4,953,948
TEM Tempest Minerals 0.016 0% $8,109,146
WCN White Cliff Min Ltd 0.007 0% $6,713,381
WML Woomera Mining Ltd 0.014 0% $13,386,257
AZL Arizona Lithium Ltd 0.047 0% $126,475,388
KGD Kula Gold Limited 0.015 0% $5,598,179
KAI Kairos Minerals Ltd 0.02 0% $39,281,870
AVW Avira Resources Ltd 0.003 0% $6,401,370
NVA Nova Minerals Ltd 0.33 0% $69,593,626
A8G Australasian Metals 0.14 0% $7,296,869
EFE Eastern Resources 0.0115 0% $14,282,384
MQR Marquee Resource Ltd 0.024 0% $7,852,980
LSR Lodestar Minerals 0.0055 0% $10,138,685
VKA Viking Mines Ltd 0.008 0% $8,202,067
SRI Sipa Resources Ltd 0.02 0% $4,563,163
RGL Riversgold 0.017 0% $16,072,951
G88 Golden Mile Res Ltd 0.018 0% $4,741,780
EVR Ev Resources Ltd 0.016 0% $14,975,745
MNS Magnis Energy Tech 0.19 0% $207,240,009
YAR Yari Minerals Ltd 0.019 0% $9,164,798
M2R Miramar 0.05 0% $4,019,087
LLI Loyal Lithium Ltd 0.32 0% $19,036,800
LRD Lordresourceslimited 0.125 0% $4,641,515
WMC Wiluna Mining Corp 0.205 0% $74,238,031
ALY Alchemy Resource Ltd 0.017 0% $20,027,296
KTA Krakatoa Resources 0.024 0% $8,721,038
IR1 Irismetals 1.16 0% $74,506,800
LNR Lanthanein Resources 0.015 0% $16,823,634
DAL Dalaroometalsltd 0.056 0% $1,673,000
TKM Trek Metals Ltd 0.0745 0% $27,113,909
OCN Oceanalithiumlimited 0.31 0% $12,144,715
CMD Cassius Mining Ltd 0.02 0% $8,169,858
BUR Burleyminerals 0.295 0% $18,117,234
RMX Red Mount Min Ltd 0.004 0% $9,087,404
FIN FIN Resources Ltd 0.015 0% $9,278,030
DTM Dart Mining NL 0.058 0% $9,992,659
NIS Nickelsearch 0.058 0% $3,509,314
LRD Lordresourceslimited 0.125 0% $4,641,515
IEC Intra Energy Corp 0.006 0% $4,234,690
PLL Piedmont Lithium Inc 0.875 -1% $380,845,520
IGO IGO Limited 14.795 -1% $11,268,145,057
MIN Mineral Resources. 74.27 -1% $14,487,352,716
LLL Leolithiumlimited 0.75 -1% $744,925,969
A11 Atlantic Lithium 0.61 -1% $374,683,621
LTR Liontown Resources 2.745 -1% $6,095,330,874
PLS Pilbara Min Ltd 4.765 -1% $14,421,256,368
JRL Jindalee Resources 2.04 -1% $118,200,670
LEL Lithenergy 0.99 -1% $95,010,000
ESS Essential Metals Ltd 0.485 -1% $131,107,680
WES Wesfarmers Limited 50.195 -1% $57,663,515,015
LPI Lithium Pwr Int Ltd 0.34 -1% $217,038,658
AGY Argosy Minerals Ltd 0.4925 -2% $702,203,749
CXO Core Lithium 1.0625 -2% $2,007,198,138
LIS Lisenergylimited 0.3 -2% $50,603,827
GLN Galan Lithium Ltd 1.05 -2% $328,399,483
QPM Queensland Pacific 0.1225 -2% $218,293,490
EMS Eastern Metals 0.048 -2% $1,914,156
TYX Tyranna Res Ltd 0.0235 -2% $57,754,208
CY5 Cygnus Metals Ltd 0.23 -2% $50,323,067
TMB Tambourahmetals 0.088 -2% $3,707,334
RAS Ragusa Minerals Ltd 0.08 -2% $11,693,100
KOB Kobaresourceslimited 0.185 -3% $20,029,167
LRV Larvottoresources 0.175 -3% $12,105,850
PNN Power Minerals Ltd 0.515 -3% $38,337,170
LKE Lake Resources 0.5875 -3% $860,579,048
DRE Dreadnought Resources Ltd 0.061 -3% $208,701,878
ZNC Zenith Minerals Ltd 0.15 -3% $54,514,437
LLO Lion One Metals Ltd 0.83 -3% $10,424,026
ARN Aldoro Resources 0.13 -4% $18,147,205
KZR Kalamazoo Resources 0.13 -4% $20,574,857
GW1 Greenwing Resources 0.255 -4% $39,726,090
EMH European Metals Hldg 0.61 -4% $79,980,765
LM1 Leeuwin Metals Ltd 0.365 -4% $15,589,498
AAJ Aruma Resources Ltd 0.071 -4% $11,615,151
LRS Latin Resources Ltd 0.1775 -4% $470,051,993
FBM Future Battery 0.115 -4% $51,341,416
SYA Sayona Mining Ltd 0.225 -4% $2,138,206,986
CRR Critical Resources 0.045 -4% $74,953,479
VUL Vulcan Energy 4.02 -4% $692,308,264
SRZ Stellar Resources 0.011 -4% $11,553,255
GL1 Globallith 1.525 -5% $414,482,453
PGD Peregrine Gold 0.305 -5% $17,952,836
VMC Venus Metals Cor Ltd 0.185 -5% $35,339,593
WC8 Wildcat Resources 0.074 -5% $51,637,773
AML Aeon Metals Ltd. 0.018 -5% $20,831,612
MXR Maximus Resources 0.036 -5% $12,124,119
AS2 Askarimetalslimited 0.32 -6% $22,910,340
NWM Norwest Minerals 0.03 -6% $7,915,879
MRR Minrex Resources Ltd 0.014 -7% $16,273,013
PSC Prospect Res Ltd 0.135 -7% $67,027,622
AUN Aurumin 0.027 -7% $5,734,988
DAF Discovery Alaska Ltd 0.04 -7% $10,072,092
STM Sunstone Metals Ltd 0.025 -7% $70,752,053
LPM Lithium Plus 0.365 -8% $20,100,839
IPT Impact Minerals 0.012 -8% $36,981,151
MAN Mandrake Res Ltd 0.045 -8% $29,339,236
FG1 Flynngold 0.069 -9% $7,818,389
PL3 Patagonia Lithium 0.195 -9% $10,535,753
MMC Mitremining 0.27 -10% $11,470,530
THR Thor Energy PLC 0.0045 -10% $7,368,064
EMC Everest Metals Corp 0.072 -12% $10,613,515
EMC Everest Metals Corp 0.072 -12% $10,613,515
AOA Ausmon Resorces 0.0035 -13% $3,877,157
MLS Metals Australia 0.04 -13% $27,923,665
ENT Enterprise Metals 0.005 -17% $4,230,484
ENT Enterprise Metals 0.005 -17% $4,230,484
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29 lithium stocks rose on the ASX today, the biggest winners on news, while 54 did not change and 66 fell, or fell further.

 

WHO’S GOT NEWS OUT?

Future Battery Minerals (ASX:FBM)

Many a drill will be active at FBM’s projects next month, in both North America and Western Australia.

The lithium explorer is targeting extensions into thick lithium claystone at its Nevada project in the US, and at the same time conducting further metallurgical work at Kangaroo Hills. 

Extensions at Nevada  were first brought to light at the Western Flats region of the project area, when back in April the team intercepted major hits in a maiden drilling program. 

Of note, hole WF23-011 struck 109.7m @ 766 parts per million (ppm) Li from 135.6m depth to end of hole and 44.2m @ 570ppm Li from 169.2m at hole WF23-006.

The 3,000m Phase 2 RC drilling will extend those holes, and, based on regional mapping observations, the company’s geos believe there’s high potential for shallow mineralisation to extent south and west to its Lone Mountain prospect.

On top of this, between two and four RC drill holes will test the regional Heller prospect for Li claystone potential too.

FBM has now expanded its project area at Nevada with an additional 36 new claims contiguous to Western Flats and Lone Mountain. 

Its share price has more than doubled since the start of April. 

 

Oceana Lithium (ASX:OCN)

OCN is pushing forward with its Brazilian Solonopole lithium project, announcing a 3,000m scout drilling program to test near-surface deposits.

RC drilling will focus on the Bom Jesus de Baixo pegmatite where spodumene mineralisation has been identified.

Back in Australia, the explorer completed spectral surveyance at its Napperby project in the NT, confirming mapped pegmatite outcrops and found several new major pegmatite dykes previously unknown. 

Oceana plans to follow up with infill drilling at both its Brazilian and Northern Territory deposits. 

 

Power Minerals (ASX:PNN)

PNN has released an initial JORC 2012 mineral resource for its Incahuasi lithium-brine lake at the Salta lithium project in Argentina.

The maiden resource estimate has Incahausi containing 249,308t of LCE @ 198mg per litre – more than doubling Salta’s total JORC mineral resource to 488,308t LCE.

Salta contains five salt lakes across seven mining leases that cover a total project region of 147.07km2.

“The maiden JORC Mineral Resource at Incahuasi is a significant milestone for Power as we seek to become a leading lithium brine developer in Argentina,” PNN MD Mena Habib commented.  

It is an excellent result in both size and quality, that ‘adds value’ and positions Power with several development and corporate options. 

The resource was based on strong, consistent technical results and is a significant addition to our lithium resource inventory at the Salta Project.

PNN said it’s moving ahead with further resource upgrade work at the project.

“Drilling is ongoing at the Rincon salar, with the results to be included in a further upgrade of the Salta mineral resource,” Habib said.  

The company is also proving up a maiden JORC resource at its Laguna Verde project, so stay tuned for updates on that one. 

 

At Stockhead we tell it like it is. While Oceana Lithium and Future Battery Minerals are Stockhead advertisers, they did not sponsor this article.

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