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Mining
All your lithium news, Monday November 28.
The possibility of slower electric vehicle sales in China sent the battery materials price into a second weekly decline last week as EV registrations tumbled by more than fifth in October from the prior month.
“It’s likely for lithium prices to face some small correction until early next year,” Susan Zou, Shanghai-based analyst at Rystad Energy told Bloomberg.
“Battery makers need to de-stock while EV manufacturers are about to meet their annual targets.
“Meanwhile, they face elevated costs for raw materials and traditionally weaker consumption in the first quarter of the year.”
Morgan Stanley analysts agree, saying in a note last week there is likely to be some price pullback when underlying demand for EVs start to weaken.
“We see the near-term lithium market remaining tight, supporting lithium prices…however we note industry players may become more caution about placing orders and building inventory.”
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| AOA | Ausmon Resorces | 0.0075 | 25% | $5,143,736 |
| XTC | Xantippe Res Ltd | 0.007 | 17% | $48,871,379 |
| A8G | Australasian Metals | 0.25 | 14% | $9,057,509 |
| ADV | Ardiden Ltd | 0.01 | 11% | $24,015,018 |
| FTL | Firetail Resources | 0.185 | 9% | $11,050,000 |
| FG1 | Flynngold | 0.13 | 8% | $7,687,326 |
| MMC | Mitremining | 0.23 | 7% | $5,823,297 |
| RAS | Ragusa Minerals Ltd | 0.1275 | 6% | $15,866,178 |
| AM7 | Arcadia Minerals | 0.27 | 6% | $11,907,962 |
| SHH | Shree Minerals Ltd | 0.0095 | 6% | $11,146,382 |
| CRR | Critical Resources | 0.058 | 5% | $82,143,691 |
| PGD | Peregrine Gold | 0.485 | 5% | $17,825,869 |
| BMM | Balkanminingandmin | 0.3 | 5% | $12,258,065 |
| EPM | Eclipse Metals | 0.02 | 5% | $38,460,880 |
| SRI | Sipa Resources Ltd | 0.042 | 5% | $9,079,437 |
| MXR | Maximus Resources | 0.043 | 5% | $13,075,136 |
| ZNC | Zenith Minerals Ltd | 0.325 | 5% | $107,108,806 |
| MTM | Mtmongerresources | 0.11 | 5% | $3,938,553 |
| IR1 | Irismetals | 1.88 | 4% | $113,227,650 |
| AUN | Aurumin | 0.08 | 4% | $10,399,400 |
| KAI | Kairos Minerals Ltd | 0.029 | 4% | $54,994,618 |
| VMC | Venus Metals Cor Ltd | 0.15 | 3% | $25,821,409 |
| TYX | Tyranna Res Ltd | 0.031 | 3% | $72,162,760 |
| M2R | Miramar | 0.099 | 3% | $6,785,447 |
| PSC | Prospect Res Ltd | 0.17 | 3% | $76,272,811 |
| WCN | White Cliff Min Ltd | 0.0175 | 3% | $12,709,257 |
| RGL | Riversgold | 0.036 | 3% | $33,091,370 |
| STM | Sunstone Metals Ltd | 0.037 | 3% | $94,336,071 |
| WR1 | Winsome Resources | 1.085 | 2% | $147,543,542 |
| MQR | Marquee Resource Ltd | 0.053 | 2% | $16,516,114 |
| GL1 | Globallith | 2.34 | 2% | $478,855,989 |
| TUL | Tulla Resources | 0.4 | 1% | $79,234,130 |
| NVA | Nova Minerals Ltd | 0.7 | 1% | $142,487,798 |
| LEL | Lithenergy | 0.915 | 1% | $54,736,500 |
| 1MC | Morella Corporation | 0.018 | 0% | $104,428,004 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| JRL | Jindalee Resources | 2.17 | 0% | $124,512,356 |
| LPD | Lepidico Ltd | 0.016 | 0% | $122,204,340 |
| RLC | Reedy Lagoon Corp. | 0.012 | 0% | $6,689,123 |
| TKL | Traka Resources | 0.006 | 0% | $4,132,647 |
| DTM | Dart Mining NL | 0.07 | 0% | $10,868,211 |
| GSM | Golden State Mining | 0.055 | 0% | $6,435,781 |
| IMI | Infinitymining | 0.35 | 0% | $22,091,563 |
| RAG | Ragnar Metals Ltd | 0.018 | 0% | $6,825,328 |
| WML | Woomera Mining Ltd | 0.015 | 0% | $14,093,764 |
| KGD | Kula Gold Limited | 0.035 | 0% | $12,642,417 |
| KZR | Kalamazoo Resources | 0.22 | 0% | $32,740,262 |
| AZI | Altamin Limited | 0.095 | 0% | $37,213,091 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| RMX | Red Mount Min Ltd | 0.005 | 0% | $8,211,819 |
| MRR | Minrex Resources Ltd | 0.042 | 0% | $45,508,751 |
| RDT | Red Dirt Metals Ltd | 0.56 | 0% | $186,328,327 |
| EFE | Eastern Resources | 0.041 | 0% | $46,448,184 |
| SRZ | Stellar Resources | 0.013 | 0% | $13,060,202 |
| VKA | Viking Mines Ltd | 0.009 | 0% | $9,227,326 |
| IPT | Impact Minerals | 0.01 | 0% | $24,813,706 |
| G88 | Golden Mile Res Ltd | 0.023 | 0% | $4,705,564 |
| THR | Thor Mining PLC | 0.009 | 0% | $9,925,951 |
| DRE | Dreadnought Resources Ltd | 0.094 | 0% | $288,928,886 |
| MM1 | Midasmineralsltd | 0.175 | 0% | $9,998,059 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ZEO | Zeotech Limited | 0.036 | 0% | $58,123,183 |
| LIS | Lisenergylimited | 0.405 | 0% | $67,195,246 |
| DAF | Discovery Alaska Ltd | 0.029 | 0% | $6,502,806 |
| LNR | Lanthanein Resources | 0.035 | 0% | $33,698,895 |
| CMD | Cassius Mining Ltd | 0.028 | 0% | $11,304,745 |
| VUL | Vulcan Energy | 7.07 | 0% | $1,014,813,931 |
| AKE | Allkem Limited | 13.12 | 0% | $8,397,956,993 |
| INR | Ioneer Ltd | 0.5325 | 0% | $1,122,610,973 |
| PLS | Pilbara Min Ltd | 4.435 | -1% | $13,356,054,693 |
| AZL | Arizona Lithium Ltd | 0.0755 | -1% | $183,154,343 |
| WES | Wesfarmers Limited | 48.6 | -1% | $55,739,586,297 |
| MIN | Mineral Resources. | 81.3 | -1% | $15,624,612,099 |
| EMH | European Metals Hldg | 0.75 | -1% | $90,500,255 |
| RIO | Rio Tinto Limited | 104.1 | -1% | $39,218,993,009 |
| AOU | Auroch Minerals Ltd | 0.058 | -2% | $21,895,596 |
| TEM | Tempest Minerals | 0.028 | -2% | $14,385,836 |
| LRD | Lordresourceslimited | 0.245 | -2% | $8,321,155 |
| MLS | Metals Australia | 0.047 | -2% | $29,137,737 |
| GT1 | Greentechnology | 0.93 | -2% | $181,201,473 |
| TKM | Trek Metals Ltd | 0.086 | -2% | $32,027,167 |
| SYA | Sayona Mining Ltd | 0.205 | -2% | $1,789,456,207 |
| NMT | Neometals Ltd | 0.985 | -2% | $558,268,588 |
| KTA | Krakatoa Resources | 0.0565 | -3% | $19,993,175 |
| AAJ | Aruma Resources Ltd | 0.075 | -3% | $12,086,036 |
| INF | Infinity Lithium | 0.18 | -3% | $81,821,132 |
| CAI | Calidus Resources | 0.355 | -3% | $159,790,322 |
| MNS | Magnis Energy Tech | 0.355 | -3% | $354,170,991 |
| GW1 | Greenwing Resources | 0.355 | -3% | $46,064,994 |
| ARN | Aldoro Resources | 0.345 | -3% | $39,932,998 |
| FRS | Forrestaniaresources | 0.17 | -3% | $8,823,469 |
| LRV | Larvottoresources | 0.17 | -3% | $8,733,463 |
| AX8 | Accelerate Resources | 0.03 | -3% | $9,641,860 |
| AML | Aeon Metals Ltd. | 0.028 | -3% | $31,795,618 |
| TON | Triton Min Ltd | 0.028 | -3% | $40,100,741 |
| AS2 | Askarimetalslimited | 0.415 | -3% | $21,215,822 |
| PLL | Piedmont Lithium Inc | 0.815 | -4% | $445,797,326 |
| ESS | Essential Metals Ltd | 0.405 | -4% | $108,764,850 |
| IGO | IGO Limited | 14.5 | -4% | $11,396,880,586 |
| CXO | Core Lithium | 1.285 | -4% | $2,454,156,424 |
| LIT | Lithium Australia | 0.05 | -4% | $63,501,967 |
| LRS | Latin Resources Ltd | 0.115 | -4% | $240,954,066 |
| BNR | Bulletin Res Ltd | 0.115 | -4% | $35,110,932 |
| ASN | Anson Resources Ltd | 0.22 | -4% | $270,455,620 |
| CHR | Charger Metals | 0.55 | -4% | $25,073,470 |
| DAL | Dalaroometalsltd | 0.11 | -4% | $3,435,625 |
| PAM | Pan Asia Metals | 0.43 | -4% | $66,085,016 |
| CZL | Cons Zinc Ltd | 0.021 | -5% | $10,184,272 |
| LKE | Lake Resources | 0.94 | -5% | $1,370,429,228 |
| EVR | Ev Resources Ltd | 0.02 | -5% | $19,445,665 |
| QXR | Qx Resources Limited | 0.057 | -5% | $52,911,739 |
| AGY | Argosy Minerals Ltd | 0.565 | -5% | $835,622,461 |
| SCN | Scorpion Minerals | 0.073 | -5% | $25,695,377 |
| NWM | Norwest Minerals | 0.053 | -5% | $12,438,014 |
| GLN | Galan Lithium Ltd | 1.365 | -6% | $440,103,478 |
| LPI | Lithium Pwr Int Ltd | 0.51 | -6% | $211,248,608 |
| EUR | European Lithium Ltd | 0.083 | -6% | $127,533,047 |
| CY5 | Cygnus Gold Limited | 0.49 | -6% | $84,553,629 |
| LLL | Leolithiumlimited | 0.49 | -6% | $513,061,594 |
| A11 | Atlantic Lithium | 0.77 | -6% | $496,708,161 |
| PNN | Power Minerals Ltd | 0.58 | -6% | $44,737,360 |
| LTR | Liontown Resources | 1.87 | -7% | $4,392,870,700 |
| LLI | Loyal Lithium Ltd | 0.51 | -7% | $25,707,000 |
| BYH | Bryah Resources Ltd | 0.025 | -7% | $7,593,844 |
| EMS | Eastern Metals | 0.097 | -8% | $4,101,763 |
| TMB | Tambourahmetals | 0.14 | -8% | $6,281,871 |
| LSR | Lodestar Minerals | 0.0055 | -8% | $10,430,624 |
| OCN | Oceanalithiumlimited | 0.475 | -9% | $17,901,000 |
| WC8 | Wildcat Resources | 0.03 | -9% | $21,846,750 |
| ENT | Enterprise Metals | 0.009 | -10% | $6,529,807 |
| ALY | Alchemy Resource Ltd | 0.027 | -10% | $35,342,288 |
| TSC | Twenty Seven Co. Ltd | 0.0015 | -25% | $10,643,256 |
| QPM | Queensland Pacific | 0.13 | -26% | $305,610,886 |
Only 34 lithium companies finished in the green, 35 fell flat, and 64 tumbled into the red.
CXL and PLS have entered into a joint venture (55% PLS and 45% CXL) for an innovative decarbonised lithium refining project that aims to create a new, high value and low carbon intensity lithium product in Western Australia’s Pilbara.
The joint venture follows a successful joint initial scoping study, and a close working relationship built over the past 18 months.
Announced to the market this morning, the “mid-stream” project aims to produce a superior, high value lithium export product via Calix’s calcination technology for sustainable processing of minerals.
The proposed renewably powered at-mine processing innovation is targeting a refined lithium salt product that greatly reduces the cost, waste, and CO2 footprint of Australian lithium.
It includes the potential development of a demonstration plant at Pilbara Minerals’ Pilgangoora Project and is supported by A$20m in Australian Government funding announced under the Modern Manufacturing Initiative.
A Financial Investment Decision on the proposed demonstration plant is planned before the end of FY23.
Lithium Energy has begun drilling at the second and third holes at its flagship Solaroz Lithium Brine Project in Argentina within the heart of South America’s Lithium Triangle.
Two drill rigs are now operating concurrently following these significant lithium discovery recently made by Lithium Energy at the first diamond drill hole S0ZDD001 at Solaroz.
Cumulative lithium brine intersections of up to 235 metres and lithium concentrations of up to 555 mg/ Lithium were returned at the time, back in October.
The program is seeking to validate the previously announced exploration target and define a maiden JORC mineral resource of lithium at Solaroz.
Kula has entered into an agreement to acquire a 70pc interest at the Kirup Project within 25km of the world’s largest hard rock lithium mine – Greenbushes in Western Australia.
“What an amazing time to join the company and work on such a suite of projects as the Brunswick and Kirup Projects in near jurisdiction to the substantial Greenbushes Mine,” KGD CEO Ric Dawson says.
“We have secured an outstanding exploration opportunity near our existing Brunswick Project to add to our existing portfolio of assets in Western Australia.”
Red Dirt says it has made a positive start to drilling at the Yinnetharra Lithium Project as it continues to define new target areas to be tested with drilling over the next 12 months.
So far, around 13km of strike has been identified for exploration in 2023.
“It is extremely promising to visually identify extensive spodumene at this stage of our initial program,” executive chairman David Flanagan says.
“The visual record has correlated well with historical results, so the exploration team is excited by the early positive indications, especially after only settling the acquisition of Yinnetharra in late September.”
VUL says 3D seismic survey works have kicked off on the ground in one of Vulcan’s planned Phase 2 lithium and geothermal energy development areas, in the Mannheim district of the Upper Rhine Valley Brine Field.
Vulcan signed a renewable heat offtake agreement with MVV Energie AG (MVV), the utility for the city of Mannheim, in April 2022.
These works follow recent approval of the main operating plan by the state directorate, after a thorough review process, which involved the relevant municipalities, technical agencies, and associations.
The surveys allow the company to visualise the sub-surface, to employ industry best-practice modelling and planning for our well developments, which are targeting dual geothermal energy and lithium production.
CRR is raising $6.7mn at a significant premium via ‘flow through shares’ under Canadian tax law, which will be placed at A$0.08 per share – a 45% premium to CRR’s last closing price.
Funds will be used to advance the Mavis Lake drilling program, which has been ongoing since April 2022 with more than 42 spodumene bearing pegmatite drill hole assays pending.
Jindalee has appointed highly experienced lithium industry executive Paul Brown to the team as non-executive director with effect from December 1.
Brown has held executive roles in the capacity of chief executive of lithium and chief executive of commodities having spent more than 20 years in the mining industry.
His most recent role was with Mineral Resources (ASX:MIN) but has worked with Leighton, HWE and FMG gainging both contractor and owner-miner experience through a broad range of technical, operational and construction roles.
OCN is collaborating in a joint research program with the Centre for Exploration Targeting, University of Western Australia (UWA) covering the North Arunta pegmatite province in the Northern Territory.
The program will be co-funded by Oceana, Core Lithium (ASX:CXO) Australasian Metals (ASX:A8G), Askari Minerals (ASX:AS2) and Lithium Springs Limited, all of which have been actively exploring for lithium-related minerals in the North Arunta.
Until now, there has been a dearth of systematic structural and petrogenetic constraints on the Arunta rare metal pegmatite province – as a consequence it has hindered systematic, cost-effective exploration targeting using modern geochemical, hyperspectral and mineralogical tools.
The joint research program will address this issue by first defining a robust lithochemical mineralisation framework for rare metal pegmatites.
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