Argentina is welcoming a lot of foreign investment to build its brine kingdom.
Eye on Lithium: Argentina continues to build its brine kingdom
Mining
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- Allkem pushes on with its brine development in Argentina
- French miner Eramet signs 50,000tpa offtake deal with Glencore
All your lithium news, Thursday, July 27.
Good news for all those ASX lithium players in Argentina.
French miner Eramet has signed a US$400m deal with commodities giant Glencore to market ~50,000t of LCE produced from its 24,000 tonnes per annum (tpa) Eramine DLE project in the lithium brine capital of Argentina.
The construction of Phase 1 of the project, a partnership with Chinese giant Tsingshan is continuing and has achieved a 60% completion rate at 30 June 2023.
Tsingshan and Eramet are already partners within Weda Bay Nickel, a project developed in Indonesia.
Current estimates forecast, that production at Eramine should start in Q2 2024 and the achievement of a full ramp-up in production, to 24 kt LCE battery grade (100% basis), is expected by mid-2025.
Eramet said last month that Glencore was “among parties” to have expressed interest in helping finance Phase 2 (up to 75,000tpa) lithium production in Argentina.
Down the road Allkem (ASX:AKE) is progressing its Olaroz Stage 2 lithium facility which achieved first wet production earlier this month, with commissioning to continue and ramp up over the next 12 to 18 months.
Here’s how Aussie lithium stocks are tracking:
| Code | Company | % Today | YTD% | Price | Market Cap |
|---|---|---|---|---|---|
| XTC | Xantippe Res Ltd | 50% | 0% | 0.0015 | $11,480,100 |
| RGL | Riversgold | 17% | -2% | 0.014 | $11,415,137 |
| TMB | Tambourah Metals | 17% | 18% | 0.28 | $10,144,609 |
| LSR | Lodestar Minerals | 14% | 0% | 0.008 | $12,903,781 |
| THR | Thor Energy PLC | 11% | 0% | 0.005 | $6,566,812 |
| AX8 | Accelerate Resources | 10% | 0% | 0.022 | $7,592,035 |
| AUN | Aurumin | 9% | -4% | 0.025 | $6,785,911 |
| CY5 | Cygnus Metals Ltd | 9% | -7% | 0.315 | $64,748,456 |
| EVR | Ev Resources Ltd | 8% | 0% | 0.014 | $12,167,793 |
| 1MC | Morella Corporation | 7% | 0% | 0.0075 | $42,690,063 |
| LRS | Latin Resources Ltd | 7% | 28% | 0.375 | $916,675,308 |
| FBM | Future Battery | 7% | 6% | 0.1125 | $44,923,739 |
| G88 | Golden Mile Res Ltd | 7% | 3% | 0.046 | $14,163,749 |
| MRR | Minrex Resources Ltd | 7% | -2% | 0.016 | $16,273,013 |
| BYH | Bryah Resources Ltd | 6% | -1% | 0.018 | $5,873,590 |
| L1M | Lightning Minerals | 6% | 2% | 0.185 | $6,863,185 |
| AZS | Azure Minerals | 5% | 165% | 1.875 | $694,620,208 |
| YAR | Yari Minerals | 5% | 0% | 0.02 | $9,164,798 |
| SLM | Solis Minerals | 5% | 46% | 0.53 | $31,827,031 |
| VMC | Venus Metals Cor Ltd | 4% | 4% | 0.12 | $21,818,799 |
| MAN | Mandrake Res Ltd | 4% | 1% | 0.049 | $28,141,716 |
| LM1 | Leeuwin Metals Ltd | 4% | 0% | 0.375 | $16,122,600 |
| QXR | QX Resources Limited | 4% | -2% | 0.026 | $22,421,558 |
| STM | Sunstone Metals Ltd | 4% | -1% | 0.026 | $77,049,622 |
| TOR | Torque Met | 3% | -3% | 0.15 | $13,968,871 |
| INR | Ioneer Ltd | 3% | -8% | 0.305 | $622,276,773 |
| BUR | Burley Minerals | 3% | -6% | 0.16 | $15,700,997 |
| LKE | Lake Resources | 3% | -56% | 0.2425 | $334,274,506 |
| MLS | Metals Australia | 3% | -1% | 0.033 | $19,969,158 |
| NMT | Neometals Ltd | 3% | -31% | 0.495 | $265,315,764 |
| KTA | Krakatoa Resources | 3% | -1% | 0.033 | $13,644,051 |
| NVA | Nova Minerals Ltd | 3% | -33% | 0.35 | $71,702,587 |
| BMM | Balkan Mining and Minerals | 3% | -14% | 0.19 | $11,298,323 |
| MQR | Marquee Resource Ltd | 3% | 0% | 0.038 | $12,236,178 |
| MNS | Magnis Energy Tech | 3% | -27% | 0.1025 | $117,949,815 |
| GL1 | Globallith | 2% | -9% | 1.755 | $445,545,336 |
| VUL | Vulcan Energy | 2% | -186% | 4.475 | $734,601,971 |
| WES | Wesfarmers Limited | 2% | 437% | 50.28 | $55,951,186,447 |
| BNR | Bulletin Res Ltd | 2% | -4% | 0.054 | $15,560,328 |
| LPM | Lithium Plus | 2% | -9% | 0.28 | $18,146,755 |
| OCN | Oceana Lithium | 2% | -6% | 0.29 | $15,126,803 |
| EMH | European Metals Hldg | 2% | 25% | 0.885 | $108,763,515 |
| NIS | Nickelsearch | 2% | -10% | 0.06 | $5,642,192 |
| ANX | Anax Metals Ltd | 2% | 1% | 0.062 | $24,973,084 |
| PMT | Patriot Battery Metals | 2% | 82% | 1.57 | $525,739,923 |
| SYA | Sayona Mining Ltd | 2% | -3% | 0.1575 | $1,584,078,958 |
| PLL | Piedmont Lithium Inc | 1% | 17% | 0.81 | $306,282,000 |
| TKM | Trek Metals Ltd | 1% | 2% | 0.095 | $41,653,288 |
| JRL | Jindalee Resources | 1% | -3% | 1.855 | $105,577,297 |
| GT1 | Greentechnology | 1% | -19% | 0.635 | $134,175,839 |
| LEL | Lithenergy | 1% | -6% | 0.715 | $73,137,100 |
| IGO | IGO Limited | 1% | 102% | 14.48 | $10,897,083,829 |
| WR1 | Winsome Resources | 0% | 42% | 1.65 | $267,278,805 |
| PLS | Pilbara Min Ltd | 0% | 131% | 5.06 | $15,140,846,779 |
| ADV | Ardiden Ltd | 0% | 0% | 0.007 | $18,818,347 |
| AML | Aeon Metals Ltd. | 0% | -1% | 0.018 | $19,735,211 |
| ASN | Anson Resources Ltd | 0% | -3% | 0.155 | $196,931,152 |
| AVZ | AVZ Minerals Ltd | 0% | 0% | 0.78 | $2,752,409,203 |
| ESS | Essential Metals Ltd | 0% | 17% | 0.49 | $131,741,384 |
| EUR | European Lithium Ltd | 0% | 1% | 0.083 | $115,721,852 |
| LIT | Lithium Australia | 0% | -1% | 0.032 | $39,078,134 |
| QPM | Queensland Pacific Metals | 0% | -1% | 0.1 | $174,634,792 |
| PSC | Prospect Res Ltd | 0% | 1% | 0.125 | $57,782,433 |
| RLC | Reedy Lagoon Corp. | 0% | 0% | 0.008 | $4,533,757 |
| TON | Triton Min Ltd | 0% | -1% | 0.03 | $46,840,668 |
| AAJ | Aruma Resources Ltd | 0% | -1% | 0.042 | $8,240,478 |
| PAM | Pan Asia Metals | 0% | -18% | 0.23 | $35,825,130 |
| AM7 | Arcadia Minerals | 0% | -10% | 0.11 | $10,345,511 |
| FG1 | Flynngold | 0% | -5% | 0.055 | $7,474,265 |
| FRS | Forrestania Resources | 0% | -4% | 0.105 | $9,777,853 |
| IMI | Infinity Mining | 0% | -15% | 0.125 | $9,559,790 |
| MMC | Mitre Mining | 0% | 0% | 0.28 | $10,705,828 |
| RAG | Ragnar Metals Ltd | 0% | 1% | 0.021 | $7,962,883 |
| CTN | Catalina Resources | 0% | -1% | 0.004 | $4,953,948 |
| TEM | Tempest Minerals | 0% | -1% | 0.013 | $6,588,681 |
| WCN | White Cliff Min Ltd | 0% | 0% | 0.01 | $12,278,519 |
| WML | Woomera Mining Ltd | 0% | -1% | 0.01 | $9,561,946 |
| AZL | Arizona Lithium Ltd | 0% | -3% | 0.032 | $88,415,578 |
| KGD | Kula Gold Limited | 0% | -1% | 0.017 | $6,344,603 |
| KZR | Kalamazoo Resources | 0% | -6% | 0.15 | $23,264,938 |
| SCN | Scorpion Minerals | 0% | 0% | 0.069 | $23,853,727 |
| AZI | Altamin Limited | 0% | 0% | 0.08 | $31,337,340 |
| ENT | Enterprise Metals | 0% | -1% | 0.004 | $2,997,884 |
| AVW | Avira Resources Ltd | 0% | 0% | 0.002 | $4,267,580 |
| CAI | Calidus Resources | 0% | -9% | 0.185 | $112,407,880 |
| EFE | Eastern Resources | 0% | -2% | 0.011 | $13,661,411 |
| NWM | Norwest Minerals | 0% | 0% | 0.057 | $15,825,167 |
| AOA | Ausmon Resorces | 0% | 0% | 0.004 | $3,877,157 |
| VKA | Viking Mines Ltd | 0% | 0% | 0.011 | $11,277,843 |
| SRI | Sipa Resources Ltd | 0% | -1% | 0.026 | $5,932,112 |
| ZNC | Zenith Minerals Ltd | 0% | -17% | 0.094 | $33,123,803 |
| RAS | Ragusa Minerals Ltd | 0% | -5% | 0.061 | $8,698,526 |
| EPM | Eclipse Metals | 0% | 0% | 0.017 | $34,477,016 |
| WC8 | Wildcat Resources | 0% | 15% | 0.175 | $116,475,030 |
| MXR | Maximus Resources | 0% | -1% | 0.033 | $10,528,840 |
| LLI | Loyal Lithium Ltd | 0% | 3% | 0.32 | $19,996,800 |
| LRD | Lord Resources | 0% | -7% | 0.093 | $3,453,287 |
| WMC | Wiluna Mining Corp | 0% | 0% | 0.205 | $74,238,031 |
| ALY | Alchemy Resource Ltd | 0% | -1% | 0.014 | $16,493,068 |
| GW1 | Greenwing Resources | 0% | -7% | 0.21 | $33,966,991 |
| DAF | Discovery Alaska Ltd | 0% | -1% | 0.027 | $6,324,337 |
| FTL | Firetail Resources | 0% | -8% | 0.085 | $8,181,250 |
| IR1 | Iris Metals | 0% | 29% | 1.45 | $115,608,500 |
| DAL | Dalaroo Metals | 0% | -4% | 0.058 | $2,512,850 |
| TUL | Tulla Resources | 0% | -33% | 0 | $118,262,971 |
| LLL | Leo Lithium | 0% | 66% | 1.14 | $1,125,447,873 |
| A11 | Atlantic Lithium | 0% | -18% | 0.44 | $268,066,330 |
| CMD | Cassius Mining Ltd | 0% | 2% | 0.036 | $17,882,215 |
| SGQ | St George Min Ltd | 0% | -3% | 0.041 | $34,460,933 |
| PAT | Patriot Lithium | 0% | -2% | 0.25 | $15,346,876 |
| PL3 | Patagonia Lithium | 0% | 0% | 0.185 | $9,065,648 |
| RMX | Red Mount Min Ltd | 0% | 0% | 0.005 | $11,559,255 |
| DLI | Delta Lithium | 0% | 43% | 0.9 | $469,690,220 |
| ENT | Enterprise Metals | 0% | -1% | 0.004 | $2,997,884 |
| LRD | Lord Resources | 0% | -7% | 0.093 | $3,453,287 |
| IEC | Intra Energy Corp | 0% | 0% | 0.0045 | $7,293,517 |
| ICL | Iceni Gold | 0% | 4% | 0.115 | $23,985,714 |
| TMX | Terrain Minerals | 0% | 0% | 0.006 | $6,499,196 |
| MHC | Manhattan Corp Ltd | 0% | 0% | 0.008 | $23,490,230 |
| MHK | Metal Hawk | 0% | -2% | 0.145 | $9,870,124 |
| NKL | Nickelx | 0% | -1% | 0.07 | $6,050,470 |
| MIN | Mineral Resources | 0% | -358% | 73.62 | $14,356,561,140 |
| LTR | Liontown Resources | -1% | 150% | 2.815 | $6,254,405,864 |
| MTM | MTM Critical Metals | -1% | 1% | 0.09 | $8,831,252 |
| MM1 | Midasmineralsltd | -1% | 15% | 0.345 | $25,707,294 |
| AGY | Argosy Minerals Ltd | -1% | -23% | 0.34 | $484,520,587 |
| LPI | Lithium Power International | -2% | -15% | 0.29 | $185,625,080 |
| EMS | Eastern Metals | -2% | -2% | 0.055 | $3,726,230 |
| DRE | Dreadnought Resources Ltd | -2% | -5% | 0.055 | $186,352,780 |
| LIS | Lisenergylimited | -2% | -5% | 0.27 | $45,626,401 |
| REC | Recharge Metals | -2% | 14% | 0.27 | $29,035,730 |
| PGD | Peregrine Gold | -2% | -12% | 0.265 | $15,147,705 |
| GLN | Galan Lithium Ltd | -2% | -30% | 0.77 | $264,478,593 |
| AKE | Allkem Limited | -2% | 421% | 15.45 | $10,068,621,178 |
| LLO | Lion One Metals Ltd | -2% | -27% | 0.9 | $12,450,216 |
| ZEO | Zeotech Limited | -2% | 0% | 0.044 | $76,766,538 |
| RIO | Rio Tinto Limited | -2% | 166% | 118.07 | $44,846,630,813 |
| INF | Infinity Lithium | -2% | -1% | 0.1075 | $50,885,130 |
| KAI | Kairos Minerals Ltd | -3% | 0% | 0.0195 | $52,418,244 |
| ARN | Aldoro Resources | -3% | 2% | 0.175 | $24,232,274 |
| VSR | Voltaic Strategic | -3% | 1% | 0.035 | $13,300,479 |
| SBR | Sabre Resources | -3% | 0% | 0.035 | $10,493,503 |
| CXO | Core Lithium | -3% | -35% | 0.68 | $1,300,961,756 |
| CHR | Charger Metals | -3% | -15% | 0.295 | $18,944,882 |
| LRV | Larvotto Resources | -3% | -2% | 0.145 | $10,088,208 |
| KOB | Koba Resources | -3% | 0% | 0.14 | $15,285,417 |
| AS2 | Askari Metals | -4% | -18% | 0.26 | $18,460,022 |
| PNN | Power Minerals Ltd | -4% | -15% | 0.38 | $28,888,042 |
| TYX | Tyranna Res Ltd | -5% | 0% | 0.021 | $72,301,357 |
| BM8 | Battery Age Minerals | -5% | -8% | 0.42 | $32,655,992 |
| M2R | Miramar | -5% | -4% | 0.038 | $4,437,072 |
| GSM | Golden State Mining | -5% | -1% | 0.036 | $7,261,355 |
| IPT | Impact Minerals | -6% | 1% | 0.016 | $48,359,966 |
| FIN | FIN Resources Ltd | -6% | 0% | 0.015 | $9,936,566 |
| EG1 | Evergreen Lithium | -6% | 0% | 0.3 | $17,993,600 |
| LPD | Lepidico Ltd | -7% | 0% | 0.014 | $114,574,586 |
| CRR | Critical Resources | -8% | 1% | 0.049 | $84,522,008 |
| SRZ | Stellar Resources | -8% | 0% | 0.012 | $13,077,535 |
| EMC | Everest Metals Corp | -9% | 8% | 0.16 | $22,650,794 |
| EMC | Everest Metals Corp | -9% | 8% | 0.16 | $22,650,794 |
| DTM | Dart Mining NL | -9% | -2% | 0.031 | $5,857,766 |
| LNR | Lanthanein Resources | -10% | 0% | 0.019 | $23,553,087 |
| TKL | Traka Resources | -11% | 0% | 0.008 | $7,841,963 |
| A8G | Australasian Metals | -12% | -4% | 0.15 | $8,860,484 |
| DYM | Dynamic Metals | -14% | 0% | 0.22 | $8,925,000 |
52 lithium stocks rose today and 68 kept treading water. 42 dropped into the red.
WHO’S GOT NEWS OUT?
LITHIUM ENERGY (ASX:LEL)
Assays are back from LEL’s sixth drill hole at Solaroz showing the highest concentration grade to date, at 594mg/l.
The Argentina-focused lithium brine explorer has been drilling its highly-prospective Central Block region of the project with a maiden inferred MRE of 3.3Mt of LCE equivalent.
LEL Executive Chairman William Johnson said the results would be used to review the company’s existing MRE and potentially upgrade it to an indicated resource category.
“Drilling is ongoing with hole seven underway, with this first step-out drill hole targeting the previously undrilled Northern Block of concessions at Solaroz,” he said.
LEL is spinning the drill bit for hole seven to test outside the MRE area in order to prove up further resources.
BASTION MINERALS (ASX:BMO)
BMO has announced the decision of an early exercise of a Canadian lithium option “pursuant to the Binding Heads of Agreement (HOA) with the shareholders of Austek Resources”.
This is in order “to acquire three highly prospective lithium property packages located in Ontario, Canada”, writes the exploration minnow, noting the negotiation of “significantly more favourable acquisition terms” on the company’s behalf.
Under the revised terms, BMO will hand over 9 million shares @ 0.44c per share to a value of about ~$396,000, a 15% discount to the 15 day trading average.
This is significantly reduced from the calculated 24,447,824 shares that were to be issued to the vendors under the original terms of the HOA.
The three projects are the McCombe, McCombe North and Raleigh Lake project areas around the Root Raby lithium precinct.
SCORPION MINERALS (ASX:SCN)
Scorpion has reached an MOU with Chinese battery maker Sunwoda for potential investment and development of its Youanmi lithium project which recently has drill hits of up to 2.84% Li2O in stacked LCT pegmatites.
As part of this process, SCN has invited Sunwoda Electronic Co to visit its operations in Australia for formal discussions and to facilitate a prospective deal to unlock the potential of Youanmi.
SCN CEO Michael Fotios says that having sound interest from a company such as Sunwoda validates the tremendous opportunity and upside that sits within Scorpion’s asset and capabilities base.
“Sunwoda is the same size as LG who are the fourth largest family-run conglomerate in South Korea and a market leader in consumer electronics,” he says.
CHARGER METALS (ASX:CHR)
CHR’s Bynoe lithium project in the NT is progressing well after the drill bits shored up new spodumene-bearing pegmatite intersections up to 24m-wide at the Enterprise prospect area of the project.
RC and diamond drilling intersected the new pegmatites both along strike and down-dip from previously reported intersections such as 7m grading 0.96% Li2O from a down-hole depth of 107m including 5m at 1.13% Li2O from 108m in hole CBYRC023 and 16m at 0.65% Li2O from 185m including 1m at 1.91% Li2O from 198m in CBYRC024.
Drilling has now defined the spodumene-bearing pegmatite at the Enterprise prospect over a strike length of about 200m, which is typical of the known mineralised pegmatites in the Finniss region.
Charger has started first pass RC drilling at the high-priority 7Up prospect, which lies on the same prospective structural corridor as Core Lithium’s (ASX:CXO) Ah Hoy (1.05Mt @ 1.16% Li2O) and Penfolds (0.57Mt @ 1.04% Li2O) lithium deposits, as well as its Sea Dog prospect.
Besides testing 7Up, this RC program will also drill test newly defined priority targets such as Kraken and Bunbury, which are just two of the 20 targets areas delineated at the company’s tenure at Bynoe.
At Stockhead we tell it like it is, while Lithium Energy and Charger Metals are Stockhead advertisers, they did not sponsor this article.
