Eye on Lithium: Argentina continues to build its brine kingdom

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.