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Eye on Lithium: Argentina exploration is going bonkers, much like lithium’s insane 17.4% rise this week
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- Lithium is going berserk again
- Chinese miners are pouring billions into lithium projects in Argentina
- Aussie miners are also chasing brine in the country
All your lithium news, Friday, June 2.
Happy lithium-filled Friday!
News around the commodity is literally flying off the meat rack today and landing in a bowl of Argentinian chimichurri. Yum.
The big news is the huge 17.4% leap in lithium prices this week to US$44,350, according to Benchmark Intelligence, which weighed the average of the lithium, carbonate and spodumene indexes.
Benchmark said the increases were likely due to sellers withholding material to enforce a tighter market, but we can’t be sure of that.
LFP cathode manufacturers are also reportedly increasing their inventories from two weeks to four weeks to lock in current prices in anticipation of them rising.
On to brines capital Argentina
It’s the Chinese miners in the news this week, eyeing huge investments into lithium projects in the South American nation.
Tibet Summit Resources is reaching deep into the coffers for an expected US$1.7 billion investment into the development of two lithium projects, the country’s economy ministry said in a note.
“The projects in the Arizaro and Diablillos salt flats in Salta province are expected to produce 50,000-100,000 tonnes of lithium,” economy minister Sergio Massa said.
“We want a mining industry that takes advantage of our resources and generates added value and employment.”
Ganfeng Lithium is also currently engaged in four projects in Argentina and is expected to invest more than US$2.7 billion in the next few years and produce 74,000t of lithium carbonate.
Argentina’s portion of the South American lithium triangle includes the brine-rich Salta province where a string of ASX-listed juniors are also exploring and developing projects, including Lithium Energy (ASX:LEL), Argosy Minerals (ASX:AGY), Galan Lithium (ASX:GLN), Lake Resources (ASX:LKE), Pursuit Minerals (ASX:PUR) and Patagonia Lithium (ASX:PL3).
Bigger companies in the region include Australia’s Allkem (ASX:AKE) and merger partner Livent Corp.
Here’s how Aussie lithium stocks are tracking:
Code Company Price % Today Market Cap THR Thor Energy PLC 0.006 20% $7,368,064 VSR Voltaic Strategic 0.087 19% $26,970,415 TKL Traka Resources 0.007 17% $5,227,976 CTN Catalina Resources 0.0035 17% $3,715,461 WC8 Wildcat Resources 0.115 15% $66,202,273 ADV Ardiden Ltd 0.008 14% $18,818,347 GSM Golden State Mining 0.06 13% $7,646,003 PL3 Patagonia Lithium 0.195 11% $8,575,613 NVA Nova Minerals Ltd 0.31 11% $59,049,188 LIS Lisenergylimited 0.2875 11% $43,137,689 FRS Forrestaniaresources 0.075 10% $4,140,609 EMC Everest Metals Corp 0.098 9% $11,648,980 EMC Everest Metals Corp 0.098 9% $11,648,980 TON Triton Min Ltd 0.037 9% $53,086,091 ARN Aldoro Resources 0.13 8% $16,130,849 CHR Charger Metals 0.505 7% $20,545,753 WCN White Cliff Min Ltd 0.0075 7% $6,713,381 FBM Future Battery 0.1125 7% $44,923,739 MNS Magnis Energy Tech 0.165 6% $169,064,218 DRE Dreadnought Resources Ltd 0.051 6% $159,730,955 MLS Metals Australia 0.036 6% $21,217,230 KAI Kairos Minerals Ltd 0.018 6% $33,389,589 OCN Oceanalithiumlimited 0.36 6% $13,320,010 CAI Calidus Resources 0.185 6% $96,139,368 MXR Maximus Resources 0.038 6% $11,486,008 VMC Venus Metals Cor Ltd 0.195 5% $33,527,306 TYX Tyranna Res Ltd 0.02 5% $59,022,081 NMT Neometals Ltd 0.615 5% $323,353,588 SGQ St George Min Ltd 0.042 5% $33,620,422 GL1 Globallith 1.49 5% $367,853,177 LM1 Leeuwin Metals Ltd 0.325 5% $13,883,350 DLI Delta Lithium 0.66 5% $285,592,119 ESS Essential Metals Ltd 0.45 5% $115,053,678 MAN Mandrake Res Ltd 0.046 5% $26,345,436 AGY Argosy Minerals Ltd 0.465 4% $624,961,337 BUR Burleyminerals 0.235 4% $16,789,456 WR1 Winsome Resources 1.69 4% $262,779,418 GLN Galan Lithium Ltd 1 4% $323,438,789 PSC Prospect Res Ltd 0.13 4% $57,782,433 EMH European Metals Hldg 0.66 4% $79,980,765 CXO Core Lithium 1.08 4% $1,932,857,466 PLS Pilbara Min Ltd 4.505 4% $13,012,110,735 NWM Norwest Minerals 0.028 4% $6,679,023 PGD Peregrine Gold 0.29 4% $15,708,731 GT1 Greentechnology 0.73 4% $134,470,567 EVR Ev Resources Ltd 0.015 3% $13,571,769 LPM Lithium Plus 0.3 3% $19,136,578 LEL Lithenergy 0.93 3% $85,509,000 AM7 Arcadia Minerals 0.155 3% $7,004,684 ZEO Zeotech Limited 0.062 3% $98,442,340 LLL Leolithiumlimited 0.8775 3% $838,718,828 LPI Lithium Pwr Int Ltd 0.32 3% $195,063,644 AKE Allkem Limited 14.76 3% $9,124,887,211 LRV Larvottoresources 0.165 3% $10,760,756 PLL Piedmont Lithium Inc 0.865 3% $363,534,360 VUL Vulcan Energy 3.69 3% $591,758,731 IGO IGO Limited 14.125 3% $10,412,432,429 EUR European Lithium Ltd 0.1025 3% $148,923,918 DTM Dart Mining NL 0.044 2% $7,408,351 MIN Mineral Resources. 69.61 2% $13,231,291,094 LKE Lake Resources 0.525 2% $732,559,024 RIO Rio Tinto Limited 109.07 2% $39,876,045,708 LTR Liontown Resources 2.77 1% $6,007,311,656 SYA Sayona Mining Ltd 0.1825 1% $1,637,775,564 AZI Altamin Limited 0.075 1% $28,987,040 FTL Firetail Resources 0.09 1% $6,853,000 JRL Jindalee Resources 2.03 1% $115,331,722 1MC Morella Corporation 0.008 0% $48,788,644 AML Aeon Metals Ltd. 0.0185 0% $20,283,412 AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203 INF Infinity Lithium 0.11 0% $50,885,130 LIT Lithium Australia 0.037 0% $45,184,092 QPM Queensland Pacific 0.11 0% $192,098,271 RLC Reedy Lagoon Corp. 0.006 0% $3,400,318 PAM Pan Asia Metals 0.305 0% $47,356,223 AX8 Accelerate Resources 0.023 0% $8,684,840 AS2 Askarimetalslimited 0.27 0% $18,193,505 BYH Bryah Resources Ltd 0.017 0% $5,807,616 EMS Eastern Metals 0.054 0% $2,109,478 FG1 Flynngold 0.07 0% $7,201,148 IMI Infinitymining 0.13 0% $9,942,181 MMC Mitremining 0.265 0% $10,132,302 RAG Ragnar Metals Ltd 0.018 0% $6,825,328 TMB Tambourahmetals 0.11 0% $4,531,186 WML Woomera Mining Ltd 0.014 0% $13,386,257 AZL Arizona Lithium Ltd 0.045 0% $121,093,457 CRR Critical Resources 0.041 0% $65,384,950 LRS Latin Resources Ltd 0.165 0% $419,235,562 MTM MTM Critical Metals 0.11 0% $9,719,331 QXR Qx Resources Limited 0.036 0% $32,287,044 SCN Scorpion Minerals 0.07 0% $24,199,433 ENT Enterprise Metals 0.005 0% $3,525,403 AVW Avira Resources Ltd 0.003 0% $6,401,370 BNR Bulletin Res Ltd 0.061 0% $17,909,057 MRR Minrex Resources Ltd 0.014 0% $15,188,145 EFE Eastern Resources 0.01 0% $12,419,465 LSR Lodestar Minerals 0.005 0% $9,216,987 SRI Sipa Resources Ltd 0.019 0% $4,335,005 RGL Riversgold 0.016 0% $15,127,483 ZNC Zenith Minerals Ltd 0.13 0% $45,809,515 G88 Golden Mile Res Ltd 0.022 0% $6,152,149 EPM Eclipse Metals 0.013 0% $26,364,777 MM1 Midasmineralsltd 0.18 0% $10,283,718 M2R Miramar 0.045 0% $3,617,178 LLI Loyal Lithium Ltd 0.32 0% $19,036,800 LRD Lordresourceslimited 0.11 0% $4,084,533 WMC Wiluna Mining Corp 0.205 0% $74,238,031 AUN Aurumin 0.027 0% $5,574,837 GW1 Greenwing Resources 0.245 0% $36,727,895 KTA Krakatoa Resources 0.021 0% $7,630,908 DAF Discovery Alaska Ltd 0.028 0% $6,558,572 IR1 Irismetals 1.16 0% $74,506,800 DAL Dalaroometalsltd 0.062 0% $1,852,250 CY5 Cygnus Metals Ltd 0.195 0% $41,757,439 TUL Tulla Resources 0.34 0% $114,884,029 A11 Atlantic Lithium 0.6 0% $365,544,996 CMD Cassius Mining Ltd 0.017 0% $6,944,379 LLO Lion One Metals Ltd 0.845 0% $10,242,211 PAT Patriot Lithium 0.235 0% $14,426,063 RMX Red Mount Min Ltd 0.004 0% $9,087,404 ENT Enterprise Metals 0.005 0% $3,525,403 NIS Nickelsearch 0.057 0% $3,448,809 KOB Kobaresourceslimited 0.185 0% $19,502,083 LRD Lordresourceslimited 0.11 0% $4,084,533 IEC Intra Energy Corp 0.007 0% $4,940,471 WES Wesfarmers Limited 47.66 -1% $54,352,257,122 PNN Power Minerals Ltd 0.445 -1% $32,550,427 RAS Ragusa Minerals Ltd 0.08 -1% $11,550,502 AAJ Aruma Resources Ltd 0.069 -1% $10,987,305 INR Ioneer Ltd 0.33 -1% $702,943,319 A8G Australasian Metals 0.145 -3% $7,818,074 EG1 Evergreenlithium 0.38 -4% $22,210,850 MQR Marquee Resource Ltd 0.025 -4% $8,507,395 BMM Balkanminingandmin 0.215 -4% $10,748,703 ASN Anson Resources Ltd 0.175 -5% $226,355,012 YAR Yari Minerals Ltd 0.017 -6% $8,682,441 ALY Alchemy Resource Ltd 0.017 -6% $21,205,373 FIN FIN Resources Ltd 0.017 -6% $11,133,637 KGD Kula Gold Limited 0.016 -6% $6,344,603 VKA Viking Mines Ltd 0.008 -6% $8,714,697 LNR Lanthanein Resources 0.016 -6% $19,066,785 TEM Tempest Minerals 0.013 -7% $7,095,503 IPT Impact Minerals 0.013 -7% $39,825,854 KZR Kalamazoo Resources 0.12 -8% $19,812,826 TKM Trek Metals Ltd 0.068 -8% $26,931,936 LPD Lepidico Ltd 0.011 -8% $91,653,387 SRZ Stellar Resources 0.01 -9% $11,050,940 AOA Ausmon Resorces 0.0035 -13% $3,877,157 XTC Xantippe Res Ltd 0.0035 -13% $45,920,399 STM Sunstone Metals Ltd 0.022 -15% $80,131,607
A massively positive day for lithium stocks today with 66 in the green. 58 were flat, and just 25 saw red.
WHO’S GOT NEWS OUT?
LITHIUM ENERGY (ASX:LEL)
As well as pushing forward with its lithium-brine project in Argentina, LEL has been drilling in QLD, producing high-grade graphite hits at Corella to support its proposed vertically integrated battery anode manufacturing plant.
Assays from maiden drilling at the Corella graphite project confirm multiple significant high-grade graphite intercepts over 15% total graphite carbon (TGC) across thick widths that will feed into a maiden JORC mineral resource estimate.
The March/April drilling program consisted of 16 RC drill holes across 1,569m, and hits of note include individual intercepts of up to 27.4% TGC.
The discoveries at Corella adds to Lithium Energy’s (ASX:LEL) world-class Burke graphite deposit which has an indicated and inferred total resource of 9.1 million tonnes at 14.4% TGC for a total of 1.3mt of contained graphite.
GALAN LITHIUM (ASX:GLN)
GLN has completed a Stage 1 DFS to produce 4,000t of LCE equivalent at its Hombre Muerto Salar (HMW) lithium brine project in the Salta province of Argentina.
Phase 2 DFS optimisation work being conducted by the team is ongoing, which Galan expects to release in August 2023, addressing the full 20ktpa LCE production rates it has flagged for the second half of 2026.
The company is also currently evaluating Phase 3, which is a plan to increase production to 40ktpa in 2028 at HMW.
Finally, Phase 4 is planned to incorporate both HMW and the company’s Candelas project nearby for a total output of 60ktpa LCE equivalent by 2030.
The company has ~$50m of capital in its hands to continue development activities.
PATAGONIA LITHIUM (ASX:PL3)
PL3 has returned some impressive high-grade lithium assay results today from its Formentera and Cilon projects in Argentina.
Two samples returned up to a whopping 1,122 parts per million (ppm) and 1,008ppm lithium respectively.
A total of 28 samples were sent to SGS Argentina, with 10 brines exceeding 75ppm, including 238ppm and 467ppm.
PL3 chairman Phil Thomas said the board is delighted with the sampling results.
“The extreme high levels of lithium in the brines from surface sampling demonstrate that there are high concentrations of lithium across a wide area near the surface on the concessions,” Thomas said.
“Once the data is collated and interpreted, we will have a high confidence of where the drilling targets will intercept aquifers containing conductive fluids which may be containing lithium.”
The high-grade results have spurred the explorer to conduct an 18-kilometre geophysics study to determine resistivity depth.
At Stockhead, we tell it like it is. While Galan Lithium and Lithium Energy are Stockhead advertisers, they did not sponsor this article.
