• Pilbara Minerals accepts its latest pre-auction bid on the BMX totalling US$7,100/dmt
  • Bulletin Resources identifies more than 50 new pegmatite targets at the Ravensthorpe Lithium Project
  • Sayona develops a transport solution for its North American Lithium (NAL) operation with a Quebec rail operator

All your lithium news, Tuesday October 18.

 

Another good day for lithium stocks as homegrown success story, Pilbara Minerals (ASX:PLS), accepts its latest pre-auction bid for a spodumene cargo ahead of the tenth scheduled auction on the Battery Material Exchange (BMX).

A strong response was received for a shipment of 5,000dmt grading 5.5% , which was made available to the group of registered BMX participants prior to the auction.

A pre-auction offer of US$7,100/dmt (SC5.5, FOB Port Hedland basis) has been accepted which PLS says equates to a price of roughly US$7,830/dmt on a SC6.0 CIF China equivalent basis after adjusting for lithia content on a pro rata basis and freight costs.

Luke Laretive, Seneca Financial Solutions’ CEO says the $14.29b market cap company could be looking at $1.1bn in free cash flow – “I can’t see them paying a dividend or buying back their own shares,” he explains in an interview with Stockhead.

 

Lithium producers could be looking to secure strategic assets

“That means we could see a bit of an M&A frenzy with producers like Pilbara, Allkem and IGO looking to secure strategic assets of scale and increase their exposure to sustained higher prices.

“There is a large valuation differential between ASX-listed lithium developers who expect to get into production next year vs those with longer term development time horizons,” he says.

“We see an opportunity these generally higher quality, more strategic and larger scale projects who might not get into production until 2024 or 2025, as the most likely M&A targets.

“Developers that fit this bill include Vulcan Energy Resources (ASX:VUL), Piedmont Lithium (ASX:PLL) and Liontown Resources (ASX:LTR).”

 

Here’s how lithium ASX stocks are tracking:

CODE COMPANY PRICE % TODAY % WEEK % MONTH % YEAR MARKET CAP
TSC Twenty Seven Co. Ltd 0.0025 25% 25% 25% -40% $10,643,256
LRV Larvottoresources 0.26 18% 27% 13% 0% $9,137,150
TYX Tyranna Res Ltd 0.047 15% 7% -4% 683% $98,355,938
ENT Enterprise Metals 0.011 10% 0% -8% -15% $6,529,807
PAM Pan Asia Metals 0.4 10% 8% -11% -12% $53,602,290
SRI Sipa Resources Ltd 0.048 9% 4% -4% -16% $9,021,091
KGD Kula Gold Limited 0.039 8% 8% 95% -20% $12,103,629
RDT Red Dirt Metals Ltd 0.59 8% -1% -20% -21% $180,937,724
ARN Aldoro Resources 0.265 8% 23% 10% -34% $24,398,893
AZL Arizona Lithium Ltd 0.081 8% 3% -7% 65% $180,744,417
PGD Peregrine Gold 0.63 8% 8% 4% 47% $22,652,110
MQR Marquee Resource Ltd 0.058 7% -2% -17% -21% $17,151,349
WR1 Winsome Resources 0.365 7% 3% 14% 0% $45,938,758
ASN Anson Resources Ltd 0.3 7% 0% -22% 253% $328,939,493
LKE Lake Resources 1.0725 7% 8% 15% 83% $1,396,923,578
RGL Riversgold 0.048 7% -2% 26% 104% $34,933,547
LPI Lithium Pwr Int Ltd 0.56 6% -2% -8% 47% $207,336,597
WCN White Cliff Min Ltd 0.019 6% -24% -24% 58% $13,456,861
GT1 Greentechnology 0.8225 5% 12% 3% 0% $148,775,947
FRS Forrestaniaresources 0.195 5% -9% -15% -52% $7,920,091
ESS Essential Metals Ltd 0.51 5% -6% 2% 143% $120,455,901
1MC Morella Corporation 0.022 5% 5% -21% -65% $121,832,672
INR Ioneer Ltd 0.555 5% -10% -18% -13% $1,112,011,060
LRS Latin Resources Ltd 0.1025 5% 3% -15% 144% $193,265,142
GL1 Globallith 2.58 4% 16% -7% 562% $391,984,692
PLL Piedmont Lithium Inc 0.825 4% -1% -5% -3% $416,780,932
AS2 Askarimetalslimited 0.38 4% 3% 6% 81% $16,599,880
AGY Argosy Minerals Ltd 0.51 4% 7% -8% 137% $676,453,980
BNR Bulletin Res Ltd 0.13 4% 0% -4% 86% $36,573,888
ALY Alchemy Resource Ltd 0.026 4% -21% 13% 100% $29,326,906
G88 Golden Mile Res Ltd 0.027 4% -4% -18% -44% $5,319,334
EMS Eastern Metals 0.145 4% 0% 16% 0% $5,411,875
WML Woomera Mining Ltd 0.0145 4% -37% -19% -27% $9,615,663
KAI Kairos Minerals Ltd 0.029 4% -3% -28% -9% $54,994,618
LLL Leolithiumlimited 0.585 4% 2% -25% 0% $557,461,155
SYA Sayona Mining Ltd 0.2225 3% -3% -23% 44% $1,786,758,162
CHR Charger Metals 0.485 3% 2% -20% 8% $20,494,836
IR1 Irismetals 1.68 3% 1% -21% 489% $102,249,900
AX8 Accelerate Resources 0.035 3% 0% -5% -20% $9,195,603
CAI Calidus Resources 0.36 3% -24% -35% -41% $153,223,597
LTR Liontown Resources 1.7625 3% 15% 8% 12% $3,766,886,625
KZR Kalamazoo Resources 0.19 3% -5% -28% -49% $27,531,584
JRL Jindalee Resources 2.36 3% 7% -11% -2% $131,971,622
CXO Core Lithium 1.245 2% 9% -14% 128% $2,228,942,652
CY5 Cygnus Gold Limited 0.47 2% 7% 100% 292% $67,705,245
OCN Oceanalithiumlimited 0.48 2% -7% -27% 0% $15,756,750
BMM Balkanminingandmin 0.265 2% -10% -12% -63% $11,182,797
RAS Ragusa Minerals Ltd 0.28 2% -11% 10% 124% $36,028,472
CRR Critical Resources 0.061 2% 0% -21% 118% $89,411,259
KTA Krakatoa Resources 0.061 2% -13% -9% -5% $20,682,595
AOU Auroch Minerals Ltd 0.062 2% -6% -21% -65% $22,637,820
ZNC Zenith Minerals Ltd 0.32 2% 3% 8% 36% $108,600,118
AAJ Aruma Resources Ltd 0.068 1% 5% 5% -18% $10,516,421
MNS Magnis Energy Tech 0.345 1% -4% -25% 1% $329,912,704
GW1 Greenwing Resources 0.365 1% -1% 1% 30% $45,433,967
GLN Galan Lithium Ltd 1.2 1% -2% -12% 15% $360,915,309
PNN Power Minerals Ltd 0.45 1% -4% -34% 18% $32,109,880
MMG Monger Gold Ltd 0.45 1% 7% -10% 58% $17,817,800
AKE Allkem Limited 14.52 1% 3% -4% 68% $9,182,276,438
WES Wesfarmers Limited 44.71 1% 1% -1% -16% $50,285,814,733
IGO IGO Limited 15.115 0% -1% 8% 66% $11,412,025,942
ADV Ardiden Ltd 0.008 0% 14% 14% -33% $21,346,683
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 117% $2,752,409,203
EUR European Lithium Ltd 0.079 0% 1% -10% -15% $110,618,895
MLS Metals Australia 0.043 0% 0% -14% 8% $26,102,556
QPM Queensland Pacific 0.175 0% 17% 9% -33% $302,796,622
PSC Prospect Res Ltd 0.096 0% -4% 4% 322% $44,376,908
RLC Reedy Lagoon Corp. 0.014 0% 0% -7% -46% $7,803,977
TON Triton Min Ltd 0.023 0% 0% -8% -28% $31,804,036
LEL Lithenergy 1.12 0% -5% -10% 81% $67,368,000
NMT Neometals Ltd 1.05 0% -2% -19% 12% $579,963,833
AM7 Arcadia Minerals 0.29 0% -9% 4% 45% $13,542,389
BYH Bryah Resources Ltd 0.023 0% -4% -21% -55% $6,422,830
DTM Dart Mining NL 0.086 0% 10% -7% -25% $13,313,674
FG1 Flynngold 0.105 0% -5% 0% -30% $6,726,410
GSM Golden State Mining 0.038 0% -5% -21% -72% $4,446,540
IMI Infinitymining 0.22 0% -4% -10% 0% $13,886,125
MMC Mitremining 0.175 0% 3% -3% -22% $4,739,893
SHH Shree Minerals Ltd 0.008 0% -11% -20% -27% $9,907,895
TMB Tambourahmetals 0.14 0% -13% -18% -30% $5,766,964
TEM Tempest Minerals 0.032 0% 0% -14% 52% $16,152,518
MTM Mtmongerresources 0.12 0% -8% -14% -20% $4,501,204
SCN Scorpion Minerals 0.068 0% -3% -15% 10% $22,692,021
AZI Altamin Limited 0.08 0% -5% -9% -3% $31,337,340
AVW Avira Resources Ltd 0.0035 0% -13% -22% -42% $7,415,765
RMX Red Mount Min Ltd 0.005 0% -17% -17% -50% $8,211,819
MRR Minrex Resources Ltd 0.052 0% -9% -7% 189% $56,327,229
SRZ Stellar Resources 0.013 0% -7% -13% -61% $13,060,202
LSR Lodestar Minerals 0.0055 0% -8% -15% -50% $9,561,405
NWM Norwest Minerals 0.028 0% -32% -40% -67% $6,219,007
AOA Ausmon Resorces 0.007 0% -13% -13% 0% $6,001,025
VKA Viking Mines Ltd 0.007 0% 0% -13% -63% $7,176,809
IPT Impact Minerals 0.007 0% -7% -7% -52% $17,369,594
VMC Venus Metals Cor Ltd 0.14 0% -7% -20% -24% $22,411,016
EVR Ev Resources Ltd 0.025 0% -11% -19% -24% $23,149,602
WC8 Wildcat Resources 0.033 0% 3% -18% -42% $21,508,500
CZL Cons Zinc Ltd 0.028 0% 27% 27% -18% $12,961,801
MXR Maximus Resources 0.045 0% -2% -6% -45% $14,350,760
MM1 Midasmineralsltd 0.19 0% -7% -5% 0% $10,855,035
M2R Miramar 0.099 0% -1% -6% -51% $6,354,480
WMC Wiluna Mining Corp 0.205 0% 0% 0% -77% $74,238,031
ZEO Zeotech Limited 0.039 0% -3% -20% -54% $62,966,781
FTL Firetail Resources 0.2 0% -5% -23% 0% $12,356,500
LNR Lanthanein Resources 0.039 0% 3% -28% 117% $37,550,197
DAL Dalaroometalsltd 0.135 0% 0% 0% -45% $4,033,125
TUL Tulla Resources 0.45 0% 3% -7% -14% $72,097,592
PLS Pilbara Min Ltd 4.76 -1% -9% 4% 129% $14,296,881,258
DRE Dreadnought Resources Ltd 0.099 -1% 8% -14% 168% $304,253,355
MIN Mineral Resources. 68.21 -1% -4% 3% 57% $13,079,658,276
EMH European Metals Hldg 0.72 -1% 8% -15% -50% $87,373,472
RIO Rio Tinto Limited 92.59 -2% -5% 0% -7% $34,946,294,386
VUL Vulcan Energy 6.18 -2% -12% -23% -47% $901,579,043
AML Aeon Metals Ltd. 0.027 -2% -4% -10% -51% $30,069,346
LIT Lithium Australia 0.053 -2% 0% -10% -56% $65,860,733
NVA Nova Minerals Ltd 0.685 -2% 1% -12% -60% $128,562,893
INF Infinity Lithium 0.205 -2% 11% 17% 37% $87,506,952
STM Sunstone Metals Ltd 0.031 -3% -9% -23% -47% $83,086,285
TKM Trek Metals Ltd 0.058 -3% 5% -21% -57% $18,636,609
LRD Lordresourceslimited 0.28 -3% -3% 8% 0% $9,652,540
AUN Aurumin 0.08 -4% -17% -27% -60% $10,400,492
LIS Lisenergylimited 0.47 -4% -8% -18% -79% $81,297,952
EFE Eastern Resources 0.041 -5% 3% 32% 8% $45,185,495
EPM Eclipse Metals 0.02 -5% -9% -13% -57% $42,509,394
LPD Lepidico Ltd 0.018 -5% -5% -38% -30% $125,061,633
A8G Australasian Metals 0.26 -5% -9% -12% -60% $11,321,886
THR Thor Mining PLC 0.0085 -6% -6% -19% -47% $9,916,186
DAF Discovery Alaska Ltd 0.034 -6% -45% -55% -13% $8,072,449
QXR Qx Resources Limited 0.063 -6% -28% 103% 250% $59,084,776
RAG Ragnar Metals Ltd 0.025 -11% -14% -34% -42% $10,617,177
XTC Xantippe Res Ltd 0.008 -11% 0% -11% 300% $73,307,069
TKL Traka Resources 0.006 -14% 0% -14% -57% $4,821,422
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The S&P/ASX 200 lifted some 1.58% today taking with it a whole bunch of lithium companies – 60 finished in the green, 46 fell flat and 25 tumbled into the red zone.

 

Who else has got news out?

BULLETIN RESOURCES (ASX:BNR)

BNR has identified more than 50 new pegmatite targets by Light Detection and Ranging (LIDAR) as well as high-resolution aerial imagery, demonstrating a high likelihood of additional discoveries along the Eastern Pegmatite Trend at the Ravensthorpe Lithium Project.

The survey has identified numerous new pegmatite targets which have been unknown until now and lie along strike of the known spodumene bearing Big and Deep Purple pegmatites where rock chip grades up to 7.04 %Li2O were collected.

Importantly, the potential for a third pegmatite trend west of the Western Pegmatite trend has been reinforced.

Drilling of the Eastern Pegmatite Trend remains a priority for Bulletin and works to secure regulatory approvals are progressing.

 

SAYONA MINING (ASX:SYA)

Sayona has developed a transport solution for its North American Lithium (NAL) operation with a Quebec rail operator awarded the contract to deliver the spodumene to port.

Under the agreement, Solurail Logistique, will be responsible for the transportation of lithium in La Coren to the Port of Trois-Rivieres for delivery to customers.

The C$43 million contract includes the rental of 110 rolling stock with the equipment to be made available for the restart of production at NAL in the first quarter of 2023.

 

LAKE RESOURCES (ASX:LKE) 

LKE says it has strengthened its team with the appointment of Scott Munro to a newly created position of Senior Vice President.

“This role will lead Technology engagement for the company as it transitions towards development of resources and will support the continuing evolution of Strategy and Risk processes in support of long-term value creation for stakeholders,” Lake executive chairman Stuart Crow says.

“This is part of Lake’s aspirational target to produce 100,000 tpa of high purity lithium ; underpinning Lake ’s aim to become a leading lithium producer globally.”

 

CHARGER METALS (ASX:CHR)

Surveys at Lake Johnston are “progressing well” CHR managing director David Crook says, as the company looks forward to having its program of works (PoW) approved shortly and drilling starting shortly after.

Drilling will begin on the Medcalf spodumene pegmatite swarm where a recent flora survey has wrapped up and a heritage protection survey is confirmed for the final week of October.

A program of up to 40 reverse circulation drill holes is planned to test the Medcalf lithium prospect spodumene-bearing pegmatites – which comprises around 20 dykes that outcrop in an area 800m long, with a 300m wide corridor.

Meanwhile, target generation work continues at the Mount Day prospect where fieldwork, initially undertaken in 2016 identified lithium-enriched pegmatites, over an area of 10 km with numerous outcropping pegmatite dykes of LCT affinity.

 

TYRANNA RESOURCES (ASX:TYX)

Diamond drilling has kicked off at the Muvero prospect within the Namibe Lithium Project in Angola, Africa across six holes for 1,100m with plans to provide critical information that will enable optimised follow-up drilling.

TYX says it hopes these initial results will be incorporated into a subsequent resource drill-out if the above occurs.

 

LITHIUM PLUS MINERALS (ASX:LPM)

LPM has received high-grade lithium results from a phase-I drilling program at the Lei prospect within its flagship Bynoe Project.

A program of 13 holes were completed near the historic discovery hole which previously intersected 12m at 1.43% Li2O from 122m.

These assays returned significant extensional intersections of high-grade spodumene mineralisation including 11m at 1.48% Li2O from 196m and 17.8m at 1.40% Li2O from 217m, 11m at 1.03% Li2O from 173m and 13m at 1.31% Li2O from 192m.

The potential for considerable volume of mineralised pegmatite body has been identified and LPM says it will be followed up in phase-II drilling at Lei from late October.

The RC rig has now been relocated to the Jenny’s and Perseverance prospects to test a number of outcropping pegmatites.

 

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