• Azure’s potential takeover by mining titans Hancock Prospecting and SQM takes another step forward
  • Lithium spot prices appear to be on the up, and dare we say it… finally bottomed out?
  • Glut? What glut?… says Joe “Mr Lithium” Lowry

 

What did we learn about this and that pertaining to lithium here and there on Monday, March 4? Let’s find out…

 

First and foremost,  we found out that lithium spot prices have indeed responded very encouragingly to the lithium futures burst higher – the contango fandago that’s been playing out for weeks now.

Have a gander at the Lithium Price Bot. It’s the tastiest it’s looked in quite some time, with actual positive figures to boot.

It’s a delayed Christmas miracle.

Actually, hardly, not really. That’s according to die-hard lithium backers and experts, such as Joe “Mr Lithium Lowry – host of the Global Lithium podcast – for instance, who posted some typically “them’s fighting words” a bit earlier to his LinkedIn account:

“A matter of perspective. No credible voice believes there is a “glut”of battery quality lithium supply. Clickbait headlines abound.”

Hmm, don’t think we’ve ever used the word glut to describe the lithium supply glu… ah, never mind.

“Yes, due to a drawdown in battery supply chain inventories and China’s rush to produce unsustainable low grade materials (not viable at current prices), price came down from ridiculous panic induced highs of 2022,” continued Messrs Lithium, adding:

“Look at the record – the current prices are relatively HIGH by historical standards.

“Do I believe price goes up from here? Yes, but producers like SQM & Pilbara Minerals Limited are showing insight not bravery by forging ahead with expansions.

“An industry going through 10X growth over this decade is going to be volatile.”

Insight not bravery – dig that bit.

 

Azure’s Hancock deal progresses

Hancock Prospecting has announced that the proposed joint acquisition with Sociedad Química y Minera de Chile S.A. (SQM) of Azure Minerals (ASX:AZS) has progressed with the release of the Transaction Booklet today.

This follows a recent announcement that competition approvals have been achieved.

Azure is 60% owner/operator (40% Creasy Group) of the renowned, highly prospective Andover lithium and nickel-copper-cobalt project in the west Pilbara region of WA.

Essentially what needs to happen next is approval of the deal from Azure shareholders, and Hancock and SQM have indicated now’s the time to take the $1.7 billion offer lest lithium prices plunge again.

An independent expert overseeing the deal has determined that the joint acquisition is in the “best interests of Azure Shareholders and that the Takeover Offer is fair and reasonable”.

Hancock has reportedly urged Azure shareholders to support the transaction, “to realise immediate value for their shares, and avoid the uncertainties associated with the Andover project as well as lithium market volatility.”

Meanwhile, two major shareholders, Creasy Group (12.8%) and Delphi Group (10.2%) have confirmed they intend to sell all of their shares to the Joint Bidders, in the absence of a superior proposal for Azure.

Hancock Prospecting’s CEO Garry Korte said:

“Hancock is delighted to be progressing the acquisition of Azure in partnership with SQM. Andover has the potential to be a globally significant lithium project of scale and quality.

“Recent short term market volatility has highlighted the need for a long term approach to the development of resource projects. Increasingly there is a need for experienced and well-funded owners that are able to progress development through the increasing challenging approvals processes and unlock the project value.

This transaction provides an opportunity for shareholders to avoid the future uncertainties of project development by supporting the transaction.”

 

ASX lithium form guide

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at 3pm.) 

Stocks missing from this list? Email [email protected]

CODE COMPANY TODAY WEEK 1 MONTH % 12 MONTH % PRICE MARKET CAP
ADV Ardiden Ltd 7% 0% -17% -50% 0.15 $8,752,451
AGY Argosy Minerals Ltd -16% 17% 38% -82% 0.135 $224,705,200
1MC Morella Corporation -13% 0% -30% -70% 0.0035 $24,715,198
AML Aeon Metals Ltd. 0% 0% -22% -70% 0.007 $7,674,804
ASN Anson Resources Ltd 7% 18% 28% -48% 0.105 $126,099,364
AVZ AVZ Minerals Ltd 0% 0% 0% 0% 0.78 $2,752,409,203
CXO Core Lithium 2% 17% 26% -74% 0.245 $512,864,531
EMH European Metals Hldg -7% 14% 16% -43% 0.335 $45,246,785
EUR European Lithium Ltd -2% -7% -7% 14% 0.08 $114,327,612
GLN Galan Lithium Ltd -5% 31% 2% -64% 0.42 $171,310,412
INF Infinity Lithium 1% 1% -6% -30% 0.073 $33,306,631
INR Ioneer Ltd 7% 15% 29% -58% 0.155 $306,241,761
JLL Jindalee Lithium Ltd 1% -16% -19% -70% 0.78 $46,879,841
LIT Lithium Australia 0% -4% 0% -31% 0.027 $33,001,875
LKE Lake Resources -6% 16% 37% -80% 0.1275 $192,249,518
LPD Lepidico Ltd 8% 8% 8% -54% 0.0065 $45,829,848
LPI Lithium Pwr Int Ltd 1% 6% 1% 55% 0.565 $358,696,328
LTR Liontown Resources 4% 24% 34% -5% 1.33 $3,113,874,352
MIN Mineral Resources. -2% 6% 13% -23% 66.21 $13,243,399,140
MLS Metals Australia 0% -3% -13% -39% 0.028 $19,806,347
AKE Allkem Limited 0% -100% -100% -100% 0 $6,304,350,967
PLL Piedmont Lithium Inc 3% 19% -1% -75% 0.2375 $88,735,955
PLS Pilbara Min Ltd 0% 20% 27% 4% 4.39 $13,181,469,599
QPM Queensland Pacific 3% 0% -3% -59% 0.038 $74,463,992
PSC Prospect Res Ltd -3% -1% -14% -66% 0.069 $32,896,569
RLC Reedy Lagoon Corp. 0% 0% 0% -48% 0.004 $2,478,163
SYA Sayona Mining Ltd -1% 6% 17% -81% 0.0445 $463,198,321
TKL Traka Resources 0% -25% -25% -68% 0.0015 $2,625,988
TON Triton Min Ltd -6% -17% -17% -56% 0.015 $24,982,283
VUL Vulcan Energy -1% 20% 23% -59% 2.55 $442,227,631
GL1 Globallith -2% 28% 29% -60% 0.645 $171,775,097
BMM Balkanminingandmin 0% -9% -9% -80% 0.069 $4,901,795
LEL Lithenergy -7% 13% 50% -26% 0.54 $59,745,800
ARN Aldoro Resources -6% -4% -29% -60% 0.085 $12,116,137
NMT Neometals Ltd 3% 15% 11% -81% 0.155 $93,403,547
IGO IGO Limited -2% 13% 12% -40% 8.14 $6,285,322,848
AAJ Aruma Resources Ltd 7% 7% -24% -74% 0.016 $2,953,373
PAM Pan Asia Metals 0% 0% 0% -57% 0.16 $26,850,684
AX8 Accelerate Resources 10% 31% 31% 21% 0.034 $18,909,111
AM7 Arcadia Minerals -8% 6% 35% -68% 0.074 $8,724,008
AS2 Askarimetalslimited -1% 5% -16% -84% 0.084 $6,764,956
BYH Bryah Resources Ltd -11% -11% -33% -61% 0.008 $3,919,082
EMS Eastern Metals 3% -23% -6% -53% 0.031 $2,472,787
FG1 Flynngold -11% -20% -30% -50% 0.04 $7,386,341
FRS Forrestaniaresources 0% 0% -15% -83% 0.023 $3,721,072
GSM Golden State Mining 10% 10% -15% -71% 0.011 $2,793,706
IMI Infinitymining 0% -26% -19% -55% 0.081 $9,619,025
LRV Larvottoresources 2% -5% -14% -57% 0.06 $13,193,087
MMC Mitremining 4% 4% 21% -3% 0.29 $24,966,176
RAG Ragnar Metals Ltd -5% -10% -14% 25% 0.019 $9,479,619
CTN Catalina Resources 0% -20% -20% -43% 0.004 $4,953,948
TMB Tambourahmetals 0% -3% 10% -16% 0.088 $7,298,751
TEM Tempest Minerals 0% 14% 7% -65% 0.008 $4,152,995
EMC Everest Metals Corp 0% 0% 5% -7% 0.08 $13,142,649
WCN White Cliff Min Ltd 7% 7% 0% 45% 0.016 $20,069,122
WML Woomera Mining Ltd 0% 0% -20% -67% 0.004 $4,872,556
AZL Arizona Lithium Ltd -5% 10% 38% -55% 0.0275 $110,531,107
CRR Critical Resources -6% -6% 21% -64% 0.017 $32,001,305
KGD Kula Gold Limited 0% 0% 33% -60% 0.008 $3,699,695
LRS Latin Resources Ltd 3% 20% 42% 98% 0.2275 $615,872,282
PNN Power Minerals Ltd 0% 20% 40% -52% 0.21 $18,348,981
WR1 Winsome Resources -1% 39% 65% -56% 0.915 $175,522,247
KZR Kalamazoo Resources 0% 2% 4% -45% 0.097 $16,955,943
MTM MTM Critical Metals 0% -10% 18% -38% 0.087 $10,813,783
QXR Qx Resources Limited 0% 17% 40% -45% 0.021 $23,311,635
SCN Scorpion Minerals 20% 88% 20% -57% 0.03 $10,236,405
AZI Altamin Limited 10% 10% 10% -25% 0.055 $21,942,452
ENT Enterprise Metals 0% 0% -25% -63% 0.003 $2,405,913
KAI Kairos Minerals Ltd -7% 8% -13% -25% 0.013 $36,692,771
STM Sunstone Metals Ltd 0% 20% 33% -63% 0.012 $42,007,819
PGD Peregrine Gold 0% 0% -25% -49% 0.235 $15,880,929
AVW Avira Resources Ltd 0% 0% -50% -60% 0.001 $2,133,790
NVA Nova Minerals Ltd 10% 8% -14% -47% 0.285 $54,831,416
GT1 Greentechnology 0% 52% 36% -72% 0.19 $60,562,898
BNR Bulletin Res Ltd -10% -9% -14% -42% 0.07 $22,901,839
CAI Calidus Resources 0% 0% -17% -33% 0.15 $91,894,073
MRR Minrex Resources Ltd 0% 15% 15% -50% 0.015 $16,273,013
A8G Australasian Metals 11% -15% -32% -59% 0.068 $3,179,350
EFE Eastern Resources 0% 0% 14% -50% 0.008 $9,935,572
MQR Marquee Resource Ltd 0% -13% -9% -33% 0.02 $8,267,688
SRZ Stellar Resources 0% 22% 57% -8% 0.011 $15,799,114
LSR Lodestar Minerals 0% 0% -20% -60% 0.002 $4,046,795
NWM Norwest Minerals 3% 7% 33% 0% 0.032 $10,613,455
AOA Ausmon Resorces 0% 50% 20% -50% 0.003 $3,176,998
VKA Viking Mines Ltd 0% 0% -8% 10% 0.011 $11,277,843
IPT Impact Minerals 9% 0% 0% 33% 0.012 $31,511,743
SRI Sipa Resources Ltd 0% -5% -14% -37% 0.019 $4,335,005
VMC Venus Metals Cor Ltd 0% 4% -5% 27% 0.1 $18,972,868
RGL Riversgold 0% 13% -18% -57% 0.009 $8,708,953
ZNC Zenith Minerals Ltd 19% 1% -30% -59% 0.095 $28,190,471
RAS Ragusa Minerals Ltd 8% 13% -13% -74% 0.027 $3,564,970
G88 Golden Mile Res Ltd 0% -8% -15% -46% 0.011 $4,523,451
EPM Eclipse Metals 17% -13% -13% -65% 0.007 $12,450,325
EVR Ev Resources Ltd 8% 0% 40% -13% 0.014 $15,009,648
WC8 Wildcat Resources 3% 30% 80% 2572% 0.775 $896,878,592
MNS Magnis Energy Tech 0% 0% 0% -89% 0.042 $50,378,922
RIO Rio Tinto Limited -1% -1% -7% 3% 123.02 $46,353,768,642
THR Thor Energy PLC 0% -4% -24% -55% 0.025 $4,644,303
YAR Yari Minerals Ltd 20% 0% -40% -67% 0.006 $2,411,789
MXR Maximus Resources 0% 0% -11% -9% 0.031 $9,949,319
DRE Dreadnought Resources Ltd 3% -8% -3% -78% 0.0185 $62,668,313
MM1 Midasmineralsltd 0% -11% -20% -47% 0.08 $6,939,780
M2R Miramar 6% -10% -22% -71% 0.018 $2,530,782
LLI Loyal Lithium Ltd -10% 0% 24% -21% 0.28 $25,819,069
LRD Lordresourceslimited -6% -10% -20% -75% 0.047 $1,856,606
WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031
AUN Aurumin 8% 21% 37% -18% 0.041 $14,000,837
ZEO Zeotech Limited -6% 7% -3% -50% 0.029 $53,736,115
ALY Alchemy Resource Ltd 14% 0% 0% -50% 0.008 $8,246,534
LIS Lisenergylimited 0% -3% 3% -47% 0.15 $96,030,035
GW1 Greenwing Resources -1% 8% -17% -65% 0.078 $14,318,867
KTA Krakatoa Resources -11% -14% -40% -68% 0.012 $6,373,447
TYX Tyranna Res Ltd 4% -11% -17% -43% 0.0125 $39,449,104
DAF Discovery Alaska Ltd 0% -20% -20% -45% 0.016 $3,747,755
FTL Firetail Resources 12% 18% -2% -60% 0.058 $7,743,089
IR1 Irismetals 18% 21% 27% -38% 0.72 $79,016,339
LNR Lanthanein Resources 17% -30% -42% -81% 0.0035 $5,564,727
DAL Dalaroometalsltd 0% -5% -10% -76% 0.019 $1,572,250
TKM Trek Metals Ltd 0% -11% -8% -46% 0.034 $17,444,613
CY5 Cygnus Metals Ltd -3% 8% -6% -81% 0.065 $19,534,462
TUL Tulla Resources 0% -100% -100% -100% 0 $118,262,971
WES Wesfarmers Limited 0% 2% 14% 37% 66.09 $75,298,029,354
LLL Leolithiumlimited 0% 0% 0% -7% 0.505 $498,553,663
OCN Oceanalithiumlimited -5% 11% -2% -84% 0.061 $3,460,896
A11 Atlantic Lithium 6% 15% 15% -34% 0.43 $263,115,966
CMD Cassius Mining Ltd 10% -66% -68% -67% 0.011 $5,420,045
VSR Voltaic Strategic -5% -5% 25% 0% 0.02 $10,145,182
SGQ St George Min Ltd 0% 5% -16% -70% 0.021 $20,759,349
LLO Lion One Metals Ltd 0% 0% -31% -31% 0.62 $9,586,267
PAT Patriot Lithium -10% -26% -39% -79% 0.07 $5,430,136
PL3 Patagonia Lithium 0% -12% 20% 0% 0.15 $7,369,275
BUR Burleyminerals -3% -17% -36% -80% 0.058 $6,197,805
CHR Charger Metals 0% -8% 0% -61% 0.12 $9,290,430
RMX Red Mount Min Ltd 0% 0% -20% -56% 0.002 $5,347,152
DLI Delta Lithium -1% 17% 17% -13% 0.34 $245,577,776
LM1 Leeuwin Metals Ltd 0% -9% -20% 0% 0.08 $3,748,134
ENT Enterprise Metals 0% 0% -25% -63% 0.003 $2,405,913
FIN FIN Resources Ltd -6% 7% -12% 0% 0.015 $10,388,299
DTM Dart Mining NL 6% 31% 21% -59% 0.017 $3,641,274
NIS Nickelsearch 6% 0% -22% -61% 0.035 $7,046,901
EG1 Evergreenlithium 0% 0% -8% 0% 0.11 $6,185,300
MAN Mandrake Res Ltd -3% 5% 0% -15% 0.039 $24,630,397
FBM Future Battery 0% 7% 20% 3% 0.06 $32,025,359
LPM Lithium Plus -5% 17% 0% -30% 0.21 $18,917,404
KOB Kobaresourceslimited 0% -15% -33% -27% 0.11 $14,345,833
EMC Everest Metals Corp 0% 0% 5% -7% 0.08 $13,142,649
LRD Lordresourceslimited -6% -10% -20% -75% 0.047 $1,856,606
IEC Intra Energy Corp -20% -20% -20% -67% 0.002 $4,226,954
REC Rechargemetals 1% -5% 6% -42% 0.072 $7,905,990
SLM Solismineralsltd -7% 0% 8% -13% 0.13 $10,988,425
AZS Azure Minerals 1% 3% -1% 1120% 3.6 $1,637,486,083
DYM Dynamicmetalslimited 0% 0% 7% 0% 0.16 $5,760,000
TOR Torque Met -8% -6% -18% 10% 0.165 $27,549,634
SBR Sabre Resources -11% -15% -32% -37% 0.017 $7,110,977
ICL Iceni Gold -5% 16% -18% -60% 0.037 $9,615,881
TMX Terrain Minerals 13% -10% -10% -36% 0.0045 $5,726,683
MHC Manhattan Corp Ltd 0% 20% -25% -50% 0.003 $8,810,939
MHK Metalhawk. 0% 1% -19% -42% 0.072 $7,157,840
NKL Nickelxltd 0% -5% -29% -51% 0.035 $3,073,531
TMB Tambourahmetals 0% -3% 10% -16% 0.088 $7,298,751
ANX Anax Metals Ltd 5% 11% -9% -69% 0.021 $10,848,959
PMT Patriotbatterymetals -10% 19% 24% -45% 0.905 $562,317,170
BM8 Battery Age Minerals 0% -3% 7% -67% 0.16 $14,681,651
L1M Lightning Minerals -1% -3% -18% -56% 0.07 $2,997,980
ADG Adelong Gold Limited 0% -10% -10% -44% 0.0045 $3,148,450
TOR Torque Met -8% -6% -18% 10% 0.165 $27,549,634
AL8 Alderan Resource Ltd 0% -20% 14% -43% 0.004 $4,427,445
OZM Ozaurum Resources 1% 0% 4% 46% 0.073 $11,430,000
FL1 First Lithium Ltd 0% 6% -7% 42% 0.255 $17,863,175
PLN Pioneer Lithium 0% -3% -3% 0% 0.155 $4,405,875
WYX Western Yilgarn NL 0% -28% -28% -37% 0.063 $3,128,423
RDN Raiden Resources Ltd 4% 17% 17% 489% 0.028 $71,727,798
PFE Panteraminerals 22% 12% -5% -50% 0.055 $6,688,015
GRE Greentechmetals 0% 23% 20% 74% 0.27 $22,701,593
OLY Olympio Metals Ltd 0% 6% 50% -31% 0.09 $5,723,955
SUM Summitminerals 1% -4% -7% -49% 0.069 $3,240,685
JBY James Bay Minerals 0% 3% 0% 0% 0.18 $5,840,100
SCN Scorpion Minerals 20% 88% 20% -57% 0.03 $10,236,405
JNO Juno -7% -12% -21% -20% 0.067 $13,100,059
CC9 Chariot Corporation -2% 21% -17% 0% 0.315 $26,171,635
OBM Ora Banda Mining Ltd 0% 2% 14% 127% 0.25 $426,877,995
RON Roninresourcesltd -5% -9% -13% -32% 0.105 $4,050,751
ASR Asra Minerals Ltd 0% 0% 0% -43% 0.006 $9,918,974
PFE Panteraminerals 22% 12% -5% -50% 0.055 $6,688,015
TG6 Tgmetalslimited 2% -5% 11% 108% 0.26 $13,791,973
HAW Hawthorn Resources 0% -7% -21% -13% 0.077 $25,796,202
KM1 Kalimetalslimited -3% 13% -3% 0% 0.45 $35,499,074
AEV Avenira Limited 0% 0% -9% -29% 0.01 $21,925,716
Wordpress Table Plugin

 

For more on the latest regarding lithium and other critically important metals and minerals, read Josh Chiat’s excellent Up, Up, Down, Down. But here’s a snippet from the lithium section…

UPSIDE

SQM believes sale prices for lithium will remain stable for the next three months, predicting a pick up as lithium demand grows 20% this year.

Pilbara Minerals announced a second expanded offtake with Chinese customers last month as local producers report anecdotally say interest in securing long term spodumene supply is ramping up.

DOWNSIDE

European EV sales growth could slow with he roll off of subsidies in Germany.

The crunch on marginal producers may not yet be over, with Sayona Mining still to complete the review of its loss making North American Lithium mine in Quebec.

Read MoreLithium

Featured Companies

You might be interested in