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Eye on Lithium: Battery electric vehicle sales accelerate but new policies needed to bring more into the country
Mining
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- Fin Resources acquires three highly prospective lithium projects in Quebec, Canada
- Midas enters into a non-binding agreement to earn into 80% of mineral rights at the Yellowknife project
- Dart Mining kicks off 3,000m diamond drilling program at the Dorchap lithium project
All your lithium news, Wednesday April 5.
Battery electric vehicle sales in Australia grew by 19.5% on March 2022 figures as consumer demand for EVs continues to outstrip supply.
The latest figures released by the Federal Chamber of Automotive Industries (FCAI) shows EVs now make up 6.8% of the total 97,251 of new vehicle sales, indicating that where possible, Australians will opt to buy them.
FCAI CEO Tony Weber said March was a solid month for new car sales given the supply constraints car makers are facing both domestically and internationally.
“Year-to-date sales have increased 2.5 per cent, which is a better indicator of the underlying strength of the market.
“But if we want more zero- and low-emission vehicles on our roads, then we must provide the necessary recharging infrastructure and move to implement an ambitious yet achievable fuel efficiency standard, which will encourage manufacturers to allocate more of the limited supply to Australia,” he added.
Toyota led the market with a total of 13,223 vehicles sold, followed by Mazda (8,243), Ford (6,485), Kia (6,403) and Mitsubishi (5,863).
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | RETURN TODAY % | MARKET CAP |
|---|---|---|---|---|
| DTM | Dart Mining NL | 0.068 | 33% | $7,936,649 |
| FG1 | Flynngold | 0.096 | 20% | $8,229,883 |
| LLO | Lion One Metals Ltd | 1.1 | 18% | $11,168,336 |
| KZR | Kalamazoo Resources | 0.15 | 15% | $19,476,519 |
| AUN | Aurumin | 0.032 | 14% | $5,537,230 |
| AX8 | Accelerate Resources | 0.026 | 13% | $8,684,840 |
| QPM | Queensland Pacific | 0.145 | 12% | $227,025,230 |
| TUL | Tulla Resources | 0.29 | 12% | $83,669,041 |
| LPD | Lepidico Ltd | 0.011 | 10% | $76,377,717 |
| QXR | Qx Resources Limited | 0.036 | 9% | $29,596,457 |
| VMC | Venus Metals Cor Ltd | 0.185 | 9% | $30,273,376 |
| SRI | Sipa Resources Ltd | 0.026 | 8% | $5,475,795 |
| G88 | Golden Mile Res Ltd | 0.013 | 8% | $3,161,187 |
| INF | Infinity Lithium | 0.135 | 8% | $57,824,012 |
| PGD | Peregrine Gold | 0.405 | 8% | $18,032,726 |
| LRD | Lordresourceslimited | 0.215 | 8% | $7,246,424 |
| CXO | Core Lithium | 0.86 | 7% | $1,493,288,519 |
| TON | Triton Min Ltd | 0.032 | 7% | $41,483,525 |
| KGD | Kula Gold Limited | 0.016 | 7% | $5,418,179 |
| EVR | Ev Resources Ltd | 0.016 | 7% | $14,039,761 |
| PNN | Power Minerals Ltd | 0.45 | 6% | $30,704,483 |
| RAS | Ragusa Minerals Ltd | 0.096 | 5% | $12,976,490 |
| MMC | Mitremining | 0.29 | 5% | $10,514,653 |
| MM1 | Midasmineralsltd | 0.195 | 5% | $10,569,376 |
| KAI | Kairos Minerals Ltd | 0.021 | 5% | $39,281,870 |
| IPT | Impact Minerals | 0.0105 | 5% | $24,813,706 |
| SRZ | Stellar Resources | 0.011 | 5% | $10,548,625 |
| CY5 | Cygnus Metals Ltd | 0.22 | 5% | $38,613,585 |
| TKM | Trek Metals Ltd | 0.07 | 4% | $24,384,321 |
| TMB | Tambourahmetals | 0.091 | 3% | $3,624,949 |
| ZNC | Zenith Minerals Ltd | 0.155 | 3% | $52,755,907 |
| LIT | Lithium Australia | 0.033 | 3% | $39,078,134 |
| LEL | Lithenergy | 0.66 | 3% | $38,496,000 |
| OCN | Oceanalithiumlimited | 0.34 | 3% | $12,400,245 |
| NWM | Norwest Minerals | 0.042 | 2% | $10,142,220 |
| CAI | Calidus Resources | 0.22 | 2% | $94,503,431 |
| M2R | Miramar | 0.044 | 2% | $3,359,235 |
| JRL | Jindalee Resources | 2.4 | 2% | $134,840,570 |
| LTR | Liontown Resources | 2.64 | 2% | $5,693,997,499 |
| LKE | Lake Resources | 0.4675 | 2% | $654,324,565 |
| LIS | Lisenergylimited | 0.33 | 2% | $53,922,111 |
| EMC | Everest Metals Corp | 0.07 | 1% | $7,343,885 |
| EUR | European Lithium Ltd | 0.072 | 1% | $105,735,981 |
| SYA | Sayona Mining Ltd | 0.1975 | 1% | $1,733,949,571 |
| ESS | Essential Metals Ltd | 0.4875 | 1% | $129,769,847 |
| GL1 | Globallith | 1.405 | 0% | $298,442,558 |
| ADV | Ardiden Ltd | 0.008 | 0% | $21,506,683 |
| 1MC | Morella Corporation | 0.009 | 0% | $54,887,224 |
| AML | Aeon Metals Ltd. | 0.023 | 0% | $25,217,214 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| RLC | Reedy Lagoon Corp. | 0.008 | 0% | $4,533,757 |
| TKL | Traka Resources | 0.006 | 0% | $4,336,647 |
| BMM | Balkanminingandmin | 0.24 | 0% | $10,745,283 |
| ARN | Aldoro Resources | 0.185 | 0% | $20,888,779 |
| CHR | Charger Metals | 0.315 | 0% | $13,770,026 |
| AM7 | Arcadia Minerals | 0.2 | 0% | $9,339,578 |
| BYH | Bryah Resources Ltd | 0.022 | 0% | $6,187,576 |
| EMS | Eastern Metals | 0.062 | 0% | $2,421,994 |
| GSM | Golden State Mining | 0.034 | 0% | $3,978,483 |
| RAG | Ragnar Metals Ltd | 0.016 | 0% | $6,066,958 |
| CTN | Catalina Resources | 0.005 | 0% | $6,192,434 |
| TEM | Tempest Minerals | 0.02 | 0% | $10,130,057 |
| WCN | White Cliff Min Ltd | 0.007 | 0% | $5,488,381 |
| WML | Woomera Mining Ltd | 0.01 | 0% | $9,561,612 |
| MTM | Mtmongerresources | 0.115 | 0% | $8,137,428 |
| AZI | Altamin Limited | 0.0705 | 0% | $27,616,031 |
| ENT | Enterprise Metals | 0.009 | 0% | $6,345,726 |
| STM | Sunstone Metals Ltd | 0.0335 | 0% | $87,784,955 |
| NVA | Nova Minerals Ltd | 0.465 | 0% | $98,063,746 |
| RMX | Red Mount Min Ltd | 0.004 | 0% | $9,087,404 |
| MRR | Minrex Resources Ltd | 0.017 | 0% | $18,442,748 |
| A8G | Australasian Metals | 0.18 | 0% | $7,410,689 |
| EFE | Eastern Resources | 0.011 | 0% | $13,661,411 |
| MQR | Marquee Resource Ltd | 0.02 | 0% | $6,544,150 |
| AOA | Ausmon Resorces | 0.0045 | 0% | $4,361,802 |
| VKA | Viking Mines Ltd | 0.011 | 0% | $11,277,843 |
| RGL | Riversgold | 0.016 | 0% | $15,127,483 |
| THR | Thor Energy PLC | 0.0045 | 0% | $6,651,508 |
| CZL | Cons Zinc Ltd | 0.018 | 0% | $8,682,441 |
| XTC | Xantippe Res Ltd | 0.004 | 0% | $42,320,399 |
| LLI | Loyal Lithium Ltd | 0.32 | 0% | $19,036,800 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ZEO | Zeotech Limited | 0.054 | 0% | $88,598,106 |
| ALY | Alchemy Resource Ltd | 0.014 | 0% | $16,493,068 |
| KTA | Krakatoa Resources | 0.028 | 0% | $9,651,878 |
| DAF | Discovery Alaska Ltd | 0.03 | 0% | $6,727,041 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| DAL | Dalaroometalsltd | 0.059 | 0% | $1,762,625 |
| CMD | Cassius Mining Ltd | 0.022 | 0% | $8,986,844 |
| VSR | Voltaic Strategic | 0.019 | 0% | $5,838,704 |
| PAT | Patriot Lithium | 0.27 | 0% | $16,439,626 |
| PLS | Pilbara Min Ltd | 3.685 | 0% | $11,062,669,885 |
| WES | Wesfarmers Limited | 51.29 | 0% | $58,400,610,094 |
| INR | Ioneer Ltd | 0.2975 | -1% | $629,501,480 |
| BNR | Bulletin Res Ltd | 0.089 | -1% | $26,423,199 |
| IGO | IGO Limited | 12.4 | -1% | $9,496,138,375 |
| MIN | Mineral Resources. | 78.13 | -1% | $15,264,983,847 |
| RDT | Red Dirt Metals Ltd | 0.35 | -1% | $157,942,159 |
| GT1 | Greentechnology | 0.69 | -1% | $133,516,875 |
| RIO | Rio Tinto Limited | 116 | -1% | $43,706,997,036 |
| A11 | Atlantic Lithium | 0.53 | -2% | $327,100,496 |
| GLN | Galan Lithium Ltd | 1.015 | -2% | $317,657,444 |
| AZL | Arizona Lithium Ltd | 0.05 | -2% | $137,239,251 |
| LLL | Leolithiumlimited | 0.49 | -2% | $493,328,456 |
| MNS | Magnis Energy Tech | 0.23 | -2% | $237,427,899 |
| EMH | European Metals Hldg | 0.635 | -2% | $81,824,575 |
| AKE | Allkem Limited | 11.16 | -2% | $7,288,431,923 |
| CRR | Critical Resources | 0.041 | -2% | $66,979,705 |
| FBM | Future Battery | 0.076 | -3% | $33,371,920 |
| AAJ | Aruma Resources Ltd | 0.07 | -3% | $11,301,228 |
| ASN | Anson Resources Ltd | 0.165 | -3% | $207,634,210 |
| SCN | Scorpion Minerals | 0.066 | -3% | $23,508,021 |
| VUL | Vulcan Energy | 5.83 | -3% | $862,046,159 |
| DRE | Dreadnought Resources Ltd | 0.063 | -3% | $214,092,334 |
| PSC | Prospect Res Ltd | 0.155 | -3% | $73,961,514 |
| WC8 | Wildcat Resources | 0.031 | -3% | $21,184,727 |
| AS2 | Askarimetalslimited | 0.41 | -4% | $25,512,975 |
| AGY | Argosy Minerals Ltd | 0.405 | -4% | $589,851,149 |
| WR1 | Winsome Resources | 1.49 | -4% | $251,150,401 |
| PLL | Piedmont Lithium Inc | 0.805 | -4% | $363,534,360 |
| FRS | Forrestaniaresources | 0.086 | -4% | $5,480,217 |
| LRS | Latin Resources Ltd | 0.105 | -5% | $242,182,041 |
| PAM | Pan Asia Metals | 0.305 | -5% | $49,633,789 |
| GW1 | Greenwing Resources | 0.2 | -5% | $31,235,821 |
| MLS | Metals Australia | 0.039 | -5% | $24,888,484 |
| SGQ | St George Min Ltd | 0.056 | -5% | $49,590,122 |
| TYX | Tyranna Res Ltd | 0.018 | -5% | $45,722,081 |
| LNR | Lanthanein Resources | 0.018 | -5% | $21,309,936 |
| NMT | Neometals Ltd | 0.5625 | -5% | $328,881,000 |
| IMI | Infinitymining | 0.17 | -6% | $13,766,097 |
| EPM | Eclipse Metals | 0.017 | -6% | $36,505,076 |
| MXR | Maximus Resources | 0.04 | -7% | $13,719,398 |
| LPI | Lithium Pwr Int Ltd | 0.31 | -7% | $210,747,683 |
| LSR | Lodestar Minerals | 0.005 | -9% | $9,561,405 |
| LRV | Larvottoresources | 0.14 | -13% | $10,760,756 |
| FTL | Firetail Resources | 0.1 | -17% | $7,800,000 |
| AVW | Avira Resources Ltd | 0.002 | -33% | $6,401,370 |
A total of 45 companies finished in the green, 48 fell flat, and 44 tumbled into the red.
Who’s got news out?
FIN RESOURCES (ASX:FIN)
FIN has agreed to acquire three highly prospective lithium projects in Quebec, Canada with two of these located in the red-hot James Bay region where several ASX players – such as Patriot Battery Metals, Winsome Resources, and Battery Age Minerals – have made a move on the district’s untapped lithium potential.
Fins projects (Cancest West, Ross lithium, and Gaspe) cover a combined 130km2 with detailed mapping, outcrop sampling, and geochemical sampling to take place once the acquisition completes.
MIDAS MINERALS (ASX:MM1)
Midas has entered into a non-binding agreement to earn into 80% of critical minerals rights over a large (544km2) portion of Gold Terra Resource Corp’s Yellowknife project just outside of Yellowknife City in Canada.
The deal is set to provide Midas with access to a large, permitted tenement area and a significant library of exploration data in a region with known spodumene endowment.
Midas will join several groups with lithium projects nearby, including Li-FT Power and Patriot Battery Metals (ASX:PMT)
“Gold Terra has completed detailed magnetics, radiometrics, LiDAR and aerial imagery over the entire area, so we are in a position to hit the ground running in terms of lithium exploration,” Midas MD Mark Calderwood said.
DART MINING (ASX:DTM)
DTM has kicked off an initial 3,000m diamond drilling program at the Dorchap lithium project in Victoria, Australia.
Drilling has started with the first diamond hole at Eagle Dyke with pegmatite intersected from 77.6m down hole.
DTM says a total of five pegmatites will be tested along the northern portion of the project while rock-chip sampling crews carry out mapping and sampling work across additional LiDAR pegmatite targets.
NICKELSEARCH (ASX:NIS)
An independent geochemical review has highlighted the exceptional multi-commodity prospectivity at the company’s Carlingup project in Western Australia, which has flagged potential for lithium and VHMS mineralisation in addition to the nickel sulphide potential.
“It is hugely exciting to have confirmation that our tenements are prospective for many minerals that are needed in the energy transition, including lithium,” NIS MD Nicole Duncan says.
“Having areas of prospectivity highlighted independently confirms the value of examining all available data using the latest knowledge and techniques.”
LEO LITHIUM (ASX:LLL)
Leo Lithium has validated haulage routes at the Goulamina lithium project in Mali.
Substantial progress has been made with regards to defining the optimal materials handling solutions for delivering both direct ship ore (DSO) and spodumene concentrate to ports in Côte d’Ivoire.
Meanwhile, inspections and discussions have confirmed the suitability of the San Pedro Port in the west of Côte d’Ivoire to act as a secondary port, with Leo Lithium’s senior management driving the entire route from mine site to port in late March.
WESTERN YILGARN NL (ASX:WYX)
Western Yilgarn is developing a pipeline of promising early-stage exploration projects which it has started to systematically explore.
A lithium-bearing pegmatite has been identified over a 3km x 2km anomaly from an initial 234-hole auger geochemistry program at the Boodanoo project in Western Australia.
Next steps include a Phase-2 infill auger program will begin with targeted infill drilling to enable follow-up aircore/ RC drilling.
FUTURE BATTERY MINERALS (ASX:FBM)
Follow-up 2,500m reverse circulation drilling program has kicked off across the Kangaroo Hills Lithium Project (KHLP) to test the strike potential of shallow, thick, high-grade lithium discovered in Phase-1.
Of particular focus for the company is the significant intersection in drill hole KHRC011 which returned 29m at 1.36% Li20 from 38m and remains open to the east, north, and south.
FBM says drilling here aims to confirm the strike orientation with reverse circulation (RC) as a first priority with drill holes averaging a depth of 120m.
AZURE MINERALS (ASX:AZS)
Drilling continues to intersect spodumene mineralisation over substantial widths in the vicinity of the AP0012 and AP0011 lithium prospects at Andover.
So far, AZS has drilled four diamond holes with a fifth hole currently in progress, intersecting significant widths of spodumene-bearing pegmatites.
At Stockhead we tell it like it is. While Nickelsearch and Azure Minerals are Stockhead clients, they did not sponsor this article.
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