Eye on Lithium: Battery makers tempted by alternative battery chemistries as lithium-ion costs rise

Pic: Getty

LRS hits more thick, shallow dipping spodumene bearing pegmatites at Brazillian project
Accelerate kicks off sampling at Pilbara lithium projects
AZL signs MoU to buy electric trucks from Nasdaq-listed battery EV producer Nikola

All your ASX lithium news for Wednesday, March 16.

Lithium carbonate prices are on the rise in March – surprise, surprise — up 9.9% for battery grade lithium carbonate at $76,700.

That’s up from $63,900 last month.

Increased costs have Chinese battery makers looking around for alternatives.

Benchmark Minerals Intelligence says it has received reports from contacts of increasing enquiries for Chinese cell manufacturers to focus on alternative battery chemistries, such as sodium ion, in a bid to reduce exposure to high lithium prices.

For lithium investors there’s nothing to worry about, yet.

“Benchmark expects widespread deployment of these new technologies to remain some years away, sustaining strong demand for lithium chemicals in the mid-term,” the forecast said.

Interestingly, Indian conglomerate Reliance has been picking up alternative battery tech manufacturers, recently acquiring UK-based sodium-ion developer Faradion.

Just this week, the Group, led by billionaire Mukesh Ambani, acquired Lithium Werks – a cobalt free battery technology and manufacturing company — for $61 million.

“The combination of Lithium Werks with Reliance’s recently announced acquisition of Faradion Limited, a global leader in sodium-ion cell chemistry, further strengthens Reliance’s technology portfolio and provides it access to one of the world’s leading portfolio of LFP patents and a management team with vast experience of innovation in cell chemistry, custom modules, packing, and building large scale battery manufacturing facility,” Group subsidiary Reliance New Energy said in a statement.

Here’s how ASX lithium stocks are tracking today:

Code	Company	Price	% Month	% Week	% Today	Market Cap
AVW	Avira Resources Ltd	0.007	17%	40%	40%	$10,593,950.00
LRS	Latin Resources Ltd	0.051	50%	38%	24%	$60,638,578.56
AX8	Accelerate Resources	0.051	21%	11%	13%	$11,405,650.46
RDT	Red Dirt Metals Ltd	0.495	-10%	3%	13%	$131,600,465.92
LKE	Lake Resources	1.335	57%	33%	11%	$1,515,846,400.80
WR1	Winsome Resources	0.385	1%	12%	8%	$47,733,297.87
ADV	Ardiden Ltd	0.013	-13%	0%	8%	$31,927,708.27
EUR	European Lithium Ltd	0.105	0%	15%	8%	$111,732,786.70
NWM	Norwest Minerals	0.068	24%	26%	8%	$11,378,265.38
AOA	Ausmon Resorces	0.0075	7%	7%	7%	$6,001,025.40
LPD	Lepidico Ltd	0.0315	-5%	5%	5%	$187,419,389.49
LSR	Lodestar Minerals	0.0105	17%	-5%	5%	$17,384,373.48
PSC	Prospect Res Ltd	0.87	7%	3%	4%	$360,130,220.30
1MC	Morella Corporation	0.026	13%	24%	4%	$129,405,349.65
RLC	Reedy Lagoon Corp.	0.026	-7%	0%	4%	$13,708,930.75
WCN	White Cliff Min Ltd	0.027	-10%	8%	4%	$16,916,286.37
PNN	PepinNini Minerals	0.405	1%	4%	4%	$23,875,142.46
QPM	Queensland Pacific	0.14	-15%	0%	4%	$208,320,272.69
TON	Triton Min Ltd	0.028	-13%	0%	4%	$33,555,172.78
ENT	Enterprise Metals	0.014	-7%	0%	4%	$8,335,515.17
SRZ	Stellar Resources	0.028	-13%	4%	4%	$22,607,170.90
INF	Infinity Lithium	0.15	-6%	11%	3%	$60,150,268.95
RAS	Ragusa Minerals Ltd	0.065	3%	20%	3%	$7,916,443.29
AGY	Argosy Minerals Ltd	0.345	3%	10%	3%	$443,067,356.21
STM	Sunstone Metals Ltd	0.072	-14%	-4%	3%	$156,766,468.53
RGL	Riversgold	0.036	71%	38%	3%	$14,141,476.86
ASN	Anson Resources Ltd	0.1075	-10%	-7%	2%	$107,246,924.40
GLN	Galan Lithium Ltd	1.325	-4%	2%	2%	$385,809,256.77
AM7	Arcadia Minerals	0.23	0%	0%	2%	$7,873,312.50
BMM	Balkanminingandmin	0.245	-25%	-2%	2%	$7,860,000.00
KAI	Kairos Minerals Ltd	0.0245	-6%	11%	2%	$47,090,243.78
QXR	Qx Resources Limited	0.054	50%	23%	2%	$44,035,703.01
AZL	Arizona Lithium Ltd	0.1375	6%	10%	2%	$269,698,471.43
CAI	Calidus Resources	0.855	24%	4%	2%	$337,929,486.72
PLL	Piedmont Lithium Inc	0.87	27%	8%	2%	$452,708,734.50
LPI	Lithium Pwr Int Ltd	0.59	-5%	3%	2%	$202,286,511.84
KZR	Kalamazoo Resources	0.3	-14%	9%	2%	$42,832,340.33
IGO	IGO Limited	11.895	-1%	-7%	2%	$8,860,033,412.10
ARN	Aldoro Resources	0.325	-13%	-8%	2%	$28,716,348.48
CXO	Core Lithium	1.015	35%	15%	2%	$1,705,542,886.00
AS2	Askarimetalslimited	0.425	25%	15%	1%	$16,014,610.50
LEL	Lithenergy	0.855	-11%	1%	1%	$38,025,000.00
NMT	Neometals Ltd	1.525	24%	13%	1%	$828,048,357.96
PLS	Pilbara Min Ltd	2.595	-13%	-3%	1%	$7,650,463,876.01
GL1	Globallith	1.585	20%	9%	1%	$213,709,301.18
FFX	Firefinch Ltd	0.8025	23%	15%	1%	$936,618,279.00
VUL	Vulcan Energy	8.9	0%	8%	1%	$1,162,426,144.70
INR	Ioneer Ltd	0.4575	-20%	-9%	1%	$932,999,521.55
AKE	Allkem Limited	9.51	7%	3%	0%	$6,056,493,067.00
AML	Aeon Metals Ltd.	0.048	4%	0%	0%	$41,558,826.62
EMH	European Metals Hldg	1.085	-14%	-3%	0%	$152,743,007.03
ESS	Essential Metals Ltd	0.34	-13%	3%	0%	$83,047,970.24
GXY	Galaxy Resources	0	-100%	-100%	0%	$2,715,139,305.12
LIT	Lithium Australia NL	0.105	-9%	0%	0%	$108,419,912.58
TKL	Traka Resources	0.01	-33%	0%	0%	$6,887,745.61
CHR	Charger Metals	0.61	-14%	0%	0%	$19,864,264.48
AAJ	Aruma Resources Ltd	0.082	-25%	1%	0%	$12,870,843.25
BYH	Bryah Resources Ltd	0.046	-16%	-2%	0%	$10,405,530.05
DTM	Dart Mining NL	0.08	-7%	-1%	0%	$9,959,274.40
EMS	Eastern Metals	0.185	-18%	0%	0%	$6,586,000.00
FRS	Forrestaniaresources	0.33	-7%	-8%	0%	$9,272,605.32
GSM	Golden State Mining	0.076	-17%	0%	0%	$6,314,686.86
MMC	Mitremining	0.175	-8%	-3%	0%	$4,739,892.50
RAG	Ragnar Metals Ltd	0.03	-9%	3%	0%	$11,180,546.67
TMB	Tambourahmetals	0.205	-16%	-2%	0%	$8,444,482.59
TEM	Tempest Minerals	0.02	-9%	-13%	0%	$7,958,017.96
WML	Woomera Mining Ltd	0.017	-6%	-6%	0%	$11,591,162.12
KGD	Kula Gold Limited	0.048	17%	2%	0%	$10,328,430.34
NVA	Nova Minerals Ltd	0.595	-31%	5%	0%	$107,220,359.58
ESS	Essential Metals Ltd	0.34	-13%	3%	0%	$83,047,970.24
RMX	Red Mount Min Ltd	0.0085	-15%	6%	0%	$13,960,092.79
A8G	Australasian Metals	0.45	-14%	-6%	0%	$18,076,722.30
EFE	Eastern Resources	0.046	-15%	0%	0%	$45,456,671.28
VKA	Viking Mines Ltd	0.011	-21%	-8%	0%	$11,277,842.74
MIN	Mineral Resources.	44.49	-8%	-3%	0%	$8,409,499,895.83
LTR	Liontown Resources	1.475	6%	1%	-1%	$3,255,454,419.03
MQR	Marquee Resource Ltd	0.093	-23%	-2%	-1%	$20,341,844.59
AVZ	AVZ Minerals Ltd	0.815	12%	1%	-1%	$2,847,952,041.00
GT1	Greentechnology	0.7	-10%	-7%	-1%	$75,260,000.00
SYA	Sayona Mining Ltd	0.1625	41%	25%	-2%	$1,171,403,674.65
ZNC	Zenith Minerals Ltd	0.325	-7%	-3%	-2%	$113,488,371.15
AZI	Altamin Limited	0.064	-2%	0%	-2%	$25,276,676.88
MRR	Minrex Resources Ltd	0.058	-3%	5%	-2%	$52,071,491.94
SRI	Sipa Resources Ltd	0.051	4%	-6%	-2%	$10,661,289.76
PAM	Pan Asia Metals	0.495	-9%	0%	-2%	$37,197,615.22
PGD	Peregrine Gold	0.465	-31%	-7%	-2%	$18,139,063.93
SHH	Shree Minerals Ltd	0.0195	8%	30%	-3%	$21,264,737.84
VMC	Venus Metals Cor Ltd	0.18	-5%	-3%	-3%	$27,949,556.36
FG1	Flynngold	0.15	-6%	-6%	-3%	$9,929,462.75
MLS	Metals Australia	0.083	108%	15%	-5%	$22,787,744.27
JRL	Jindalee Resources	2.64	-8%	-6%	-5%	$150,950,065.14
MTM	Mtmongerresources	0.15	-12%	-3%	-6%	$4,993,605.28
BNR	Bulletin Res Ltd	0.14	40%	-3%	-7%	$42,833,986.50
CRR	Critical Resources	0.066	-34%	-8%	-7%	$104,894,441.64
LRV	Larvottoresources	0.19	-24%	6%	-7%	$8,391,162.50
SCN	Scorpion Minerals	0.06	-15%	-15%	-8%	$17,517,902.48
IPT	Impact Minerals	0.011	-15%	-31%	-8%	$24,285,539.03
IMI	Infinitymining	0.16	-18%	-11%	-9%	$10,062,500.00
TSC	Twenty Seven Co. Ltd	0.0035	-13%	-13%	-13%	$10,643,255.62

Much better today. A total of 48 stocks were in the green today, with 27 flatlining and 24 in the red.

Who’s got news out today?

Latin Resources (ASX:LRS)

The company keeps hitting thick, shallow dipping spodumene (lithium ore) bearing pegmatites at the Salinas project in Brazil.

All six diamond holes drilled to date have hit a series of stacked spod peggies along a 600m stretch, LRS says.

Logging has confirmed that the individual pegmatites range in true thickness to a maximum of 21.1m, with a cumulative intersection of over 36m in one hole.

“The growing thickness along with the rich spodumene pegmatites is further indication that Latin may have a very compelling lithium project on its books,” LRS MD Chris Gale says.

“We look forward to receiving the assay results from these spodumene pegmatites in the next few weeks.

“The company’s market cap is approximately $60m, and much lower than our lithium peers, which we expect offers strong potential for re-rating as positive assay results confirm the strength of the Salinas project.”

The now-$72m market cap stock is up 60% year-to-date. It had $2.2m in the bank at the end of December.

Accelerate Resources (ASX:AX8)

The former gold explorer has kicked off helicopter assisted mapping and sampling at its 369km2 Pilbara lithium and manganese projects.

The project is around 10kms from Global Lithium Resources’ (ASX:GL1) Archer deposit which hosts 10.5Mtat 1.0% lithium and the Moolyella project held by Lithium 1 Pty Ltd.

Historical data has been collated, and while there has been significant historical exploration for diamonds, there was neglible recorded work focusing on lithium or lithium-related pathfinder geochemistry.

The field program will review previously identified geophysical anomalies from historical diamond exploration and collect samples to verify the lithium pegmatite model.

Arizona Lithium (ASX:AZL)

The company wants to make any future mining operations at the Big Sandy lithium project emissions free, after signing an MoU to purchase electric trucks from Nasdaq-listed battery EV producer Nikola.

Big Sandy is a shallow, flat sedimentary lithium resource with decent infrastructure that already sets it up with a low environmental footprint the company says.

Material movement is one of the largest emissions problems for existing mines, and under the deal AZL could move as much as 2Mt of ore a year with an estimated 50 Nikola Tre BEVs.

That depends on a few things, including the eventual scale of the project and volume of the truck. AZL could take as many as 100 Nikola Tres as per the MoU once it’s in production.

The unique partnership will start small, with one Nikola Tre to be placed at site during the research facility phase of the Big Sandy project.

It is anticipated that arrangement will expand once the project is fully proven and the processing facility phase begins.

Arizona is currently progressing a scoping study for the project, which boasts an indicated and inferred JORC resource of 32.5 million tonnes grading 1,850 parts per million (ppm) lithium for 320,800 tonnes Li2CO3.