Eye on Lithium: BHP says it won’t be jumping on the lithium bandwagon. Smart or stupid?
Mining
Mining
All your ASX lithium news for Monday, May 9.
Mammoth miner BHP (ASX:BHP) says it isn’t interested in this year’s most popular commodity (that’s lithium ICYMI) preferring instead to focus on nickel.
That is despite its main competitor Rio Tinto’s (ASX:RIO) excitement about the commodity. It’s spent US$825 million on a brine project in Argentina and still wants to find a way to plunge US$2.4 billion into the Jadar mine in Serbia despite its rejection by the government amid community protests this year.
BHP’s president of minerals in the Americas Ragnar Udd told Bloomberg that BHP sees lithium’s rise as a short-term thing.
“We recognise that at the moment there’s short-term supply-demand conversations,” Udd was quoted as saying. “How that plays out over the next 20 or 30 years, I don’t think it will last.”
Smart or stupid? Only time will tell.
#BHP vows to stay out of #lithium rush with shortages set to fade https://t.co/SnHt1k6uUT
“We recognize that at the moment there’s short-term S-D conversations,…” “How that plays out over the next 20 or 30 yrs, I don’t think it will last.”
BHP doesn’t seem to have a clue.— Juan Carlos Zuleta (@jczuleta) May 8, 2022
Electric carmaker Lucid (NASDAQ:LCID) is gearing up to raise the prices for most models from June off the back of rising raw materials costs.
After that date punters can expect to pay US$154,000 for Air Grand Touring, US$107,400 for Air Touring and US$87,400 for Air Pure.
And that’s just for the base models.
“The world has changed dramatically from the time we first announced Lucid Air pricing in September 2020, but I want to reassure our existing reservation holders that we will be honouring current pricing for them as well as for any new reservations made before the end of the month,” CEO and CTO Peter Rawlinson said.
Lucid isn’t the first company to bump up prices, in March Tesla upped its prices citing inflationary pressure in raw materials and logistics amid the crisis in Ukraine.
Rivian also announced an increase in prices by 20% before some strong customer backlash had the EV company backpedalling.
Lithium stocks missing from our list? Shoot a friendly mail to [email protected]
Code | Company | Price | % Month | % Week | % Today | Market Cap |
---|---|---|---|---|---|---|
EPM | Eclipse Metals | 0.029 | -24% | -9% | 7% | $51,870,413.15 |
WC8 | Wildcat Resources | 0.034 | -3% | -15% | 6% | $20,648,727.26 |
LIT | Lithium Australia | 0.0905 | -18% | -10% | 1% | $93,163,970.16 |
ADV | Ardiden Ltd | 0.012 | -14% | -20% | 0% | $32,020,024.27 |
AVZ | AVZ Minerals Ltd | 0.78 | -32% | -21% | 0% | $2,752,409,203.44 |
BMM | Balkanminingandmin | 0.305 | -18% | -9% | 0% | $9,988,750.00 |
SHH | Shree Minerals Ltd | 0.011 | -31% | -15% | 0% | $13,444,605.81 |
TSC | Twenty Seven Co. Ltd | 0.004 | 0% | 0% | 0% | $10,643,255.62 |
AZI | Altamin Limited | 0.096 | 3% | 28% | 0% | $37,604,808.19 |
AVW | Avira Resources Ltd | 0.005 | -29% | 0% | 0% | $10,593,950.00 |
RMX | Red Mount Min Ltd | 0.009 | 0% | -5% | 0% | $14,781,274.72 |
VKA | Viking Mines Ltd | 0.01 | -9% | -9% | 0% | $10,252,584.31 |
IPT | Impact Minerals | 0.011 | -19% | -8% | 0% | $24,095,077.45 |
WMC | Wiluna Mining Corp | 0.565 | -36% | -24% | 0% | $119,392,943.93 |
AUN | Aurumin | 0.175 | -5% | -17% | -1% | $19,387,127.23 |
NWM | Norwest Minerals | 0.05 | -19% | -9% | -2% | $9,210,976.74 |
PSC | Prospect Res Ltd | 0.945 | 7% | -3% | -2% | $417,691,077.68 |
GLN | Galan Lithium Ltd | 1.5575 | -27% | -10% | -2% | $485,497,842.39 |
JRL | Jindalee Resources | 3.71 | -8% | -15% | -2% | $218,040,070.80 |
RIO | Rio Tinto Limited | 106.64 | -10% | -5% | -2% | $40,559,083,541.64 |
VMC | Venus Metals Cor Ltd | 0.18 | -3% | -5% | -3% | $27,949,556.36 |
NVA | Nova Minerals Ltd | 0.61 | -36% | -20% | -3% | $113,527,439.55 |
TON | Triton Min Ltd | 0.03 | -12% | -6% | -3% | $39,022,309.49 |
A8G | Australasian Metals | 0.425 | -17% | -11% | -3% | $18,115,017.36 |
FG1 | Flynngold | 0.14 | -26% | -13% | -3% | $9,288,852.25 |
IGO | IGO Limited | 11.66 | -19% | -11% | -3% | $9,147,795,181.04 |
KAI | Kairos Minerals Ltd | 0.027 | -10% | -7% | -4% | $54,938,617.75 |
THR | Thor Mining PLC | 0.0125 | -26% | -17% | -4% | $13,180,587.30 |
CHR | Charger Metals | 0.62 | -23% | -10% | -4% | $21,014,767.58 |
RAS | Ragusa Minerals Ltd | 0.074 | -15% | -17% | -4% | $9,675,652.91 |
ZNC | Zenith Minerals Ltd | 0.365 | -12% | -15% | -4% | $130,683,578.90 |
CZL | Cons Zinc Ltd | 0.023 | -39% | -15% | -4% | $8,432,587.51 |
ALY | Alchemy Resource Ltd | 0.023 | 53% | -39% | -4% | $22,873,777.37 |
AM7 | Arcadia Minerals | 0.225 | -18% | -21% | -4% | $8,223,237.50 |
MIN | Mineral Resources. | 53.95 | -11% | -8% | -4% | $10,663,383,408.12 |
ASN | Anson Resources Ltd | 0.11 | -31% | -24% | -4% | $118,209,918.53 |
SRI | Sipa Resources Ltd | 0.042 | -18% | -14% | -5% | $9,021,091.33 |
RDT | Red Dirt Metals Ltd | 0.41 | -39% | -20% | -5% | $128,898,004.43 |
SCN | Scorpion Minerals | 0.081 | 21% | -8% | -5% | $28,205,651.32 |
MQR | Marquee Resource Ltd | 0.1 | -13% | -23% | -5% | $28,658,778.33 |
INF | Infinity Lithium | 0.1425 | -19% | -19% | -5% | $62,224,416.15 |
AX8 | Accelerate Resources | 0.037 | -43% | -26% | -5% | $10,274,897.06 |
IMI | Infinitymining | 0.18 | 3% | -10% | -5% | $10,925,000.00 |
MRR | Minrex Resources Ltd | 0.054 | -32% | -21% | -5% | $57,496,784.01 |
KZR | Kalamazoo Resources | 0.35 | 3% | -14% | -5% | $53,721,918.38 |
NMT | Neometals Ltd | 1.31 | -25% | -18% | -5% | $759,501,308.46 |
PLS | Pilbara Min Ltd | 2.58 | -23% | -9% | -5% | $8,126,757,346.89 |
AAJ | Aruma Resources Ltd | 0.085 | -48% | -19% | -6% | $14,126,535.27 |
GSM | Golden State Mining | 0.066 | -40% | -13% | -6% | $7,267,025.64 |
EMS | Eastern Metals | 0.16 | -26% | -24% | -6% | $6,052,000.00 |
MM1 | Midasmineralsltd | 0.32 | 52% | -7% | -6% | $18,508,962.50 |
AKE | Allkem Limited | 11.34 | -13% | -7% | -6% | $7,683,779,936.30 |
LRS | Latin Resources Ltd | 0.1125 | -48% | -17% | -6% | $229,537,695.84 |
FRS | Forrestaniaresources | 0.29 | -18% | -19% | -6% | $8,710,629.24 |
INR | Ioneer Ltd | 0.5275 | -28% | -22% | -7% | $1,181,301,672.30 |
EMH | European Metals Hldg | 1.05 | -23% | -9% | -7% | $158,374,085.63 |
ESS | Essential Metals Ltd | 0.49 | -9% | -26% | -7% | $129,051,686.40 |
MMC | Mitremining | 0.14 | -30% | -20% | -7% | $4,062,765.00 |
WR1 | Winsome Resources | 0.42 | -18% | -11% | -7% | $60,605,997.30 |
AOU | Auroch Minerals Ltd | 0.098 | -30% | -11% | -7% | $37,936,688.90 |
EUR | European Lithium Ltd | 0.082 | -41% | -15% | -7% | $121,696,399.97 |
RAG | Ragnar Metals Ltd | 0.04 | 18% | -18% | -7% | $16,025,450.23 |
CAI | Calidus Resources | 0.865 | -10% | -14% | -7% | $374,136,217.44 |
MNS | Magnis Energy Tech | 0.39 | -20% | -13% | -7% | $405,629,838.18 |
DRE | Dreadnought Resources Ltd | 0.039 | -13% | -11% | -7% | $119,224,709.14 |
ZEO | Zeotech Limited | 0.052 | -12% | -17% | -7% | $85,395,266.32 |
VUL | Vulcan Energy | 7.13 | -29% | -16% | -7% | $1,011,034,291.20 |
PGD | Peregrine Gold | 0.44 | -12% | -14% | -7% | $18,186,167.78 |
CXO | Core Lithium | 1.1475 | -17% | -18% | -7% | $2,128,915,237.48 |
KGD | Kula Gold Limited | 0.036 | -27% | -25% | -8% | $8,391,849.65 |
G88 | Golden Mile Res Ltd | 0.048 | -24% | -26% | -8% | $10,438,095.93 |
AZL | Arizona Lithium Ltd | 0.1475 | -22% | -16% | -8% | $355,890,694.24 |
SYA | Sayona Mining Ltd | 0.2625 | -23% | -18% | -8% | $2,046,295,700.78 |
LTR | Liontown Resources | 1.27 | -32% | -13% | -8% | $3,025,270,773.24 |
BYH | Bryah Resources Ltd | 0.046 | -10% | -18% | -8% | $11,310,358.75 |
SRZ | Stellar Resources | 0.023 | -15% | -21% | -8% | $20,932,565.65 |
AS2 | Askarimetalslimited | 0.515 | -21% | -24% | -8% | $23,024,838.48 |
PAM | Pan Asia Metals | 0.45 | -18% | -17% | -8% | $36,092,735.56 |
WCN | White Cliff Min Ltd | 0.022 | -39% | -21% | -8% | $15,686,480.69 |
EVR | Ev Resources Ltd | 0.044 | -29% | -20% | -8% | $44,447,235.41 |
XTC | Xantippe Res Ltd | 0.011 | -27% | -21% | -8% | $92,108,782.79 |
AGY | Argosy Minerals Ltd | 0.38 | -28% | -16% | -8% | $562,192,569.35 |
MTM | Mtmongerresources | 0.16 | -22% | -20% | -9% | $6,065,505.78 |
GL1 | Global Lithium Resources | 1.675 | -32% | -17% | -9% | $291,118,864.16 |
WML | Woomera Mining Ltd | 0.02 | -9% | -20% | -9% | $15,110,327.45 |
EFE | Eastern Resources | 0.04 | -31% | -13% | -9% | $43,755,211.76 |
PLL | Piedmont Lithium Inc | 0.84 | -8% | -11% | -9% | $488,002,990.00 |
QPM | Queensland Pacific | 0.145 | -29% | -26% | -9% | $246,898,100.96 |
1MC | Morella Corporation | 0.028 | -24% | -24% | -10% | $160,462,633.57 |
LPD | Lepidico Ltd | 0.028 | -33% | -18% | -10% | $197,774,988.42 |
STM | Sunstone Metals Ltd | 0.056 | -23% | -16% | -10% | $157,357,763.40 |
MMG | Monger Gold Ltd | 0.325 | 25% | 16% | -10% | $9,000,000.00 |
MLS | Metals Australia | 0.09 | -31% | -36% | -10% | $41,440,606.80 |
TKL | Traka Resources | 0.009 | -25% | -10% | -10% | $6,887,745.61 |
DTM | Dart Mining NL | 0.063 | -24% | -14% | -10% | $8,714,365.10 |
FFX | Firefinch Ltd | 0.94 | -15% | -16% | -10% | $1,234,399,165.95 |
TMB | Tambourahmetals | 0.22 | -21% | -12% | -10% | $10,092,186.51 |
MXR | Maximus Resources | 0.07 | -7% | -29% | -10% | $24,796,649.90 |
RLC | Reedy Lagoon Corp. | 0.026 | -24% | -10% | -10% | $15,902,359.67 |
GT1 | Greentechnology | 0.855 | -6% | -24% | -10% | $130,101,560.00 |
LIS | Lisenergylimited | 0.535 | -32% | -16% | -11% | $99,548,512.20 |
LKE | Lake Resources | 1.47 | -30% | -25% | -11% | $2,166,094,728.60 |
LRD | Lordresourceslimited | 0.285 | 43% | -25% | -11% | $9,851,078.72 |
AML | Aeon Metals Ltd. | 0.04 | -46% | -11% | -11% | $38,961,399.96 |
ARN | Aldoro Resources | 0.24 | -19% | -13% | -11% | $26,787,669.03 |
TEM | Tempest Minerals | 0.0675 | -46% | -33% | -11% | $38,342,570.68 |
LRV | Larvotto Resources | 0.28 | 19% | -36% | -13% | $13,186,400.00 |
ENT | Enterprise Metals | 0.014 | -30% | -22% | -13% | $10,314,349.68 |
LSR | Lodestar Minerals | 0.0105 | -48% | -25% | -13% | $20,861,248.18 |
M2R | Miramar | 0.13 | -26% | -28% | -13% | $7,472,253.00 |
LPI | Lithium Pwr Int Ltd | 0.62 | -30% | -21% | -14% | $251,384,290.56 |
CRR | Critical Resources | 0.078 | -12% | -22% | -14% | $135,372,777.54 |
QXR | Qx Resources Limited | 0.048 | -45% | -31% | -14% | $47,424,289.98 |
BNR | Bulletin Res Ltd | 0.145 | -44% | -28% | -15% | $49,315,338.59 |
RGL | Riversgold | 0.05 | -47% | -34% | -15% | $33,715,319.55 |
LEL | Lithenergy | 1.34 | 33% | -8% | -16% | $72,000,000.00 |
PNN | PepinNini Minerals | 0.56 | -10% | -35% | -17% | $41,430,249.23 |
AOA | Ausmon Resorces | 0.008 | -11% | -27% | -20% | $8,572,893.43 |
Oof. Only 3 stocks were in the green today, with 11 flatlining and a whopping 104 in the red.
The explorer says that a review of geological literature and recent exploration work at its Bitterwasser project has indicated the potential presence of a large-scale lithium-in-clay and lithium-in-brines minerals-system.
The company says that similar closed basins elsewhere in the world are known to contain analogous geological systems similar to the Bitterwasser System – like Clayton Valley in Nevada which is host to Albemarle’s Silver Peak project and Marquee Resources’ (ASX:MQR) Clayton Valley project.
Since exploration commenced over the Bitterwasser Basin, Arcadia has not tested any targets to a depth greater than 12m below surface and limited its work over the Eden Pan.
The company’s future work program will include stratigraphic drilling to construct a geological section of the basin, water sampling and targeted drilling of potential trap sites of lithium in brine aquifers and additional lithium clay layers.
The company has expanded its lithium footprint in Quebec, again, executing an option agreement to acquire 259 more claims totalling 149km2.
This comes after WR1 expanded its claims in Decelles region by nearly 40% in January.
“There has been a considerable amount of recent lithium focused activity in the surrounding region, with several public and private companies making successful discoveries,” MD Chris Evans said.
“By acquiring this project, we significantly increase the company’s prospective lithium landholding in Quebec and continue towards achieving our vision of supplying high grade lithium products into the North American battery supply chain.”
The company has announced it plans to complete Transient Electromagnetic geophysics (TEM) surveys over its Solaroz Lithium Brine Project in Argentina to identify the best location and greatest widths of potential lithium-hosting conductive brines for drilling.
The TEM surveys are expected to begin in the second half of May.
The company is also in the process of finalising arrangements with drilling contractors for a ~5,000 metre drilling programme to commence after the TEM surveys are completed.
“The current exploration program which seeks to validate the Exploration Target for Solaroz will bring to focus the highly prospective nature of the project and its world class potential to host a significant lithium brine deposit,” executive chairman William Johnson said.