• BMW invests A$1.2 billion to expand its EV plant in Mexico, targets  ‘Neue Klasse’ production from 2027
  • Galan moves to full ownership of its Candelas lithium project in Argentina
  • Latin Resources expands Salinas lithium project footprint by 367%

All your lithium news, Wednesday February 8.

 

German automaker BMW is investing 800 million euros (A$1.2 billion) in the central Mexican state of San Luis Potosi to produce ‘high-voltage batteries’ and ‘Neue Klasse’ electric vehicles.

According to the group, the first Neue Klasse cars will come off the production line at its plant in Debrecen, Hungary, starting in 2025, followed by the main plant in Munich.

“We will achieve additional volumes by integrating the Neue Klasse at the plant in San Luis Potosí from 2027 onwards,” BMW said.

A large part of the investment costs, 500 million euros, will go towards constructing an 85,000-square-metre plant high-voltage battery assembly plant.

 

 

The BMW Group plant in San Luis Potosí, which opened in 2019, was designed to be flexible.

This means it just takes a few adjustments to body construction and assembly to expand production to include electric models.

The company says more than 500 new employees will manufacture the batteries, which will be integrated directly into the Neue Klasse vehicle structure.

Meanwhile, China’s BYD is reportedly exploring the option of setting up its own electric vehicle factory in Europe.

In an interview with Bloomberg from BYD’s North American headquarters in Pasadena, California,  BYD executive vice president Stella Li said the company is more interested in building its own plants rather than acquiring other companies’ factories.

“We’re doing feasibility studies to see our plans for the future,” Li said.

As well meeting growing demand, opening factories in Europe means BYD will be able to avoid the high tariffs that have been imposed on Chinese imports by the European Union – making its vehicles competitively priced and help the company gain market share.

 

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE % TODAY MARKET CAP
ENT Enterprise Metals 0.01 11% $6,345,726
GLN Galan Lithium Ltd 1.24 11% $342,166,054
AGY Argosy Minerals Ltd 0.775 9% $997,129,324
LRS Latin Resources Ltd 0.12 9% $242,182,041
EFE Eastern Resources 0.0185 9% $21,113,090
MNS Magnis Energy Tech 0.435 9% $388,132,593
LNR Lanthanein Resources 0.026 8% $23,557,814
KTA Krakatoa Resources 0.043 8% $13,788,397
MLS Metals Australia 0.058 7% $32,779,954
JRL Jindalee Resources 2.43 7% $130,250,253
AM7 Arcadia Minerals 0.245 7% $10,740,515
LLL Leolithiumlimited 0.6325 6% $587,060,863
ALY Alchemy Resource Ltd 0.018 6% $20,027,296
SGQ St George Min Ltd 0.08 5% $63,641,302
QPM Queensland Pacific 0.105 5% $174,634,792
LTR Liontown Resources 1.5325 5% $3,218,235,385
RAS Ragusa Minerals Ltd 0.115 5% $15,685,866
BYH Bryah Resources Ltd 0.024 4% $6,468,830
SYA Sayona Mining Ltd 0.245 4% $2,042,061,727
LKE Lake Resources 0.7725 4% $1,057,858,804
MMC Mitremining 0.305 3% $10,615,605
LPD Lepidico Ltd 0.0155 3% $114,566,576
NWM Norwest Minerals 0.063 3% $13,548,551
PLS Pilbara Min Ltd 4.91 3% $14,270,334,772
MM1 Midasmineralsltd 0.165 3% $9,141,082
LRD Lordresourceslimited 0.175 3% $5,659,661
AKE Allkem Limited 13.3 3% $8,251,295,633
MTM Mtmongerresources 0.079 3% $4,390,865
MIN Mineral Resources. 91.33 3% $16,914,522,007
LPI Lithium Pwr Int Ltd 0.425 2% $261,075,487
GT1 Greentechnology 0.86 2% $160,220,250
DRE Dreadnought Resources Ltd 0.1075 2% $324,421,463
CXO Core Lithium 1.08 2% $1,951,940,458
ASN Anson Resources Ltd 0.235 2% $270,998,632
QXR Qx Resources Limited 0.048 2% $42,152,529
IGO IGO Limited 14.7 2% $10,942,519,898
VUL Vulcan Energy 7.305 1% $1,032,734,167
GL1 Globallith 2.11 1% $443,400,372
RIO Rio Tinto Limited 124.64 1% $45,622,472,701
LIS Lisenergylimited 0.37 1% $60,558,678
ZEO Zeotech Limited 0.04 1% $64,807,874
IMI Infinitymining 0.23 1% $17,398,818
INR Ioneer Ltd 0.4175 1% $870,810,381
ADV Ardiden Ltd 0.007 0% $18,818,347
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
LIT Lithium Australia 0.046 0% $56,174,817
RLC Reedy Lagoon Corp. 0.009 0% $5,100,476
TKL Traka Resources 0.008 0% $5,782,196
ARN Aldoro Resources 0.23 0% $25,969,833
PAM Pan Asia Metals 0.365 0% $53,602,290
AX8 Accelerate Resources 0.027 0% $10,195,247
DTM Dart Mining NL 0.049 0% $7,625,407
EMS Eastern Metals 0.08 0% $3,125,153
FRS Forrestaniaresources 0.145 0% $8,829,239
GSM Golden State Mining 0.044 0% $5,148,625
LRV Larvottoresources 0.185 0% $12,442,124
RAG Ragnar Metals Ltd 0.016 0% $6,066,958
CTN Catalina Resources 0.011 0% $13,623,356
TMB Tambourahmetals 0.105 0% $4,325,223
WML Woomera Mining Ltd 0.017 0% $16,254,741
AZL Arizona Lithium Ltd 0.071 0% $173,417,829
KZR Kalamazoo Resources 0.195 0% $29,019,778
SCN Scorpion Minerals 0.08 0% $27,656,495
AZI Altamin Limited 0.075 0% $29,378,756
KAI Kairos Minerals Ltd 0.021 0% $41,245,963
STM Sunstone Metals Ltd 0.031 0% $81,233,839
AVW Avira Resources Ltd 0.003 0% $6,401,370
BNR Bulletin Res Ltd 0.115 0% $33,762,977
RMX Red Mount Min Ltd 0.006 0% $11,930,093
CAI Calidus Resources 0.255 0% $112,035,659
MRR Minrex Resources Ltd 0.037 0% $40,140,098
RDT Red Dirt Metals Ltd 0.48 0% $213,555,595
A8G Australasian Metals 0.185 0% $7,616,541
SRZ Stellar Resources 0.012 0% $12,055,571
LSR Lodestar Minerals 0.005 0% $8,692,187
VKA Viking Mines Ltd 0.013 0% $13,328,360
SRI Sipa Resources Ltd 0.03 0% $6,844,744
VMC Venus Metals Cor Ltd 0.15 0% $26,711,802
RGL Riversgold 0.027 0% $25,527,628
G88 Golden Mile Res Ltd 0.022 0% $4,500,975
WC8 Wildcat Resources 0.03 0% $19,860,682
THR Thor Energy PLC 0.006 0% $8,853,677
CZL Cons Zinc Ltd 0.017 0% $8,200,083
M2R Miramar 0.079 0% $5,583,858
AOU Auroch Minerals Ltd 0.063 0% $26,954,243
XTC Xantippe Res Ltd 0.006 0% $62,070,208
WMC Wiluna Mining Corp 0.205 0% $74,238,031
GW1 Greenwing Resources 0.3 0% $44,477,660
TYX Tyranna Res Ltd 0.025 0% $60,135,633
DAF Discovery Alaska Ltd 0.028 0% $6,278,572
IR1 Irismetals 1.16 0% $74,506,800
DAL Dalaroometalsltd 0.092 0% $2,748,500
TUL Tulla Resources 0.35 0% $74,496,958
OCN Oceanalithiumlimited 0.36 0% $13,109,040
CMD Cassius Mining Ltd 0.034 0% $13,888,759
VSR Voltaic Strategic 0.022 0% $6,760,605
WES Wesfarmers Limited 49.68 0% $56,574,882,283
ESS Essential Metals Ltd 0.4975 -1% $133,783,347
LLI Loyal Lithium Ltd 0.4575 -1% $24,145,400
PLL Piedmont Lithium Inc 0.9825 -1% $419,225,400
AS2 Askarimetalslimited 0.635 -1% $31,606,739
CY5 Cygnus Gold Limited 0.485 -1% $90,098,364
EMC Everest Metals Corp 0.091 -1% $9,791,846
WR1 Winsome Resources 2.085 -1% $296,860,164
CHR Charger Metals 0.41 -1% $18,141,463
AAJ Aruma Resources Ltd 0.073 -1% $11,615,151
CRR Critical Resources 0.055 -2% $89,058,627
PNN Power Minerals Ltd 0.5 -2% $36,845,380
LLO Lion One Metals Ltd 0.94 -2% $11,318,844
FG1 Flynngold 0.093 -2% $7,440,736
ZNC Zenith Minerals Ltd 0.225 -2% $80,892,390
TON Triton Min Ltd 0.042 -2% $59,459,720
MXR Maximus Resources 0.04 -2% $13,081,286
PAT Patriot Lithium 0.38 -3% $23,648,626
EMH European Metals Hldg 0.67 -3% $86,938,214
NVA Nova Minerals Ltd 0.64 -3% $138,635,726
MQR Marquee Resource Ltd 0.032 -3% $10,797,848
BMM Balkanminingandmin 0.455 -3% $21,042,847
A11 Atlantic Lithium 0.6775 -3% $424,019,162
FTL Firetail Resources 0.14 -3% $9,425,000
AML Aeon Metals Ltd. 0.027 -4% $30,699,217
INF Infinity Lithium 0.135 -4% $64,762,893
EUR European Lithium Ltd 0.077 -4% $115,939,134
TEM Tempest Minerals 0.025 -4% $13,123,921
KGD Kula Gold Limited 0.024 -4% $9,030,298
TKM Trek Metals Ltd 0.071 -4% $26,931,936
EPM Eclipse Metals 0.021 -5% $44,617,315
PGD Peregrine Gold 0.5 -5% $20,350,517
NMT Neometals Ltd 0.8 -5% $467,066,294
LEL Lithenergy 0.85 -6% $54,135,000
PSC Prospect Res Ltd 0.165 -6% $80,895,406
AUN Aurumin 0.06 -6% $11,376,825
1MC Morella Corporation 0.013 -7% $85,380,126
WCN White Cliff Min Ltd 0.011 -8% $9,408,653
AOA Ausmon Resorces 0.0055 -8% $5,293,736
IPT Impact Minerals 0.01 -9% $27,295,076
EVR Ev Resources Ltd 0.0205 -11% $21,366,634
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A total of 43 companies finished in the green, 54 fell flat, and another 40 tumbled into the red zone.

 

Who’s got news out?

GALAN LITHIUM (ASX:GLN)

Galan has moved to full ownership of its Candelas lithium project in Argentina and plans to revisit project studies once it wraps up the Hombre Muerto West Definitive Feasibility Study.

Candelas features a PEA which estimates un-leveraged pre-tax net present value and internal rate of return – both measures of a project’s profitability – of US$1,225m and 27.9% respectively as well as a resource sufficient to fuel production of 14,000 tonnes per annum of battery grade lithium carbonate for 25 years.

It is also worth noting that the PEA – roughly equivalent to a JORC Scoping Study – dates back to November 2021, meaning that some of its assumptions, including the long-term average real lithium price assumption of US$18,594/t now looks just a tad conservative given the February lithium carbonate price of about US$69,560/t.

 

LATIN RESOURCES (ASX:LRS)

LRS has applied for 17 new exploration applications covering more than 29,940 hectares with the Brazilian National Mining Agency over areas that contain favourable basement lithologies to host lithium bearing pegmatites similar to those found at its Colina lithium deposit.

This will take its land holding up to 38,000 hectares, a not-so-insignificant increase of 367%.

The company has also signed an option agreement over additional mining rights directly adjacent to the south of the Colina lithium deposit, which is right at the heart of why it is so aggressively consolidating its position in the Bananal Valley region.

 

LORD RESOURCES (ASX:LRD)

LRD’s Horse Rocks lithium project is situated between Essential Metals (ASX:ESS)  and Mineral Resources (ASX:MIN).

The company’s managing director Barnaby Egerton-Warburton says the project continues to provide all the right signals with latest infill auger sampling returning a peak assay of 0.15% Li2O.

Another high assay of 2.54% Li2O was also returned from a rock sample program.

“This is an exciting next step in the exploration of the project,” Egerton-Warburton says.

“These highly encouraging results will allow us to refine our drilling program, which is planned to comprise up to 6,000 metres of RC and will commence shortly after the completion of the heritage survey which is scheduled for next week”.

 

BURLEY MINERALS (ASX:BUR)

Burley has completed the acquisition of the Chubb lithium project in Quebec, Canada, as well as the Mt James and Dragon lithium projects in the Gascoyne region of Western Australia.

“We were delighted to have concluded the acquisition of these three strategic lithium projects, with the immediate focus being on the exploration and drilling program at the Chubb lithium project,” BUR managing director Wayne Richards says.

 

XANTIPPE RESOURCES (ASX:XTC)

Drilling for lithium targets on exploration lease, E77/2609, has intersected thick intervals of pegmatite along with mineralogy indicative of fractionation that is conducive to lithium mineralisation.

The Blanche pegmatite, now intersected in two RC drill holes, occupies a distinct magnetic low within the host stratigraphy and is interpreted to represent the northern extension of the system intersected by Black Dragon / Zenith to the south.

Several pegmatites in the Western Australian Goldfields sustain profitable mining operations, with Blanche being within close proximity to some of Australia’s most significant deposits.