Pic: Jens Tandler / EyeEm, Via getty Images
Mining
All your ASX lithium news for Wednesday, May 25.
Bolivia’s government is planning to sell rights to mine for lithium in the country this month, in a move that officials hope will bring economic growth.
The country hosts 21 million tonnes out of the 89 million tonnes that make up the world’s known lithium resources, according to the US Geological Survey, although none of it is listed as commercially viable.
Bolivia’s long-term goal is to make lithium-ion batteries locally by 2025, an ambition even neighbouring Chile, the world’s No. 2 lithium producer, has not achieved after decades of production.
Bolivia is going to announce which companies they will choose to do joint venture/profit sharing on their domestic #lithium projects soon. Totally 8 companies filed for applications, 4 are from China, 2 from US (both companies supported by Bill Gates), and Russia’s Uranium One
— Samson Li (@SamsonLi7) May 24, 2022
But there are a few hurdles, namely technological challenges, simmering citizen resistance, a non-existent legal framework for lithium mining, and looming infighting within Bolivia’s ruling socialist party over taxes and royalties.
“I see an exaggerated enthusiasm. It’s not grounded in reality,” said Juan Carlos Montenegro, a former top Bolivian official in charge of lithium extraction under the administration of ex-President Evo Morales, told Reuters.
Not to mention that traditional evaporation ponds have failed in country due to naturally high concentrations of magnesium, so President Luis Arce has only solicited bids from firms using Direct Lithium Extraction (DLE) technology.
DLE tech promises to produce cheaper, higher quality, and more environmentally friendly lithium than incumbent processes. Its why companies like Lake Resources (ASX:LKE), Vulcan (ASX:VUL) and Anson Resources (ASX:ASN) have it at the heart of their respective projects.
“The brine [is pumped] into a tank for a couple of hours, where these little ion exchange beads latch onto all the lithium,” Lake’s Steve Promnitz says.
“Then you release that water – without lithium — back into the aquifer.
“We aren’t heating or cooling the water, it operates at ambient temperature, so we aren’t doing anything particularly tricky. All we do is replace the evaporation ponds with these tanks, or modules.”
Bolivia expects to announce later this month one or more partnerships with foreign firms, with eight competitors from China, Russia, Argentina and the United States bidding – none of which have exploited lithium at a commercial scale before.
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| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| TSC | Twenty Seven Co. Ltd | 0.0035 | -13% | -13% | 17% | $7,982,441.72 |
| SHH | Shree Minerals Ltd | 0.01 | -33% | 0% | 11% | $11,000,132.03 |
| AOA | Ausmon Resorces | 0.01 | 0% | 25% | 11% | $7,715,604.09 |
| WML | Woomera Mining Ltd | 0.021 | -32% | 5% | 11% | $13,049,828.25 |
| LRV | Larvottoresources | 0.32 | -37% | 14% | 10% | $11,950,175.00 |
| IPT | Impact Minerals | 0.011 | -24% | 10% | 10% | $21,904,615.86 |
| DAF | Discovery Alaska Ltd | 0.073 | 83% | 87% | 9% | $14,956,724.77 |
| KAI | Kairos Minerals Ltd | 0.029 | -3% | 4% | 7% | $52,976,524.26 |
| IMI | Infinitymining | 0.165 | -25% | -6% | 6% | $8,912,500.00 |
| WC8 | Wildcat Resources | 0.034 | -3% | -6% | 6% | $20,648,727.26 |
| LPD | Lepidico Ltd | 0.0285 | -27% | 6% | 6% | $173,066,921.70 |
| STM | Sunstone Metals Ltd | 0.058 | -18% | 0% | 5% | $141,594,552.99 |
| MMG | Monger Gold Ltd | 0.325 | 11% | 16% | 5% | $7,750,000.00 |
| QPM | Queensland Pacific | 0.1675 | -4% | 5% | 5% | $250,178,100.96 |
| MM1 | Midasmineralsltd | 0.335 | -4% | 26% | 5% | $17,420,200.00 |
| BYH | Bryah Resources Ltd | 0.045 | -21% | -4% | 5% | $9,726,908.53 |
| RAS | Ragusa Minerals Ltd | 0.115 | 34% | 53% | 5% | $13,822,361.30 |
| ASN | Anson Resources Ltd | 0.125 | -4% | 4% | 4% | $123,349,480.20 |
| ZNC | Zenith Minerals Ltd | 0.385 | -13% | 7% | 4% | $127,244,537.35 |
| KTA | Krakatoa Resources | 0.078 | -40% | -5% | 4% | $25,853,243.78 |
| AGY | Argosy Minerals Ltd | 0.415 | -14% | 6% | 4% | $541,902,728.80 |
| CAI | Calidus Resources | 0.855 | -16% | -4% | 4% | $331,895,031.60 |
| RDT | Red Dirt Metals Ltd | 0.58 | 1% | 27% | 4% | $168,847,168.56 |
| GT1 | Greentechnology | 0.9 | -18% | 9% | 3% | $119,203,000.00 |
| AML | Aeon Metals Ltd. | 0.037 | -36% | -8% | 3% | $33,939,319.97 |
| EMS | Eastern Metals | 0.19 | -16% | 19% | 3% | $6,586,000.00 |
| EVR | Ev Resources Ltd | 0.041 | -31% | 6% | 3% | $37,039,362.84 |
| RAG | Ragnar Metals Ltd | 0.045 | -10% | 7% | 2% | $16,684,135.12 |
| RIO | Rio Tinto Limited | 112.76 | -1% | 6% | 2% | $41,008,255,160.58 |
| MRR | Minrex Resources Ltd | 0.053 | -25% | -5% | 2% | $52,453,206.47 |
| LPI | Lithium Pwr Int Ltd | 0.55 | -35% | -6% | 2% | $188,538,217.92 |
| JRL | Jindalee Resources | 3.37 | -28% | -14% | 2% | $190,498,167.12 |
| MXR | Maximus Resources | 0.072 | -16% | 0% | 1% | $22,571,309.53 |
| WR1 | Winsome Resources | 0.42 | -16% | 2% | 1% | $56,072,307.51 |
| LIT | Lithium Australia | 0.087 | -17% | 1% | 1% | $89,024,209.26 |
| IGO | IGO Limited | 11.995 | -12% | 10% | 1% | $8,981,196,262.18 |
| ADV | Ardiden Ltd | 0.0115 | -21% | -4% | 0% | $30,685,856.59 |
| AVZ | AVZ Minerals Ltd | 0.78 | -28% | 0% | 0% | $2,752,409,203.44 |
| INF | Infinity Lithium | 0.13 | -26% | -7% | 0% | $53,951,698.58 |
| RLC | Reedy Lagoon Corp. | 0.028 | -20% | 4% | 0% | $15,354,002.44 |
| SYA | Sayona Mining Ltd | 0.205 | -43% | -24% | 0% | $1,472,463,246.73 |
| TKL | Traka Resources | 0.008 | -20% | 0% | 0% | $5,510,196.49 |
| BMM | Balkanminingandmin | 0.3 | -15% | 13% | 0% | $9,825,000.00 |
| ARN | Aldoro Resources | 0.21 | -30% | -13% | 0% | $20,834,853.69 |
| PAM | Pan Asia Metals | 0.515 | -6% | 14% | 0% | $37,934,201.66 |
| AX8 | Accelerate Resources | 0.035 | -29% | -5% | 0% | $9,221,061.47 |
| AM7 | Arcadia Minerals | 0.23 | -26% | 2% | 0% | $8,048,275.00 |
| DTM | Dart Mining NL | 0.067 | -12% | 12% | 0% | $9,062,430.72 |
| FRS | Forrestaniaresources | 0.195 | -47% | -13% | 0% | $5,479,266.78 |
| GSM | Golden State Mining | 0.0685 | -18% | 10% | 0% | $7,111,303.66 |
| MMC | Mitremining | 0.145 | -22% | 0% | 0% | $3,927,339.50 |
| KGD | Kula Gold Limited | 0.033 | -30% | -8% | 0% | $7,100,795.86 |
| PNN | PepinNini Minerals | 0.47 | -43% | -16% | 0% | $28,877,873.48 |
| KZR | Kalamazoo Resources | 0.35 | -26% | 8% | 0% | $50,818,030.90 |
| MTM | Mtmongerresources | 0.145 | -34% | 0% | 0% | $5,257,704.79 |
| SCN | Scorpion Minerals | 0.1 | 33% | 11% | 0% | $33,183,119.20 |
| AZI | Altamin Limited | 0.096 | 13% | -2% | 0% | $37,604,808.19 |
| ENT | Enterprise Metals | 0.014 | -36% | 0% | 0% | $9,025,055.97 |
| RMX | Red Mount Min Ltd | 0.008 | -16% | 0% | 0% | $13,138,910.86 |
| A8G | Australasian Metals | 0.39 | -23% | 7% | 0% | $16,056,492.66 |
| EFE | Eastern Resources | 0.036 | -28% | 3% | 0% | $35,799,718.72 |
| SRZ | Stellar Resources | 0.023 | -21% | 0% | 0% | $19,303,960.40 |
| VKA | Viking Mines Ltd | 0.009 | -25% | 0% | 0% | $9,227,325.88 |
| EPM | Eclipse Metals | 0.026 | -26% | -4% | 0% | $49,949,286.74 |
| THR | Thor Mining PLC | 0.013 | -19% | 0% | 0% | $13,753,238.41 |
| M2R | Miramar | 0.12 | -40% | -8% | 0% | $7,667,105.40 |
| XTC | Xantippe Res Ltd | 0.011 | -21% | 10% | 0% | $84,513,625.89 |
| WMC | Wiluna Mining Corp | 0.565 | -37% | 0% | 0% | $119,392,943.93 |
| AUN | Aurumin | 0.175 | -8% | -8% | 0% | $19,114,069.10 |
| ALY | Alchemy Resource Ltd | 0.026 | -4% | 18% | 0% | $24,779,925.48 |
| TYX | Tyranna Res Ltd | 0.009 | 50% | 13% | 0% | $11,811,246.00 |
| FTL | Firetail Resources | 0.325 | -19% | 3% | 0% | $20,079,312.50 |
| MIN | Mineral Resources. | 60.61 | 0% | 4% | 0% | $11,471,272,818.21 |
| PSC | Prospect Res Ltd | 0.9425 | -1% | -1% | 0% | $412,653,804.89 |
| CXO | Core Lithium | 1.27 | -9% | -2% | 0% | $2,208,750,233.10 |
| FFX | Firefinch Ltd | 0.935 | -15% | 3% | -1% | $1,110,368,627.74 |
| MQR | Marquee Resource Ltd | 0.099 | -32% | 6% | -1% | $31,174,848.50 |
| AKE | Allkem Limited | 13.32 | 4% | 10% | -1% | $8,582,877,837.56 |
| PLL | Piedmont Lithium Inc | 0.805 | -18% | 7% | -1% | $429,970,202.00 |
| MNS | Magnis Energy Tech | 0.385 | -17% | -5% | -1% | $376,929,278.31 |
| LKE | Lake Resources | 1.415 | -33% | -3% | -2% | $1,916,267,886.72 |
| 1MC | Morella Corporation | 0.0265 | -30% | -5% | -2% | $139,757,777.62 |
| QXR | Qx Resources Limited | 0.051 | -29% | 2% | -2% | $44,686,840.69 |
| TEM | Tempest Minerals | 0.047 | -53% | -29% | -2% | $24,216,360.43 |
| LRS | Latin Resources Ltd | 0.1175 | -38% | 7% | -2% | $231,458,141.52 |
| NWM | Norwest Minerals | 0.046 | -16% | 7% | -2% | $8,488,547.19 |
| LTR | Liontown Resources | 1.3 | -17% | 2% | -2% | $2,915,659,513.34 |
| VUL | Vulcan Energy | 7.24 | -19% | -1% | -2% | $975,490,116.90 |
| NMT | Neometals Ltd | 1.27 | -28% | -6% | -2% | $712,889,314.80 |
| RGL | Riversgold | 0.042 | -42% | 2% | -2% | $24,572,182.04 |
| TMB | Tambourahmetals | 0.205 | -24% | -5% | -2% | $8,650,445.58 |
| DRE | Dreadnought Resources Ltd | 0.041 | -7% | 11% | -2% | $119,224,709.14 |
| GLN | Galan Lithium Ltd | 1.405 | -27% | -1% | -2% | $438,335,081.28 |
| GL1 | Globallith | 1.6 | -24% | -6% | -2% | $260,265,139.84 |
| IR1 | Irismetals | 0.39 | -38% | -38% | -3% | $20,240,000.00 |
| SRI | Sipa Resources Ltd | 0.038 | -22% | -5% | -3% | $7,995,967.32 |
| CHR | Charger Metals | 0.56 | -25% | -5% | -3% | $18,734,095.13 |
| VMC | Venus Metals Cor Ltd | 0.17 | -15% | -8% | -3% | $26,438,769.53 |
| PGD | Peregrine Gold | 0.475 | -7% | -10% | -3% | $18,760,467.81 |
| MLS | Metals Australia | 0.094 | -41% | 3% | -3% | $42,195,237.26 |
| EMH | European Metals Hldg | 0.93 | -26% | -8% | -3% | $135,145,886.40 |
| GW1 | Greenwing Resources | 0.31 | -34% | 3% | -3% | $39,439,151.68 |
| AOU | Auroch Minerals Ltd | 0.086 | -39% | -7% | -3% | $32,155,860.11 |
| TON | Triton Min Ltd | 0.028 | -18% | 0% | -3% | $36,504,741.13 |
| AZL | Arizona Lithium Ltd | 0.14 | -24% | 0% | -3% | $323,744,285.74 |
| AS2 | Askarimetalslimited | 0.4775 | -31% | -4% | -4% | $20,581,901.51 |
| ESS | Essential Metals Ltd | 0.53 | -23% | -3% | -4% | $135,197,004.80 |
| INR | Ioneer Ltd | 0.52 | -22% | -2% | -4% | $1,129,301,686.80 |
| CRR | Critical Resources | 0.076 | -28% | -13% | -4% | $117,521,422.26 |
| G88 | Golden Mile Res Ltd | 0.05 | -25% | -12% | -4% | $10,594,095.93 |
| EUR | European Lithium Ltd | 0.074 | -30% | -4% | -4% | $106,484,349.97 |
| CZL | Cons Zinc Ltd | 0.023 | -23% | -4% | -4% | $8,432,587.51 |
| NVA | Nova Minerals Ltd | 0.655 | -14% | 6% | -4% | $123,438,565.23 |
| BNR | Bulletin Res Ltd | 0.1625 | -31% | -4% | -4% | $49,315,487.00 |
| PLS | Pilbara Min Ltd | 2.77 | 0% | 1% | -4% | $8,632,819,159.70 |
| LRD | Lordresourceslimited | 0.31 | 11% | 13% | -5% | $10,005,001.83 |
| WCN | White Cliff Min Ltd | 0.02 | -31% | 5% | -5% | $13,725,670.60 |
| LSR | Lodestar Minerals | 0.0095 | -37% | 6% | -5% | $17,384,373.48 |
| LIS | Lisenergylimited | 0.635 | -9% | 2% | -5% | $111,162,505.29 |
| ZEO | Zeotech Limited | 0.05 | -22% | -7% | -6% | $80,820,519.91 |
| AAJ | Aruma Resources Ltd | 0.071 | -38% | -8% | -7% | $11,929,074.23 |
| LEL | Lithenergy | 1.285 | 30% | 8% | -7% | $62,532,750.00 |
| FG1 | Flynngold | 0.12 | -23% | -20% | -17% | $9,288,852.25 |
| AVW | Avira Resources Ltd | 0.004 | -38% | 0% | -20% | $10,593,950.00 |
No news of note today, and it was a pretty flaccid day across the board, with total of 36 stocks in the green, 49 in the red, and 39 failing to move the needle.
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