Eye on Lithium: Bolivian lithium race heats up with 6 DLE players left in the running

Bolivian has narrowed down six companies to help it extract lithium
Marquee flags LCT pegmatites at West Spargoville project
Lake resources appoints Citi and J.P. Morgan to coordinate Kachi debt finance

All your ASX lithium news for Friday, June 17.

The Bolivian lithium race is heating up, with the country short-listing six companies to help it extract lithium – in a step that could eventually open up the world’s largest potential resource of the battery metal.

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.

The country’s state-owned lithium producer said it would test direct-lithium extraction (DLE) technologies from six companies on three different brine resources in the country.

The companies still in the running are Russia’s Uranium One, US start-up Lilac Solutions (backed by German carmaker BMW and Bill Gates’s Breakthrough Energy Ventures) along with giant Chinese battery maker CATL and Chinese firms Fusion Enertech, TBEA and CITIC Guoan Group.

All of the firms use Direct Lithium Extraction (DLE) technology which promises to produce cheaper, higher quality, and more environmentally friendly lithium than incumbent processes. This is partly because traditional evaporation ponds have failed in country due to naturally high concentrations of magnesium.

Benchmark Minerals Intelligence Boss Simon Moores points out that none of these companies have actually exploited lithium at a commercial scale before and that “they need lithium majors that have been there and done it.”

Bolivia 🇧🇴 has selected 6 DLE players to try to develop its #lithium at salar de Uyuni, Coipasa, Pastos Grandes

🇨🇳 4 x China: CATL, CITIC GUAON, XINJIANG TBEA, Fusion

🇷🇺 1 x Russia: Uranium One

🇺🇸 1 x USA: Lilac

20 companies > 8 > the final 6

More from @benchmarkmin

— Simon Moores (@sdmoores) June 16, 2022

Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

Code	Company	Price	% Month	% Week	% Today	Market Cap
ALY	Alchemy Resource Ltd	0.019	-5%	0%	19%	$15,249,184.91
TKL	Traka Resources	0.008	-11%	-6%	14%	$4,821,421.93
VMC	Venus Metals Cor Ltd	0.1675	-9%	-9%	12%	$22,661,802.45
MM1	Midasmineralsltd	0.22	-19%	-19%	10%	$10,887,625.00
LRV	Larvottoresources	0.26	-13%	4%	6%	$10,175,462.50
TYX	Tyranna Res Ltd	0.018	125%	13%	6%	$26,050,131.34
CZL	Cons Zinc Ltd	0.02	-23%	5%	5%	$6,903,798.45
MMG	Monger Gold Ltd	0.24	-16%	-4%	4%	$9,209,200.00
KZR	Kalamazoo Resources	0.255	-26%	-11%	4%	$35,572,621.63
LPD	Lepidico Ltd	0.026	-4%	-7%	4%	$162,679,288.33
QXR	Qx Resources Limited	0.029	-41%	-15%	4%	$24,062,144.99
RGL	Riversgold	0.029	-29%	-19%	4%	$21,178,527.97
AX8	Accelerate Resources	0.03	-23%	-9%	3%	$7,640,308.07
FRS	Forrestaniaresources	0.155	-31%	11%	3%	$4,214,820.60
AZL	Arizona Lithium Ltd	0.1	-29%	-9%	3%	$216,573,763.56
AOU	Auroch Minerals Ltd	0.069	-24%	-20%	3%	$24,753,270.53
NVA	Nova Minerals Ltd	0.605	-1%	3%	3%	$106,319,348.15
PNN	Power Minerals Ltd	0.42	-21%	-8%	2%	$25,216,433.36
DRE	Dreadnought Resources Ltd	0.042	8%	11%	2%	$116,386,025.59
WR1	Winsome Resources	0.225	-42%	-30%	2%	$29,725,078.68
GW1	Greenwing Resources	0.225	-29%	-18%	2%	$27,114,416.78
SYA	Sayona Mining Ltd	0.1375	-46%	-2%	2%	$1,112,734,821.06
FFX	Firefinch Ltd	0.2325	-73%	-15%	1%	$271,685,940.83
PSC	Prospect Res Ltd	0.965	2%	1%	1%	$425,611,592.50
CAI	Calidus Resources	0.675	-17%	-9%	1%	$270,159,850.86
ADV	Ardiden Ltd	0.008	-38%	-11%	0%	$21,346,682.85
1MC	Morella Corporation	0.017	-35%	-11%	0%	$87,995,637.76
AML	Aeon Metals Ltd.	0.023	-39%	-15%	0%	$22,796,020.43
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	$2,752,409,203.44
EUR	European Lithium Ltd	0.056	-26%	-15%	0%	$77,443,163.62
BMM	Balkanminingandmin	0.19	-33%	-21%	0%	$6,222,500.00
DTM	Dart Mining NL	0.058	-3%	-11%	0%	$7,845,089.28
FG1	Flynngold	0.11	-19%	-15%	0%	$7,046,715.50
IMI	Infinitymining	0.13	-21%	-19%	0%	$7,475,000.00
MMC	Mitremining	0.12	-17%	-8%	0%	$3,250,212.00
RAG	Ragnar Metals Ltd	0.042	14%	0%	0%	$15,925,765.34
TSC	Twenty Seven Co. Ltd	0.003	-25%	0%	0%	$7,982,441.72
WCN	White Cliff Min Ltd	0.018	-10%	0%	0%	$11,764,860.52
WML	Woomera Mining Ltd	0.018	-10%	-5%	0%	$12,362,995.19
KGD	Kula Gold Limited	0.025	-31%	-19%	0%	$5,379,390.80
LRS	Latin Resources Ltd	0.066	-37%	-11%	0%	$127,377,606.71
MTM	Mtmongerresources	0.115	-28%	-28%	0%	$4,169,903.80
SCN	Scorpion Minerals	0.072	-17%	-10%	0%	$23,891,845.82
AZI	Altamin Limited	0.096	-1%	1%	0%	$37,604,808.19
ENT	Enterprise Metals	0.012	-14%	-8%	0%	$7,735,762.26
KAI	Kairos Minerals Ltd	0.019	-27%	-21%	0%	$37,279,776.33
AVW	Avira Resources Ltd	0.004	-20%	0%	0%	$8,475,160.00
BNR	Bulletin Res Ltd	0.135	-21%	-7%	0%	$39,162,298.50
SRZ	Stellar Resources	0.02	-13%	0%	0%	$16,786,052.52
AOA	Ausmon Resorces	0.006	-25%	-14%	0%	$5,143,736.06
VKA	Viking Mines Ltd	0.007	-22%	0%	0%	$7,176,809.02
IPT	Impact Minerals	0.008	-24%	-11%	0%	$19,850,964.45
SRI	Sipa Resources Ltd	0.036	-8%	-10%	0%	$7,380,892.91
G88	Golden Mile Res Ltd	0.04	-27%	-18%	0%	$8,149,304.56
EPM	Eclipse Metals	0.023	-12%	-4%	0%	$44,185,907.50
XTC	Xantippe Res Ltd	0.009	-10%	0%	0%	$69,237,512.09
LRD	Lordresourceslimited	0.19	-27%	-16%	0%	$5,849,077.99
AUN	Aurumin	0.13	-32%	-21%	0%	$14,199,022.76
LIS	Lisenergylimited	0.43	-27%	-12%	0%	$71,343,100.41
DAF	Discovery Alaska Ltd	0.05	19%	-4%	0%	$11,211,734.90
LNR	Lanthanein Resources	0.017	-32%	-11%	0%	$14,243,034.69
CY5	Cygnus Gold Limited	0.155	7%	-6%	0%	$18,287,723.83
DAL	Dalaroometalsltd	0.095	-32%	12%	-1%	$2,868,000.00
LPI	Lithium Pwr Int Ltd	0.395	-31%	-7%	-1%	$139,657,939.20
PLL	Piedmont Lithium Inc	0.715	-4%	-8%	-1%	$382,488,830.00
GLN	Galan Lithium Ltd	1.1	-21%	-11%	-2%	$340,927,285.44
KTA	Krakatoa Resources	0.054	-34%	-11%	-2%	$18,959,045.44
MLS	Metals Australia	0.051	-44%	-15%	-2%	$27,457,881.93
RAS	Ragusa Minerals Ltd	0.093	24%	-1%	-2%	$11,944,934.82
QPM	Queensland Pacific	0.1075	-26%	-10%	-2%	$171,997,444.41
PLS	Pilbara Min Ltd	2.08	-20%	-9%	-2%	$6,340,687,057.92
LTR	Liontown Resources	1.03	-17%	-10%	-2%	$2,312,797,583.89
STM	Sunstone Metals Ltd	0.041	-31%	-24%	-2%	$108,126,749.56
MIN	Mineral Resources.	52.17	-5%	-10%	-2%	$10,112,807,721.15
ESS	Essential Metals Ltd	0.37	-27%	-12%	-3%	$93,665,221.50
RLC	Reedy Lagoon Corp.	0.0185	-26%	3%	-3%	$10,591,111.33
AGY	Argosy Minerals Ltd	0.345	-8%	-13%	-3%	$481,372,393.77
EMH	European Metals Hldg	0.685	-31%	-18%	-3%	$99,247,760.33
MQR	Marquee Resource Ltd	0.068	-28%	-22%	-3%	$21,836,393.95
CRR	Critical Resources	0.0465	-36%	-18%	-3%	$71,410,938.38
MNS	Magnis Energy Tech	0.3	-24%	-13%	-3%	$299,610,451.99
TMB	Tambourahmetals	0.145	-29%	-12%	-3%	$6,178,889.70
WC8	Wildcat Resources	0.029	-12%	-15%	-3%	$19,358,181.81
GT1	Greentechnology	0.71	-10%	-20%	-3%	$116,006,520.00
CXO	Core Lithium	1.1675	-1%	-4%	-4%	$2,096,147,280.04
GL1	Global Lithium	1.225	-25%	-18%	-4%	$201,546,785.12
EMS	Eastern Metals	0.13	-19%	-24%	-4%	$4,806,000.00
RDT	Red Dirt Metals Ltd	0.365	-16%	-21%	-4%	$115,730,681.88
RIO	Rio Tinto Limited	107.22	3%	-9%	-4%	$41,464,851,103.80
AAJ	Aruma Resources Ltd	0.067	-13%	-3%	-4%	$10,987,305.21
ASN	Anson Resources Ltd	0.11	0%	-15%	-4%	$118,209,918.53
IGO	IGO Limited	10.5	-1%	-10%	-4%	$8,322,373,264.87
AKE	Allkem Limited	9.82	-14%	-12%	-4%	$6,555,125,124.08
A8G	Australasian Metals	0.2	-44%	-33%	-5%	$8,645,803.74
NMT	Neometals Ltd	0.965	-29%	-11%	-5%	$556,602,041.94
CHR	Charger Metals	0.38	-32%	-19%	-5%	$13,032,414.00
PAM	Pan Asia Metals	0.475	9%	-5%	-5%	$36,829,322.00
THR	Thor Mining PLC	0.0095	-24%	-21%	-5%	$10,673,009.73
MRR	Minrex Resources Ltd	0.037	-29%	-10%	-5%	$39,339,904.85
TKM	Trek Metals Ltd	0.063	-16%	-19%	-5%	$20,655,574.98
LKE	Lake Resources	1.575	9%	19%	-5%	$2,241,864,155.07
AM7	Arcadia Minerals	0.175	-17%	-19%	-5%	$6,473,612.50
VUL	Vulcan Energy	5.42	-25%	-20%	-5%	$754,326,365.70
AS2	Askarimetalslimited	0.26	-47%	-20%	-5%	$11,438,424.25
BYH	Bryah Resources Ltd	0.034	-29%	-11%	-6%	$8,143,458.30
INR	Ioneer Ltd	0.3775	-22%	-14%	-6%	$836,519,768.00
LIT	Lithium Australia	0.067	-23%	-17%	-6%	$73,513,774.24
MXR	Maximus Resources	0.045	-38%	-29%	-6%	$15,259,476.86
FTL	Firetail Resources	0.3	-2%	-13%	-6%	$19,770,400.00
JRL	Jindalee Resources	2.82	-24%	-11%	-6%	$172,710,687.66
ARN	Aldoro Resources	0.145	-34%	-17%	-6%	$15,378,106.30
GSM	Golden State Mining	0.042	-35%	-29%	-7%	$5,238,959.36
INF	Infinity Lithium	0.125	-7%	-7%	-7%	$56,026,763.91
EVR	Ev Resources Ltd	0.025	-36%	-22%	-7%	$25,001,569.92
TEM	Tempest Minerals	0.037	-40%	-20%	-8%	$20,190,647.04
TON	Triton Min Ltd	0.023	-18%	-15%	-8%	$31,469,604.43
EFE	Eastern Resources	0.023	-38%	-8%	-8%	$24,860,915.78
LEL	Lithenergy	0.785	-32%	-18%	-8%	$38,603,250.00
PGD	Peregrine Gold	0.345	-22%	-21%	-9%	$14,548,934.22
ZEO	Zeotech Limited	0.048	-14%	-20%	-9%	$80,820,519.91
ZNC	Zenith Minerals Ltd	0.3	-18%	-22%	-12%	$116,927,412.70
SHH	Shree Minerals Ltd	0.007	-30%	-22%	-13%	$9,777,895.14
IR1	Irismetals	0.26	-59%	-16%	-13%	$17,887,500.00
LSR	Lodestar Minerals	0.006	-40%	-20%	-14%	$12,169,061.44
NWM	Norwest Minerals	0.03	-29%	-25%	-14%	$6,321,258.55
RMX	Red Mount Min Ltd	0.005	-38%	-29%	-17%	$9,854,183.15
M2R	Miramar	0.082	-34%	-18%	-17%	$6,354,479.64
WMC	Wiluna Mining Corp	0.335	-31%	-31%	-31%	$101,961,574.11

A total of 25 stocks were in the green, 37 flatlined and only 66 were in the red.

Who’s got news out today?

MARQUEE RESOURCES (ASX:MQR)

The company has identified lithium-cesium-tantalum (LCT) pegmatites in aircore drilling at its West Spargoville project – plus a large LCT halo extending over 2km and up to 300m wide which will be followed up with reverse-circulation drilling to test for bedrock mineralisation.

“We are currently systematically exploring the Project with RC drilling continuing for the forseeable future and will begin another round of aircore drilling in the last week of June so it is a very exciting time for the company,” executive chairman Charles Thomas said.

LAKE RESOURCES (ASX:LKE)

Lake has appointed Citi and J.P. Morgan as joint coordinators for proposed debt finance of its 50,000 tpa lithium carbonate equivalent (LCE) Kachi project in Argentina.

The two investment banks will work together on the debt financing package for Kachi, with the ongoing support of GKB Ventures Ltd and SD Capital Advisory Limited.

The contemplated debt financing will be based on the indicative support by UK Export Finance (UKEF, the Export Credit Agency of the United Kingdom) to cover approximately 70% of the total Kachi Project funding requirement, subject to UKEF approval and to standard project finance conditions.

It is also planned to have Export Development of Canada, (EDC, Canada’s Export Credit Agency) to participate alongside UKEF as the lead ECA, under a Common Terms Agreement.

Lake says the amount of the proposed debt financing will be governed, among other things, by the outcomes of the DFS currently underway.

VULCAN ENERGY RESOURCES (ASX:VUL)

Vulcan says the City Council of Landau, which covers part of Vulcan’s geothermal production license at Insheim, as well as the Landau Süd production licence where Vulcan has a brine offtake agreement with the operator, has voted in support of a few project developments.

These include voting to a) support geothermal energy production in the area, and b) take a positive stance towards the extraction of lithium from geothermal brine, upon consideration of climate protection goals as well as the interests of the regional-urban development in the area.

The company said the positive City Council vote towards geothermal energy and lithium extraction is an important development milestone and first step of the community to enable geothermal-lithium development – marking a significant point in the progress of the Zero Carbon Lithium business in Europe.

INFINITY LITHIUM (ASX:INF)

INF has included its wholly owned Spanish subsidiary, Extremadura New Energies in the major private-public alliance SOI H2-ALEX (‘the Group’) which is focused on green hydrogen developments in Spain and Portugal.

In alliance with around 30 entities, the Group’s pipeline of work includes the advancement of an Iberian green hydrogen project and pipeline from Lisbon in Portugal to Puertollano in Spain, with a branch extended to Cáceres.

“The new project designed by Extremadura New Energies is proposing the use of green hydrogen for calcining and roasting of the lithium bearing materials instead of natural gas,” Extremadura New Energies CEO, Ramón Jiménez said.

“This is in addition to the use of 100% renewable energy and the incorporation of electric vehicles, allowing us to develop an environmentally and socially viable project with the minimisation of the major emitting sources of energy.

“The carbon footprint makes this plant unique in Europe and meets the highest standards of sustainability.”

EV RESOURCES (ASX:EVR)

EVR has approved Austrian geological consultants, GEO Unterweissacher, to carry out the exploration strategy for the company’s satellite Eastern Alps Lithium Project in Austria.

“The outcome of this step in the strategy is a map containing exploration areas for soil Geo chemistry and/or possible drill hole program,” executive director Adrian Paul says.

“Previous reviews indicate good potential for lithium mineralization, with various results up to >3% Li2O.”

The project is owned 80% by EVR and 20% by European Lithium (ASX:EUR).