Eye on Lithium: Canada sells lithium company to China, US lawmakers send stern letter

Canada approves sale of Neo Lithium to China
Anson ups expectations for its resource expansion program
Only 6 out of 88 stocks on our lithium list finished today in the green

All your ASX lithium news for Thursday, February 24.

Canada doesn’t seem too bothered about strengthening its supply chain, and much to the disapproval of its neighbours has allowed the takeover of Neo Lithium Corp by China’s Zijin Mining Group Ltd.

The company is listed on the Toronto Stock Exchange, but its mining site and employees are based in Argentina.

Last month it was sold for $918.7 million with Canadian Innovation Minister Francois-Philippe Champagne telling a Parliamentary committee the acquisition posed no national security risk.

But a trio of US lawmakers disagree.

Michael Walz (R-Florida), Elise Stefanik (R-NY) and Lance Gooden (R-TX) have made their unhappiness felt with a stern letter addressed to addressed to U.S. Secretary of State.

They also covered all their bases, also addressing the letter to the Secretaries for the Department of Interior, Department of Energy, Department of Defence, and Department of Commerce.

They describe the sale of the company as “highly concerning” and accuse the Canadian Government of underestimating the “the threat imposed by the Chinese Communist Party.”

It’s an odd move, since Canada and the U.S. recently created a Joint Action Plan to strengthen critical mineral supply chains.

Here’s how ASX lithium stocks are tracking today:

Code	Company	Price	% Month	% Week	% Today	Market Cap
MMC	Mitremining	0.2	3%	0%	8%	$5,010,743.50
DTM	Dart Mining NL	0.1	8%	16%	5%	$11,826,638.35
CAI	Calidus Resources	0.745	-9%	9%	4%	$286,189,485.01
ENT	Enterprise Metals	0.0145	-23%	-9%	4%	$8,022,282.03
SCN	Scorpion Minerals	0.068	-4%	-4%	3%	$17,549,808.67
NVA	Nova Minerals Ltd	0.93	-13%	4%	1%	$165,786,102.20
GXY	Galaxy Resources	0	-100%	-100%	0%	$2,715,139,305.12
LKE	Lake Resources	0.905	-4%	-1%	0%	$1,106,363,854.79
TKL	Traka Resources	0.011	-39%	-27%	0%	$7,576,520.17
TON	Triton Min Ltd	0.032	-16%	0%	0%	$39,769,093.66
BYH	Bryah Resources Ltd	0.047	-23%	-13%	0%	$10,631,737.23
EMS	Eastern Metals	0.2	-29%	-17%	0%	$7,120,000.00
FG1	Flynngold	0.165	-11%	3%	0%	$10,570,073.25
TSC	Twenty Seven Co. Ltd	0.004	0%	0%	0%	$10,643,255.62
WML	Woomera Mining Ltd	0.017	-19%	-6%	0%	$11,591,162.12
KGD	Kula Gold Limited	0.041	-11%	3%	0%	$8,822,200.91
KZR	Kalamazoo Resources	0.31	-16%	-9%	0%	$45,010,255.94
KAI	Kairos Minerals Ltd	0.023	-23%	-12%	0%	$45,128,150.29
EFE	Eastern Resources	0.049	-33%	-9%	0%	$48,226,259.33
AML	Aeon Metals Ltd.	0.048	2%	0%	-2%	$42,424,635.51
SYA	Sayona Mining Ltd	0.1125	-13%	-6%	-2%	$816,145,940.19
AZI	Altamin Limited	0.069	0%	5%	-3%	$20,642,280.42
MTM	Mtmongerresources	0.16	3%	-6%	-3%	$4,671,155.45
IGO	IGO Limited	10.99	-14%	-10%	-3%	$8,602,562,355.68
PSC	Prospect Res Ltd	0.85	-1%	3%	-3%	$377,716,545.36
A8G	Australasian Metals	0.47	-25%	-10%	-4%	$19,683,542.06
LIT	Lithium Australia NL	0.105	-19%	-9%	-5%	$113,582,765.56
TEM	Tempest Minerals	0.021	-25%	-9%	-5%	$8,753,819.76
AAJ	Aruma Resources Ltd	0.082	-13%	-22%	-5%	$13,498,689.26
GSM	Golden State Mining	0.076	-37%	-17%	-5%	$6,647,038.80
LRS	Latin Resources Ltd	0.036	3%	-14%	-5%	$54,823,251.93
BMM	Balkanminingandmin	0.3	-25%	-10%	-6%	$10,480,000.00
MIN	Mineral Resources.	43.72	-32%	-11%	-6%	$8,824,970,360.03
GT1	Greentechnology	0.72	-13%	-14%	-6%	$81,620,000.00
JRL	Jindalee Resources	2.54	-11%	-13%	-7%	$147,162,787.52
MLS	Metals Australia	0.041	3%	-2%	-7%	$11,524,836.18
AM7	Arcadia Minerals	0.205	-25%	-13%	-7%	$7,698,350.00
EMH	European Metals Hldg	1.07	-30%	-16%	-7%	$161,433,509.75
AX8	Accelerate Resources	0.04	-5%	-13%	-7%	$10,898,732.66
AS2	Askarimetalslimited	0.33	-14%	-8%	-7%	$13,536,158.88
AKE	Allkem Limited	8.65	-16%	-9%	-8%	$5,979,989,996.68
CRR	Critical Resources	0.071	-41%	-29%	-8%	$113,666,360.65
RDT	Red Dirt Metals Ltd	0.525	-29%	-6%	-8%	$145,438,672.05
AGY	Argosy Minerals Ltd	0.29	-21%	-16%	-8%	$413,346,132.99
PLS	Pilbara Min Ltd	2.62	-26%	-15%	-8%	$8,483,870,073.45
FRS	Forrestaniaresources	0.28	-32%	-24%	-8%	$8,555,250.00
GL1	Globallith	1.285	-23%	-3%	-8%	$190,568,803.60
FFX	Firefinch Ltd	0.61	-19%	-10%	-8%	$783,460,573.00
ADV	Ardiden Ltd	0.011	-35%	-15%	-8%	$31,927,708.27
LTR	Liontown Resources	1.3	-20%	-21%	-8%	$3,112,959,781.16
LEL	Lithenergy	0.805	-21%	-21%	-9%	$39,600,000.00
IMI	Infinitymining	0.16	-16%	-18%	-9%	$10,062,500.00
TMB	Tambourahmetals	0.21	-26%	-16%	-9%	$9,474,297.54
RAG	Ragnar Metals Ltd	0.031	-33%	-6%	-9%	$12,671,286.23
ARN	Aldoro Resources	0.36	-3%	-8%	-9%	$35,367,742.66
PGD	Peregrine Gold	0.5	-20%	-20%	-9%	$20,964,970.40
AVW	Avira Resources Ltd	0.005	0%	-29%	-9%	$9,453,345.00
MQR	Marquee Resource Ltd	0.1	-33%	-23%	-9%	$23,591,161.22
PNN	PepinNini Minerals	0.385	-26%	-14%	-9%	$26,017,783.45
VUL	Vulcan Energy	8.18	-13%	-12%	-10%	$1,190,071,613.60
LRV	Larvottoresources	0.19	-10%	-28%	-10%	$8,480,325.00
LPD	Lepidico Ltd	0.028	-40%	-18%	-10%	$193,409,940.63
CHR	Charger Metals	0.605	-28%	-19%	-10%	$21,818,126.56
LPI	Lithium Pwr Int Ltd	0.51	-24%	-20%	-10%	$197,054,964.12
PLL	Piedmont Lithium Inc	0.6	-11%	-15%	-10%	$367,039,169.00
NMT	Neometals Ltd	1.185	-27%	-9%	-10%	$721,114,960.74
1MC	Morella Corporation	0.018	-50%	-18%	-10%	$103,524,279.72
AVZ	AVZ Minerals Ltd	0.705	-5%	-12%	-10%	$2,709,869,517.80
QPM	Queensland Pacific	0.13	-32%	-24%	-10%	$223,751,404.00
INR	Ioneer Ltd	0.51	-31%	-17%	-11%	$1,168,812,587.43
PAM	Pan Asia Metals	0.46	-30%	-19%	-11%	$37,934,201.66
GLN	Galan Lithium Ltd	1.28	-25%	-12%	-11%	$425,993,165.82
CXO	Core Lithium	0.72	-15%	-12%	-11%	$1,372,406,691.69
RLC	Reedy Lagoon Corp.	0.024	-41%	-23%	-11%	$14,792,145.21
RMX	Red Mount Min Ltd	0.008	-27%	-20%	-11%	$14,781,274.72
STM	Sunstone Metals Ltd	0.071	-24%	-15%	-11%	$179,161,678.32
AZL	Arizona Lithium Ltd	0.11	-33%	-21%	-12%	$249,720,806.88
ESS	Essential Metals Ltd	0.305	-41%	-23%	-13%	$85,486,440.20
ESS	Essential Metals Ltd	0.305	-41%	-23%	-13%	$85,486,440.20
EUR	European Lithium Ltd	0.081	-40%	-30%	-13%	$107,125,249.11
ASN	Anson Resources Ltd	0.1	-31%	-17%	-13%	$117,460,917.20
WR1	Winsome Resources	0.325	-35%	-19%	-13%	$50,422,497.75
INF	Infinity Lithium	0.125	-32%	-26%	-14%	$60,150,268.95
QXR	Qx Resources Limited	0.031	-28%	-24%	-14%	$25,771,043.56
BNR	Bulletin Res Ltd	0.12	-14%	4%	-14%	$39,978,387.40
SHH	Shree Minerals Ltd	0.014	0%	-26%	-18%	$18,075,027.16
MRR	Minrex Resources Ltd	0.049	-27%	-28%	-18%	$49,602,609.60
WCN	White Cliff Min Ltd	0.022	-12%	-31%	-19%	$16,216,912.77

Wowzers, only 6 stocks on our list finished today in the green, with 13 flatlining and a massive 69 stocks in the red.

Who’s got news out today?

Anson Resources (ASX:ASN)

The company plans to increase its resource expansion program at the Paradox project in Utah via the targeted drilling of the Cane Creek 32-1 well.

The aim is to target the large Mississippian brine aquifer which has a lithium-rich zone around 100-250m thick – compared to the 10m thick Clastic Zone 31 zone.

The company says this drilling program will follow on from the re-entry and drilling of the Long Canyon No.2 well.

And it expected the results to be included in the ongoing DFS, while it continues to progress project development.