Eye on Lithium: CATL trumps Tesla with new, more powerful EV battery
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Here is all your ASX lithium news for Monday, June 27.
Travelling to far-flung places on a single charge might soon be a thing for electric vehicle enthusiasts. Chinese battery manufacturer and tech company, Contemporary Amperex Technology Co (CATL), has revealed its ‘Qilin’ electric car battery and says it boasts a range of more than 1,000km on a single charge.
Named after a mythical creature, CATLS’s Qilin battery hits a record-breaking volume utilisation efficiency of 72% while its energy density reaches up to 255Wh/kg.
This means not only means that it achieves the highest integration level worldwide but according to Bloomberg, it also means the Qilin battery is 13% more powerful than one planned by Tesla.
As the world’s biggest EV battery maker, CATL said it plans to begin manufacturing the Qilin battery next year.
China’s @catl_official unveils new EV battery with range of 1,000 kms on single charge.
— Electric Vehicle Info (@evehicleinfo) June 27, 2022
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The lithium market is back on its feet with 71 companies finishing in the green today.
A total of 26 companies ended the day in red while 31 failed to move the needle.
SYA has discovered more lithium at its emerging northern Québec Moblan Lithium Project during a 35-hole drilling program for 4,683m.
Grades of up to 2% lithium oxide were returned, demonstrating that spodumene pegmatites are more significantly developed at depth than can be recognised at surface, indicating the potential for the discovery of multiple pegmatite clusters.
Drilling is continuing, with three diamond rigs currently on site and a new 20,000m drill program underway.
MD Brett Lynch said these latest results are another boost to the company’s northern lithium hub, demonstrating Moblan’s potential to become a world‐class deposit in a proven lithium region.
“Moblan adds to our Abitibi lithium hub to the south in giving Sayona a leading lithium resource base in North America, amid continued increases in demand for this key battery metal from the North American EV and battery sector.”
PNN is planning to undertake resource definition drilling at the Incahuasi Salar at the Salta Lithium Project in Argentina, which will consist of two holes for a total of 1,000m.
Drilling is designed to deliver a JORC resource at Incahuasi and expand the project’s total existing resource.
Approvals for drilling have been granted and site set-up is underway with drilling to begin once rig availability has been confirmed.
The company says drilling Incahuasi represents a next step in the systematic development of the Salta Project, which consists of five salares that sit within seven mining leases over a total area of 147.07km2.
The latest assay results from diamond drilling at the Colina Lithium prospect, one of several prospects within the Salina Lithium Project in Brazil, has confirmed the previously reported visual spodumene estimations in hole SADD016.
These results have surpassed all previous intersections, returning 25.24m at 1.25% lithium oxide from the central area of the Colina prospect.
LRS MD Tony Greenaway said these latest assays from drill hole SADD016 is one of the company’s ‘best intersections’ to date.
Preliminary Dense Media Separation (DMS) metallurgical test work is now underway on the Colina prospect drill core as a part of the company’s fast-track strategy.
TYX has completed negotiations with Angolan Minerals and has executed a formal share sale agreement with shareholders of the company.
Tyranna will shortly dispatch a notice for a general meeting to be held in late July 2022, at which shareholders will be asked to approve the acquisition of Angolan Minerals.
TYX director Joe Graziano said this marked a very important step in the process.
“Once we have the necessary approvals we intend to move quickly in establishing our presence in Angola and commencing the first phase of our exploration program as announced in the presentation on June 14,” he said.