Eye on Lithium: Chinese lithium giant name-alikes back Nigerian plant; TG6 soars by 220pc

Nigeria’s first ever lithium processing plant has big-name backers… But what’s in a name, eh?
What’s hot, what’s not today for ASX lithium stocks?
Up over 200pc, TG6 is plasma hot

Lithium news, Monday October 30.

It’s not the best start to an ASX trading week, but an okay one considering what a month it’s been for ASX stocks in general.

At the top end of town local lithium giant IGO was down 9% at one stage after a lithium price warning it might’ve done better to stay mum on, while at the small end of town, there’s been incredible movement for TG6.

There’s always a few ASX lithium stocks catching the eye and we’ll get to those in a sec.

But first…

Chinese lithium giant wannabes back Nigerian project

Well, this is one way to gain some attention and traction for your lithium-focused enterprise…

As reported by Bloomberg, Nigeria’s first-ever lithium-processing plant made news with “much fanfare” after it appeared to receive backing from three Chinese giants of the lithium world – Ganfeng, Tianqi and CATL.

The only thing about that is, that those particular, renowned companies – the ones most folk in the industry know at least – have no formal affiliation with the $250m Nigerian project.

And that’s because the actual three firms backing the project have near-identical names to the Chinese heavyweights.

A trio of firms behind a planned lithium plant in Nigeria have nothing to do with three nearly identically named behemoths listed on the Shenzhen and Hong Kong stock exchanges https://t.co/Ak6egviomQ

— Bloomberg (@business) October 27, 2023

Ganfeng Lithium Industry Ltd, Tianqi Lithium Industrial Ltd and Ningde Era Ltd (which is the literal English translation of the Chinese characters that form CATL) are three companies reportedly formed by Chinese nationals last year – traced to an address “in a medium-sized southwestern Nigerian town”.

“We are independent companies,” one Kelvin Dai, the MD of the Nigerian Ganfeng, told Bloomberg via a text. “Please don’t make any confusion.”

Happy to help (Bloomberg) spread the word, Kelvin.

Movers and shake-outs

What’s hot? 🚀

TG Metals (ASX:TG6) +220%

Larvotto Resources (ASX:LRV) +60% (note: now in a trading pause – pending an update on exploration results.)

First Lithium (ASX:FL1) +23%

What’s not? 📉

Sabre Resources (ASX:SBR) -18%

Patagonia Lithium (ASX:PL3) -14%

Also turning heads

Read our Resources Top 5 report from earlier in the day to learn why TG6, LRV and FL1 have been moving up and to the right today. But also catching our eye, among others today, we have:

Cosmos Exploration (ASX:C1X)

This lithium-hunting junior is up about 14% at the time of writing today after it provided an update this morning on its exploration activities at its prospective Corvette Far East Lithium project and Lasalle project, in the prolific James Bay district in Quebec, Canada – near the CV5 lithium discovery by Patriot Battery Metals (ASX:PMT).

James Bay Lithium Projects – Exploration Updatehttps://t.co/xNhkePlqCt #Rareearths $C1X #C1X

— Cosmos Exploration Limited (ASX: C1X) (@Cosmos_ASX) October 30, 2023

Highlights, per the ASX release include:

• Multiple work programs progressing on Cosmos’ highly prospective exploration projects located between recent spodumene discoveries made by Loyal Lithium, Brunswick Exploration, the Midland Exploration-Rio Tinto JV and Patriot Battery Metals .

• Detailed in-fill magnetics and LiDARDEM surveys commencing at Corvette Far East (CFE) around recently identified highly fractionated pegmatites.

• Ongoing work programs at CFE will assist in refining drill targets and vectoring into spodumene-bearing zones. The drill permitting process has commenced for the upcoming winter drill program.

• Exploration activities also advancing at Lasalle, where extensive pegmatite boulders have been identified as well as high-grade gold mineralisation up to 42.4g/t Au.

• Research at Lasalle indicates that multiple pegmatite dykes were intersected in historical drilling, with no assays for lithium or critical pathfinder metals.

CX1 share price

And also…

As Eddy notes in his ASX Large Caps column…

IGO (ASX:IGO) plunged 9% today after warning that lower lithium prices could hit its current quarter sales.

The company reported strong quarterly result at Greenbushes, with record spodumene production and lower cash costs. Greenbushes delivered another record quarterly production result of 414kt on a 100% basis, while unit production costs of $262/t were lower by 3%.

2023-10-30#Lithium Carbonate 99.5% Min China Spot

Price: $23,125.90
1 day: $-139.31 (-0.60%) 📉
YTD: -68.62%#Spodumene Concentrate (6%, CIF China)

Price: $2,110.00
1 day: $-20 (-0.94%) 📉
YTD: -63.78%

Sponsored by @SiennaResources $SIE $SNNAF https://t.co/cacYH1GPAN

— Lithium Price Bot (@LithiumPriceBot) October 30, 2023

ASX lithium form guide (weekly/yearly):

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.

Stocks missing from this list?

Email [email protected] and/or [email protected]

CODE	COMPANY	PRICE	1 WEEK RTN %	1 MTH RTN %	YTD RTN %	1 YR RTN %	MARKET CAP
ADV	Ardiden Ltd	0.0055	38%	10%	0%	-21%	$13,441,677
AGY	Argosy Minerals Ltd	0.165	-6%	-11%	-41%	-71%	$238,749,275
1MC	Morella Corporation	0.005	-9%	-17%	-1%	-76%	$33,762,606
AML	Aeon Metals Ltd.	0.012	0%	-29%	-2%	-56%	$13,156,807
ASN	Anson Resources Ltd	0.1625	12%	8%	-2%	-49%	$205,718,267
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	0%	$2,752,409,203
CXO	Core Lithium	0.35	1%	4%	-68%	-75%	$758,612,118
EMH	European Metals Hldg	0.655	-10%	-6%	2%	-14%	$80,042,792
ESS	Essential Metals Ltd	0.5	8%	6%	18%	5%	$135,278,382
EUR	European Lithium Ltd	0.066	-4%	-7%	-1%	-27%	$96,202,503
GLN	Galan Lithium Ltd	0.64	-15%	12%	-43%	-59%	$231,360,593
INF	Infinity Lithium	0.085	0%	2%	-4%	-61%	$39,320,328
INR	Ioneer Ltd	0.1475	-11%	-31%	-23%	-72%	$306,098,817
JRL	Jindalee Resources	1.37	-1%	-20%	-52%	-41%	$81,435,394
LIT	Lithium Australia	0.032	2%	-9%	-1%	-36%	$37,887,942
LKE	Lake Resources	0.1675	-4%	5%	-63%	-84%	$241,815,600
LPD	Lepidico Ltd	0.0095	-5%	-14%	-1%	-55%	$61,106,464
LPI	Lithium Pwr Int Ltd	0.5275	0%	103%	9%	-18%	$333,495,907
LTR	Liontown Resources	1.61	-15%	-45%	29%	-17%	$4,064,506,385
MIN	Mineral Resources.	60.28	1%	-9%	-1692%	-21%	$11,787,308,387
MLS	Metals Australia	0.037	12%	12%	-1%	-8%	$20,593,194
AKE	Allkem Limited	10.015	-6%	-12%	-123%	-31%	$6,495,504,337
PLL	Piedmont Lithium Inc	0.465	-8%	-23%	-18%	-51%	$165,436,560
PLS	Pilbara Min Ltd	3.84	-1%	-6%	9%	-25%	$11,827,188,254
QPM	Queensland Pacific	0.058	-3%	-3%	-5%	-64%	$118,737,666
PSC	Prospect Res Ltd	0.088	-1%	13%	-3%	-16%	$41,141,092
RLC	Reedy Lagoon Corp.	0.005	0%	-17%	0%	-60%	$2,466,734
SYA	Sayona Mining Ltd	0.0815	-2%	-3%	-11%	-69%	$844,050,273
TKL	Traka Resources	0.005	0%	0%	0%	-17%	$4,376,646
TON	Triton Min Ltd	0.028	40%	33%	-1%	17%	$40,595,246
VUL	Vulcan Energy	2.15	-10%	-28%	-418%	-71%	$373,704,368
GL1	Globallith	1.21	-4%	-13%	-64%	-53%	$322,227,267
BMM	Balkanminingandmin	0.125	-19%	-38%	-21%	-58%	$9,288,968
LEL	Lithenergy	0.695	22%	16%	-8%	-40%	$69,016,700
ARN	Aldoro Resources	0.099	13%	15%	-6%	-65%	$13,327,751
NMT	Neometals Ltd	0.25	-14%	-26%	-55%	-78%	$174,292,000
IGO	IGO Limited	9.63	-14%	-20%	-383%	-41%	$8,064,902,208
AAJ	Aruma Resources Ltd	0.032	0%	0%	-2%	-54%	$6,694,311
PAM	Pan Asia Metals	0.145	-28%	-28%	-27%	-63%	$23,823,215
AX8	Accelerate Resources	0.043	54%	72%	2%	39%	$19,106,090
AM7	Arcadia Minerals	0.085	-7%	-19%	-12%	-73%	$9,814,509
AS2	Askarimetalslimited	0.17	-15%	-6%	-27%	-62%	$13,056,036
BYH	Bryah Resources Ltd	0.013	-7%	-13%	-1%	-45%	$5,020,474
EMS	Eastern Metals	0.031	3%	0%	-4%	-75%	$2,062,735
FG1	Flynngold	0.064	-6%	12%	-4%	-39%	$8,864,868
FRS	Forrestaniaresources	0.031	-11%	-31%	-11%	-84%	$3,069,048
GSM	Golden State Mining	0.02	-44%	-39%	-2%	-41%	$3,821,766
IMI	Infinitymining	0.12	0%	0%	-16%	-50%	$9,318,166
LRV	Larvottoresources	0.16	39%	23%	0%	-14%	$6,725,472
MMC	Mitremining	0.23	7%	-13%	-5%	31%	$10,430,523
RAG	Ragnar Metals Ltd	0.022	-12%	-8%	1%	5%	$10,901,562
CTN	Catalina Resources	0.004	0%	0%	-1%	-47%	$4,953,948
TMB	Tambourahmetals	0.12	4%	-38%	2%	-14%	$9,952,842
TEM	Tempest Minerals	0.008	7%	-11%	-2%	-72%	$3,579,684
EMC	Everest Metals Corp	0.089	-19%	-19%	1%	-11%	$13,328,311
WCN	White Cliff Min Ltd	0.011	-8%	-8%	0%	-48%	$15,084,223
WML	Woomera Mining Ltd	0.009	-10%	-25%	-1%	-33%	$8,605,751
AZL	Arizona Lithium Ltd	0.016	14%	14%	-5%	-81%	$47,920,345
CRR	Critical Resources	0.027	-13%	-29%	-2%	-55%	$49,779,808
KGD	Kula Gold Limited	0.012	0%	-20%	-1%	-68%	$5,038,361
LRS	Latin Resources Ltd	0.26	-2%	0%	16%	148%	$671,289,081
PNN	Power Minerals Ltd	0.24	-2%	-8%	-29%	-52%	$19,131,883
WR1	Winsome Resources	1.375	13%	-5%	15%	277%	$247,691,580
KZR	Kalamazoo Resources	0.095	0%	-5%	-12%	-51%	$15,940,873
MTM	MTM Critical Metals	0.023	5%	-45%	-6%	-81%	$2,185,416
QXR	Qx Resources Limited	0.024	0%	9%	-2%	-61%	$25,431,741
SCN	Scorpion Minerals	0.055	-2%	2%	-2%	-21%	$20,108,959
AZI	Altamin Limited	0.059	-5%	-9%	-2%	-30%	$23,111,288
KAI	Kairos Minerals Ltd	0.017	-15%	-15%	0%	-36%	$52,418,244
STM	Sunstone Metals Ltd	0.018	20%	0%	-2%	-42%	$49,311,758
PGD	Peregrine Gold	0.275	4%	-4%	-11%	-32%	$15,167,955
AVW	Avira Resources Ltd	0.002	100%	0%	0%	-33%	$4,267,580
NVA	Nova Minerals Ltd	0.2675	1%	19%	-41%	-61%	$53,776,940
GT1	Greentechnology	0.395	-5%	-6%	-43%	-58%	$85,191,009
BNR	Bulletin Res Ltd	0.16	52%	113%	7%	14%	$49,910,487
CAI	Calidus Resources	0.185	42%	19%	-9%	-45%	$118,536,573
MRR	Minrex Resources Ltd	0.0145	-9%	4%	-2%	-65%	$15,188,145
A8G	Australasian Metals	0.165	-18%	-3%	-3%	-31%	$8,599,882
EFE	Eastern Resources	0.008	0%	-11%	-2%	-78%	$9,935,572
MQR	Marquee Resource Ltd	0.025	-4%	-19%	-1%	-60%	$10,747,994
SRZ	Stellar Resources	0.0085	-6%	-29%	0%	-29%	$8,785,492
LSR	Lodestar Minerals	0.005	0%	-17%	0%	0%	$10,116,987
NWM	Norwest Minerals	0.03	-3%	-9%	-2%	-32%	$10,352,502
AOA	Ausmon Resorces	0.0035	17%	0%	0%	-42%	$3,524,498
VKA	Viking Mines Ltd	0.01	11%	-9%	0%	25%	$9,227,326
IPT	Impact Minerals	0.01	0%	-17%	0%	43%	$25,782,335
SRI	Sipa Resources Ltd	0.021	-5%	5%	-1%	-61%	$5,475,795
VMC	Venus Metals Cor Ltd	0.105	5%	-16%	3%	20%	$18,972,868
RGL	Riversgold	0.01	-17%	-23%	-2%	-77%	$10,463,876
ZNC	Zenith Minerals Ltd	0.089	-6%	-2%	-18%	-69%	$31,361,899
RAS	Ragusa Minerals Ltd	0.036	3%	13%	-8%	-84%	$5,703,951
G88	Golden Mile Res Ltd	0.018	-14%	-44%	0%	-29%	$6,587,790
EPM	Eclipse Metals	0.011	-8%	-15%	-1%	-42%	$20,280,598
EVR	Ev Resources Ltd	0.0115	5%	-12%	0%	-48%	$10,392,578
WC8	Wildcat Resources	0.86	87%	121%	84%	2588%	$806,658,366
MNS	Magnis Energy Tech	0.074	0%	4%	-30%	-81%	$88,762,863
RIO	Rio Tinto Limited	119	4%	7%	259%	29%	$43,703,284,874
THR	Thor Energy PLC	0.026	4%	-32%	-3%	-68%	$4,761,086
YAR	Yari Minerals Ltd	0.017	31%	-11%	0%	-29%	$8,200,083
MXR	Maximus Resources	0.04	5%	25%	0%	0%	$12,824,231
DRE	Dreadnought Resources Ltd	0.03	-30%	-42%	-8%	-76%	$106,751,090
MM1	Midasmineralsltd	0.15	-12%	-14%	-5%	-17%	$12,982,087
M2R	Miramar	0.026	-26%	-40%	-5%	-70%	$3,870,608
LLI	Loyal Lithium Ltd	0.45	5%	-38%	16%	5%	$39,489,242
WMC	Wiluna Mining Corp	0.205	0%	0%	0%	0%	$74,238,031
AUN	Aurumin	0.03	3%	20%	-3%	-64%	$9,553,292
ZEO	Zeotech Limited	0.042	-16%	-28%	-1%	11%	$73,354,692
ALY	Alchemy Resource Ltd	0.01	-9%	-9%	-1%	-73%	$11,780,763
LIS	Lisenergylimited	0.235	7%	18%	-9%	-45%	$140,844,051
GW1	Greenwing Resources	0.13	8%	4%	-15%	-61%	$24,395,207
KTA	Krakatoa Resources	0.02	18%	-5%	-2%	-69%	$9,567,754
TYX	Tyranna Res Ltd	0.016	7%	-6%	-1%	-66%	$52,582,805
DAF	Discovery Alaska Ltd	0.018	-5%	-5%	-1%	-45%	$4,216,225
FTL	Firetail Resources	0.105	14%	5%	-6%	-49%	$15,635,083
IR1	Irismetals	1.6	14%	-20%	44%	-3%	$208,260,994
LNR	Lanthanein Resources	0.006	0%	-25%	-2%	-81%	$6,729,453
DAL	Dalaroometalsltd	0.03	-25%	-45%	-7%	-75%	$2,448,000
TKM	Trek Metals Ltd	0.051	65%	-7%	-3%	-27%	$24,882,004
CY5	Cygnus Metals Ltd	0.18	33%	11%	-20%	-63%	$46,406,822
TUL	Tulla Resources	0	-100%	-100%	-33%	-100%	$118,262,971
WES	Wesfarmers Limited	50.265	-2%	-5%	436%	13%	$57,073,838,952
LLL	Leolithiumlimited	0.505	0%	0%	2%	-23%	$498,553,663
OCN	Oceanalithiumlimited	0.135	-7%	-39%	-21%	-71%	$7,165,328
A11	Atlantic Lithium	0.4	-18%	-14%	-22%	-34%	$247,957,872
CMD	Cassius Mining Ltd	0.034	-8%	3%	1%	13%	$16,888,759
VSR	Voltaic Strategic	0.021	5%	-32%	0%	11%	$11,594,493
SGQ	St George Min Ltd	0.042	14%	5%	-3%	-31%	$34,709,574
LLO	Lion One Metals Ltd	0.98	-17%	-4%	-19%	24%	$13,994,439
PAT	Patriot Lithium	0.17	0%	-6%	-10%	0%	$11,819,188
PL3	Patagonia Lithium	0.12	-20%	0%	0%	0%	$6,860,490
BUR	Burleyminerals	0.21	17%	17%	-1%	11%	$21,778,803
CHR	Charger Metals	0.175	25%	52%	-27%	-63%	$11,180,586
RMX	Red Mount Min Ltd	0.004	0%	0%	0%	-11%	$10,694,304
DLI	Delta Lithium	0.5925	-10%	-24%	12%	12%	$330,934,066
LM1	Leeuwin Metals Ltd	0.255	-15%	6%	0%	0%	$13,211,575
ENT	Enterprise Metals	0.003	0%	-25%	-1%	-70%	$2,398,413
FIN	FIN Resources Ltd	0.028	47%	155%	1%	17%	$16,146,920
DTM	Dart Mining NL	0.018	-9%	-24%	-4%	-71%	$3,489,220
NIS	Nickelsearch	0.057	12%	-2%	-10%	-57%	$8,495,758
EG1	Evergreenlithium	0.23	2%	-23%	0%	0%	$12,932,900
MAN	Mandrake Res Ltd	0.033	-3%	-13%	-1%	-8%	$20,956,597
FBM	Future Battery	0.093	-7%	-19%	4%	60%	$50,990,599
XTC	Xantippe Res Ltd	0.001	0%	-33%	0%	-76%	$17,528,005
LPM	Lithium Plus	0.5	49%	22%	13%	-13%	$32,334,218
KOB	Kobaresourceslimited	0.073	11%	-9%	-7%	-72%	$7,168,333
LRD	Lordresourceslimited	0.065	2%	-10%	-10%	-80%	$2,413,588
IEC	Intra Energy Corp	0.0035	-13%	-42%	0%	-42%	$6,643,126
REC	Rechargemetals	0.13	-13%	-26%	-1%	-19%	$15,589,276
SLM	Solismineralsltd	0.25	6%	-4%	18%	285%	$17,485,696
AZS	Azure Minerals	3.5	43%	33%	328%	1150%	$1,560,175,341
DYM	Dynamicmetalslimited	0.165	-3%	-20%	0%	0%	$5,775,000
TOR	Torque Met	0.205	28%	-41%	3%	11%	$26,548,502
SBR	Sabre Resources	0.04	14%	3%	0%	-20%	$13,991,337
ICL	Iceni Gold	0.066	2%	-14%	-1%	-7%	$13,911,714
TMX	Terrain Minerals	0.005	25%	25%	0%	-29%	$6,288,219
MHC	Manhattan Corp Ltd	0.005	0%	-29%	0%	-38%	$17,621,879
MHK	Metalhawk.	0.11	20%	10%	-6%	-41%	$7,877,101
NKL	Nickelxltd	0.058	7%	2%	-2%	-60%	$5,093,280
ANX	Anax Metals Ltd	0.035	0%	-10%	-2%	-40%	$15,046,637
PMT	Patriotbatterymetals	1.25	3%	2%	50%	0%	$466,061,008
BM8	Battery Age Minerals	0.25	19%	-4%	-25%	-50%	$21,392,853
L1M	Lightning Minerals	0.13	-10%	-4%	-4%	0%	$5,294,258
ADG	Adelong Gold Limited	0.0065	-7%	-7%	0%	-24%	$4,174,256
TOR	Torque Met	0.205	28%	-41%	3%	11%	$26,548,502
AL8	Alderan Resource Ltd	0.012	9%	20%	1%	50%	$7,400,336
OZM	Ozaurum Resources	0.081	-7%	-23%	2%	3%	$13,652,500
FL1	First Lithium Ltd	0.37	51%	106%	19%	106%	$21,015,500
PLN	Pioneer Lithium	0.29	0%	45%	0%	0%	$8,527,500
WYX	Western Yilgarn NL	0.075	-17%	-22%	-6%	-35%	$3,426,368
RDN	Raiden Resources Ltd	0.038	73%	23%	3%	344%	$91,098,742
PFE	Panteraminerals	0.062	0%	3%	-5%	-35%	$6,852,643
GRE	Greentechmetals	0.405	47%	1%	27%	153%	$22,731,555
OLY	Olympio Metals Ltd	0.15	-6%	-3%	1%	-12%	$9,539,925
SUM	Summitminerals	0.089	-3%	-26%	-6%	-48%	$4,289,141
JBY	James Bay Minerals	0.29	-3%	-19%	0%	0%	$9,571,275
SCN	Scorpion Minerals	0.055	-2%	2%	-2%	-21%	$20,108,959
JNO	Juno	0.08	3%	-4%	-2%	-15%	$11,123,956
CC9	Chariot Corporation	0.255	0%	0%	0%	0%	$18,699,550
OBM	Ora Banda Mining Ltd	0.16	39%	60%	8%	98%	$229,898,556