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Mining
All your ASX lithium news for Thursday, August 18.
The lithium sector can’t seem to catch a break with China’s heatwave now expected to cause further havoc on the supply chain.
Lithium producers in the Sichuan province, home to factories of some of the world’s biggest companies and the producer of about half the country’s lithium, have either suspended production or lowered their operating rates in response to the power crunch, sources told Fastmarkets.
“We have halved our production due to the power rationing in Sichuan province,” a lithium producer source said.
Underlining the seriousness of the power crunch, a second lithium producer source in the province said: “The city where our factories are based have rarely experienced power shortages before – this is the first time that we have halted production due to power rationing.”
A third lithium producer source said: “Our production has been suspended since Monday August 15 and prior to this, we were required to stagger our electricity consumption.”
In an interview with Stockhead, VP Capital co-founder John So says in in the short term there will be a supply squeeze in terms of downstream lithium coming out of China, which will push up prices for processed lithium elsewhere in the world.
“This will also push up raw lithium prices because Sichuan is a mining hub for lithium in China – I don’t expect this to go on for months because by October the weather will reverse in the northern hemisphere,” he says.
“We will continue to see these sorts of outages in August and intermittently in September as well.
“Other provinces in China are also talking about potentially curbing power supply to some of the industrial companies and factories – so expect to see more of this over the next two months.
“Lithium is going to be in shortage in China, and all the data is indicating that electric vehicle demand is on the upside and is a lot stronger than what most may think despite what appears to be a general slower economic environment.
“With high unexpected demand and short-term supply crunch, we may see prices go up another 10 per cent in the next few weeks.”
| CODE | COMPANY | LAST | % MONTH | % WEEK | % TODAY | MARKET CAP |
|---|---|---|---|---|---|---|
| MMG | Monger Gold Ltd | 0.38 | 95% | 33% | 27% | $12,012,000 |
| DAF | Discovery Alaska Ltd | 0.084 | 87% | 75% | 22% | $15,472,194 |
| TSC | Twenty Seven Co. Ltd | 0.0035 | 17% | 17% | 17% | $7,982,442 |
| RMX | Red Mount Min Ltd | 0.007 | 17% | 8% | 17% | $9,854,183 |
| IR1 | Irismetals | 0.75 | 206% | 46% | 16% | $38,616,150 |
| IPT | Impact Minerals | 0.009 | 29% | 13% | 13% | $19,850,964 |
| TKM | Trek Metals Ltd | 0.077 | 40% | 18% | 10% | $21,742,711 |
| AM7 | Arcadia Minerals | 0.18 | 13% | 29% | 6% | $7,938,642 |
| SCN | Scorpion Minerals | 0.074 | 9% | 17% | 6% | $23,228,183 |
| LEL | Lithenergy | 1.035 | 53% | -2% | 6% | $44,247,000 |
| XTC | Xantippe Res Ltd | 0.0105 | 31% | -5% | 5% | $81,257,347 |
| RAG | Ragnar Metals Ltd | 0.046 | 18% | 0% | 5% | $16,684,135 |
| INF | Infinity Lithium | 0.145 | 26% | -3% | 4% | $58,101,829 |
| WC8 | Wildcat Resources | 0.029 | 16% | 0% | 4% | $18,067,636 |
| LNR | Lanthanein Resources | 0.032 | 113% | 10% | 3% | $29,847,593 |
| AML | Aeon Metals Ltd. | 0.034 | 21% | 17% | 3% | $36,083,216 |
| TMB | Tambourahmetals | 0.17 | 13% | 6% | 3% | $6,796,779 |
| G88 | Golden Mile Res Ltd | 0.035 | 25% | 13% | 3% | $6,926,909 |
| TYX | Tyranna Res Ltd | 0.037 | 85% | -3% | 3% | $55,164,984 |
| AX8 | Accelerate Resources | 0.038 | 31% | 0% | 3% | $10,006,979 |
| BMM | Balkan Mining and Min | 0.2 | 5% | 0% | 3% | $6,386,250 |
| LRD | Lord Resources limited | 0.21 | 5% | -19% | 2% | $6,515,847 |
| GL1 | Globallith | 1.835 | 78% | 0% | 2% | $285,656,861 |
| ARN | Aldoro Resources | 0.265 | 89% | -4% | 2% | $25,892,702 |
| JRL | Jindalee Resources | 2.77 | 12% | 5% | 1% | $156,644,577 |
| AOU | Auroch Minerals Ltd | 0.07 | 19% | 3% | 1% | $25,509,424 |
| M2R | Miramar | 0.1 | 11% | 0% | 1% | $6,354,480 |
| PNN | Power Minerals Ltd | 0.54 | 33% | -1% | 1% | $32,923,237 |
| ASN | Anson Resources Ltd | 0.15 | 36% | 0% | 0% | $154,186,850 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203 |
| TKL | Traka Resources | 0.007 | 40% | 0% | 0% | $4,821,422 |
| CHR | Charger Metals | 0.52 | 18% | -5% | 0% | $16,942,138 |
| AAJ | Aruma Resources Ltd | 0.07 | 13% | -11% | 0% | $10,987,305 |
| PAM | Pan Asia Metals | 0.465 | 21% | 6% | 0% | $34,372,913 |
| BYH | Bryah Resources Ltd | 0.028 | 0% | 0% | 0% | $7,819,097 |
| EMS | Eastern Metals | 0.15 | 0% | 7% | 0% | $5,798,438 |
| FG1 | Flynngold | 0.099 | -6% | 13% | 0% | $6,342,044 |
| FRS | Forrestaniaresources | 0.15 | 3% | -14% | 0% | $5,004,196 |
| IMI | Infinitymining | 0.16 | 19% | 19% | 0% | $9,200,000 |
| LRV | Larvottoresources | 0.24 | 30% | 0% | 0% | $9,967,800 |
| MMC | Mitremining | 0.115 | -8% | 0% | 0% | $3,114,787 |
| SHH | Shree Minerals Ltd | 0.009 | 0% | 13% | 0% | $11,146,382 |
| WCN | White Cliff Min Ltd | 0.012 | -8% | -8% | 0% | $7,843,240 |
| WML | Woomera Mining Ltd | 0.016 | 7% | -6% | 0% | $10,989,329 |
| KGD | Kula Gold Limited | 0.025 | -13% | -7% | 0% | $5,379,391 |
| WR1 | Winsome Resources | 0.255 | 46% | -6% | 0% | $34,454,068 |
| AZI | Altamin Limited | 0.083 | -14% | -6% | 0% | $32,512,490 |
| AVW | Avira Resources Ltd | 0.005 | 67% | 67% | 0% | $10,593,950 |
| NVA | Nova Minerals Ltd | 0.86 | 19% | 6% | 0% | $154,973,965 |
| A8G | Australasian Metals | 0.295 | 48% | 4% | 0% | $12,145,296 |
| SRZ | Stellar Resources | 0.017 | 6% | 6% | 0% | $14,268,145 |
| LSR | Lodestar Minerals | 0.007 | 8% | -13% | 0% | $12,169,061 |
| NWM | Norwest Minerals | 0.046 | 70% | 18% | 0% | $8,307,940 |
| AOA | Ausmon Resorces | 0.007 | 17% | 27% | 0% | $6,001,025 |
| VKA | Viking Mines Ltd | 0.007 | 0% | 0% | 0% | $7,176,809 |
| SRI | Sipa Resources Ltd | 0.044 | 26% | 0% | 0% | $9,021,091 |
| VMC | Venus Metals Cor Ltd | 0.165 | 3% | -6% | 0% | $26,412,983 |
| RAS | Ragusa Minerals Ltd | 0.185 | 143% | 85% | 0% | $23,261,189 |
| EPM | Eclipse Metals | 0.021 | 5% | -5% | 0% | $40,343,655 |
| THR | Thor Mining PLC | 0.009 | 0% | -5% | 0% | $9,680,080 |
| CZL | Cons Zinc Ltd | 0.023 | 28% | 5% | 0% | $8,909,230 |
| MXR | Maximus Resources | 0.055 | 20% | -5% | 0% | $17,539,817 |
| MM1 | Midasmineralsltd | 0.255 | 46% | 13% | 0% | $14,568,600 |
| WMC | Wiluna Mining Corp | 0.205 | 8% | 0% | 0% | $74,238,031 |
| ZEO | Zeotech Limited | 0.063 | 40% | 9% | 0% | $96,069,675 |
| GW1 | Greenwing Resources | 0.26 | 8% | -7% | 0% | $32,044,311 |
| FTL | Firetail Resources | 0.24 | 20% | 0% | 0% | $14,827,800 |
| DAL | Dalaroometalsltd | 0.099 | -1% | 0% | 0% | $2,957,625 |
| CY5 | Cygnus Gold Limited | 0.23 | 59% | 18% | 0% | $33,852,622 |
| TUL | Tulla Resources | 0.52 | -2% | 3% | 0% | $83,312,773 |
| RIO | Rio Tinto Limited | 96.6 | 4% | -3% | 0% | $35,911,456,542 |
| RDT | Red Dirt Metals Ltd | 0.4725 | 43% | 13% | -1% | $144,663,352 |
| IGO | IGO Limited | 12.11 | 31% | 3% | -1% | $9,231,094,640 |
| CAI | Calidus Resources | 0.645 | 6% | -16% | -1% | $265,155,123 |
| ESS | Essential Metals Ltd | 0.465 | 31% | -8% | -1% | $116,006,843 |
| AKE | Allkem Limited | 12.17 | 25% | 1% | -1% | $7,849,571,039 |
| WES | Wesfarmers Limited | 48.38 | 5% | 3% | -1% | $55,524,156,651 |
| AGY | Argosy Minerals Ltd | 0.37 | 16% | -12% | -1% | $511,900,952 |
| CXO | Core Lithium | 1.41 | 58% | -2% | -1% | $2,478,767,863 |
| INR | Ioneer Ltd | 0.69 | 59% | 1% | -1% | $1,468,693,853 |
| MIN | Mineral Resources. | 59.65 | 38% | 2% | -1% | $11,462,546,160 |
| NMT | Neometals Ltd | 1.3325 | 42% | -2% | -2% | $748,429,518 |
| MLS | Metals Australia | 0.058 | 26% | -5% | -2% | $33,514,135 |
| GSM | Golden State Mining | 0.057 | 36% | 13% | -2% | $6,752,437 |
| KAI | Kairos Minerals Ltd | 0.0285 | 36% | -14% | -2% | $56,958,711 |
| LTR | Liontown Resources | 1.69 | 78% | -2% | -2% | $3,775,922,701 |
| LLL | Leolithiumlimited | 0.545 | 27% | 10% | -2% | $547,594,586 |
| 1MC | Morella Corporation | 0.0255 | 50% | 28% | -2% | $147,581,564 |
| KZR | Kalamazoo Resources | 0.255 | 9% | -7% | -2% | $37,750,537 |
| PLS | Pilbara Min Ltd | 3.055 | 28% | 3% | -2% | $9,287,766,958 |
| STM | Sunstone Metals Ltd | 0.047 | 12% | 7% | -2% | $124,629,428 |
| LIS | Lisenergylimited | 0.64 | 8% | -10% | -2% | $108,673,792 |
| EUR | European Lithium Ltd | 0.084 | 24% | -7% | -2% | $120,420,569 |
| TEM | Tempest Minerals | 0.042 | -7% | -7% | -2% | $21,704,946 |
| EMH | European Metals Hldg | 0.86 | 31% | 10% | -3% | $105,936,390 |
| SYA | Sayona Mining Ltd | 0.2525 | 87% | -5% | -3% | $2,157,407,820 |
| EVR | Ev Resources Ltd | 0.033 | 18% | 3% | -3% | $31,483,458 |
| QPM | Queensland Pacific | 0.15 | 20% | 3% | -3% | $242,360,035 |
| ZNC | Zenith Minerals Ltd | 0.3 | 18% | 2% | -3% | $106,876,306 |
| AUN | Aurumin | 0.15 | 3% | 0% | -3% | $16,929,604 |
| TON | Triton Min Ltd | 0.029 | 93% | 7% | -3% | $37,763,525 |
| CRR | Critical Resources | 0.055 | 41% | 2% | -4% | $84,816,869 |
| MNS | Magnis Energy Tech | 0.41 | 41% | 19% | -4% | $412,390,880 |
| LKE | Lake Resources | 1.22 | 102% | -8% | -4% | $1,758,151,656 |
| MRR | Minrex Resources Ltd | 0.053 | 71% | -5% | -4% | $58,980,059 |
| MQR | Marquee Resource Ltd | 0.078 | 18% | -6% | -4% | $25,565,024 |
| LIT | Lithium Australia | 0.075 | 6% | -9% | -4% | $80,761,927 |
| MTM | Mtmongerresources | 0.12 | 0% | 0% | -4% | $4,688,754 |
| LPI | Lithium Pwr Int Ltd | 0.58 | 45% | -3% | -4% | $211,232,633 |
| LRS | Latin Resources Ltd | 0.115 | 69% | 25% | -4% | $233,500,092 |
| PLL | Piedmont Lithium Inc | 0.905 | 87% | 27% | -4% | $498,554,406 |
| DTM | Dart Mining NL | 0.0765 | 18% | 18% | -4% | $10,820,813 |
| GLN | Galan Lithium Ltd | 1.28 | 32% | -3% | -4% | $408,067,575 |
| PSC | Prospect Res Ltd | 0.105 | 115% | -19% | -5% | $50,848,541 |
| ENT | Enterprise Metals | 0.01 | 0% | -17% | -5% | $6,856,297 |
| KTA | Krakatoa Resources | 0.059 | 16% | 9% | -5% | $21,372,015 |
| RGL | Riversgold | 0.038 | 41% | 9% | -5% | $30,845,435 |
| ALY | Alchemy Resource Ltd | 0.018 | 13% | 20% | -5% | $18,108,407 |
| AZL | Arizona Lithium Ltd | 0.089 | 5% | -1% | -5% | $226,251,003 |
| AS2 | Askarimetalslimited | 0.35 | 67% | -11% | -5% | $16,675,630 |
| GT1 | Greentechnology | 0.7 | 17% | 1% | -5% | $136,359,536 |
| ADV | Ardiden Ltd | 0.0085 | 42% | -6% | -6% | $24,015,018 |
| PGD | Peregrine Gold | 0.84 | 89% | 11% | -6% | $34,231,597 |
| DRE | Dreadnought Resources Ltd | 0.099 | 115% | 16% | -6% | $319,308,523 |
| VUL | Vulcan Energy | 8.16 | 41% | -8% | -6% | $1,244,150,413 |
| QXR | Qx Resources Limited | 0.031 | 15% | -16% | -6% | $28,358,957 |
| RLC | Reedy Lagoon Corp. | 0.015 | -21% | -6% | -6% | $8,918,831 |
| LPD | Lepidico Ltd | 0.029 | 7% | 0% | -6% | $201,722,928 |
| EFE | Eastern Resources | 0.029 | 16% | -12% | -6% | $30,947,273 |
| BNR | Bulletin Res Ltd | 0.135 | 17% | 4% | -7% | $42,425,710 |
| OCN | Oceanalithiumlimited | 0.6 | 60% | 21% | -8% | $21,958,875 |
A total of 60 companies ended in the red today, 43 fell flat and just 28 made it to the green.
TYX has completed the acquisition of 80% of the issued capital and 100% of the issued options of Angolan Minerals as well as appointing two new executive directors to the team – Paul Williams and Peter Spitalny.
TYX director Joe Graziano says the company looks forward to the exciting road ahead as it explores the potential of the Giraul Pegmatite Field in Namibe.
“We have seen some very positive signs from the initial exploration activity undertaken by Angolan Minerals and to that end, we will update the market in relation to outstanding assay results as soon as those results have been received and verified.
“It is anticipated that this will be prior to the end of August – for now, we will be progressing towards a maiden drilling program to test the potential of selected areas at depth.”
IR1 is now the largest holder of lithium mining claims in South Dakota, USA after increasing its footprint by 290%.
With about 42,287 acres up its sleeve, the company has secured highly mineralised corridors of spodumene bearing lithium-cesium-tantalum pegmatites in the Black Hills – famous for its historic lithium producing mines containing some of the largest spodumene crystals on record.
“The company now has a great mix of drill-ready targets and extensive prospective corridors over known lithium bearing LCT pegmatites,” executive technical director and head of exploration Chris Connell says.
“I am currently on site, directing and supervising the staking and exploration activities over an area that is exhibiting regional scale lithium potential.”
A 2,000m reverse circulation (RC) drilling program will kick off during the first half of September at the Trigg Hill and East Curlew prospects in the Pilbara.
The aim is to test a number of vertical and low angle lithium caesium and tantalum (LCT), pegmatites to obtain an understanding of zonation and lithium mineralisation.
Site preparation works commenced on August 17 and are expected to complete by next week with 30 drill pads for the upcoming drilling program.
PX Drilling has been secured to carry out the initial program and are expected to mobilise at site in early September.
Mapping and rock chip sampling will continue in areas previously not covered.
Pan Asia is already eyeing upgrades to its less than two-month old inaugural Reung Kiet lithium resource after receiving more positive drilling results.
Assays from a further four infill holes (RKDD058-61) returned strong lithium results which supports the company’s geological model of extensive lithium mineralisation hosted in lepidolite rich pegmatite dykes-veins and adjacent metasediments.
Highlights include 8.5m grading 1.03% Li2O from a down-hole depth of 29m in RKDD059, 12.7m at 0.47% Li20 from 16.3m in RKDD061 and 3.45m at 1.62% Li2O from just 4.55m in RKDD058.
These results rather neatly support and enhance the current Inferred resource of 10.4Mt grading 0.44% Li2O, 0.04% tin, 0.009% tantalum, 0.16% rubidium and 0.02% caesium, or about 113,000t of lithium carbonate equivalent, so an upgrade to higher confidence Indicated resources might be on the cards.
This Torian Resources (ASX:TNR) spin-off has secured an option to acquire the Brisk Lithium project in the prolific James Bay lithium district of Quebec, which is emerging as the hard rock capital of North America.
Covering six prospects over some 98.5km2, the Brisk project is host to several known pegmatite outcrops and is within close proximity to the La Grande Complex – one of the world’s largest hydroelectric developments providing carbon free energy for future mine development.
Four large and significant soil geochemistry anomalies for a range of battery metals and precious metals have been identified at IPT’s 100% owned Beau Project, part of the greater ArkunBeau-Jumbo project area in Western Australia’s southwest.
Two of these are lithium-caesium-tantalum anomalies, each about 1km in dimension and may be part of a large zoned intrusive pegmatite system.
Follow-up field checking will begin later this month in order to define targets for first-pass drilling and to identify the bedrock which is mostly obscured by laterite.
MCT has secured the highly prospective Mt Surprise Lithium Project, roughly 57km northeast of the town of Mt Surprise in Queensland.
A historic rock chip sample returned 3.55% Li2O, 125ppm tantalum, 0.25% caesium and 1.26% Rubidium highlighting the significant potential of the ground, which remains sparsely explored.
Work by previous explorers suggests that high grade lithium occurs at the contact between granite and volcanic rocks on the project and the company plans to undertake a thorough field review of the Mt Surprise area.
This includes detailed mapping and collection of rock chip and soil samples targeting new pegmatites and lithium mineralisation across the extensive land holding.
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