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Eye on Lithium: Cornell scientists develop cunning new geothermal lithium extraction tech
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- The Engineered Lithium Ion-Sieve Technology is a finalist in the DOE’s American Made Geothermal Lithium Extraction Prize
- Magnis Energy Technologies starts commercial production at NY battery plant
- 5E Advanced Materials nabs $60m cornerstone investment from Bluescape
All your ASX lithium news for Friday, August 12
Cornell University has developed an environmentally friendly method of extracting lithium – and it must have potential because they’re one of five finalists in the U.S. Department of Energy’s American-Made Geothermal Lithium Extraction Prize.
The researchers have pioneered “Engineered Lithium Ion-Sieve Technology,” which involves binding lithium to an ion sieve, stripping it from the cell using recycled acidic solutions, then applying electrochemistry to that lithium concentrate to produce lithium hydroxide.
During the final step, hydrogen and acids become the byproducts, and the hydrogen can be used for energy, while the acids can be looped back into the process for lithium stripping.
The extracted lithium is then used for energy storage.
Lithium is the new gold
Croll Sesquicentennial Fellow in Civil and Environmental Engineering assistant professor, Cornell Atkinson Center for Sustainability faculty fellow and team leader Greeshma Gadikota says that “lithium is the new gold.”
“Lithium’s value has surged in the past year,” she said.
“We cannot really talk about having a meaningful, clean energy transition without talking about critical metals – and lithium figures at the top of that list.”
Gadikota added that the contest opens up new possibilities for using regenerable materials and renewable electricity, and lithium recovery from geothermal sources.
“We want to tackle lithium recovery in an environmentally benign manner, while being cost competitive.”
While the contest is academic, inventive and scholarly, successful domestic lithium extraction methods could lead to an economic boom, with final results to be announced in 2023.
Here’s how ASX lithium stocks were tracking today:
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| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| AVW | Avira Resources Ltd | 0.004 | 33% | 33% | 33% | $6,356,370.00 |
| KTA | Krakatoa Resources | 0.074 | 48% | 48% | 28% | $19,993,175.19 |
| MNS | Magnis Energy Tech | 0.465 | 55% | 43% | 27% | $354,170,991.30 |
| EMH | European Metals Hldg | 1.005 | 55% | 41% | 18% | $101,746,815.60 |
| CY5 | Cygnus Gold Limited | 0.245 | 63% | 14% | 17% | $30,908,916.15 |
| GSM | Golden State Mining | 0.06 | 50% | 13% | 15% | $6,053,908.59 |
| SRZ | Stellar Resources | 0.018 | 0% | 9% | 13% | $13,428,842.02 |
| IR1 | Irismetals | 0.63 | 133% | 54% | 11% | $33,986,250.00 |
| PGD | Peregrine Gold | 0.9 | 114% | 114% | 10% | $31,395,327.70 |
| DRE | Dreadnought Resources Ltd | 0.091 | 102% | 30% | 10% | $252,405,784.73 |
| MQR | Marquee Resource Ltd | 0.094 | 36% | 32% | 9% | $27,143,111.88 |
| IMI | Infinitymining | 0.15 | 7% | 20% | 7% | $8,050,000.00 |
| AUN | Aurumin | 0.165 | 6% | 10% | 6% | $16,929,604.06 |
| ALY | Alchemy Resource Ltd | 0.018 | 6% | 20% | 6% | $16,202,258.97 |
| THR | Thor Mining PLC | 0.0095 | -14% | -5% | 6% | $9,680,079.51 |
| ZNC | Zenith Minerals Ltd | 0.31 | 29% | 7% | 5% | $101,704,872.31 |
| PAM | Pan Asia Metals | 0.47 | 22% | 21% | 4% | $33,264,108.90 |
| STM | Sunstone Metals Ltd | 0.048 | 7% | 2% | 4% | $119,436,535.27 |
| NVA | Nova Minerals Ltd | 0.845 | 17% | -5% | 4% | $146,864,862.28 |
| BYH | Bryah Resources Ltd | 0.029 | -17% | -6% | 4% | $6,333,800.90 |
| TUL | Tulla Resources | 0.535 | -2% | 0% | 3% | $83,312,773.44 |
| AX8 | Accelerate Resources | 0.037 | 32% | 3% | 3% | $9,736,520.36 |
| PLL | Piedmont Lithium Inc | 0.7825 | 48% | 19% | 2% | $403,591,662.00 |
| FTL | Firetail Resources | 0.26 | 27% | 4% | 2% | $15,754,537.50 |
| LIS | Lisenergylimited | 0.74 | 26% | -1% | 1% | $121,117,356.51 |
| FG1 | Flynngold | 0.089 | -32% | -10% | 1% | $5,637,372.40 |
| GL1 | Globallith | 1.895 | 69% | 26% | 1% | $299,146,212.56 |
| IGO | IGO Limited | 12.045 | 25% | 8% | 0% | $9,079,641,077.87 |
| RIO | Rio Tinto Limited | 95.31 | 0% | 0% | 0% | $35,369,480,869.92 |
| ADV | Ardiden Ltd | 0.009 | 29% | 13% | 0% | $24,015,018.20 |
| ASN | Anson Resources Ltd | 0.15 | 36% | 11% | 0% | $154,186,850.25 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203.44 |
| TKL | Traka Resources | 0.007 | 17% | 17% | 0% | $4,821,421.93 |
| CHR | Charger Metals | 0.54 | 13% | 10% | 0% | $17,593,758.90 |
| AAJ | Aruma Resources Ltd | 0.08 | 29% | 21% | 0% | $12,556,920.24 |
| DTM | Dart Mining NL | 0.08 | 23% | 10% | 0% | $10,820,812.80 |
| EMS | Eastern Metals | 0.165 | 10% | 14% | 0% | $6,378,281.25 |
| MMC | Mitremining | 0.115 | -12% | 0% | 0% | $3,114,786.50 |
| SHH | Shree Minerals Ltd | 0.01 | 11% | 11% | 0% | $12,384,868.92 |
| TMB | Tambourahmetals | 0.18 | 29% | 3% | 0% | $7,414,667.64 |
| TSC | Twenty Seven Co. Ltd | 0.003 | 50% | 0% | 0% | $7,982,441.72 |
| KGD | Kula Gold Limited | 0.027 | -2% | 9% | 0% | $5,809,742.06 |
| WR1 | Winsome Resources | 0.28 | 40% | 44% | 0% | $37,831,918.32 |
| MTM | Mtmongerresources | 0.12 | 0% | 20% | 0% | $4,501,203.96 |
| ENT | Enterprise Metals | 0.011 | 22% | 0% | 0% | $7,182,787.57 |
| KAI | Kairos Minerals Ltd | 0.031 | 41% | 7% | 0% | $60,886,898.22 |
| RMX | Red Mount Min Ltd | 0.007 | 40% | 17% | 0% | $11,496,547.01 |
| LSR | Lodestar Minerals | 0.009 | 50% | 29% | 0% | $15,645,936.13 |
| NWM | Norwest Minerals | 0.042 | 35% | -7% | 0% | $7,585,510.25 |
| AOA | Ausmon Resorces | 0.005 | -17% | 0% | 0% | $4,286,446.72 |
| VKA | Viking Mines Ltd | 0.008 | 33% | 14% | 0% | $8,202,067.45 |
| IPT | Impact Minerals | 0.008 | 14% | 0% | 0% | $19,850,964.45 |
| SRI | Sipa Resources Ltd | 0.044 | 10% | 10% | 0% | $9,021,091.33 |
| VMC | Venus Metals Cor Ltd | 0.175 | 6% | 0% | 0% | $28,013,769.53 |
| EVR | Ev Resources Ltd | 0.033 | 18% | 18% | 0% | $30,557,474.34 |
| WC8 | Wildcat Resources | 0.028 | 8% | 22% | 0% | $18,067,636.36 |
| M2R | Miramar | 0.099 | -1% | -6% | 0% | $6,354,479.64 |
| WMC | Wiluna Mining Corp | 0.205 | -5% | 0% | 0% | $74,238,030.68 |
| GW1 | Greenwing Resources | 0.285 | 33% | 33% | 0% | $35,125,494.47 |
| TYX | Tyranna Res Ltd | 0.039 | 105% | 26% | 0% | $59,762,066.01 |
| DAF | Discovery Alaska Ltd | 0.048 | 9% | 23% | 0% | $10,763,265.50 |
| DAL | Dalaroometalsltd | 0.099 | -29% | -10% | 0% | $2,957,625.00 |
| MIN | Mineral Resources. | 59.21 | 29% | 7% | 0% | $11,263,675,150.67 |
| AKE | Allkem Limited | 12.395 | 24% | 9% | 0% | $7,938,843,170.70 |
| PLS | Pilbara Min Ltd | 3.09 | 35% | 12% | -1% | $9,257,998,474.24 |
| INR | Ioneer Ltd | 0.695 | 48% | 13% | -1% | $1,468,693,853.20 |
| ESS | Essential Metals Ltd | 0.545 | 54% | 17% | -1% | $135,752,688.50 |
| GLN | Galan Lithium Ltd | 1.37 | 38% | 6% | -1% | $421,771,336.79 |
| RDT | Red Dirt Metals Ltd | 0.455 | 25% | 6% | -1% | $140,095,035.96 |
| AS2 | Askarimetalslimited | 0.425 | 73% | 27% | -1% | $19,379,786.10 |
| BMM | Balkanminingandmin | 0.1975 | 13% | -1% | -1% | $6,550,000.00 |
| MLS | Metals Australia | 0.073 | 52% | 30% | -1% | $42,034,678.13 |
| JRL | Jindalee Resources | 2.89 | 2% | 14% | -1% | $168,120,370.38 |
| SCN | Scorpion Minerals | 0.066 | -11% | 2% | -1% | $22,232,689.86 |
| LIT | Lithium Australia | 0.0845 | 14% | 14% | -2% | $89,045,201.95 |
| TON | Triton Min Ltd | 0.0275 | 62% | 2% | -2% | $35,245,956.96 |
| PNN | Power Minerals Ltd | 0.55 | 41% | 12% | -2% | $34,461,705.60 |
| KZR | Kalamazoo Resources | 0.27 | 20% | 13% | -2% | $39,928,452.85 |
| CXO | Core Lithium | 1.485 | 61% | 23% | -2% | $2,626,107,211.50 |
| GT1 | Greentechnology | 0.735 | 25% | 10% | -2% | $138,202,232.25 |
| RAG | Ragnar Metals Ltd | 0.047 | 18% | 9% | -2% | $18,200,874.67 |
| WES | Wesfarmers Limited | 47.03 | 6% | 0% | -2% | $54,481,023,628.10 |
| TEM | Tempest Minerals | 0.044 | -4% | 13% | -2% | $22,714,477.92 |
| AZI | Altamin Limited | 0.088 | -7% | -5% | -2% | $35,254,507.68 |
| VUL | Vulcan Energy | 9.4 | 74% | 22% | -3% | $1,387,485,713.68 |
| FRS | Forrestaniaresources | 0.165 | 10% | 6% | -3% | $5,284,671.68 |
| LLL | Leolithiumlimited | 0.495 | 10% | 4% | -3% | $503,195,025.12 |
| MXR | Maximus Resources | 0.062 | 29% | 15% | -3% | $20,345,969.15 |
| NMT | Neometals Ltd | 1.375 | 38% | 14% | -3% | $784,332,041.36 |
| INF | Infinity Lithium | 0.15 | 33% | 7% | -3% | $64,327,025.23 |
| LPD | Lepidico Ltd | 0.03 | 7% | 7% | -3% | $201,722,317.52 |
| AM7 | Arcadia Minerals | 0.15 | 0% | 11% | -3% | $7,238,173.26 |
| EUR | European Lithium Ltd | 0.089 | 39% | 9% | -3% | $128,822,004.10 |
| ZEO | Zeotech Limited | 0.059 | 23% | -5% | -3% | $93,019,843.67 |
| CRR | Critical Resources | 0.056 | 40% | 24% | -3% | $86,304,883.86 |
| ARN | Aldoro Resources | 0.27 | 69% | 35% | -4% | $27,884,448.76 |
| A8G | Australasian Metals | 0.27 | 29% | 13% | -4% | $11,527,738.32 |
| OCN | Oceanalithiumlimited | 0.53 | 49% | 23% | -4% | $18,438,750.00 |
| LEL | Lithenergy | 1.105 | 58% | 12% | -4% | $51,922,500.00 |
| PSC | Prospect Res Ltd | 0.115 | 136% | -15% | -4% | $55,471,135.44 |
| EPM | Eclipse Metals | 0.023 | 21% | -4% | -4% | $46,107,033.91 |
| AOU | Auroch Minerals Ltd | 0.068 | -7% | 11% | -4% | $26,248,827.73 |
| SYA | Sayona Mining Ltd | 0.2725 | 95% | 27% | -4% | $2,364,850,879.73 |
| MRR | Minrex Resources Ltd | 0.064 | 88% | 16% | -4% | $71,029,846.39 |
| AZL | Arizona Lithium Ltd | 0.105 | 24% | 40% | -5% | $264,541,811.71 |
| LRV | Larvottoresources | 0.2575 | 32% | 29% | -5% | $11,213,775.00 |
| QXR | Qx Resources Limited | 0.038 | 31% | 15% | -5% | $34,374,492.84 |
| LPI | Lithium Pwr Int Ltd | 0.64 | 51% | 19% | -5% | $235,672,772.40 |
| WML | Woomera Mining Ltd | 0.018 | 6% | 20% | -5% | $13,049,828.25 |
| TKM | Trek Metals Ltd | 0.07 | 25% | 17% | -5% | $22,985,151.10 |
| RLC | Reedy Lagoon Corp. | 0.017 | -6% | 21% | -6% | $10,033,684.42 |
| LTR | Liontown Resources | 1.6975 | 71% | 20% | -6% | $3,946,005,356.40 |
| BNR | Bulletin Res Ltd | 0.16 | 45% | 52% | -6% | $49,740,487.00 |
| AGY | Argosy Minerals Ltd | 0.4125 | 23% | 4% | -6% | $600,630,450.64 |
| AML | Aeon Metals Ltd. | 0.03 | 3% | 7% | -6% | $34,989,784.74 |
| G88 | Golden Mile Res Ltd | 0.03 | 3% | 11% | -6% | $6,519,443.65 |
| LRD | Lordresourceslimited | 0.22 | 10% | 7% | -6% | $7,469,385.94 |
| QPM | Queensland Pacific | 0.145 | 16% | -3% | -6% | $242,360,035.31 |
| MMG | Monger Gold Ltd | 0.29 | 32% | 26% | -6% | $12,412,400.00 |
| LNR | Lanthanein Resources | 0.028 | 87% | 27% | -7% | $28,884,767.10 |
| 1MC | Morella Corporation | 0.026 | 44% | 53% | -7% | $157,533,991.61 |
| WCN | White Cliff Min Ltd | 0.013 | -10% | 18% | -7% | $9,150,447.07 |
| CZL | Cons Zinc Ltd | 0.025 | 25% | 9% | -7% | $10,458,660.95 |
| RAS | Ragusa Minerals Ltd | 0.1525 | 75% | 96% | -8% | $20,746,465.74 |
| EFE | Eastern Resources | 0.034 | 26% | 26% | -8% | $36,937,067.85 |
| XTC | Xantippe Res Ltd | 0.01 | 25% | 25% | -9% | $88,616,992.34 |
| CAI | Calidus Resources | 0.69 | 12% | -4% | -10% | $311,990,682.87 |
| MM1 | Midasmineralsltd | 0.25 | 28% | 25% | -11% | $15,996,893.92 |
| LRS | Latin Resources Ltd | 0.1025 | 44% | 39% | -11% | $223,770,921.04 |
| LKE | Lake Resources | 1.415 | 110% | 58% | -11% | $2,216,628,770.07 |
| RGL | Riversgold | 0.038 | 36% | 36% | -16% | $34,701,114.69 |
Only 27 stocks were in the green, 37 were flat and 67 were red.
Who has news out today?
MAGNIS ENERGY TECHNOLOGIES (ASX:MNS)
Commercial production has commenced at the iM3NY New York Lithium-ion Battery Plant, with initial production of several thousand cells expected in the next month which will ramp up to 15,000 cells/day as production scales up to an annual production rate of 1.8GWh.
The first few weeks of production will be tested for quality assurance before sales start with first revenues expected in late September.
“With previously announced binding sales agreements, I look forward to updating the market as we move towards generating revenues and increasing the capacity of the plant to meet some of the huge demand currently experienced for Lithium-ion Batteries especially in the United States,” MNS chairman Frank Poullas says.
Future plans are to increase annual capacity to 38GWh by 2030, and with the significant investment required to meet the planned increase in capacity, ongoing talks continue with several groups including potential government funding.
5E ADVANCED MATERIALS (ASX:5EA)
The boron and lithium explorer says that US investor Bluescape will invest $60 million in 5E’s secured convertible notes.
This investment has introduced a cornerstone US strategic financial partner focused on power and energy transition, with 5EA expecting to leverage Bluescape’s substantial experience and relationships within the power and resources sectors, U.S. shareholder base, and federal government.
The company’s Small-Scale Boron Facility (SSBF) is on-schedule for mechanical completion in Q4 2022.
The current resource extension drilling program at Pioneer Dome is expected to wrap up in the next two weeks, with assays expected by the end of October.
“This drill programme has been very important in delineating potential extensions to the Cade and Davy deposits to determine the potential scale of a future mining operation and support detailed economic studies,” MD Tim Spencer said.
“Assay results will flow into an updated Mineral Resource and Scoping Study for Pioneer Dome, both scheduled for delivery in the December Quarter.”
Drafts of the current mineralisation report and supporting documents will soon be submitted to the Geological Survey of Western Australia (GSWA) for review, after which they’ll be submitted along with the Mining Lease application.
CALIDUS TECHNOLOGIES (ASX:CAI)
Calidus has received firm commitments for $20m following an institutional placement, which it says will enable the acceleration of lithium and gold exploration drilling.
On the lithium front, the proceeds will fund exploration at the Pirra Lithium Joint Venture and demerger costs – with a prospectus for the demerger expected to be lodged in Q4 CY22.
The company says its largest shareholder Alkane Resources (ASX:ALK) subscribed for $3m providing a strong endorsement of its strategy.
Mineralogical studies of Niobe and Wyemandoo samples by the University of Western Australia have revealed highly fractionated pegmatites and confirmed the presence of lithium and rubidium mineralisation.
The company says the results will be used to assess the areas of mineralisation potential and assist in developing the exploitable metallurgical properties in the recovery of metals from the ore.
Plus, the study is expected to aid in metallurgical processing studies by renowned specialist Professor Zhiguo He at China’s Central South University School of Minerals Processing and Bioengineering – which will commence shortly.
MNS, 5EA, ESS, CAI and ARN share prices today:
