Pic: MEVCO
Mining
All your lithium news on Wednesday, January 18.
Lithium could be making its way back to the mines they were pulled from in the form of lithium-ion batteries with a company called Mevco making a commitment to order 8,500 all-electric Hilux and Landcruiser models over the next five years.
In a new partnership with Aussie company Sea Electric, specialist all-electric Hilux and Landcruiser models will made available for the mining industry. So far, over half of the 2023 allocation of the battery-electric vehicles have been pre-sold, with demonstration models available in Melbourne, Brisbane and Perth.
Mevco CEO Matt Cahir says the deal, which has a total value of close to A$1bn, is a pivotal step for the mining industry.
“This enables EV technology for heavy and light commercial trucks to be commercialized on a scale that makes sense for the bespoke needs of the mining sector.”
At the heart of the arrangement is SEA Electric’s proprietary SEA-Drive power-system, which provides the all-electric range with zero local emissions of carbon dioxide, methane, or nitrous oxide.
Thanks to its medium voltage architecture and electronic thermal management, SEA Electric says its solution is light, cost‐effective, and efficient, with the system tested in the field across eight countries with more than 2.5mn kilometres of real-world use registered to date.
The vehicles can also be specified with two SEA-Drive options, namely an 88kWh battery which provides 380km of range, or a 60kWh battery delivering up to 260km of use.
| CODE | COMPANY | PRICE | % TODAY | 1 WEEK RETURN % | 1 MONTH RETURN % | 6 MONTH RETURN % | 1 YEAR RETURN % | MARKET CAP |
|---|---|---|---|---|---|---|---|---|
| RMX | Red Mount Min Ltd | 0.005 | 25% | 11% | 0% | -17% | -58% | $7,953,395 |
| CMD | Cassius Mining Ltd | 0.023 | 15% | 10% | 0% | 0% | 5% | $8,169,858 |
| TKL | Traka Resources | 0.008 | 14% | 0% | -11% | 60% | -50% | $5,059,422 |
| CAI | Calidus Resources | 0.4175 | 11% | 16% | 58% | -32% | -42% | $164,394,158 |
| LSR | Lodestar Minerals | 0.0055 | 10% | 10% | 0% | -15% | -54% | $8,692,187 |
| TMB | Tambourahmetals | 0.12 | 9% | 9% | -4% | -20% | -58% | $4,531,186 |
| SYA | Sayona Mining Ltd | 0.2425 | 8% | 8% | 15% | 80% | 62% | $1,954,515,395 |
| FTL | Firetail Resources | 0.15 | 7% | -9% | 3% | -25% | 0% | $9,100,000 |
| LPD | Lepidico Ltd | 0.016 | 7% | 0% | 14% | -40% | -63% | $114,566,568 |
| EVR | Ev Resources Ltd | 0.016 | 7% | 7% | 0% | -43% | -79% | $13,934,761 |
| WC8 | Wildcat Resources | 0.032 | 7% | 7% | 23% | 28% | -18% | $19,860,682 |
| FRS | Forrestaniaresources | 0.17 | 6% | 3% | 36% | 17% | -60% | $9,742,608 |
| WR1 | Winsome Resources | 1.87 | 6% | 2% | 87% | 969% | 290% | $248,321,417 |
| WML | Woomera Mining Ltd | 0.019 | 6% | 6% | -5% | 28% | 1% | $17,210,902 |
| TUL | Tulla Resources | 0.38 | 6% | 12% | 17% | -28% | -31% | $76,625,442 |
| FG1 | Flynngold | 0.099 | 5% | 6% | -10% | -1% | -41% | $7,362,412 |
| LNR | Lanthanein Resources | 0.022 | 5% | 0% | -12% | 47% | -8% | $20,613,087 |
| QPM | Queensland Pacific | 0.115 | 5% | 0% | 0% | -8% | -43% | $192,098,271 |
| RDT | Red Dirt Metals Ltd | 0.48 | 4% | 2% | 10% | 45% | -36% | $191,643,279 |
| KAI | Kairos Minerals Ltd | 0.025 | 4% | 9% | 14% | 19% | -24% | $47,138,244 |
| LLI | Loyal Lithium Ltd | 0.375 | 4% | 7% | 23% | 92% | 53% | $18,896,400 |
| VSR | Voltaic Strategic | 0.026 | 4% | 13% | 18% | 30% | 30% | $7,660,766 |
| CXO | Core Lithium | 1.06 | 4% | -7% | 0% | 18% | 20% | $1,883,822,212 |
| EMH | European Metals Hldg | 0.695 | 4% | 5% | 1% | 6% | -52% | $84,310,464 |
| DTM | Dart Mining NL | 0.056 | 4% | -10% | -7% | -14% | -42% | $8,403,510 |
| VMC | Venus Metals Cor Ltd | 0.145 | 4% | 12% | 12% | -9% | -19% | $24,931,016 |
| RGL | Riversgold | 0.029 | 4% | 4% | 0% | 7% | 68% | $26,473,096 |
| GLN | Galan Lithium Ltd | 1.2 | 3% | 4% | 10% | 24% | -35% | $355,913,797 |
| CZL | Cons Zinc Ltd | 0.0175 | 3% | 9% | -3% | -3% | -38% | $8,200,083 |
| M2R | Miramar | 0.078 | 3% | -3% | -4% | -13% | -55% | $5,371,812 |
| QXR | Qx Resources Limited | 0.05 | 2% | 4% | 9% | 85% | 14% | $43,946,254 |
| ESS | Essential Metals Ltd | 0.51 | 2% | 5% | 46% | 44% | -11% | $133,533,347 |
| LEL | Lithenergy | 0.8 | 2% | 0% | 5% | 19% | -37% | $47,217,750 |
| LKE | Lake Resources | 0.825 | 2% | -1% | -2% | 36% | -13% | $1,128,063,142 |
| GW1 | Greenwing Resources | 0.33 | 2% | 16% | 22% | 38% | -34% | $48,119,131 |
| AZL | Arizona Lithium Ltd | 0.067 | 2% | -1% | 8% | -21% | -48% | $161,205,306 |
| RIO | Rio Tinto Limited | 121.735 | 1% | 3% | 6% | 31% | 11% | $44,794,660,543 |
| AOU | Auroch Minerals Ltd | 0.058 | 1% | 16% | 12% | -2% | -55% | $24,601,095 |
| WES | Wesfarmers Limited | 49.325 | 0% | 5% | 5% | 7% | -11% | $55,690,368,188 |
| AGY | Argosy Minerals Ltd | 0.6325 | 0% | -2% | 8% | 98% | 52% | $884,776,724 |
| GT1 | Greentechnology | 0.8875 | 0% | -3% | 15% | 48% | -17% | $168,803,478 |
| MIN | Mineral Resources. | 87.44 | 0% | 3% | 8% | 102% | 35% | $16,586,798,220 |
| ADV | Ardiden Ltd | 0.008 | 0% | 0% | 0% | 33% | -53% | $21,506,683 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | 0% | -10% | $2,752,409,203 |
| EUR | European Lithium Ltd | 0.085 | 0% | 6% | 18% | 25% | -39% | $123,185,330 |
| LIT | Lithium Australia | 0.048 | 0% | -4% | 7% | -32% | -63% | $58,617,200 |
| MLS | Metals Australia | 0.047 | 0% | -4% | -2% | 2% | 18% | $28,530,701 |
| RLC | Reedy Lagoon Corp. | 0.01 | 0% | 0% | -9% | -47% | -77% | $5,667,196 |
| ARN | Aldoro Resources | 0.23 | 0% | -12% | 5% | 64% | -43% | $25,969,833 |
| CHR | Charger Metals | 0.43 | 0% | -9% | -12% | -2% | -41% | $18,797,178 |
| AAJ | Aruma Resources Ltd | 0.08 | 0% | 51% | 19% | 29% | -5% | $12,556,920 |
| AM7 | Arcadia Minerals | 0.22 | 0% | -8% | 0% | 38% | -23% | $10,273,536 |
| EMS | Eastern Metals | 0.088 | 0% | 17% | 10% | -41% | -65% | $3,437,668 |
| LRV | Larvottoresources | 0.18 | 0% | 6% | 3% | -3% | -3% | $12,105,850 |
| MMC | Mitremining | 0.285 | 0% | 6% | 6% | 128% | 43% | $7,719,254 |
| RAG | Ragnar Metals Ltd | 0.013 | 0% | -7% | -19% | -67% | -73% | $4,929,404 |
| EMC | Everest Metals Corp | 0.105 | 0% | 33% | 24% | 0% | -25% | $11,175,476 |
| CRR | Critical Resources | 0.043 | 0% | 2% | -4% | 10% | -53% | $68,384,303 |
| KGD | Kula Gold Limited | 0.027 | 0% | 4% | -4% | -6% | -47% | $9,752,722 |
| LRS | Latin Resources Ltd | 0.12 | 0% | 4% | 14% | 76% | 216% | $264,203,250 |
| KZR | Kalamazoo Resources | 0.21 | 0% | -11% | -7% | -11% | -41% | $31,252,069 |
| MTM | Mtmongerresources | 0.081 | 0% | 5% | 1% | -33% | -46% | $4,618,962 |
| SCN | Scorpion Minerals | 0.072 | 0% | 3% | 0% | 6% | 3% | $24,890,846 |
| AZI | Altamin Limited | 0.085 | 0% | 10% | -6% | -11% | 23% | $33,295,924 |
| ENT | Enterprise Metals | 0.01 | 0% | 11% | 11% | 0% | -33% | $7,050,807 |
| AVW | Avira Resources Ltd | 0.003 | 0% | 0% | 0% | 0% | -40% | $6,401,370 |
| BNR | Bulletin Res Ltd | 0.105 | 0% | 0% | 9% | -9% | -5% | $30,722,066 |
| MRR | Minrex Resources Ltd | 0.04 | 0% | 8% | 29% | 29% | -31% | $43,394,700 |
| A8G | Australasian Metals | 0.2 | 0% | -5% | -11% | 0% | -69% | $8,234,099 |
| EFE | Eastern Resources | 0.018 | 0% | -33% | -36% | -28% | -76% | $21,070,241 |
| SRZ | Stellar Resources | 0.015 | 0% | 15% | 15% | -6% | -32% | $15,069,464 |
| AOA | Ausmon Resorces | 0.006 | 0% | 0% | -14% | 0% | -14% | $5,143,736 |
| VKA | Viking Mines Ltd | 0.007 | 0% | -13% | -36% | 0% | -53% | $7,176,809 |
| IPT | Impact Minerals | 0.01 | 0% | 43% | 43% | 43% | -21% | $24,813,706 |
| ZNC | Zenith Minerals Ltd | 0.25 | 0% | -2% | -6% | -2% | -36% | $87,828,645 |
| RAS | Ragusa Minerals Ltd | 0.12 | 0% | 0% | 4% | 58% | 36% | $17,111,854 |
| MNS | Magnis Energy Tech | 0.43 | 0% | 12% | 9% | 48% | -20% | $417,242,538 |
| THR | Thor Mining PLC | 0.006 | 0% | -14% | -14% | -33% | -50% | $8,731,877 |
| MM1 | Midasmineralsltd | 0.18 | 0% | -10% | -5% | 3% | -10% | $10,283,718 |
| XTC | Xantippe Res Ltd | 0.006 | 0% | 20% | 0% | -25% | -45% | $61,752,208 |
| LRD | Lordresourceslimited | 0.19 | 0% | -5% | -5% | -5% | 0% | $6,324,078 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | 0% | 0% | 8% | -79% | $74,238,031 |
| ALY | Alchemy Resource Ltd | 0.018 | 0% | -28% | -18% | 13% | 50% | $21,205,373 |
| KTA | Krakatoa Resources | 0.041 | 0% | -7% | -18% | -20% | -15% | $14,133,107 |
| TYX | Tyranna Res Ltd | 0.023 | 0% | -8% | -4% | 15% | 283% | $55,324,782 |
| DAF | Discovery Alaska Ltd | 0.026 | 0% | -10% | -19% | -42% | -13% | $5,830,102 |
| IR1 | Irismetals | 1.16 | 0% | 0% | -11% | 373% | 84% | $72,766,800 |
| DAL | Dalaroometalsltd | 0.09 | 0% | -14% | -18% | -10% | -42% | $2,688,750 |
| CY5 | Cygnus Gold Limited | 0.4 | 0% | -13% | 3% | 176% | 122% | $73,549,685 |
| LLO | Lion One Metals Ltd | 1.125 | 0% | -2% | 22% | -27% | -4% | $13,013,223 |
| PAT | Patriot Lithium | 0.29 | 0% | -8% | 0% | 0% | 0% | $16,809,126 |
| PLL | Piedmont Lithium Inc | 0.8625 | 0% | 15% | 10% | 78% | 19% | $366,292,900 |
| LTR | Liontown Resources | 1.49 | 0% | 4% | -3% | 57% | -10% | $3,283,670,848 |
| LLL | Leolithiumlimited | 0.5575 | 0% | 4% | 17% | 30% | 0% | $552,527,871 |
| INR | Ioneer Ltd | 0.5275 | 0% | 23% | 12% | 21% | -35% | $1,112,119,282 |
| GL1 | Globallith | 2.185 | -1% | 9% | 15% | 112% | 46% | $468,981,163 |
| VUL | Vulcan Energy | 7.01 | -1% | 0% | 4% | 21% | -28% | $1,012,653,225 |
| NVA | Nova Minerals Ltd | 0.68 | -1% | -4% | 10% | -6% | -37% | $143,887,080 |
| PLS | Pilbara Min Ltd | 4.035 | -1% | 4% | -2% | 70% | 7% | $12,201,735,824 |
| LPI | Lithium Pwr Int Ltd | 0.475 | -1% | 9% | 6% | 19% | -40% | $301,966,829 |
| AKE | Allkem Limited | 12.15 | -1% | 2% | -2% | 24% | 7% | $7,836,817,877 |
| ASN | Anson Resources Ltd | 0.1875 | -1% | -9% | -4% | 70% | 14% | $223,868,435 |
| JRL | Jindalee Resources | 1.85 | -1% | -2% | -9% | -25% | -33% | $107,585,561 |
| SGQ | St George Min Ltd | 0.072 | -1% | 1% | 4% | 112% | -4% | $60,932,380 |
| IGO | IGO Limited | 14.41 | -1% | 4% | 4% | 56% | 14% | $11,071,255,426 |
| NWM | Norwest Minerals | 0.066 | -1% | 40% | 32% | 144% | -1% | $14,881,195 |
| AUN | Aurumin | 0.064 | -2% | 2% | -12% | -56% | -62% | $11,554,588 |
| PSC | Prospect Res Ltd | 0.1225 | -2% | 7% | 2% | 151% | 181% | $57,782,433 |
| PGD | Peregrine Gold | 0.49 | -2% | 7% | -14% | 10% | -34% | $19,375,945 |
| GSM | Golden State Mining | 0.046 | -2% | -6% | 0% | 10% | -54% | $5,499,668 |
| OCN | Oceanalithiumlimited | 0.45 | -2% | 2% | 13% | 20% | 0% | $16,750,440 |
| LIS | Lisenergylimited | 0.365 | -3% | -1% | 3% | -38% | -73% | $62,217,820 |
| TON | Triton Min Ltd | 0.036 | -3% | -5% | 0% | 140% | 6% | $51,163,015 |
| TKM | Trek Metals Ltd | 0.072 | -3% | -9% | -5% | 31% | -24% | $26,931,936 |
| NMT | Neometals Ltd | 0.89 | -3% | -1% | 0% | -5% | -44% | $505,758,176 |
| AS2 | Askarimetalslimited | 0.675 | -3% | 10% | 111% | 221% | 125% | $34,290,690 |
| DRE | Dreadnought Resources Ltd | 0.094 | -3% | -3% | 3% | 104% | 127% | $299,703,637 |
| AX8 | Accelerate Resources | 0.027 | -4% | 8% | -7% | -7% | -39% | $10,572,849 |
| TEM | Tempest Minerals | 0.027 | -4% | 0% | 13% | -40% | 4% | $14,133,453 |
| IMI | Infinitymining | 0.26 | -4% | 0% | -9% | 93% | 28% | $20,649,146 |
| BYH | Bryah Resources Ltd | 0.025 | -4% | -4% | -7% | -11% | -58% | $7,312,590 |
| INF | Infinity Lithium | 0.12 | -4% | 4% | -17% | 4% | -43% | $57,824,012 |
| G88 | Golden Mile Res Ltd | 0.023 | -4% | 10% | 5% | -18% | -49% | $4,910,154 |
| STM | Sunstone Metals Ltd | 0.042 | -5% | 11% | 5% | 0% | -60% | $115,299,642 |
| MXR | Maximus Resources | 0.042 | -5% | 2% | -2% | -9% | -43% | $14,038,454 |
| PNN | Power Minerals Ltd | 0.515 | -5% | -8% | 6% | 27% | 0% | $39,012,204 |
| EPM | Eclipse Metals | 0.02 | -5% | -17% | 43% | 0% | -61% | $42,589,256 |
| PAM | Pan Asia Metals | 0.38 | -5% | -4% | -10% | -1% | -44% | $58,742,236 |
| CTN | Catalina Resources | 0.0085 | -6% | 6% | -6% | -6% | -50% | $11,146,382 |
| A11 | Atlantic Lithium | 0.635 | -6% | 1% | 6% | 0% | 0% | $408,875,621 |
| 1MC | Morella Corporation | 0.015 | -6% | 0% | 0% | -12% | -29% | $97,577,287 |
| BMM | Balkanminingandmin | 0.29 | -6% | -9% | -15% | 53% | -45% | $13,879,324 |
| AML | Aeon Metals Ltd. | 0.028 | -7% | 4% | -3% | 0% | -30% | $32,892,019 |
| ZEO | Zeotech Limited | 0.042 | -7% | 5% | -18% | -7% | -48% | $73,831,755 |
| MQR | Marquee Resource Ltd | 0.041 | -7% | 17% | 14% | -38% | -71% | $14,397,130 |
| WCN | White Cliff Min Ltd | 0.013 | -7% | 0% | -7% | 0% | -54% | $10,545,993 |
| SRI | Sipa Resources Ltd | 0.034 | -21% | 10% | -3% | -3% | -32% | $9,760,394 |
A total of 38 stocks finished in the green, 57 fell flat, and 42 clocked off in the red.
AKE, the holder of a 10pc market share in global lithium raw material supply, has reported strong results for the December quarter despite operational issues.
Allkem produced 16,404 dry metric tonnes of spodumene from its Mt Cattlin mine in WA in the December quarter, shipping 15,702dmt at a gross cash margin of 72% on prices of US$5284/dmt for 5.3% spodumene concentrate. That’s US$6000/dmt on a 6% basis, up 5% on the prior quarter.
At its Olaroz brine operations in Argentina, Allkem delivered a record 4253t of lithium carbonate, up 17% on December 2021, with half-year production of 7542t 13% higher than the previous record in 2019.
Its 3131t of sales traded at a third party price of US$53,013/t, up 23% on the September quarter, delivering record quarterly revenue of US$151m and a gross cash margin of 90%.
Also banking US$32m from the sale of low grade concentrate at Mt Cattlin, Allkem has defied market bearishness to predict robust EV sales growth based on its strong order books and “potential pent up demand.”
NOW READ: Don’t cry for Allkem, the Argentine and Aussie lithium miner whose prices still sing
Rock chip results of up to 3.3% Li2O, 80m southwest of the Pontax Lithium Project, have expanded the known strike length to 700m, remaining open in all directions.
At the adjacent Pontax North target, rock chips over a large surface area revealed spodumene-bearing pegmatites with high grade results of 2.5% Li2O, 1.4% Li2O and 1.3% Li2O.
“This confirms the potential for a replication of Pontax Central to the north,” the company says.
CY5 says a 10,000m drill program is ongoing at Pontax with two more rigs (three in total) due to arrive this month to focus on step out drilling and discovery.
The program is focused on delivering a maiden resource for mid-2023.
A drill rig has been secured with Topdrill for the second lithium-focused drill program at Forrestania’s flagship project of the same name.
FRS says the rig will be mobilised in the fourth week of January and will carry out a 5,000m program testing targets at four prospects – Giant Pegmatite, South Iron Cap East, Gemcutter, and Bounty East.
“With regional infrastructure and processing options even a modest discovery can be very profitably developed,” FRS chairman and interm CEO John Hannaford explains.
“It continues to be an exciting time for our shareholders.”
Red Mountain has reinforced its belief in the lithium prospectivity of its Nevada assets by substantially expanding the footprint of its Mustang project.
The company successfully lodged its application for 102 additional claims that are contiguous with project with the Nevada Bureau of Land Management and expects them to be granted shortly.Once granted, they will take the total area covered by Mustang up to 1,069.7 hectares in 140 lode claims.
A 3,000m reverse circulation drilling program has started across high-priority targets at AOU’s Kangaroo Hills Lithium Project in Western Australia.
The project is targeting a 2.37% Li2O outcropping pegmatite as well as the strike continuation of a 6m at 1.38% Li2O from 198m intersections.
“Auroch has an ambitious exploration strategy to test lithium potential of both Kangaroo Hills and Nevada in quarter one 2023 and we are on track to meet that goal,” Auroch technical director Robin Cox says.
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