Eye on Lithium: EV front-runner Tesla reportedly struggling with new battery tech

Tesla’s 4680 battery might not reach high production volumes until 2023
Charger Metals pushes Medcalf lithium prospect towards drilling with a program earmarked for December
Xantippe’s conducting pre-drilling surface mapping at the Upper Coondina Lithium Project

All your lithium news, Thursday September 8.

Tesla is reportedly undergoing issues with the dry coating technique currently being used to produce bigger cells in its 4680 battery.

While notably light on detail, Reuters said ‘12 anonymous experts close to Tesla’ predict the auto-car maker will find it difficult to fully implement its dry coating manufacturing process before the end of this year, and perhaps not until 2023.

This comes hot on the heels of Elon Musk announcing to shareholders that the company would be producing ‘high volumes of 4680 batteries’ by the end of this year.

But Reuters suggests the dry coating tech is ‘so new and unproven that the company is having trouble scaling up manufacturing to the point where the big cost savings kick in’.

Tesla acquired its dry-coating technology via its acquisition of Maxwell Technologies back in 2019 under the intention the technology would dramatically cut battery costs through the elimination of parts of the manufacturing process – saving up to US$5,500 per Model Y battery pack.

Here’s how ASX lithium stocks are tracking today:

CODE	COMPANY	PRICE	% TODAY	% WEEK	% MONTH	MARKET CAP
ASN	Anson Resources Ltd	0.39	32%	10%	189%	$303,280,975
LRD	Lordresourceslimited	0.24	23%	23%	20%	$6,490,501
WCN	White Cliff Min Ltd	0.0285	19%	43%	148%	$15,686,481
RAS	Ragusa Minerals Ltd	0.26	13%	6%	210%	$29,588,136
WR1	Winsome Resources	0.305	13%	13%	20%	$36,480,778
SHH	Shree Minerals Ltd	0.009	13%	0%	13%	$9,907,895
MM1	Midasmineralsltd	0.2	11%	-13%	8%	$10,283,718
EVR	Ev Resources Ltd	0.031	11%	11%	7%	$25,927,554
OCN	Oceanalithiumlimited	0.65	10%	6%	44%	$19,779,750
TYX	Tyranna Res Ltd	0.045	10%	36%	61%	$96,590,287
PGD	Peregrine Gold	0.745	10%	-4%	1%	$26,330,658
CRR	Critical Resources	0.047	9%	4%	2%	$63,984,655
BNR	Bulletin Res Ltd	0.14	8%	0%	27%	$38,036,843
RMX	Red Mount Min Ltd	0.007	8%	0%	17%	$10,675,365
MQR	Marquee Resource Ltd	0.072	7%	-4%	-9%	$21,146,378
EUR	European Lithium Ltd	0.087	7%	1%	-1%	$113,419,373
LIS	Lisenergylimited	0.6175	7%	22%	-20%	$95,400,658
SYA	Sayona Mining Ltd	0.295	7%	0%	40%	$2,282,165,378
QXR	Qx Resources Limited	0.03	7%	0%	-9%	$24,062,145
KAI	Kairos Minerals Ltd	0.03	7%	7%	0%	$54,994,618
LTR	Liontown Resources	1.845	7%	6%	23%	$3,788,850,979
GL1	Globallith	2.02	7%	17%	29%	$299,939,704
RDT	Red Dirt Metals Ltd	0.635	7%	8%	44%	$181,209,883
IPT	Impact Minerals	0.008	7%	0%	0%	$18,610,279
DRE	Drednought Resources	0.1225	7%	-13%	63%	$349,718,858
CHR	Charger Metals	0.495	6%	5%	-2%	$15,150,181
INR	Ioneer Ltd	0.675	6%	2%	5%	$1,332,315,138
CAI	Calidus Resources	0.595	6%	-2%	-23%	$245,157,755
LLL	Leolithiumlimited	0.62	6%	8%	38%	$577,194,294
PLS	Pilbara Min Ltd	4.18	6%	15%	46%	$11,782,357,771
RGL	Riversgold	0.037	6%	0%	23%	$27,131,648
AGY	Argosy Minerals Ltd	0.47	6%	13%	21%	$607,804,918
AKE	Allkem Limited	14.87	6%	7%	26%	$8,978,225,851
RAG	Ragnar Metals Ltd	0.038	6%	-7%	-10%	$13,650,656
XTC	Xantippe Res Ltd	0.0095	6%	-5%	19%	$73,131,612
LKE	Lake Resources	1.275	5%	9%	37%	$1,681,868,188
PLL	Piedmont Lithium Inc	0.91	5%	5%	38%	$456,348,742
KTA	Krakatoa Resources	0.061	5%	-5%	24%	$19,993,175
MNS	Magnis Energy Tech	0.52	5%	13%	41%	$480,314,084
INF	Infinity Lithium	0.21	5%	35%	50%	$83,002,613
AUN	Aurumin	0.105	5%	-9%	-30%	$12,530,714
CXO	Core Lithium	1.6	5%	14%	25%	$2,649,222,918
MIN	Mineral Resources.	62.36	5%	-3%	8%	$11,269,357,180
LRV	Larvottoresources	0.22	5%	-6%	-2%	$8,721,825
PNN	Power Minerals Ltd	0.56	5%	11%	11%	$32,938,704
LRS	Latin Resources Ltd	0.115	5%	0%	53%	$214,840,302
EPM	Eclipse Metals	0.023	5%	-4%	-4%	$44,533,651
CZL	Cons Zinc Ltd	0.023	5%	10%	-6%	$8,521,872
GLN	Galan Lithium Ltd	1.28	4%	-1%	-5%	$373,098,104
GT1	Greentechnology	0.745	4%	3%	6%	$134,836,232
IGO	IGO Limited	13.375	4%	0%	15%	$9,723,318,719
ESS	Essential Metals Ltd	0.51	4%	13%	4%	$121,266,393
MLS	Metals Australia	0.051	4%	-6%	-16%	$29,744,773
LNR	Lanthanein Resources	0.053	4%	15%	152%	$49,104,104
NMT	Neometals Ltd	1.505	4%	8%	17%	$800,902,437
EFE	Eastern Resources	0.028	4%	-7%	0%	$27,181,729
AZL	Arizona Lithium Ltd	0.085	4%	-1%	5%	$197,613,896
TON	Triton Min Ltd	0.029	4%	4%	0%	$35,245,957
WC8	Wildcat Resources	0.031	3%	11%	35%	$19,358,182
MRR	Minrex Resources Ltd	0.0505	3%	-8%	-14%	$52,747,995
JRL	Jindalee Resources	2.51	3%	0%	-4%	$140,004,677
EMH	European Metals Hldg	0.74	3%	2%	-7%	$86,211,701
FRS	Forrestaniaresources	0.195	3%	18%	39%	$6,338,648
TEM	Tempest Minerals	0.04	3%	5%	-15%	$19,685,881
MMG	Monger Gold Ltd	0.41	3%	0%	71%	$16,016,000
DTM	Dart Mining NL	0.1075	2%	-14%	38%	$14,202,317
PSC	Prospect Res Ltd	0.096	2%	-9%	-26%	$43,452,389
VUL	Vulcan Energy	8.17	2%	-1%	3%	$1,148,115,761
WES	Wesfarmers Limited	46.62	2%	-1%	-2%	$51,839,175,864
AS2	Askarimetalslimited	0.345	1%	-4%	0%	$15,323,552
RIO	Rio Tinto Limited	90.59	1%	-4%	-7%	$33,190,441,694
LEL	Lithenergy	0.97	1%	-1%	-2%	$43,344,000
ADV	Ardiden Ltd	0.008	0%	0%	0%	$21,346,683
1MC	Morella Corporation	0.026	0%	4%	44%	$149,906,790
AML	Aeon Metals Ltd.	0.03	0%	3%	7%	$32,802,923
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	$2,752,409,203
LIT	Lithium Australia	0.061	0%	-21%	-22%	$63,159,969
LPD	Lepidico Ltd	0.03	0%	0%	3%	$195,215,737
LPI	Lithium Pwr Int Ltd	0.695	0%	11%	15%	$242,655,669
QPM	Queensland Pacific	0.145	0%	-3%	-3%	$226,723,904
RLC	Reedy Lagoon Corp.	0.015	0%	0%	-6%	$8,361,404
BMM	Balkanminingandmin	0.185	0%	-3%	-8%	$6,058,750
AX8	Accelerate Resources	0.035	0%	-3%	-3%	$9,466,061
BYH	Bryah Resources Ltd	0.027	0%	-4%	-13%	$7,539,844
EMS	Eastern Metals	0.125	0%	-7%	-19%	$4,832,031
FG1	Flynngold	0.095	0%	-1%	-1%	$6,085,800
GSM	Golden State Mining	0.05	0%	-11%	2%	$5,850,710
IMI	Infinitymining	0.2	0%	-5%	54%	$11,500,000
MMC	Mitremining	0.125	0%	-4%	9%	$3,385,638
TMB	Tambourahmetals	0.145	0%	-2%	-17%	$5,972,927
TSC	Twenty Seven Co. Ltd	0.002	0%	43%	-5%	$5,321,628
WML	Woomera Mining Ltd	0.016	0%	7%	0%	$10,989,329
KZR	Kalamazoo Resources	0.23	0%	-7%	0%	$33,877,706
MTM	Mtmongerresources	0.14	0%	4%	33%	$5,251,405
SCN	Scorpion Minerals	0.079	0%	-2%	25%	$26,214,664
AZI	Altamin Limited	0.095	0%	4%	6%	$37,213,091
STM	Sunstone Metals Ltd	0.043	0%	-7%	-4%	$111,647,196
AVW	Avira Resources Ltd	0.004	0%	0%	0%	$8,475,160
A8G	Australasian Metals	0.27	0%	0%	10%	$11,116,033
SRZ	Stellar Resources	0.015	0%	7%	-12%	$14,477,964
LSR	Lodestar Minerals	0.007	0%	0%	-13%	$12,169,061
NWM	Norwest Minerals	0.06	0%	9%	33%	$10,836,443
AOA	Ausmon Resorces	0.008	0%	-11%	45%	$6,858,315
VKA	Viking Mines Ltd	0.008	0%	0%	14%	$8,202,067
SRI	Sipa Resources Ltd	0.047	0%	12%	4%	$9,636,166
VMC	Venus Metals Cor Ltd	0.16	0%	0%	-16%	$25,612,589
ZNC	Zenith Minerals Ltd	0.31	0%	-5%	3%	$106,876,306
G88	Golden Mile Res Ltd	0.034	0%	3%	21%	$6,926,909
THR	Thor Mining PLC	0.01	0%	0%	0%	$10,991,633
MXR	Maximus Resources	0.054	0%	8%	4%	$17,220,911
M2R	Miramar	0.125	0%	4%	25%	$8,023,333
AOU	Auroch Minerals Ltd	0.062	0%	-3%	2%	$23,008,932
WMC	Wiluna Mining Corp	0.205	0%	0%	0%	$74,238,031
ZEO	Zeotech Limited	0.05	0%	-9%	-19%	$78,095,774
ALY	Alchemy Resource Ltd	0.022	0%	10%	38%	$20,967,629
GW1	Greenwing Resources	0.275	0%	-4%	10%	$33,893,021
DAL	Dalaroometalsltd	0.105	0%	5%	-5%	$3,136,875
TKM	Trek Metals Ltd	0.064	0%	-14%	-9%	$19,879,050
TUL	Tulla Resources	0.5	0%	-3%	-7%	$80,108,436
AM7	Arcadia Minerals	0.275	-2%	-5%	104%	$13,075,410
KGD	Kula Gold Limited	0.025	-2%	14%	-10%	$5,486,979
FTL	Firetail Resources	0.24	-2%	-11%	0%	$15,136,713
PAM	Pan Asia Metals	0.43	-2%	-7%	10%	$32,524,906
DAF	Discovery Alaska Ltd	0.078	-3%	0%	100%	$17,938,776
NVA	Nova Minerals Ltd	0.875	-3%	-4%	-2%	$165,295,148
CY5	Cygnus Gold Limited	0.285	-5%	-2%	24%	$44,155,595
AAJ	Aruma Resources Ltd	0.065	-7%	0%	-4%	$10,987,305
ARN	Aldoro Resources	0.25	-7%	-2%	25%	$26,888,576
IR1	Irismetals	1.4	-8%	26%	226%	$92,826,750
ENT	Enterprise Metals	0.01	-9%	0%	0%	$7,182,788
TKL	Traka Resources	0.006	-14%	-14%	-14%	$4,821,422

72 ASX lithium stocks finished in the green today, 47 fell flat and 12 ended in the red.

Who’s got news out today?

CHARGER METALS NL (AX:CHR)

This ~$23.07m market cap is pushing the Medcalf lithium prospect towards drilling with a program earmarked to take place in December.

CHR’s geological team is completing the prerequisites for the approval process before the 20 hole RC program kicks off across spodumene bearing pegmatites at the site.

The company says drill planning is well advanced with multiple site visits made, a spring flora survey and heritage protection survey in train, access and emergency response plans updated and a drilling contract advancing.

A DMIRS program of works application will be lodged when the spring flora survey is also complete.

The Medcalf prospect is a mineralized zone within the Lake Johnston Project, which has attracted considerable interest due to its proximity to the large Mount Holland Lithium Project under development by Covalent Lithium.

ANSON RESOURCES (ASX:ASN)

The high-flying lithium project developer has released its 239,000t Paradox project definitive feasibility study (DFS), which “confirms outstanding economics and ESG credentials for Phase 1 development”.

Check out the headline numbers here.

ASN has assumed a long-term price assumption of ~US$19,000 per tonne of battery grade lithium carbonate for the purposes of this economic analysis.

At current lithium carbonate spot prices of ~US$70,000 per tonne, pre-tax NPV and IRR jump to $5,149m and 98%, respectively. That’s super profits territory.

“The DFS confirms the technical and financial viability of a major new source of high purity Lithium Carbonate available for the rapidly growing US market,” ASN executive chairman Bruce Richardson says.

The $413m market cap stock has been a standout over the past month, gaining almost 200% on strong news flow.

XANTIPPE RESOURCES (ASX:XTC)

XTC has received results for 327 soil samples covering the Glen Innis prospect on E77/2367 in Western Australia.

The soil samples program completed in June, primarily targeting gold, underwent UltraFine+ (UFF) analysis at LabWest in Perth.

Developed by CSIRO, the technique is used to detect low level gold as well as other elements by separating and analysing the <2-micron fraction.

While encouraging anomalous gold in soils were returned, a lithium trend was also spotted – which XTC says doesn’t appear to relate to the gold and requires further assessment.

METALSGROVE MINING (ASX:MGA)

Pre-drilling surface mapping is underway at the Upper Coondina project in Western Australia’s Pilbara region, which has never been explored for lithium.

MGA believes the pegmatites may be part of the same system that hosts the major Archer lithium discovery announced by Global Lithium (ASX:GL1) to the northeast of the site.

EUROPEAN LITHIUM (ASX:EUR)

High-grade lithium assays have been returned from rock chip samples taken during sampling programs at three selected Austrian lithium projects held in joint venture with EV Resources (ASX:EVR).

Assay results with a maximum of 3.24 % Li2O and an average of 1.74 % Li2O for mineralised samples were received and when added with historical data, underline the high prospectivity for the Millstätter Seerücken project area, where future exploration will be the company’s priority.