• Tesla sold 3,097 EVs in Australia in March and 4,417 total in Quarter 1.
  • Pepinnini signs MoU with lithium extraction company Sunresin New Materials
  • Kula Gold kicks off EM surveys at its Brunswick nickel-PGE-lithium Project in WA

All your ASX lithium news for Thursday, April 7.

 

Electric vehicles (EVs) have had their best month ever in Australia, accounting for 2.5% of the market in March.

That might not seem a lot when you consider British drivers bought more electric cars (39,315 to be exact) in March alone than in the whole of 2019, but we have seen a doubling of sales in the last year in Australia.

In the first quarter of 2021, EV sales totalled around 3,250 units and this year that number is more than double – at 6,752.

And the winning EV player in the country is (you guessed it) Tesla, which sold 4,417 Model 3 sedans in the quarter, accounting for two thirds of the total.

But when you break that down further Tesla sold  3,097 cars in March, still half the amount of Toyota Hilux’s sold — proving we still have a way to go before we fully accept EVs. That, or we need some beasty 4wD EVs to choose from.

 

Here’s how ASX lithium stocks are tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

 

Only 21 stocks were in the green today, with 22 flatlining and a whopping 68 in the red.

 

Who’s got news out today?

PEPINNINI (ASX:PNN)

The company has entered a MoU with lithium extraction company Sunresin New Materials Co. for the evaluation and development of its Salta Lithium Brine Project in Argentina.

It’s the first step in a proposed long-term partnership to utilise Sunresin’s proprietary Direct Lithium Extraction (DLE) technology to potentially produce battery-grade lithium carbonate (LIC) at Salta.

Notably, Sunresin has >10 years’ experience in DLE, including a total of eight commercial projects located in South America, North America, Europe and China, ranging from 3,000tpa capacity to 25,000tpa.

PNN Share price today

 

KULA GOLD (ASX:KGD)

The explorer has kicked off electromagnetic surveys across several key targets at its Brunswick nickel-PGE-lithium project in WA.

The Project is in the Western Gneiss Terrain which hosts Chalice Gold Mines’s (ASX:CHN) nickel-copper-PGE-gold Project to the north and the Boddington copper-gold mine to the NE.

Targets include where the company identified primary copper mineralisation at the Brunswick project, and field reconnaissance is also taking place for prospective Lithium targets.

KGD Share price today

 

LODESTAR (ASX:LSR)/AUROCH (ASX:AOU)

Today the companies announced positive results from re-assaying of previous RC drilling in the northern tenements of the Nepean Nickel JV Project in WA.

Auroch owns an 80% interest, and is the operator of the project.

The results include 1m at 0.88% Li2O, from 78m within 4m at 0.35% Li2O from 78m – and were intersected accidentally as the drilling was targeting nickel mineralisation.

“This growing potential for significant lithium mineralisation compliments the company’s primary focus on its high-grade nickel sulphide projects in Western Australia, as the company looks to leverage the ever-increasing demand for critical minerals for the renewable energy sector,” Auroch MD Aidan Platel said.

There has been no systematic targeting of pegmatite LCT mineralisation at Nepean and this latest confirmation of lithium potential will provide a focus for further work, with Auroch planning follow up exploration programs targeting the LCT pegmatite potential in parallel with on-going nickel exploration.

LSR/AOU Share price today 

 

GALAN LITHIUM (ASX:GLN)

Galan has identified potential upside to resources at its Hombre Muerto West project in Argentina after extensional drilling extended the scope of the lithium brine reservoir.

Diamond hole PP-02-22 extends the brine potential by a further 800m from existing drillhole PP-01-19 to within 1km of the neighbouring Livent tenement boundary.

The company says that downhole geophysics indicate high porosity intervals while core logs and cuttings show strong indicators for brine-bearing production aquifers.

The results will be incorporated into the upcoming resource update for the project, which is expected during the third quarter of 2022.

GLN Share price today