Eye on Lithium: Even if every lithium project comes online we could still have a 2 million tonne deficit by 2030, S&P says

Even with every project online we could still be facing a 2 million mt deficit by 2030, S&P says
Critical Resources finds 40.9m of spodumene-bearing pegmatite at Mavis Lake
MinRex finds visible spodumene at the Sisters project in WA

All your ASX lithium news for Tuesday, August 2.

S&P Global says that even if every lithium project around the world was to come online by 2030 there is still going to be a 220,000t gap minimum in demand in 2030.

In fact, they said it could be as a high as a 2 million tonne gap.

While hard-rock assets will keep accounting for most of the lithium output in the future, all production routes, even those which have never operated at a commercial scale (we’re looking at you direct lithium extraction, clay-based and geothermal lithium) will be necessary to mitigate the increasing supply deficit.

This is because it could take almost a decade for a mining project to reach capacity – after its already spent the best part of a decade getting up and running.

“Within the product base, there will be limited integrated hydroxide capacity, meaning converters will keep playing an essential role into the future,” S&P said.

Like all estimates not perfect but makes the point well. There will be a #lithium deficit into the 2030s. Thanks @SPGlobal pic.twitter.com/p42kNS3Acj

— Joe Lowry (@globallithium) August 2, 2022

Here’s how ASX lithium stocks were tracking today:

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

Code	Company	Price	% Month	% Week	% Today	Market Cap
XTC	Xantippe Res Ltd	0.008	0%	0%	14%	$56,094,314.95
LRV	Larvottoresources	0.215	0%	5%	13%	$7,891,175.00
ENT	Enterprise Metals	0.013	63%	30%	13%	$7,509,277.91
GSM	Golden State Mining	0.053	36%	8%	13%	$5,471,801.99
BMM	Balkanminingandmin	0.22	33%	10%	10%	$6,550,000.00
AX8	Accelerate Resources	0.037	23%	16%	9%	$9,195,602.57
RMX	Red Mount Min Ltd	0.0065	18%	8%	8%	$9,854,183.15
MRR	Minrex Resources Ltd	0.056	81%	56%	8%	$55,127,641.97
CY5	Cygnus Gold Limited	0.215	39%	39%	8%	$23,597,063.00
SRZ	Stellar Resources	0.017	0%	13%	6%	$13,428,842.02
PGD	Peregrine Gold	0.42	11%	-6%	5%	$15,314,794.00
CZL	Cons Zinc Ltd	0.021	17%	5%	5%	$7,747,156.26
MMG	Monger Gold Ltd	0.24	14%	4%	4%	$9,209,200.00
KTA	Krakatoa Resources	0.051	-2%	-6%	4%	$16,890,785.93
KAI	Kairos Minerals Ltd	0.027	42%	0%	4%	$51,014,430.77
TKM	Trek Metals Ltd	0.06	9%	-8%	3%	$18,015,388.70
FRS	Forrestaniaresources	0.16	33%	0%	3%	$4,818,377.12
1MC	Morella Corporation	0.0165	-3%	-3%	3%	$82,819,423.78
EMH	European Metals Hldg	0.69	7%	-8%	3%	$80,200,431.12
LRD	Lordresourceslimited	0.21	-11%	0%	2%	$6,515,847.31
KZR	Kalamazoo Resources	0.215	26%	0%	2%	$30,490,818.54
CAI	Calidus Resources	0.72	24%	15%	2%	$287,520,825.39
AOU	Auroch Minerals Ltd	0.061	5%	-5%	2%	$22,182,107.94
NMT	Neometals Ltd	1.105	21%	7%	1%	$600,472,153.62
WES	Wesfarmers Limited	47.09	12%	0%	1%	$53,007,031,313.50
AML	Aeon Metals Ltd.	0.028	27%	-3%	0%	$27,751,677.04
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	$2,752,409,203.44
PSC	Prospect Res Ltd	0.135	186%	174%	0%	$62,405,027.37
TKL	Traka Resources	0.006	0%	0%	0%	$4,132,647.37
TON	Triton Min Ltd	0.027	42%	8%	0%	$33,987,172.78
ARN	Aldoro Resources	0.2	48%	25%	0%	$19,917,463.40
PAM	Pan Asia Metals	0.36	-15%	-5%	0%	$26,611,287.12
AS2	Askarimetalslimited	0.3	20%	25%	0%	$13,520,781.00
EMS	Eastern Metals	0.155	11%	15%	0%	$5,991,718.75
FG1	Flynngold	0.098	-2%	-2%	0%	$6,277,982.90
MMC	Mitremining	0.115	-4%	-4%	0%	$3,114,786.50
SHH	Shree Minerals Ltd	0.009	13%	13%	0%	$11,146,382.03
TMB	Tambourahmetals	0.175	40%	17%	0%	$7,208,704.65
TSC	Twenty Seven Co. Ltd	0.003	50%	0%	0%	$7,982,441.72
WML	Woomera Mining Ltd	0.015	-21%	3%	0%	$10,302,495.99
CRR	Critical Resources	0.047	7%	12%	0%	$69,936,716.23
KGD	Kula Gold Limited	0.028	22%	-13%	0%	$6,024,917.70
WR1	Winsome Resources	0.185	-10%	0%	0%	$24,996,088.89
SCN	Scorpion Minerals	0.066	-7%	3%	0%	$21,900,858.67
AZI	Altamin Limited	0.095	0%	-1%	0%	$37,213,091.44
AVW	Avira Resources Ltd	0.003	0%	-14%	0%	$6,356,370.00
RDT	Red Dirt Metals Ltd	0.4	5%	16%	0%	$121,821,770.40
EFE	Eastern Resources	0.025	19%	-11%	0%	$24,860,915.78
LSR	Lodestar Minerals	0.007	17%	17%	0%	$12,169,061.44
NWM	Norwest Minerals	0.045	55%	32%	0%	$8,127,332.42
AOA	Ausmon Resorces	0.005	-17%	-17%	0%	$4,286,446.72
VKA	Viking Mines Ltd	0.007	17%	0%	0%	$7,176,809.02
IPT	Impact Minerals	0.008	14%	0%	0%	$19,850,964.45
SRI	Sipa Resources Ltd	0.04	14%	0%	0%	$8,200,992.12
G88	Golden Mile Res Ltd	0.027	0%	-4%	0%	$5,500,780.58
EPM	Eclipse Metals	0.021	17%	5%	0%	$40,343,654.67
WC8	Wildcat Resources	0.023	-8%	-4%	0%	$14,841,272.72
MM1	Midasmineralsltd	0.18	-8%	-3%	0%	$10,283,717.52
M2R	Miramar	0.105	22%	-5%	0%	$6,739,599.62
WMC	Wiluna Mining Corp	0.205	-11%	0%	0%	$74,238,030.68
ZEO	Zeotech Limited	0.065	30%	14%	0%	$99,119,505.55
ALY	Alchemy Resource Ltd	0.014	0%	-13%	0%	$13,343,036.80
DAF	Discovery Alaska Ltd	0.043	-22%	-10%	0%	$9,642,092.01
IR1	Irismetals	0.4	70%	33%	0%	$23,850,000.00
LNR	Lanthanein Resources	0.016	0%	-6%	0%	$13,405,209.12
DAL	Dalaroometalsltd	0.11	25%	-8%	0%	$3,286,250.00
PLL	Piedmont Lithium Inc	0.625	20%	18%	-1%	$332,369,604.00
OCN	Oceanalithiumlimited	0.445	48%	1%	-1%	$15,086,250.00
AGY	Argosy Minerals Ltd	0.375	12%	6%	-1%	$515,370,258.74
RAS	Ragusa Minerals Ltd	0.072	-6%	-3%	-1%	$9,178,739.39
LIT	Lithium Australia	0.071	27%	6%	-1%	$74,549,471.40
MQR	Marquee Resource Ltd	0.07	13%	-1%	-1%	$22,408,848.18
ZNC	Zenith Minerals Ltd	0.34	26%	5%	-1%	$118,942,986.26
LTR	Liontown Resources	1.3	30%	10%	-2%	$2,893,737,261.36
GT1	Greentechnology	0.61	2%	-9%	-2%	$114,247,178.66
TUL	Tulla Resources	0.57	7%	3%	-2%	$92,925,785.76
A8G	Australasian Metals	0.24	4%	4%	-2%	$10,086,771.03
FTL	Firetail Resources	0.235	-6%	-8%	-2%	$14,827,800.00
MIN	Mineral Resources.	52.81	14%	11%	-2%	$10,220,075,855.56
LLL	Leolithiumlimited	0.45	-13%	10%	-2%	$453,862,179.52
RIO	Rio Tinto Limited	96.67	-4%	0%	-2%	$36,720,707,888.88
RAG	Ragnar Metals Ltd	0.042	17%	17%	-2%	$16,304,950.23
MNS	Magnis Energy Tech	0.3075	3%	-1%	-2%	$305,654,417.15
PLS	Pilbara Min Ltd	2.73	22%	7%	-3%	$8,335,175,475.20
TEM	Tempest Minerals	0.039	-59%	-7%	-3%	$20,190,647.04
LEL	Lithenergy	0.965	40%	16%	-3%	$44,698,500.00
VMC	Venus Metals Cor Ltd	0.175	3%	3%	-3%	$28,814,162.94
IGO	IGO Limited	10.735	9%	7%	-3%	$8,367,809,333.65
VUL	Vulcan Energy	7.14	31%	0%	-3%	$1,053,514,462.35
DRE	Dreadnought Resources Ltd	0.066	38%	10%	-3%	$193,030,481.47
CXO	Core Lithium	1.15	23%	10%	-3%	$2,053,860,623.46
PNN	Power Minerals Ltd	0.48	9%	4%	-3%	$30,450,848.18
BYH	Bryah Resources Ltd	0.029	16%	-3%	-3%	$6,786,215.25
AZL	Arizona Lithium Ltd	0.0715	-19%	-8%	-3%	$177,964,491.51
INF	Infinity Lithium	0.14	19%	4%	-3%	$60,176,894.57
LPD	Lepidico Ltd	0.028	12%	-7%	-3%	$188,707,974.46
QPM	Queensland Pacific	0.14	22%	8%	-3%	$226,723,904.00
EVR	Ev Resources Ltd	0.028	12%	-7%	-3%	$26,853,538.06
JRL	Jindalee Resources	2.49	-14%	-6%	-3%	$148,037,732.28
RLC	Reedy Lagoon Corp.	0.0135	-29%	-25%	-4%	$7,803,976.77
LKE	Lake Resources	0.8	5%	16%	-4%	$1,153,480,801.98
IMI	Infinitymining	0.13	-10%	-4%	-4%	$7,762,500.00
CHR	Charger Metals	0.51	47%	7%	-4%	$17,267,948.55
GLN	Galan Lithium Ltd	1.135	10%	1%	-4%	$359,191,247.16
ASN	Anson Resources Ltd	0.125	34%	-4%	-4%	$133,628,603.55
EUR	European Lithium Ltd	0.075	34%	1%	-4%	$107,990,330.21
MXR	Maximus Resources	0.049	9%	7%	-4%	$16,213,194.17
NVA	Nova Minerals Ltd	0.845	24%	14%	-4%	$158,578,010.80
LRS	Latin Resources Ltd	0.072	7%	-5%	-4%	$145,937,557.20
GW1	Greenwing Resources	0.23	5%	10%	-4%	$29,579,363.76
ESS	Essential Metals Ltd	0.44	21%	11%	-4%	$113,384,215.50
LPI	Lithium Pwr Int Ltd	0.5	20%	12%	-5%	$183,301,045.20
MTM	Mtmongerresources	0.1	-17%	-9%	-5%	$3,938,553.47
INR	Ioneer Ltd	0.5425	28%	5%	-5%	$1,195,513,984.92
MLS	Metals Australia	0.058	16%	12%	-5%	$34,650,207.65
AKE	Allkem Limited	11.17	9%	9%	-5%	$7,517,988,833.94
SYA	Sayona Mining Ltd	0.175	13%	-8%	-5%	$1,526,271,255.21
GL1	Globallith	1.36	16%	18%	-6%	$230,112,471.20
ADV	Ardiden Ltd	0.0075	-6%	7%	-6%	$21,346,682.85
TYX	Tyranna Res Ltd	0.03	67%	58%	-6%	$49,035,541.34
DTM	Dart Mining NL	0.074	48%	19%	-6%	$10,685,552.64
QXR	Qx Resources Limited	0.029	4%	0%	-6%	$26,640,231.95
RGL	Riversgold	0.027	-4%	-4%	-7%	$21,934,903.97
STM	Sunstone Metals Ltd	0.045	2%	-10%	-8%	$127,225,874.53
WCN	White Cliff Min Ltd	0.011	0%	-12%	-8%	$7,843,240.34
BNR	Bulletin Res Ltd	0.105	-5%	-13%	-9%	$33,647,976.50
AAJ	Aruma Resources Ltd	0.056	-15%	-9%	-10%	$9,731,613.19
AUN	Aurumin	0.14	22%	-10%	-10%	$16,929,604.06
THR	Thor Mining PLC	0.009	-10%	-18%	-10%	$10,689,009.73
LIS	Lisenergylimited	0.69	47%	-7%	-11%	$128,583,494.93
AM7	Arcadia Minerals	0.13	-21%	-19%	-16%	$7,238,173.26

Only 25 stocks were in the green, 41 were flat and 65 were red.

Who has news out today?

CRITICAL RESOURCES (ASX:CRR)

CRR has intersected multiple pegmatite dykes totalling 40.9m in step out hole MF22-116 at its Mavis Lake project in Canada.

“To intercept 40-plus meters of lithium-bearing pegmatites in one hole 80m east of any known occurrences in a previously untested area at Mavis Lake is extremely encouraging,” chairman Robert Martin said.

“The company’s drilling program continues to intersect mineralised pegmatite and show the pegmatites remain open at depth and along a potential strike length of approximately 3km between our Pegmatite 6 and Pegmatite 18 prospects.”

The plan is to continue infill drilling, followed by testing the approximate 3km of potential strike length towards Pegmatite 18.

MINREX RESOURCES (ASX:MRR)

The first pass ground geological mapping and rock chip sampling program over the recently granted Sisters Lithium Project in WA has identified extensive lithium-tantalum- tin rich pegmatites on the ground.

“Extensive untested soil geochemical anomalies further support for potential of buried pegmatites leaching anomalous lithium values over areas spanning over 3.2km in length by 480m in width over the central portion of E45/5871,” MD George Karageorge says.

He also said the unexpected high-grade lithium-tantalum-tin pegmatites further confirms the high prospectivity of the area to potentially delineate lithium resources close to the nearby Archer Lithium Deposit owned by Global Lithium (ASX:GL1).

MinRex plans to kick off the maiden RC drillhole program to test the extensive stacked pegmatites by the end of August 2022.