Eye on Lithium: Ganfeng Lithium’s consumer electronics arm is raising prices citing raw materials costs

Xinyu Ganfeng Electronics Co. is upping the prices for batteries in consumer electronics
Global Lithium Resources flags 5.76% Li2O grade and recovery rate of 85% from test work at Marble Bar project
Sayona says North American Lithium project on track for restart in Q1 2023

All your ASX lithium news for Friday, September 16

Rising lithium prices in recent months have led to a battery-maker and car manufacturer foot race for raw material supplies, and lithium miners and producers have been riding the wave.

But now it looks like those prices are going to increase the costs of smaller lithium batteries used in consumer electronics – and increase the price of those devices for the consumer.

The consumer electronics arm of Chinese lithium producer Ganfeng Lithium is raising the prices for these small batteries, citing a huge cost increase for raw materials.

Xinyu Ganfeng Electronics Co. which makes small polymer lithium batteries for smart wearable products and Bluetooth headset batteries and says the rising prices of minerals including lithium carbonate, cobalt oxide and graphite mean that higher prices will be passed on to customers.

The company also said that anode materials had also been impacted by production and electricity curbs in Inner Mongolia.

A unit of China’s top lithium producer Ganfeng Lithium is raising prices for small batteries used in consumer electronics like headphones that are produced by companies including Xiaomi and Oppo https://t.co/7j27iMwahB

— Bloomberg (@business) September 15, 2022

Here’s how ASX lithium stocks were tracking today:

Code	Company	Price	% Month	% Week	% Today	Market Cap
ENT	Enterprise Metals	0.013	18%	30%	30%	$6,529,806.88
WC8	Wildcat Resources	0.039	39%	26%	15%	$21,939,272.72
AVW	Avira Resources Ltd	0.0045	13%	0%	13%	$8,475,160.00
VMC	Venus Metals Cor Ltd	0.175	3%	3%	9%	$25,612,589.28
LSR	Lodestar Minerals	0.0065	-19%	-7%	8%	$10,430,624.09
KTA	Krakatoa Resources	0.069	5%	6%	8%	$22,061,434.69
IPT	Impact Minerals	0.0075	-6%	-6%	7%	$17,369,593.89
KZR	Kalamazoo Resources	0.26	-7%	24%	6%	$36,087,121.63
CRR	Critical Resources	0.08	25%	78%	5%	$113,089,158.16
TON	Triton Min Ltd	0.026	-7%	-24%	4%	$34,569,604.43
AML	Aeon Metals Ltd.	0.031	7%	3%	3%	$32,802,923.19
GSM	Golden State Mining	0.048	-20%	-2%	2%	$5,499,667.59
IMI	Infinitymining	0.24	60%	26%	2%	$13,512,500.00
TEM	Tempest Minerals	0.0375	-17%	-6%	1%	$18,676,348.51
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	$2,752,409,203.44
PSC	Prospect Res Ltd	0.094	-10%	1%	0%	$43,452,389.43
RLC	Reedy Lagoon Corp.	0.016	0%	0%	0%	$8,918,830.59
TKL	Traka Resources	0.007	0%	17%	0%	$4,821,421.93
BMM	Balkanminingandmin	0.305	53%	65%	0%	$9,988,750.00
CHR	Charger Metals	0.605	11%	19%	0%	$19,726,651.18
AAJ	Aruma Resources Ltd	0.065	-18%	-2%	0%	$10,202,497.70
AX8	Accelerate Resources	0.037	0%	6%	0%	$10,006,979.26
BYH	Bryah Resources Ltd	0.028	0%	-3%	0%	$7,819,097.27
EMS	Eastern Metals	0.125	-14%	4%	0%	$4,832,031.25
FG1	Flynngold	0.105	11%	11%	0%	$6,726,410.25
LRV	Larvottoresources	0.23	-8%	-2%	0%	$9,552,475.00
MMC	Mitremining	0.18	57%	9%	0%	$4,875,318.00
SHH	Shree Minerals Ltd	0.01	0%	11%	0%	$12,384,868.92
TMB	Tambourahmetals	0.17	0%	6%	0%	$7,002,741.66
TSC	Twenty Seven Co. Ltd	0.002	-29%	0%	0%	$5,321,627.81
WML	Woomera Mining Ltd	0.017	-3%	6%	0%	$11,676,162.12
KGD	Kula Gold Limited	0.02	-23%	0%	0%	$5,379,390.76
MTM	Mtmongerresources	0.14	4%	-3%	0%	$5,251,404.62
QXR	Qx Resources Limited	0.031	-18%	3%	0%	$26,640,231.95
AZI	Altamin Limited	0.088	-1%	-7%	0%	$34,471,074.18
A8G	Australasian Metals	0.315	11%	15%	0%	$12,968,705.61
SRZ	Stellar Resources	0.014	-18%	-7%	0%	$13,512,766.76
AOA	Ausmon Resorces	0.009	64%	29%	0%	$7,715,604.09
VKA	Viking Mines Ltd	0.008	0%	0%	0%	$8,202,067.45
SRI	Sipa Resources Ltd	0.05	16%	6%	0%	$10,251,240.15
ZNC	Zenith Minerals Ltd	0.295	-5%	-6%	0%	$101,704,872.31
G88	Golden Mile Res Ltd	0.033	10%	-3%	0%	$6,751,461.95
EPM	Eclipse Metals	0.023	0%	5%	0%	$46,557,907.50
EVR	Ev Resources Ltd	0.032	-6%	10%	0%	$29,631,490.27
THR	Thor Mining PLC	0.011	10%	10%	0%	$12,090,796.58
CZL	Cons Zinc Ltd	0.023	5%	0%	0%	$8,909,229.70
MM1	Midasmineralsltd	0.2	-17%	-5%	0%	$11,426,352.80
LRD	Lordresourceslimited	0.27	17%	17%	0%	$8,986,847.67
WMC	Wiluna Mining Corp	0.205	0%	0%	0%	$74,238,030.68
AUN	Aurumin	0.11	-29%	5%	0%	$13,783,785.18
ALY	Alchemy Resource Ltd	0.023	15%	5%	0%	$21,920,746.97
GW1	Greenwing Resources	0.345	21%	25%	0%	$42,520,335.41
DAL	Dalaroometalsltd	0.135	36%	29%	0%	$4,033,125.00
TKM	Trek Metals Ltd	0.073	-4%	14%	0%	$22,674,540.95
IR1	Irismetals	2.15	233%	54%	-1%	$132,087,900.00
LLL	Leolithiumlimited	0.7875	46%	30%	-1%	$784,392,245.04
MMG	Monger Gold Ltd	0.5	64%	15%	-1%	$20,220,200.00
MNS	Magnis Energy Tech	0.46	1%	-9%	-1%	$451,204,139.60
LIT	Lithium Australia	0.06	-32%	-3%	-2%	$74,398,235.81
TYX	Tyranna Res Ltd	0.052	33%	4%	-2%	$124,860,615.35
LEL	Lithenergy	1.26	18%	25%	-2%	$58,017,750.00
TUL	Tulla Resources	0.49	-8%	-5%	-2%	$80,108,436.00
ZEO	Zeotech Limited	0.048	-19%	-2%	-2%	$76,533,858.03
RDT	Red Dirt Metals Ltd	0.71	60%	17%	-2%	$220,801,958.85
MXR	Maximus Resources	0.047	-22%	-10%	-2%	$15,307,476.86
DTM	Dart Mining NL	0.093	16%	-11%	-2%	$12,849,715.20
INR	Ioneer Ltd	0.645	-11%	-4%	-2%	$1,384,768,490.16
EMH	European Metals Hldg	0.85	-11%	6%	-2%	$104,172,472.38
PGD	Peregrine Gold	0.61	-35%	-20%	-2%	$24,200,972.50
WES	Wesfarmers Limited	45.03	-6%	-4%	-2%	$52,315,388,765.88
SCN	Scorpion Minerals	0.08	21%	-2%	-2%	$27,210,157.74
STM	Sunstone Metals Ltd	0.04	-20%	-9%	-2%	$106,454,303.18
IGO	IGO Limited	14.27	17%	5%	-2%	$11,078,828,104.19
RGL	Riversgold	0.039	0%	3%	-3%	$31,007,597.44
RIO	Rio Tinto Limited	92.19	-3%	0%	-3%	$35,131,902,492.96
CAI	Calidus Resources	0.56	-18%	-6%	-3%	$251,724,480.38
LIS	Lisenergylimited	0.56	-21%	-8%	-3%	$95,400,657.53
INF	Infinity Lithium	0.18	16%	-8%	-3%	$76,962,417.21
PNN	Power Minerals Ltd	0.705	22%	14%	-3%	$44,645,579.03
VUL	Vulcan Energy	7.9	-16%	-5%	-3%	$1,165,315,997.13
MIN	Mineral Resources.	67.9	12%	8%	-3%	$13,259,961,279.61
LKE	Lake Resources	0.895	-39%	-33%	-3%	$1,285,725,680.83
JRL	Jindalee Resources	2.56	-11%	3%	-3%	$152,054,259.90
PLS	Pilbara Min Ltd	4.53	40%	7%	-3%	$13,998,407,745.63
LPD	Lepidico Ltd	0.028	-13%	-13%	-3%	$188,708,545.76
1MC	Morella Corporation	0.027	-7%	0%	-4%	$161,438,082.01
NVA	Nova Minerals Ltd	0.79	-8%	-9%	-4%	$150,602,245.50
FTL	Firetail Resources	0.26	2%	6%	-4%	$16,681,275.00
OCN	Oceanalithiumlimited	0.65	18%	3%	-4%	$22,629,375.00
GL1	Globallith	2.82	45%	45%	-4%	$464,985,890.08
NMT	Neometals Ltd	1.26	-11%	-13%	-4%	$723,573,925.48
WCN	White Cliff Min Ltd	0.025	108%	-7%	-4%	$19,437,687.41
CY5	Cygnus Gold Limited	0.245	2%	-13%	-4%	$37,532,255.33
MQR	Marquee Resource Ltd	0.07	-25%	-1%	-4%	$23,040,083.34
LRS	Latin Resources Ltd	0.115	0%	0%	-4%	$234,371,238.24
DRE	Dreadnought Resources Ltd	0.115	24%	-4%	-4%	$364,924,026.12
AKE	Allkem Limited	15.01	17%	-1%	-4%	$10,004,855,369.34
EUR	European Lithium Ltd	0.088	-1%	-1%	-4%	$128,822,004.10
PAM	Pan Asia Metals	0.435	-8%	0%	-4%	$33,633,710.11
QPM	Queensland Pacific	0.1625	16%	12%	-4%	$265,814,232.27
AOU	Auroch Minerals Ltd	0.08	14%	23%	-5%	$31,173,391.12
AGY	Argosy Minerals Ltd	0.5275	29%	15%	-5%	$758,701,173.81
DAF	Discovery Alaska Ltd	0.076	58%	0%	-5%	$17,938,775.84
RAG	Ragnar Metals Ltd	0.036	-22%	-5%	-5%	$14,409,025.78
PLL	Piedmont Lithium Inc	0.88	-5%	-4%	-5%	$490,640,844.00
XTC	Xantippe Res Ltd	0.0085	-23%	-6%	-6%	$73,307,068.65
MLS	Metals Australia	0.05	-26%	-4%	-6%	$32,172,918.12
NWM	Norwest Minerals	0.05	19%	-17%	-6%	$9,572,191.51
RAS	Ragusa Minerals Ltd	0.25	25%	-6%	-6%	$34,090,678.02
LTR	Liontown Resources	1.615	-9%	-13%	-6%	$3,766,886,625.25
GT1	Greentechnology	0.785	1%	8%	-6%	$159,266,558.16
EFE	Eastern Resources	0.031	-6%	15%	-6%	$33,222,113.10
CXO	Core Lithium	1.4125	-13%	-12%	-6%	$2,614,479,010.78
ARN	Aldoro Resources	0.22	-12%	-12%	-6%	$23,403,019.50
AZL	Arizona Lithium Ltd	0.087	-17%	-2%	-6%	$224,123,077.17
AM7	Arcadia Minerals	0.285	58%	-3%	-7%	$14,242,857.06
BNR	Bulletin Res Ltd	0.14	-10%	-7%	-7%	$43,888,665.00
LNR	Lanthanein Resources	0.054	93%	-4%	-7%	$55,843,883.06
GLN	Galan Lithium Ltd	1.39	-3%	8%	-7%	$456,854,821.50
ESS	Essential Metals Ltd	0.495	-7%	-3%	-7%	$132,403,102.73
ASN	Anson Resources Ltd	0.3925	145%	-7%	-8%	$437,963,146.43
RMX	Red Mount Min Ltd	0.006	-14%	0%	-8%	$10,675,365.08
SYA	Sayona Mining Ltd	0.295	5%	-5%	-8%	$2,657,383,739.84
MRR	Minrex Resources Ltd	0.053	-10%	4%	-9%	$62,436,402.77
AS2	Askarimetalslimited	0.365	-11%	6%	-9%	$18,027,708.00
LPI	Lithium Pwr Int Ltd	0.605	-7%	-13%	-10%	$233,927,048.16
WR1	Winsome Resources	0.31	3%	-3%	-10%	$46,614,327.93
KAI	Kairos Minerals Ltd	0.041	41%	32%	-13%	$92,312,394.08
FRS	Forrestaniaresources	0.235	47%	7%	-13%	$9,007,552.08
M2R	Miramar	0.105	6%	-16%	-16%	$8,023,332.88
ADV	Ardiden Ltd	0.007	-22%	0%	-18%	$22,680,850.53

Only 14 stocks were in the green, 40 were flat and a whopping 77 were red.

Who has news out today?

GLOBAL LITHIUM RESOURCES (ASX:GL1)

The company has flagged the second round of preliminary whole floatation metallurgical test work from lithium diamond core samples from its Marble Bar lithium project (MBLP) achieved a grade of 5.76% Li2O with a recovery rate of 85%.

“Achieving lithium recoveries of 85% is certainly something we are excited about,” MD Ron Mitchell said.

“These results, as did the initial results released in August, fully support the prospect of MBLP becoming a standalone lithium operation in the years to come.”

Further metallurgical test work will be carried out to optimise the flowsheet to improve the concentrate grade.

SAYON MINING (ASX:SYA)

Sayona says the North American Lithium (NAL) operation is on track for restart of spodumene (lithium) production in Q1 2023, with procurement 94% completed, 95% of required permits received and construction ramping up.

The overall project budget has also been lowered to C$95.5 million from the previous C$97.75 million due to reductions in the scope of work, with commitments to date of C$41.6 million compared to the planned C$45.4 million.

“With the right team in place, an ESG‐friendly operation due to Québec’s clean and green hydro power and the backing of key stakeholders, we are well placed for further growth as the leading lithium producer in North America,” MD Brett Lynch said.

Plus, the company has nabbed promotion to the benchmark S&P/ASX200 index prior to the open of trading on Monday, 19 September 2022.

NOVA MINERALS (ASX:NVA)

The company says it completed over 20,000 meters of additional drilling on the Snow Lake Lithium project in Canada, tripling the amount of drilling that can be used towards its resource expansion plans.

“We look forward to the resource upgrade and development at our majority owned Thompson Brothers Lithium Project through Snow Lake Resources,” CEO Christopher Gerteisen said.

“Given the recent activity in the lithium market with higher prices and strong demand from the electric vehicle and battery storage markets the company is well positioned to capitalize on this demand.”

ANSON RESOURCES (ASX:ASN)

Anson says investors have backed a $50m placement at $0.36 per share which will used to fund complete front-end engineering design work, permitting and ordering of long lead procurement items to accelerate the final investment decision (FID) for its Paradox lithium project in the US, anticipated in the second quarter of 2023.

“The result of the capital raise is an outstanding endorsement of the Paradox Lithium Project and for ‘made in USA’ battery grade lithium carbonate,” executive chairman Bruce Richardson said.

Funds will also be used for further resource expansion including the execution of the company’s Western Strategy, which will be included in a future resource upgrade at Paradox.