Eye on Lithium: General Motors makes largest-ever investment by an automaker in battery raw materials

GM invests US$650m in Lithium Americas Corp
Shares in Xantippe Resources soar as drilling begins at Southern Cross Project
St George enters into an option to acquire the Woolgangie Project

All your lithium news, Thursday February 2.

Detroit automaker General Motors (GM) has made the largest ever investment by an automaker in battery raw materials production after pouring US$650m into NYSE-listed Lithium Americas Corp to help it develop the Thacker Pass lithium project in Nevada.

The deal, announced on Tuesday, provides Lithium Americas with a major partner as it develops Thacker Pass – the largest known source of lithium in the United States and the third largest in the world.

Some more details on the Lithium Americas / General Motors mega deal:

✅ GM now largest shareholder in $LAC

✅ Biggest OEM investment in battery raw materials / upstream

✅ Designed to maximise DOE loan programs – policy actually works, a direct hit! pic.twitter.com/3E26hdZ6uW

— Simon Moores (@sdmoores) January 31, 2023

Production at Thacker Pass is set to begin in the second half of 2026 with the project estimated to hold enough lithium to produce up to 1 million EVs per year.

GM has announced a total of four US cell plants with annual capacity of 160GW hours, including the Ultium Cells joint venture plant with LG Energy Solution in Warren, Ohio, currently in production, as well as JV sites in Spring Hill, Tennessee and Lansing, Michigan that are scheduled to open in 2023 and 2024, respectively.

Here’s how ASX lithium stocks are tracking:

CODE	COMPANY	PRICE	% TODAY	MARKET CAP
ALY	Alchemy Resource Ltd	0.019	19%	$18,849,220
VKA	Viking Mines Ltd	0.014	17%	$12,303,101
TYX	Tyranna Res Ltd	0.023	15%	$48,108,507
NWM	Norwest Minerals	0.066	14%	$12,882,228
CHR	Charger Metals	0.43	13%	$16,611,460
CMD	Cassius Mining Ltd	0.035	13%	$12,663,280
TON	Triton Min Ltd	0.04	11%	$49,780,230
CRR	Critical Resources	0.062	11%	$89,058,627
BMM	Balkanminingandmin	0.42	11%	$17,013,365
PAT	Patriot Lithium	0.445	10%	$23,474,813
RAS	Ragusa Minerals Ltd	0.1125	10%	$14,616,376
BYH	Bryah Resources Ltd	0.026	8%	$6,750,083
ZEO	Zeotech Limited	0.041	8%	$62,346,815
AML	Aeon Metals Ltd.	0.03	7%	$30,699,217
RAG	Ragnar Metals Ltd	0.015	7%	$5,308,588
DRE	Dreadnought Resources Ltd	0.1125	7%	$324,421,463
ADV	Ardiden Ltd	0.008	7%	$20,162,515
GSM	Golden State Mining	0.051	6%	$5,616,682
LLI	Loyal Lithium Ltd	0.53	6%	$26,245,000
CZL	Cons Zinc Ltd	0.019	6%	$8,682,441
MMC	Mitremining	0.295	5%	$7,583,828
LNR	Lanthanein Resources	0.02	5%	$18,649,936
CTN	Catalina Resources	0.0105	5%	$12,384,869
MTM	Mtmongerresources	0.084	5%	$4,561,938
GW1	Greenwing Resources	0.32	5%	$45,157,954
SYA	Sayona Mining Ltd	0.2675	5%	$2,215,117,448
AUN	Aurumin	0.065	5%	$11,021,299
AGY	Argosy Minerals Ltd	0.695	5%	$933,930,986
A11	Atlantic Lithium	0.74	4%	$430,076,579
MLS	Metals Australia	0.055	4%	$32,172,918
INF	Infinity Lithium	0.14	4%	$62,449,933
DAF	Discovery Alaska Ltd	0.03	3%	$6,502,806
MQR	Marquee Resource Ltd	0.036	3%	$11,452,263
OCN	Oceanalithiumlimited	0.37	3%	$13,109,040
MRR	Minrex Resources Ltd	0.038	3%	$40,140,098
AS2	Askarimetalslimited	0.61	3%	$29,384,390
MXR	Maximus Resources	0.042	2%	$13,081,286
KTA	Krakatoa Resources	0.044	2%	$14,822,526
IMI	Infinitymining	0.235	2%	$17,590,013
LRS	Latin Resources Ltd	0.1175	2%	$253,190,316
LIS	Lisenergylimited	0.3725	2%	$60,558,678
PNN	Power Minerals Ltd	0.505	2%	$35,761,187
CAI	Calidus Resources	0.275	2%	$118,625,992
MNS	Magnis Energy Tech	0.4225	2%	$402,687,565
LTR	Liontown Resources	1.5625	2%	$3,371,528,262
TUL	Tulla Resources	0.365	1%	$76,625,442
AZL	Arizona Lithium Ltd	0.074	1%	$178,302,839
GLN	Galan Lithium Ltd	1.185	1%	$357,441,324
EUR	European Lithium Ltd	0.08	1%	$114,489,895
VUL	Vulcan Energy	7.21	1%	$1,021,259,343
LKE	Lake Resources	0.805	1%	$1,127,048,084
AAJ	Aruma Resources Ltd	0.085	1%	$13,184,766
INR	Ioneer Ltd	0.435	1%	$902,285,455
LIT	Lithium Australia	0.0465	1%	$56,174,817
WES	Wesfarmers Limited	50.165	1%	$56,302,724,100
RDT	Red Dirt Metals Ltd	0.505	1%	$222,453,745
CY5	Cygnus Gold Limited	0.51	1%	$92,856,477
ASN	Anson Resources Ltd	0.2775	1%	$324,020,104
LLL	Leolithiumlimited	0.605	1%	$591,994,147
EMH	European Metals Hldg	0.7	1%	$87,456,377
CXO	Core Lithium	1.1375	1%	$2,089,780,719
GT1	Greentechnology	0.895	1%	$169,757,170
PLS	Pilbara Min Ltd	4.78	0%	$14,300,314,467
1MC	Morella Corporation	0.015	0%	$91,478,707
AVZ	AVZ Minerals Ltd	0.78	0%	$2,752,409,203
LPI	Lithium Pwr Int Ltd	0.44	0%	$276,802,926
QPM	Queensland Pacific	0.11	0%	$192,098,271
RLC	Reedy Lagoon Corp.	0.01	0%	$5,667,196
TKL	Traka Resources	0.008	0%	$5,782,196
LEL	Lithenergy	0.83	0%	$49,924,500
ARN	Aldoro Resources	0.24	0%	$27,098,956
AX8	Accelerate Resources	0.03	0%	$11,328,053
EMS	Eastern Metals	0.085	0%	$3,320,475
FRS	Forrestaniaresources	0.17	0%	$10,351,522
EMC	Everest Metals Corp	0.1	0%	$10,643,311
WML	Woomera Mining Ltd	0.016	0%	$15,298,579
KGD	Kula Gold Limited	0.027	0%	$9,752,722
WR1	Winsome Resources	2.33	0%	$327,812,409
KZR	Kalamazoo Resources	0.21	0%	$31,252,069
SCN	Scorpion Minerals	0.084	0%	$29,039,320
AZI	Altamin Limited	0.079	0%	$30,945,623
ENT	Enterprise Metals	0.01	0%	$7,050,807
STM	Sunstone Metals Ltd	0.036	0%	$94,336,071
AVW	Avira Resources Ltd	0.003	0%	$6,401,370
BNR	Bulletin Res Ltd	0.105	0%	$30,827,066
RMX	Red Mount Min Ltd	0.006	0%	$11,930,093
A8G	Australasian Metals	0.19	0%	$7,822,394
EFE	Eastern Resources	0.018	0%	$21,155,870
SRZ	Stellar Resources	0.013	0%	$13,060,202
LSR	Lodestar Minerals	0.0045	0%	$7,822,968
AOA	Ausmon Resorces	0.006	0%	$5,143,736
IPT	Impact Minerals	0.01	0%	$24,813,706
SRI	Sipa Resources Ltd	0.032	0%	$7,301,060
VMC	Venus Metals Cor Ltd	0.145	0%	$25,821,409
ZNC	Zenith Minerals Ltd	0.24	0%	$84,409,451
EPM	Eclipse Metals	0.021	0%	$42,589,256
EVR	Ev Resources Ltd	0.015	0%	$13,934,761
THR	Thor Energy PLC	0.006	0%	$8,731,877
MM1	Midasmineralsltd	0.15	0%	$8,569,765
AOU	Auroch Minerals Ltd	0.064	0%	$27,382,089
XTC	Xantippe Res Ltd	0.0055	0%	$56,606,191
WMC	Wiluna Mining Corp	0.205	0%	$74,238,031
IR1	Irismetals	1.16	0%	$74,506,800
DAL	Dalaroometalsltd	0.092	0%	$2,748,500
VSR	Voltaic Strategic	0.024	0%	$7,354,336
SGQ	St George Min Ltd	0.075	0%	$62,601,760
LLO	Lion One Metals Ltd	1.08	0%	$12,550,530
AKE	Allkem Limited	12.995	-1%	$8,366,074,088
TKM	Trek Metals Ltd	0.072	-1%	$26,567,991
NVA	Nova Minerals Ltd	0.68	-1%	$144,937,350
PGD	Peregrine Gold	0.4925	-2%	$19,375,945
IGO	IGO Limited	14.46	-2%	$11,139,409,529
JRL	Jindalee Resources	2.23	-2%	$130,250,253
M2R	Miramar	0.0825	-2%	$5,937,266
ESS	Essential Metals Ltd	0.53	-2%	$144,486,015
DTM	Dart Mining NL	0.053	-2%	$8,403,510
MIN	Mineral Resources.	88.56	-2%	$17,127,672,075
QXR	Qx Resources Limited	0.048	-2%	$43,946,254
G88	Golden Mile Res Ltd	0.0225	-2%	$4,705,564
NMT	Neometals Ltd	0.84	-2%	$475,357,411
RIO	Rio Tinto Limited	125.1	-3%	$47,675,298,364
PLL	Piedmont Lithium Inc	0.935	-3%	$406,521,600
LPD	Lepidico Ltd	0.0155	-3%	$122,204,348
RGL	Riversgold	0.028	-3%	$27,418,564
GL1	Globallith	2.16	-4%	$477,508,093
FTL	Firetail Resources	0.135	-4%	$9,100,000
TMB	Tambourahmetals	0.115	-4%	$4,943,112
AM7	Arcadia Minerals	0.22	-4%	$10,740,515
KAI	Kairos Minerals Ltd	0.021	-5%	$43,210,057
LRD	Lordresourceslimited	0.185	-5%	$6,491,964
LRV	Larvottoresources	0.18	-5%	$12,778,397
TEM	Tempest Minerals	0.0255	-6%	$13,628,687
PSC	Prospect Res Ltd	0.1125	-6%	$55,471,135
WC8	Wildcat Resources	0.027	-7%	$19,198,659
PAM	Pan Asia Metals	0.365	-8%	$58,007,958
WCN	White Cliff Min Ltd	0.012	-8%	$10,192,707
FG1	Flynngold	0.095	-10%	$8,223,971

A total of 62 lithium stocks finished in the green, 45 fell flat and another 30 stocks tumbled into the red.

Who’s got news out?

XANTIPPE RESOURCES (ASX:XTC)

Shares in XTC are on a tear after the company announced the commencement of drilling this week on lithium pegmatite targets within Exploration Lease E77/2609 in the southern part of the Southern Cross project.

Xantippe has an approved Program of Works (PoW) for the drilling and is now preparing to drill and complete the program in February.

The PoW comprises four RC holes for a total of 1,080m.

ST GEORGE (ASX:SGQ)

St George entered into an option to acquire the Woolgangie project, a package of nine exploration licences (granted or in application) with a total area of 1,200km2.

The project has received only superficial previous exploration for lithium bearing pegmatites and limited exploration for other types of mineralisation.

St George believes that systematic exploration for lithium and other critical metals offers an excellent opportunity for a new discovery.

ARCADIA MINERALS (ASX:AM7)

Assay results for all 23 drill holes at the Madube Pan area within the Bitterwasser project in Namibia have been received, indicating similar grades to the Eden Pan where a lithium JORC resource has been defined.

Importantly, AM7 says the central portion of the Madube Pan indicates elevated lithium results and when applying a cut-off of 500ppm, eight holes intersected clays of more than 500 ppm lithium content.

Both the Eden and Madube pans have only been drilled to a depth of up to 18m from surface, so the potential for further mineralised zones at depth exists over both prospects.

The plans to put out an independent JORC compliant mineral resource statement for the Madube pan by April.

PAN ASIA METALS (ASX:PAN)

The results of an 18 hole step out drilling program at Reung Kiet in southern Thailand have demonstrated “extensions at depth and along strike” of the existing resource, with more drilling planned to take place at the Bang I Tum lithium prospect, 8km to the north of Reung Kiet.

Pan Asia managing director Paul Lock says the results remain very positive with hits at the southern end of Reung Kiet the clear stand outs.

“Final assays required for the updated Mineral Resource will be received shortly and then CSA Global will start the required modelling and estimation work,” he says.