Eye on Lithium: Hungary solidifies position as key player in Europe automotive space

Infinity Lithium receives a key exploration permit (PESE) over the flagship ‘San Jose’ project
Pilbara Minerals approves a $560 million expansion to 1Mtpa at Pilgangoora
St George mining hits a “very wide” interval of pegmatite in the first drill hole to test the ‘Manta’ seismic reflector at Mt Alexander

All your lithium news, Wednesday March 29.

State incentives and the opportunity for automakers and battery suppliers to work side by side is the lure that Hungary has set in its bid to become a global centre for electric vehicles.

With tier 1 battery producers like CATL and SK Innovation (SKI) ramping up expansions plans in the landlocked country to meet demand from Europe’s automakers, Benchmark Mineral Intelligence (BMI) says Hungary is set to emerge as the second-largest producer of electric vehicle batteries after Germany this decade.

At Benchmark’s Gigafactories Europe conference in Budapest this week, an energy official told delegates Hungary plans to invest “up to ten billion euros this decade” in clean energy as it transitions away from fossil fuels.

“This will be the biggest investment in Hungary in the last 50 years,” Viktor Horvath, the Deputy State Secretary for Hungary’s Ministry of Energy said.

In total, Hungary has already received over 14 billion euros in foreign direct investment into its battery sector alone in the past six years.

Here’s how ASX lithium stocks are tracking:

CODE	COMPANY	PRICE	TODAY RETURN %	MARKET CAP
INF	Infinity Lithium	0.175	59%	$50,885,130
RLC	Reedy Lagoon Corp.	0.008	33%	$3,400,318
GSM	Golden State Mining	0.037	16%	$3,744,455
AZI	Altamin Limited	0.073	14%	$25,069,872
FBM	Future Battery	0.078	13%	$29,521,314
1MC	Morella Corporation	0.009	13%	$48,788,644
A8G	Australasian Metals	0.18	13%	$6,587,279
XTC	Xantippe Res Ltd	0.0045	13%	$42,320,399
AX8	Accelerate Resources	0.0245	11%	$8,307,239
SGQ	St George Min Ltd	0.059	11%	$44,547,059
RDT	Red Dirt Metals Ltd	0.365	11%	$146,819,472
CHR	Charger Metals	0.33	10%	$13,114,310
LRV	Larvottoresources	0.165	10%	$10,088,208
WML	Woomera Mining Ltd	0.011	10%	$9,561,612
MTM	Mtmongerresources	0.11	10%	$7,076,025
LNR	Lanthanein Resources	0.017	10%	$17,384,421
WR1	Winsome Resources	1.595	8%	$238,997,963
AZL	Arizona Lithium Ltd	0.054	8%	$134,548,286
ALY	Alchemy Resource Ltd	0.014	8%	$15,314,991
TYX	Tyranna Res Ltd	0.018	6%	$40,909,231
ZEO	Zeotech Limited	0.057	6%	$88,598,106
MQR	Marquee Resource Ltd	0.02	5%	$6,216,943
DRE	Dreadnought Resources Ltd	0.064	5%	$200,917,421
LRS	Latin Resources Ltd	0.115	5%	$242,182,041
SRI	Sipa Resources Ltd	0.023	5%	$5,019,479
CAI	Calidus Resources	0.235	4%	$98,898,939
CY5	Cygnus Metals Ltd	0.235	4%	$41,371,698
EMH	European Metals Hldg	0.6	4%	$72,448,511
PGD	Peregrine Gold	0.4	4%	$15,091,815
KTA	Krakatoa Resources	0.03	3%	$9,996,588
PNN	Power Minerals Ltd	0.305	3%	$21,312,524
PSC	Prospect Res Ltd	0.155	3%	$69,338,919
MM1	Midasmineralsltd	0.155	3%	$8,569,765
AUN	Aurumin	0.031	3%	$5,932,746
GT1	Greentechnology	0.68	3%	$125,887,339
LIT	Lithium Australia	0.035	3%	$41,520,517
IMI	Infinitymining	0.18	3%	$13,383,706
AM7	Arcadia Minerals	0.2	3%	$9,106,089
GLN	Galan Lithium Ltd	1.05	2%	$314,588,290
AKE	Allkem Limited	11.8	2%	$7,352,197,732
PLL	Piedmont Lithium Inc	0.8225	2%	$348,387,095
TUL	Tulla Resources	0.255	2%	$80,451,001
PLS	Pilbara Min Ltd	3.925	2%	$11,542,352,048
PAT	Patriot Lithium	0.27	2%	$16,135,188
DTM	Dart Mining NL	0.057	2%	$8,714,751
A11	Atlantic Lithium	0.475	1%	$284,698,580
MNS	Magnis Energy Tech	0.2575	1%	$257,634,528
RIO	Rio Tinto Limited	115.35	1%	$42,481,983,530
ESS	Essential Metals Ltd	0.4875	1%	$129,769,847
WES	Wesfarmers Limited	49.76	0%	$56,223,344,630
ADV	Ardiden Ltd	0.007	0%	$18,818,347
AML	Aeon Metals Ltd.	0.022	0%	$24,120,814
AVZ	AVZ Minerals Ltd	0.78	0%	$2,752,409,203
JRL	Jindalee Resources	2.5	0%	$143,447,415
LKE	Lake Resources	0.45	0%	$640,100,118
LPD	Lepidico Ltd	0.011	0%	$84,015,489
SYA	Sayona Mining Ltd	0.205	0%	$1,821,518,999
TKL	Traka Resources	0.006	0%	$4,336,647
TON	Triton Min Ltd	0.029	0%	$40,100,741
BMM	Balkanminingandmin	0.23	0%	$10,297,563
NMT	Neometals Ltd	0.595	0%	$328,881,000
AAJ	Aruma Resources Ltd	0.06	0%	$9,417,690
BYH	Bryah Resources Ltd	0.022	0%	$6,187,576
EMS	Eastern Metals	0.062	0%	$2,421,994
FG1	Flynngold	0.079	0%	$8,127,009
MMC	Mitremining	0.275	0%	$10,514,653
RAG	Ragnar Metals Ltd	0.015	0%	$5,687,773
TMB	Tambourahmetals	0.086	0%	$3,542,563
TEM	Tempest Minerals	0.021	0%	$10,636,560
CRR	Critical Resources	0.041	0%	$65,384,950
KGD	Kula Gold Limited	0.018	0%	$6,501,815
ENT	Enterprise Metals	0.008	0%	$5,640,646
STM	Sunstone Metals Ltd	0.036	0%	$94,336,071
AVW	Avira Resources Ltd	0.003	0%	$6,401,370
NVA	Nova Minerals Ltd	0.44	0%	$92,791,501
RMX	Red Mount Min Ltd	0.004	0%	$9,087,404
MRR	Minrex Resources Ltd	0.022	0%	$23,867,085
EFE	Eastern Resources	0.0105	0%	$13,040,438
SRZ	Stellar Resources	0.011	0%	$11,050,940
LSR	Lodestar Minerals	0.005	0%	$8,692,187
NWM	Norwest Minerals	0.029	0%	$7,173,765
G88	Golden Mile Res Ltd	0.015	0%	$3,068,846
EPM	Eclipse Metals	0.016	0%	$32,448,957
EVR	Ev Resources Ltd	0.015	0%	$14,039,761
WC8	Wildcat Resources	0.028	0%	$18,536,636
THR	Thor Energy PLC	0.0045	0%	$6,651,508
CZL	Cons Zinc Ltd	0.016	0%	$7,717,725
LLI	Loyal Lithium Ltd	0.32	0%	$19,036,800
LRD	Lordresourceslimited	0.22	0%	$7,324,267
WMC	Wiluna Mining Corp	0.205	0%	$74,238,031
DAF	Discovery Alaska Ltd	0.03	0%	$6,727,041
IR1	Irismetals	1.16	0%	$74,506,800
DAL	Dalaroometalsltd	0.06	0%	$1,792,500
TKM	Trek Metals Ltd	0.069	0%	$25,112,211
LLL	Leolithiumlimited	0.485	0%	$478,528,602
CMD	Cassius Mining Ltd	0.02	0%	$8,169,858
LLO	Lion One Metals Ltd	0.93	0%	$11,168,336
VUL	Vulcan Energy	5.56	0%	$798,934,627
MIN	Mineral Resources.	80.73	0%	$15,608,119,697
LTR	Liontown Resources	2.56	0%	$5,650,028,407
FRS	Forrestaniaresources	0.095	-1%	$5,845,565
LIS	Lisenergylimited	0.2275	-1%	$38,160,263
IGO	IGO Limited	12.63	-1%	$9,685,455,328
MLS	Metals Australia	0.0375	-1%	$23,067,375
EMC	Everest Metals Corp	0.074	-1%	$7,982,483
RAS	Ragusa Minerals Ltd	0.072	-1%	$10,409,711
LEL	Lithenergy	0.605	-2%	$36,992,250
QPM	Queensland Pacific	0.1075	-2%	$192,098,271
AS2	Askarimetalslimited	0.43	-2%	$21,778,913
GL1	Globallith	1.265	-2%	$276,059,367
INR	Ioneer Ltd	0.2925	-3%	$629,501,480
GW1	Greenwing Resources	0.195	-3%	$29,748,401
KAI	Kairos Minerals Ltd	0.019	-3%	$38,299,823
ASN	Anson Resources Ltd	0.18	-3%	$225,488,561
SCN	Scorpion Minerals	0.067	-3%	$23,853,727
OCN	Oceanalithiumlimited	0.33	-3%	$12,776,010
QXR	Qx Resources Limited	0.031	-3%	$28,699,594
AGY	Argosy Minerals Ltd	0.45	-3%	$653,049,487
LPI	Lithium Pwr Int Ltd	0.3	-3%	$195,020,244
BNR	Bulletin Res Ltd	0.083	-3%	$25,248,835
VKA	Viking Mines Ltd	0.0115	-4%	$12,303,101
CXO	Core Lithium	0.86	-4%	$1,669,515,115
EUR	European Lithium Ltd	0.062	-5%	$96,800,546
MXR	Maximus Resources	0.04	-5%	$13,400,342
FTL	Firetail Resources	0.095	-5%	$6,500,000
IPT	Impact Minerals	0.009	-5%	$23,573,020
ARN	Aldoro Resources	0.17	-6%	$20,324,217
KZR	Kalamazoo Resources	0.1275	-6%	$20,225,615
VSR	Voltaic Strategic	0.016	-6%	$5,224,104
RGL	Riversgold	0.015	-6%	$15,127,483
VMC	Venus Metals Cor Ltd	0.145	-6%	$27,602,196
M2R	Miramar	0.042	-7%	$3,515,478
PAM	Pan Asia Metals	0.32	-7%	$53,511,429
CTN	Catalina Resources	0.005	-9%	$6,811,678
AOA	Ausmon Resorces	0.0045	-10%	$4,846,447
WCN	White Cliff Min Ltd	0.008	-11%	$7,056,490
ZNC	Zenith Minerals Ltd	0.17	-13%	$68,582,679

A total of 49 stocks finished in the green, 51 fell flat, and 37 tumbled into the red.

WHO’S GOT NEWS OUT?

INFINITY LITHIUM (ASX:INF)

Spain lithium play INF has received a key exploration permit (PESE) over the flagship ‘San Jose’ project, reinforcing government and stakeholder commitment to the project.

“The granting of the Exploration Permit is a major milestone for the project, providing clarity on the permitting and administrative process for a fully integrated lithium project in the heart of Cáceres,” INF subsidiary Extremadura New Energies boss Ramón Jiménez says.

PILBARA MINERALS (ASX:PLS)

Pilbara Minerals has approved a $560 million expansion to 1Mtpa at the flagship Pilgangoora lithium mine this morning.

The final investment decision to boost production by 47% from its already approved 680,000tpa expansion project has come as little surprise, given the remarkable war chest built up by the miner in recent times.

PLS plans to have the first concentrate from its expanded Pilgangoora plant out by March 2025, with the ramp up to full production completed by September 2025.

ST GEORGE (ASX:SGQ)

SGQ has hit a “very wide” interval of pegmatite in the first drill hole to test the ‘Manta’ seismic reflector at the company’s Mt Alexander project.

Further drilling in April is planned to test this large target at shallower depth, initially where the pegmatite is interpreted to intersect, or underly, the outcropping greenstone sequence.

CORAZON MINING (ASX:CZN)

Corazon has expanded its lithium footprint at the Miriam project in Western Australia following a soil sampling program designed to define the extents of the spodumene-rich pegmatite for first pass drill testing.

The program has identified a large lithium geochemical anomaly of around 1.6km in strike up to 300m in width with a second trend of 600m.

Corazon plans to conduct a shallow drilling program to test the lithium anomalism, in parallel with its aggressive, ongoing nickel sulphide exploration program at the Miriam nickel sulphide trend to the west.

LATIN RESOURCES (ASX:LRS)

Latin Resources has signed a non-binding Memorandum of Understanding (MoU) with the Minas Gerais State Economic Development Department (SEDE) and the Minas Gerais Integrated Development Institute (INDI) together referred to as Invest Minas.

Invest Minas’ purpose is to attract, regulate and promote economic activity in the State of Minas Gerais, Brazil that increases employment and growth in the region.

This includes the facilitation of cooperation between private companies, investors and the public administration.

The purpose of the MoU is to provide mutual support between the parties to support the battery materials sector and supply chain investment in the region, including two-way introductions and investment partnerships in the region.

On behalf of the Government of Minas Gerais, the document was signed by the Secretary of State for Economic Development, Fernando Passalio Avelar, in a ceremony held in Perth, Western Australia.

POWER MINEARLS (ASX:PNN)

Drilling continues to enhance Power Minerals’ lithium resource potential at Incahuasi Salar in an ongoing resource expansion drill program.
Assay results from four packer brines samples taken from selected intervals have returned consistent lithium grades, ranging between 165ppm Li and 196ppm Li, along with excellent brine density, of up to 1.21g/ml.

The drill rig and crew have demobilised from Incahuasi in preparation for the commencement of drilling at the next priority target, the Rincon salar.

ENTERPRISE METALS (ASX:ENT)

Six reverse circulation holes have been completed at the Mandilla prospect near Widgiemooltha in Western Australia after defining a cluster of three steeply dipping pegmatites.

These pegmatites, which are covered by 20m of alluvium and saprolitic clay, are open with further RC drilling planned to the north and south of the current east-west section.

FIRST AU (ASX:FAU)

FAU has agreed with the owners (shareholders) of PG Exploration to vary the terms upon which FAU proposes acquiring 100% of the issued capital of PG Exploration.

The terms of the Transaction were initially announced to ASX on February 13, with the milestones for issue of shares and options under the Transaction set out in that announcement being subject to refinement required by ASX.

FAU has consulted with ASX specifically on the milestones under the Transaction and the agreed variations are a result of input from the ASX on the terms of the milestones, including the circumstances and timeframe within which milestones may be satisfied.

At Stockhead we tell it like it is. While Corazon Mining, Latin Resources, and St George Mining are Stockhead clients, they did not sponsor this article.