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Eye on Lithium: Imerys enters the lithium space with the goal of becoming a major European player
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- Gold Mountain uncovers lithium bearing pegmatites in Brazil
- European Lithium merges with NASDAQ listed Sizzle Acquisition Corp
- Odessa acquires the Lyndon lithium-rare earths Project
All your lithium news, Wednesday October 26.
French-based company, Imerys, has been producing kaolin for the ceramics industry since the late 19th century but on Monday it announced its entrance into the lithium space with a new ‘landmark’ project.
The results from a series of assessments carried out at the EMILI Beauvoir Lithium Mining Project in France has confirmed the deposit has “very attractive” concentrations and quantities of lithium.
Imerys says it is aiming to produce 34,000t of lithium hydroxide per year from 2028, making the group a leading supplier to the European battery market and a key player in the global lithium industry.
“This project is a response to the challenges introduced by the energy transition,” the company explains.
“It offers a long-term solution that addresses Europe’s decarbonisation ambitions while also increasing French and European sovereignty by reducing dependency on imports.”
While Imerys market cap is fraction of Albemarle, SQM et al, it is a much bigger company: about 3x the size.
It is diversified: 30 different minerals from 100 different deposits.
Ie Imerys gets speciality markets both on the supply side and demand side.
— Simon Moores (@sdmoores) October 24, 2022
Finally, Imerys is already in battery raw materials – primarily with its synthetic graphite operation in Switzerland. And carbon black. #anode
All in all, this is one to watch, especially for the European electric vehicle market.
— Simon Moores (@sdmoores) October 24, 2022
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| ALY | Alchemy Resource Ltd | 0.035 | 21% | $34,019,211 |
| EUR | European Lithium Ltd | 0.105 | 17% | $126,021,526 |
| XTC | Xantippe Res Ltd | 0.008 | 14% | $57,016,609 |
| NWM | Norwest Minerals | 0.033 | 14% | $6,441,114 |
| ENT | Enterprise Metals | 0.01 | 11% | $5,876,826 |
| LSR | Lodestar Minerals | 0.0055 | 10% | $8,692,187 |
| FG1 | Flynngold | 0.115 | 10% | $6,726,410 |
| AML | Aeon Metals Ltd. | 0.026 | 8% | $26,242,339 |
| DAF | Discovery Alaska Ltd | 0.035 | 6% | $7,399,745 |
| VUL | Vulcan Energy | 7.28 | 6% | $984,713,518 |
| KZR | Kalamazoo Resources | 0.19 | 6% | $26,787,487 |
| ARN | Aldoro Resources | 0.29 | 5% | $27,386,512 |
| WCN | White Cliff Min Ltd | 0.02 | 5% | $14,204,464 |
| 1MC | Morella Corporation | 0.022 | 5% | $121,832,672 |
| CY5 | Cygnus Gold Limited | 0.56 | 5% | $82,082,544 |
| WML | Woomera Mining Ltd | 0.0135 | 4% | $10,178,830 |
| PLL | Piedmont Lithium Inc | 0.96 | 4% | $1,527,232,992 |
| AUN | Aurumin | 0.083 | 4% | $10,024,571 |
| AZL | Arizona Lithium Ltd | 0.087 | 4% | $202,433,747 |
| CMD | Cassius Mining Ltd | 0.029 | 4% | $11,304,745 |
| CAI | Calidus Resources | 0.34 | 3% | $144,467,963 |
| MIN | Mineral Resources. | 77.015 | 3% | $14,186,077,425 |
| IGO | IGO Limited | 16.37 | 3% | $12,048,130,905 |
| LLL | Leolithiumlimited | 0.6375 | 3% | $611,727,285 |
| PAM | Pan Asia Metals | 0.39 | 3% | $55,805,124 |
| KGD | Kula Gold Limited | 0.039 | 3% | $12,776,053 |
| PSC | Prospect Res Ltd | 0.1025 | 3% | $46,225,946 |
| EMH | European Metals Hldg | 0.77 | 2% | $90,365,714 |
| MQR | Marquee Resource Ltd | 0.063 | 2% | $19,692,290 |
| LIS | Lisenergylimited | 0.425 | 1% | $69,683,959 |
| OCN | Oceanalithiumlimited | 0.465 | 1% | $15,421,500 |
| GLN | Galan Lithium Ltd | 1.515 | 1% | $456,854,822 |
| LIT | Lithium Australia | 0.0505 | 1% | $61,059,084 |
| A11 | Atlantic Lithium | 0.59 | 1% | $354,358,871 |
| AGY | Argosy Minerals Ltd | 0.5625 | 0% | $780,004,126 |
| WES | Wesfarmers Limited | 44.6 | 0% | $50,557,936,391 |
| ADV | Ardiden Ltd | 0.007 | 0% | $18,678,347 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| MLS | Metals Australia | 0.04 | 0% | $24,281,448 |
| QPM | Queensland Pacific | 0.17 | 0% | $294,145,290 |
| RLC | Reedy Lagoon Corp. | 0.012 | 0% | $6,689,123 |
| TKL | Traka Resources | 0.006 | 0% | $4,132,647 |
| TON | Triton Min Ltd | 0.025 | 0% | $34,569,604 |
| BMM | Balkanminingandmin | 0.275 | 0% | $11,827,958 |
| AX8 | Accelerate Resources | 0.03 | 0% | $8,113,767 |
| EMS | Eastern Metals | 0.125 | 0% | $4,832,031 |
| IMI | Infinitymining | 0.23 | 0% | $14,517,313 |
| MMC | Mitremining | 0.175 | 0% | $4,739,893 |
| SHH | Shree Minerals Ltd | 0.008 | 0% | $9,907,895 |
| TMB | Tambourahmetals | 0.14 | 0% | $5,766,964 |
| TSC | Twenty Seven Co. Ltd | 0.002 | 0% | $10,643,256 |
| CRR | Critical Resources | 0.061 | 0% | $90,901,447 |
| LRS | Latin Resources Ltd | 0.105 | 0% | $208,943,260 |
| WR1 | Winsome Resources | 0.38 | 0% | $51,343,318 |
| MTM | Mtmongerresources | 0.115 | 0% | $4,313,654 |
| SCN | Scorpion Minerals | 0.077 | 0% | $25,695,377 |
| KAI | Kairos Minerals Ltd | 0.03 | 0% | $58,922,805 |
| STM | Sunstone Metals Ltd | 0.032 | 0% | $83,086,285 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| RMX | Red Mount Min Ltd | 0.005 | 0% | $8,211,819 |
| SRZ | Stellar Resources | 0.012 | 0% | $12,055,571 |
| AOA | Ausmon Resorces | 0.007 | 0% | $6,001,025 |
| VKA | Viking Mines Ltd | 0.008 | 0% | $8,202,067 |
| IPT | Impact Minerals | 0.007 | 0% | $17,369,594 |
| VMC | Venus Metals Cor Ltd | 0.15 | 0% | $24,011,802 |
| RGL | Riversgold | 0.044 | 0% | $34,157,246 |
| ZNC | Zenith Minerals Ltd | 0.285 | 0% | $98,257,250 |
| G88 | Golden Mile Res Ltd | 0.026 | 0% | $5,319,334 |
| EPM | Eclipse Metals | 0.02 | 0% | $40,485,137 |
| WC8 | Wildcat Resources | 0.031 | 0% | $20,204,955 |
| MXR | Maximus Resources | 0.041 | 0% | $13,075,136 |
| MMG | Monger Gold Ltd | 0.48 | 0% | $19,219,200 |
| LRD | Lordresourceslimited | 0.33 | 0% | $10,983,925 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ZEO | Zeotech Limited | 0.038 | 0% | $61,352,248 |
| GW1 | Greenwing Resources | 0.33 | 0% | $41,647,803 |
| KTA | Krakatoa Resources | 0.062 | 0% | $21,372,015 |
| TYX | Tyranna Res Ltd | 0.049 | 0% | $117,816,841 |
| DAL | Dalaroometalsltd | 0.13 | 0% | $3,883,750 |
| RIO | Rio Tinto Limited | 91.14 | 0% | $33,899,464,662 |
| LKE | Lake Resources | 1.045 | 0% | $1,460,443,644 |
| LTR | Liontown Resources | 1.96 | -1% | $4,326,977,640 |
| TUL | Tulla Resources | 0.375 | -1% | $60,481,869 |
| NVA | Nova Minerals Ltd | 0.68 | -1% | $125,807,973 |
| IR1 | Irismetals | 1.665 | -1% | $105,386,400 |
| SYA | Sayona Mining Ltd | 0.2575 | -1% | $2,160,730,800 |
| CXO | Core Lithium | 1.455 | -1% | $2,696,745,430 |
| MRR | Minrex Resources Ltd | 0.0425 | -1% | $46,578,286 |
| AM7 | Arcadia Minerals | 0.315 | -2% | $14,943,325 |
| TKM | Trek Metals Ltd | 0.059 | -2% | $18,636,609 |
| AOU | Auroch Minerals Ltd | 0.058 | -2% | $21,895,596 |
| SRI | Sipa Resources Ltd | 0.054 | -2% | $11,276,364 |
| INR | Ioneer Ltd | 0.535 | -2% | $1,143,483,071 |
| PNN | Power Minerals Ltd | 0.475 | -2% | $34,996,161 |
| NMT | Neometals Ltd | 1.105 | -2% | $624,151,554 |
| INF | Infinity Lithium | 0.215 | -2% | $91,673,950 |
| LEL | Lithenergy | 1.19 | -2% | $73,383,000 |
| LPI | Lithium Pwr Int Ltd | 0.585 | -3% | $234,720,676 |
| FTL | Firetail Resources | 0.19 | -3% | $12,047,588 |
| EFE | Eastern Resources | 0.037 | -3% | $42,572,957 |
| GSM | Golden State Mining | 0.035 | -3% | $4,212,511 |
| LNR | Lanthanein Resources | 0.035 | -3% | $34,661,721 |
| JRL | Jindalee Resources | 2.31 | -3% | $136,561,939 |
| M2R | Miramar | 0.092 | -3% | $6,714,766 |
| MNS | Magnis Energy Tech | 0.3825 | -3% | $383,280,936 |
| QXR | Qx Resources Limited | 0.061 | -3% | $55,557,326 |
| CHR | Charger Metals | 0.455 | -3% | $20,494,836 |
| TEM | Tempest Minerals | 0.028 | -3% | $14,638,219 |
| BNR | Bulletin Res Ltd | 0.14 | -3% | $42,425,710 |
| GT1 | Greentechnology | 0.865 | -4% | $171,664,554 |
| BYH | Bryah Resources Ltd | 0.024 | -4% | $6,981,337 |
| AAJ | Aruma Resources Ltd | 0.07 | -4% | $11,458,190 |
| DRE | Dreadnought Resources Ltd | 0.115 | -4% | $365,104,026 |
| ASN | Anson Resources Ltd | 0.335 | -4% | $411,174,366 |
| RAG | Ragnar Metals Ltd | 0.022 | -4% | $8,721,252 |
| RDT | Red Dirt Metals Ltd | 0.535 | -4% | $185,917,661 |
| AKE | Allkem Limited | 14.32 | -4% | $9,558,494,709 |
| AZI | Altamin Limited | 0.084 | -5% | $34,471,074 |
| LPD | Lepidico Ltd | 0.02 | -5% | $138,226,541 |
| ESS | Essential Metals Ltd | 0.56 | -5% | $146,533,982 |
| LRV | Larvottoresources | 0.185 | -5% | $9,731,573 |
| GL1 | Globallith | 2.46 | -6% | $414,202,448 |
| A8G | Australasian Metals | 0.23 | -6% | $10,086,771 |
| PGD | Peregrine Gold | 0.59 | -6% | $24,394,580 |
| PLS | Pilbara Min Ltd | 4.985 | -7% | $16,012,141,784 |
| FRS | Forrestaniaresources | 0.185 | -8% | $10,083,964 |
| DTM | Dart Mining NL | 0.072 | -8% | $12,110,292 |
| CZL | Cons Zinc Ltd | 0.024 | -8% | $12,035,958 |
| MM1 | Midasmineralsltd | 0.18 | -8% | $11,140,694 |
| AS2 | Askarimetalslimited | 0.44 | -8% | $21,829,979 |
| THR | Thor Mining PLC | 0.008 | -11% | $9,916,186 |
| RAS | Ragusa Minerals Ltd | 0.265 | -12% | $39,303,788 |
| EVR | Ev Resources Ltd | 0.021 | -13% | $22,223,618 |
34 companies finished in the green, 47 fell flat and 52 tumbled into the red zone.
Who’s got news out?
GOLD MOUNTAIN (ASX:GMN)
Exploration work carried out by Gold Mountain and Mars Mines geologists has uncovered the presence of lithium-bearing pegmatites across a couple of its projects in Brazil.
According to the company, these pegmatites are present on both the Custodia and Juremal projects, while initial updates on the Cerro Cora and Porta D’Agua project remain pending and the Jacurici Project yet to be visited.
Through field observations, numerous pegmatites of varying widths (0.5 to 5m, and one pegmatite swarm up to ~300m wide) which has been traced for 1100 metres in strike length, have been identified but further mapping is required to confirm full continuity and trace the further extent of the swarm.
“I am very pleased with feedback I am receiving from the geological team in the field, and it is exciting to hear that they have observed pegmatite outcrops potentially containing spodumene in this first pass reconnaissance program,” CEO Tim Cameron says.
This initial reconnaissance survey took about 10 days to complete with the geologists visiting three out of the four project areas.
EUROPEAN LITHIUM (ASX:EUR)
Under a new agreement, European Lithium will see its wholly owned subsidiary – European Lithium AT Investments (the holder of the Wolfsberg project) roll into a new company named ‘Critical Minerals Group’, which will merged with NASDAZQ listed Sizzle Acquisition Corp.
In return, the company will be issued US$750m worth of shares in Critical Minerals, equivalent to an 80% interest.
Here’s where it gets really interesting is that Critical Minerals will have an implied market capitalisation of US$972m (AUD $1.5b) and pro forma enterprise value of US$838m.
READ: Wolfsberg is red hot property under European Lithium’s $A1.1bn deal with Sizzle
ODESSA MINERALS (ASX:ODE)
Following shareholder approval, Odessa has been granted the acquisition of the Lyndon Rare Earth-Lithium Project, marking a “major milestone” as it moves towards the exploration phase.
The company has already identified seven targets for potential REE mineralisation on a broad zone of pegmatites within these tenements which have elevated lithium grades in soils.
READ: NO WA1! Junior explorer rockets 220% on high grade niobium-rare earths discovery
ENTERPRISE METALS (ASX:ENT)
ENT has identified pegmatites with significant mineralisation – up to 0.97% Li2O in reverse circulation (RC) holes at the Mandilla Project in Western Australia.
Other intervals of 8m at 0.3% Li2O and 7m at 0.4% Li2O and 12m at 0.45% Li2O from pegmatites have also been returned.
The company is now planning RC drilling to define the aerial extent, geometry and nature of the pegmatite or pegmatites, and the bedrock grade of lithium related mineralisation.
ARIZONA LITHIUM (ASX:AZL)
AZL has signed a strategic partnership with Cemvita Factory (Cemvita) to utilise its portable organic lixiviant production plant at the company’s newly established Lithium Research Centre.
Cemvita intends to revolutionise the mining industry by lowering the carbon footprint using industrial biotechnology – its technology has significant potential to improve lithium recovery, lower extraction costs, and improve ESG performance.
Arizona Lithium will fast track the development of the Big Sandy Project, with further processing and extraction test work to be undertaken at the Company’s recently established Lithium Research Centre.
The Lithium Research Centre will function as a technology incubator focused on the extraction of lithium from a variety of ores and brines, as well as the production of battery-grade lithium chemicals for current and future battery technologies.
GLOBAL LITHIUM (ASX:GL1)
Global Lithium has completed the placement of 49.5m shares at 2.25 per share to raise around $111.4m which will be spent towards the Manna Project transaction, exploration, as well as on the Manna feasibility study, approvals, permitting and camp infrastructure.
“This raising demonstrates strong support of our conviction in our two high quality lithium projects and management and the Board’s exploration and development strategy,” GL1 managing director Ron Mitchell says.
“We now have the proceeds to see us through to the completion of the Manna feasibility study, which we expect to complete and release to the market in the second half of 2023.”
CONSOLIDATED ZINC (ASX:CZL)
Consolidated Zinc’s exploration program commenced on September 22nd at the Camel Creek /Ant Hill licenses and the first sampling and evaluation trip to the region has been completed
Reconnaissance outcrop rock chip sampling is being undertaken, while inspecting possible areas of mineralisation with the aim of assessing the possible lithium grade of the outcrops.
The comprehensive reconnaissance program will continue over the next month with the aim to locate and sample LCT pegmatites containing lithium mineralisation, and to define high priority areas for follow-up sampling and ultimately drilling.
RAGUSA MINERALS (ASX:RAS)
Significant lithium pegmatites have been confirmed during a drilling program of eight reverse circulation drill holes for a total of 719m.
The company says several of these drill holes have intersected pegmatite of significant thickness at varying depths, providing greater understanding of pegmatite morphology within the project area and assisting with pegmatite delineation.
Ragusa now plans to continue RC drilling until the wet season prohibits further site access and operations, and subject to regulatory approval via an MMP variation, seek to continue the drilling program during the wet season via diamond drilling operation.
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