India is looking to domestic lithium production and is becoming open to foreign investment. Pic via Getty Images.
Eye on Lithium: India opens the floodgates to foreign investment for its net-zero goals
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All your lithium news, August 9.
Just like Moses from the Bible, India has a vision to part the red-taped waters and allow foreign investment to burgeon its lithium production as it strives for net-zero targets.
India is attempting to cement itself as a top-tier lithium producer after its government passed a law to auction off deposits and let private entities mine lithium reserves in its Jammu and Kashmir provinces discovered earlier this year, as it targets becoming carbon neutral by 2070.
Under the law, lithium – along with other critical minerals – was removed from a list of “atomic minerals” which had previously prevented it from being auctioned off and mined by private companies.
And just a couple of months ago, the Geological Survey of India (GSI) announced that its Rajasthan province contains more lithium reserves than first thought and could supply 80% of India’s internal demand for the raw material.
This could open the floodgates for all types of mining companies, from ASX juniors right up to mining heavyweights looking to become a part of the critical mineral supply chain for the most populous country in the world.
Here’s how Aussie lithium stocks are tracking:
Code Company Price % Today Market Cap IR1 Irismetals 2.24 45% $123,581,500 FTL Firetail Resources 0.13 35% $9,240,000 TMX Terrain Minerals 0.006 20% $5,415,997 BMM Balkanminingandmin 0.2 14% $10,687,602 RMX Red Mount Min Ltd 0.005 11% $10,403,330 IEC Intra Energy Corp 0.0055 10% $8,103,908 AUN Aurumin 0.025 9% $6,785,911 NIS Nickelsearch 0.065 8% $5,737,823 FG1 Flynngold 0.07 8% $8,864,868 LSR Lodestar Minerals 0.0075 7% $12,903,781 NWM Norwest Minerals 0.048 7% $12,940,628 IPT Impact Minerals 0.016 7% $42,670,558 EPM Eclipse Metals 0.017 6% $32,448,957 LPM Lithium Plus 0.27 6% $16,826,991 PAM Pan Asia Metals 0.275 6% $40,497,973 BYH Bryah Resources Ltd 0.019 6% $6,291,095 AZL Arizona Lithium Ltd 0.019 6% $56,933,763 WML Woomera Mining Ltd 0.0105 5% $9,561,946 KOB Kobaresourceslimited 0.11 5% $11,068,750 ICL Iceni Gold 0.115 5% $22,942,857 DAF Discovery Alaska Ltd 0.026 4% $5,855,867 LLO Lion One Metals Ltd 1.06 4% $14,085,531 BUR Burleyminerals 0.135 4% $13,168,578 M2R Miramar 0.056 4% $5,990,047 BNR Bulletin Res Ltd 0.057 4% $16,147,511 GSM Golden State Mining 0.046 2% $8,598,973 JRL Jindalee Resources 1.875 2% $105,290,403 MMC Mitremining 0.3 2% $11,279,355 LIS Lisenergylimited 0.305 2% $49,774,256 CAI Calidus Resources 0.1675 2% $100,300,177 PAT Patriot Lithium 0.2075 1% $12,584,438 EMH European Metals Hldg 0.815 1% $101,214,646 EUR European Lithium Ltd 0.0835 1% $115,721,852 MIN Mineral Resources. 69.17 0% $13,426,943,662 ADV Ardiden Ltd 0.006 0% $16,130,012 AML Aeon Metals Ltd. 0.016 0% $17,542,410 AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203 INF Infinity Lithium 0.11 0% $50,885,130 LPD Lepidico Ltd 0.012 0% $91,659,669 PSC Prospect Res Ltd 0.115 0% $53,159,838 RLC Reedy Lagoon Corp. 0.008 0% $4,533,757 SYA Sayona Mining Ltd 0.13 0% $1,338,128,482 LEL Lithenergy 0.64 0% $65,926,400 AAJ Aruma Resources Ltd 0.04 0% $7,848,074 AM7 Arcadia Minerals 0.105 0% $9,875,261 AS2 Askarimetalslimited 0.26 0% $17,776,318 EMS Eastern Metals 0.055 0% $3,659,691 IMI Infinitymining 0.13 0% $10,036,180 RAG Ragnar Metals Ltd 0.021 0% $9,953,600 CTN Catalina Resources 0.005 0% $6,192,434 TEM Tempest Minerals 0.013 0% $6,588,681 LRS Latin Resources Ltd 0.37 0% $970,584,973 PNN Power Minerals Ltd 0.34 0% $24,865,656 KZR Kalamazoo Resources 0.145 0% $24,367,706 ENT Enterprise Metals 0.004 0% $2,997,884 PGD Peregrine Gold 0.27 0% $15,147,705 AVW Avira Resources Ltd 0.002 0% $4,267,580 A8G Australasian Metals 0.15 0% $7,818,074 SRZ Stellar Resources 0.013 0% $13,077,535 AOA Ausmon Resorces 0.004 0% $3,877,157 VMC Venus Metals Cor Ltd 0.12 0% $22,767,442 RGL Riversgold 0.013 0% $12,366,399 EVR Ev Resources Ltd 0.015 0% $14,039,761 MNS Magnis Energy Tech 0.1 0% $117,949,815 THR Thor Energy PLC 0.004 0% $5,837,166 MXR Maximus Resources 0.038 0% $12,169,719 LRD Lordresourceslimited 0.089 0% $3,304,759 WMC Wiluna Mining Corp 0.205 0% $74,238,031 ALY Alchemy Resource Ltd 0.014 0% $16,493,068 KTA Krakatoa Resources 0.028 0% $11,938,544 LNR Lanthanein Resources 0.017 0% $19,066,785 DAL Dalaroometalsltd 0.052 0% $2,697,500 TUL Tulla Resources 0 0% $118,262,971 LLL Leolithiumlimited 1.14 0% $1,125,447,873 CMD Cassius Mining Ltd 0.036 0% $17,882,215 VSR Voltaic Strategic 0.035 0% $15,795,507 SGQ St George Min Ltd 0.04 0% $33,862,999 ENT Enterprise Metals 0.004 0% $2,997,884 FIN FIN Resources Ltd 0.015 0% $9,315,530 FBM Future Battery 0.105 0% $44,923,739 XTC Xantippe Res Ltd 0.001 0% $11,480,100 LRD Lordresourceslimited 0.089 0% $3,304,759 TOR Torque Met 0.145 0% $13,968,871 SBR Sabre Resources 0.037 0% $10,784,989 MHC Manhattan Corp Ltd 0.009 0% $26,432,818 PMT Patriotbatterymetals 1.415 0% $492,929,669 WES Wesfarmers Limited 49.75 0% $56,506,842,737 LTR Liontown Resources 2.735 0% $6,034,180,306 IGO IGO Limited 13.25 0% $10,064,089,235 RIO Rio Tinto Limited 112.93 0% $42,118,191,640 PLS Pilbara Min Ltd 5.29 -1% $15,950,357,399 LLI Loyal Lithium Ltd 0.555 -1% $38,354,401 NMT Neometals Ltd 0.52 -1% $290,189,117 DRE Dreadnought Resources Ltd 0.0495 -1% $167,113,911 ESS Essential Metals Ltd 0.455 -1% $123,675,585 AZI Altamin Limited 0.078 -1% $30,945,623 PLL Piedmont Lithium Inc 0.73 -1% $283,310,850 AKE Allkem Limited 14.145 -1% $9,144,016,953 NVA Nova Minerals Ltd 0.33 -1% $70,648,137 MLS Metals Australia 0.0315 -2% $19,969,158 ANX Anax Metals Ltd 0.056 -2% $24,504,523 RAS Ragusa Minerals Ltd 0.055 -2% $7,985,532 EG1 Evergreenlithium 0.27 -2% $15,463,250 QPM Queensland Pacific 0.098 -2% $174,634,792 CRR Critical Resources 0.043 -2% $78,203,412 G88 Golden Mile Res Ltd 0.043 -2% $14,493,138 SLM Solismineralsltd 0.425 -2% $29,127,777 TYX Tyranna Res Ltd 0.0205 -2% $69,014,932 MQR Marquee Resource Ltd 0.038 -3% $12,897,593 GW1 Greenwing Resources 0.19 -3% $33,690,317 LPI Lithium Pwr Int Ltd 0.2775 -3% $179,332,705 WC8 Wildcat Resources 0.185 -3% $126,458,604 GL1 Globallith 1.615 -3% $431,256,710 VUL Vulcan Energy 3.91 -3% $672,687,910 AZS Azure Minerals 2.78 -3% $1,116,075,166 PL3 Patagonia Lithium 0.165 -3% $8,330,595 L1M Lightning Minerals 0.165 -3% $6,667,094 ASN Anson Resources Ltd 0.155 -3% $203,308,510 MTM MTM Critical Metals 0.062 -3% $6,210,990 TKM Trek Metals Ltd 0.09 -3% $45,860,168 CXO Core Lithium 0.565 -3% $1,087,232,324 TON Triton Min Ltd 0.026 -4% $42,156,601 MHK Metalhawk. 0.13 -4% $10,634,086 AX8 Accelerate Resources 0.025 -4% $9,869,646 STM Sunstone Metals Ltd 0.025 -4% $80,131,607 CHR Charger Metals 0.25 -4% $16,149,736 MAN Mandrake Res Ltd 0.043 -4% $26,944,196 INR Ioneer Ltd 0.2625 -5% $580,088,517 SRI Sipa Resources Ltd 0.021 -5% $5,019,479 REC Rechargemetals 0.205 -5% $22,700,662 EFE Eastern Resources 0.01 -5% $13,040,438 WR1 Winsome Resources 1.895 -5% $323,334,239 CY5 Cygnus Metals Ltd 0.28 -5% $65,864,808 YAR Yari Minerals Ltd 0.018 -5% $9,164,798 OCN Oceanalithiumlimited 0.245 -6% $13,799,890 TMB Tambourahmetals 0.24 -6% $10,778,647 TMB Tambourahmetals 0.24 -6% $10,778,647 GT1 Greentechnology 0.55 -6% $124,591,851 DYM Dynamicmetalslimited 0.235 -6% $8,750,000 SCN Scorpion Minerals 0.061 -6% $22,470,902 LM1 Leeuwin Metals Ltd 0.38 -6% $18,137,925 BM8 Battery Age Minerals 0.38 -6% $30,058,356 MM1 Midasmineralsltd 0.365 -6% $30,033,212 GLN Galan Lithium Ltd 0.79 -7% $292,937,420 MRR Minrex Resources Ltd 0.014 -7% $16,273,013 NKL Nickelxltd 0.07 -7% $6,482,646 ZEO Zeotech Limited 0.041 -7% $75,060,615 LIT Lithium Australia 0.051 -7% $67,165,542 KAI Kairos Minerals Ltd 0.025 -7% $70,764,629 LKE Lake Resources 0.16 -9% $248,927,824 EMC Everest Metals Corp 0.155 -9% $22,003,629 QXR Qx Resources Limited 0.031 -9% $30,493,319 EMC Everest Metals Corp 0.155 -9% $22,003,629 ARN Aldoro Resources 0.15 -9% $22,212,918 VKA Viking Mines Ltd 0.01 -9% $11,277,843 AGY Argosy Minerals Ltd 0.2675 -9% $414,300,212 WCN White Cliff Min Ltd 0.009 -10% $12,570,186 KGD Kula Gold Limited 0.015 -12% $6,344,603 1MC Morella Corporation 0.007 -13% $48,788,644 TKL Traka Resources 0.007 -13% $6,970,634 DLI Delta Lithium 0.72 -13% $431,124,118 LRV Larvottoresources 0.13 -13% $10,088,208 ZNC Zenith Minerals Ltd 0.073 -14% $29,952,375 DTM Dart Mining NL 0.032 -16% $6,546,915 A11 Atlantic Lithium 0.345 -16% $249,789,081 FRS Forrestaniaresources 0.086 -18% $9,777,853
WHO’S GOT NEWS OUT?
IRIS METALS (ASX:IR1)
Returning from a trading halt today, the Simon Lill-backed Iris has uncovered multiple, wide, high-grade and shallow lithium intersections at its 100%-owned Beecher project in South Dakota.
The Beecher pegmatite trend was mined sporadically between the 1920s and 1950s for lithium, beryllium, tantalum, mica and feldspar – and is now red hot again.
Assays from the first six drill holes of a 38-hole RC program are significant and show the project’s high potential, Iris says.
Additional assays from 32 holes are pending and are expected to be received in the coming weeks.
A highlight intersection was 60m @ 1.21% Li₂O (true width) from 16m in hole BDH-23-001, including 40m @ 1.40% Li₂O from 36m; and 22m @ 1.90% Li₂O from 46m.
PERPETUAL RESOURCES (ASX:PEC)
Brazil’s Minas Gerais lithium valley is popping at the moment, with exploration permits being snapped up left right and centre in one of the most exciting new hard rock lithium precincts in the world.
PEC acquired tenements in mid-July, and this expansion adds another 5,000ha so the project which is just 20km down the road from Canadian miner Sigma Lithium’s Grota do Cirilo lithium project.
Latin Resources Limited (ASX:LRS) Colina project is nearby too – as is Solis Minerals (ASX:SLM) Jaguar project, of which LRS has a sizeable ~18% stake in.
PEC MD Robert Benussi PEC said the company has moved quickly and decisively “to build a commanding land position in what has become the premier spodumene area in Brazil, which boasts several Tier 1 deposits either adjacent or on trend from the tenements we have secured”.
“We also are forging a close working relationship with the permit vendor group and several other in-country specialists, which gives Perpetual significant capacity to quickly assess these compelling exploration ground positions and ultimately quickly add value through exploration activities.”
SNAPSHOT
Lithium hunter Balkan Mining and Minerals (ASX:BMM) has received an exploration permit for the Gorge Lithium Project in the Georgia Lake pegmatite district of northern Ontario, Canada.
The exploration permit, granted by the Ontario Ministry of Mines, is effective for a period of three years and allows the company to begin siteworks for an extensive drill program.
And Red Mountain Mining (ASX:RMX) increasing its tenement hold at its Mustang lithium project after staking an additional 88 mining claims to the north of the project area.
The increase is ~7.35km2 and is prospective for claystone-hosted lithium the Monte Cristo Valley in Esmeralda County, Nevada.
The land increase follows a Phase 1 drilling campaign where mineralisation is currently along strike for a whopping 1.5km and is awaiting assay results.
The additional land-hold ups the total to 228 claims for almost 20km2.
