• Ford takes gung-ho approach to reaching 600,000 EVs by end 2023 
  • INR signs signs binding lithium offtake agreement with Ford
  • GL1 returns intersections of lithium bearing pegmatites from a recent drill program at the Manna Lithium Project

Here’s all your ASX lithium news for Friday, July 22. 

 

US car manufacturer Ford is taking a gung-ho approach to reaching its target annual run rate of 600,000 electric vehicles by late 2023 and more than 2m at the end of 2026.

The company plans to secure 100% of the annual battery cell capacity needed (or 60 gigawatt hours) by working with leading battery companies around the globe and suppliers of raw materials such as ASX-listed, US focused lithium explorer Ioneer (ASX:INR). 

We’ll talk more about that deal later because Ford has also come out saying that Chinese battery manufacturer, Contemporary Amperex Technology Co (CATL) will provide full lithium iron phosphate (LFP) battery packs for its Mustang Mach-E models in North America, starting next year as well as F-150 Lightnings in early 2024.

 

The car manufacturer is leveraging its long-standing connection with LG Energy Solution (LGES) and its strategic relationship with SK On to meet its battery capacity target for late 2023.

Long-time supplier LGES has scaled quickly and doubled its capacity at its Wroclaw, Poland, facility to support incremental nickel-cobalt-manganese (NCM) cell production for Mustang Mach-E and E-Transit models.

And SK On has installed capacity to support the scaling of Ford’s high-volume F-150 Lightning and E-Transits through late 2023 – scaling NCM cell production beyond earlier-planned levels from its Atlanta facility and providing new battery cell capacity from its Hungary operation.

The car manufacturer is building on agreements tied to its 600,000-run rate milestone and is taking them even further, having already sourced roughly 70% of the battery cell capacity it needs to support an annual global run rate of more than 2 million EVs by late 2026.

Ford and CATL – the world’s largest battery producer – have signed a separate non-binding MOU to explore a cooperation for supplying batteries in Ford’s markets across China, Europe and North America.

The company says it has also sourced most of the nickel needed through 2026 and beyond.

Stockhead’s Emma Davies has the latest on Ford’s prototype robot charging station, which drivers can operate via their smartphone from inside their electric vehicle.

Read about it here. 

 

Here’s how ASX lithium stocks were tracking today:

CODE COMPANY PRICE 1 MONTH RETURN % 1 WEEK RETURN % RETURN TODAY % MARKET CAP
M2R Miramar 0.1 12% 11% 15% $5,584,239.68
IPT Impact Minerals 0.008 0% 14% 14% $17,369,593.89
AUN Aurumin 0.16 28% 14% 14% $15,291,255.28
KGD Kula Gold Limited 0.033 22% 6% 14% $6,240,093.33
MLS Metals Australia 0.052 13% 13% 13% $26,129,664.79
SHH Shree Minerals Ltd 0.009 29% 13% 13% $9,907,895.14
KZR Kalamazoo Resources 0.225 2% -6% 13% $29,038,874.80
MRR Minrex Resources Ltd 0.038 9% 15% 12% $36,044,996.67
TYX Tyranna Res Ltd 0.02 25% 0% 11% $27,582,492.01
ZNC Zenith Minerals Ltd 0.315 17% 21% 11% $98,257,249.52
LRD Lordresourceslimited 0.215 26% 5% 10% $6,198,001.10
ZEO Zeotech Limited 0.054 4% 26% 9% $75,483,315.77
LEL Lithenergy 0.85 20% 25% 9% $35,217,000.00
BMM Balkanminingandmin 0.2 0% 5% 8% $6,058,750.00
EMS Eastern Metals 0.135 4% -10% 8% $4,450,000.00
EFE Eastern Resources 0.028 27% 8% 8% $25,855,352.41
IR1 Irismetals 0.295 23% 16% 7% $16,396,875.00
AML Aeon Metals Ltd. 0.03 36% 3% 7% $27,751,677.04
QXR Qx Resources Limited 0.032 39% 19% 7% $25,780,869.63
MXR Maximus Resources 0.05 9% 9% 6% $14,941,571.10
LRV Larvottoresources 0.2175 1% 12% 6% $8,514,162.50
RLC Reedy Lagoon Corp. 0.019 19% 12% 6% $10,033,684.42
GL1 Globallith 1.155 -2% 7% 5% $173,774,590.32
LRS Latin Resources Ltd 0.082 28% 17% 5% $151,724,802.84
LLL Leolithiumlimited 0.43 0% 12% 5% $404,529,333.92
TKM Trek Metals Ltd 0.067 6% 22% 5% $19,879,049.60
BNR Bulletin Res Ltd 0.115 -12% 5% 5% $32,185,021.00
DAF Discovery Alaska Ltd 0.048 -4% 9% 4% $10,314,796.11
AS2 Askarimetalslimited 0.245 -13% 9% 4% $10,591,278.45
INR Ioneer Ltd 0.515 32% 14% 4% $1,038,209,513.22
INF Infinity Lithium 0.135 17% 23% 4% $53,951,698.58
PGD Peregrine Gold 0.44 13% 5% 4% $16,271,834.33
LPD Lepidico Ltd 0.031 24% 15% 3% $195,215,145.99
BYH Bryah Resources Ltd 0.032 3% 14% 3% $7,012,422.43
PNN Power Minerals Ltd 0.48 28% 17% 3% $28,605,342.23
AX8 Accelerate Resources 0.033 18% 14% 3% $8,654,684.77
NWM Norwest Minerals 0.033 18% 18% 3% $5,779,436.38
MQR Marquee Resource Ltd 0.072 16% 9% 3% $22,093,230.60
VUL Vulcan Energy 7.28 31% 25% 3% $1,014,813,931.08
WR1 Winsome Resources 0.195 -7% 3% 3% $25,671,658.86
GW1 Greenwing Resources 0.225 10% -4% 2% $27,114,416.78
CHR Charger Metals 0.48 23% 9% 2% $15,313,086.45
GSM Golden State Mining 0.049 11% 17% 2% $5,588,223.31
NMT Neometals Ltd 1.05 12% 11% 2% $564,827,687.88
KTA Krakatoa Resources 0.06 9% 28% 2% $20,337,885.10
CAI Calidus Resources 0.62 -2% -7% 2% $248,776,884.38
LPI Lithium Pwr Int Ltd 0.4725 29% 18% 2% $162,352,354.32
PSC Prospect Res Ltd 1.015 5% 3% 2% $462,259,462.00
GLN Galan Lithium Ltd 1.125 6% 15% 1% $337,883,291.82
AKE Allkem Limited 10.23 1% 3% 1% $6,446,723,249.46
OCN Oceanalithiumlimited 0.47 0% 29% 1% $15,589,125.00
FG1 Flynngold 0.1 -5% 0% 1% $6,342,043.95
TUL Tulla Resources 0.54 10% 2% 1% $85,716,026.52
RIO Rio Tinto Limited 96.3 -7% 0% 0% $35,573,649,787.62
WES Wesfarmers Limited 47.64 11% 5% 0% $53,959,457,116.78
AGY Argosy Minerals Ltd 0.37 17% 12% 0% $501,738,865.19
1MC Morella Corporation 0.017 0% 0% 0% $87,995,637.76
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,203.44
ESS Essential Metals Ltd 0.43 21% 18% 0% $105,989,592.75
PLL Piedmont Lithium Inc 0.545 -22% 7% 0% $287,526,086.00
TKL Traka Resources 0.006 0% 20% 0% $4,132,647.37
TON Triton Min Ltd 0.023 0% 44% 0% $28,952,036.07
ARN Aldoro Resources 0.145 0% 4% 0% $14,418,410.97
PAM Pan Asia Metals 0.38 -17% -1% 0% $28,089,691.96
DTM Dart Mining NL 0.062 17% -5% 0% $8,386,129.92
IMI Infinitymining 0.13 -4% -4% 0% $7,475,000.00
MMC Mitremining 0.125 0% 0% 0% $3,385,637.50
RAG Ragnar Metals Ltd 0.037 -3% -5% 0% $14,029,840.89
TMB Tambourahmetals 0.16 10% 7% 0% $6,590,815.68
TEM Tempest Minerals 0.045 22% -4% 0% $22,714,477.92
TSC Twenty Seven Co. Ltd 0.003 0% 0% 0% $7,982,441.72
WCN White Cliff Min Ltd 0.014 -18% 17% 0% $9,150,447.07
MTM Mtmongerresources 0.11 -8% -8% 0% $4,126,103.63
SCN Scorpion Minerals 0.068 -6% -3% 0% $22,564,521.06
AZI Altamin Limited 0.096 1% 1% 0% $37,604,808.19
ENT Enterprise Metals 0.01 -17% -9% 0% $6,446,468.55
KAI Kairos Minerals Ltd 0.023 28% 0% 0% $45,128,150.29
STM Sunstone Metals Ltd 0.051 28% 21% 0% $132,418,767.37
RMX Red Mount Min Ltd 0.007 17% 8% 0% $11,496,547.01
RDT Red Dirt Metals Ltd 0.35 -3% -1% 0% $106,594,049.10
SRZ Stellar Resources 0.016 -6% 7% 0% $13,428,842.02
AOA Ausmon Resorces 0.006 20% 20% 0% $5,143,736.06
VKA Viking Mines Ltd 0.007 17% 17% 0% $7,176,809.02
SRI Sipa Resources Ltd 0.038 0% -5% 0% $7,790,942.51
VMC Venus Metals Cor Ltd 0.17 6% 6% 0% $27,213,376.11
RGL Riversgold 0.028 -3% 4% 0% $21,178,527.97
G88 Golden Mile Res Ltd 0.027 -29% -4% 0% $5,500,780.58
EVR Ev Resources Ltd 0.03 15% 11% 0% $27,779,522.13
THR Thor Mining PLC 0.01 25% 11% 0% $10,689,009.73
CZL Cons Zinc Ltd 0.019 0% -5% 0% $6,903,798.45
MM1 Midasmineralsltd 0.195 5% 11% 0% $11,140,693.98
XTC Xantippe Res Ltd 0.008 14% 14% 0% $63,689,188.51
MMG Monger Gold Ltd 0.23 0% 7% 0% $9,209,200.00
WMC Wiluna Mining Corp 0.205 -31% 5% 0% $74,238,030.68
ALY Alchemy Resource Ltd 0.018 20% 20% 0% $17,155,333.03
FTL Firetail Resources 0.235 -19% 18% 0% $14,518,887.50
LNR Lanthanein Resources 0.016 0% 7% 0% $13,405,209.12
DAL Dalaroometalsltd 0.1 5% 0% 0% $2,987,500.00
CY5 Cygnus Gold Limited 0.15 -3% 3% 0% $17,697,797.25
MIN Mineral Resources. 47.26 -4% 1% -1% $9,006,015,695.55
LIS Lisenergylimited 0.77 67% 32% -1% $128,583,494.93
CXO Core Lithium 1.0575 5% 18% -1% $1,845,874,737.54
JRL Jindalee Resources 2.58 -11% -1% -1% $149,185,311.60
EMH European Metals Hldg 0.78 19% 24% -1% $94,691,664.14
SYA Sayona Mining Ltd 0.1875 34% 34% -1% $1,566,883,007.30
EUR European Lithium Ltd 0.074 35% 10% -1% $103,836,855.98
PLS Pilbara Min Ltd 2.525 19% 3% -1% $7,620,731,863.04
LIT Lithium Australia 0.072 4% 1% -1% $75,584,880.73
AOU Auroch Minerals Ltd 0.063 -13% 5% -2% $23,660,915.14
IGO IGO Limited 9.915 -5% 0% -2% $7,640,832,233.17
NVA Nova Minerals Ltd 0.72 20% 2% -2% $132,448,679.48
A8G Australasian Metals 0.23 12% 15% -2% $9,675,066.09
GT1 Greentechnology 0.685 -2% 9% -2% $128,988,750.10
CRR Critical Resources 0.043 -7% 13% -2% $65,472,670.52
RAS Ragusa Minerals Ltd 0.074 -14% -14% -3% $9,555,947.86
LTR Liontown Resources 1.205 18% 24% -3% $2,718,359,245.52
AM7 Arcadia Minerals 0.145 -28% 4% -3% $7,004,683.80
QPM Queensland Pacific 0.14 40% 8% -3% $226,723,904.00
ASN Anson Resources Ltd 0.13 24% 13% -4% $138,768,165.23
DRE Dreadnought Resources Ltd 0.049 14% 0% -4% $144,772,861.10
LKE Lake Resources 0.715 -26% 18% -4% $1,035,333,879.97
AZL Arizona Lithium Ltd 0.081 -12% -5% -5% $189,847,244.15
EPM Eclipse Metals 0.02 0% 0% -5% $40,343,654.67
ADV Ardiden Ltd 0.0085 6% 42% -6% $24,015,018.20
FRS Forrestaniaresources 0.15 3% 11% -6% $4,973,808.64
AAJ Aruma Resources Ltd 0.064 -4% 7% -7% $10,830,343.71
WC8 Wildcat Resources 0.024 -14% -4% -8% $16,777,090.90
MNS Magnis Energy Tech 0.325 8% 14% -8% $343,102,291.80
WML Woomera Mining Ltd 0.0145 -15% -15% -9% $10,989,329.06
AVW Avira Resources Ltd 0.0035 0% 17% -13% $8,475,160.00
LSR Lodestar Minerals 0.006 0% 0% -14% $12,169,061.44

55 lithium companies have ended the day in green territory, 46 have fallen flat while another 32 are down in the red.

 

WHO’S GOT NEWS OUT?

IONEER (ASX:INR)

Under the Ford agreement, INR will supply Ford with lithium carbonate from its Rhyolite Ridge Lithium-Boron Project in Nevada – around 7,000tpa of it over a five-year term starting in 2025.

Ford intends to utilise ioneer’s lithium carbonate to produce batteries for use in Ford electric vehicles through BlueOval SK, the Ford-SK On battery manufacturing joint venture.

INR is expected to produce an annual average of approximately 20,600 tonnes of lithium carbonate/hydroxide along with approximately 174,400 tonnes of boric acid per year over the Rhyolite Ridge project’s 26-year life.

 

GLOBAL LITHIUM RESOURCES (ASX:GL1)

GL1 has returned significant intersections of lithium bearing pegmatites from a recent drill program at the Manna Lithium Project, 100km east of Kalgoorlie in Western Australia.

The Diamond Drilling (DD) campaign is showing that the Manna Lithium bearing pegmatites extend up to 150m down dip past the current resource outline, with even deeper DD planned to test the extent of the known deposit at depth.

An initial 4,000m DD program commenced on schedule in June and is being undertaken by experienced drilling contractor, Mt Magnet Drilling.

GL1 says the RC drilling program’s standout result was from a single hole drilled within the known resource returning multiple wide LCT pegmatite intercepts of greater than 10m, further confirming the potential of the Manna Lithium deposit.

The company is expecting the DD crew to start a double shift roster in the next 10 days, further accelerating the results from the drilling program.