- Could lithium prices be heading towards a rebound?
- Sayona, Piedmont restart production at North American Lithium project
- Green Technology Metals’ drilling intersects thick, high-grade pegmatites
All your lithium news, Friday March 31.
Lithium prices have been in freefall for several weeks now with lithium carbonate chemical prices crashing from US$85,000/t to about US$38,000/t due to increasing global supply and a recent pullback in Chinese demand.
There is likely more room for lithium prices to continue falling in the short-term but some analysts are already forecasting a rebound in the second half of this year, though the lofty peaks that we have seen might be a thing of the past.
Australian miners are clearly feeling at least a little bullish.
Unlike the moves to slash production the last time that lithium prices dived, steps are being taken to increase output.
This is clearly highlighted by Pilbara Minerals (ASX:PLS) approving earlier this week a plan to ultimately increase production from its Pilgangoora project to about 1Mtpa while Sayona Mining (ASX:SYA) and Piedmont Lithium (ASX:PLL) have restarted production from their North American Lithium project.
Sayona clearly has the eye on the long-term, with chief executive officer Keith Phillips saying that the project is positioned to be a key contributor to the electric vehicle and battery supply chains in Canada and the US.
After all, Tesla – unlike its Chinese counterparts – has been the recipient of an upbeat forecast by Barclays, which project the EV manufacturer delivering 425,000 vehicles globally in the first quarter of this year, just a little higher than the consensus estimate of 420,000 vehicles.
In the longer-term, Fastmarkets also expects lithium demand from EVs to increase at a compound annual growth rate of 20% to 2.28Mt of lithium carbonate equivalent in 2033, from 321,000t in 2022.
And while China is likely to boost lithium production, the market is expected to remain in deficit until 2026.
Here’s how ASX lithium stocks are tracking:
CODE COMPANY PRICE % TODAY MARKET CAP MQR Marquee Resource Ltd 0.024 26% $6,216,943 AVW Avira Resources Ltd 0.0025 25% $4,267,580 PNN Power Minerals Ltd 0.43 19% $26,008,503 VMC Venus Metals Cor Ltd 0.17 17% $25,821,409 A11 Atlantic Lithium 0.56 13% $299,842,122 IPT Impact Minerals 0.01 11% $22,332,335 PAT Patriot Lithium 0.3 11% $16,439,626 MRR Minrex Resources Ltd 0.0165 10% $16,273,013 CMD Cassius Mining Ltd 0.024 9% $8,986,844 RAS Ragusa Minerals Ltd 0.085 9% $11,122,705 CHR Charger Metals 0.37 9% $14,862,885 AML Aeon Metals Ltd. 0.025 9% $25,217,214 BMM Balkanminingandmin 0.25 9% $10,297,563 EFE Eastern Resources 0.013 8% $14,903,358 WCN White Cliff Min Ltd 0.0075 7% $5,488,381 WC8 Wildcat Resources 0.03 7% $18,536,636 M2R Miramar 0.045 7% $3,281,113 LPI Lithium Pwr Int Ltd 0.35 6% $207,602,195 RDT Red Dirt Metals Ltd 0.39 5% $164,615,771 LNR Lanthanein Resources 0.02 5% $21,309,936 FTL Firetail Resources 0.105 5% $6,500,000 PLL Piedmont Lithium Inc 0.885 5% $365,698,255 CRR Critical Resources 0.045 5% $68,574,459 QPM Queensland Pacific 0.115 5% $192,098,271 MNS Magnis Energy Tech 0.265 4% $257,634,528 PGD Peregrine Gold 0.4 4% $15,101,560 NWM Norwest Minerals 0.028 4% $6,679,023 AAJ Aruma Resources Ltd 0.062 3% $9,417,690 LLO Lion One Metals Ltd 0.96 3% $11,168,336 PSC Prospect Res Ltd 0.165 3% $73,961,514 PAM Pan Asia Metals 0.33 3% $49,633,789 A8G Australasian Metals 0.18 3% $7,204,836 ASN Anson Resources Ltd 0.185 3% $219,394,275 ARN Aldoro Resources 0.185 3% $20,324,217 RIO Rio Tinto Limited 120.4 3% $43,525,101,092 FG1 Flynngold 0.081 3% $8,127,009 MLS Metals Australia 0.041 3% $24,281,448 LLL Leolithiumlimited 0.5125 3% $493,328,456 BNR Bulletin Res Ltd 0.089 2% $25,542,426 NVA Nova Minerals Ltd 0.46 2% $94,900,399 CAI Calidus Resources 0.235 2% $101,096,693 VUL Vulcan Energy 5.75 2% $808,975,098 TUL Tulla Resources 0.265 2% $83,669,041 IGO IGO Limited 12.8 2% $9,534,001,766 EUR European Lithium Ltd 0.067 2% $98,289,786 LEL Lithenergy 0.67 2% $39,699,000 AZI Altamin Limited 0.0705 1% $27,224,314 FBM Future Battery 0.077 1% $32,516,230 WES Wesfarmers Limited 50.36 1% $56,427,463,267 AS2 Askarimetalslimited 0.44 1% $23,271,425 MIN Mineral Resources. 80.82 1% $15,407,180,271 ESS Essential Metals Ltd 0.49 1% $129,769,847 DRE Dreadnought Resources Ltd 0.0645 1% $210,798,606 GLN Galan Lithium Ltd 1.08 0% $329,934,060 ADV Ardiden Ltd 0.007 0% $18,818,347 1MC Morella Corporation 0.009 0% $54,887,224 AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203 EMH European Metals Hldg 0.62 0% $78,118,395 JRL Jindalee Resources 2.62 0% $150,332,891 LPD Lepidico Ltd 0.011 0% $84,015,489 RLC Reedy Lagoon Corp. 0.008 0% $4,533,757 TKL Traka Resources 0.006 0% $4,336,647 TON Triton Min Ltd 0.031 0% $42,866,309 AX8 Accelerate Resources 0.025 0% $9,440,044 AM7 Arcadia Minerals 0.21 0% $9,806,557 BYH Bryah Resources Ltd 0.022 0% $6,187,576 EMS Eastern Metals 0.062 0% $2,421,994 FRS Forrestaniaresources 0.091 0% $5,541,109 GSM Golden State Mining 0.036 0% $4,212,511 LRV Larvottoresources 0.155 0% $10,424,482 MMC Mitremining 0.275 0% $10,514,653 RAG Ragnar Metals Ltd 0.015 0% $5,687,773 TEM Tempest Minerals 0.021 0% $10,636,560 EMC Everest Metals Corp 0.069 0% $7,343,885 KGD Kula Gold Limited 0.016 0% $5,779,391 LRS Latin Resources Ltd 0.115 0% $253,190,316 KZR Kalamazoo Resources 0.125 0% $18,727,422 MTM Mtmongerresources 0.11 0% $7,783,627 ENT Enterprise Metals 0.008 0% $5,640,646 KAI Kairos Minerals Ltd 0.018 0% $35,353,683 RMX Red Mount Min Ltd 0.004 0% $9,087,404 SRZ Stellar Resources 0.0105 0% $10,548,625 LSR Lodestar Minerals 0.005 0% $8,692,187 VKA Viking Mines Ltd 0.012 0% $12,303,101 SRI Sipa Resources Ltd 0.023 0% $5,247,637 RGL Riversgold 0.017 0% $16,072,951 ZNC Zenith Minerals Ltd 0.165 0% $58,031,497 EPM Eclipse Metals 0.018 0% $36,505,076 EVR Ev Resources Ltd 0.015 0% $14,039,761 THR Thor Energy PLC 0.005 0% $7,390,564 CZL Cons Zinc Ltd 0.017 0% $8,200,083 XTC Xantippe Res Ltd 0.004 0% $42,320,399 LLI Loyal Lithium Ltd 0.32 0% $19,036,800 LRD Lordresourceslimited 0.205 0% $7,427,585 WMC Wiluna Mining Corp 0.205 0% $74,238,031 LIS Lisenergylimited 0.26 0% $43,137,689 KTA Krakatoa Resources 0.029 0% $9,996,588 TYX Tyranna Res Ltd 0.019 0% $45,722,081 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 0.065 0% $23,656,430 OCN Oceanalithiumlimited 0.32 0% $12,024,480 PLS Pilbara Min Ltd 3.98 0% $11,962,073,941 AKE Allkem Limited 11.97 0% $7,671,026,775 AGY Argosy Minerals Ltd 0.4425 -1% $624,961,337 LTR Liontown Resources 2.575 -1% $5,693,997,499 NMT Neometals Ltd 0.595 -1% $331,644,706 CXO Core Lithium 0.86 -1% $1,613,864,611 INR Ioneer Ltd 0.295 -2% $629,501,480 SGQ St George Min Ltd 0.053 -2% $45,387,570 AZL Arizona Lithium Ltd 0.052 -2% $142,621,183 GT1 Greentechnology 0.72 -2% $140,192,719 GW1 Greenwing Resources 0.205 -2% $31,235,821 SYA Sayona Mining Ltd 0.2 -2% $1,821,518,999 MM1 Midasmineralsltd 0.19 -3% $11,140,694 QXR Qx Resources Limited 0.035 -3% $32,287,044 STM Sunstone Metals Ltd 0.035 -3% $94,336,071 LIT Lithium Australia 0.033 -3% $41,520,517 GL1 Globallith 1.3975 -3% $306,969,489 SCN Scorpion Minerals 0.065 -3% $23,162,315 AUN Aurumin 0.03 -3% $6,130,505 TMB Tambourahmetals 0.088 -4% $3,789,719 CY5 Cygnus Metals Ltd 0.22 -4% $42,291,069 MXR Maximus Resources 0.04 -5% $13,400,342 VSR Voltaic Strategic 0.018 -5% $5,838,704 LKE Lake Resources 0.445 -5% $668,549,012 IMI Infinitymining 0.175 -5% $14,148,489 INF Infinity Lithium 0.155 -6% $76,327,695 G88 Golden Mile Res Ltd 0.014 -7% $3,951,484 ZEO Zeotech Limited 0.054 -7% $95,160,929 WR1 Winsome Resources 1.69 -7% $295,709,344 WML Woomera Mining Ltd 0.011 -8% $11,473,935 AOA Ausmon Resorces 0.0045 -10% $4,846,447 DTM Dart Mining NL 0.05 -11% $8,714,751 ALY Alchemy Resource Ltd 0.013 -13% $17,671,144 CTN Catalina Resources 0.005 -17% $7,430,921
Far more lithium companies swam rather than sunk today with 53 companies in the green, and 32 companies posting share-price losses. The remaining 52 companies were unchanged.
WHO’S GOT NEWS OUT?
Green Technology Metals (ASX:GT1)
Maiden assays for Green Technology’s first diamond holes at the Root Bay prospect within its Root project in Ontario, Canada, has intersected thick, high-grade pegmatites.
Hole RB-23-001 returned 67.1m at 1.13% Li2O from 60.9m along with two other intersections of 7.3m at 1.44% Li2O from 162m and 5.3m at 1.34% Li2O from 174.3m while RB-23-003 returned 12.1m at 1.30% Li2O from 67.4m.
The third hole returned 6.6m at 1.47% Li2O from 129.2m, 4.5m at 1.34% Li2O from 140.5m and 2.1m at 1.09% Li2O from 149.0m.
Green Technology has completed 17 of the 20 holes planned for its phase one drill program with assays pending for 14 holes.
Iris Metals (ASX:IR1)
Iris has acquired the historical Longview and Beecher mines in South Dakota that are located within existing granted mining licences.
This complements its previous acquisitions of the Black Diamond Mine and Beecher Extended prospect, effectively giving it control of the historical Beecher lithium mining trend.
Additionally, the company will also acquire the historical Edison lithium mine and an additional 313 BLM claims in the Keystone and Tinton districts of South Dakota.
Together, these acquisitions make Iris the largest holder of lithium mining claims in South Dakota.
Lightning Minerals (ASX:L1M)
Lightning Minerals has started an infill program to test an 8km lithium-in-soil anomaly that was identified by reconnaissance soil sampling program at its Dundas South project in Western Australia.
Up to 2,200 samples will be collected within E63/2000 and E63/1993 to further refine the anomalous area and potentially define drill-ready targets.
Reverse circulation and aircore drilling is expected to start in the near-term, with drill contractor procurement still underway.
Manhattan Corporation (ASX:MHC)
The company has completed the acquisition of the Chebogue lithium project in the emerging hard rock lithium jurisdiction in Nova Scotia, Canada.
Chebogue covers a 1,200km2 area that encompasses over 100km of prospective lithium pegmatite strike length.
Data compilation and remote-sensing data interpretation have prepared detailed layer maps for planned field work to commence in April 2023. This will in turn delineate prospective lithium-bearing pegmatite zones.
Initial exploration will focus along strike both north and south of Champlain Mineral Ventures’ Brazil Lake lithium project.