• Liontown kicks Albermarle takeover offer to the curb 
  • Cygnus Metals to acquire the Sakami project and additional ground at the Auclair project from Canadian Mining House
  • Galan strengthens board with the appointment of South American based lithium executive

All your lithium news, Tuesday March 28.

 

Regarding the headlining question, Melbourne-based financial advisory firm, Seneca Financial Solutions CEO Luke Laretive thinks so.

He says the bid could be the start for a range of takeovers in the lithium sector, facilitated by more stable, lower prices giving bidders more confidence to act.

The offer from lithium giant Albermarle values the Kathleen Valley mine developer at $2.50 a share, more than it has ever been worth.

As one of the world’s largest lithium producers, Albermarle would pay $5.2 billion for control of Liontown (ASX:LTR), representing a 63% premium over the LTR’s last closing price on Monday.

But LTR kicked the offer to the curb, following the rejection of earlier non-binding indicative proposals from Albemarle at $2.35 per share on March 3  and $2.20 per share on October 20, 2022.

“We think Albemarle continues to acquire on market and push over the 10% mark in a bid to discourage competition, while working with Liontown management to come to an agreed higher price,” Laretive explains.

“We also expect additional competitive interest in Liontown, and other lithium names that meet our ‘strategic appeal’ include companies such as Vulcan Energy Resources and Galan Lithium in the mid-caps.

“MinRes would attract interest if it were to be spun and we also think Pilbara Minerals for global diversified miners like BHP or RIO makes a lot of sense.”

 

 

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE RETURN TODAY % MARKET CAP
LTR Liontown Resources 2.505 64% $3,352,643,315
LLI Loyal Lithium Ltd 0.28 33% $12,492,900
CY5 Cygnus Metals Ltd 0.225 22% $34,016,729
1MC Morella Corporation 0.0085 21% $42,690,063
STM Sunstone Metals Ltd 0.035 21% $75,992,946
CHR Charger Metals 0.3 20% $10,928,592
GL1 Globallith 1.27 18% $229,161,250
FRS Forrestaniaresources 0.095 17% $4,932,196
DTM Dart Mining NL 0.06 15% $8,092,269
CXO Core Lithium 0.8975 15% $1,446,913,099
AGY Argosy Minerals Ltd 0.46 15% $561,762,999
AKE Allkem Limited 11.525 14% $6,465,852,992
AML Aeon Metals Ltd. 0.025 14% $24,120,814
WR1 Winsome Resources 1.48 13% $213,072,760
KGD Kula Gold Limited 0.018 13% $5,779,391
PLS Pilbara Min Ltd 3.855 12% $10,313,166,505
NWM Norwest Minerals 0.029 12% $6,431,651
LLL Leolithiumlimited 0.49 11% $434,129,041
SCN Scorpion Minerals 0.069 11% $21,433,784
CRR Critical Resources 0.04 11% $57,411,175
GW1 Greenwing Resources 0.2 11% $26,773,561
SYA Sayona Mining Ltd 0.205 11% $1,643,809,828
LNR Lanthanein Resources 0.0155 11% $15,702,058
RDT Red Dirt Metals Ltd 0.32 10% $129,023,172
INR Ioneer Ltd 0.2975 10% $566,551,332
BYH Bryah Resources Ltd 0.022 10% $5,625,069
QXR Qx Resources Limited 0.033 10% $26,905,870
AS2 Askarimetalslimited 0.43 9% $19,551,524
MLS Metals Australia 0.038 9% $21,246,267
GLN Galan Lithium Ltd 1.025 8% $290,035,058
PAT Patriot Lithium 0.265 8% $14,917,438
AZL Arizona Lithium Ltd 0.0495 8% $112,355,213
IGO IGO Limited 12.88 8% $9,072,068,400
LEL Lithenergy 0.59 7% $33,082,500
PNN Power Minerals Ltd 0.31 7% $20,951,294
G88 Golden Mile Res Ltd 0.016 7% $3,068,846
TYX Tyranna Res Ltd 0.017 6% $38,502,805
OCN Oceanalithiumlimited 0.34 6% $12,024,480
MIN Mineral Resources. 81.04 6% $14,727,295,951
LKE Lake Resources 0.44 6% $589,277,052
PLL Piedmont Lithium Inc 0.81 6% $331,075,935
ASN Anson Resources Ltd 0.185 6% $213,299,990
ZNC Zenith Minerals Ltd 0.195 5% $65,065,618
LPI Lithium Pwr Int Ltd 0.295 5% $176,147,317
AAJ Aruma Resources Ltd 0.06 5% $8,946,806
INF Infinity Lithium 0.105 5% $46,259,209
LRS Latin Resources Ltd 0.105 5% $220,165,492
EFE Eastern Resources 0.0105 5% $12,419,465
GT1 Greentechnology 0.65 5% $118,257,804
QPM Queensland Pacific 0.11 5% $183,366,532
BMM Balkanminingandmin 0.22 5% $9,402,123
PAM Pan Asia Metals 0.33 5% $48,858,261
M2R Miramar 0.045 5% $3,359,235
VUL Vulcan Energy 5.51 4% $760,207,095
JRL Jindalee Resources 2.44 4% $134,840,570
TON Triton Min Ltd 0.029 4% $38,717,957
NMT Neometals Ltd 0.585 4% $312,298,764
GSM Golden State Mining 0.03 3% $3,393,412
LRV Larvottoresources 0.15 3% $9,751,935
KTA Krakatoa Resources 0.03 3% $9,996,588
A11 Atlantic Lithium 0.475 3% $278,641,164
EUR European Lithium Ltd 0.064 3% $92,332,829
TKM Trek Metals Ltd 0.067 3% $23,656,430
LIT Lithium Australia 0.034 3% $40,299,325
RAS Ragusa Minerals Ltd 0.072 3% $9,981,915
KAI Kairos Minerals Ltd 0.0195 3% $37,317,776
SGQ St George Min Ltd 0.052 2% $42,866,038
NVA Nova Minerals Ltd 0.46 1% $95,954,848
EMH European Metals Hldg 0.58 1% $72,448,511
DRE Dreadnought Resources Ltd 0.0605 1% $197,623,693
RIO Rio Tinto Limited 114.53 1% $42,225,844,343
ESS Essential Metals Ltd 0.485 1% $129,100,930
WES Wesfarmers Limited 49.455 0% $55,985,206,220
ADV Ardiden Ltd 0.007 0% $18,818,347
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
RLC Reedy Lagoon Corp. 0.006 0% $3,400,318
TKL Traka Resources 0.006 0% $4,336,647
AX8 Accelerate Resources 0.022 0% $8,307,239
AM7 Arcadia Minerals 0.195 0% $9,106,089
EMS Eastern Metals 0.062 0% $2,421,994
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
WCN White Cliff Min Ltd 0.009 0% $7,056,490
WML Woomera Mining Ltd 0.01 0% $9,561,612
MTM Mtmongerresources 0.1 0% $7,076,025
ENT Enterprise Metals 0.008 0% $5,640,646
MRR Minrex Resources Ltd 0.023 0% $24,951,953
SRZ Stellar Resources 0.011 0% $11,050,940
LSR Lodestar Minerals 0.005 0% $8,692,187
AOA Ausmon Resorces 0.005 0% $4,846,447
SRI Sipa Resources Ltd 0.023 0% $5,247,637
EPM Eclipse Metals 0.016 0% $32,448,957
EVR Ev Resources Ltd 0.014 0% $13,103,777
WC8 Wildcat Resources 0.029 0% $19,198,659
THR Thor Energy PLC 0.0045 0% $6,651,508
CZL Cons Zinc Ltd 0.016 0% $7,717,725
MXR Maximus Resources 0.038 0% $12,124,119
FBM Future Battery 0.067 0% $28,665,624
LRD Lordresourceslimited 0.22 0% $7,324,267
WMC Wiluna Mining Corp 0.205 0% $74,238,031
AUN Aurumin 0.03 0% $5,932,746
ZEO Zeotech Limited 0.057 0% $93,520,223
ALY Alchemy Resource Ltd 0.014 0% $16,493,068
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
CMD Cassius Mining Ltd 0.02 0% $8,169,858
TMB Tambourahmetals 0.086 -1% $3,583,756
PGD Peregrine Gold 0.385 -1% $15,287,813
LLO Lion One Metals Ltd 0.93 -2% $11,348,470
LIS Lisenergylimited 0.225 -2% $38,160,263
FG1 Flynngold 0.079 -2% $8,332,756
MQR Marquee Resource Ltd 0.019 -3% $6,380,546
EMC Everest Metals Corp 0.069 -3% $7,556,751
VMC Venus Metals Cor Ltd 0.155 -3% $28,492,589
BNR Bulletin Res Ltd 0.087 -3% $26,423,199
MM1 Midasmineralsltd 0.14 -3% $8,284,106
KZR Kalamazoo Resources 0.135 -4% $20,974,712
TUL Tulla Resources 0.24 -4% $80,451,001
CAI Calidus Resources 0.23 -4% $105,492,202
MNS Magnis Energy Tech 0.2525 -5% $267,737,843
LPD Lepidico Ltd 0.01 -5% $80,196,603
FTL Firetail Resources 0.1 -5% $6,825,000
IPT Impact Minerals 0.0095 -5% $24,813,706
IMI Infinitymining 0.175 -5% $14,148,489
VSR Voltaic Strategic 0.017 -6% $5,531,404
A8G Australasian Metals 0.16 -6% $6,998,984
ARN Aldoro Resources 0.185 -8% $22,582,463
PSC Prospect Res Ltd 0.15 -9% $76,272,811
XTC Xantippe Res Ltd 0.004 -11% $47,610,449
RGL Riversgold 0.015 -12% $16,072,951
RMX Red Mount Min Ltd 0.0035 -13% $9,087,404
AZI Altamin Limited 0.064 -14% $28,987,040
CTN Catalina Resources 0.006 -14% $8,669,408
VKA Viking Mines Ltd 0.01 -17% $12,303,101
AVW Avira Resources Ltd 0.002 -33% $6,401,370
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A total of 72 stocks finished in the green, 36 fell flat, and 29 tumbled into the red.

 

Who’s got news out?

CYGNUS METALS (ASX:CY5)

Cygnus is set to acquire the Sakami project and additional ground surrounding the Auclair project from Canadian Mining House.

Both projects are in the world-class James Bay lithium province, boast excellent infrastructure with year-round access through gravel roads, and consolidate Cygnus as one of the major lithium explorers in Quebec.

 

GALAN LITHIUM (ASX:GLN)

Galan has strengthened its board with the appointment of South American based lithium executive and former Sociedad Química y Minera de Chile senior executive Maria Claudia Pohl Ibanez.

“It is a great achievement for Galan to attract a person of the calibre of Claudia Pohl to its board,” GLN chairman Richard Homsany says.

“Claudia joins the Galan Board at a significant time on our way to becoming a producer and will bring a new and exciting perspective to the team.”

Meanwhile, founding GLN non-executive director Chris Chalwell has decided to retire on May 31 to align with his personal future endeavours.

 

LITHIUM PLUS MINERALS (ASX:LPM)

Final assay results returned from successful phase 2 drilling at the Lei prospect has confirmed mineralisation at the second shallow pegmatite intersected in hole BYLDD009.

The hole hit 5m at 0.51% Li2O from 83m, including 1m at 0.84% Li2O while spodumene was also intersected in samples taken from the north of the primary Lei pegmatite, extending the mineralised body vertically.

Development of a phase 3 infill and extensional program at Lei is nearing completion with drilling expected to begin in Q2.

 

CRITICAL RESOURCES (ASX:CRR)

Critical Resource has undergone a wee board restructure ahead of a series of investor briefings in Sydney and Melbourne with the resignation of Michael Leu as non-executive director.

CRR says it will continue to benefit from Leu’s vast experience and expertise with the Halls Peak project as he continues to provide consulting services to the company.

 

MIDAS MINERLS (ASX:MM1)

Midas has confirmed the presence of abundant coarse spodumene in known pegmatite outcrop at the 102km2 Greenbush lithium project in Canada.

The known pegmatite outcrop was first sampled by the Ontario Geological Survey (OGS) in 1965, and was located in the field during the trip, despite extensive snow cover.

Additional pegmatite outcrops were noted across the project area and Midas plans to begin mapping and sampling at Greenbush in May.

 

PROSPECT RESOURCES (ASX:PSC)

Exploratory phase-1 reverse circulation drilling has outlined a new, near-surface shallow-dipping discovery in the southern Brockmans zone of the wider Omaruru lithium project in Namibia.

With only limited drilling undertaken at Brockmans to date, PSC says the results at the Karlsburnn and Brockmans deposits indicate significant prospectivity and scope for identifying larger tonnages of higher-grade lithium mineralisation.

 

Lithium stocks share price today:

At Stockhead we tell it like it is. While Galan Lithium and Prospect Resources are Stockhead advertisers, they did not sponsor this article. 

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