• Jindalee spinoff Dynamic listed today and dropped 2.5% 
  • Ioneer nabs $US700m loan from the U.S. Department of Energy
  • Westar to acquire Olga Rocks next door to its Parker Dome project

All your ASX lithium news for Monday, January 16.


A fresh lithium player hit the bourse today in Jindalee Resources (ASX:JRL) spinout Dynamic Metals (ASX:DYM), which IPO’d at $7m at $0.20 per share.

The company was trading down 2.5% at $0.19 per share at the time of writing, perhaps a sign that sky-high lithium sentiment really is falling to more normal levels?

DYM’s flagship project, Widgiemooltha, covers ~880km2 extending between Norseman and Kambalda. 

The region is well known for its numerous nickel and gold mines, but more recently has emerged in significance for its lithium prospectivity. 

“The fact that we had a strongly supported oversubscribed IPO even in volatile market conditions speaks volumes to the quality of our portfolio,” MD Karen Wellman says. 

“With this funding in place, Dynamic can focus on accelerating exploration across our key Widgiemooltha, Lake Percy and Deep Well projects and unlocking the value of these fantastic assets.”

RC drilling is planned at Widgiemooltha to target nickel, with regional mapping and sampling planned to generate lithium targets.

While DYM is trading down, one thing that’s holding steady (so far) is lithium prices.

They remain extraordinarily high by historical standards, upwards of US$74,000/t for both hydroxide and carbonate in China according to Fastmarkets MB, with combined CIF China, Japan and Korea prices still above US$80,000/t – after peaking around US$85,000/t last year.

And Benchmark Minerals Intelligence expect spodumene producers to renegotiate contracts at higher levels in early 2023.

Good news for miners like Pilbara Minerals (ASX:PLS) who made $8.5 million a day in the September Quarter and is expected to begin paying dividends this year thanks to its Battery Material Exchange spodumene auctions, which have fetched upwards of US$8000/t on a 6% Li2O basis.

DYM share price today:


Here’s how ASX lithium stocks were tracking today:

Code Company Price % Today Market Cap
IPT Impact Minerals 0.009 29% $17,369,594
INR Ioneer Ltd 0.555 22% $954,743,911
SRI Sipa Resources Ltd 0.043 19% $8,171,493
ARN Aldoro Resources 0.255 16% $24,840,710
WCN White Cliff Min Ltd 0.015 15% $9,792,707
PSC Prospect Res Ltd 0.13 13% $53,159,838
OCN Oceanalithiumlimited 0.49 11% $16,022,160
DTM Dart Mining NL 0.06 9% $8,559,131
AAJ Aruma Resources Ltd 0.075 7% $10,987,305
EVR Ev Resources Ltd 0.015 7% $13,005,777
FRS Forrestaniaresources 0.17 6% $9,742,608
PGD Peregrine Gold 0.475 6% $17,438,350
STM Sunstone Metals Ltd 0.042 5% $104,817,857
MXR Maximus Resources 0.043 5% $13,081,286
G88 Golden Mile Res Ltd 0.022 5% $4,296,385
KAI Kairos Minerals Ltd 0.024 4% $45,174,150
AX8 Accelerate Resources 0.025 4% $9,062,442
LRS Latin Resources Ltd 0.125 4% $262,642,104
INF Infinity Lithium 0.13 4% $57,824,012
LIS Lisenergylimited 0.39 4% $62,217,820
VSR Voltaic Strategic 0.026 4% $7,660,766
MNS Magnis Energy Tech 0.405 4% $378,429,278
VMC Venus Metals Cor Ltd 0.14 4% $24,040,622
RGL Riversgold 0.028 4% $25,527,628
BMM Balkanminingandmin 0.32 3% $13,879,324
WC8 Wildcat Resources 0.032 3% $20,522,705
LLO Lion One Metals Ltd 1.12 3% $12,550,530
CZL Cons Zinc Ltd 0.0185 3% $8,682,441
AZI Altamin Limited 0.08 3% $30,553,907
ZEO Zeotech Limited 0.045 2% $72,191,049
NVA Nova Minerals Ltd 0.685 2% $140,736,268
RDT Red Dirt Metals Ltd 0.465 2% $189,560,199
GLN Galan Lithium Ltd 1.18 2% $352,858,743
LIT Lithium Australia 0.05 2% $59,838,392
AOU Auroch Minerals Ltd 0.057 2% $23,959,327
WES Wesfarmers Limited 48.875 2% $54,601,735,456
VUL Vulcan Energy 7 1% $992,572,283
PLS Pilbara Min Ltd 4.035 1% $11,961,898,265
NMT Neometals Ltd 0.925 1% $508,521,882
AML Aeon Metals Ltd. 0.03 0% $32,892,019
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
EUR European Lithium Ltd 0.086 0% $124,634,569
LPD Lepidico Ltd 0.016 0% $122,204,340
LPI Lithium Pwr Int Ltd 0.485 0% $305,112,317
PLL Piedmont Lithium Inc 0.865 0% $366,292,900
RLC Reedy Lagoon Corp. 0.01 0% $5,667,196
TKL Traka Resources 0.007 0% $5,059,422
TON Triton Min Ltd 0.038 0% $52,545,799
GL1 Globallith 2.22 0% $473,244,628
LEL Lithenergy 0.8 0% $48,120,000
CHR Charger Metals 0.46 0% $20,108,609
AS2 Askarimetalslimited 0.685 0% $33,797,299
EMS Eastern Metals 0.08 0% $3,125,153
FG1 Flynngold 0.096 0% $7,519,060
GSM Golden State Mining 0.05 0% $5,850,710
IMI Infinitymining 0.275 0% $21,031,538
LRV Larvottoresources 0.17 0% $11,433,303
MMC Mitremining 0.285 0% $7,719,254
RAG Ragnar Metals Ltd 0.014 0% $5,308,588
CTN Catalina Resources 0.009 0% $11,146,382
TMB Tambourahmetals 0.11 0% $4,531,186
TEM Tempest Minerals 0.028 0% $14,133,453
SCN Scorpion Minerals 0.07 0% $24,199,433
ENT Enterprise Metals 0.009 0% $6,345,726
AVW Avira Resources Ltd 0.003 0% $6,401,370
BNR Bulletin Res Ltd 0.105 0% $30,722,066
CAI Calidus Resources 0.39 0% $170,793,365
EFE Eastern Resources 0.019 0% $21,959,280
MQR Marquee Resource Ltd 0.044 0% $14,397,130
SRZ Stellar Resources 0.013 0% $13,060,202
LSR Lodestar Minerals 0.0055 0% $9,561,405
AOA Ausmon Resorces 0.006 0% $5,143,736
VKA Viking Mines Ltd 0.008 0% $8,202,067
THR Thor Mining PLC 0.006 0% $8,731,877
M2R Miramar 0.08 0% $5,654,539
XTC Xantippe Res Ltd 0.006 0% $61,752,208
WMC Wiluna Mining Corp 0.205 0% $74,238,031
AUN Aurumin 0.064 0% $11,376,825
TYX Tyranna Res Ltd 0.024 0% $57,730,208
FTL Firetail Resources 0.145 0% $9,425,000
IR1 Irismetals 1.16 0% $72,766,800
DAL Dalaroometalsltd 0.09 0% $2,688,750
CMD Cassius Mining Ltd 0.019 0% $7,761,365
SGQ St George Min Ltd 0.07 0% $58,428,309
AKE Allkem Limited 12.445 0% $7,951,596,332
RIO Rio Tinto Limited 122 0% $45,396,030,810
MIN Mineral Resources. 88.19 0% $16,793,658,747
IGO IGO Limited 14.605 0% $11,101,546,139
ESS Essential Metals Ltd 0.4925 -1% $132,198,014
JRL Jindalee Resources 1.89 -1% $109,020,035
TUL Tulla Resources 0.3525 -1% $75,561,200
AZL Arizona Lithium Ltd 0.0675 -1% $166,090,315
LLL Leolithiumlimited 0.55 -1% $547,594,586
SYA Sayona Mining Ltd 0.2275 -1% $1,997,720,662
MRR Minrex Resources Ltd 0.0385 -1% $42,309,833
EMH European Metals Hldg 0.67 -1% $85,568,830
LKE Lake Resources 0.81 -2% $1,148,128,200
ZNC Zenith Minerals Ltd 0.25 -2% $89,585,217
QPM Queensland Pacific 0.1125 -2% $200,830,011
AM7 Arcadia Minerals 0.225 -2% $10,740,515
KTA Krakatoa Resources 0.044 -2% $15,511,946
A11 Atlantic Lithium 0.655 -2% $405,846,912
AGY Argosy Minerals Ltd 0.635 -2% $912,864,874
ASN Anson Resources Ltd 0.2 -2% $241,542,259
1MC Morella Corporation 0.014 -3% $88,429,416
DAF Discovery Alaska Ltd 0.028 -3% $6,502,806
QXR Qx Resources Limited 0.053 -4% $49,327,428
GT1 Greentechnology 0.905 -4% $179,294,089
BYH Bryah Resources Ltd 0.025 -4% $7,312,590
WR1 Winsome Resources 1.825 -4% $267,314,840
LTR Liontown Resources 1.4975 -4% $3,426,439,146
RAS Ragusa Minerals Ltd 0.115 -4% $17,111,854
MTM Mtmongerresources 0.0775 -4% $4,618,962
CRR Critical Resources 0.044 -4% $73,155,300
EPM Eclipse Metals 0.022 -4% $46,557,908
LNR Lanthanein Resources 0.022 -4% $22,576,238
PNN Power Minerals Ltd 0.54 -4% $40,818,325
EMC Everest Metals Corp 0.105 -5% $11,707,642
KZR Kalamazoo Resources 0.21 -5% $32,740,262
PAT Patriot Lithium 0.305 -5% $18,548,001
DRE Dreadnought Resources Ltd 0.1 -5% $323,352,213
PAM Pan Asia Metals 0.385 -5% $59,476,514
MM1 Midasmineralsltd 0.19 -5% $11,426,353
WML Woomera Mining Ltd 0.018 -5% $18,167,063
ALY Alchemy Resource Ltd 0.018 -5% $22,383,449
CXO Core Lithium 1.0725 -6% $2,096,213,932
CY5 Cygnus Gold Limited 0.415 -6% $80,904,653
GW1 Greenwing Resources 0.33 -6% $51,820,603
ADV Ardiden Ltd 0.008 -6% $22,850,851
MLS Metals Australia 0.048 -6% $30,958,846
A8G Australasian Metals 0.205 -7% $9,057,509
KGD Kula Gold Limited 0.027 -7% $10,475,146
LLI Loyal Lithium Ltd 0.37 -8% $20,996,000
NWM Norwest Minerals 0.066 -8% $15,991,732
RMX Red Mount Min Ltd 0.0045 -10% $9,941,744
TKM Trek Metals Ltd 0.071 -10% $28,751,662
LRD Lordresourceslimited 0.19 -16% $7,489,040
Wordpress Table Plugin

A total of 39 stocks were in the green, 49 were flat and 49 were red.


Who has news out today? 


The company has scored a $US700m loan to develop its flagship Rhyolite Ridge lithium-boron project from the U.S. Department of Energy (DOE).

The proposed DOE loan — coupled with Sibanye-Stillwater’s expected equity contribution to secure a 50% interest in the project — represents “a significant step towards a complete funding package for Rhyolite Ridge,” INR says.

The Energy Department’s Jigar Shah, who heads the Agency’s Loan Programs Office, told Reuters he was “more than excited” at the prospect of helping develop the Rhyolite Ridge Lithium-Boron Project, which the Energy Department says would produce enough lithium to build 370,000 EVs every year and slash gasoline use in the states by nearly 145 million gallons per annum.

That’s circa 550,884,708.68 litres a year.



Westar is acquiring the Olga Rocks project which is considered “highly prospective” for lithium, rare metals and gold and is conveniently adjacent to the company’s Parker Dome Project, bringing the total holdings in the region to 32.5km2. 

The Project contains numerous albite-rich pegmatites intercepted in historical drillholes which are consistent with observed outcrops and highlight the potential for up to 1km of strike length – but were never tested for lithium or rare metals.

An aggressive exploration program is planned to commence in Q2 2023. 

“This Project provides a unique opportunity to explore along strike of known gold mineralisation, in conjunction with a region of known LCT (lithium-Caesium-Tantalum) pegmatite swarms with the ability to fast track exploration,” MD Karl Jupp said.



Power Minerals has extended its Memorandum of Understanding (MoU) with Xiamen Xiangyu New Energy Co., Ltd (Xiamen Xiangyu) to conduct due diligence for the binding off-take, funding, logistics and offtake agreements for the company’s Salta Lithium Project, in Argentina.

Xiamen Xiangyu provides end-to-end supply chain solutions for battery metals, sourcing supply of lithium, nickel and cobalt for battery manufacturers. 

The final component of of the due diligence is the successful delivery of Preliminary Economic Assessment (PEA) at the Rincon Salar – expected to be completed H1, calendar 2023. 

“The successful completion of the Rincon PEA will be the final step in the due diligence process, and both parties are pleased to extend the MoU to allow for its completion,” MD Mena Habib said.



The company has discovered a lithium geochemistry anomaly on its Buena Vista Green Pig Iron Project ground in Nevada. 

The discovery is the first non-iron mineralisation identified on the property, and provides MGU with an opportunity to capitalise on the USA’ insatiable lithium demand with prospect less than 150km from the world’s largest lithium battery factory – Tesla’s giant lithium battery gigafactory in Sparks, Nevada.

The deposit is intruded by a number of dykes and the company speculates that pegmatite dykes also occur in the area (they’re the dominant source of lithium in Australia but far less common in the USA).

Rhyolites are a more common source of lithium in the western USA and Buena Vista occurs within a volcanic package that includes this lithology – though none has been mapped in the mine area. 

The company plans to explore for both styles of mineralisation.



Midas has defined lithium and gold target zones over 20km strike at its Newington project in WA.

“Significant work completed at Newington by the company in the second half of 2022 has been successful in delineating areas most prospective for spodumene bearing LCT pegmatites,” MD Mark Calderwood said.

“From the limited RC drilling undertaken, we have an understanding of the likely orientation and mineralogical variability of the pegmatites. 

“As part of the program some promising gold (up to 7.7g/t Au) results have been received in areas which do not appear to have been drilled. 

“The next stage of exploration is to undertake further mapping and drill hole planning within the high priority target areas with a combined strike of 20km.” 

INR, WSR, PNN, MGU and MM1 share prices today:



Oceana is planning to pick up  two advanced lithium exploration permits in the Solonópole project area in the State of Ceará, Brazil, that include multiple high-grade rock chip results across 500 metres of outcropping pegmatite, “pointing to lithium mineralisation potential of significant scale,” the company said.

The transaction consideration is $150,000 cash and 1.6m ordinary shares in Oceana, to be voluntarily escrowed for 12 months, and a further $50,000 cash and 600,000 Oceana shares subject to reaching a JORC resource milestone. 

The acquisition includes the Bom Jesus de Baixo pegmatite located on the western end of a 500m long series of pegmatite outcrops lying along the same strike. 

“If these outcrops are linked this pegmatite will be the largest known well zoned LCT (lithium-caesium-tantalum) pegmatite in the Solonópole project area known to date,” OCN says.

Planning is underway to commence drilling the Bom Jesus area along with other targets within the Solonópole project area in Q1 2023. 



The company has confirmed LCT pegmatites at its Kangaroo Hills project in WA, with a peak assay of 2.37% Li2O returned from rock chip sampling.

“The discovery of outcropping mineralised pegmatites at a different location to the earlier November 2022 discovery at the Kangaroo Hills Project is extremely exciting,” technical director Robin Cox said. 

“Just as exciting are the elevated pathfinder elements for LCT pegmatite in the weathered outcrops across the project. 

“The company now has confirmed three high priority targets that present the potential for significant strike length mineralisation and will be tested in the first phase of drilling at Kangaroo Hills”. 

The 3,000m RC program is expected to kick off later this month.



Galan has concluded a crucial long-term pumping test to support a key definitive feasibility study workstream at its flagship Hombre Muerto West lithium project in Argentina.

The second long-term test at Pata Pila resulted in an average extraction rate of 21 litres per second and lithium grades of 815mg/L to 866mg/L, confirming well-ready capacity for the 4,000 tonne per annum lithium carbonate equivalent pilot development

Additionally, the company noted that initial results at the Pucara del Salar exploration well (PS-01-22) indicates extensive fractured media with high-grade brine averaging 974mg/L.

Brine levels were constantly monitored through multiple monitoring wells, each of which was specifically designed to monitor the brine levels response of individual hydrogeological units.

All these confirmed that the project is ready to provide the brine flow and quality for the 4Ktpa LCE pilot development.

The company added that it will only need to drill another 10-12 production wells to deliver full capacity.



RGL has lodged applications for eight additional tenements and acquired a granted exploration licence, covering 151.7km2 of ground in the Pilbara region of WA, which would add to the 150.4km2 in granted exploration licences the company already holds in the region, including 99km2 at the Tambourah Lithium Project.

“With recent developments including Tianqi’s $136 million bid for Essential Metals and SQM’s recent $20 million investment in Azure Minerals highlighting the growing appetite for raw materials from safe jurisdictions such as WA, we believe the strategy we are pursuing will deliver significant reward for shareholders over time,” CEO Julian Ford said.

“The Pilbara and Southern Cross – Mt Holland regions are our focus area for increasing our tenement holdings and conducting on ground exploration to move each project to drilling.”

Lithium will be the primary focus of exploration on the new Pilbara ground, although the tenements are also prospective for gold and copper mineralisation. 


OCN, AOU, GLN and RGL share prices today:



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