• Alchemy Resources and Larvotto raise funds to expedite lithium drilling
  • Metalicity kicks off exploration at Mt Surprise to follow up 3.3% lithium hit
  • Resolution Minerals makes strategic placement to raise $1.03m

All your ASX lithium news, Tuesday October 11. 

 

Lithium ASX juniors are rapidly accelerating exploration efforts in the face of the world’s growing raw material challenge, which sees demand for lithium-ion batteries set to grow six-fold by 2032.

According to Benchmark Mineral Intelligence, to meet the world’s lithium requirements, another 74 new mines with an average size of 45,000t will need to come online by 2035.

While the next crop of lithium producers – like Core (ASX:CXO), Sayona (ASX:SYA) and Piedmont (ASX:PLL) will likely grab a piece of that pie, beyond the next couple of years the baton will then fall to the small caps in the space.

~$31.45m market cap explorer Alchemy Resources (ASX:ALY) made the headlines at the end of September for winning a ballot for new ground along strike of Global Lithium Resources’ (ASX:GL1) 9.9Mt Manna lithium deposit and adjacent to Breaker Resources’ (ASX:BRB) 1.7Moz Lake Roe gold project.

Today, the company revealed a $5.5m capital raising to fund drilling across its high priority lithium assets in WA (Karonie and Lake Rebecca) as well the advanced suite of base and battery metals projects in NSW.

After beating multiple parties for the 24.8sqkm exploration licence at the Karonie Lithium and Gold Project near Kalgoorlie, ALY said it plans to conduct a 3,000-5,000m drilling program initially targeting the nearby Hickory prospect which has seen limited drill testing with modern exploration methods.

Larvotto Resources (ASX:LRV) is another example of a junior lithium stock that has secured funds to expedite exploration across its Eyre Project in WA after bringing on a North American institutional fund to its register.

 

This morning the company signed a royalty, equity and off-take agreement with Canadian-based Lithium Royalty Corp who will acquire a 1% gross revenue royalty, payable if any lithium is extracted or sold by LRV from Eyre.

They will also subscribe for ~11m new shares at an issue price of $0.18 to raise $2m – a small 10% discount to 10-day VWAP — and acquire a 20% life of mine off-take right for lithium from Eyre for an extra $700,000.

 

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE % TODAY % WEEK % MONTH % YEAR MARKET CAP
SHH Shree Minerals Ltd 0.013 44% 63% 63% 30% $11,146,382
LRV Larvottoresources 0.265 29% 56% 18% 0% $8,514,163
AAJ Aruma Resources Ltd 0.075 15% 39% 12% -6% $10,202,498
VKA Viking Mines Ltd 0.008 14% 14% 0% -56% $7,176,809
CZL Cons Zinc Ltd 0.025 14% 39% 4% 4% $10,184,272
EMH European Metals Hldg 0.73 10% 6% -9% -46% $79,593,642
GSM Golden State Mining 0.043 8% 5% -17% -69% $4,680,568
AS2 Askarimetalslimited 0.395 7% 27% 8% 80% $16,827,275
IPT Impact Minerals 0.008 7% 14% 14% -48% $18,610,279
GW1 Greenwing Resources 0.39 5% 13% 39% 39% $46,696,021
LPD Lepidico Ltd 0.02 5% -5% -33% -9% $123,636,633
AKE Allkem Limited 14.88 5% 13% -7% 79% $9,022,861,917
EUR European Lithium Ltd 0.082 5% 5% -6% -13% $109,218,656
SCN Scorpion Minerals 0.073 4% -8% -11% 22% $23,228,183
BYH Bryah Resources Ltd 0.025 4% 0% -7% -53% $6,702,083
KGD Kula Gold Limited 0.0375 4% 29% 79% -21% $12,103,629
NVA Nova Minerals Ltd 0.705 4% 14% -20% -36% $124,889,667
GL1 Globallith 2.3 4% 12% 5% 497% $352,310,128
PLL Piedmont Lithium Inc 0.865 4% 5% -8% 16% $440,521,618
LRD Lordresourceslimited 0.3 3% 7% 20% 0% $9,652,540
MIN Mineral Resources. 73.1 3% 11% 2% 68% $13,438,343,043
AX8 Accelerate Resources 0.036 3% 3% 0% -16% $9,466,061
INF Infinity Lithium 0.19 3% 0% 0% 65% $76,962,417
IR1 Irismetals 1.715 3% -16% 6% 600% $104,759,100
DTM Dart Mining NL 0.08 3% 13% -20% -41% $12,075,192
LRS Latin Resources Ltd 0.1025 3% 11% -15% 156% $196,750,844
CHR Charger Metals 0.485 2% 8% -8% 10% $20,712,867
IGO IGO Limited 15.645 2% 13% 9% 78% $11,616,488,251
CXO Core Lithium 1.1625 2% 10% -27% 184% $2,091,353,599
MRR Minrex Resources Ltd 0.058 2% 38% 5% 222% $61,729,059
LLL Leolithiumlimited 0.585 2% 10% -7% 0% $567,327,724
CRR Critical Resources 0.062 2% 7% 32% 170% $90,890,930
PLS Pilbara Min Ltd 5.28 1% 16% 17% 169% $15,550,470,012
LIS Lisenergylimited 0.515 1% 2% -11% -79% $84,616,235
OCN Oceanalithiumlimited 0.52 1% 0% -18% 0% $17,265,375
LKE Lake Resources 1 1% 12% -23% 83% $1,383,023,840
JRL Jindalee Resources 2.22 0% 0% -13% -1% $126,807,515
LEL Lithenergy 1.185 0% 78% 3% 103% $70,977,000
LTR Liontown Resources 1.535 0% 5% -15% 8% $3,360,546,086
RIO Rio Tinto Limited 97.78 0% 5% 4% -3% $36,189,868,703
ADV Ardiden Ltd 0.007 0% 0% -13% -36% $18,678,347
AGY Argosy Minerals Ltd 0.475 0% -2% 0% 150% $654,445,663
1MC Morella Corporation 0.021 0% 5% -25% -67% $121,832,672
AML Aeon Metals Ltd. 0.028 0% 0% -10% -51% $30,616,062
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 156% $2,752,409,203
LIT Lithium Australia 0.053 0% -4% -13% -54% $64,641,090
MLS Metals Australia 0.043 0% 5% -17% 8% $26,102,556
QPM Queensland Pacific 0.15 0% 15% 0% -40% $235,756,970
PSC Prospect Res Ltd 0.1 0% 0% 8% 411% $46,225,946
RLC Reedy Lagoon Corp. 0.014 0% -7% -13% -36% $7,803,977
TKL Traka Resources 0.006 0% 0% -14% -54% $4,132,647
TON Triton Min Ltd 0.023 0% 5% -28% -28% $31,804,036
AM7 Arcadia Minerals 0.32 0% 19% 16% 64% $14,943,325
FG1 Flynngold 0.11 0% 5% 16% -29% $7,046,716
FRS Forrestaniaresources 0.215 0% 30% -14% -33% $9,204,430
MMC Mitremining 0.175 0% 9% 6% -24% $4,739,893
RAG Ragnar Metals Ltd 0.029 0% 16% -22% -28% $10,996,362
TMB Tambourahmetals 0.16 0% 3% 3% -16% $6,590,816
TEM Tempest Minerals 0.032 0% -2% -16% 52% $16,152,518
TSC Twenty Seven Co. Ltd 0.002 0% 0% 0% -43% $10,643,256
AZL Arizona Lithium Ltd 0.079 0% 3% -10% 84% $190,384,119
AZI Altamin Limited 0.084 0% 1% -12% 4% $32,904,207
ENT Enterprise Metals 0.011 0% 0% 10% -21% $7,182,788
KAI Kairos Minerals Ltd 0.03 0% -6% 0% -3% $58,922,805
RMX Red Mount Min Ltd 0.005 0% 0% -29% -44% $8,211,819
RDT Red Dirt Metals Ltd 0.595 0% 4% -13% -23% $197,537,515
SRZ Stellar Resources 0.014 0% -7% -7% -52% $14,064,833
LSR Lodestar Minerals 0.006 0% 9% -14% -40% $10,430,624
AOA Ausmon Resorces 0.007 0% 0% -13% 0% $6,001,025
SRI Sipa Resources Ltd 0.046 0% -4% 2% -12% $9,431,141
VMC Venus Metals Cor Ltd 0.15 0% -3% -12% -21% $24,011,802
ZNC Zenith Minerals Ltd 0.31 0% 9% -2% 41% $106,876,306
G88 Golden Mile Res Ltd 0.028 0% 4% -18% -40% $5,728,513
WC8 Wildcat Resources 0.032 0% 3% -6% -18% $20,648,727
THR Thor Mining PLC 0.009 0% -10% -25% -47% $9,916,186
MXR Maximus Resources 0.046 0% -2% -10% -47% $14,669,665
M2R Miramar 0.1 0% 10% -17% -50% $6,418,666
MMG Monger Gold Ltd 0.42 0% -7% -13% 68% $16,816,800
WMC Wiluna Mining Corp 0.205 0% 0% 0% -76% $74,238,031
DAF Discovery Alaska Ltd 0.062 0% -7% -23% 35% $13,902,551
DAL Dalaroometalsltd 0.135 0% 8% 29% -41% $4,033,125
CY5 Cygnus Gold Limited 0.44 0% 76% 52% 252% $64,761,539
TUL Tulla Resources 0.435 0% -1% -16% -4% $69,694,339
WES Wesfarmers Limited 44.13 0% 3% -7% -17% $50,047,708,282
GT1 Greentechnology 0.73 -1% 3% -6% 0% $140,192,719
PGD Peregrine Gold 0.58 -1% -6% -25% 47% $22,652,110
LPI Lithium Pwr Int Ltd 0.565 -1% 12% -13% 102% $222,984,642
WR1 Winsome Resources 0.35 -1% 0% 8% 0% $47,965,468
GLN Galan Lithium Ltd 1.2 -2% 8% -16% 27% $371,575,255
BMM Balkanminingandmin 0.29 -2% -2% 7% -58% $12,688,173
A8G Australasian Metals 0.28 -2% -2% 0% -38% $11,733,591
TKM Trek Metals Ltd 0.054 -2% -10% -16% -55% $17,083,558
ESS Essential Metals Ltd 0.53 -2% 26% 3% 231% $133,938,245
NMT Neometals Ltd 1.05 -2% -7% -31% 28% $591,010,764
VUL Vulcan Energy 6.86 -2% -3% -21% -41% $1,003,347,107
PNN Power Minerals Ltd 0.46 -2% 5% -30% 18% $33,913,806
ARN Aldoro Resources 0.21 -2% -7% -18% -45% $21,411,273
KZR Kalamazoo Resources 0.195 -3% -9% -17% -41% $29,763,875
ZEO Zeotech Limited 0.038 -3% -3% -24% -57% $62,966,781
AUN Aurumin 0.0935 -3% -7% -19% -47% $12,029,485
LNR Lanthanein Resources 0.037 -3% 3% -34% 106% $36,587,372
PAM Pan Asia Metals 0.36 -3% -1% -14% -14% $54,336,568
MNS Magnis Energy Tech 0.35 -3% -3% -30% 11% $349,319,334
INR Ioneer Ltd 0.595 -3% -2% -14% 1% $1,290,352,457
MQR Marquee Resource Ltd 0.057 -3% -5% -25% -8% $18,739,437
MTM Mtmongerresources 0.125 -4% 14% -14% -19% $4,876,304
WCN White Cliff Min Ltd 0.024 -4% 14% -11% 92% $18,690,084
DRE Dreadnought Resources Ltd 0.088 -4% -5% -27% 138% $279,913,087
EPM Eclipse Metals 0.021 -5% 0% -16% -51% $44,533,651
AOU Auroch Minerals Ltd 0.063 -5% 5% 2% -62% $24,493,379
ASN Anson Resources Ltd 0.285 -5% 2% -27% 239% $352,244,331
EFE Eastern Resources 0.038 -5% 27% 36% 3% $41,761,018
TYX Tyranna Res Ltd 0.0415 -6% 4% -8% 592% $105,552,714
QXR Qx Resources Limited 0.082 -6% 67% 165% 486% $76,722,022
XTC Xantippe Res Ltd 0.0075 -6% -6% -17% 200% $65,161,839
SYA Sayona Mining Ltd 0.215 -7% -4% -34% 39% $1,911,415,708
IMI Infinitymining 0.215 -7% -9% 13% 0% $14,517,313
MM1 Midasmineralsltd 0.205 -7% 8% -2% 21% $12,568,988
EMS Eastern Metals 0.135 -7% 0% 13% 0% $5,605,156
EVR Ev Resources Ltd 0.026 -7% 8% -10% -19% $25,927,554
KTA Krakatoa Resources 0.065 -7% 5% 7% -3% $24,129,694
STM Sunstone Metals Ltd 0.031 -7% -9% -31% -31% $86,980,955
BNR Bulletin Res Ltd 0.12 -8% 9% -20% 94% $38,036,843
RAS Ragusa Minerals Ltd 0.29 -8% -8% 14% 205% $41,268,978
RGL Riversgold 0.045 -8% 32% 25% 107% $38,038,751
FTL Firetail Resources 0.19 -10% 0% -24% 0% $12,974,325
ALY Alchemy Resource Ltd 0.029 -12% 0% 45% 128% $31,451,516
AVW Avira Resources Ltd 0.0035 -13% -13% -22% -42% $8,475,160
CAI Calidus Resources 0.3675 -23% -28% -40% -37% $207,946,310
NWM Norwest Minerals 0.03 -27% -12% -45% -62% $9,106,403
WML Woomera Mining Ltd 0.016 -30% 7% 0% -19% $15,797,161
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36 lithium companies ended the day in the green, 47 lost their marbles, and 48 fell flat.

 

Who else has news out?

METALICITY (ASX:MCT)

MCT’s exploration team arrived on site over the weekend at the Mt Surprise Lithium Project to kick off exploration, initially focusing on geological field mapping and rock chip sampling from prospective lithologies and key structural features.

This is where historic rock chip samples returned 3.55% Li2O, 125ppm tantalum, 0.25% caesium and 1.26% rubidium as well as significant high-grade copper mineralisation at surface.

Metalicity’s managing director says the program is also designed to target new pegmatites and potential lithium mineralisation to assist with future targeted exploration programs.

 

RESOLUTION MINERALS (ASX:RML)

A strategic placement to US and Australian-based investors will raise $1.03m, with the bulk of the funds used make a 5% equity investment in North American focused hard rock lithium exploration company, Midwest Lithium AG.

Midwest Lithium has properties in the Black Hills district of South Dakota and RML says the investment is being undertaken as part of their larger capital raising of US$2m, which is expected to be sufficient to allow them to complete further claim (tenement) acquisition costs, and continue exploration programs, permitting and working capital.

The acquisition of the interest by RML has been approved by Midwest Lithium’s shareholders and is expected to be completed on or about October 25.

RML says the investment underpins the company’s commitment to growing its exposure to new energy metals and gives shareholders early exposure to an underexplored known spodumene-pegmatite lithium field in an area with significant past lithium production.

Dakota is a top-rated North American mining jurisdiction with established large-scale mining operations.

 

XANTIPPE RESOURCES (ASX:XTC)

XTC has appointed John Featherby as the executive chairman of the company, effective immediately, as well as Carlos Arecco as non-executive director – effective from October 14.

Featherby has extensive experience in the stockbroking and wealth management industry with past experience at Harley Pynton, now EurozHartleys.

Arecco “is one of the most respected and successful businessmen in Argentina”, XTC says, and is the founder of Arecco Ingenieria (AISA).

Over its 43-year history, Arecco has built a major private conglomerate in the fields of water, gas, industrial installations, airports, communications and the naval industry.

 

ARCADIA MINERALS (ASX:AM7)

A regional scale lithium in brines geophysical survey has begun at Arcadia’s Bitterwasser Project in Namibia.

New Resolution Geophysics (NRG) – a specialist airborne geophysical operator, will fly the electromagnetics survey over large portions of the project in the aim to identify possible lithium rich brine layers at depth.

If successful, a drilling program will be planned over the best targets.

 

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