Eye on Lithium: James Bay erupts into a frenzy on news of Allkem’s 173pc MRE upgrade

All your lithium news, Friday, August 11.

Chile’s leftist President Gabriel Boric is once again pushing back against conservative opposition in the country who want to let foreign investment into its lithium industry.

Earlier this year, Boric decided on reforms that ensure the future development of its huge lithium industry remains government controlled.

Under the plan, future lithium contracts would only be allowed to be issued as public-private partnerships – which observers see as deterring foreign investment.

“As long as I’m president, lithium will belong to all Chileans,” Boric said in Santiago. “That’s why we’re against this initiative.”

James Bay erupts

Meanwhile in Ontario, the Allkem (ASX:AKE) James Bay lithium project is now officially one of the world’s largest lithium spodumene assets in the world – and it’s going to get bigger.

A whopping 173% increase in the James Bay mineral resource now weighs in at 110.2Mt @ 1.30% Li2O. This includes 54.3Mt @ 1/30% Li2O in the indicated category and 55.9Mt @ 1.29% Li2O in the inferred category.

“James Bay is now one of the largest spodumene lithium assets and clearly has the potential to grow even further as the boundaries of mineralisation are tested through an additional drilling program commencing later in the year,” AKE MD Martin Perez de Solay says.

“The size and grade of this resource is amongst the best in the world and will underpin Allkem’s plans for future production and processing of lithium in Québec.”

Swimming around this resource is a slew of ASX juniors looking to turn James Bay into a mega-precinct – check this bonkers list out:

Kuniko Limited (ASX:KNI), Recharge Metals (ASX:REC), Fin Resources (ASX:FIN), Oceana Lithium (ASX:OCN), Megado Gold (ASX:MEG), Sayona Mining (ASX:SYA), Rubix Resources (ASX:RB6), Cosmos Exploration (ASX:C1X), Resource Base (ASX:RBX), Summit Minerals (ASX:SUM), Winsome Resources (ASX:WR1), Lightning Minerals (ASX:L1M) and incoming IPO newcomer Lithium Universe (ASX:LU7).

Patriot Battery Metals (ASX:PMT) also has its own huge resource in James Bay – the Corvette lithium project – with a resource of 109.2Mt @ 1.42% Li2O.

A huge day on the ASX for these juniors – some up 28% – on the back of Allkem’s massive resource upgrade.

Just *some* of the James Bay projects. Source: Lightning Minerals.

Here’s how ASX lithium stocks are tracking:

CODE	COMPANY	PRICE	% TODAY	YTD %	MARKET CAP
M2R	Miramar	0.06	14.58	-42.08	$5,324,487
LNR	Lanthanein Resources	0.02	12.50	-37.93	$17,945,209
RMX	Red Mount Min Ltd	0.00	12.50	-30.77	$10,097,404
REC	Rechargemetals	0.23	12.20	12.20	$21,644,817
VSR	Voltaic Strategic	0.04	12.12	85.00	$14,892,907
WCN	White Cliff Min Ltd	0.01	11.11	-23.08	$11,313,167
KZR	Kalamazoo Resources	0.16	10.71	-43.64	$23,527,440
KGD	Kula Gold Limited	0.02	10.53	-22.22	$7,091,026
LPD	Lepidico Ltd	0.01	9.09	-58.42	$84,021,363
WC8	Wildcat Resources	0.24	9.09	727.59	$146,425,752
EG1	Evergreenlithium	0.32	8.47		$16,587,850
BUR	Burleyminerals	0.14	7.69	47.37	$13,168,578
L1M	Lightning Minerals	0.18	7.58		$6,471,003
A11	Atlantic Lithium	0.41	6.58		$231,511,831
EPM	Eclipse Metals	0.02	6.25	-22.73	$32,448,957
PL3	Patagonia Lithium	0.18	5.88		$8,330,595
LLO	Lion One Metals Ltd	1.11	5.71	-26.00	$14,499,811
NMT	Neometals Ltd	0.57	5.61	-58.30	$295,716,529
YAR	Yari Minerals Ltd	0.02	5.26	-9.09	$9,164,798
PAT	Patriot Lithium	0.21	5.00		$12,277,500
STM	Sunstone Metals Ltd	0.02	4.35	-45.45	$70,885,652
MHK	Metalhawk.	0.12	4.35	-29.41	$9,058,666
LRS	Latin Resources Ltd	0.38	4.17	307.61	$944,352,947
CHR	Charger Metals	0.28	3.77	-50.00	$16,460,308
AGY	Argosy Minerals Ltd	0.29	3.64	-32.14	$386,212,062
MQR	Marquee Resource Ltd	0.04	2.86	-56.63	$11,574,763
AAJ	Aruma Resources Ltd	0.04	2.63	-50.63	$7,455,670
G88	Golden Mile Res Ltd	0.04	2.63	29.93	$12,516,801
GW1	Greenwing Resources	0.20	2.56	-28.57	$33,690,317
VUL	Vulcan Energy	3.85	2.39	-56.69	$629,180,732
ZEO	Zeotech Limited	0.04	2.38	-25.86	$71,648,769
TYX	Tyranna Res Ltd	0.02	2.38	-43.42	$69,014,932
MAN	Mandrake Res Ltd	0.04	2.33	-2.22	$25,746,677
PSC	Prospect Res Ltd	0.11	2.27	-13.46	$50,848,541
GL1	Globallith	1.62	2.21	-11.72	$411,772,220
LIT	Lithium Australia	0.05	2.13	-41.46	$57,396,009
ANX	Anax Metals Ltd	0.06	1.79	-25.00	$24,074,619
MTM	MTM Critical Metals	0.06	1.69	-50.00	$5,725,757
MLS	Metals Australia	0.03	1.61	-48.36	$19,345,122
PGD	Peregrine Gold	0.32	1.61	-58.08	$17,391,809
ASN	Anson Resources Ltd	0.16	1.56	8.33	$203,308,510
NVA	Nova Minerals Ltd	0.33	1.54	-59.26	$68,539,237
LEL	Lithenergy	0.70	1.45	-33.65	$71,076,900
LM1	Leeuwin Metals Ltd	0.38	1.35		$16,570,450
FRS	Forrestaniaresources	0.08	1.27	-54.29	$7,356,670
EUR	European Lithium Ltd	0.08	1.22	-7.78	$114,327,612
AZI	Altamin Limited	0.08	1.22	-5.68	$32,120,774
TKM	Trek Metals Ltd	0.09	1.16	33.85	$42,408,327
ESS	Essential Metals Ltd	0.46	1.10	-8.91	$122,331,285
IR1	Irismetals	2.05	0.99	298.06	$161,851,900
GT1	Greentechnology	0.57	0.89	-18.71	$119,267,413
WES	Wesfarmers Limited	50.80	0.61	7.99	$57,255,277,740
PMT	Patriotbatterymetals	1.42	0.35		$492,929,669
AKE	Allkem Limited	14.51	0.07	19.92	$9,246,042,247
ADV	Ardiden Ltd	0.01	0.00	-33.33	$16,130,012
1MC	Morella Corporation	0.01	0.00	-65.00	$42,690,063
AML	Aeon Metals Ltd.	0.02	0.00	-44.83	$17,542,410
AVZ	AVZ Minerals Ltd	0.78	0.00	0.00	$2,752,409,203
EMH	European Metals Hldg	0.84	0.00	7.69	$104,963,337
INR	Ioneer Ltd	0.27	0.00	-60.58	$569,541,453
JRL	Jindalee Resources	1.82	0.00	-30.80	$104,429,718
LPI	Lithium Pwr Int Ltd	0.28	0.00	-53.33	$176,186,517
RLC	Reedy Lagoon Corp.	0.01	0.00	-48.39	$4,533,757
TKL	Traka Resources	0.01	0.00	0.00	$6,099,305
TON	Triton Min Ltd	0.03	0.00	0.00	$42,156,601
BMM	Balkanminingandmin	0.22	0.00	10.00	$13,435,843
ARN	Aldoro Resources	0.17	0.00	-40.00	$22,212,918
AM7	Arcadia Minerals	0.11	0.00	-25.00	$9,875,261
BYH	Bryah Resources Ltd	0.02	0.00	-31.28	$6,640,600
EMS	Eastern Metals	0.06	0.00	-60.20	$3,659,691
FG1	Flynngold	0.07	0.00	-16.84	$9,546,781
GSM	Golden State Mining	0.05	0.00	-6.93	$8,981,149
IMI	Infinitymining	0.13	0.00	-3.70	$10,036,180
LRV	Larvottoresources	0.15	0.00	-37.50	$10,088,208
MMC	Mitremining	0.30	0.00	160.87	$11,470,530
RAG	Ragnar Metals Ltd	0.02	0.00	-49.86	$10,427,581
CTN	Catalina Resources	0.01	0.00	-37.50	$6,192,434
WML	Woomera Mining Ltd	0.01	0.00	-34.51	$10,518,140
AZL	Arizona Lithium Ltd	0.02	0.00	-78.89	$60,096,750
CRR	Critical Resources	0.04	0.00	-22.22	$74,648,712
PNN	Power Minerals Ltd	0.33	0.00	-39.45	$24,161,339
QXR	Qx Resources Limited	0.03	0.00	-13.51	$28,699,594
ENT	Enterprise Metals	0.00	0.00	-66.67	$3,197,884
KAI	Kairos Minerals Ltd	0.03	0.00	-10.00	$70,764,629
AVW	Avira Resources Ltd	0.00	0.00	-33.33	$4,267,580
BNR	Bulletin Res Ltd	0.05	0.00	-58.46	$15,853,919
A8G	Australasian Metals	0.17	0.00	-42.11	$8,599,882
EFE	Eastern Resources	0.01	0.00	-69.70	$12,419,465
SRZ	Stellar Resources	0.01	0.00	-25.00	$12,071,571
LSR	Lodestar Minerals	0.01	0.00	-12.50	$12,903,781
AOA	Ausmon Resorces	0.00	0.00	-27.27	$3,877,157
IPT	Impact Minerals	0.02	0.00	100.00	$45,515,262
SRI	Sipa Resources Ltd	0.02	0.00	-52.27	$4,791,321
VMC	Venus Metals Cor Ltd	0.14	0.00	32.68	$25,613,372
RGL	Riversgold	0.01	0.00	-62.86	$12,366,399
ZNC	Zenith Minerals Ltd	0.07	0.00	-74.92	$26,076,185
RAS	Ragusa Minerals Ltd	0.06	0.00	-45.00	$7,842,933
EVR	Ev Resources Ltd	0.02	0.00	-53.13	$14,039,761
MXR	Maximus Resources	0.04	0.00	-37.93	$11,529,208
LRD	Lordresourceslimited	0.09	0.00	-65.77	$3,304,759
WMC	Wiluna Mining Corp	0.21	0.00	0.00	$74,238,031
AUN	Aurumin	0.02	0.00	-84.57	$6,785,911
ALY	Alchemy Resource Ltd	0.01	0.00	-6.67	$16,493,068
KTA	Krakatoa Resources	0.03	0.00	-48.15	$11,938,544
DAF	Discovery Alaska Ltd	0.03	0.00	-45.83	$6,090,102
DAL	Dalaroometalsltd	0.06	0.00	-44.44	$2,853,125
TUL	Tulla Resources	0.00	0.00	-100.00	$118,262,971
LLL	Leolithiumlimited	1.14	0.00	130.30	$1,125,447,873
CMD	Cassius Mining Ltd	0.04	0.00	100.00	$18,875,672
SGQ	St George Min Ltd	0.04	0.00	37.93	$33,862,999
ENT	Enterprise Metals	0.00	0.00	-66.67	$3,197,884
FIN	FIN Resources Ltd	0.01	0.00	-13.33	$8,073,460
DTM	Dart Mining NL	0.03	0.00	-49.23	$5,685,478
NIS	Nickelsearch	0.07	0.00	-49.13	$6,981,018
XTC	Xantippe Res Ltd	0.00	0.00	-84.85	$11,480,100
KOB	Kobaresourceslimited	0.11	0.00	-35.29	$11,595,833
LRD	Lordresourceslimited	0.09	0.00	-65.77	$3,304,759
IEC	Intra Energy Corp	0.01	0.00	-54.55	$8,103,908
SLM	Solismineralsltd	0.39	0.00	413.33	$25,783,607
DYM	Dynamicmetalslimited	0.21	0.00		$7,350,000
TMX	Terrain Minerals	0.01	0.00	-25.00	$6,499,196
MHC	Manhattan Corp Ltd	0.01	0.00	-27.27	$23,495,838
NKL	Nickelxltd	0.07	0.00	-41.67	$6,050,470
GLN	Galan Lithium Ltd	0.80	-1.24	-39.77	$279,070,560
IGO	IGO Limited	13.12	-1.39	11.14	$10,071,661,913
RIO	Rio Tinto Limited	108.08	-1.44	8.97	$40,703,857,865
LTR	Liontown Resources	2.70	-1.46	56.98	$6,034,180,306
SCN	Scorpion Minerals	0.06	-1.64	-4.76	$21,088,078
LIS	Lisenergylimited	0.30	-1.67	-58.45	$49,774,256
CXO	Core Lithium	0.57	-1.72	-60.55	$1,077,939,741
LPM	Lithium Plus	0.28	-1.79	-54.55	$18,476,696
PLS	Pilbara Min Ltd	5.27	-1.96	76.68	$16,100,837,459
AS2	Askarimetalslimited	0.25	-1.96	-36.71	$17,434,465
QPM	Queensland Pacific	0.10	-2.02	-33.10	$172,888,444
DLI	Delta Lithium	0.67	-2.19	59.52	$357,963,661
NWM	Norwest Minerals	0.04	-2.22	12.82	$12,940,628
WR1	Winsome Resources	1.73	-2.26	540.74	$287,588,745
MIN	Mineral Resources.	67.79	-2.32	15.43	$13,496,956,694
TMB	Tambourahmetals	0.21	-2.38	28.13	$11,110,576
FBM	Future Battery	0.10	-2.38	50.74	$44,923,739
TMB	Tambourahmetals	0.21	-2.38	28.13	$11,110,576
BM8	Battery Age Minerals	0.37	-2.63	-26.00	$28,202,902
CAI	Calidus Resources	0.17	-2.86	-77.78	$106,378,976
MM1	Midasmineralsltd	0.33	-2.99	44.44	$25,797,759
DRE	Dreadnought Resources Ltd	0.05	-3.00	-42.94	$167,113,911
CY5	Cygnus Metals Ltd	0.29	-3.39	46.15	$65,864,808
MRR	Minrex Resources Ltd	0.01	-3.45	-75.00	$15,730,579
SYA	Sayona Mining Ltd	0.14	-3.57	-49.06	$1,441,061,442
FTL	Firetail Resources	0.14	-3.57	-43.75	$13,475,000
TOR	Torque Met	0.14	-3.57	-32.50	$13,487,185
PLL	Piedmont Lithium Inc	0.70	-4.14	-2.80	$277,568,063
ICL	Iceni Gold	0.11	-4.55	10.53	$22,942,857
LKE	Lake Resources	0.20	-4.76	-84.85	$298,713,388
MNS	Magnis Energy Tech	0.10	-4.76	-71.01	$123,847,306
PAM	Pan Asia Metals	0.26	-5.56	-42.05	$42,055,587
OCN	Oceanalithiumlimited	0.24	-5.88	-51.52	$13,534,508
LLI	Loyal Lithium Ltd	0.51	-6.42	78.95	$37,327,051
EMC	Everest Metals Corp	0.14	-6.67	33.33	$19,414,966
EMC	Everest Metals Corp	0.14	-6.67	33.33	$19,414,966
AZS	Azure Minerals	2.39	-7.36	895.83	$1,006,809,066
INF	Infinity Lithium	0.11	-8.33	-26.67	$55,511,051
SBR	Sabre Resources	0.04	-9.76	-26.00	$11,950,934
VKA	Viking Mines Ltd	0.01	-10.00	28.57	$10,252,584
AX8	Accelerate Resources	0.02	-11.11	-36.84	$10,249,247
THR	Thor Energy PLC	0.00	-11.11	-57.89	$6,566,812
TEM	Tempest Minerals	0.01	-12.50	-68.89	$8,109,146

WHO’S GOT NEWS OUT?

Here’s more news out of lithium plays today.

LIGHTNING MINERALS (ASX:L1M)

L1M is entering James Bay, too, after signing an LOI for two lithium projects in the region.

The company is purchasing the 47km2 Dalmas and 32km2 Hiver lithium projects, which both have historical reports of outcropping pegmatites mapped by the Quebec government.

L1M plans to commence ground reconnaissance once the deal is done at 13 geological sites that all have reported pegmatite outcrops.

“This acquisition will be a significant step forward for the company in its exposure to lithium. L1M CEO Alex Biggs said.

“Having ground positions in two of the most prospective lithium regions globally, Western Australia and Quebec, is an excellent opportunity.”

BATTERY AGE MINERALS (ASX:BM8)

BM8 has announced that CEO Gerard O’Donovan is transitioning into the MD role at the critical mineral explorer.

O’Donovan’s got an extensive background in the lithium industry, having worked in the sector for more than 15 years with demonstrated success in managing large-scale construction and mining development projects.

Former roles include project manager at Pilbara Minerals (ASX:PLS) , where he was responsible for leading the development, commissioning, and ramp-up of the Pilganagoora lithium-tantalum Stage 1 mine and processing facility.

After that, he headed up the integration and restart of the Altura Lithium operations asset within the broader PLS business.

He’s also previously worked with Atlas Iron, FMG, Australian Premium Iron JV and Rio Tinto.

BAM continues to explore at its Falcon Lake lithium project in Ontario, exposure to germanium in Austria and the Tidili copper project in Morocco.

COSMOS EXPLORATION (ASX:C1X)

Rising from the ashes of the Canadian wildfire restrictions, C1X is about to commence a helicopter-assisted rock sampling program at its highly-prospective Corvette Far East and Lasalle lithium projects.

Located in the James Bay lithium precinct, it’s near PMT’s world-class CV5 discovery.

“We are pleased to announce the commencement of our summer exploration program with helicopter-supported sampling about to begin across the high-priority targets we have generated over our two key James Bay projects,” C1X exec chair Jeremy Robisnon said.

At Stockhead we tell it like it is. While Battery Age Minerals is a Stockhead advertiser, they did not sponsor this article.