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Eye on Lithium: Japan’s Mitsubishi joins the ranks of car makers clamouring to secure lithium supply
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- Lake Resources produces 2,500kg of lithium carbonate equivalent at Kachi
- Thick lithium results at Leeuwin Metals’Kenpeg project confirms discovery of a new lithium district within Manitoba
- Sayona expands its lithium resource at the Moblan project
All your lithium news, Monday April 17.
Japan’s Mitsubishi is toying with the idea to invest directly into lithium and nickel mines to secure the raw material supply it needs to electrify fleets and meet rising demand for EV batteries.
Mitsubishi mineral resources group CEO, Satoshi Koyama, made the call at an analyst meeting, flagging Canada and Australia as two potential location options as they both “meet the criteria of safety from the perspective of geopolitical risk and access to renewable power”.
According to Reuters, Koyama said if the sale of the Daunia and Blackwater metallurgical coal mines in Queensland comes through, Mitsubishi and joint venture partner BHP (ASX:BHP) may allocate cash into growth segments such as battery metals.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | TODAY RETURN % | MARKET CAP |
|---|---|---|---|---|
| EFE | Eastern Resources | 0.015 | 36% | $13,661,411 |
| TMB | Tambourahmetals | 0.12 | 29% | $3,830,912 |
| LM1 | Leeuwin Metals Ltd | 0.39 | 28% | $12,288,448 |
| A11 | Atlantic Lithium | 0.64 | 19% | $328,990,496 |
| LKE | Lake Resources | 0.5425 | 18% | $654,324,565 |
| LRD | Lordresourceslimited | 0.26 | 16% | $8,152,227 |
| FBM | Future Battery | 0.105 | 15% | $38,933,907 |
| MTM | Mtmongerresources | 0.115 | 15% | $7,076,025 |
| TKL | Traka Resources | 0.008 | 14% | $5,726,091 |
| THR | Thor Energy PLC | 0.0045 | 13% | $5,904,451 |
| SYA | Sayona Mining Ltd | 0.2175 | 12% | $1,739,857,315 |
| AAJ | Aruma Resources Ltd | 0.086 | 10% | $12,242,997 |
| LPD | Lepidico Ltd | 0.011 | 10% | $76,377,717 |
| QXR | Qx Resources Limited | 0.038 | 9% | $31,390,181 |
| SRZ | Stellar Resources | 0.013 | 8% | $12,055,571 |
| INF | Infinity Lithium | 0.135 | 8% | $57,824,012 |
| SCN | Scorpion Minerals | 0.074 | 7% | $23,853,727 |
| BUR | Burleyminerals | 0.3 | 7% | $17,196,019 |
| KOB | Kobaresourceslimited | 0.15 | 7% | $10,885,000 |
| MRR | Minrex Resources Ltd | 0.017 | 6% | $17,357,880 |
| TON | Triton Min Ltd | 0.035 | 6% | $45,631,878 |
| ASN | Anson Resources Ltd | 0.185 | 6% | $213,741,098 |
| PLL | Piedmont Lithium Inc | 0.845 | 6% | $346,223,200 |
| AZL | Arizona Lithium Ltd | 0.0495 | 5% | $126,475,388 |
| LIT | Lithium Australia | 0.04 | 5% | $46,405,284 |
| KTA | Krakatoa Resources | 0.0345 | 5% | $11,375,427 |
| PNN | Power Minerals Ltd | 0.495 | 4% | $34,316,775 |
| AS2 | Askarimetalslimited | 0.375 | 4% | $22,616,310 |
| LLO | Lion One Metals Ltd | 1.215 | 4% | $14,106,647 |
| EUR | European Lithium Ltd | 0.083 | 4% | $119,139,134 |
| PAT | Patriot Lithium | 0.29 | 4% | $17,048,501 |
| EMS | Eastern Metals | 0.062 | 3% | $2,343,865 |
| YAR | Yari Minerals Ltd | 0.0185 | 3% | $8,682,441 |
| MLS | Metals Australia | 0.039 | 3% | $23,067,375 |
| GW1 | Greenwing Resources | 0.2 | 3% | $29,004,691 |
| MQR | Marquee Resource Ltd | 0.0205 | 3% | $6,544,150 |
| SGQ | St George Min Ltd | 0.051 | 2% | $42,025,527 |
| MIN | Mineral Resources. | 80.56 | 2% | $15,265,221,279 |
| INR | Ioneer Ltd | 0.3 | 2% | $619,009,789 |
| VUL | Vulcan Energy | 6.1 | 2% | $860,611,806 |
| TKM | Trek Metals Ltd | 0.065 | 2% | $23,292,485 |
| CHR | Charger Metals | 0.33 | 2% | $14,207,170 |
| CHR | Charger Metals | 0.33 | 2% | $14,207,170 |
| NVA | Nova Minerals Ltd | 0.37 | 1% | $76,974,768 |
| BNR | Bulletin Res Ltd | 0.09 | 1% | $26,129,608 |
| PLS | Pilbara Min Ltd | 3.79 | 1% | $11,242,550,696 |
| WES | Wesfarmers Limited | 52.16 | 1% | $58,570,708,958 |
| IGO | IGO Limited | 13.56 | 1% | $10,170,106,729 |
| RIO | Rio Tinto Limited | 121.335 | 0% | $44,894,888,921 |
| ADV | Ardiden Ltd | 0.008 | 0% | $21,506,683 |
| 1MC | Morella Corporation | 0.01 | 0% | $60,985,804 |
| AML | Aeon Metals Ltd. | 0.023 | 0% | $25,217,214 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| CXO | Core Lithium | 0.915 | 0% | $1,697,340,367 |
| QPM | Queensland Pacific | 0.135 | 0% | $235,756,969 |
| RLC | Reedy Lagoon Corp. | 0.007 | 0% | $3,967,037 |
| BMM | Balkanminingandmin | 0.245 | 0% | $11,704,143 |
| LEL | Lithenergy | 0.63 | 0% | $37,894,500 |
| ARN | Aldoro Resources | 0.175 | 0% | $19,759,655 |
| AX8 | Accelerate Resources | 0.024 | 0% | $9,062,442 |
| AM7 | Arcadia Minerals | 0.16 | 0% | $7,471,663 |
| BYH | Bryah Resources Ltd | 0.024 | 0% | $6,750,083 |
| DTM | Dart Mining NL | 0.075 | 0% | $11,671,542 |
| IMI | Infinitymining | 0.165 | 0% | $12,618,923 |
| LRV | Larvottoresources | 0.135 | 0% | $9,079,387 |
| RAG | Ragnar Metals Ltd | 0.016 | 0% | $6,066,958 |
| CTN | Catalina Resources | 0.005 | 0% | $6,192,434 |
| WML | Woomera Mining Ltd | 0.01 | 0% | $9,561,612 |
| CRR | Critical Resources | 0.039 | 0% | $62,195,440 |
| KGD | Kula Gold Limited | 0.015 | 0% | $5,598,179 |
| LRS | Latin Resources Ltd | 0.11 | 0% | $242,182,041 |
| KZR | Kalamazoo Resources | 0.17 | 0% | $25,685,395 |
| AZI | Altamin Limited | 0.065 | 0% | $25,461,589 |
| ENT | Enterprise Metals | 0.008 | 0% | $5,640,646 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| A8G | Australasian Metals | 0.16 | 0% | $6,587,279 |
| 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 |
| RGL | Riversgold | 0.015 | 0% | $14,182,016 |
| ZNC | Zenith Minerals Ltd | 0.15 | 0% | $52,755,907 |
| G88 | Golden Mile Res Ltd | 0.023 | 0% | $6,058,941 |
| EPM | Eclipse Metals | 0.016 | 0% | $32,448,957 |
| EVR | Ev Resources Ltd | 0.014 | 0% | $13,103,777 |
| MM1 | Midasmineralsltd | 0.18 | 0% | $10,283,718 |
| M2R | Miramar | 0.045 | 0% | $3,515,478 |
| LLI | Loyal Lithium Ltd | 0.32 | 0% | $19,036,800 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| AUN | Aurumin | 0.03 | 0% | $5,932,746 |
| ALY | Alchemy Resource Ltd | 0.015 | 0% | $17,671,144 |
| LIS | Lisenergylimited | 0.34 | 0% | $56,410,824 |
| TYX | Tyranna Res Ltd | 0.018 | 0% | $43,315,656 |
| 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 |
| OCN | Oceanalithiumlimited | 0.335 | 0% | $12,588,128 |
| PL3 | Patagonia Lithium | 0.21 | 0% | $10,290,735 |
| RMX | Red Mount Min Ltd | 0.0035 | 0% | $7,951,479 |
| ENT | Enterprise Metals | 0.008 | 0% | $5,640,646 |
| DTM | Dart Mining NL | 0.075 | 0% | $11,671,542 |
| LPM | Lithium Plus | 0.245 | 0% | $12,467,609 |
| AKE | Allkem Limited | 11.57 | -1% | $7,422,340,121 |
| LTR | Liontown Resources | 2.7 | -1% | $5,979,796,602 |
| NMT | Neometals Ltd | 0.66 | -1% | $367,572,882 |
| GT1 | Greentechnology | 0.645 | -1% | $123,979,955 |
| GLN | Galan Lithium Ltd | 1.11 | -1% | $343,745,254 |
| FTL | Firetail Resources | 0.099 | -1% | $7,700,000 |
| RAS | Ragusa Minerals Ltd | 0.094 | -1% | $13,546,885 |
| GL1 | Globallith | 1.365 | -1% | $294,179,093 |
| NIS | Nickelsearch | 0.089 | -1% | $5,445,488 |
| LPI | Lithium Pwr Int Ltd | 0.325 | -2% | $207,602,195 |
| EMH | European Metals Hldg | 0.64 | -2% | $81,824,575 |
| JRL | Jindalee Resources | 2.4 | -2% | $140,004,677 |
| MMC | Mitremining | 0.285 | -2% | $11,088,179 |
| CY5 | Cygnus Metals Ltd | 0.245 | -2% | $46,781,053 |
| MXR | Maximus Resources | 0.041 | -2% | $13,400,342 |
| NWM | Norwest Minerals | 0.04 | -2% | $10,142,220 |
| AGY | Argosy Minerals Ltd | 0.395 | -2% | $568,785,037 |
| VMC | Venus Metals Cor Ltd | 0.195 | -3% | $35,615,737 |
| TEM | Tempest Minerals | 0.0185 | -3% | $9,629,611 |
| DRE | Dreadnought Resources Ltd | 0.074 | -3% | $251,767,345 |
| LNR | Lanthanein Resources | 0.0175 | -3% | $20,188,360 |
| EMC | Everest Metals Corp | 0.067 | -3% | $7,343,885 |
| PSC | Prospect Res Ltd | 0.165 | -3% | $78,584,109 |
| WC8 | Wildcat Resources | 0.033 | -3% | $22,508,773 |
| TUL | Tulla Resources | 0.33 | -3% | $109,413,361 |
| LLL | Leolithiumlimited | 0.52 | -4% | $532,794,732 |
| ZEO | Zeotech Limited | 0.05 | -4% | $85,316,695 |
| WR1 | Winsome Resources | 1.385 | -4% | $234,136,987 |
| IPT | Impact Minerals | 0.0115 | -4% | $29,776,447 |
| FG1 | Flynngold | 0.09 | -4% | $9,670,112 |
| MNS | Magnis Energy Tech | 0.225 | -4% | $240,952,899 |
| KAI | Kairos Minerals Ltd | 0.021 | -5% | $43,210,057 |
| PGD | Peregrine Gold | 0.37 | -5% | $18,754,035 |
| FRS | Forrestaniaresources | 0.085 | -6% | $5,480,217 |
| RDT | Red Dirt Metals Ltd | 0.415 | -6% | $195,847,296 |
| STM | Sunstone Metals Ltd | 0.031 | -6% | $86,474,732 |
| ESS | Essential Metals Ltd | 0.5425 | -6% | $155,188,683 |
| PAM | Pan Asia Metals | 0.28 | -7% | $46,531,677 |
| MAN | Mandrake Res Ltd | 0.04 | -7% | $25,746,677 |
| GSM | Golden State Mining | 0.035 | -8% | $4,446,540 |
| CAI | Calidus Resources | 0.26 | -9% | $125,271,989 |
| VKA | Viking Mines Ltd | 0.01 | -9% | $11,277,843 |
| VSR | Voltaic Strategic | 0.02 | -9% | $6,760,605 |
| CMD | Cassius Mining Ltd | 0.019 | -10% | $8,578,351 |
| FIN | FIN Resources Ltd | 0.016 | -11% | $10,151,637 |
| XTC | Xantippe Res Ltd | 0.0035 | -13% | $42,320,399 |
| WCN | White Cliff Min Ltd | 0.0085 | -15% | $7,840,544 |
| EG1 | Evergreenlithium | 0.46 | -20% | $32,332,250 |
A total of 49 companies finished up, 53 fell flat, and 49 tumbled into the red.
Which ASX companies have lithium news out?
LAKE RESOURCES (ASX:LKE)
Lake Resources and Lilac Solutions have produced 2,500kg of lithium carbonate equivalent at Kachi in Argentina.
Based on this result, Lilac has increased its ownership of the Kachi Project from 10% to 20% with Kachi now on track to move from its pilot phase into commercial-scale development, which will make it the first lithium brine project in South America to produce lithium at commercial scale without the use of evaporation ponds for lithium concentration.
This is the first successful implementation of ion exchange for lithium production in South America, home to most of the world’s lithium brine resources.
SAYONA MINING (ASX:SYA)
Sayona has expanded its lithium resource at the Moblan project with measured, indicated, and inferred resources totalling 70.9Mt at 1.15% Li2O which represents one of North America’s single largest lithium resources.
This includes higher grade tonnage opportunities with measured, indicated, and inferred resource of 51.4Mt at 1.31% Li2O.
The company plans to enhance the resource further through additional drilling, with 60,000m of extra drilling planned at Moblan.
LEEUWIN METALS (ASX:LM1)
Leeuwin Metals says sampling of two old holes has returned thick, high-grade lithium at the Kenpeg project, confirming the company’s belief that the region has the potential to be a significant lithium district within Manitoba, Canada.
LM1 now plans to complete additional sampling of historical holes drilled by TANCO in the 1980s.
On-the-ground exploration will ramp up in the summer season, focusing on over 6km of mapped pegmatite swarms.
MEGADO MINERALS (ASX:MEG)
Megado has identified over 400 lithium-bearing pegmatite targets at the Cyclone lithium project in Canada James Bay region during recent hyperspectral imagery analysis.
The interpretation was conducted by Terra Resources, who relied on Aster and Sentinel-2 satellite imagery, in conjunction with proprietary algorithms that target lithium bearing pegmatites.
Terra’s analyses identified 415 occurrences of potential lithium bearing pegmatite within the 130km2 Cyclone project area, with some clusters over 4km in length, with individual targets in the order of 10’s to 100’s of metres in length.
Megado says it is excited to follow up this work with a systematic program of ground truthing during the upcoming summer field season.
DISCOVERY ALASKA (ASX:DAF)
Discovery Alaska has entered into a heads of agreement (HOA) with 1Life holdings for the exclusive rights to acquire 100% of the Mia Adjacent Lithium project in Canada’s James Bay region.
The HOA’s allow DAF to conduct due diligence works at each project for a 75-day period from March 4, including exploration activities.
DAF intends to conduct due diligence works and begin exploration planning works to target prospective sites identified from historical activities and develop a comprehensive lithium exploration program for the three projects during this time.
WESTAR RESOURCES (ASX:WSR)
Westar has completed due diligence at the Olga Rocks lithium-gold project and has entered into a 12-month option period.
The due diligence period included extensive data complication, reconnaissance field programs, rock chip sampling and orientation soil sampling that Westar believes has confirmed the presence of a fractionated pegmatite.
“Westar geologists have leveraged the location of pegmatites observed in historical gold drilling to design a ‘Proof of Concept’ maiden RC drilling campaign, with all permitting and approvals in place,” WSR executive director Lindsday Franker says.
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