Pic: Via Getty
Eye on Lithium: Leo Lithium hits all time high on cash windfall, failed gaming stock gets into James Bay lithium
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- Leo Lithium bags $106.1m from Goulamina JV partner Ganfeng
- Failed gaming stock Mogul will reskin as a lithium and rare earths explorer called Lithium Galaxy
- Multiple lithium and REE targets have been identified at Fin Resources’ early-stage Ross project in James Bay, Quebec
All your lithium news, Monday May 29.
Here’s how Aussie lithium stocks are tracking:
| Code | Company | Price | % Today | Market Cap |
|---|---|---|---|---|
| KGD | Kula Gold Limited | 0.018 | 29% | $5,224,967 |
| FIN | FIN Resources Ltd | 0.018 | 20% | $9,278,030 |
| LLL | Leolithiumlimited | 0.85 | 17% | $715,326,261 |
| WCN | White Cliff Min Ltd | 0.007 | 17% | $5,754,326 |
| G88 | Golden Mile Res Ltd | 0.022 | 16% | $5,005,213 |
| WC8 | Wildcat Resources | 0.085 | 15% | $48,989,682 |
| NWM | Norwest Minerals | 0.033 | 14% | $7,173,765 |
| NIS | Nickelsearch | 0.071 | 11% | $3,872,347 |
| EFE | Eastern Resources | 0.011 | 10% | $12,419,465 |
| IPT | Impact Minerals | 0.012 | 9% | $31,291,743 |
| LEL | Lithenergy | 0.98 | 9% | $85,509,000 |
| VSR | Voltaic Strategic | 0.074 | 9% | $25,123,127 |
| DLI | Delta Lithium | 0.69 | 9% | $287,858,723 |
| ZEO | Zeotech Limited | 0.055 | 8% | $83,675,989 |
| ADV | Ardiden Ltd | 0.007 | 8% | $17,474,180 |
| WML | Woomera Mining Ltd | 0.014 | 8% | $12,430,096 |
| GW1 | Greenwing Resources | 0.28 | 8% | $38,976,542 |
| KTA | Krakatoa Resources | 0.028 | 8% | $9,447,791 |
| IEC | Intra Energy Corp | 0.007 | 8% | $4,587,580 |
| A8G | Australasian Metals | 0.145 | 7% | $7,036,267 |
| LNR | Lanthanein Resources | 0.016 | 7% | $16,823,634 |
| 1MC | Morella Corporation | 0.0085 | 6% | $48,788,644 |
| RGL | Riversgold | 0.017 | 6% | $15,127,483 |
| ALY | Alchemy Resource Ltd | 0.017 | 6% | $18,849,220 |
| TON | Triton Min Ltd | 0.035 | 6% | $51,524,735 |
| PNN | Power Minerals Ltd | 0.475 | 6% | $32,550,427 |
| MAN | Mandrake Res Ltd | 0.043 | 5% | $24,549,157 |
| INF | Infinity Lithium | 0.11 | 5% | $48,572,170 |
| TYX | Tyranna Res Ltd | 0.022 | 5% | $50,534,932 |
| AZL | Arizona Lithium Ltd | 0.046 | 5% | $118,402,491 |
| AGY | Argosy Minerals Ltd | 0.47 | 4% | $631,983,374 |
| CXO | Core Lithium | 1.065 | 4% | $1,895,687,130 |
| FRS | Forrestaniaresources | 0.073 | 4% | $4,262,391 |
| EG1 | Evergreenlithium | 0.39 | 4% | $21,086,250 |
| GL1 | Globallith | 1.4 | 4% | $349,719,570 |
| DAF | Discovery Alaska Ltd | 0.032 | 3% | $7,261,276 |
| ASN | Anson Resources Ltd | 0.185 | 3% | $220,237,309 |
| AAJ | Aruma Resources Ltd | 0.074 | 3% | $11,301,228 |
| LRS | Latin Resources Ltd | 0.185 | 3% | $457,347,885 |
| KOB | Kobaresourceslimited | 0.185 | 3% | $18,975,000 |
| MIN | Mineral Resources. | 71.72 | 3% | $13,533,676,299 |
| VMC | Venus Metals Cor Ltd | 0.19 | 3% | $33,527,306 |
| LTR | Liontown Resources | 2.77 | 3% | $5,941,297,242 |
| QXR | Qx Resources Limited | 0.04 | 3% | $34,977,631 |
| MXR | Maximus Resources | 0.04 | 3% | $12,443,175 |
| EUR | European Lithium Ltd | 0.1025 | 3% | $148,923,918 |
| CY5 | Cygnus Metals Ltd | 0.205 | 3% | $42,828,142 |
| PLS | Pilbara Min Ltd | 4.65 | 2% | $13,611,747,174 |
| AKE | Allkem Limited | 15.01 | 2% | $9,348,067,541 |
| FBM | Future Battery | 0.1075 | 2% | $44,923,739 |
| LKE | Lake Resources | 0.5475 | 2% | $761,007,918 |
| IGO | IGO Limited | 14.57 | 2% | $10,791,066,335 |
| INR | Ioneer Ltd | 0.3425 | 2% | $702,943,319 |
| MTM | MTM Critical Metals | 0.1275 | 2% | $11,044,695 |
| AS2 | Askarimetalslimited | 0.28 | 2% | $18,530,422 |
| PLL | Piedmont Lithium Inc | 0.85 | 2% | $361,370,465 |
| DRE | Dreadnought Resources Ltd | 0.057 | 2% | $186,352,780 |
| NVA | Nova Minerals Ltd | 0.3 | 2% | $62,212,484 |
| VUL | Vulcan Energy | 3.9 | 2% | $632,967,556 |
| RIO | Rio Tinto Limited | 109.29 | 1% | $40,005,971,383 |
| LIT | Lithium Australia | 0.0365 | 1% | $43,962,900 |
| RAS | Ragusa Minerals Ltd | 0.08 | 1% | $11,265,304 |
| NMT | Neometals Ltd | 0.515 | 1% | $281,898,000 |
| WR1 | Winsome Resources | 1.805 | 1% | $290,355,035 |
| WES | Wesfarmers Limited | 49.32 | 1% | $55,486,249,551 |
| GT1 | Greentechnology | 0.705 | 1% | $133,516,875 |
| ESS | Essential Metals Ltd | 0.4625 | 1% | $123,080,679 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| EMH | European Metals Hldg | 0.59 | 0% | $74,312,837 |
| JRL | Jindalee Resources | 2.1 | 0% | $120,495,829 |
| LPD | Lepidico Ltd | 0.012 | 0% | $91,653,271 |
| LPI | Lithium Pwr Int Ltd | 0.32 | 0% | $201,311,219 |
| MLS | Metals Australia | 0.037 | 0% | $22,460,339 |
| RLC | Reedy Lagoon Corp. | 0.006 | 0% | $3,400,318 |
| SYA | Sayona Mining Ltd | 0.21 | 0% | $1,910,738,158 |
| TKL | Traka Resources | 0.006 | 0% | $5,227,976 |
| BMM | Balkanminingandmin | 0.235 | 0% | $11,226,423 |
| ARN | Aldoro Resources | 0.12 | 0% | $16,130,849 |
| PAM | Pan Asia Metals | 0.275 | 0% | $42,698,234 |
| AX8 | Accelerate Resources | 0.023 | 0% | $8,684,840 |
| EMS | Eastern Metals | 0.05 | 0% | $1,953,221 |
| FG1 | Flynngold | 0.061 | 0% | $6,275,286 |
| GSM | Golden State Mining | 0.033 | 0% | $3,861,469 |
| IMI | Infinitymining | 0.13 | 0% | $9,942,181 |
| RAG | Ragnar Metals Ltd | 0.019 | 0% | $7,204,513 |
| TEM | Tempest Minerals | 0.014 | 0% | $7,095,503 |
| CRR | Critical Resources | 0.044 | 0% | $70,169,214 |
| KZR | Kalamazoo Resources | 0.125 | 0% | $19,050,794 |
| AZI | Altamin Limited | 0.075 | 0% | $29,378,756 |
| ENT | Enterprise Metals | 0.006 | 0% | $4,230,484 |
| CAI | Calidus Resources | 0.185 | 0% | $101,633,046 |
| MRR | Minrex Resources Ltd | 0.015 | 0% | $16,273,013 |
| SRZ | Stellar Resources | 0.011 | 0% | $11,050,940 |
| LSR | Lodestar Minerals | 0.005 | 0% | $9,216,987 |
| AOA | Ausmon Resorces | 0.004 | 0% | $3,877,157 |
| VKA | Viking Mines Ltd | 0.0085 | 0% | $8,714,697 |
| EPM | Eclipse Metals | 0.014 | 0% | $28,392,837 |
| EVR | Ev Resources Ltd | 0.015 | 0% | $14,039,761 |
| MNS | Magnis Energy Tech | 0.165 | 0% | $179,971,587 |
| THR | Thor Energy PLC | 0.005 | 0% | $7,368,064 |
| YAR | Yari Minerals Ltd | 0.018 | 0% | $8,682,441 |
| M2R | Miramar | 0.05 | 0% | $4,019,087 |
| LLI | Loyal Lithium Ltd | 0.32 | 0% | $19,036,800 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| AUN | Aurumin | 0.0275 | 0% | $5,678,075 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| DAL | Dalaroometalsltd | 0.062 | 0% | $1,852,250 |
| TKM | Trek Metals Ltd | 0.0685 | 0% | $24,930,238 |
| TUL | Tulla Resources | 0.34 | 0% | $109,413,361 |
| OCN | Oceanalithiumlimited | 0.295 | 0% | $11,557,068 |
| CMD | Cassius Mining Ltd | 0.017 | 0% | $6,944,379 |
| PAT | Patriot Lithium | 0.24 | 0% | $14,733,000 |
| RMX | Red Mount Min Ltd | 0.004 | 0% | $9,087,404 |
| LM1 | Leeuwin Metals Ltd | 0.35 | 0% | $14,799,750 |
| ENT | Enterprise Metals | 0.006 | 0% | $4,230,484 |
| DTM | Dart Mining NL | 0.053 | 0% | $9,131,223 |
| A11 | Atlantic Lithium | 0.6175 | 0% | $377,729,829 |
| TMB | Tambourahmetals | 0.099 | -1% | $4,119,260 |
| BNR | Bulletin Res Ltd | 0.065 | -2% | $19,377,013 |
| LPM | Lithium Plus | 0.31 | -2% | $16,029,783 |
| MMC | Mitremining | 0.275 | -2% | $10,705,828 |
| GLN | Galan Lithium Ltd | 0.995 | -2% | $311,519,136 |
| SGQ | St George Min Ltd | 0.045 | -2% | $38,663,485 |
| PL3 | Patagonia Lithium | 0.185 | -3% | $9,310,665 |
| CHR | Charger Metals | 0.55 | -3% | $24,698,618 |
| MM1 | Midasmineralsltd | 0.175 | -3% | $10,283,718 |
| PSC | Prospect Res Ltd | 0.13 | -4% | $62,405,027 |
| MQR | Marquee Resource Ltd | 0.026 | -4% | $8,834,603 |
| ZNC | Zenith Minerals Ltd | 0.13 | -4% | $47,571,419 |
| STM | Sunstone Metals Ltd | 0.025 | -4% | $80,131,607 |
| SCN | Scorpion Minerals | 0.069 | -4% | $24,890,846 |
| LRD | Lordresourceslimited | 0.115 | -4% | $4,455,855 |
| BUR | Burleyminerals | 0.23 | -4% | $17,908,753 |
| LRD | Lordresourceslimited | 0.115 | -4% | $4,455,855 |
| EMC | Everest Metals Corp | 0.086 | -4% | $11,648,980 |
| EMC | Everest Metals Corp | 0.086 | -4% | $11,648,980 |
| KAI | Kairos Minerals Ltd | 0.019 | -5% | $39,281,870 |
| LRV | Larvottoresources | 0.185 | -5% | $13,114,671 |
| LIS | Lisenergylimited | 0.27 | -5% | $47,285,543 |
| AML | Aeon Metals Ltd. | 0.017 | -6% | $19,735,211 |
| AM7 | Arcadia Minerals | 0.17 | -6% | $8,405,621 |
| BYH | Bryah Resources Ltd | 0.017 | -6% | $5,062,563 |
| LLO | Lion One Metals Ltd | 0.78 | -6% | $10,060,397 |
| QPM | Queensland Pacific | 0.11 | -8% | $209,561,751 |
| SRI | Sipa Resources Ltd | 0.019 | -10% | $4,791,321 |
| PGD | Peregrine Gold | 0.27 | -10% | $16,830,783 |
| CTN | Catalina Resources | 0.0035 | -13% | $4,953,948 |
| FTL | Firetail Resources | 0.093 | -15% | $8,470,000 |
| AVW | Avira Resources Ltd | 0.0025 | -17% | $6,401,370 |
| XTC | Xantippe Res Ltd | 0.004 | -20% | $57,400,498 |
WHO’S GOT NEWS OUT?
LEO LITHIUM (ASX:LLL)
African lithium developer Leo will bag a cool cash injection from its JV partner on the Goulamina lithium mine in Mali, with China’s Ganfeng tipping $106.1 million into its 50-50 partner for a 9.9% stake.
At 81c per share that comes in at a 6.5% premium to Leo’s 5-day VWAP and just 1c below its all time high.
Well, previous all time high. Leo shares are up~17% to 85c this arvo, taking its market cap beyond $830 million.
That remains a far sight south of the $6.12b valuation of Liontown Resources (ASX:LTR), which will open its similarly sized Kathleen Valley mine in the admittedly more attractive jurisdiction of WA mid-2024, the same time as the 500,000tpa Goulamina should be producing its first concentrate.
READ:Leo Lithium bags cool $106m in Ganfeng placement in plan to make Goulamina a 1Mt mega mine
MOGUL GAMES (ASX:MGG)
The failed gaming stock will reskin as a lithium and rare earths explorer called Lithium Galaxy with a bunch of early-stage projects in James Bay of Canada, and WA.
Ignatius (Iggy) Kim-Seng Tan– who was MD at Galaxy Resources (now Allkem) until 2013 — will be appointed chairman.
MGG intends to raise up to $4.5 million (before costs) via a public offer to support the exploration of these properties.
FORRESTANIA RESOURCES (ASX:FRS)
A $1.94m entitlement issue will be used to advance FRS’ lithium projects in Australia and Canada.
Drilling is planned at the Forrestania and Eastern Goldfields projects in WA.
Funds will also be used to formalise the recently announced JV with ALX Resources on the Hydra lithium project in the James Bay region of Canada, where exploration is set to kick off 31 May 2023.
The raise was done at 7c per share – the last closing price –and includes one free option exercisable at $0.15 each on/before 30 June 2026.
KULA GOLD (ASX:KGD)
KGD reckons there’s evidence of “bladed spodumene crystals at surface” over a large area at the recently acquired Kirup project, ~20km from the world’s largest hard rock lithium mine Greenbushes in WA.
Early-stage mapping/ soil sampling has uncovered some drill targets to test for lithium below the weathered zone, which is estimated at 15-20m deep.
Exploration drill planning is in progress, it says.
Meanwhile, assays are pending from a small 4 hole for 360m drill program at the 1.7km-long DBGM gold-lithium prospect, also a proverbial stone’s throw (~45km) from Greenbushes.
FIN RESOURCES (ASX: FIN)
Multiple lithium and REE targets have been identified at FIN’s early-stage Ross project in James Bay, Quebec.
Ross, which neighbours the Whabouchi lithium deposit (36.6Mt at 1.3% Li20), will be explored with detailed field mapping, outcrop sampling and geochemical sampling during Q3.
Last week FIN uncovered possible outcropping pegmatites at the Cancet West lithium project, also in James Bay.
FIN was previously focused on a ‘zero carbon’ multi-commodity operation at the 905sqkm Sol Mar project in northern WA but pivoted to lithium earlier this year.
ST GEORGE MINING (ASX:SGQ)
SGQ has intersected more lithium mineralisation at its Jailbreak prospect, part of its Mt Alexander project in WA.
New assays have returned further intersections of lithium with peak values of 1.77% 1.47% Li2O at depths of up to 300m.
The explorer has also identified anomalous lithium, caesium, tantalum and tin values up to 16m thick.
Jailbreak remains open at depth and along strike of current drilling, along an interpreted LCT corridor which extends towards Delta Lithium’s high-grade deposits at Mt Ida.
Assays from a whopping 851 samples from RC and diamond drilling are pending, so stay tuned.
SGQ MD John Prineas said the assays they’ve received to-date demonstrate they’ve got pegmatites that commence from or near the surface down to a max of 300m along strike.
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