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Eye on Lithium: Lithium prices soften as buyers take ‘watch and wait’ approach
Mining
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- Green Technology Metals’ Seymour Project returns “very high” spodumene recoveries
- Commissioning works at Argosy Minerals Rincon Project produces 99.76pc lithium carbonate product
- Kairos receives multi-element results from Lucky Sump drilling at Mt York Project
All your ASX lithium news, Thursday December 22.
Lithium chemical prices in the Chinese domestic market softened again between December 14 – 21 as traders looked to sell technical grade material in response to weakening price sentiment Benchmark Mineral Intelligence (BMI) says.
“Diverging expectations between supply chain participants on near term demand continue to limit market activity, with many buyers employing a watch-and-wait strategy amid reports that consumers remain cautious about Q1 2023 EV sales expectations in China,” the price reporting agency adds.
Meanwhile, spodumene — a lithium mineral derived from rock used to make hydroxide — “enjoyed more price rises in a lagged response to the price rally in the Chinese domestic lithium chemicals market in November, which spodumene offtake contracts are often tied to”, BMI says.
Here’s a look at how ASX lithium companies are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| MM1 | Midasmineralsltd | 0.24 | 17% | $11,712,012 |
| DAF | Discovery Alaska Ltd | 0.032 | 14% | $6,278,572 |
| AAJ | Aruma Resources Ltd | 0.062 | 11% | $8,789,844 |
| RLC | Reedy Lagoon Corp. | 0.011 | 10% | $5,667,196 |
| THR | Thor Mining PLC | 0.0065 | 8% | $8,653,277 |
| RDT | Red Dirt Metals Ltd | 0.47 | 8% | $181,014,733 |
| EFE | Eastern Resources | 0.028 | 8% | $29,992,341 |
| RAG | Ragnar Metals Ltd | 0.016 | 7% | $5,687,773 |
| MRR | Minrex Resources Ltd | 0.033 | 6% | $33,630,893 |
| INR | Ioneer Ltd | 0.415 | 6% | $818,351,924 |
| GT1 | Greentechnology | 0.765 | 5% | $139,239,027 |
| KZR | Kalamazoo Resources | 0.23 | 5% | $32,740,262 |
| ALY | Alchemy Resource Ltd | 0.023 | 5% | $25,917,678 |
| VSR | Voltaic Strategic | 0.023 | 5% | $6,741,474 |
| AS2 | Askarimetalslimited | 0.355 | 4% | $16,775,301 |
| QPM | Queensland Pacific | 0.12 | 4% | $200,830,011 |
| ZEO | Zeotech Limited | 0.049 | 4% | $77,113,166 |
| WR1 | Winsome Resources | 0.985 | 4% | $131,536,460 |
| FRS | Forrestaniaresources | 0.145 | 4% | $8,513,582 |
| A11 | Atlantic Lithium | 0.61 | 3% | $357,387,579 |
| AGY | Argosy Minerals Ltd | 0.5775 | 3% | $786,468,199 |
| MQR | Marquee Resource Ltd | 0.036 | 3% | $11,452,263 |
| STM | Sunstone Metals Ltd | 0.037 | 3% | $94,336,071 |
| ASN | Anson Resources Ltd | 0.195 | 3% | $223,868,435 |
| WML | Woomera Mining Ltd | 0.0195 | 3% | $18,167,063 |
| CY5 | Cygnus Gold Limited | 0.39 | 3% | $69,872,201 |
| LKE | Lake Resources | 0.8 | 3% | $1,085,485,993 |
| VUL | Vulcan Energy | 6.53 | 3% | $913,682,867 |
| MNS | Magnis Energy Tech | 0.3725 | 2% | $354,170,991 |
| GLN | Galan Lithium Ltd | 1.04 | 2% | $311,615,513 |
| NMT | Neometals Ltd | 0.84 | 2% | $456,011,470 |
| NWM | Norwest Minerals | 0.056 | 2% | $12,215,906 |
| ESS | Essential Metals Ltd | 0.32 | 2% | $84,126,009 |
| TUL | Tulla Resources | 0.33 | 2% | $69,175,747 |
| LPI | Lithium Pwr Int Ltd | 0.425 | 1% | $232,158,019 |
| BNR | Bulletin Res Ltd | 0.089 | 1% | $25,748,017 |
| WES | Wesfarmers Limited | 46.165 | 1% | $51,948,193,172 |
| JRL | Jindalee Resources | 1.81 | 1% | $103,282,139 |
| RIO | Rio Tinto Limited | 115.48 | 0% | $42,730,698,394 |
| ADV | Ardiden Ltd | 0.008 | 0% | $21,506,683 |
| 1MC | Morella Corporation | 0.014 | 0% | $83,321,781 |
| AML | Aeon Metals Ltd. | 0.028 | 0% | $30,699,217 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| LIT | Lithium Australia | 0.044 | 0% | $53,732,434 |
| LPD | Lepidico Ltd | 0.014 | 0% | $106,928,797 |
| MLS | Metals Australia | 0.043 | 0% | $26,102,556 |
| PLL | Piedmont Lithium Inc | 0.695 | 0% | $289,698,518 |
| PSC | Prospect Res Ltd | 0.12 | 0% | $55,471,135 |
| SYA | Sayona Mining Ltd | 0.205 | 0% | $1,780,226,465 |
| TKL | Traka Resources | 0.007 | 0% | $4,821,422 |
| TON | Triton Min Ltd | 0.037 | 0% | $51,163,015 |
| LEL | Lithenergy | 0.74 | 0% | $44,511,000 |
| ARN | Aldoro Resources | 0.185 | 0% | $20,888,779 |
| PAM | Pan Asia Metals | 0.42 | 0% | $61,679,348 |
| AX8 | Accelerate Resources | 0.027 | 0% | $8,397,749 |
| EMS | Eastern Metals | 0.076 | 0% | $2,968,895 |
| IMI | Infinitymining | 0.25 | 0% | $19,112,080 |
| CTN | Catalina Resources | 0.009 | 0% | $11,146,382 |
| TMB | Tambourahmetals | 0.115 | 0% | $4,737,149 |
| TEM | Tempest Minerals | 0.024 | 0% | $12,114,388 |
| EMC | Everest Metals Corp | 0.078 | 0% | $8,301,783 |
| CRR | Critical Resources | 0.043 | 0% | $67,847,046 |
| KGD | Kula Gold Limited | 0.022 | 0% | $7,946,662 |
| LRS | Latin Resources Ltd | 0.1 | 0% | $207,492,249 |
| AZI | Altamin Limited | 0.08 | 0% | $31,337,340 |
| ENT | Enterprise Metals | 0.009 | 0% | $6,345,726 |
| KAI | Kairos Minerals Ltd | 0.022 | 0% | $43,210,057 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| RMX | Red Mount Min Ltd | 0.0045 | 0% | $8,947,570 |
| A8G | Australasian Metals | 0.22 | 0% | $9,057,509 |
| LSR | Lodestar Minerals | 0.005 | 0% | $8,692,187 |
| AOA | Ausmon Resorces | 0.007 | 0% | $6,001,025 |
| VKA | Viking Mines Ltd | 0.01 | 0% | $10,252,584 |
| IPT | Impact Minerals | 0.007 | 0% | $17,369,594 |
| SRI | Sipa Resources Ltd | 0.036 | 0% | $8,171,493 |
| VMC | Venus Metals Cor Ltd | 0.13 | 0% | $23,150,229 |
| RGL | Riversgold | 0.027 | 0% | $25,527,628 |
| ZNC | Zenith Minerals Ltd | 0.26 | 0% | $91,341,790 |
| RAS | Ragusa Minerals Ltd | 0.12 | 0% | $16,283,543 |
| G88 | Golden Mile Res Ltd | 0.024 | 0% | $4,910,154 |
| EVR | Ev Resources Ltd | 0.015 | 0% | $13,934,761 |
| MXR | Maximus Resources | 0.043 | 0% | $13,712,948 |
| DRE | Dreadnought Resources Ltd | 0.096 | 0% | $295,636,309 |
| M2R | Miramar | 0.08 | 0% | $5,654,539 |
| XTC | Xantippe Res Ltd | 0.0055 | 0% | $52,002,691 |
| LRD | Lordresourceslimited | 0.2 | 0% | $6,656,924 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| KTA | Krakatoa Resources | 0.047 | 0% | $16,201,366 |
| FTL | Firetail Resources | 0.15 | 0% | $9,750,000 |
| IR1 | Irismetals | 1.16 | 0% | $72,766,800 |
| LNR | Lanthanein Resources | 0.022 | 0% | $21,594,663 |
| DAL | Dalaroometalsltd | 0.1 | 0% | $2,987,500 |
| CMD | Cassius Mining Ltd | 0.022 | 0% | $8,986,844 |
| SGQ | St George Min Ltd | 0.068 | 0% | $55,177,534 |
| LLL | Leolithiumlimited | 0.4775 | -1% | $473,595,318 |
| GL1 | Globallith | 1.855 | -1% | $396,682,247 |
| PLS | Pilbara Min Ltd | 3.815 | -1% | $11,511,784,942 |
| MIN | Mineral Resources. | 80.1 | -1% | $15,315,270,210 |
| AKE | Allkem Limited | 11.75 | -1% | $7,549,871,738 |
| CAI | Calidus Resources | 0.2725 | -1% | $120,431,219 |
| LTR | Liontown Resources | 1.31 | -1% | $2,910,276,839 |
| CHR | Charger Metals | 0.435 | -1% | $19,186,655 |
| IGO | IGO Limited | 13.81 | -1% | $10,586,604,026 |
| SCN | Scorpion Minerals | 0.073 | -1% | $24,694,258 |
| TKM | Trek Metals Ltd | 0.072 | -1% | $26,567,991 |
| EMH | European Metals Hldg | 0.69 | -1% | $83,672,939 |
| LRV | Larvottoresources | 0.1675 | -1% | $9,544,414 |
| GW1 | Greenwing Resources | 0.28 | -2% | $35,978,595 |
| MMC | Mitremining | 0.26 | -2% | $7,177,552 |
| AOU | Auroch Minerals Ltd | 0.051 | -2% | $22,168,647 |
| PNN | Power Minerals Ltd | 0.5 | -2% | $36,844,860 |
| CXO | Core Lithium | 1.0075 | -2% | $1,893,469,002 |
| GSM | Golden State Mining | 0.044 | -2% | $5,265,639 |
| LIS | Lisenergylimited | 0.3275 | -2% | $55,581,253 |
| MTM | Mtmongerresources | 0.079 | -2% | $4,618,962 |
| EPM | Eclipse Metals | 0.014 | -3% | $29,351,724 |
| AUN | Aurumin | 0.0695 | -3% | $12,798,928 |
| WC8 | Wildcat Resources | 0.025 | -4% | $17,212,591 |
| BYH | Bryah Resources Ltd | 0.024 | -4% | $7,031,337 |
| TYX | Tyranna Res Ltd | 0.023 | -4% | $57,730,208 |
| OCN | Oceanalithiumlimited | 0.345 | -4% | $12,717,000 |
| AZL | Arizona Lithium Ltd | 0.067 | -4% | $168,694,789 |
| AM7 | Arcadia Minerals | 0.205 | -5% | $10,040,047 |
| NVA | Nova Minerals Ltd | 0.655 | -5% | $144,666,278 |
| CZL | Cons Zinc Ltd | 0.018 | -5% | $8,795,508 |
| LLI | Loyal Lithium Ltd | 0.3 | -6% | $16,796,800 |
| DTM | Dart Mining NL | 0.058 | -6% | $9,626,130 |
| BMM | Balkanminingandmin | 0.355 | -7% | $16,344,087 |
| WCN | White Cliff Min Ltd | 0.014 | -7% | $11,299,278 |
| EUR | European Lithium Ltd | 0.075 | -7% | $117,388,373 |
| SRZ | Stellar Resources | 0.012 | -8% | $13,060,202 |
| QXR | Qx Resources Limited | 0.042 | -11% | $41,447,529 |
| PGD | Peregrine Gold | 0.415 | -11% | $18,019,628 |
| FG1 | Flynngold | 0.105 | -13% | $7,807,326 |
| INF | Infinity Lithium | 0.1125 | -20% | $64,762,893 |
The S&P/ASX200 is up today, gaining 38.60 points or 0.54% to 7,153.70 and crossing above its 50-day moving average.
In the land of lithium, 38 ASX companies rose while another 41 finished lower.
Who’s got news out?
GREEN TECHNOLOGY METALS (ASX:GT1)
GT1’s flagship Seymour Project in Canada’s Thunderbay lithium district has returned “very high” spodumene recoveries, exceeding 72pc using heavy liquid separation.
The spodumene concentrate represents a critical milestone for the business and future off-take partners, GT1 says, as well as confirming the simple stage-2 DMS flowsheet potential.
Four composite samples totalling roughly 1000kg of recent and historic diamond core, derived from the Seymour pegmatite was selected, and shipped for testing.
These results will now culminate part of the company’s preliminary economic assessment (PEA).
ARGOSY MINERALS (ASX:AGY)
Commissioning works at Argosy’s Rincon Lithium Project have produced battery quality 99.76pc lithium carbonate product as part of the overall development towards beginning the 2,000tpa operation.
The final commissioning phase works are scheduled to be completed over coming weeks, leading to then commencing the production operations ramp-up phase during Q1-CY2023.
By the end of quarter two in 2023, Argosy says it aims to target the ramp up phase and achieve steady stage production operations.
KAIROS (ASX:KAI)
Multi-element results for all 18 drill holes from Kairos’ Lucky Sump RC drilling at the Mt York Project in WA’s Pilbara have been received, indicating “extraordinary” tantalum values of up to 7m at 605ppm from 49m and lithium values of up to 146ppm.
The results suggest that Lucky Sump comprises highly-fractionated LCT pegmatites with internal mineralogical zonation – additional drill holes completed either side of Lucky Sump were also successful in tracing pegmatite extensions.
GOLDEN STATE MINING (ASX:GSM)
GSM is is progressing exploration at its self-generated Payne’s Find lithium project in the Murchison region and the newly named Nomad lithium prospect at the Yule Project in the Pilbara region of WA.
The company has completed first phase reconnaissance geochemical sampling at Payne’s Find and collected 19 rock chip samples and 704 soil samples over priority areas of interpreted shallow cover and stripped regolith profile with areas of sub-crop.
Assay results from the soil sampling are expected in late February 2023.
BALKAN MINING AND MINERALS (ASX:BMM)
BMM has completed a heliborne geomagnetic survey over the Tango lithium project located in the Georgia Lake Area, Ontario.
A total of 192 line kilometres were surveyed during three production flights.
The results will be used to understand structural fabric of the project area and design a follow-up fieldwork program.
Meanwhile, the company has also dual-listed on the Frankfurt Stock Exchange under the code “7JL” in order to broaden its stakeholder engagement.
Green Technology Metals, Argosy, Kairos, Golden State Mining, and Balkan Mining share prices today:
TREK METALS (ASX:TKM)
TKM has secured an opportunity to expand its Australian battery metals portfolio after executing an option agreement with Gempart (NT) Pty over the Princess Project in the Northern Territory.
Under the agreement, Trek has been granted an exclusive 90-day due diligence period, giving it the opportunity to undertake field exploration activities to evaluate the lithium potential of the pegmatites at the project.
The Princess Project area hosts two historic pegmatite-hosted mica mines, Pannikin and White Lady. These deposits were exploited for mica sometime in the late 1880s – 1960s, however there is no modern exploration information on the pegmatites.
Trek Metals share price today:
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