Eye on Lithium: Livent wary of big billionaire blockers; Galan's Glencore deal turns heads

Galan Lithium inks offtake funding deal with big mining player Glencore
Livent and Allkem bosses are looking over shoulders for deep-pocketed deal roilers

Lithium news roundup, Thursday November 16.

The M&A scene in Australia’s lithium land of plenty keeps frothing, with global mining and trading house Glencore committing to an offtake funding deal with Galan Lithium.

Meanwhile, Allkem and Livent’s bosses have indicated they’re wary of deep-pocketed deal-busters Gina Rinehart and Mineral Resources’ Chris Ellison.

First, though, Galan…

We’ve written an in-depth special report on this news today, so for full details definitely head there. But, in brief:

The renowned global mining and trading house Glencore has agreed to purchase up to 100% of the proposed lithium chloride concentrate production from Phase 1 operations at Galan Lithium’s Hombre Muerto West project, which is in Argentina.

It has also agreed to provide the emerging lithium developer with US$70-100 million of prepayment finance.

This, reads our report, is arguably the biggest milestone in Galan Lithium’s (ASX:GLN) quest to become Argentina’s next lithium producer during the first half of 2025.

Spodumene enthusiast “@_gobbler” seems to dig the news, reposting the company’s ASX announcement from this morning…

$GLN Galan #Lithium secures 70-100m USD prepayment and offtake for Phase 1 lithium chloride (5.4kt LCE production from H1 2025) $GLEN pic.twitter.com/6nbdUipMc1

— gobbler 🐓 (@_gobbler) November 15, 2023

Livent’s lament

Bloomberg reports that amid the lithium-junior deal-roiling shares buy-ups by Hancock Prospecting’s Gina Rinehart and Mineral Resources’ Chris Ellison over in WA, main players in another potential deal – between Allkem and US company Livent – have had something to say about it.

With her near-20% stake, iron ore billionaire Rinehart essentially forced US giant Albemarle to walk away from its bid for Liontown Resources in October.

Meanwhile it seems Rinehart and MinRes boss Ellison are also, between them, building up a big enough pot to potentially disrupt the agreed $1.6bn cash bid for Azure Minerals from Chilean gun SQM.

“For us, if there’s any meaningful risk of somebody coming in and trying to interfere with our freedom to operate a resource, then we don’t want that resource,” said Livent CEO Paul Graves this week, per Bloomberg.

“It’s another voice in the room that may have a different view as to what to do.”

Allkem and Livent are planning to combine in a venture called Arcadium, in what they expect to become the world’s third largest lithium producer by 2027.

Allkem shareholders are meeting on Dec 19 to vote on the merger.

“It’s becoming difficult for newcomers to be able to bring the production onstream,” said Allkem CEO Martín Pérez de Solay.

“Incumbents like us are clearly favour the current dynamics in the industry because we continue to be able to deliver,” he added.

Here’s something else

The Visual Capitalist makes some damn attractive infographics and charts and whatnot. Not to mention bringing the data-tastic goodness.

This one – titled “Breaking Down the $400B Battery Value Chain” – caught our eyes this morning. Partly for the colourful wheel, partly for the stats in its broader piece, put together with US tech company EnergyX.

Statistcal eye openers include:

• The lithium battery industry is projected to grow fivefold by 2030.

• This is projected to create over US$400b in annual revenue opportunities across the globe.

Meanwhile, Australia makes the top 50 most innovative countries in the world…

… out of 132.

Ranked: The Most Innovative Countries in 2023 💡https://t.co/GEVvEFCIan pic.twitter.com/IPoQqVqrxR

— Visual Capitalist (@VisualCap) November 14, 2023

ASX lithium form guide:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at 3pm.)

Stocks missing from this list?

Email [email protected] and/or [email protected]

CODE	COMPANY	PRICE	DAILY RTN %	1 WEEK %	1 MTH %	YTD %	MARKET CAP
ADV	Ardiden Ltd	0.005	0%	0%	-17%	0%	$13,441,677
AGY	Argosy Minerals Ltd	0.155	0%	-9%	-18%	-42%	$217,683,162
1MC	Morella Corporation	0.007	17%	17%	27%	-1%	$36,981,556
AML	Aeon Metals Ltd.	0.008	0%	-20%	-47%	-2%	$8,771,205
ASN	Anson Resources Ltd	0.165	0%	0%	14%	-2%	$212,146,963
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	0%	$2,752,409,203
CXO	Core Lithium	0.365	-4%	-5%	-3%	-66%	$812,035,507
EMH	European Metals Hldg	0.615	-1%	-1%	-2%	-3%	$78,661,706
ESS	Essential Metals Ltd	0.5	0%	0%	4%	18%	$135,278,382
EUR	European Lithium Ltd	0.079	-1%	-1%	13%	1%	$111,539,134
GLN	Galan Lithium Ltd	0.75	8%	27%	9%	-32%	$245,489,485
INF	Infinity Lithium	0.115	5%	40%	28%	-1%	$50,885,130
INR	Ioneer Ltd	0.16	3%	-3%	-18%	-22%	$327,268,883
JRL	Jindalee Resources	1.08	0%	-4%	-37%	-81%	$65,140,326
LIT	Lithium Australia	0.032	-3%	-3%	0%	-1%	$40,332,325
LKE	Lake Resources	0.165	-6%	-6%	-15%	-64%	$248,927,824
LPD	Lepidico Ltd	0.009	0%	-10%	-22%	-1%	$68,744,772
LPI	Lithium Pwr Int Ltd	0.53	-1%	1%	22%	9%	$340,272,554
LTR	Liontown Resources	1.47	-4%	-7%	-47%	15%	$3,669,773,435
MIN	Mineral Resources.	62.6	0%	6%	0%	-1460%	$12,257,707,678
MLS	Metals Australia	0.036	-3%	0%	9%	-1%	$23,089,339
AKE	Allkem Limited	9.05	-1%	-3%	-23%	-219%	$5,830,610,192
PLL	Piedmont Lithium Inc	0.45	2%	2%	-19%	-20%	$161,760,192
PLS	Pilbara Min Ltd	3.57	-3%	-3%	-14%	-18%	$11,044,727,962
QPM	Queensland Pacific	0.056	0%	-5%	-14%	-5%	$112,702,257
PSC	Prospect Res Ltd	0.099	2%	10%	32%	-2%	$44,839,168
RLC	Reedy Lagoon Corp.	0.005	0%	0%	-17%	0%	$3,083,418
SYA	Sayona Mining Ltd	0.079	-2%	-9%	-14%	-11%	$833,756,977
TKL	Traka Resources	0.0045	0%	-10%	-25%	0%	$3,938,982
TON	Triton Min Ltd	0.0245	11%	-2%	17%	-1%	$34,349,911
VUL	Vulcan Energy	2.71	5%	9%	-1%	-362%	$434,305,077
GL1	Globallith	1.26	-6%	2%	-7%	-59%	$347,017,496
BMM	Balkanminingandmin	0.15	-6%	25%	-12%	-18%	$11,009,148
LEL	Lithenergy	0.59	0%	-9%	5%	-18%	$60,775,900
ARN	Aldoro Resources	0.085	2%	-1%	-11%	-8%	$11,173,771
NMT	Neometals Ltd	0.26	0%	4%	-24%	-54%	$143,860,064
IGO	IGO Limited	8.85	-4%	-5%	-24%	-461%	$7,004,727,270
AAJ	Aruma Resources Ltd	0.036	0%	3%	6%	-2%	$7,088,094
PAM	Pan Asia Metals	0.15	-3%	-3%	-25%	-26%	$25,888,322
AX8	Accelerate Resources	0.055	6%	38%	83%	3%	$24,544,114
AM7	Arcadia Minerals	0.089	0%	11%	-15%	-12%	$9,705,459
AS2	Askarimetalslimited	0.195	3%	26%	3%	-24%	$14,639,540
BYH	Bryah Resources Ltd	0.02	5%	67%	48%	-1%	$6,813,500
EMS	Eastern Metals	0.033	0%	10%	6%	-4%	$2,720,066
FG1	Flynngold	0.065	-12%	-4%	8%	-4%	$10,092,311
FRS	Forrestaniaresources	0.032	10%	7%	-9%	-11%	$2,966,747
GSM	Golden State Mining	0.022	-4%	-12%	-41%	-2%	$4,395,030
IMI	Infinitymining	0.15	25%	36%	11%	-13%	$9,343,166
LRV	Larvottoresources	0.12	0%	-8%	-4%	-4%	$8,070,567
MMC	Mitremining	0.24	0%	14%	0%	-4%	$10,884,024
RAG	Ragnar Metals Ltd	0.024	0%	-4%	0%	1%	$11,375,543
CTN	Catalina Resources	0.004	0%	14%	0%	-1%	$4,953,948
TMB	Tambourahmetals	0.125	-7%	-19%	0%	2%	$11,196,948
TEM	Tempest Minerals	0.009	0%	13%	6%	-1%	$4,602,451
EMC	Everest Metals Corp	0.095	0%	8%	-24%	2%	$15,511,895
WCN	White Cliff Min Ltd	0.012	0%	0%	-8%	0%	$15,084,223
WML	Woomera Mining Ltd	0.026	8%	53%	160%	1%	$28,648,669
AZL	Arizona Lithium Ltd	0.037	-10%	16%	147%	-3%	$136,070,227
CRR	Critical Resources	0.028	-7%	-3%	-24%	-2%	$53,335,508
KGD	Kula Gold Limited	0.032	52%	167%	146%	1%	$7,837,450
LRS	Latin Resources Ltd	0.21	-9%	-21%	-29%	11%	$637,676,426
PNN	Power Minerals Ltd	0.27	4%	8%	8%	-26%	$22,403,206
WR1	Winsome Resources	1.23	-3%	-10%	0%	0%	$225,545,706
KZR	Kalamazoo Resources	0.12	9%	20%	24%	-9%	$18,850,642
MTM	MTM Critical Metals	0.024	-4%	4%	-27%	-6%	$2,483,427
QXR	Qx Resources Limited	0.028	-13%	-18%	4%	-1%	$35,383,291
SCN	Scorpion Minerals	0.053	-4%	4%	-4%	-2%	$19,068,841
AZI	Altamin Limited	0.059	2%	-2%	-5%	-2%	$22,720,708
ENT	Enterprise Metals	0.004	0%	33%	0%	-1%	$3,197,884
KAI	Kairos Minerals Ltd	0.016	0%	-6%	-20%	0%	$41,934,595
STM	Sunstone Metals Ltd	0.017	0%	-6%	6%	-2%	$52,393,743
PGD	Peregrine Gold	0.28	-2%	-10%	12%	-11%	$16,090,131
AVW	Avira Resources Ltd	0.002	0%	0%	0%	0%	$4,267,580
NVA	Nova Minerals Ltd	0.255	2%	-2%	0%	-43%	$52,722,490
GT1	Greentechnology	0.425	-6%	9%	-11%	-40%	$124,265,607
BNR	Bulletin Res Ltd	0.165	-6%	-6%	38%	7%	$51,378,443
CAI	Calidus Resources	0.17	-3%	-8%	13%	-10%	$106,791,476
MRR	Minrex Resources Ltd	0.016	10%	7%	-6%	-2%	$15,730,579
A8G	Australasian Metals	0.17	-6%	-15%	-17%	-2%	$9,381,689
EFE	Eastern Resources	0.01	-17%	11%	0%	-2%	$14,903,358
MQR	Marquee Resource Ltd	0.033	10%	27%	22%	0%	$12,401,531
SRZ	Stellar Resources	0.009	0%	0%	-18%	0%	$9,883,678
LSR	Lodestar Minerals	0.004	0%	0%	-20%	0%	$8,093,589
NWM	Norwest Minerals	0.03	-12%	-6%	3%	-2%	$9,777,363
AOA	Ausmon Resorces	0.003	0%	0%	0%	0%	$3,020,998
VKA	Viking Mines Ltd	0.012	9%	20%	20%	0%	$11,277,843
IPT	Impact Minerals	0.0115	-4%	5%	15%	0%	$34,376,447
SRI	Sipa Resources Ltd	0.021	0%	0%	11%	-1%	$4,791,321
VMC	Venus Metals Cor Ltd	0.1	0%	-5%	-13%	2%	$18,972,868
RGL	Riversgold	0.011	0%	22%	-15%	-2%	$10,463,876
ZNC	Zenith Minerals Ltd	0.17	-3%	31%	70%	-10%	$61,666,655
RAS	Ragusa Minerals Ltd	0.058	7%	35%	57%	-6%	$7,700,334
G88	Golden Mile Res Ltd	0.025	0%	4%	25%	0%	$8,234,738
EPM	Eclipse Metals	0.009	0%	0%	-25%	-1%	$18,394,238
EVR	Ev Resources Ltd	0.011	-8%	0%	-21%	0%	$11,337,358
WC8	Wildcat Resources	0.8	1%	-6%	86%	78%	$822,271,109
MNS	Magnis Energy Tech	0.061	-2%	-25%	-18%	-31%	$74,368,885
RIO	Rio Tinto Limited	125.17	0%	5%	9%	876%	$46,628,468,641
THR	Thor Energy PLC	0.028	4%	12%	4%	-3%	$5,035,292
YAR	Yari Minerals Ltd	0.016	0%	7%	23%	0%	$7,717,725
MXR	Maximus Resources	0.045	0%	13%	61%	1%	$14,427,260
DRE	Dreadnought Resources Ltd	0.034	3%	3%	-24%	-7%	$114,079,195
MM1	Midasmineralsltd	0.15	0%	-3%	-17%	-5%	$13,012,087
M2R	Miramar	0.024	0%	9%	-45%	-5%	$3,572,869
LLI	Loyal Lithium Ltd	0.435	4%	1%	-19%	14%	$34,196,870
LRD	Lordresourceslimited	0.078	-4%	13%	16%	-9%	$3,007,702
WMC	Wiluna Mining Corp	0.205	0%	0%	0%	0%	$74,238,031
AUN	Aurumin	0.021	5%	-16%	-19%	-4%	$6,368,862
ZEO	Zeotech Limited	0.042	0%	-19%	-18%	-1%	$72,593,769
ALY	Alchemy Resource Ltd	0.01	-9%	-9%	0%	-1%	$12,958,839
LIS	Lisenergylimited	0.205	-9%	0%	-20%	-12%	$144,045,052
GW1	Greenwing Resources	0.15	0%	15%	3%	-13%	$26,137,722
KTA	Krakatoa Resources	0.039	-9%	50%	105%	-1%	$18,700,610
TYX	Tyranna Res Ltd	0.017	6%	6%	6%	-1%	$52,582,805
DAF	Discovery Alaska Ltd	0.016	-6%	7%	-20%	-2%	$3,981,990
FTL	Firetail Resources	0.105	0%	5%	8%	-6%	$15,635,083
IR1	Irismetals	1.455	5%	-3%	-12%	30%	$168,794,625
LNR	Lanthanein Resources	0.007	0%	-13%	-13%	-1%	$7,851,029
DAL	Dalaroometalsltd	0.031	-11%	0%	-40%	-7%	$2,856,000
TKM	Trek Metals Ltd	0.052	4%	2%	58%	-2%	$24,882,004
CY5	Cygnus Metals Ltd	0.155	0%	-7%	-3%	-23%	$44,956,609
TUL	Tulla Resources	0	0%	-100%	-100%	-33%	$118,262,971
WES	Wesfarmers Limited	53.99	0%	2%	2%	808%	$61,451,049,728
LLL	Leolithiumlimited	0.505	0%	0%	0%	2%	$498,553,663
OCN	Oceanalithiumlimited	0.18	44%	44%	6%	-17%	$6,634,563
A11	Atlantic Lithium	0.51	-10%	28%	-2%	-11%	$345,916,538
CMD	Cassius Mining Ltd	0.035	-3%	0%	-10%	2%	$17,882,215
VSR	Voltaic Strategic	0.021	5%	-16%	-13%	0%	$9,662,078
SGQ	St George Min Ltd	0.036	-3%	-20%	-10%	-3%	$34,922,011
LLO	Lion One Metals Ltd	1	0%	1%	-5%	-17%	$14,688,840
PAT	Patriot Lithium	0.19	-12%	-10%	12%	-8%	$14,731,183
PL3	Patagonia Lithium	0.14	0%	8%	-7%	0%	$6,860,490
BUR	Burleyminerals	0.18	3%	-16%	13%	-4%	$17,726,932
CHR	Charger Metals	0.33	0%	10%	136%	-12%	$20,497,741
RMX	Red Mount Min Ltd	0.004	0%	0%	0%	0%	$10,694,304
DLI	Delta Lithium	0.515	5%	-6%	-25%	5%	$261,544,665
LM1	Leeuwin Metals Ltd	0.23	0%	-13%	-29%	0%	$10,300,550
ENT	Enterprise Metals	0.004	0%	33%	0%	-1%	$3,197,884
FIN	FIN Resources Ltd	0.031	0%	-3%	35%	1%	$20,124,230
DTM	Dart Mining NL	0.019	0%	6%	-12%	-4%	$3,683,066
NIS	Nickelsearch	0.11	5%	-8%	96%	-5%	$18,789,266
EG1	Evergreenlithium	0.195	5%	8%	-25%	0%	$10,402,550
MAN	Mandrake Res Ltd	0.037	3%	3%	3%	0%	$21,555,357
FBM	Future Battery	0.075	-17%	-12%	-38%	2%	$45,891,539
XTC	Xantippe Res Ltd	0.001	0%	0%	0%	0%	$17,528,005
LPM	Lithium Plus	0.52	5%	1%	11%	15%	$42,564,159
KOB	Kobaresourceslimited	0.077	-8%	-8%	1%	-6%	$8,855,000
EMC	Everest Metals Corp	0.095	0%	8%	-24%	2%	$15,511,895
LRD	Lordresourceslimited	0.078	-4%	13%	16%	-9%	$3,007,702
IEC	Intra Energy Corp	0.004	33%	0%	-20%	0%	$4,982,345
REC	Rechargemetals	0.135	0%	13%	-18%	0%	$15,032,516
SLM	Solismineralsltd	0.2	-9%	-15%	-27%	13%	$17,126,715
AZS	Azure Minerals	4.02	1%	3%	68%	380%	$1,830,131,504
DYM	Dynamicmetalslimited	0.18	0%	-12%	-3%	0%	$6,300,000
TOR	Torque Met	0.16	0%	-18%	-53%	-2%	$20,947,853
SBR	Sabre Resources	0.044	7%	16%	22%	1%	$14,644,739
ICL	Iceni Gold	0.059	0%	2%	-18%	-2%	$14,151,571
TMX	Terrain Minerals	0.004	0%	-20%	0%	0%	$5,413,711
MHC	Manhattan Corp Ltd	0.004	0%	-11%	0%	0%	$11,747,919
MHK	Metalhawk.	0.235	31%	0%	180%	7%	$14,260,600
NKL	Nickelxltd	0.058	-11%	-9%	-5%	-2%	$5,707,986
TMB	Tambourahmetals	0.125	-7%	-19%	0%	2%	$11,196,948
ANX	Anax Metals Ltd	0.029	-9%	-9%	-17%	-2%	$15,389,364
PMT	Patriotbatterymetals	1.03	-5%	-6%	-15%	28%	$426,400,986
BM8	Battery Age Minerals	0.195	-3%	-3%	-15%	-31%	$17,827,378
L1M	Lightning Minerals	0.15	7%	15%	11%	-2%	$5,701,509
ADG	Adelong Gold Limited	0.006	-14%	0%	-14%	0%	$4,174,256
TOR	Torque Met	0.16	0%	-18%	-53%	-2%	$20,947,853
AL8	Alderan Resource Ltd	0.008	14%	-38%	-43%	0%	$7,748,029
OZM	Ozaurum Resources	0.2	54%	29%	102%	13%	$20,637,500
FL1	First Lithium Ltd	0.535	-6%	41%	106%	36%	$39,929,450
PLN	Pioneer Lithium	0.295	4%	-5%	-18%	0%	$8,101,125
WYX	Western Yilgarn NL	0.125	14%	9%	30%	-1%	$5,462,325
RDN	Raiden Resources Ltd	0.076	21%	95%	230%	7%	$156,372,126
PFE	Panteraminerals	0.062	0%	7%	5%	-5%	$6,638,498
GRE	Greentechmetals	0.74	-4%	-13%	164%	60%	$49,875,466
OLY	Olympio Metals Ltd	0.15	0%	11%	-6%	1%	$9,539,925
SUM	Summitminerals	0.11	0%	10%	0%	-4%	$5,242,284
JBY	James Bay Minerals	0.395	3%	23%	11%	0%	$12,491,325
SCN	Scorpion Minerals	0.053	-4%	4%	-4%	-2%	$19,068,841
JNO	Juno	0.08	0%	3%	1%	-2%	$12,912,240
CC9	Chariot Corporation	0.425	16%	27%	0%	0%	$26,766,022
OBM	Ora Banda Mining Ltd	0.18	-3%	13%	80%	10%	$315,507,301
RON	Roninresourcesltd	0.19	6%	52%	36%	3%	$6,155,657
ASR	Asra Minerals Ltd	0.014	0%	56%	75%	-1%	$20,386,879