• Raw materials comprise around 80% of the cost of electric vehicles
  • Lake flags non-binding MoU with Hanwa Co to negotiate for up to 25,000tpa offtake
  • Ioneer’s USA subsidiary completes MoU with NexTech Batteries for Rhyolite ridge oftake

All your ASX lithium news for Tuesday, March 29.

 

Benchmark Mineral Intelligence boss Simon Moores says that the limiting factor in the production of electric vehicles (EVs) is the mining of the raw materials needed to make them.

He flagged that in 2015 raw materials comprised about 40% of the cost of a lithium ion battery. Today, that figure is a whopping 80%.

As raw material prices increase it trickles down to supply chain to batteries and the cost of EVs for end users.


And supply is looking tight out to 2030, so it makes sense that EV makers are dealing to lock in offtake and prices.

This month Tesla signed a binding four-year offtake deal for 110,00t of spodumene concentrate from Core Lithium’s (ASX:CXO) Finnish mine in the NT which is due to open in late 2022. Last month the carmaker signed a five-year deal with Liontown (ASX:LTR) from its Kathleen Valley project in WA.

 

Here’s how ASX lithium stocks are tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

 

Code Company Price % Month % Week % Today Market Cap
TSC Twenty Seven Co. Ltd 0.004 0% 33% 14% $9,312,848.67
LKE Lake Resources 1.915 112% 21% 14% $2,127,678,181.44
WC8 Wildcat Resources 0.037 28% 28% 9% $21,939,272.72
SYA Sayona Mining Ltd 0.2375 111% 36% 8% $1,561,871,566.20
ENT Enterprise Metals 0.014 0% 8% 8% $8,026,792.38
ASN Anson Resources Ltd 0.145 32% 21% 7% $137,888,902.80
AML Aeon Metals Ltd. 0.063 31% 21% 7% $51,082,724.39
INR Ioneer Ltd 0.575 10% 6% 6% $1,128,896,135.46
AGY Argosy Minerals Ltd 0.425 42% 8% 6% $530,258,793.60
MMC Mitremining 0.195 -3% 22% 5% $5,010,743.50
CXO Core Lithium 1.28 66% 4% 5% $2,083,800,593.66
AX8 Accelerate Resources 0.06 43% 25% 5% $14,447,157.24
JRL Jindalee Resources 3.15 21% 4% 5% $162,311,898.00
BNR Bulletin Res Ltd 0.215 79% 39% 5% $59,359,781.55
VKA Viking Mines Ltd 0.0115 -4% 5% 5% $11,277,842.74
WR1 Winsome Resources 0.485 49% 5% 4% $62,523,897.21
IPT Impact Minerals 0.0125 14% 14% 4% $26,285,539.03
GL1 Globallith 2.24 62% -9% 4% $333,945,998.64
QXR Qx Resources Limited 0.059 44% -5% 4% $47,359,152.30
AZL Arizona Lithium Ltd 0.155 29% -3% 3% $305,393,334.45
MRR Minrex Resources Ltd 0.062 11% 5% 3% $53,514,059.58
NWM Norwest Minerals 0.063 15% 3% 3% $11,017,050.61
GLN Galan Lithium Ltd 1.785 32% 16% 3% $521,056,338.55
INF Infinity Lithium 0.165 27% 10% 3% $66,372,710.56
LPI Lithium Pwr Int Ltd 0.66 20% -3% 3% $223,452,702.72
AAJ Aruma Resources Ltd 0.099 14% 1% 3% $15,068,304.29
SHH Shree Minerals Ltd 0.0165 10% -13% 3% $17,011,790.27
LTR Liontown Resources 1.8825 31% 8% 3% $4,011,772,112.34
ZNC Zenith Minerals Ltd 0.365 7% 14% 3% $122,085,975.03
QPM Queensland Pacific 0.185 42% 19% 3% $277,760,363.58
NMT Neometals Ltd 1.6625 24% -6% 3% $888,369,761.52
RDT Red Dirt Metals Ltd 0.67 20% 22% 2% $195,970,739.04
ESS Essential Metals Ltd 0.46 42% 3% 2% $109,916,431.20
LRV Larvottoresources 0.245 32% 14% 2% $9,889,800.00
AM7 Arcadia Minerals 0.255 19% 11% 2% $8,748,125.00
PAM Pan Asia Metals 0.525 9% 1% 2% $37,934,201.66
MIN Mineral Resources. 50.06 11% 7% 2% $9,293,318,883.31
G88 Golden Mile Res Ltd 0.06 11% -6% 2% $11,843,224.23
PLS Pilbara Min Ltd 3.25 20% 13% 2% $9,525,869,417.60
1MC Morella Corporation 0.0355 87% 11% 1% $181,167,489.51
PSC Prospect Res Ltd 0.885 5% 0% 1% $377,381,967.38
MNS Magnis Energy Tech 0.485 18% 4% 1% $463,576,957.92
CAI Calidus Resources 1 29% 7% 1% $398,274,037.92
IGO IGO Limited 13.99 28% 14% 1% $10,495,731,888.18
LEL Lithenergy 0.88 7% -10% 1% $39,375,000.00
AKE Allkem Limited 11.29 24% 13% 0% $7,172,162,842.50
AVZ AVZ Minerals Ltd 1.1875 50% 25% 0% $4,090,694,749.80
ADV Ardiden Ltd 0.014 17% 17% 0% $37,248,992.98
GXY Galaxy Resources 0 -100% -100% 0% $2,715,139,305.12
RLC Reedy Lagoon Corp. 0.03 25% 11% 0% $16,450,716.90
TKL Traka Resources 0.01 -9% -9% 0% $6,887,745.61
VUL Vulcan Energy 9.75 14% -6% 0% $1,283,539,627.50
ARN Aldoro Resources 0.315 -15% -3% 0% $28,267,655.54
BYH Bryah Resources Ltd 0.048 2% 0% 0% $10,857,944.40
EMS Eastern Metals 0.185 -5% 0% 0% $6,586,000.00
FG1 Flynngold 0.14 -15% 4% 0% $8,968,547.00
GSM Golden State Mining 0.084 6% 8% 0% $6,979,390.74
RAG Ragnar Metals Ltd 0.031 11% 3% 0% $11,553,231.56
TMB Tambourahmetals 0.25 14% 11% 0% $10,298,149.50
WCN White Cliff Min Ltd 0.025 4% -11% 0% $16,265,659.98
WML Woomera Mining Ltd 0.018 6% 6% 0% $12,272,995.19
CRR Critical Resources 0.076 3% 1% 0% $112,889,374.15
KGD Kula Gold Limited 0.047 2% 0% 0% $10,113,254.70
LRS Latin Resources Ltd 0.076 111% 13% 0% $113,619,408.80
SCN Scorpion Minerals 0.062 -11% -7% 0% $16,709,383.90
AZI Altamin Limited 0.073 14% 7% 0% $28,387,652.50
KAI Kairos Minerals Ltd 0.028 27% 8% 0% $54,938,617.75
STM Sunstone Metals Ltd 0.077 1% -6% 0% $172,443,115.38
RMX Red Mount Min Ltd 0.0095 19% 19% 0% $15,602,456.65
A8G Australasian Metals 0.46 2% -6% 0% $18,478,427.24
EFE Eastern Resources 0.049 -4% -2% 0% $48,495,716.79
MQR Marquee Resource Ltd 0.105 5% 6% 0% $22,722,273.21
LSR Lodestar Minerals 0.014 17% 27% 0% $24,338,122.87
AOA Ausmon Resorces 0.008 14% 0% 0% $6,858,314.74
SRI Sipa Resources Ltd 0.048 -6% -9% 0% $9,841,190.54
VMC Venus Metals Cor Ltd 0.18 6% 3% 0% $27,194,162.94
EPM Eclipse Metals 0.028 12% 8% 0% $53,791,539.56
CHR Charger Metals 0.685 13% -4% -1% $22,469,413.92
EMH European Metals Hldg 1.235 3% 0% -1% $175,267,321.43
AS2 Askarimetalslimited 0.525 52% 6% -1% $20,457,770.51
RIO Rio Tinto Limited 117.35 -1% 6% -1% $43,977,984,872.58
RAS Ragusa Minerals Ltd 0.081 35% 8% -1% $10,303,942.06
LPD Lepidico Ltd 0.0365 22% 7% -1% $231,563,147.54
FRS Forrestaniaresources 0.345 11% -1% -1% $9,834,581.40
EUR European Lithium Ltd 0.1475 62% 18% -2% $172,782,659.85
EVR Ev Resources Ltd 0.051 4% 4% -2% $48,151,171.69
LIT Lithium Australia NL 0.1075 2% -2% -2% $113,632,238.06
PNN PepinNini Minerals 0.43 9% 2% -2% $26,936,058.16
DTM Dart Mining NL 0.084 -16% 4% -2% $10,706,219.98
NVA Nova Minerals Ltd 0.78 28% 14% -3% $144,161,828.00
PLL Piedmont Lithium Inc 0.9575 39% 2% -3% $519,657,238.00
TON Triton Min Ltd 0.028 -7% -3% -3% $36,040,741.13
FFX Firefinch Ltd 0.935 44% 15% -4% $1,142,792,114.00
SRZ Stellar Resources 0.026 4% -4% -4% $22,607,170.90
KZR Kalamazoo Resources 0.36 24% 24% -4% $54,447,890.25
PGD Peregrine Gold 0.47 -4% 2% -4% $18,760,467.81
GT1 Greentechnology 0.845 11% 3% -5% $93,810,000.00
TEM Tempest Minerals 0.08 248% 264% -5% $33,423,675.43
IMI Infinitymining 0.155 -11% -9% -6% $9,487,500.00
RGL Riversgold 0.052 126% 44% -7% $26,020,205.40
BMM Balkanminingandmin 0.3 7% 11% -8% $10,643,750.00
MTM Mtmongerresources 0.175 6% 21% -8% $6,585,406.27
MLS Metals Australia 0.092 77% 19% -8% $36,392,809.50
AVW Avira Resources Ltd 0.0055 10% -8% -8% $12,712,740.00
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A total of 45 stocks were in the green today, with 32 flatlining and 27 in the red.

 

Who’s got news out today?

LAKE RESOURCES (ASX:LKE)

Lake has teed up a non-binding MoU with Japan-based trading company Hanwa Co to negotiate for up to 25,000tpa offtake of lithium carbonate over 10 years from its Kachi project in Argentina.

Hanwa is also willing to co-ordinate a strategic partnership between companies downstream of the battery supply chain to jointly develop a unique and effective supply chain “for mutual growth and sustainability.”

Plus, the MoU also allows for Hanwa to consider providing financial support mechanisms such as “a meaningful equity investment, a potential prepayment on offtake, and trade finance facilities” to secure a long-term agreement and build up a sustainable partnership with Lake.

The company says the finalisation of a binding long-term agreement with Hanwa will bolster its financial position as it moves towards a Final Investment Decision later in the year.

Lake Resources (ASX:LKE) share price today

 

IONEER (ASX:INR)

Ioneer’s USA subsidiary completed an MoU today with NexTech Batteries who will acquire lithium carbonate and/or lithium hydroxide supply from Ioneer’s Rhyolite Ridge lithium-boron project.

NexTech will use it to manufacture its next generation solid-state lithium-sulphure batteries and CEO Bill Burger said the company is pleased to work with a supplier like Ioneer that is ”aligned with our mission of making batteries more affordable, more sustainable and safer through patented lithium-sulphur science that’s poised to disrupt multiple industries.”

“The fact that the Rhyolite Ridge Project is located a short distance from our facility will also allow us to lower our supply chain carbon footprint, reduce dependence on foreign suppliers, and create jobs right here in Nevada.”

The two parties intend to discuss the potential for long-term supply once production has commenced.

Ioneer (ASX:INR) share price today

 

WINSOME RESOURCES (ASX:WR1)

The explorer has detected visible spodumene crystals in the initial drill core at its flagship Cancet project in Quebec, Canada.

Results are expected within 6 to 8 weeks and Winsome expects they will reveal the extent of lithium mineralisation within the pegmatites.

“While we don’t have a quantitative estimate yet how strongly mineralised the pegmatites are with lithium, the signs are very encouraging,” MD Chris Evans said.

The drilling campaign is on track to be completed by mid-April 2022.

Winsome Resources (ASX:WR1) share price today

 

NEOMETALS (ASX:NMT)

The company’s battery recycling JV, Primobius, has officially opened its 10tpd commercial lithium-ion battery (LIB) recycling plant in Germany with plans to kick off operations in Q2 2022 – pending the receipt of an operating permit.

Cornerstone feedstock has been secured from specialist German battery waste company and the remaining feedstock capacity is expected to be secured from participants in the German electric vehicle industry.

“Importantly, the Primobius 10tpd commercial disposal service will allow Primobius to showcase operational capabilities with customers,” the company says.

“Extraordinary market tailwinds support sustainable hydrometallurgical recycling to close the battery supply chain loop.

“Primobius is now well positioned in a commercial setting with an industrial scale solution ahead of potentially huge volumes of end-of-life LIBs requiring recycling from mid-decade.”

NMT says that successful completion of demonstration refinery trials has enabled engineering cost and feasibility studies for a larger 50tpd operation to be finalised ahead of investment decisions in Q3 2022.

Neometals (ASX:NMT) share price today 

 

AUSTRALASIAN METALS (ASX:A8G)

A Deep Ground Penetrating Radar (DGPR) at the company’s Mt Peake project in the NT has revealed multiple pegmatite-like structures – which MD Dr Qingtao Zeng says is consistent with the company’s de facto mapping from the surface.

“Most importantly, this technique helps us to see through the shallow sediment cover to identify potentially buried pegmatite systems to the northwest where close to spodumene mineralisation identified at surface by Core Lithium (ASX:CXO),” he said.

“The survey results have provided valuable information regarding the potential continuity of the buried lithium mineralisation, which may be linking to our Sample JC001 location.

“The company is excited to see the soil sampling program and rock chips assay results in this area, which will be incorporated into our final targeted drilling plans.”

Australasia Metals (ASX:A8G) share price today 

 

RIO TINTO (ASX:RIO)

The company has completed the acquisition of the Rincon lithium project in Argentina for a tidy $825 million, following approval from Australia’s Foreign Investment Review Board (FIRB).

It’s a large undeveloped brine project located in the heart of the lithium triangle in the Salta Province of Argentina, an emerging hub for greenfield projects.

The company says it’s a long life, scaleable resource capable of producing battery grade lithium carbonate and has the potential to have one of the lowest carbon footprints in the industry.

“Rincon strengthens our battery materials business and positions Rio Tinto to meet the double-digit growth in demand for lithium over the next decade, at a time when supply is constrained,” chief executive Jakob Stausholm said.

“We will be working with local communities, the Province of Salta and the Government of Argentina as we develop this project to the highest ESG standards.”

This comes just months after Rio was booted from Serbia amid protests against alleged environmental impacts of its US$2.4 billion Jadar lithium mine.

Let’s hope the company has more luck in Argentina convincing the locals about the ESG benefits of the Direct Lithium Extraction (DLE) technology proposed for the project.

Rio Tinto (ASX:RIO) share price today