Pic: via Getty Images.
Eye on Lithium: MinRes and Albemarle rejig MARBL JV
Mining
share
- MinRes (ASX:MIN) simplifies deal with Albemarle for Wodgina mine and Kemerton plant
- Drill targeting work underway at Recharge Metals’ (ASX:RED) Wapistan project in Canada
- Askari Metals (ASX:AS2) finds highly prospective ‘corridor of interest’ at the Uis project in Namibia
All your lithium news, Thursday July 20.
Mineral Resources (ASX:MIN) has simplified the terms of the deal signed with lithium giant Albemarle (NYSE:ALB) back in February, with the updated MARBL JV to simplify the commercial arrangements between the two companies and “ensure each has the flexibility and focus required to deliver value for their shareholders in an evolving market.”
Basically, MinRes’ share of the Wodgina lithium mine will increase to 50% and MinRes will remain the operator of the mine. Albemarle will take full ownership of the Kemerton lithium hydroxide plant, which it currently operates.
Albemarle will pay MinRes an estimated US$380-400 million including the net consideration for MinRes’ share of Kemerton and completion adjustments at Wodgina and Kemerton.
But under the updated agreements, MinRes will no longer invest in any Chinese conversion assets with Albemarle and will not make any payments to Albemarle for joint downstream investments.
MinRes will enter a transitional tolling arrangement with Albemarle to convert Wodgina spodumene until 30 June 2024 to allow MinRes to continue to build its team in China.
The company will transition to market its own share of Wodgina spodumene concentrate and lithium battery chemicals within two months of the Completion Date and has established an office and warehouse in Ningbo, China.
MinRes said building downstream capacity in Australia remains the preference if the project economics deliver value.
“For MinRes, we’ve unlocked value from our non-integrated Kemerton processing facility, which will provide flexibility to continue expanding our hard rock assets and developing our own integrated lithium conversion assets in Australia and abroad,” chief executive lithium Josh Thurlow said.
Whos’ Hot:
The day’s biggest gains
Terrain Minerals (ASX:TMX) +20%
Ardiden (ASX:ADV) +17%
Golden State Mining (ASX:GSM) +14%
Who’s Not:
The day’s biggest falls
Stellar Resources (ASX:SRZ) -13%
Flynn Gold (ASX:FG1) -11%
Here’s how Aussie lithium stocks are tracking:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.
Stocks missing from this list? Email [email protected]
Code Company % Today YTD% Price Market Cap TMX Terrain Minerals 20% 0% 0.006 $5,415,997 ADV Ardiden Ltd 17% 0% 0.007 $16,130,012 GSM Golden State Mining 14% -7% 0.04 $6,688,090 IEC Intra Energy Corp 13% -44% 0.0045 $6,483,126 LRS Latin Resources Ltd 12% 318% 0.41 $955,465,579 BYH Bryah Resources Ltd 12% -26% 0.019 $5,873,590 KZR Kalamazoo Resources 11% -26% 0.155 $21,713,942 DAF Discovery Alaska Ltd 10% 3% 0.033 $7,027,041 TKM Trek Metals Ltd 10% 45% 0.11 $44,312,008 AZS Azure Minerals 9% 753% 1.92 $686,815,487 DAL Dalaroometalsltd 7% -41% 0.059 $2,382,875 1MC Morella Corporation 7% -38% 0.0075 $42,690,063 LPD Lepidico Ltd 6% 6% 0.017 $122,212,892 PNN Power Minerals Ltd 6% -33% 0.355 $24,499,985 YAR Yari Minerals Ltd 6% 6% 0.018 $8,200,083 MIN Mineral Resources. 6% -1% 76.14 $14,014,275,207 DLI Delta Lithium 6% 99% 0.945 $467,080,830 MHC Manhattan Corp Ltd 5% 82% 0.01 $27,894,648 PL3 Patagonia Lithium 5% 0% 0.205 $9,555,683 LNR Lanthanein Resources 5% 5% 0.022 $23,553,087 SRI Sipa Resources Ltd 5% -28% 0.023 $5,019,479 MNS Magnis Energy Tech 4% -68% 0.12 $128,263,121 MTM MTM Critical Metals 4% 27% 0.1 $9,316,485 TYX Tyranna Res Ltd 4% 4% 0.025 $74,554,208 RGL Riversgold 4% -57% 0.013 $11,890,768 NMT Neometals Ltd 4% -36% 0.5125 $273,606,882 LRV Larvottoresources 3% 0% 0.16 $10,424,482 LLO Lion One Metals Ltd 3% -13% 1.015 $13,329,851 TOR Torque Met 3% -6% 0.17 $15,895,611 KOB Kobaresourceslimited 3% 25% 0.175 $17,920,833 CAI Calidus Resources 3% -26% 0.2 $118,483,982 EMH European Metals Hldg 3% 27% 0.81 $98,762,273 BNR Bulletin Res Ltd 2% -40% 0.056 $16,147,511 OCN Oceanalithiumlimited 2% -13% 0.3 $15,394,833 CHR Charger Metals 2% -28% 0.32 $19,566,026 EMS Eastern Metals 2% -12% 0.065 $4,258,549 AZL Arizona Lithium Ltd 2% -46% 0.0335 $91,128,811 IGO IGO Limited 1% 11% 14.93 $11,184,845,598 LTR Liontown Resources 1% 118% 2.88 $6,276,428,420 ZNC Zenith Minerals Ltd 1% -64% 0.096 $33,476,184 WR1 Winsome Resources 1% 34% 1.65 $266,466,408 RIO Rio Tinto Limited 1% 0% 116.63 $43,064,792,986 AML Aeon Metals Ltd. 0% -37% 0.017 $18,638,811 AVZ AVZ Minerals Ltd 0% 0% 0.78 $2,752,409,203 ESS Essential Metals Ltd 0% 55% 0.505 $135,774,283 INR Ioneer Ltd 0% -13% 0.33 $696,106,221 JRL Jindalee Resources 0% 1% 1.905 $109,306,930 LIT Lithium Australia 0% -24% 0.034 $41,520,517 LPI Lithium Pwr Int Ltd 0% -31% 0.305 $191,917,456 MLS Metals Australia 0% -26% 0.033 $20,593,194 TKL Traka Resources 0% 25% 0.01 $8,713,293 GL1 Globallith 0% -6% 1.73 $449,442,234 BMM Balkanminingandmin 0% -42% 0.19 $11,603,683 ARN Aldoro Resources 0% -13% 0.14 $18,819,324 AAJ Aruma Resources Ltd 0% -15% 0.045 $8,829,083 AX8 Accelerate Resources 0% -9% 0.021 $7,971,637 FRS Forrestaniaresources 0% -18% 0.115 $10,709,077 MMC Mitremining 0% 7% 0.3 $11,470,530 RAG Ragnar Metals Ltd 0% 101% 0.023 $8,721,252 CTN Catalina Resources 0% -60% 0.004 $4,953,948 TEM Tempest Minerals 0% -35% 0.015 $7,602,325 WML Woomera Mining Ltd 0% -32% 0.013 $12,430,529 CRR Critical Resources 0% 23% 0.053 $84,522,008 KGD Kula Gold Limited 0% -32% 0.017 $6,344,603 QXR Qx Resources Limited 0% -45% 0.023 $20,627,833 AZI Altamin Limited 0% 0% 0.08 $31,337,340 ENT Enterprise Metals 0% -50% 0.005 $3,747,355 KAI Kairos Minerals Ltd 0% 10% 0.023 $50,234,150 AVW Avira Resources Ltd 0% -17% 0.0025 $5,334,475 A8G Australasian Metals 0% -16% 0.16 $8,339,279 LSR Lodestar Minerals 0% 40% 0.007 $12,903,781 VKA Viking Mines Ltd 0% 20% 0.012 $12,303,101 RAS Ragusa Minerals Ltd 0% -45% 0.063 $8,983,724 EPM Eclipse Metals 0% 38% 0.022 $44,617,315 EVR Ev Resources Ltd 0% -7% 0.013 $12,167,793 THR Thor Energy PLC 0% -33% 0.004 $5,837,166 LLI Loyal Lithium Ltd 0% 8% 0.32 $19,996,800 LRD Lordresourceslimited 0% -46% 0.091 $3,379,023 WMC Wiluna Mining Corp 0% 0% 0.205 $74,238,031 AUN Aurumin 0% -57% 0.026 $7,645,030 ALY Alchemy Resource Ltd 0% -35% 0.015 $17,671,144 LIS Lisenergylimited 0% -13% 0.28 $46,455,972 GW1 Greenwing Resources 0% -20% 0.22 $32,980,151 TUL Tulla Resources 0% -100% 0 $118,262,971 LLL Leolithiumlimited 0% 135% 1.14 $1,125,447,873 A11 Atlantic Lithium 0% -23% 0.475 $289,389,789 VSR Voltaic Strategic 0% 70% 0.04 $14,778,310 SGQ St George Min Ltd 0% -40% 0.041 $34,460,933 BUR Burleyminerals 0% -23% 0.17 $17,220,449 RMX Red Mount Min Ltd 0% 0% 0.005 $11,359,255 LM1 Leeuwin Metals Ltd 0% 0% 0.36 $16,122,600 ENT Enterprise Metals 0% -50% 0.005 $3,747,355 FIN FIN Resources Ltd 0% -21% 0.015 $9,315,530 XTC Xantippe Res Ltd 0% -60% 0.002 $22,960,199 LRD Lordresourceslimited 0% -46% 0.091 $3,379,023 SBR Sabre Resources 0% -5% 0.036 $10,493,503 ICL Iceni Gold 0% 44% 0.115 $23,985,714 MHK Metalhawk. 0% -21% 0.13 $8,849,077 BM8 Battery Age Minerals 0% -8% 0.46 $34,140,355 L1M Lightning Minerals 0% 12% 0.185 $7,255,367 AKE Allkem Limited 0% 47% 16.48 $10,514,981,838 PLS Pilbara Min Ltd 0% 36% 5.115 $15,380,701,778 IR1 Irismetals 0% 22% 1.415 $113,216,600 WES Wesfarmers Limited 0% 7% 49.06 $55,849,127,128 VUL Vulcan Energy 0% -26% 4.68 $786,475,915 CXO Core Lithium -1% -11% 0.9125 $1,709,835,450 LKE Lake Resources -1% -66% 0.2725 $391,172,294 TMB Tambourahmetals -1% 88% 0.1975 $8,453,841 TMB Tambourahmetals -1% 88% 0.1975 $8,453,841 MM1 Midasmineralsltd -1% 90% 0.38 $28,278,024 SCN Scorpion Minerals -1% 3% 0.072 $25,236,552 SYA Sayona Mining Ltd -1% -7% 0.1775 $1,807,044,844 EG1 Evergreenlithium -1% 0% 0.335 $19,118,200 ASN Anson Resources Ltd -2% -15% 0.1575 $203,283,770 ANX Anax Metals Ltd -2% 17% 0.062 $25,791,874 DRE Dreadnought Resources Ltd -2% -44% 0.059 $199,663,693 NIS Nickelsearch -2% -63% 0.059 $5,715,622 LPM Lithium Plus -2% -20% 0.295 $19,796,460 DYM Dynamicmetalslimited -2% 0% 0.28 $9,975,000 PMT Patriotbatterymetals -2% 106% 1.545 $535,948,466 EUR European Lithium Ltd -2% 20% 0.089 $126,875,765 GT1 Greentechnology -2% -19% 0.665 $144,824,716 PLL Piedmont Lithium Inc -2% 36% 0.88 $344,567,250 M2R Miramar -2% -42% 0.044 $4,159,755 QPM Queensland Pacific -2% -2% 0.1075 $192,098,271 ZEO Zeotech Limited -2% -11% 0.042 $73,354,692 AGY Argosy Minerals Ltd -3% -32% 0.39 $561,762,999 MQR Marquee Resource Ltd -3% 5% 0.039 $13,228,300 KTA Krakatoa Resources -3% -18% 0.036 $13,444,934 EMC Everest Metals Corp -3% 122% 0.175 $23,297,960 EMC Everest Metals Corp -3% 122% 0.175 $23,297,960 GLN Galan Lithium Ltd -3% -21% 0.84 $291,431,825 IMI Infinitymining -3% -42% 0.16 $12,618,923 TON Triton Min Ltd -3% -14% 0.031 $49,963,379 NWM Norwest Minerals -3% 15% 0.062 $17,768,609 WC8 Wildcat Resources -3% 546% 0.155 $106,491,456 REC Rechargemetals -3% 130% 0.31 $33,787,032 NKL Nickelxltd -3% -24% 0.061 $5,445,423 MRR Minrex Resources Ltd -3% -53% 0.015 $16,815,446 CY5 Cygnus Metals Ltd -3% -21% 0.3 $69,213,866 FTL Firetail Resources -3% -45% 0.088 $8,758,750 PSC Prospect Res Ltd -4% 8% 0.13 $62,405,027 PAM Pan Asia Metals -4% -41% 0.24 $38,816,576 VMC Venus Metals Cor Ltd -4% 53% 0.12 $23,716,085 FBM Future Battery -4% 117% 0.115 $51,341,416 EFE Eastern Resources -4% -62% 0.011 $14,282,384 NVA Nova Minerals Ltd -4% -53% 0.32 $70,648,137 MAN Mandrake Res Ltd -5% 3% 0.041 $25,746,677 CMD Cassius Mining Ltd -5% 90% 0.038 $19,869,128 PAT Patriot Lithium -5% 0% 0.265 $17,188,501 LEL Lithenergy -6% -5% 0.73 $79,832,750 G88 Golden Mile Res Ltd -6% 136% 0.048 $16,798,865 SLM Solismineralsltd -7% 727% 0.62 $41,902,530 PGD Peregrine Gold -7% -31% 0.265 $15,989,244 STM Sunstone Metals Ltd -7% -32% 0.025 $83,213,592 AS2 Askarimetalslimited -8% -36% 0.28 $20,852,988 INF Infinity Lithium -8% -8% 0.11 $55,511,051 AM7 Arcadia Minerals -8% -46% 0.11 $11,286,012 IPT Impact Minerals -9% 129% 0.016 $49,782,318 MXR Maximus Resources -9% -20% 0.032 $11,166,952 WCN White Cliff Min Ltd -9% -29% 0.01 $13,506,371 AOA Ausmon Resorces -10% -36% 0.0045 $4,846,447 DTM Dart Mining NL -11% -38% 0.034 $6,546,915 RLC Reedy Lagoon Corp. -11% -20% 0.008 $5,100,476 FG1 Flynngold -11% -45% 0.055 $8,425,536 SRZ Stellar Resources -13% 0% 0.013 $15,089,464
Who else has news out?
Recharge has started exploration targeting designed to delineate outcropping pegmatites and potential pegmatite-bearing structures at its Wapistan lithium project in Quebec’s James Bay region.
The program will compile available data such as high-resolution satellite imagery and open file geophysical data to integrate with the historical datasets to enable compilation and ranking of targets at the project, which is located just 10km east of Q2 Metal’s Mia project and Ophir Gold’s Radis project.
Recent exploration at these third party projects have confirmed the presence of spodumene-hosted lithium mineralisation – including grab sampling returning assays averaging 2.65% Li2O at Mia – in the Yasinski Greenstone Belt, which also runs through Wapistan.
Targets generated by the program will be tested by in the company’s upcoming field work campaign.
The company has discovered a highly prospective ‘corridor of interest’ following a recent reassessment of project data at the Uis project in Namibia.
Undrilled LCT pegmatites with visible lithium mineralisation have been observed in the field and planning is now underway to focus exploration efforts on the new area.
“Going forward, we will embark on a more traditional and systematic exploration strategy focused on this zone, which will allow us to generate high confidence targets which we will aim to drill test and fast track,” chief exploration and project manager (Africa), Cliff Fitzhenry said.
“The company looks forward to updating our shareholders as we continue our exploration activities, which will give us the best possible chance of unlocking the lithium potential of the Uis lithium project.”
Lithium Plus Minerals (ASX:LPM)
LPM has flagged high-grade mineralised pegmatite extensions at the Bynoe project after receiving assays from Phase 3 diamond drilling at the Lei prospect.
Notable intersections include 40m at 1.64% Li2O from 445.0m, and 39m at 1.39% Li2O from 552.0m.
“These assay results significantly extend the primary Lei pegmatite a further 200m at depth, with consistent, high-grade spodumene mineralisation confirmed throughout,” executive chairman Dr Bin Guo said.
“Given these strong results, we have commenced planning for resource definition drilling at the Lei prospect and remain confident in the strong potential to delineate a maiden high-grade lithium resource during 2023.”
Drilling has intersected a zone of 600 metres of lithium-in-brine at the Rincon salar, at the company’s Salta project, in Argentina.
This is the first time that an aquifer depth of 600m has been reached in the Rincon salar as a whole (basement not reached).
A total of 25 packer tests were taken with all successful in providing a brine sample with grades up to 343mg/L lithium returned.
The company says the thickness and depth of the current hole confirm the major JORC mineral resource expansion potential at Rincon, with the results to feed into a Preliminary Economic Assessment (PEA) which is currently underway for the project.
At Stockhead we tell it like it is. While Recharge Metals is a Stockhead advertisers, it did not sponsor this article.
