- 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%
Reedy Lagoon (ASX:RLC) -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 |
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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 |
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Who else has news out?
Recharge Metals (ASX:REC)
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.
Askari Metals (ASX:AS2)
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.”
Power Minerals (ASX:PNN)
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.
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