Eye on Lithium: Near-term producers rise as Albemarle confirms lithium shortage for next 7-8 years
Pic: Michael Blann / Stone via Getty Images
- Global producer Albemarle says lithium supply crunch will be here til 2030
- Latin Resources kicks off feasibility studies at Brazilian project
- Enterprise Metals plans stage 2 soil sampling at Bullfinch North project
All your ASX lithium news for Tuesday, August 9.
Over the past week near term producers Core Lithium (ASX:CXO), Sayona Mining (ASX:SYA) Lake Resources (ASX:LKE), Ioneer (ASX:INR), Vulcan Energy (ASX:VUL) and Liontown (ASX:LTR) have all jumped off the back of more news that there’s just not enough lithium around.
US producer Albemarle now says the supply crunch is going to be here until 2030.
“It’s systemic for a pretty long period of time,” CEO Kent Masters told the Financial Times.
“For seven to eight years it stays pretty tight.”
Albemarle also expects to be able to increase its production and turn cash flow positive this year, off the back of continued strength in lithium pricing.
No surprise really, considering the IEA reckons we need about 60 more lithium mines by the end of the decade to meet global decarbonisation and electric vehicle goals.
Here’s how ASX lithium stocks were tracking today:
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| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| AOU | Auroch Minerals Ltd | 0.082 | 19% | 37% | 33% | $22,736,660.64 |
| ENT | Enterprise Metals | 0.013 | 30% | 13% | 30% | $6,529,806.88 |
| ARN | Aldoro Resources | 0.28 | 70% | 40% | 27% | $21,909,209.74 |
| LKE | Lake Resources | 1.36 | 89% | 64% | 27% | $1,493,966,098.95 |
| WC8 | Wildcat Resources | 0.027 | 8% | 17% | 23% | $14,195,999.99 |
| 1MC | Morella Corporation | 0.022 | 10% | 38% | 22% | $101,271,851.75 |
| RGL | Riversgold | 0.036 | 20% | 24% | 20% | $22,691,279.97 |
| XTC | Xantippe Res Ltd | 0.01 | 6% | 36% | 19% | $64,448,721.70 |
| AVW | Avira Resources Ltd | 0.004 | 17% | 17% | 17% | $6,356,370.00 |
| IPT | Impact Minerals | 0.008 | 0% | 0% | 14% | $17,369,593.89 |
| LSR | Lodestar Minerals | 0.008 | 14% | 0% | 14% | $12,169,061.44 |
| A8G | Australasian Metals | 0.295 | 37% | 20% | 13% | $10,704,328.44 |
| PAM | Pan Asia Metals | 0.47 | 16% | 31% | 13% | $30,676,900.43 |
| KGD | Kula Gold Limited | 0.028 | 1% | 5% | 13% | $5,336,097.46 |
| ADV | Ardiden Ltd | 0.009 | 29% | 13% | 13% | $21,346,682.85 |
| SHH | Shree Minerals Ltd | 0.009 | 13% | 13% | 13% | $9,907,895.14 |
| LRD | Lordresourceslimited | 0.275 | 25% | 34% | 12% | $7,787,232.15 |
| AM7 | Arcadia Minerals | 0.15 | 0% | -3% | 11% | $6,304,215.42 |
| AOA | Ausmon Resorces | 0.006 | -8% | 10% | 10% | $4,286,446.72 |
| RAG | Ragnar Metals Ltd | 0.046 | 12% | 7% | 10% | $15,925,765.34 |
| MM1 | Midasmineralsltd | 0.23 | 18% | 28% | 10% | $11,997,670.44 |
| WR1 | Winsome Resources | 0.29 | 45% | 57% | 9% | $35,805,208.41 |
| CXO | Core Lithium | 1.485 | 56% | 25% | 9% | $2,357,429,576.00 |
| KZR | Kalamazoo Resources | 0.24 | 12% | 14% | 9% | $31,942,762.28 |
| LNR | Lanthanein Resources | 0.025 | 56% | 56% | 9% | $19,269,988.11 |
| MTM | Mtmongerresources | 0.13 | 8% | 24% | 8% | $4,501,203.96 |
| SYA | Sayona Mining Ltd | 0.265 | 77% | 43% | 8% | $2,032,941,984.33 |
| IR1 | Irismetals | 0.48 | 78% | 20% | 8% | $26,533,125.00 |
| PLL | Piedmont Lithium Inc | 0.743 | 35% | 18% | 8% | $364,023,852.00 |
| CRR | Critical Resources | 0.057 | 39% | 21% | 8% | $78,864,807.67 |
| ASN | Anson Resources Ltd | 0.15 | 36% | 15% | 7% | $143,907,726.90 |
| INF | Infinity Lithium | 0.155 | 41% | 7% | 7% | $60,176,894.57 |
| TEM | Tempest Minerals | 0.047 | -6% | 18% | 7% | $22,209,711.74 |
| TKM | Trek Metals Ltd | 0.065 | 16% | 12% | 7% | $18,947,219.15 |
| LTR | Liontown Resources | 1.715 | 68% | 30% | 7% | $3,529,482,568.78 |
| SRZ | Stellar Resources | 0.017 | -6% | 6% | 6% | $13,428,842.02 |
| MNS | Magnis Energy Tech | 0.388 | 25% | 23% | 6% | $354,170,991.30 |
| AAJ | Aruma Resources Ltd | 0.072 | 11% | 16% | 6% | $10,673,382.20 |
| KTA | Krakatoa Resources | 0.055 | 4% | 12% | 6% | $17,924,915.68 |
| THR | Thor Mining PLC | 0.01 | -5% | -5% | 6% | $9,680,079.51 |
| VUL | Vulcan Energy | 8.84 | 54% | 20% | 5% | $1,205,449,881.41 |
| PNN | Power Minerals Ltd | 0.613 | 48% | 24% | 5% | $35,987,366.03 |
| INR | Ioneer Ltd | 0.71 | 54% | 25% | 4% | $1,426,731,171.68 |
| LLL | Leolithiumlimited | 0.5 | 5% | 9% | 4% | $473,595,317.76 |
| CZL | Cons Zinc Ltd | 0.025 | 25% | 25% | 4% | $9,296,587.51 |
| AGY | Argosy Minerals Ltd | 0.425 | 25% | 12% | 4% | $559,678,374.46 |
| TON | Triton Min Ltd | 0.029 | 71% | 7% | 4% | $35,245,956.96 |
| AML | Aeon Metals Ltd. | 0.029 | 0% | 4% | 4% | $30,616,061.64 |
| MXR | Maximus Resources | 0.059 | 26% | 16% | 4% | $18,120,628.78 |
| QPM | Queensland Pacific | 0.15 | 15% | 3% | 3% | $226,723,904.00 |
| ZNC | Zenith Minerals Ltd | 0.3 | 20% | -13% | 3% | $99,981,060.91 |
| ZEO | Zeotech Limited | 0.062 | 32% | -5% | 3% | $91,494,928.20 |
| TYX | Tyranna Res Ltd | 0.031 | 55% | -3% | 3% | $45,970,820.01 |
| WML | Woomera Mining Ltd | 0.016 | -14% | 3% | 3% | $10,302,495.99 |
| KAI | Kairos Minerals Ltd | 0.034 | 55% | 31% | 3% | $64,749,085.20 |
| EVR | Ev Resources Ltd | 0.035 | 9% | 21% | 3% | $31,483,458.41 |
| MIN | Mineral Resources. | 59.45 | 27% | 10% | 3% | $10,962,527,622.68 |
| CY5 | Cygnus Gold Limited | 0.2 | 25% | 0% | 3% | $28,701,136.43 |
| AS2 | Askarimetalslimited | 0.43 | 72% | 43% | 2% | $18,929,093.40 |
| GLN | Galan Lithium Ltd | 1.38 | 31% | 17% | 2% | $411,112,855.35 |
| JRL | Jindalee Resources | 2.81 | -4% | 9% | 2% | $158,365,946.16 |
| PSC | Prospect Res Ltd | 0.143 | 192% | 6% | 2% | $64,716,324.68 |
| WES | Wesfarmers Limited | 47.43 | 6% | 1% | 1% | $53,007,031,313.50 |
| GT1 | Greentechnology | 0.73 | 30% | 18% | 1% | $132,674,142.96 |
| PLS | Pilbara Min Ltd | 3.01 | 28% | 8% | 1% | $8,841,239,700.48 |
| AKE | Allkem Limited | 12.16 | 16% | 3% | 1% | $7,651,897,032.00 |
| CAI | Calidus Resources | 0.775 | 23% | 10% | 1% | $311,990,682.87 |
| AZI | Altamin Limited | 0.09 | -5% | -5% | 1% | $34,862,790.93 |
| M2R | Miramar | 0.1 | 0% | -5% | 1% | $6,354,479.64 |
| IGO | IGO Limited | 12 | 20% | 9% | 1% | $9,011,486,974.70 |
| RIO | Rio Tinto Limited | 99.91 | 3% | 1% | 0% | $36,961,998,427.98 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203.44 |
| LPD | Lepidico Ltd | 0.03 | 11% | 3% | 0% | $195,215,145.99 |
| LIS | Lisenergylimited | 0.74 | 35% | -5% | 0% | $122,776,498.38 |
| STM | Sunstone Metals Ltd | 0.047 | 2% | -4% | 0% | $122,032,981.69 |
| TUL | Tulla Resources | 0.525 | -5% | -9% | 0% | $84,113,857.80 |
| WMC | Wiluna Mining Corp | 0.205 | -7% | 0% | 0% | $74,238,030.68 |
| BNR | Bulletin Res Ltd | 0.14 | 22% | 22% | 0% | $40,962,754.00 |
| MLS | Metals Australia | 0.064 | 23% | 5% | 0% | $36,354,316.22 |
| VMC | Venus Metals Cor Ltd | 0.175 | 3% | 0% | 0% | $28,013,769.53 |
| AUN | Aurumin | 0.155 | 35% | 0% | 0% | $16,929,604.06 |
| ALY | Alchemy Resource Ltd | 0.016 | 0% | 14% | 0% | $15,249,184.91 |
| MMG | Monger Gold Ltd | 0.28 | 30% | 22% | 0% | $11,211,200.00 |
| DAF | Discovery Alaska Ltd | 0.042 | -5% | -2% | 0% | $9,417,857.32 |
| WCN | White Cliff Min Ltd | 0.013 | -13% | 8% | 0% | $8,496,843.71 |
| IMI | Infinitymining | 0.14 | 0% | 4% | 0% | $8,050,000.00 |
| TSC | Twenty Seven Co. Ltd | 0.003 | 0% | 0% | 0% | $7,982,441.72 |
| NWM | Norwest Minerals | 0.04 | 29% | -11% | 0% | $7,224,295.48 |
| VKA | Viking Mines Ltd | 0.007 | 0% | 0% | 0% | $7,176,809.02 |
| TMB | Tambourahmetals | 0.165 | 18% | -6% | 0% | $6,796,778.67 |
| BMM | Balkanminingandmin | 0.2 | 14% | 0% | 0% | $6,550,000.00 |
| EMS | Eastern Metals | 0.15 | 0% | -3% | 0% | $5,798,437.50 |
| FG1 | Flynngold | 0.087 | -33% | -11% | 0% | $5,573,311.35 |
| FRS | Forrestaniaresources | 0.165 | 10% | 6% | 0% | $5,129,240.16 |
| TKL | Traka Resources | 0.007 | 17% | 17% | 0% | $4,821,421.93 |
| DAL | Dalaroometalsltd | 0.11 | 0% | 0% | 0% | $3,286,250.00 |
| MMC | Mitremining | 0.11 | -8% | -4% | 0% | $2,979,361.00 |
| OCN | Oceanalithiumlimited | 0.535 | 49% | 19% | -1% | $18,103,500.00 |
| RAS | Ragusa Minerals Ltd | 0.096 | 17% | 32% | -1% | $12,196,407.13 |
| NMT | Neometals Ltd | 1.365 | 32% | 25% | -1% | $756,759,426.48 |
| LIT | Lithium Australia | 0.084 | 20% | 17% | -1% | $88,009,792.63 |
| MRR | Minrex Resources Ltd | 0.058 | 61% | 12% | -2% | $62,548,670.70 |
| ESS | Essential Metals Ltd | 0.525 | 38% | 14% | -2% | $131,870,772.38 |
| GSM | Golden State Mining | 0.052 | 27% | 11% | -2% | $6,170,329.91 |
| FTL | Firetail Resources | 0.25 | 6% | 4% | -2% | $15,754,537.50 |
| LRS | Latin Resources Ltd | 0.095 | 30% | 27% | -2% | $188,745,907.31 |
| RDT | Red Dirt Metals Ltd | 0.45 | 17% | 13% | -2% | $140,095,035.96 |
| SRI | Sipa Resources Ltd | 0.044 | 10% | 10% | -2% | $9,226,116.14 |
| LEL | Lithenergy | 1.065 | 42% | 8% | -2% | $49,213,500.00 |
| LPI | Lithium Pwr Int Ltd | 0.63 | 38% | 20% | -2% | $225,198,426.96 |
| DRE | Dreadnought Resources Ltd | 0.083 | 80% | 22% | -2% | $258,487,851.84 |
| QXR | Qx Resources Limited | 0.04 | 29% | 29% | -2% | $35,233,855.16 |
| GL1 | Globallith | 1.73 | 45% | 19% | -3% | $282,482,895.68 |
| SCN | Scorpion Minerals | 0.063 | -11% | -5% | -3% | $21,569,027.48 |
| EFE | Eastern Resources | 0.03 | 0% | 20% | -3% | $30,827,535.56 |
| G88 | Golden Mile Res Ltd | 0.029 | -3% | 7% | -3% | $6,111,978.42 |
| GW1 | Greenwing Resources | 0.27 | 26% | 13% | -4% | $34,509,257.72 |
| MQR | Marquee Resource Ltd | 0.081 | 13% | 14% | -4% | $26,511,876.72 |
| CHR | Charger Metals | 0.52 | 8% | -2% | -4% | $17,593,758.90 |
| LRV | Larvottoresources | 0.25 | 11% | 32% | -4% | $10,798,450.00 |
| EUR | European Lithium Ltd | 0.094 | 52% | 21% | -4% | $136,514,653.37 |
| DTM | Dart Mining NL | 0.07 | 8% | -11% | -4% | $9,873,991.68 |
| EPM | Eclipse Metals | 0.023 | 15% | 10% | -4% | $46,107,033.91 |
| EMH | European Metals Hldg | 0.79 | 14% | 18% | -5% | $99,951,283.56 |
| RLC | Reedy Lagoon Corp. | 0.016 | -20% | 14% | -6% | $9,476,257.50 |
| AZL | Arizona Lithium Ltd | 0.094 | 4% | 27% | -6% | $240,492,556.10 |
| BYH | Bryah Resources Ltd | 0.029 | -9% | -3% | -6% | $7,012,422.43 |
| RMX | Red Mount Min Ltd | 0.007 | 30% | 8% | -7% | $11,496,547.01 |
| PGD | Peregrine Gold | 0.715 | 70% | 79% | -8% | $29,863,848.30 |
| AX8 | Accelerate Resources | 0.033 | 10% | -3% | -8% | $9,736,520.36 |
| NVA | Nova Minerals Ltd | 0.765 | 3% | -13% | -13% | $158,578,010.80 |
A solid 70 stocks were in the green, 27 were flat and 34 were red.
Leading the pack is Lake Resources (ASX:LKE), which has now erased much of its recent losses caused in part by a short report and the unrelated but abrupt departure of long serving boss Steve Promnitz.
Who has news out today?
Latin has kicked off feasibility studies at its Salinas project in Brazil, with a Preliminary Economic Assessment (PEA) on the Colina prospect underway.
The PEA is being run parallel with the current diamond drilling program designed to establish a maiden JORC Mineral Resource Estimate for Colina by the end of the year.
Latin expects to fast track the project from PEA directly to Definitive Feasibility Study (DFS), which is scheduled to be completed by December 2023.
The company is also planning to build a Dense Media Separation (DMS) pilot plant to produce a representative sample of lithium concentrate product.
This lithium focused explorer is known as a project generator, meaning it partners with other (usually more cashed up) companies to help pay for exploration across its portfolio of projects – spreading the risk, and the reward.
Here’s why project generators are favoured by famous investor Rick Rule.
This company says it has completed check assaying of 54 of the Stage 1 -80# orientation soil samples from the Bullfinch North Project in Western Australia where some 23 samples have reported +50ppm lithium.
Around 13 of these samples have recorded even higher results, +60ppm lithium.
“These anomalous lithium samples are predominantly clustered over and around two parallel pegmatite intrusives, which have been identified by mapping of outcrops and interpretation of soil and vegetation trends in detailed imagery,” ENT says.
A Stage 2 detailed grid soil sampling program on east-west lines 100m apart, with sample spacing along line of 25m, is planned to kick off mid-August.
The company has intersected spodumene-bearing pegmatites totalling 28.25m at its Mavis Lake project in Canada.
A total of 53 of 59 drill holes have intersected spodumene-bearing pegmatite to date, with assays ongoing.
“To intercept a further cumulative 28.25m and 14.6m of lithium-bearing pegmatites in the following two holes from one of our largest cumulative intercepts in previously untested areas at Mavis Lake builds further confidence in our program as we work towards delineating our maiden JORC Compliant Resource,” chairman Robert Martin says.
The company has confirmed the expansion potential of new claims in in the Western Area of its Paradox lithium project in the US.
An assessment of the new ground has shown the continuation of favourable geological structures and high pressures associated with the project extend into the recently expanded area.
Anson says the Western Area is a ‘mirror image’ of the Eastern side of the project, and plans to kick off resource in the near future, with samples to be included in Paradox’s upcoming resource upgrade.
Prominent mining investor Tolga Kumova currently holds 7.5% of RGL which has just announced its second lithium acquisition in 2022, this time south of Southern Cross near Marvel Loch in Western Australia’s goldfields.
RGL has acquired eight tenements highly prospective for lithium, establishing the company as a serious player in the Australian lithium sector.
Managing director Julian Ford says the Southern Cross-Marvel Loch tenements (SX-MVL) were keenly sought after, given their strategic location in the Yilgarn Craton along the same geological trend as Covalent Lithium’s Mt Holland Lithium Project and its 189Mt at 1.5% lithium oxide (Li2O) resource.
Exploration efforts are set to kick off in the coming weeks.
LRS, ENT, CRR, ASN and RGL share prices today:
At Stockhead we tell it like it is. While Latin Resources and Anson Resources are Stockhead advertisers, they did not sponsor this article.
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