Lithium spot prices look to have turned a corner after five months in the doldrums. Pic: Getty Images.
Eye on Lithium: Plenty of fish swimming in James Bay as lithium spot prices rise 3%
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- The future looks brighter as lithium prices rise 3% over the last two weeks
- There’s been a flurry of activity by ASX-listed miners in Canada’s James Bay lithium precinct
- A greener day for lithium stocks
All your lithium news, Thursday May 18
There’s been a 3% improvement in the Benchmark Mineral Intelligence (BMI) lithium price index in the last fortnight, as midstream buyers in China resume purchasing in anticipation of demand growth in the near term.
North American and European prices continued their fall, closing premium to prices in the Chinese domestic market.
China, Australia’s biggest purchase of everything lithium, is buying up technical-grade LCE 13% higher than a week ago as buyer sentiment continues to improve.
Meanwhile, spodumene contract prices tumbled in a lagged response to a low lithium chemicals price environment during Q1 2023.
In exploration activity, the rods are out in James Bay today as a plethora of ASX-listed explorers announced movements in the region, from acquisitions to capital raises to drilling results.
We’ve got a feeling that Allkem’s own James Bay deposit and its multi-billion dollar merger might have something to do with it, as the rumour that there’s a “whole lotta lithium” in the region seems to have spread far and wide. Read below for more details on who’s doing what.
Here’s how ASX lithium stocks are tracking:
| Code | Company | Price | % Today | Market Cap |
|---|---|---|---|---|
| FIN | FIN Resources Ltd | 0.018 | 29% | $8,659,495 |
| LSR | Lodestar Minerals | 0.005 | 25% | $7,373,589 |
| G88 | Golden Mile Res Ltd | 0.022 | 22% | $4,741,780 |
| WC8 | Wildcat Resources | 0.058 | 18% | $32,439,114 |
| QPM | Queensland Pacific | 0.135 | 17% | $200,830,011 |
| KGD | Kula Gold Limited | 0.014 | 17% | $4,478,543 |
| RMX | Red Mount Min Ltd | 0.004 | 14% | $7,951,479 |
| ZNC | Zenith Minerals Ltd | 0.165 | 14% | $50,997,376 |
| 1MC | Morella Corporation | 0.009 | 13% | $48,788,644 |
| BYH | Bryah Resources Ltd | 0.018 | 13% | $4,500,056 |
| XTC | Xantippe Res Ltd | 0.0045 | 13% | $42,320,399 |
| CY5 | Cygnus Metals Ltd | 0.255 | 11% | $48,282,569 |
| DRE | Dreadnought Resources Ltd | 0.058 | 9% | $175,574,596 |
| WR1 | Winsome Resources | 1.9 | 9% | $282,244,560 |
| WML | Woomera Mining Ltd | 0.015 | 7% | $13,386,257 |
| AZI | Altamin Limited | 0.075 | 7% | $27,420,173 |
| MRR | Minrex Resources Ltd | 0.015 | 7% | $15,188,145 |
| MQR | Marquee Resource Ltd | 0.03 | 7% | $9,161,810 |
| GSM | Golden State Mining | 0.032 | 7% | $3,510,426 |
| PNN | Power Minerals Ltd | 0.56 | 7% | $37,975,499 |
| BUR | Burleyminerals | 0.245 | 7% | $14,125,301 |
| AS2 | Askarimetalslimited | 0.33 | 6% | $20,888,839 |
| EMC | Everest Metals Corp | 0.089 | 6% | $10,872,381 |
| EMC | Everest Metals Corp | 0.089 | 6% | $10,872,381 |
| YAR | Yari Minerals Ltd | 0.02 | 5% | $9,164,798 |
| EMH | European Metals Hldg | 0.625 | 5% | $74,942,607 |
| MIN | Mineral Resources. | 75.8 | 5% | $13,989,192,474 |
| ASN | Anson Resources Ltd | 0.21 | 5% | $244,275,541 |
| KAI | Kairos Minerals Ltd | 0.021 | 5% | $39,281,870 |
| PAT | Patriot Lithium | 0.245 | 4% | $14,308,563 |
| INR | Ioneer Ltd | 0.37 | 4% | $744,910,085 |
| LPI | Lithium Pwr Int Ltd | 0.37 | 4% | $223,329,634 |
| KTA | Krakatoa Resources | 0.027 | 4% | $9,447,791 |
| KZR | Kalamazoo Resources | 0.14 | 4% | $20,574,857 |
| MTM | MTM Critical Metals | 0.14 | 4% | $11,928,270 |
| STM | Sunstone Metals Ltd | 0.029 | 4% | $73,372,500 |
| SYA | Sayona Mining Ltd | 0.2225 | 3% | $1,956,231,924 |
| LNR | Lanthanein Resources | 0.0155 | 3% | $16,823,634 |
| CHR | Charger Metals | 0.645 | 3% | $27,321,480 |
| PLL | Piedmont Lithium Inc | 0.87 | 3% | $365,698,255 |
| PLS | Pilbara Min Ltd | 4.88 | 3% | $14,211,383,614 |
| SGQ | St George Min Ltd | 0.039 | 3% | $31,939,401 |
| EUR | European Lithium Ltd | 0.1025 | 3% | $148,923,918 |
| AKE | Allkem Limited | 15.195 | 2% | $9,456,469,415 |
| ZEO | Zeotech Limited | 0.043 | 2% | $68,909,638 |
| INF | Infinity Lithium | 0.11 | 2% | $49,728,650 |
| LLL | Leolithiumlimited | 0.68 | 2% | $656,126,846 |
| GW1 | Greenwing Resources | 0.25 | 2% | $36,727,895 |
| AGY | Argosy Minerals Ltd | 0.51 | 2% | $702,203,749 |
| RIO | Rio Tinto Limited | 110.36 | 2% | $40,250,974,084 |
| SCN | Scorpion Minerals | 0.072 | 1% | $24,545,140 |
| TKM | Trek Metals Ltd | 0.075 | 1% | $26,931,936 |
| IGO | IGO Limited | 14.87 | 1% | $11,116,691,495 |
| CRR | Critical Resources | 0.0455 | 1% | $71,763,969 |
| LTR | Liontown Resources | 2.81 | 1% | $6,117,335,679 |
| GL1 | Globallith | 1.6 | 1% | $410,596,680 |
| JRL | Jindalee Resources | 2.17 | 0% | $123,938,567 |
| WES | Wesfarmers Limited | 51.2 | 0% | $57,833,613,879 |
| ADV | Ardiden Ltd | 0.007 | 0% | $18,818,347 |
| AML | Aeon Metals Ltd. | 0.018 | 0% | $19,735,211 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| ESS | Essential Metals Ltd | 0.495 | 0% | $132,445,514 |
| GLN | Galan Lithium Ltd | 1.2 | 0% | $368,298,486 |
| LIT | Lithium Australia | 0.036 | 0% | $43,962,900 |
| RLC | Reedy Lagoon Corp. | 0.006 | 0% | $3,400,318 |
| TKL | Traka Resources | 0.006 | 0% | $5,227,976 |
| BMM | Balkanminingandmin | 0.225 | 0% | $10,748,703 |
| LEL | Lithenergy | 1 | 0% | $60,150,000 |
| ARN | Aldoro Resources | 0.13 | 0% | $17,475,087 |
| AAJ | Aruma Resources Ltd | 0.075 | 0% | $11,772,113 |
| PAM | Pan Asia Metals | 0.24 | 0% | $37,263,913 |
| FG1 | Flynngold | 0.079 | 0% | $8,127,009 |
| MMC | Mitremining | 0.27 | 0% | $10,323,477 |
| RAG | Ragnar Metals Ltd | 0.017 | 0% | $6,446,143 |
| CTN | Catalina Resources | 0.004 | 0% | $4,953,948 |
| TMB | Tambourahmetals | 0.098 | 0% | $4,036,875 |
| TEM | Tempest Minerals | 0.016 | 0% | $8,109,146 |
| WCN | White Cliff Min Ltd | 0.008 | 0% | $7,672,435 |
| AZL | Arizona Lithium Ltd | 0.048 | 0% | $129,166,354 |
| ENT | Enterprise Metals | 0.007 | 0% | $4,935,565 |
| GT1 | Greentechnology | 0.65 | 0% | $123,979,955 |
| CAI | Calidus Resources | 0.18 | 0% | $98,886,207 |
| A8G | Australasian Metals | 0.14 | 0% | $7,296,869 |
| EFE | Eastern Resources | 0.011 | 0% | $13,661,411 |
| SRZ | Stellar Resources | 0.011 | 0% | $11,050,940 |
| NWM | Norwest Minerals | 0.03 | 0% | $7,421,136 |
| AOA | Ausmon Resorces | 0.004 | 0% | $3,877,157 |
| VKA | Viking Mines Ltd | 0.009 | 0% | $9,227,326 |
| IPT | Impact Minerals | 0.013 | 0% | $36,981,151 |
| SRI | Sipa Resources Ltd | 0.021 | 0% | $4,791,321 |
| VMC | Venus Metals Cor Ltd | 0.185 | 0% | $33,527,306 |
| RGL | Riversgold | 0.017 | 0% | $16,072,951 |
| RAS | Ragusa Minerals Ltd | 0.087 | 0% | $12,406,094 |
| EPM | Eclipse Metals | 0.015 | 0% | $30,420,897 |
| EVR | Ev Resources Ltd | 0.017 | 0% | $15,911,729 |
| MNS | Magnis Energy Tech | 0.19 | 0% | $204,312,982 |
| MXR | Maximus Resources | 0.04 | 0% | $12,762,231 |
| MM1 | Midasmineralsltd | 0.155 | 0% | $8,855,423 |
| M2R | Miramar | 0.043 | 0% | $3,456,415 |
| LLI | Loyal Lithium Ltd | 0.32 | 0% | $19,036,800 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| AUN | Aurumin | 0.029 | 0% | $5,734,988 |
| ALY | Alchemy Resource Ltd | 0.018 | 0% | $21,205,373 |
| LIS | Lisenergylimited | 0.305 | 0% | $50,603,827 |
| TYX | Tyranna Res Ltd | 0.024 | 0% | $57,754,208 |
| DAF | Discovery Alaska Ltd | 0.041 | 0% | $9,603,623 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| TUL | Tulla Resources | 0.345 | 0% | $111,022,381 |
| A11 | Atlantic Lithium | 0.61 | 0% | $371,637,413 |
| CMD | Cassius Mining Ltd | 0.02 | 0% | $8,169,858 |
| VSR | Voltaic Strategic | 0.052 | 0% | $15,979,611 |
| PL3 | Patagonia Lithium | 0.205 | 0% | $10,045,718 |
| ENT | Enterprise Metals | 0.007 | 0% | $4,935,565 |
| DTM | Dart Mining NL | 0.054 | 0% | $9,303,510 |
| LPM | Lithium Plus | 0.33 | 0% | $16,793,106 |
| KOB | Kobaresourceslimited | 0.18 | 0% | $18,975,000 |
| NMT | Neometals Ltd | 0.6125 | 0% | $339,935,823 |
| CXO | Core Lithium | 1.0875 | -1% | $2,044,368,473 |
| EG1 | Evergreenlithium | 0.425 | -1% | $24,178,900 |
| PGD | Peregrine Gold | 0.345 | -1% | $19,635,914 |
| BNR | Bulletin Res Ltd | 0.069 | -1% | $20,551,377 |
| NVA | Nova Minerals Ltd | 0.34 | -1% | $72,756,973 |
| VUL | Vulcan Energy | 4.22 | -2% | $707,143,441 |
| LLO | Lion One Metals Ltd | 0.855 | -2% | $10,545,235 |
| LKE | Lake Resources | 0.6325 | -2% | $917,476,836 |
| MLS | Metals Australia | 0.04 | -2% | $24,888,484 |
| FTL | Firetail Resources | 0.08 | -2% | $6,314,000 |
| MAN | Mandrake Res Ltd | 0.038 | -3% | $23,351,637 |
| DLI | Delta Lithium | 0.565 | -3% | $258,689,178 |
| NIS | Nickelsearch | 0.06 | -3% | $3,751,336 |
| PSC | Prospect Res Ltd | 0.14 | -3% | $67,027,622 |
| LRS | Latin Resources Ltd | 0.1825 | -4% | $482,756,101 |
| LRD | Lordresourceslimited | 0.12 | -4% | $4,641,515 |
| LRD | Lordresourceslimited | 0.12 | -4% | $4,641,515 |
| FBM | Future Battery | 0.115 | -4% | $51,341,416 |
| LM1 | Leeuwin Metals Ltd | 0.31 | -5% | $13,333,123 |
| OCN | Oceanalithiumlimited | 0.305 | -5% | $12,536,480 |
| AX8 | Accelerate Resources | 0.02 | -5% | $7,929,637 |
| DAL | Dalaroometalsltd | 0.058 | -5% | $1,822,375 |
| FRS | Forrestaniaresources | 0.075 | -5% | $4,810,413 |
| QXR | Qx Resources Limited | 0.037 | -5% | $34,977,631 |
| LPD | Lepidico Ltd | 0.009 | -5% | $72,558,831 |
| EMS | Eastern Metals | 0.047 | -6% | $1,953,221 |
| LRV | Larvottoresources | 0.185 | -8% | $13,450,944 |
| TON | Triton Min Ltd | 0.032 | -9% | $54,647,446 |
| AM7 | Arcadia Minerals | 0.18 | -10% | $9,339,578 |
| IMI | Infinitymining | 0.135 | -10% | $11,471,748 |
| THR | Thor Energy PLC | 0.0045 | -10% | $7,368,064 |
| AVW | Avira Resources Ltd | 0.003 | -14% | $7,468,265 |
A brighter day for lithium today, with 57 companies showing green, 61 staying flat and only 32 dropping in price.
WHO’S GOT NEWS OUT?
Intra Energy (ASX:IEC) surprised the market today with its acquisition of the Llama lithium project in the James Bay lithium precinct in Quebec, Canada.
IEC purchased Llama from Canadian vendor DG Resource Management, a bunch of geo’s with a strong track record of identifying projects in the region.
One of its successes includes the vending of the Corvette lithium project to Patriot Battery Metals (ASX:PMT).
The company will pay just over $1 million in cash and issue 195,000,000 shares worth about $9.75m at yesterday’s close of 5c per share for the project, packed with further options and performance rights.
James Bay has seen a hotbed of activity from ASX miners lately, with Winsome Resources (ASX: WR1) notably busy on the drilling front just 40km away.
The Llama project comprises of 123 mineral claims across 63km2.
“The acquisition of Llama provides IEC with a significant footprint in the James Bay Lithium District,” IEC boss Benjamin Dunn said.
“With negligible historic exploration for spodumene pegmatites, Llama is situated in a favourable geologic setting with very good potential.
“We are excited for our first pass exploration program during the coming summer field season, which will see both target generation and helicopter-supported ground follow-up.”
Simultaneously, IEC has gone to market for $3.6m to fund immediate exploration work at Llama.
Fin Resources (ASX:FIN) also has news out of James Bay, identifying outcropping lithium targets at Cancet West, part of its Mont Tremblant lithium project package.
The company has now staked an additional 10 claims for a total of 510 hectares from data compiled by imagery analysis guru Dr Neil Pendock.
Compilation of historical exploration data is now underway, with detailed field mapping, outcrop sampling and geochemical sampling expected to be completed during the upcoming Canadian summer field season.
Recharge Metals (ASX:REC) is another explorer making headway into the region, notably at its Express lithium project – just 12km southeast of Allkem’s James Bay deposit.
Interpretation of spectral data identified a substantial number of potential pegmatite occurrences, outlining three significant targets within the project area.
All target areas will be evaluated on the ground during REC’s planned maiden field program in July.
Moving to South America, Latin Resources (ASX:LRS) has finished drilling at its Colina lithium deposit in Brazil in time for its expected June resource update.
133 drill holes across 38.3km has notably shown 13.79m @ 1.52% Li2O from 293.28m, 10.77m@ 1.39% Li2O from 210.81m, and 12.35m @ 1.42% Li2O from 235.47m.
“The continued expansion of this lithium pegmatite deposit is phenomenal and has the whole team very excited to potentially see this develop into a tier one lithium deposit in the Minas Gerais Lithium Valley,” LRS Americas VP Tony Greenaway said.
“We will now move some rigs to start testing to expand the deposit through systematic step-out to the southwest from the known Colina mineralisation or what our team call the Colina Corridor, where our deposit remains open.”
LRS said it will now move to collect all the necessary metallurgical samples for definitive feasibility studies at the project.
At Stockhead we tell it like it is. While Latin Resources is a Stockhead advertiser, they did not sponsor this article.
