• Slumping “spot” lithium prices appear to be no deterrent for Allkem and Livent’s potential lithium deal of the year
  • And maybe, just maybe we’re near the bottom of the market for the leading battery metal commodity?
  • Asra Minerals, Infinity Lithium, Ronin Resources and Riversgold among the ASX’s bigger gainers today

All your lithium news, Monday November 13.

 

It was all about lithium on the ASX earlier in the day, at least in terms of resources gainers – with Infinity Lithium, Ronin Resources, TG Metals and others all pegging their share prices firmly in the right direction.

Did local pegmatite pokers continue to fare well into the arvo today? Some certainly did, some certainly didn’t. We’ll tabulate that full answer for you below.

But first, let’s cover off a few things of note regarding some of the bigger players in town in this sector. Because there’s been plenty of movement at a few significant stations just lately, particularly regarding mergers and acquisitions.

 

What’s doing in major M&A lithium action?

Allkem and Livent

Headlining potential blockbuster mergers just lately is $5.64bn market-capped Aussie-based lithium producer Allkem (ASX:AKE), as it furthers a plan to get a potential king-making deal over the line with American lithium-production titan Livent.

The companies are looking to combine in a union that would create the world’s third biggest player by lithium volumes (as Stockhead’s Josh Chiat notes, “once all their myriad growth options are brought to market by later this decade”).

It would put the merger, to be called Arcadium Lithium, behind Albemarle and SQM, and ahead of China’s ­Ganfeng.

If successful, the merger would see Allkem’s ASX and TSX shares delisted by January 5, a day after the new company’s shares begin trading on the New York Stock Exchange. Its CDIs will be traded on the ASX.

Per a report in The Australian, slumping lithium commodity prices this year are no deterrent for the two companies. In fact, the volatile lithium prices reportedly only strengthen the case for the merger.

“This is not a deal about the lithium price,” said Livent chief exec Paul Graves on a tour to sweet talk Aussie investors, adding: “Sometimes you need a little bit of historical context. We see some of the prices being thrown around – I think one of the research analysts recently came out and said they see pricing falling to marginal cost, which is US$15 a kilo in their calculation.

“Livent has been in the market for a long, long time. We’ve never managed to average US$15 a kilo up until the last year or two. That’s a historically high ­number.”

Allkem shareholders meet on December 19 in Perth to vote on the merger. On Friday, as Josh reported, Allkem and the merger got the vote of confidence from an independent expert report from Kroll Australia, which said the deal was ‘fair’ and in the best interests of Allkem shareholders, in the absence of a superior proposal.

Wrote Josh:

“They value Allkem at an equity value of between $12.76-15.41, well above the $9.22 trading value of the stock today, and placed the combined equity value of the group at between $9.79 and $11.43 billion.

That’s well below the roughly $16b value trumpeted when it was originally announced roughly six months ago, but also comes after Allkem and Livent shares tumbled 26.1% and 38.2% lower over the period as lithium prices have dropped significantly.

Allkem shareholders will emerge with 56.1% of the merged entity once the deal is done, while Livent – spawned from within lithium battery pioneer FMC Lithium – will hold 43.9%.”

Graves also reportedly pointed to the recent billionaire interest in WA’s lithium hotspots as testament to the lithium sector remaining in good health.

Hot stock Azure Minerals (ASX:AZS) , for instance, continues to retain great interest with Mineral Resources’ Chris Ellison and Gina Rinehart’s Hancock Prospecting having built up significant stakes in the company, amid lithium giant SQM’s $1.63b takeover bid for AZS.

Then, of course, we’ve had the Gina Rinehart block of Albemarle’s attempted Liontown Resources (ASX:LTR) takeover, with Hancock Prospecting coming in hot for LTR, reaching Rinehart’s ownership objective of at least 19.9% of the company.

Meanwhile, Ellison’s MinRes now owns a fifth of Wildcat Resources (ASX:WC8) increasing its stake as the Pilbara-focused explorer keeps hitting good results at its Tabba Tabba project near Port Hedland.

Annnd… last but not least in this section – news just in today, Delta Lithium (ASX:DLI) had something of a highly significant raise today.

Per our Monsters of Rock column, which has more details:

Early doors Gina Rinehart and Ellison took tentative steps into the land grab by taking up stakes in Delta Lithium (ASX:DLI), owner of the ~15Mt Mt Ida deposit near Menzies in WA’s Goldfields and the frontier Yinnetharra project in WA’s untapped Gascoyne region along its Mid-West coast.

 

Meanwhile, re lithium price slumping… brighter days ahead?

Lithium prices are yet to arrest their slump, as you can see from this…

That said, have they merely just corrected back to a “more reasonable level” and are we somewhere near the bottoming out, per this analytical take?

 

ASX lithium form guide:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at about 3pm.) 

Stocks missing from this list?

Email [email protected] 

CODE COMPANY PRICE DAILY RTN % 1 WEEK % 1 MTH % YTD % MARKET CAP
ADV Ardiden Ltd 0.005 0% -9% -17% 0% $13,441,677
AGY Argosy Minerals Ltd 0.145 -9% -15% -17% -43% $224,705,200
1MC Morella Corporation 0.0065 -7% 18% 18% -1% $43,145,149
AML Aeon Metals Ltd. 0.008 -11% -27% -47% -2% $9,867,606
ASN Anson Resources Ltd 0.17 6% -8% 21% -2% $205,718,267
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 0% $2,752,409,203
CXO Core Lithium 0.3675 1% -5% 1% -66% $779,981,474
EMH European Metals Hldg 0.63 1% -4% 1% -1% $79,296,075
ESS Essential Metals Ltd 0.5 0% 0% 4% 18% $135,278,382
EUR European Lithium Ltd 0.077 7% 3% 8% 0% $100,385,221
GLN Galan Lithium Ltd 0.57 -3% -12% -10% -50% $206,635,034
INF Infinity Lithium 0.1175 38% 38% 35% 0% $39,320,328
INR Ioneer Ltd 0.145 -9% -17% -28% -24% $337,764,212
JRL Jindalee Resources 1.0775 0% -13% -31% -81% $64,838,751
LIT Lithium Australia 0.033 0% 6% 0% -1% $40,332,325
LKE Lake Resources 0.1675 -1% 2% -9% -63% $241,815,600
LPD Lepidico Ltd 0.009 -10% 0% -18% -1% $76,383,079
LPI Lithium Pwr Int Ltd 0.535 2% 2% 57% 10% $333,912,320
LTR Liontown Resources 1.48 -1% -11% -51% 16% $3,609,613,215
MIN Mineral Resources. 57.67 -1% -6% -5% -1953% $11,389,128,074
MLS Metals Australia 0.036 -3% -5% 13% -1% $23,089,339
AKE Allkem Limited 8.72 -3% -9% -22% -252% $5,753,891,637
PLL Piedmont Lithium Inc 0.4 -5% -12% -26% -25% $154,407,456
PLS Pilbara Min Ltd 3.45 -2% -8% -13% -30% $10,563,213,937
QPM Queensland Pacific 0.053 -4% -12% -18% -6% $110,687,655
PSC Prospect Res Ltd 0.098 2% 8% 29% -2% $44,376,908
RLC Reedy Lagoon Corp. 0.005 0% 25% -17% 0% $3,083,418
SYA Sayona Mining Ltd 0.0785 -3% -8% -14% -11% $833,756,977
TKL Traka Resources 0.0045 13% -10% -10% 0% $3,501,317
TON Triton Min Ltd 0.024 -4% -17% 14% -1% $39,033,990
VUL Vulcan Energy 2.37 -2% 1% -13% -396% $405,688,075
GL1 Globallith 1.19 -3% -9% -1% -66% $319,723,985
BMM Balkanminingandmin 0.13 -7% 8% -28% -20% $9,633,004
LEL Lithenergy 0.59 -2% -16% 4% -18% $61,806,000
ARN Aldoro Resources 0.083 0% -12% -17% -8% $11,173,771
NMT Neometals Ltd 0.25 0% 2% -30% -55% $138,326,984
IGO IGO Limited 8.835 -2% -9% -23% -463% $6,792,692,283
AAJ Aruma Resources Ltd 0.032 -6% 0% 0% -2% $6,694,311
PAM Pan Asia Metals 0.15 0% 0% -27% -26% $25,053,215
AX8 Accelerate Resources 0.051 4% 38% 65% 3% $23,128,108
AM7 Arcadia Minerals 0.089 0% 5% -15% -12% $9,705,459
AS2 Askarimetalslimited 0.18 3% 3% 0% -26% $13,483,787
BYH Bryah Resources Ltd 0.02 -5% 54% 54% -1% $7,530,711
EMS Eastern Metals 0.028 0% -7% -10% -5% $2,307,935
FG1 Flynngold 0.085 -4% 27% 25% -2% $12,138,050
FRS Forrestaniaresources 0.03 0% -3% -14% -11% $3,069,048
GSM Golden State Mining 0.019 -24% -5% -49% -2% $4,777,207
IMI Infinitymining 0.12 0% 4% -20% -16% $9,343,166
LRV Larvottoresources 0.115 5% -23% -8% -5% $7,398,019
MMC Mitremining 0.225 7% 0% -15% -6% $9,523,521
RAG Ragnar Metals Ltd 0.024 4% 4% 0% 1% $10,901,562
CTN Catalina Resources 0.0035 0% -13% -13% -1% $4,334,704
TMB Tambourahmetals 0.14 -10% 4% -7% 4% $12,855,755
TEM Tempest Minerals 0.011 10% 38% 38% -1% $5,113,835
EMC Everest Metals Corp 0.094 4% -1% -25% 2% $11,995,480
WCN White Cliff Min Ltd 0.011 -4% 10% -8% 0% $14,455,713
WML Woomera Mining Ltd 0.026 4% 117% 160% 1% $29,842,364
AZL Arizona Lithium Ltd 0.041 14% 128% 173% -2% $119,476,297
CRR Critical Resources 0.031 -9% 19% -11% -1% $60,446,909
KGD Kula Gold Limited 0.014 0% 12% 17% -1% $5,224,967
LRS Latin Resources Ltd 0.23 -4% -15% -19% 13% $665,401,488
PNN Power Minerals Ltd 0.245 -2% -9% 0% -29% $21,541,545
WR1 Winsome Resources 1.235 -1% -13% 7% 1% $221,105,830
KZR Kalamazoo Resources 0.125 14% 28% 32% -9% $18,850,642
MTM MTM Critical Metals 0.023 0% -4% -36% -6% $2,284,753
QXR Qx Resources Limited 0.03 7% 30% 20% -1% $30,960,380
SCN Scorpion Minerals 0.056 0% 10% -10% -1% $19,415,547
AZI Altamin Limited 0.059 -3% -5% -2% -2% $23,894,722
ENT Enterprise Metals 0.004 0% 33% 0% -1% $3,197,884
KAI Kairos Minerals Ltd 0.016 0% -6% -27% 0% $41,934,595
STM Sunstone Metals Ltd 0.016 -11% -6% 0% -2% $55,475,728
PGD Peregrine Gold 0.325 8% 8% 12% -6% $16,883,471
AVW Avira Resources Ltd 0.002 0% 100% 33% 0% $4,267,580
NVA Nova Minerals Ltd 0.25 -7% -4% 2% -43% $56,940,289
GT1 Greentechnology 0.39 -5% -7% -14% -44% $87,320,784
BNR Bulletin Res Ltd 0.155 -3% -6% 41% 6% $46,974,576
CAI Calidus Resources 0.17 0% -13% 13% -10% $103,740,291
MRR Minrex Resources Ltd 0.0155 3% 19% -3% -2% $16,273,013
A8G Australasian Metals 0.175 -3% 3% -15% -2% $9,381,689
EFE Eastern Resources 0.012 0% 50% 33% -2% $14,903,358
MQR Marquee Resource Ltd 0.033 3% 32% 22% 0% $13,228,300
SRZ Stellar Resources 0.009 0% 13% -18% 0% $9,883,678
LSR Lodestar Minerals 0.004 -11% -20% -20% 0% $9,105,288
NWM Norwest Minerals 0.0325 -2% 7% 25% -2% $9,489,794
AOA Ausmon Resorces 0.003 0% 0% 0% 0% $3,020,998
VKA Viking Mines Ltd 0.01 0% 0% -5% 0% $10,252,584
IPT Impact Minerals 0.013 0% 18% 18% 1% $37,241,151
SRI Sipa Resources Ltd 0.021 0% 5% 11% -1% $4,791,321
VMC Venus Metals Cor Ltd 0.1 -5% -9% -20% 2% $19,921,512
RGL Riversgold 0.011 22% 22% -21% -2% $8,561,353
ZNC Zenith Minerals Ltd 0.185 12% 85% 85% -8% $58,142,846
RAS Ragusa Minerals Ltd 0.049 0% 17% 23% -7% $6,987,341
G88 Golden Mile Res Ltd 0.025 -4% 19% 25% 0% $8,564,127
EPM Eclipse Metals 0.0105 5% 5% -13% -1% $20,438,042
EVR Ev Resources Ltd 0.012 20% 9% 9% 0% $9,447,798
WC8 Wildcat Resources 0.8025 0% -4% 98% 78% $832,679,604
MNS Magnis Energy Tech 0.047 -4% -41% -36% -32% $58,775,409
RIO Rio Tinto Limited 120.38 0% -2% 7% 397% $44,701,856,490
THR Thor Energy PLC 0.024 -4% -11% -14% -4% $4,662,307
YAR Yari Minerals Ltd 0.016 0% -6% 7% 0% $7,717,725
MXR Maximus Resources 0.044 0% 10% 57% 0% $14,106,654
DRE Dreadnought Resources Ltd 0.0345 -1% 1% -23% -7% $120,993,086
MM1 Midasmineralsltd 0.155 -3% 0% -14% -5% $13,879,559
M2R Miramar 0.022 0% 16% -52% -5% $3,275,130
LLI Loyal Lithium Ltd 0.435 5% -8% -23% 14% $33,789,764
LRD Lordresourceslimited 0.069 0% 0% 1% -10% $2,562,116
WMC Wiluna Mining Corp 0.205 0% 0% 0% 0% $74,238,031
AUN Aurumin 0.024 4% -4% -17% -4% $7,324,191
ZEO Zeotech Limited 0.043 -17% -17% -14% 0% $89,877,999
ALY Alchemy Resource Ltd 0.011 0% 0% 10% -1% $12,958,839
LIS Lisenergylimited 0.22 5% 0% -8% -10% $134,442,048
GW1 Greenwing Resources 0.15 11% 15% 11% -13% $23,523,950
KTA Krakatoa Resources 0.038 12% 41% 90% -1% $14,786,529
TYX Tyranna Res Ltd 0.0165 3% -13% -3% -1% $52,582,805
DAF Discovery Alaska Ltd 0.017 -6% 13% -19% -2% $4,216,225
FTL Firetail Resources 0.099 0% -6% -1% -6% $14,741,650
IR1 Irismetals 1.4 -9% -12% -14% 24% $187,009,872
LNR Lanthanein Resources 0.007 0% 8% -13% -1% $7,851,029
DAL Dalaroometalsltd 0.036 0% 20% -31% -6% $2,937,600
TKM Trek Metals Ltd 0.051 4% 0% 59% -3% $24,384,364
CY5 Cygnus Metals Ltd 0.155 0% -6% 3% -23% $44,956,609
TUL Tulla Resources 0 0% -100% -100% -33% $118,262,971
WES Wesfarmers Limited 52.97 0% 1% 2% 706% $60,192,318,131
LLL Leolithiumlimited 0.505 0% 0% 0% 2% $498,553,663
OCN Oceanalithiumlimited 0.125 4% 9% -26% -22% $6,369,180
A11 Atlantic Lithium 0.39 -3% -9% -20% -23% $244,896,664
CMD Cassius Mining Ltd 0.031 0% -11% -3% 1% $15,398,574
VSR Voltaic Strategic 0.02 0% -5% -13% 0% $9,662,078
SGQ St George Min Ltd 0.039 3% -13% 5% -3% $35,865,849
LLO Lion One Metals Ltd 1 1% 2% -9% -17% $14,541,952
PAT Patriot Lithium 0.2 -7% -5% 18% -7% $13,735,813
PL3 Patagonia Lithium 0.14 8% 17% 8% 0% $6,370,455
BUR Burleyminerals 0.215 0% -4% 54% -1% $21,778,803
CHR Charger Metals 0.35 6% 30% 192% -10% $20,497,741
RMX Red Mount Min Ltd 0.005 0% 25% 0% 0% $13,367,880
DLI Delta Lithium 0.52 0% -10% -21% 5% $277,557,604
LM1 Leeuwin Metals Ltd 0.26 -2% -4% -16% 0% $11,868,025
ENT Enterprise Metals 0.004 0% 33% 0% -1% $3,197,884
FIN FIN Resources Ltd 0.031 0% 0% 55% 1% $20,124,230
DTM Dart Mining NL 0.021 11% 17% -3% -3% $3,683,066
NIS Nickelsearch 0.084 -9% 35% 62% -7% $14,747,354
EG1 Evergreenlithium 0.185 0% -8% -26% 0% $10,402,550
MAN Mandrake Res Ltd 0.035 0% 3% -8% -1% $20,956,597
FBM Future Battery 0.084 -2% -7% -24% 3% $43,851,915
XTC Xantippe Res Ltd 0.001 0% 0% 0% 0% $17,528,005
LPM Lithium Plus 0.475 -5% -1% 7% 11% $42,994,100
KOB Kobaresourceslimited 0.082 -4% 22% -1% -6% $8,960,417
EMC Everest Metals Corp 0.094 4% -1% -25% 2% $11,995,480
LRD Lordresourceslimited 0.069 0% 0% 1% -10% $2,562,116
IEC Intra Energy Corp 0.004 0% 0% 0% 0% $6,643,126
REC Rechargemetals 0.135 0% 4% -4% 0% $15,032,516
SLM Solismineralsltd 0.205 -5% -20% -21% 13% $16,737,472
AZS Azure Minerals 4 0% 4% 90% 378% $1,832,949,476
DYM Dynamicmetalslimited 0.2 0% -2% 8% 0% $7,000,000
TOR Torque Met 0.175 -8% -8% -42% -1% $22,928,252
SBR Sabre Resources 0.037 -5% -5% 12% 0% $13,930,362
ICL Iceni Gold 0.061 3% 7% -14% -2% $14,151,571
TMX Terrain Minerals 0.004 0% -20% -20% 0% $5,413,711
MHC Manhattan Corp Ltd 0.004 0% 0% -20% 0% $11,747,919
MHK Metalhawk. 0.18 -8% 50% 105% 2% $15,360,347
NKL Nickelxltd 0.065 0% 16% 3% -2% $5,707,986
TMB Tambourahmetals 0.14 -10% 4% -7% 4% $12,855,755
ANX Anax Metals Ltd 0.029 0% -6% -17% -2% $13,946,611
PMT Patriotbatterymetals 1.0775 -1% -7% -2% 33% $426,400,986
BM8 Battery Age Minerals 0.19 -5% -12% -24% -31% $17,827,378
L1M Lightning Minerals 0.135 0% 8% 4% -3% $5,497,884
ADG Adelong Gold Limited 0.0065 8% 8% -7% 0% $3,577,934
TOR Torque Met 0.175 -8% -8% -42% -1% $22,928,252
AL8 Alderan Resource Ltd 0.0085 -35% -29% -35% 0% $8,017,030
OZM Ozaurum Resources 0.125 -14% 26% 26% 6% $23,018,750
FL1 First Lithium Ltd 0.5 14% 30% 85% 32% $30,822,733
PLN Pioneer Lithium 0.295 -2% -6% -16% 0% $8,527,500
WYX Western Yilgarn NL 0.11 0% -12% 15% -2% $5,462,325
RDN Raiden Resources Ltd 0.045 -6% 15% 105% 4% $112,121,528
PFE Panteraminerals 0.059 -4% -2% 5% -5% $6,584,962
GRE Greentechmetals 0.68 -17% 25% 119% 54% $52,790,266
OLY Olympio Metals Ltd 0.165 10% 10% 14% 2% $9,539,925
SUM Summitminerals 0.13 4% 38% 30% -2% $5,957,141
JBY James Bay Minerals 0.32 3% 3% -4% 0% $10,057,950
SCN Scorpion Minerals 0.056 0% 10% -10% -1% $19,415,547
JNO Juno 0.082 3% 3% 5% -1% $12,848,240
CC9 Chariot Corporation 0.33 8% 3% 0% 0% $22,366,128
ASR Asra Minerals 0.014 75% 100% 75% -30% $20,250,000
RON Ronin Resources 0.19 52% 46% 40% 15% $6,500,000
OBM Ora Banda Mining Ltd 0.175 3% 9% 79% 9% $289,925,628
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What’s hot, what’s not today?

Charged up 🚀

Asra Minerals (ASX:ASR) +75% (Up on exploration licence gains at Lake Johnston, WA)

Ronin Resources (ASX:RON) +52% (Up on no news)

Infinity Lithium (ASX:INF)  +41% (Up on Spanish gov funding for JV San José lithium project)

Riversgold (ASX:RGL) +22% (Up on 9 new lithium targets identified at Tambourah project in the Pilbara, WA)

 

Low on juice 📉

Alderan Resources (ASX:AL8) -38%

Golden State Mining (ASX:GSM) -24%

GreenTech Metals (ASX:GRE) -16%

 

 

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