McKinsey reckons lithium refinement is cheap here in Australia.
Mining
All your lithium news, Friday, June 9.
Lithium prices in China ticked up again for the week ending June 9, with purchasing activity by cathode manufacturers increasing in efforts to meet moderately growing orders from cell makers.
While last week’s surge in prices has slightly faded, pricing across the board was still in the green, with lithium carbonate prices up another 5.5%, while lithium hydroxide was also up 4.4%.
Benchmark Intelligence contacts reported that some lithium producers are holding on to their inventories in anticipation of a further climb in prices.
And contrary to POSCO’s claim of the high cost of lithium refinement in Australia, as reported by Stockhead here just over a fortnight ago, McKinsey analysts found that Aussie lithium hydroxide plants could be the world’s lowest-cost producers over their life cycle, despite lamentations regarding construction and labour costs.
McKinsey says that if the plants were built near-to-mine with decent access to port (entirely possible), it would counteract those perceived additional costs.
While 66% of lithium exports are gauged to still be spodumene concentrate by 2030 on current refinement levels, building out local lithium hydroxide processing could reap further annual revenues from the sector worth up to an extra $9.6 billion per annum.
If Australia does decide to go further downstream with its refinement capabilities, an extra 4,000 jobs would be created as well, McKinsey wrote.
“Our modelling suggests that Australia could produce lithium hydroxide at approximately $6,600 per tonne of LCE, assuming integration with lithium mining, compared with $10,400 per tonne of LCE for China,” said the report.
Read more here on Australian companies looking at plans to build lithium hydroxide plants.
CODE COMPANY PRICE % TODAY MARKET CAP MQR Marquee Resource Ltd 0.032 45% $7,198,565 ADV Ardiden Ltd 0.0075 25% $16,130,012 PL3 Patagonia Lithium 0.21 24% $8,330,595 EPM Eclipse Metals 0.012 20% $20,280,598 TEM Tempest Minerals 0.014 17% $6,081,860 TKL Traka Resources 0.008 14% $6,099,305 IMI Infinitymining 0.12 9% $8,412,615 PSC Prospect Res Ltd 0.125 9% $53,159,838 LRS Latin Resources Ltd 0.195 8% $457,347,885 IPT Impact Minerals 0.014 8% $36,981,151 PAT Patriot Lithium 0.285 8% $16,267,688 LRV Larvottoresources 0.145 7% $9,079,387 DTM Dart Mining NL 0.045 7% $7,236,063 WCN White Cliff Min Ltd 0.008 7% $7,192,908 MNS Magnis Energy Tech 0.165 6% $172,641,141 BYH Bryah Resources Ltd 0.019 6% $6,149,240 SRI Sipa Resources Ltd 0.02 5% $4,335,005 CMD Cassius Mining Ltd 0.02 5% $7,761,365 KGD Kula Gold Limited 0.021 5% $7,464,238 QPM Queensland Pacific 0.11 5% $183,366,532 MAN Mandrake Res Ltd 0.044 5% $25,147,917 FBM Future Battery 0.12 4% $49,202,190 AUN Aurumin 0.028 4% $7,319,472 PNN Power Minerals Ltd 0.44 4% $30,742,070 NVA Nova Minerals Ltd 0.295 4% $60,103,638 CAI Calidus Resources 0.18 3% $97,602,717 NMT Neometals Ltd 0.57 3% $306,771,353 CHR Charger Metals 0.385 3% $16,392,888 VMC Venus Metals Cor Ltd 0.195 3% $34,433,450 IGO IGO Limited 14.585 3% $10,768,348,301 CY5 Cygnus Metals Ltd 0.225 2% $47,110,957 SGQ St George Min Ltd 0.05 2% $41,185,017 PGD Peregrine Gold 0.275 2% $15,147,705 TUL Tulla Resources 0.315 2% $104,747,203 EMH European Metals Hldg 0.705 1% $87,458,258 AGY Argosy Minerals Ltd 0.455 1% $631,983,374 LTR Liontown Resources 2.77 1% $6,029,316,460 MIN Mineral Resources. 69.755 1% $13,430,352,470 AKE Allkem Limited 15.465 1% $9,788,051,620 DLI Delta Lithium 0.68 1% $305,991,556 RIO Rio Tinto Limited 114.79 1% $42,318,648,396 WR1 Winsome Resources 1.535 1% $247,369,513 PLS Pilbara Min Ltd 4.74 0% $14,151,419,970 WES Wesfarmers Limited 47.585 0% $53,819,280,680 CXO Core Lithium 1.0625 0% $1,970,027,802 1MC Morella Corporation 0.0085 0% $51,837,934 AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203 EUR European Lithium Ltd 0.1 0% $148,923,918 INF Infinity Lithium 0.105 0% $48,572,170 INR Ioneer Ltd 0.335 0% $702,943,319 LPD Lepidico Ltd 0.012 0% $91,653,387 LPI Lithium Pwr Int Ltd 0.33 0% $207,648,395 MLS Metals Australia 0.035 0% $21,841,267 SYA Sayona Mining Ltd 0.18 0% $1,807,044,844 AX8 Accelerate Resources 0.023 0% $8,684,840 FG1 Flynngold 0.075 0% $7,865,515 FRS Forrestaniaresources 0.075 0% $4,566,848 MMC Mitremining 0.28 0% $10,705,828 RAG Ragnar Metals Ltd 0.019 0% $7,204,513 CTN Catalina Resources 0.003 0% $3,715,461 WML Woomera Mining Ltd 0.014 0% $13,386,257 CRR Critical Resources 0.041 0% $65,384,950 KZR Kalamazoo Resources 0.115 0% $17,676,730 SCN Scorpion Minerals 0.068 0% $23,508,021 ENT Enterprise Metals 0.004 0% $2,820,323 KAI Kairos Minerals Ltd 0.017 0% $33,389,589 STM Sunstone Metals Ltd 0.02 0% $61,639,698 EFE Eastern Resources 0.011 0% $13,661,411 SRZ Stellar Resources 0.01 0% $10,059,642 LSR Lodestar Minerals 0.004 0% $7,373,589 NWM Norwest Minerals 0.034 0% $9,439,573 AOA Ausmon Resorces 0.004 0% $3,877,157 VKA Viking Mines Ltd 0.008 0% $8,202,067 RAS Ragusa Minerals Ltd 0.075 0% $10,694,909 G88 Golden Mile Res Ltd 0.025 0% $6,991,079 EVR Ev Resources Ltd 0.015 0% $14,039,761 WC8 Wildcat Resources 0.11 0% $72,822,500 THR Thor Energy PLC 0.004 0% $5,840,051 MXR Maximus Resources 0.034 0% $10,847,896 MM1 Midasmineralsltd 0.195 0% $11,140,694 M2R Miramar 0.055 0% $4,420,996 LLI Loyal Lithium Ltd 0.32 0% $19,036,800 LRD Lordresourceslimited 0.096 0% $3,564,684 WMC Wiluna Mining Corp 0.205 0% $74,238,031 ZEO Zeotech Limited 0.062 0% $101,723,752 ALY Alchemy Resource Ltd 0.019 0% $22,383,449 DAF Discovery Alaska Ltd 0.031 0% $7,261,276 IR1 Irismetals 1.16 0% $74,506,800 LNR Lanthanein Resources 0.017 0% $19,066,785 TKM Trek Metals Ltd 0.065 0% $28,531,430 LLO Lion One Metals Ltd 0.8 0% $10,546,275 BUR Burleyminerals 0.185 0% $13,804,664 RMX Red Mount Min Ltd 0.004 0% $9,087,404 ENT Enterprise Metals 0.004 0% $2,820,323 FIN FIN Resources Ltd 0.017 0% $10,515,101 NIS Nickelsearch 0.057 0% $3,448,809 EG1 Evergreenlithium 0.35 0% $19,680,500 XTC Xantippe Res Ltd 0.003 0% $34,440,299 KOB Kobaresourceslimited 0.18 0% $18,975,000 LRD Lordresourceslimited 0.096 0% $3,564,684 IEC Intra Energy Corp 0.006 0% $4,234,690 PLL Piedmont Lithium Inc 0.93 -1% $404,648,365 VUL Vulcan Energy 3.605 -1% $607,427,143 JRL Jindalee Resources 2.01 -1% $116,479,301 ESS Essential Metals Ltd 0.44 -1% $119,067,179 ASN Anson Resources Ltd 0.1775 -1% $220,237,309 AZI Altamin Limited 0.068 -1% $27,028,456 GT1 Greentechnology 0.67 -1% $130,042,107 GLN Galan Lithium Ltd 0.955 -2% $326,807,943 BNR Bulletin Res Ltd 0.061 -2% $18,202,648 AS2 Askarimetalslimited 0.27 -2% $18,530,422 DRE Dreadnought Resources Ltd 0.054 -2% $183,025,052 PAM Pan Asia Metals 0.26 -2% $41,145,571 LPM Lithium Plus 0.26 -2% $17,486,873 GL1 Globallith 1.53 -2% $404,120,391 LLL Leolithiumlimited 0.8925 -2% $897,922,510 LEL Lithenergy 1 -2% $96,910,200 EMS Eastern Metals 0.048 -2% $1,914,156 MTM MTM Critical Metals 0.1175 -2% $10,602,907 AZL Arizona Lithium Ltd 0.042 -2% $115,711,526 BMM Balkanminingandmin 0.2 -2% $9,793,263 A11 Atlantic Lithium 0.595 -2% $371,637,413 LIT Lithium Australia 0.037 -3% $46,405,284 QXR Qx Resources Limited 0.032 -3% $29,596,457 LKE Lake Resources 0.475 -3% $696,997,906 EMC Everest Metals Corp 0.095 -3% $12,684,445 EMC Everest Metals Corp 0.095 -3% $12,684,445 LM1 Leeuwin Metals Ltd 0.305 -3% $14,107,275 LIS Lisenergylimited 0.285 -3% $48,944,685 MRR Minrex Resources Ltd 0.013 -4% $14,645,711 KTA Krakatoa Resources 0.023 -4% $8,721,038 OCN Oceanalithiumlimited 0.38 -5% $15,670,600 GSM Golden State Mining 0.055 -5% $8,367,324 AML Aeon Metals Ltd. 0.018 -5% $20,831,612 TON Triton Min Ltd 0.036 -5% $59,331,513 TYX Tyranna Res Ltd 0.018 -5% $59,022,081 YAR Yari Minerals Ltd 0.016 -6% $8,200,083 VSR Voltaic Strategic 0.0985 -6% $38,793,063 RGL Riversgold 0.015 -6% $15,220,183 GW1 Greenwing Resources 0.225 -6% $35,978,346 A8G Australasian Metals 0.145 -6% $8,078,677 ZNC Zenith Minerals Ltd 0.115 -8% $44,047,610 ARN Aldoro Resources 0.11 -8% $16,130,849 FTL Firetail Resources 0.11 -8% $9,240,000 AAJ Aruma Resources Ltd 0.053 -10% $9,260,729 TMB Tambourahmetals 0.089 -11% $4,119,260 DAL Dalaroometalsltd 0.064 -15% $3,249,375 RLC Reedy Lagoon Corp. 0.005 -17% $3,400,318 AM7 Arcadia Minerals 0.13 -24% $7,938,642 AVW Avira Resources Ltd 0.002 -33% $6,401,370
Some 42 lithium stocks were in the green today, while 56 stayed even. Meanwhile 48 dropped down, albeit not by much, across the board.
Since announcing the purchase of the Jaguar lithium project in Brazil at the end of last month, SLM has raised $8.1m to get on with drilling after it produced rock-chip samples grading up to a whopping 4.95% Li2O along a 1km long and 50m wide spodumene-rich pegmatite body.
Shareholder Latin Resources (ASX:LRS) – also a Brazilian lithium player – increased its investment into SLM to 17.79%, pouring in $3m as part of the placement.
“The Jaguar pegmatite hosts confirm LCT-bearing pegmatites with some of the coarsest and most abundant spodumene occurrences I have seen,” former Delta Lithium (ASX:DLI) boss and current SLM exec director Matt Boyes says.
“These tenements, in what may be a new lithium province, are a fantastic addition to our already large tenement position in the northeast of Brazil, and with drilling to commence immediately.”
SLM expects to commence drilling on Jaguar this month, with Latin intending to support the explorer by making available its nous in exploration guidance and country experience.
Shares in SLM have risen more than 500% since late May.
FIN has identified clay-hosted lithium targets at its Gaspe project, part of the recently acquitted Mount Tremblant package in Quebec, Canada.
Gaspe covers a promontory (high land that juts out into a sea or large lake) drained by several streams, where government sampling returned extremely elevated stream sediment lithium up to 342ppm (0.0342%) Li2O.
Fieldwork across the Ross, Cancet West projects in James Bay is underway, with early stage targets already uncovered.
“This early stage work completed at the Gaspe lithium project is very exciting for FIN and highlights the significant value for shareholders within our recently acquired Mount Tremblant project package,” FIN resources director Jason Bontempo said.
“We now look forward to getting on the ground in Quebec and progressing the targets across Ross, Cancet West and Gaspe.”
MQR is accelerating its farm-in agreement with WA mining behemoth Mineral Resources (ASX:MIN) at its West Spargoville project (WSP) that will see Chris Ellison’s MIN acquire a 25% stake in the lithium rights.
MIN will dump $4.8m into exploration activities at the project within the next 12 months as part of the JV, where MQR has completed a maiden drilling program, which consisted of 122 RC drill holes for 18,687m and 391 AC drill holes for 19.156m.
Assays from the 122 RC holes returned with a peak of 1m @1.1% Li2O, as well as more than 300 parts per million (ppm) from across the 291 AC holes.
MQR chair Charles Thomas said the accelerated farm-in agreement reflects the significant progress made to-date with MIN at WSP.
“We signed our partnership agreement with MinRes less than one year ago and have formed a very close working relationship with the team there during this period,” Thomas said.
“By accelerating the farm-in agreement and officially forming this JV with MinRes, we hope to further capitalise on the extensive knowledge and technical capabilities that they have.
“We are confident that this is only the beginning of a promising discovery and development journey between the two companies.”
MQR and MIN are currently reviewing all the data of last year’s exploration campaign and expect to announce 2023 exploration program details “in the near term”.
CHR has finished off an intensive 14-hole RC first-pass drilling campaign at its Megabucks and Old Bucks prospects at the Bynoe Lithium project in the NT.
The company completed 14 drill-holes for 2,045m across the two prospective target areas in its maiden drilling program, with assays expected to be returned within the next two weeks.
The explorer struck pegmatites up to 36m thick down-hole with varying degrees of weathering.
With a first 114m hole completed, drilling is now focused at the Enterprise prospect for a further 2,000m, as well as deeper holes at the Megabucks and Old Bucks prospects.
CHR will also test new emerging drill targets in the area from recon mapping where pegmatites have been observed.
Samples from all completed drill-holes have been submitted to the laboratory, with first assays expected within the next two weeks.
CHR’s Bynoe Lithium project is close to the Core Lithium (ASX:CXO) Finess lithium project which has a mineral resource of 30.6Mt at 1.31% Li2O.
At Stockhead, we tell it like it is. While Latin Resources, Charger Metals and Fin Resources are Stockhead advertisers, they did not sponsor this article.
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