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Eye on Lithium: Rapid development of gigafactories across emerging markets a sign EV production ain’t slowing down
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- Leo Lithium wraps up resource drilling at Goulamina Project
- Red Dirt Metals executes a non-binding MoU for future product offtake
- Midas Minerals receives initial surface geochemical results from the Lake Seabrook Project in WA
All your lithium news for Wednesday, December 14.
Benchmark Mineral Intelligence (BMI) says investment into battery gigafactories outside the major markets of China, Europe and the US is starting to pick up pace as the construction of 13 get underway in Southeast Asia.
These gigafactories, which are expected to come online by as early as 2026, will add 104 gigawatt hours of battery capacity by the end of the decade, enough for almost 2 million EVs.
Malaysia will lead the charge as it works toward growing its battery capacity from 6GWh last year to 37.4GWh by the end of 2030.
“Samsung SDI, a battery making unit of South Korean conglomerate Samsung Electronics, in July began construction of a $1.4 billion factory in Seremban, Malaysia, its second, to meet the growing demand for cylindrical cells,” Benchmark reports.
Elsewhere in the region, China’s largest electric vehicle producer BYD said it would build a production hub in Thailand, while Hyundai is building a battery factory in Indonesia along with LG Energy Solution.
The list also includes Turkey where South Korean battery company SK Innovation plans to build a battery plant with Ford and local player Koc Holding.
Benchmark’s analysis shows these gigafactories would together contribute about 37.6% of Asian (excluding China) capacity of 205 GWh by the end of 2026 and about 40.5% by the end of 2030.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| ADV | Ardiden Ltd | 0.008 | 14% | $18,678,347 |
| TKL | Traka Resources | 0.008 | 14% | $4,821,422 |
| BMM | Balkanminingandmin | 0.345 | 13% | $13,118,281 |
| AZI | Altamin Limited | 0.09 | 13% | $31,337,340 |
| XTC | Xantippe Res Ltd | 0.0055 | 10% | $40,726,149 |
| ZNC | Zenith Minerals Ltd | 0.27 | 8% | $87,828,645 |
| LLL | Leolithiumlimited | 0.495 | 8% | $453,862,180 |
| INF | Infinity Lithium | 0.15 | 7% | $64,762,893 |
| AGY | Argosy Minerals Ltd | 0.63 | 7% | $828,600,424 |
| DAF | Discovery Alaska Ltd | 0.032 | 7% | $6,727,041 |
| RGL | Riversgold | 0.033 | 6% | $29,309,499 |
| EVR | Ev Resources Ltd | 0.017 | 6% | $14,863,745 |
| CZL | Cons Zinc Ltd | 0.019 | 6% | $8,332,586 |
| A11 | Atlantic Lithium | 0.71 | 5% | $408,875,621 |
| KZR | Kalamazoo Resources | 0.205 | 5% | $29,019,778 |
| DAL | Dalaroometalsltd | 0.105 | 5% | $2,987,500 |
| SGQ | St George Min Ltd | 0.076 | 4% | $59,234,705 |
| PSC | Prospect Res Ltd | 0.135 | 4% | $60,093,730 |
| INR | Ioneer Ltd | 0.4925 | 4% | $996,710,677 |
| KTA | Krakatoa Resources | 0.057 | 4% | $18,959,045 |
| TON | Triton Min Ltd | 0.034 | 3% | $45,631,878 |
| SCN | Scorpion Minerals | 0.07 | 3% | $22,692,021 |
| STM | Sunstone Metals Ltd | 0.036 | 3% | $91,715,625 |
| LIS | Lisenergylimited | 0.36 | 3% | $58,069,965 |
| LRD | Lordresourceslimited | 0.205 | 3% | $6,656,924 |
| NVA | Nova Minerals Ltd | 0.67 | 2% | $137,328,134 |
| DRE | Dreadnought Resources Ltd | 0.093 | 2% | $279,707,751 |
| LPI | Lithium Pwr Int Ltd | 0.48 | 2% | $183,864,529 |
| AM7 | Arcadia Minerals | 0.245 | 2% | $11,207,494 |
| TYX | Tyranna Res Ltd | 0.0245 | 2% | $57,730,208 |
| ZEO | Zeotech Limited | 0.052 | 2% | $83,675,989 |
| GT1 | Greentechnology | 0.885 | 2% | $165,942,402 |
| CXO | Core Lithium | 1.1525 | 2% | $2,086,492,541 |
| VUL | Vulcan Energy | 6.8 | 1% | $961,779,870 |
| ESS | Essential Metals Ltd | 0.385 | 1% | $101,485,344 |
| TKM | Trek Metals Ltd | 0.079 | 1% | $28,387,716 |
| SYA | Sayona Mining Ltd | 0.2175 | 1% | $1,867,066,780 |
| AKE | Allkem Limited | 13.18 | 1% | $8,308,684,861 |
| EMC | Everest Metals Corp | 0.092 | 1% | $9,685,413 |
| MIN | Mineral Resources. | 85.87 | 1% | $16,127,529,894 |
| WR1 | Winsome Resources | 1.295 | 1% | $178,861,747 |
| EMH | European Metals Hldg | 0.675 | 1% | $80,086,956 |
| IGO | IGO Limited | 14.985 | 1% | $11,283,290,414 |
| NMT | Neometals Ltd | 0.93 | 1% | $511,285,588 |
| RIO | Rio Tinto Limited | 114.47 | 0% | $42,355,770,017 |
| LTR | Liontown Resources | 1.705 | 0% | $3,733,940,095 |
| PLS | Pilbara Min Ltd | 4.53 | 0% | $13,550,330,192 |
| WES | Wesfarmers Limited | 48.05 | 0% | $54,469,685,226 |
| 1MC | Morella Corporation | 0.016 | 0% | $95,224,893 |
| ASN | Anson Resources Ltd | 0.21 | 0% | $247,433,534 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| EUR | European Lithium Ltd | 0.078 | 0% | $113,040,656 |
| JRL | Jindalee Resources | 1.97 | 0% | $113,036,563 |
| LIT | Lithium Australia | 0.046 | 0% | $56,174,817 |
| MLS | Metals Australia | 0.051 | 0% | $30,958,846 |
| RLC | Reedy Lagoon Corp. | 0.012 | 0% | $6,689,123 |
| GL1 | Globallith | 2.02 | 0% | $429,650,477 |
| LEL | Lithenergy | 0.865 | 0% | $52,029,750 |
| ARN | Aldoro Resources | 0.255 | 0% | $28,792,641 |
| CHR | Charger Metals | 0.57 | 0% | $24,855,440 |
| PAM | Pan Asia Metals | 0.42 | 0% | $61,679,348 |
| AX8 | Accelerate Resources | 0.029 | 0% | $9,019,804 |
| DTM | Dart Mining NL | 0.066 | 0% | $10,247,171 |
| EMS | Eastern Metals | 0.081 | 0% | $3,164,217 |
| FG1 | Flynngold | 0.145 | 0% | $9,433,852 |
| FRS | Forrestaniaresources | 0.135 | 0% | $8,209,526 |
| GSM | Golden State Mining | 0.046 | 0% | $5,382,653 |
| MMC | Mitremining | 0.295 | 0% | $7,990,105 |
| RAG | Ragnar Metals Ltd | 0.018 | 0% | $6,825,328 |
| CTN | Catalina Resources | 0.009 | 0% | $11,146,382 |
| TMB | Tambourahmetals | 0.13 | 0% | $5,355,038 |
| WML | Woomera Mining Ltd | 0.019 | 0% | $18,167,063 |
| AZL | Arizona Lithium Ltd | 0.067 | 0% | $161,465,013 |
| KGD | Kula Gold Limited | 0.029 | 0% | $10,475,146 |
| ENT | Enterprise Metals | 0.009 | 0% | $6,345,726 |
| KAI | Kairos Minerals Ltd | 0.024 | 0% | $47,138,244 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| BNR | Bulletin Res Ltd | 0.1 | 0% | $29,259,110 |
| RMX | Red Mount Min Ltd | 0.005 | 0% | $8,211,819 |
| CAI | Calidus Resources | 0.275 | 0% | $120,431,219 |
| A8G | Australasian Metals | 0.235 | 0% | $9,675,066 |
| EFE | Eastern Resources | 0.03 | 0% | $34,603,547 |
| MQR | Marquee Resource Ltd | 0.041 | 0% | $13,022,321 |
| SRZ | Stellar Resources | 0.012 | 0% | $12,055,571 |
| LSR | Lodestar Minerals | 0.0055 | 0% | $9,561,405 |
| NWM | Norwest Minerals | 0.05 | 0% | $11,105,369 |
| AOA | Ausmon Resorces | 0.0075 | 0% | $6,429,670 |
| VKA | Viking Mines Ltd | 0.01 | 0% | $10,252,584 |
| IPT | Impact Minerals | 0.007 | 0% | $17,369,594 |
| SRI | Sipa Resources Ltd | 0.038 | 0% | $8,625,465 |
| EPM | Eclipse Metals | 0.016 | 0% | $32,388,110 |
| WC8 | Wildcat Resources | 0.029 | 0% | $19,198,659 |
| THR | Thor Mining PLC | 0.007 | 0% | $10,095,490 |
| M2R | Miramar | 0.09 | 0% | $6,361,357 |
| AOU | Auroch Minerals Ltd | 0.052 | 0% | $19,297,814 |
| LLI | Loyal Lithium Ltd | 0.365 | 0% | $17,060,100 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ALY | Alchemy Resource Ltd | 0.027 | 0% | $31,808,059 |
| FTL | Firetail Resources | 0.15 | 0% | $9,750,000 |
| TUL | Tulla Resources | 0.375 | 0% | $75,222,276 |
| CMD | Cassius Mining Ltd | 0.026 | 0% | $10,620,815 |
| GLN | Galan Lithium Ltd | 1.18 | -1% | $362,438,158 |
| MTM | Mtmongerresources | 0.089 | -1% | $5,132,180 |
| LKE | Lake Resources | 0.8925 | -1% | $1,259,442,082 |
| PGD | Peregrine Gold | 0.295 | -2% | $11,625,567 |
| PLL | Piedmont Lithium Inc | 0.83 | -2% | $445,797,326 |
| PNN | Power Minerals Ltd | 0.515 | -2% | $37,883,099 |
| LRS | Latin Resources Ltd | 0.1225 | -2% | $254,695,160 |
| RDT | Red Dirt Metals Ltd | 0.425 | -2% | $181,014,733 |
| OCN | Oceanalithiumlimited | 0.415 | -2% | $15,013,125 |
| QPM | Queensland Pacific | 0.1025 | -2% | $183,366,532 |
| MXR | Maximus Resources | 0.041 | -2% | $13,394,042 |
| MRR | Minrex Resources Ltd | 0.037 | -3% | $41,224,965 |
| IR1 | Irismetals | 1.47 | -3% | $94,722,300 |
| MM1 | Midasmineralsltd | 0.18 | -3% | $10,569,376 |
| AS2 | Askarimetalslimited | 0.35 | -3% | $17,762,084 |
| AML | Aeon Metals Ltd. | 0.029 | -3% | $32,892,019 |
| CY5 | Cygnus Gold Limited | 0.435 | -3% | $74,561,577 |
| BYH | Bryah Resources Ltd | 0.026 | -4% | $7,593,844 |
| VMC | Venus Metals Cor Ltd | 0.13 | -4% | $24,040,622 |
| MNS | Magnis Energy Tech | 0.385 | -4% | $388,132,593 |
| TEM | Tempest Minerals | 0.025 | -4% | $13,123,921 |
| RAS | Ragusa Minerals Ltd | 0.125 | -4% | $17,591,359 |
| CRR | Critical Resources | 0.046 | -4% | $75,736,237 |
| QXR | Qx Resources Limited | 0.046 | -4% | $42,329,391 |
| G88 | Golden Mile Res Ltd | 0.022 | -4% | $4,705,564 |
| LRV | Larvottoresources | 0.185 | -5% | $10,414,073 |
| GW1 | Greenwing Resources | 0.305 | -6% | $41,028,222 |
| LPD | Lepidico Ltd | 0.014 | -7% | $114,566,568 |
| WCN | White Cliff Min Ltd | 0.014 | -7% | $11,299,278 |
| LNR | Lanthanein Resources | 0.027 | -7% | $27,921,942 |
| VSR | Voltaic Strategic | 0.024 | -8% | $7,967,197 |
| AAJ | Aruma Resources Ltd | 0.066 | -8% | $11,301,228 |
| IMI | Infinitymining | 0.275 | -8% | $22,926,996 |
| AUN | Aurumin | 0.074 | -9% | $10,939,628 |
44 lithium companies finished in the green, 57 were flat and 34 tumbled into the red.
Who’s got news out?
LEO LITHIUM (ASX:LLL)
The 2022 resource drilling program at Leo Lithium’s Danaya Domain within the Goulamina Project has wrapped up after returning high-grade drilling results such as 82m at 1.67% Li2O from 68m, 47m at 2.43% Li2O from 146m and 20m at 1.56% Li2O from 84m.
Around 99pc of RC assay results have been received and diamond core has been geologically logged, with information to be used to prep an updated mineral resource estimate.
RED DIRT METALS (ASX:RDT)
A non-binding MoU for future product offtake has been executed with VinES Energy Solutions Joint Stock company – a member of Vingroup, the largest private conglomerate in Vietnam.
The MOU relates to potential future spodumene concentrate production (up to 45,000tpa) from Red Dirt’s flagship Mt Ida Lithium Project in WA.
RDT says the parties will explore opportunities for joint development of mid-stream and/or downstream projects in the lithium value-chain.
MIDAS MINERALS (ASX:MM1)
Initial surface geochemical results have been received from the Lake Seabrook Project in WA where exploration has identified anomalous lithium (Li), tantalum (Ta), tin (Sn), caesium (Cs), niobium (Nb), bismuth (Bi) and molybdenum (Mo) in clusters, considered to be indicative of the potential for lithium bearing pegmatites.
Midas will undertake further mapping and geochemical sampling to define and prioritise potential drill targets, with mapping to kick off in early 2023.
PURSUIT MINERALS (ASX:PUR)
Pursuit has entered an agreement to acquire Argentina-focused lithium company, Trilogy Minerals.
Trilogy holds the rights to acquire over 9,233ha at the Rio Grande Sur Project, which hosts an inferred resource of 2.1Mt LCE at an average grade of 370mg/Li to a depth of 100m.
It is currently in the process of undertaking a capital raising through the issue of convertible notes to raise $8m which will complete prior to the end of December 2022.
Funds raised through the Trilogy Class B Notes will be used to exercise options over Tenements 1, 2 3 and 4 and these Tenements will be owned prior to settlement of the acquisition with Pursuit.
PATRIOT BATTERY METALS (ASX:PMT)
PMT’s Corvette lithium property in Quebec has returned some of the highest individual sample grades yet, including 113.4m at 1.61% Li2O (including 2m at 6.41% Li2O).
On top of this, the CV5 pegmatite system remains open in all directions with wide widths and strong grades encountered along its currently defined 2.2km length.
PMT’s president and CEO Blair Way says with 38 holes yet to be received from the lab, and the recommencement of drilling in January, the company will have continuous news flow on the property for some time.
Leo Lithium, Red Dirt Minerals, Midas, Pursuit Minerals, and Patriot Battery Metals share price today
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