• Tesla considers bid for TSX, NASDAQ-listed project developer Sigma Lithium Corp, Bloomberg says
  • Pilbara Minerals sells 15,000 tonne cargo of spodumene using a new commercial model based on lithium hydroxide tolling
  • Essential Metals granted a new mining lease encompassing the Domes North lithium mineral resources at the Pioneer Dome project

All your lithium news, Monday February 20. 

 

EV maker Tesla is allegedly mulling  the takeover of Brazil based near term miner Sigma Lithium Corp, as the global scramble to secure critical minerals heats up.

According to Bloomberg, Tesla has been speaking with potential advisers about a bid and Sigma Lithium is one of the multiple mining operations the EV maker is exploring as it considers its own refining.

 

“Deliberations are in the early stages and may not lead to a transaction,” Bloomerg reported.

“Potential suitors may hesitate to bid after shares tripled in the last 12 months and on high price expectations by the owners.

“Sigma’s owners could also wait to develop the company’s main project further before seeking an exit.”

Sigma is developing its ‘Grota do Cirilo’ hard rock lithium deposit in Brazil, which is set to begin production in April.

In December 2022, the CAD$4.19bn market cap company revealed plans to almost triple its targeted annual output of battery grade lithium concentrate to about 100,000 tonnes of lithium carbonate equivalent (LCE) by 2024 after releasing economic results of its Production Expansion Study.

The news comes hot on the heels of LG Chem’s $75m investment into Piedmont Lithium’s (ASX:PLL) jointly-owned North American Lithium (NAL) project and GM’s $650 million investment in Lithium Americas to support its Thacker Pass development.

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE % TODAY MARKET CAP
IPT Impact Minerals 0.01 11% $22,332,335
LLO Lion One Metals Ltd 1 10% $10,670,369
AOA Ausmon Resorces 0.006 9% $4,852,591
LRS Latin Resources Ltd 0.125 9% $253,190,316
1MC Morella Corporation 0.013 8% $73,182,965
ARN Aldoro Resources 0.2 8% $20,888,779
FRS Forrestaniaresources 0.14 8% $7,915,869
AUN Aurumin 0.059 7% $9,803,254
EPM Eclipse Metals 0.019 6% $36,505,076
BMM Balkanminingandmin 0.385 5% $16,341,785
AOU Auroch Minerals Ltd 0.062 5% $25,242,863
ZEO Zeotech Limited 0.042 5% $65,628,227
LNR Lanthanein Resources 0.021 5% $22,431,511
VSR Voltaic Strategic 0.022 5% $6,453,304
RGL Riversgold 0.023 5% $20,800,290
AZI Altamin Limited 0.07 4% $26,245,022
PSC Prospect Res Ltd 0.185 3% $83,206,703
EMC Everest Metals Corp 0.09 2% $9,366,114
CAI Calidus Resources 0.235 2% $101,096,693
KGD Kula Gold Limited 0.024 2% $8,488,480
AAJ Aruma Resources Ltd 0.068 1% $10,516,421
LLI Loyal Lithium Ltd 0.345 1% $17,846,600
TKM Trek Metals Ltd 0.07 1% $25,112,211
RIO Rio Tinto Limited 124.92 1% $46,127,326,752
VUL Vulcan Energy 6.125 0% $877,824,042
ADV Ardiden Ltd 0.007 0% $18,818,347
AML Aeon Metals Ltd. 0.025 0% $27,410,016
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
ESS Essential Metals Ltd 0.5 0% $133,783,347
LIT Lithium Australia 0.044 0% $53,732,434
AX8 Accelerate Resources 0.028 0% $10,572,849
AM7 Arcadia Minerals 0.22 0% $10,273,536
BYH Bryah Resources Ltd 0.024 0% $6,750,083
DTM Dart Mining NL 0.045 0% $7,002,925
EMS Eastern Metals 0.071 0% $2,773,573
FG1 Flynngold 0.09 0% $9,258,618
GSM Golden State Mining 0.043 0% $5,031,611
IMI Infinitymining 0.2 0% $15,295,664
MMC Mitremining 0.29 0% $10,435,679
TMB Tambourahmetals 0.12 0% $4,943,112
TEM Tempest Minerals 0.024 0% $12,114,393
WCN White Cliff Min Ltd 0.012 0% $9,408,653
STM Sunstone Metals Ltd 0.034 0% $89,095,178
PGD Peregrine Gold 0.44 0% $17,055,671
AVW Avira Resources Ltd 0.003 0% $6,401,370
BNR Bulletin Res Ltd 0.11 0% $32,295,021
RMX Red Mount Min Ltd 0.0055 0% $11,508,001
MRR Minrex Resources Ltd 0.032 0% $34,715,760
EFE Eastern Resources 0.017 0% $21,113,090
MQR Marquee Resource Ltd 0.032 0% $10,470,640
NWM Norwest Minerals 0.066 0% $14,659,088
VKA Viking Mines Ltd 0.012 0% $12,303,101
SRI Sipa Resources Ltd 0.028 0% $6,388,428
VMC Venus Metals Cor Ltd 0.155 0% $27,602,196
G88 Golden Mile Res Ltd 0.022 0% $4,500,975
WC8 Wildcat Resources 0.029 0% $19,198,659
MNS Magnis Energy Tech 0.405 0% $392,984,251
M2R Miramar 0.073 0% $5,159,767
WMC Wiluna Mining Corp 0.205 0% $74,238,031
GW1 Greenwing Resources 0.24 0% $35,582,128
TYX Tyranna Res Ltd 0.027 0% $64,946,484
DAF Discovery Alaska Ltd 0.027 0% $6,054,337
FTL Firetail Resources 0.14 0% $9,100,000
IR1 Irismetals 1.16 0% $74,506,800
OCN Oceanalithiumlimited 0.34 0% $12,380,760
CMD Cassius Mining Ltd 0.03 0% $12,254,787
SGQ St George Min Ltd 0.078 0% $65,316,073
A11 Atlantic Lithium 0.645 -1% $393,732,079
DRE Dreadnought Resources Ltd 0.09 -1% $299,729,268
MTM Mtmongerresources 0.072 -1% $4,162,768
PAM Pan Asia Metals 0.355 -1% $52,868,012
CY5 Cygnus Metals Ltd 0.34 -1% $63,436,603
KZR Kalamazoo Resources 0.1675 -1% $25,299,294
WES Wesfarmers Limited 50.31 -2% $57,935,673,198
LIS Lisenergylimited 0.315 -2% $53,092,540
LRD Lordresourceslimited 0.15 -2% $5,077,048
PNN Power Minerals Ltd 0.45 -2% $33,233,088
ZNC Zenith Minerals Ltd 0.225 -2% $80,892,390
NVA Nova Minerals Ltd 0.605 -2% $130,233,561
NMT Neometals Ltd 0.795 -2% $450,484,058
TUL Tulla Resources 0.2725 -3% $59,597,566
SCN Scorpion Minerals 0.072 -3% $25,582,258
MXR Maximus Resources 0.036 -3% $11,805,063
LKE Lake Resources 0.6175 -3% $901,664,886
IGO IGO Limited 13.165 -3% $10,253,406,188
EUR European Lithium Ltd 0.067 -3% $99,997,503
TON Triton Min Ltd 0.032 -3% $45,631,878
EMH European Metals Hldg 0.635 -3% $82,528,304
MLS Metals Australia 0.0465 -3% $29,137,737
LRV Larvottoresources 0.155 -3% $10,760,756
ALY Alchemy Resource Ltd 0.0155 -3% $18,849,220
RDT Red Dirt Metals Ltd 0.43 -3% $197,983,833
GLN Galan Lithium Ltd 1.125 -3% $357,556,447
GL1 Globallith 1.67 -3% $368,789,733
MIN Mineral Resources. 82.05 -4% $16,238,624,041
AKE Allkem Limited 11.45 -4% $7,581,754,643
LTR Liontown Resources 1.295 -4% $2,956,921,481
CRR Critical Resources 0.05 -4% $82,697,296
CXO Core Lithium 0.9225 -4% $1,780,816,122
CHR Charger Metals 0.365 -4% $16,611,460
WR1 Winsome Resources 1.875 -4% $314,718,866
LEL Lithenergy 0.8 -4% $50,225,250
INF Infinity Lithium 0.11 -4% $53,198,091
RAS Ragusa Minerals Ltd 0.11 -4% $16,398,860
AZL Arizona Lithium Ltd 0.064 -4% $163,647,811
PLS Pilbara Min Ltd 4.24 -5% $13,310,984,536
KAI Kairos Minerals Ltd 0.021 -5% $43,210,057
SYA Sayona Mining Ltd 0.205 -5% $1,868,269,240
QXR Qx Resources Limited 0.04 -5% $37,668,217
PAT Patriot Lithium 0.375 -5% $23,951,813
ASN Anson Resources Ltd 0.185 -5% $229,971,287
A8G Australasian Metals 0.185 -5% $8,028,246
CZL Cons Zinc Ltd 0.018 -5% $9,164,798
LPI Lithium Pwr Int Ltd 0.355 -5% $235,911,585
DAL Dalaroometalsltd 0.085 -6% $2,688,750
LLL Leolithiumlimited 0.5425 -6% $567,327,724
AS2 Askarimetalslimited 0.57 -6% $29,926,645
AGY Argosy Minerals Ltd 0.6825 -6% $1,018,195,436
RAG Ragnar Metals Ltd 0.016 -6% $6,446,143
QPM Queensland Pacific 0.093 -6% $172,888,444
INR Ioneer Ltd 0.375 -6% $839,335,307
LPD Lepidico Ltd 0.015 -6% $122,204,348
WML Woomera Mining Ltd 0.015 -6% $15,298,579
EVR Ev Resources Ltd 0.015 -6% $14,975,745
GT1 Greentechnology 0.665 -6% $135,424,259
THR Thor Energy PLC 0.0055 -8% $8,853,677
XTC Xantippe Res Ltd 0.0055 -8% $63,480,598
KTA Krakatoa Resources 0.041 -9% $15,511,946
SRZ Stellar Resources 0.01 -9% $11,050,940
MM1 Midasmineralsltd 0.175 -10% $11,140,694
RLC Reedy Lagoon Corp. 0.008 -11% $5,100,476
CTN Catalina Resources 0.008 -11% $11,146,382
ENT Enterprise Metals 0.008 -11% $6,345,726
LSR Lodestar Minerals 0.004 -11% $7,822,968
TKL Traka Resources 0.007 -13% $5,782,196
JRL Jindalee Resources 2.36 -13% $154,923,208
PLL Piedmont Lithium Inc 0.93 -13% $455,219,500
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A total of 24 stocks finished in the green, 43 fell flat, and another 70 tumbled into the red.

 

Who’s got news out?

PILBARA MINERALS (ASX:PLS)

Pilbara Minerals has entered into a sales arrangement for a 15,000 tonne cargo of spodumene concentrate for delivery in the March Quarter.

This is the first sale of its kind for the company utilising a new commercial model based on lithium hydroxide tolling.

The company selected this model for this cargo having explored various other sales pathways including short-dated off-take and spot sales through the BMX platform.

PLS says the sale, which was made to a chemical converter, was structured to be based on a tolling arrangement under which Pilbara Minerals will receive the value of lithium hydroxide price for the product sold less an agreed amount for conversion and other costs.

This is the first time Pilbara Minerals has utilised such a pricing methodology, which has the potential to be highly favourable and opens the door for future tolling arrangements.

The actual price received for this cargo will be calculated using future lithium hydroxide pricing at the time of conversion to lithium hydroxide.

 

ESSENTIAL METALS (ASX:ESS)

ESS has been granted a new mining lease (M15/1896) with a term of 21 years covering 2,408 hectares, encompassing the Domes North lithium mineral resources and surrounding area where the future mining operation infrastructure will be located.

ESS says this represents the first steps towards establishing an operating mining with next steps including the lodgement of a mining proposal, which includes a mine closure plan.

The Pioneer Dome lithium project is in the heart of Western Australia’s ‘lithium corridor’, around 130km south of Kalgoorlie in the Yilgarn province.

In January, ESS received a takeover offer from Tianqi Lithium Energy Australia (TLEA), a JV between $US19bn capped Tianqi Lithium (51%) and  $10.5bn IGO (ASX:IGO) (49%).

Growth-hungry TLEA currently owns an integrated lithium business in WA, including a 51% interest in the Greenbushes lithium operation and the Kwinana lithium hydroxide refinery.

The deal values ESS at ~$136m, or 50c per share –a 44.9% premium to the last closing price before the deal was announced.

 

MANY PEAKS GOLD (ASX:MPG)

Many Peaks Gold has received the granting of an additional two mineral licences expanding the Aska lithium project from 151km2 to a 193km2 area in an emerging lithium district in Newfoundland, Canada.

The additional mineral licences are contiguous with previously granted mineral licences and covers the same favourable geological setting host to lithium-caesium-tantalum (LCT) type pegmatites at Aska.

“We look forward to further advancing exploration at Aska over the coming months on this exciting opportunity for the company as we progress into more amenable weather conditions in North America,” MPG executive chairman Travis Schwertfeger said.

 

KULA GOLD (ASX:KGD)

Kula’s DBGM prospect is turning out to be a whole lot larger than previously thought, after soil sampling increased its strike length by more than 700m.

Latest surface sampling results are encouraging, with up to 102ppm lithium, and provide KGD with confidence that its exploration work at the Brunswick Project – in a renowned lithium district in WA’s southwest region only 45km from the world’s largest hard rock lithium mine, Greenbushes – is paying off.

The rock chip samples have been sent to the laboratory for multi-element analysis, which includes not only lithium detection but additional pathfinder elements such as caesium, niobium, and tantalum.

KGD expects the results shortly as it plans to undertake a prospect-scale drone magnetic survey that will allow for the interpretation of zones and enable pegmatites to come to the near surface.

 

FORRESTANIA RESOURCES (ASX:FRS)

Forrestania has appointed former Firefinch MD, Dr Michael Anderson, to the board as managing director and CEO.

Anderson, a PhD qualified geologist, was managing director at Firefinch during a pivotal, and ultimately disastrous period for the company in its transformation from junior gold and lithium explorer to gold producer at the Morila gold mine in Mali.

“Michael’s extensive experience and execution capability will be a fantastic asset to the company going forward,” FRS chairman John Hannaford said.

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