Lithium prices are looking a sad. Pic: via Getty Images
Eye on Lithium: Spot prices wilting, but producers are still cashing in with megaprofits
Mining
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- Chinese lithium chemical prices continue to soften
- Pilbara Minerals pays first ever dividend
- Resource Base acquiring lithium projects in Quebec
All your lithium news, Friday February 24.
Chinese lithium chemical prices have continued to soften as cathode manufacturers continued to destock, leading to a 4.5% decrease in Benchmark Mineral Intelligence’s Lithium Price Index.
Lithium carbonate is currently priced at US$62,875/t, down 4.6%, while lithium hydroxide dropped 4.2% US$68,911/t. The price of 6% spodumene concentrate was unchanged at US$6,000/t.
Lithium carbonate prices in Europe and North America remained stable across the two week assessment period with transactions ranging between $55,000/t and 75,000/t as customers employed a watch and wait strategy. Buyers in Europe and North America also rejected high-priced spot price offers citing descending spot market prices in Asia.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| IPT | Impact Minerals | 0.009 | 13% | $19,850,964 |
| CY5 | Cygnus Metals Ltd | 0.33 | 12% | $54,242,893 |
| AML | Aeon Metals Ltd. | 0.023 | 10% | $23,024,413 |
| DTM | Dart Mining NL | 0.046 | 10% | $6,536,064 |
| AUN | Aurumin | 0.052 | 8% | $8,555,567 |
| GSM | Golden State Mining | 0.043 | 8% | $4,680,568 |
| ASN | Anson Resources Ltd | 0.2025 | 7% | $224,074,587 |
| SYA | Sayona Mining Ltd | 0.245 | 7% | $1,998,613,606 |
| WR1 | Winsome Resources | 2.12 | 6% | $321,158,126 |
| CHR | Charger Metals | 0.35 | 6% | $14,425,741 |
| A11 | Atlantic Lithium | 0.67 | 6% | $384,645,954 |
| NWM | Norwest Minerals | 0.039 | 5% | $8,217,973 |
| AKE | Allkem Limited | 12.07 | 5% | $7,307,561,666 |
| LNR | Lanthanein Resources | 0.02 | 5% | $21,309,936 |
| CZL | Cons Zinc Ltd | 0.021 | 5% | $9,647,156 |
| VSR | Voltaic Strategic | 0.021 | 5% | $6,146,004 |
| ZEO | Zeotech Limited | 0.044 | 5% | $68,909,638 |
| AM7 | Arcadia Minerals | 0.23 | 5% | $10,273,536 |
| RAS | Ragusa Minerals Ltd | 0.115 | 5% | $15,685,866 |
| LRS | Latin Resources Ltd | 0.12 | 4% | $253,190,316 |
| CXO | Core Lithium | 0.97 | 4% | $1,725,165,618 |
| TYX | Tyranna Res Ltd | 0.026 | 4% | $60,135,633 |
| PLS | Pilbara Min Ltd | 4.655 | 4% | $13,431,076,893 |
| JRL | Jindalee Resources | 2.38 | 3% | $131,971,622 |
| LPD | Lepidico Ltd | 0.0155 | 3% | $114,566,576 |
| EFE | Eastern Resources | 0.0165 | 3% | $19,871,143 |
| KZR | Kalamazoo Resources | 0.17 | 3% | $24,555,197 |
| STM | Sunstone Metals Ltd | 0.035 | 3% | $89,095,178 |
| A8G | Australasian Metals | 0.175 | 3% | $6,998,984 |
| BMM | Balkanminingandmin | 0.36 | 3% | $15,670,205 |
| LPI | Lithium Pwr Int Ltd | 0.37 | 3% | $226,475,122 |
| PAM | Pan Asia Metals | 0.37 | 3% | $52,868,012 |
| LEL | Lithenergy | 0.79 | 3% | $46,315,500 |
| QXR | Qx Resources Limited | 0.04 | 3% | $34,977,631 |
| KTA | Krakatoa Resources | 0.041 | 3% | $13,788,397 |
| FG1 | Flynngold | 0.083 | 2% | $8,332,756 |
| LTR | Liontown Resources | 1.355 | 2% | $2,912,952,389 |
| GLN | Galan Lithium Ltd | 1.145 | 2% | $343,745,254 |
| CAI | Calidus Resources | 0.24 | 2% | $103,294,447 |
| CRR | Critical Resources | 0.05 | 2% | $77,926,298 |
| LIS | Lisenergylimited | 0.29 | 2% | $47,285,543 |
| AOU | Auroch Minerals Ltd | 0.06 | 2% | $25,242,863 |
| EMH | European Metals Hldg | 0.625 | 2% | $77,488,408 |
| NMT | Neometals Ltd | 0.8175 | 2% | $444,956,647 |
| LLI | Loyal Lithium Ltd | 0.345 | 1% | $20,226,600 |
| VUL | Vulcan Energy | 6.31 | 1% | $892,167,572 |
| RDT | Red Dirt Metals Ltd | 0.39 | 1% | $171,289,384 |
| GL1 | Globallith | 1.58 | 1% | $332,550,279 |
| IGO | IGO Limited | 13.46 | 1% | $10,071,661,913 |
| PLL | Piedmont Lithium Inc | 0.9375 | 1% | $393,817,800 |
| WES | Wesfarmers Limited | 48.57 | 0% | $54,975,952,958 |
| ADV | Ardiden Ltd | 0.007 | 0% | $18,818,347 |
| 1MC | Morella Corporation | 0.011 | 0% | $67,084,385 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| ESS | Essential Metals Ltd | 0.495 | 0% | $132,445,514 |
| INF | Infinity Lithium | 0.105 | 0% | $48,572,170 |
| MLS | Metals Australia | 0.05 | 0% | $30,351,810 |
| RLC | Reedy Lagoon Corp. | 0.008 | 0% | $4,533,757 |
| TKL | Traka Resources | 0.007 | 0% | $5,059,422 |
| TON | Triton Min Ltd | 0.033 | 0% | $45,631,878 |
| AX8 | Accelerate Resources | 0.027 | 0% | $10,195,247 |
| BYH | Bryah Resources Ltd | 0.021 | 0% | $5,906,323 |
| EMS | Eastern Metals | 0.071 | 0% | $2,773,573 |
| IMI | Infinitymining | 0.22 | 0% | $16,825,230 |
| MMC | Mitremining | 0.3 | 0% | $10,795,530 |
| CTN | Catalina Resources | 0.0085 | 0% | $10,527,139 |
| TMB | Tambourahmetals | 0.105 | 0% | $4,325,223 |
| TEM | Tempest Minerals | 0.023 | 0% | $11,609,627 |
| WCN | White Cliff Min Ltd | 0.011 | 0% | $8,624,599 |
| AZL | Arizona Lithium Ltd | 0.063 | 0% | $153,877,792 |
| KGD | Kula Gold Limited | 0.022 | 0% | $7,946,662 |
| PNN | Power Minerals Ltd | 0.455 | 0% | $32,871,859 |
| MTM | Mtmongerresources | 0.105 | 0% | $5,987,543 |
| SCN | Scorpion Minerals | 0.072 | 0% | $24,890,846 |
| AZI | Altamin Limited | 0.075 | 0% | $29,378,756 |
| ENT | Enterprise Metals | 0.008 | 0% | $5,640,646 |
| KAI | Kairos Minerals Ltd | 0.02 | 0% | $39,281,870 |
| PGD | Peregrine Gold | 0.43 | 0% | $16,668,042 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| GT1 | Greentechnology | 0.645 | 0% | $123,026,263 |
| BNR | Bulletin Res Ltd | 0.11 | 0% | $32,295,021 |
| RMX | Red Mount Min Ltd | 0.005 | 0% | $11,359,255 |
| MQR | Marquee Resource Ltd | 0.031 | 0% | $10,143,433 |
| LSR | Lodestar Minerals | 0.005 | 0% | $8,692,187 |
| VKA | Viking Mines Ltd | 0.011 | 0% | $11,277,843 |
| SRI | Sipa Resources Ltd | 0.027 | 0% | $6,160,270 |
| RGL | Riversgold | 0.022 | 0% | $20,800,290 |
| ZNC | Zenith Minerals Ltd | 0.23 | 0% | $80,892,390 |
| G88 | Golden Mile Res Ltd | 0.022 | 0% | $4,500,975 |
| EVR | Ev Resources Ltd | 0.015 | 0% | $14,039,761 |
| WC8 | Wildcat Resources | 0.029 | 0% | $19,198,659 |
| MXR | Maximus Resources | 0.035 | 0% | $11,166,952 |
| M2R | Miramar | 0.072 | 0% | $5,089,085 |
| XTC | Xantippe Res Ltd | 0.006 | 0% | $63,480,598 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ALY | Alchemy Resource Ltd | 0.016 | 0% | $18,849,220 |
| DAF | Discovery Alaska Ltd | 0.027 | 0% | $6,054,337 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| DAL | Dalaroometalsltd | 0.08 | 0% | $2,390,000 |
| OCN | Oceanalithiumlimited | 0.33 | 0% | $12,016,620 |
| CMD | Cassius Mining Ltd | 0.033 | 0% | $13,480,266 |
| LLO | Lion One Metals Ltd | 0.9 | 0% | $10,611,417 |
| PAT | Patriot Lithium | 0.35 | 0% | $21,223,126 |
| MIN | Mineral Resources. | 85.01 | 0% | $16,258,770,050 |
| LKE | Lake Resources | 0.6125 | 0% | $873,265,992 |
| INR | Ioneer Ltd | 0.3775 | -1% | $797,368,541 |
| AGY | Argosy Minerals Ltd | 0.725 | -1% | $1,025,217,474 |
| LLL | Leolithiumlimited | 0.535 | -1% | $532,794,732 |
| EUR | European Lithium Ltd | 0.069 | -1% | $101,446,742 |
| LRV | Larvottoresources | 0.155 | -2% | $10,592,619 |
| AS2 | Askarimetalslimited | 0.58 | -2% | $29,203,542 |
| NVA | Nova Minerals Ltd | 0.55 | -2% | $117,630,313 |
| QPM | Queensland Pacific | 0.098 | -2% | $174,634,792 |
| LIT | Lithium Australia | 0.04 | -2% | $50,068,859 |
| PSC | Prospect Res Ltd | 0.2 | -2% | $94,763,190 |
| ARN | Aldoro Resources | 0.18 | -3% | $20,888,779 |
| LRD | Lordresourceslimited | 0.165 | -3% | $5,659,661 |
| TKM | Trek Metals Ltd | 0.065 | -3% | $24,384,321 |
| MM1 | Midasmineralsltd | 0.16 | -3% | $9,426,741 |
| MRR | Minrex Resources Ltd | 0.031 | -3% | $34,715,760 |
| RIO | Rio Tinto Limited | 119.32 | -3% | $45,808,080,808 |
| FRS | Forrestaniaresources | 0.14 | -3% | $8,829,239 |
| VMC | Venus Metals Cor Ltd | 0.14 | -3% | $25,821,409 |
| EMC | Everest Metals Corp | 0.083 | -3% | $9,153,247 |
| TUL | Tulla Resources | 0.25 | -4% | $55,340,597 |
| DRE | Dreadnought Resources Ltd | 0.082 | -5% | $283,260,627 |
| EPM | Eclipse Metals | 0.019 | -5% | $40,561,196 |
| MNS | Magnis Energy Tech | 0.365 | -5% | $373,577,621 |
| SGQ | St George Min Ltd | 0.071 | -5% | $62,803,916 |
| RAG | Ragnar Metals Ltd | 0.015 | -6% | $6,066,958 |
| GW1 | Greenwing Resources | 0.215 | -7% | $34,099,539 |
| WML | Woomera Mining Ltd | 0.013 | -7% | $13,386,257 |
| AAJ | Aruma Resources Ltd | 0.062 | -7% | $10,516,421 |
| AOA | Ausmon Resorces | 0.0055 | -8% | $5,539,736 |
| THR | Thor Energy PLC | 0.0055 | -8% | $8,853,677 |
| SRZ | Stellar Resources | 0.01 | -9% | $11,050,940 |
| FTL | Firetail Resources | 0.145 | -9% | $10,400,000 |
It was a fairly positive day for lithium companies today with 50 of the companies we track reporting gains on the ASX while just 32 were in the red, leaving 50 companies unchanged.
Who’s got news out?
Pilbara Minerals (ASX:PLS)
The lithium producer has paid its first dividend of 11c per share – totalling $329.8m – five years after the start of operations at its Pilgangoora lithium mine.
The hectic run on lithium prices saw Pilbara Minerals deliver a profit of $1.24bn in the December half, well above the $114m half-year profit in the earlier part of 2022, itself the company’s first ever profit.
Average realised spodumene prices rose 305% year on year on a 5.4% basis (forget the 6% Li2O benchmark grade) to US$4993/dmt CIF China while production climbed 83% to 309,255t.
Revenue climbed 647% to $2.18bn while earnings jumped a massive 1,091% to $1.81bn.
Vulcan Energy (ASX:VUL)
Vulcan has received approval for its preliminary environmental impact assessment for the drilling of further development wells at its core Insheim licence where it has existing geothermal wells and plant already in production.
The preliminary approval states that the environmental impacts of the planned deep wells for geothermal energy and lithium are not significant in terms of their size, extent, and impact intensity, and therefore do not require a full EIA.
Meanwhile, onsite works are continuing at the company’s lithium extraction demonstration plant in Landau with operations still on track to begin in the middle of this year.
Brine lines to the existing geothermal operation have been successfully installed and manufacturing of Vulcan’s proprietary sorbent VULSORB has been manufactured at the tonne scale by a French toll manufacturer.
Resource Base (ASX:RBX)
Resource Base has secured an option to acquire the Wali and Ernst Lake lithium projects in the popular James Bay lithium district in Quebec, which also hosts Patriot Battery Metals’ Corvette project that has seen drill hits such as 52.2m at 3.34% Li2O and 156.9m at 2.12% Li2O.
Wali cover 51.12km2 over a greenstone belt that is interpreted to be a ‘dismembered’ section of the same Guyer Formation belt that hosts Patriot’s CV5 discovery.
Meanwhile, the 56.31km2 Ernst Lake project contains the Trieste Formation greenstone belt within the project is interpreted to be the south section of the same Trieste Formation belt that hosts Winsome Resources’ Adina discovery.
During the 45-day option period, the company plans to undertake a detailed technical compilation and review of the Quebec Resource Ministry database to identify and prioritise prospective targets for a maiden exploration program in early June.
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