• Stellantis and Samsung plan EV facility to supply battery modules as EV demand surges, construction to begin later this year 
  • Emerging lithium producer SYA appoints new chief financial officer 
  • CAI begins drilling the Pirra Lithium Spear Hill discovery in WA’s Pilbara region

All your latest lithium news for Friday, May 27.

 

Stellantis, the world’s fourth largest carmaker, plans to build an EV battery manufacturing facility in Kokomo, Indiana with joint venture partner Samsun SDI targeting an initial production capacity of 23GWh – increasing further as demand for EVs is expected to rise.

The joint venture company committed more than $2.5 billion on Wednesday but this amount could gradually increase up to $3.1 billion as the facility plans to supply battery modules for a range of vehicles produced at Stellantis’ North American assembly plants.

Plant construction activities are expected to begin later this year and production is set to take off in the first quarter of 2025.

“Just under one year ago, we committed to an aggressive electrification strategy anchored by five giga-factories between Europe and North America,” Stellantis CEO Carlos Tavares said.

“This announcement further solidifies our global battery production footprint.”

After revealing the plans at a media briefing earlier this week, Tavares told journalists this would be the fifth and last of the gigafactories the automaker plans to build.

He then went on to say he expects a shortage of EV batteries by 2024-25, followed by a lack of raw materials for the vehicles that will slow availability and adoption of EVs by 2027-2028.

Tavares urged policy makers globally to stop aggressively moving targets for EVs forward, adding the only thing that helps car companies is stability.

“The speed at which we are trying to move all together for the right reason, which is fixing the global warming issue, is so high that the supply chain and the production capacities have no time to adjust,” he said.

In February, Stellantis and lithium-ion battery developer LG Energy Solution revealed plans to build Canada’s first large-scale electric vehicle battery manufacturing facility in Windsor, Ontario targeting a battery production capacity of more than 45 GWh/year.

 

Here’s how ASX lithium stocks were tracking today:

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Code Company Price % Month % Week % Today Market Cap
RAS Ragusa Minerals Ltd 0.17 98% 113% 21% $17,592,096.20
WML Woomera Mining Ltd 0.024 -11% 20% 20% $13,736,661.32
VMC Venus Metals Cor Ltd 0.19 -3% 9% 15% $24,927,982.70
CZL Cons Zinc Ltd 0.025 -17% 4% 14% $7,729,871.89
LSR Lodestar Minerals 0.01 -29% 0% 11% $15,645,936.13
FFX Firefinch Ltd 1.05 2% 18% 9% $1,133,993,492.16
MTM Mtmongerresources 0.175 -15% 21% 9% $5,801,605.28
ESS Essential Metals Ltd 0.59 -5% 13% 9% $132,738,877.44
ADV Ardiden Ltd 0.012 -20% 0% 9% $29,351,688.92
TKM Trek Metals Ltd 0.0865 4% 22% 8% $24,836,812.00
EMS Eastern Metals 0.205 -5% 17% 8% $6,764,000.00
MRR Minrex Resources Ltd 0.057 -19% 4% 8% $53,461,921.98
LPI Lithium Pwr Int Ltd 0.585 -26% 1% 7% $190,283,942.16
ENT Enterprise Metals 0.015 -29% 7% 7% $9,025,055.97
PLL Piedmont Lithium Inc 0.87 -7% 13% 6% $432,608,056.00
QPM Queensland Pacific 0.18 6% 9% 6% $265,814,232.27
1MC Morella Corporation 0.0275 -24% -5% 6% $134,581,563.64
QXR Qx Resources Limited 0.055 -20% 15% 6% $44,686,840.69
DAF Discovery Alaska Ltd 0.075 88% 67% 6% $15,849,663.56
SHH Shree Minerals Ltd 0.01 -23% 11% 5% $11,611,250.47
MNS Magnis Energy Tech 0.41 -10% 4% 5% $376,929,278.31
PGD Peregrine Gold 0.52 3% 13% 5% $18,951,901.16
VUL Vulcan Energy 7.55 -12% 5% 5% $946,528,197.10
WCN White Cliff Min Ltd 0.021 -25% -5% 5% $13,072,067.24
MQR Marquee Resource Ltd 0.105 -19% 12% 5% $31,194,848.50
CXO Core Lithium 1.34 0% 8% 5% $2,217,411,998.72
LTR Liontown Resources 1.34 -7% 9% 5% $2,806,048,253.44
GSM Golden State Mining 0.068 -13% 8% 5% $6,747,952.38
ARN Aldoro Resources 0.23 -18% 2% 5% $21,826,989.58
SRZ Stellar Resources 0.023 -21% 5% 5% $18,464,657.77
AOU Auroch Minerals Ltd 0.092 -26% 7% 5% $31,794,558.31
PLS Pilbara Min Ltd 2.935 10% 8% 4% $8,364,904,082.33
RAG Ragnar Metals Ltd 0.047 0% 15% 4% $17,063,320.01
G88 Golden Mile Res Ltd 0.049 -26% -6% 4% $9,575,432.86
CRR Critical Resources 0.079 -21% -1% 4% $113,058,583.44
RLC Reedy Lagoon Corp. 0.027 -16% 0% 4% $14,257,287.98
AKE Allkem Limited 13.99 18% 13% 4% $8,602,007,580.14
AGY Argosy Minerals Ltd 0.45 -2% 17% 3% $589,319,217.57
GW1 Greenwing Resources 0.315 -31% -3% 3% $37,590,441.45
BNR Bulletin Res Ltd 0.165 -25% -8% 3% $46,414,576.00
AS2 Askarimetalslimited 0.5 -24% -3% 3% $20,166,105.52
PNN PepinNini Minerals 0.51 -36% -11% 3% $30,413,930.58
INR Ioneer Ltd 0.545 -16% 8% 3% $1,108,388,692.60
GL1 Globallith 1.655 -18% -2% 3% $255,504,192.16
NMT Neometals Ltd 1.32 -19% 2% 3% $704,663,668.86
AX8 Accelerate Resources 0.039 -22% 3% 3% $10,011,438.16
SRI Sipa Resources Ltd 0.039 -20% -3% 3% $7,790,942.51
RIO Rio Tinto Limited 113.595 4% 6% 3% $41,123,332,186.92
IGO IGO Limited 12.255 -4% 11% 2% $9,064,495,721.61
MIN Mineral Resources. 61.55 13% 4% 2% $11,393,700,298.74
PAM Pan Asia Metals 0.49 -10% 2% 2% $35,356,149.12
LPD Lepidico Ltd 0.0285 -23% 6% 2% $182,192,084.82
WR1 Winsome Resources 0.415 -13% -8% 1% $55,396,737.54
AZI Altamin Limited 0.097 13% 0% 1% $37,604,808.19
CHR Charger Metals 0.555 -20% 0% 1% $17,919,569.25
RDT Red Dirt Metals Ltd 0.585 4% 16% 1% $174,877,424.58
GLN Galan Lithium Ltd 1.415 -19% 1% 1% $427,681,103.61
GT1 Greentechnology 0.955 -17% 14% 1% $129,420,400.00
AML Aeon Metals Ltd. 0.036 -35% -5% 0% $33,939,319.97
AVZ AVZ Minerals Ltd 0.78 -26% 0% 0% $2,752,409,203.44
EMH European Metals Hldg 0.94 -25% -3% 0% $132,330,347.10
EUR European Lithium Ltd 0.071 -29% -10% 0% $98,186,868.16
LIT Lithium Australia 0.087 -13% 2% 0% $90,059,374.49
SYA Sayona Mining Ltd 0.205 -41% -24% 0% $1,472,463,246.73
TON Triton Min Ltd 0.028 -18% -3% 0% $35,245,956.96
BYH Bryah Resources Ltd 0.047 -25% 4% 0% $10,631,737.23
DTM Dart Mining NL 0.07 -8% -11% 0% $9,468,211.20
FG1 Flynngold 0.14 -10% -3% 0% $8,968,547.00
IMI Infinitymining 0.155 -23% -3% 0% $8,912,500.00
LRV Larvottoresources 0.33 -27% 10% 0% $13,598,475.00
MMC Mitremining 0.145 -19% 0% 0% $3,927,339.50
TMB Tambourahmetals 0.215 -19% -4% 0% $8,856,408.57
TSC Twenty Seven Co. Ltd 0.003 -25% -25% 0% $7,982,441.72
AZL Arizona Lithium Ltd 0.15 -17% 0% 0% $334,907,881.80
SCN Scorpion Minerals 0.105 40% 17% 0% $34,842,275.16
AVW Avira Resources Ltd 0.004 -33% -20% 0% $8,475,160.00
A8G Australasian Metals 0.39 -20% 11% 0% $16,056,492.66
NWM Norwest Minerals 0.046 -18% 2% 0% $8,307,939.80
AOA Ausmon Resorces 0.009 0% 13% 0% $7,715,604.09
VKA Viking Mines Ltd 0.008 -27% -11% 0% $8,202,067.45
WC8 Wildcat Resources 0.033 -15% -3% 0% $21,293,999.99
THR Thor Mining PLC 0.013 -19% -7% 0% $13,753,238.41
DRE Dreadnought Resources Ltd 0.043 -2% 10% 0% $122,063,392.69
MM1 Midasmineralsltd 0.325 -7% 7% 0% $17,692,390.63
MMG Monger Gold Ltd 0.305 5% 3% 0% $7,625,000.00
WMC Wiluna Mining Corp 0.48251 -28% 0% 0% $101,961,574.11
AUN Aurumin 0.175 -8% -8% 0% $19,114,069.10
ZEO Zeotech Limited 0.053 -17% 2% 0% $80,820,519.91
ALY Alchemy Resource Ltd 0.027 -16% -4% 0% $25,732,999.54
LIS Lisenergylimited 0.625 -7% 4% 0% $103,696,366.88
TYX Tyranna Res Ltd 0.009 50% 0% 0% $11,811,246.00
LNR Lanthanein Resources 0.024 -25% -8% 0% $20,107,813.68
DAL Dalaroometalsltd 0.12 -25% -11% 0% $3,405,000.00
LKE Lake Resources 1.455 -28% 4% 0% $1,942,882,718.48
PSC Prospect Res Ltd 0.96 2% 1% -1% $430,068,258.39
ZNC Zenith Minerals Ltd 0.3825 -6% 5% -1% $132,403,099.68
IR1 Irismetals 0.39 -38% -38% -1% $19,987,000.00
FTL Firetail Resources 0.34 -9% 5% -1% $21,314,962.50
JRL Jindalee Resources 3.25 -26% -10% -2% $189,350,587.80
ASN Anson Resources Ltd 0.1325 -2% 15% -2% $138,768,165.23
CAI Calidus Resources 0.88 -8% 7% -2% $362,067,307.20
NVA Nova Minerals Ltd 0.62 -16% 0% -2% $114,428,450.98
FRS Forrestaniaresources 0.195 -43% -7% -3% $5,619,760.80
KTA Krakatoa Resources 0.075 -35% -5% -3% $26,542,663.61
LEL Lithenergy 1.265 28% 7% -3% $58,695,000.00
EFE Eastern Resources 0.035 -26% -8% -3% $35,799,718.72
MXR Maximus Resources 0.064 -23% -9% -3% $20,981,780.69
RGL Riversgold 0.042 -35% -13% -3% $24,857,905.09
STM Sunstone Metals Ltd 0.054 -21% -4% -4% $144,168,999.41
INF Infinity Lithium 0.13 -24% 0% -4% $56,026,763.91
EPM Eclipse Metals 0.026 -21% 0% -4% $51,870,413.15
TEM Tempest Minerals 0.05 -46% -21% -4% $26,234,390.47
M2R Miramar 0.125 -34% 9% -4% $8,306,030.85
AM7 Arcadia Minerals 0.22 -25% 0% -4% $8,048,275.00
IPT Impact Minerals 0.011 -13% 0% -4% $25,190,308.24
MLS Metals Australia 0.085 -43% -23% -4% $38,715,217.69
LRD Lordresourceslimited 0.305 2% 15% -5% $9,851,078.72
EVR Ev Resources Ltd 0.039 -29% -7% -5% $37,965,346.91
KZR Kalamazoo Resources 0.34 -18% -1% -5% $51,906,988.71
TKL Traka Resources 0.0085 -15% 6% -6% $6,198,971.05
RMX Red Mount Min Ltd 0.0085 -6% 6% -6% $14,781,274.72
AAJ Aruma Resources Ltd 0.066 -31% -16% -6% $10,987,305.21
LRS Latin Resources Ltd 0.1125 -34% -17% -6% $231,458,141.52
KAI Kairos Minerals Ltd 0.026 -10% -4% -7% $54,938,617.75
XTC Xantippe Res Ltd 0.011 -21% 10% -8% $92,196,682.79
BMM Balkanminingandmin 0.27 -24% 0% -10% $9,825,000.00
KGD Kula Gold Limited 0.031 -34% -6% -11% $7,531,147.12

A total of 58 stocks were in the green today, with 36 flatlining and 33 in the red.

 

Who’s got news out today?

Sayona Mining (ASX:SYA)

Emerging lithium producer SYA is building its team for the launch of production in Quebec, Canada with the appointment of a new chief financial officer.

Salvatore Vitare is Sayona Québec’s new chief financial officer, responsible for overseeing all financial activities as part of a company-wide revamp to reflect SYA’s progression towards production in 2023.

“With our North American Lithium operation picking up speed together with our other operations such as our northern hub and move towards downstream processing, Sayona has the right team in place at the right time for the world’s decarbonisation drive,” MD Bretty Lynch said.

The company’s northern Québec hub is gaining momentum, with additional drilling planned for the northern summer of 288 drill holes and results from the last drilling program of 38 holes expected in June.

 

Calidus Resources (ASX:CAI)

CAI kicked off a maiden drill program at the Pirra Lithium Spear Hill discovery in Western Australia’s Pilbara region, targeting an outcropping lithium body over 1.2km of the total 2.5km strike length where rock chip assayed up to 2.34% lithium oxide.

The initial drill program will comprise of 38 holes for approximately 3,000m.

“We believe Spear Hill has excellent potential, as indicated by the high-grade lithium rock-chip results identified earlier this year,” MD Dave Reeves said.

“Concurrently we are actively assessing the lithium potential across the wider Spear Hill area and the rest of the tenement package, utilising interpretation of remotely sensed data, field mapping, and rock-chip sampling.”

 

Venus Metals (ASX:VMC)

After identifying LCT pegmatites at the Henderson tenements northwest of Menzies in the WA’s Eastern Goldfields region back in February, VMC has now received the latest results for 89 rock samples, with 29 pegmatite samples reporting over 100ppm lithium oxide.

Maximum returns of 5.8% lithium oxide and 3.6% lithium oxide have been received, respectively.

The two highest lithium assays are from the previously reported pegmatites at the Emerald SE Prospect which has been identified as a priority area for drilling.

A Reverse Circulation (RC) drill rig has been contracted to test areas prospective for lithium and will also follow‐up gold targets identified from Stage 1 aircore drilling.

 

Alchemy Resources (ASX:ALY)

Fieldwork across ALY’s Karonie Project, east of Kalgoorlie, has identified outcropping pegmatites over the recently discovered lithium in soils anomalies.

The pegmatite cluster has been mapped over an initial 7km x 1.5km area, doubling the strike length at the Cherry and Hickory prospects.

“We expect the infill soils will zero in on zones which sit under the thin surface cover, and this will help us plan the next steps,” CEO James Wilson said.

“The rock-chip assays are all showing very high tenor pathfinder anomalism which plots within the highly evolved and fractionated granite chemistry, telling us that we are exploring in exactly the right spot.”