Eye on Lithium: Stratospheric lithium prices are encouraging Chinese ceramic producers to grab a piece of the pie

Koba Resources stakes project right next door to Canada’s only operating lithium mine
Trek Metals uncovers spodumene at the Tambourah Lithium Project
Sayona advances the restart of production at North American Lithium (NAL) operation

All your lithium news, Thursday October 27.

Battery grade lithium carbonate prices in China have risen 115% since the start of the year, Benchmark Mineral Intelligence says, breaking RMB 540,000 ($74,000) a tonne this week and attracting ceramic producers to make the switch to lithium slag processing.

The ceramics industry can take lithium slag waste and turn it into a useful stock to be further converted into lithium carbonate.

“It just shows how desperately lithium is needed,” Albert Li, an analyst at Benchmark, says.

“And at this existing lithium price in China it is economically doable.”

Earlier this week, French-based company Imerys who has been producing kaolin for the ceramics industry since the late 19th century announced its entry into the lithium space with a new ‘landmark’ project in France, set to produce 34,000t of lithium hydroxide per year from 2028.

Here’s how ASX lithium stocks are tracking:

CODE	COMPANY	PRICE	% TODAY	MARKET CAP
NWM	Norwest Minerals	0.045	36%	$7,329,544
TKM	Trek Metals Ltd	0.068	15%	$18,325,999
FRS	Forrestaniaresources	0.2	11%	$9,075,568
LPD	Lepidico Ltd	0.021	11%	$125,062,108
PSC	Prospect Res Ltd	0.11	10%	$46,225,946
BMM	Balkanminingandmin	0.3	9%	$11,827,958
SRZ	Stellar Resources	0.012	9%	$11,050,940
CZL	Cons Zinc Ltd	0.024	9%	$10,184,272
RLC	Reedy Lagoon Corp.	0.013	8%	$6,689,123
WCN	White Cliff Min Ltd	0.0205	8%	$14,204,464
GT1	Greentechnology	0.925	7%	$164,988,710
AS2	Askarimetalslimited	0.47	7%	$20,010,814
DRE	Dreadnought Resources Ltd	0.1225	7%	$349,891,358
PNN	Power Minerals Ltd	0.495	6%	$33,553,020
LPI	Lithium Pwr Int Ltd	0.6225	6%	$228,852,659
ALY	Alchemy Resource Ltd	0.036	6%	$39,884,593
EPM	Eclipse Metals	0.02	5%	$38,460,880
QXR	Qx Resources Limited	0.061	5%	$51,148,015
LRS	Latin Resources Ltd	0.105	5%	$198,993,581
GL1	Globallith	2.54	5%	$384,049,780
SYA	Sayona Mining Ltd	0.2675	5%	$2,119,178,285
KTA	Krakatoa Resources	0.065	5%	$21,372,015
EMH	European Metals Hldg	0.795	5%	$90,964,162
FG1	Flynngold	0.12	4%	$7,367,021
MTM	Mtmongerresources	0.12	4%	$4,313,654
A11	Atlantic Lithium	0.61	4%	$354,358,871
EMS	Eastern Metals	0.125	4%	$4,638,750
AML	Aeon Metals Ltd.	0.027	4%	$28,429,200
WML	Woomera Mining Ltd	0.0135	4%	$10,178,830
TEM	Tempest Minerals	0.029	4%	$14,133,453
KAI	Kairos Minerals Ltd	0.029	4%	$54,994,618
STM	Sunstone Metals Ltd	0.031	3%	$77,893,393
MQR	Marquee Resource Ltd	0.062	3%	$19,057,055
NMT	Neometals Ltd	1.12	3%	$599,295,961
WC8	Wildcat Resources	0.032	3%	$20,204,955
PLS	Pilbara Min Ltd	5.13	3%	$14,876,952,627
KZR	Kalamazoo Resources	0.185	3%	$26,787,487
PAM	Pan Asia Metals	0.4	3%	$57,273,680
MXR	Maximus Resources	0.042	2%	$13,075,136
MRR	Minrex Resources Ltd	0.043	2%	$45,495,070
LLL	Leolithiumlimited	0.655	2%	$631,460,424
RGL	Riversgold	0.044	2%	$33,380,945
CHR	Charger Metals	0.465	2%	$19,840,746
A8G	Australasian Metals	0.245	2%	$9,880,919
MNS	Magnis Energy Tech	0.3875	2%	$368,725,964
AUN	Aurumin	0.083	2%	$10,212,532
AGY	Argosy Minerals Ltd	0.575	2%	$786,968,448
JRL	Jindalee Resources	2.32	2%	$130,824,042
VUL	Vulcan Energy	7.37	1%	$1,042,047,638
SCN	Scorpion Minerals	0.075	1%	$24,694,258
AZL	Arizona Lithium Ltd	0.086	1%	$204,843,673
LIT	Lithium Australia	0.0505	1%	$61,059,084
AKE	Allkem Limited	14.495	1%	$9,156,770,115
WES	Wesfarmers Limited	44.765	1%	$50,319,829,940
LTR	Liontown Resources	1.9475	1%	$4,250,102,402
PLL	Piedmont Lithium Inc	0.96	1%	$1,527,232,992
MIN	Mineral Resources.	77.27	0%	$14,594,105,070
LKE	Lake Resources	1.05	0%	$1,453,489,151
RIO	Rio Tinto Limited	92.205	0%	$34,099,921,418
ADV	Ardiden Ltd	0.007	0%	$18,678,347
AVZ	AVZ Minerals Ltd	0.78	0%	$2,752,409,203
INF	Infinity Lithium	0.22	0%	$91,673,950
MLS	Metals Australia	0.039	0%	$23,674,411
TKL	Traka Resources	0.006	0%	$4,132,647
TON	Triton Min Ltd	0.023	0%	$31,804,036
AAJ	Aruma Resources Ltd	0.07	0%	$10,987,305
AM7	Arcadia Minerals	0.31	0%	$14,476,347
BYH	Bryah Resources Ltd	0.024	0%	$6,702,083
IMI	Infinitymining	0.23	0%	$14,517,313
LRV	Larvottoresources	0.185	0%	$9,232,518
MMC	Mitremining	0.175	0%	$4,739,893
RAG	Ragnar Metals Ltd	0.022	0%	$8,342,068
TMB	Tambourahmetals	0.13	0%	$5,355,038
TSC	Twenty Seven Co. Ltd	0.002	0%	$10,643,256
CRR	Critical Resources	0.06	0%	$89,411,259
WR1	Winsome Resources	0.365	0%	$49,316,608
AZI	Altamin Limited	0.084	0%	$32,904,207
ENT	Enterprise Metals	0.01	0%	$6,529,807
AVW	Avira Resources Ltd	0.003	0%	$6,401,370
RMX	Red Mount Min Ltd	0.005	0%	$8,211,819
CAI	Calidus Resources	0.34	0%	$148,845,780
LSR	Lodestar Minerals	0.005	0%	$8,692,187
VKA	Viking Mines Ltd	0.008	0%	$8,202,067
IPT	Impact Minerals	0.007	0%	$17,369,594
SRI	Sipa Resources Ltd	0.054	0%	$11,071,339
VMC	Venus Metals Cor Ltd	0.15	0%	$24,011,802
ZNC	Zenith Minerals Ltd	0.285	0%	$98,257,250
G88	Golden Mile Res Ltd	0.026	0%	$5,319,334
THR	Thor Mining PLC	0.008	0%	$8,814,388
MM1	Midasmineralsltd	0.18	0%	$10,283,718
M2R	Miramar	0.092	0%	$6,502,720
XTC	Xantippe Res Ltd	0.007	0%	$57,016,609
WMC	Wiluna Mining Corp	0.205	0%	$74,238,031
GW1	Greenwing Resources	0.315	0%	$39,754,721
FTL	Firetail Resources	0.19	0%	$11,738,675
DAL	Dalaroometalsltd	0.13	0%	$3,883,750
TUL	Tulla Resources	0.37	0%	$59,280,243
IR1	Irismetals	1.695	-1%	$106,954,650
GLN	Galan Lithium Ltd	1.57	-1%	$481,220,412
INR	Ioneer Ltd	0.53	-1%	$1,122,501,731
OCN	Oceanalithiumlimited	0.46	-1%	$15,589,125
LIS	Lisenergylimited	0.425	-1%	$71,343,100
IGO	IGO Limited	16.24	-1%	$12,449,482,846
ASN	Anson Resources Ltd	0.325	-2%	$387,678,688
AOU	Auroch Minerals Ltd	0.058	-2%	$21,895,596
TYX	Tyranna Res Ltd	0.047	-2%	$115,412,416
1MC	Morella Corporation	0.0215	-2%	$127,634,227
KGD	Kula Gold Limited	0.038	-3%	$13,112,265
ZEO	Zeotech Limited	0.037	-3%	$61,352,248
EFE	Eastern Resources	0.036	-3%	$41,452,616
RDT	Red Dirt Metals Ltd	0.53	-3%	$180,937,724
GSM	Golden State Mining	0.034	-3%	$4,095,497
LEL	Lithenergy	1.165	-3%	$72,180,000
QPM	Queensland Pacific	0.165	-3%	$294,145,290
LRD	Lordresourceslimited	0.33	-3%	$11,316,771
AX8	Accelerate Resources	0.031	-3%	$8,654,685
ARN	Aldoro Resources	0.28	-3%	$32,070,322
NVA	Nova Minerals Ltd	0.685	-4%	$130,399,505
BNR	Bulletin Res Ltd	0.135	-4%	$40,962,754
EVR	Ev Resources Ltd	0.022	-4%	$21,297,634
CXO	Core Lithium	1.39	-4%	$2,669,227,620
DAF	Discovery Alaska Ltd	0.033	-6%	$7,848,214
RAS	Ragusa Minerals Ltd	0.235	-6%	$32,753,157
SHH	Shree Minerals Ltd	0.0075	-6%	$9,907,895
DTM	Dart Mining NL	0.068	-7%	$11,333,992
EUR	European Lithium Ltd	0.09	-7%	$135,823,200
CY5	Cygnus Gold Limited	0.5	-7%	$82,849,670
CMD	Cassius Mining Ltd	0.026	-10%	$11,708,486
ESS	Essential Metals Ltd	0.485	-11%	$137,216,628
LNR	Lanthanein Resources	0.031	-11%	$33,698,895
MMG	Monger Gold Ltd	0.42	-13%	$19,219,200
AOA	Ausmon Resorces	0.006	-14%	$6,001,025
PGD	Peregrine Gold	0.415	-30%	$23,039,326

56 lithium companies finished in the green, 41 fell flat and 36 tumbled into the red zone.

Who else has got news out?

KOBA RESOURCES (ASX:KOB)

KOB has staked a project right next door to Canada’s only operating lithium mine, Tanco, which has reserves of 7.Mt at 2.76%.

Extensive pegmatites have already been mapped at Whitlock, with an initial field program to commence in the coming days.

READ: Onya KOB – ASX explorer stakes project next to Canada’s only lithium mine, jumps 136%

TREK METALS (ASX:TKM)

An expanded regional mapping and rock chip program across the Tambourah Lithium Project has confirmed the presence of spodumene within an extensive pegmatite system that has never been drill tested.

Shares in TKM surged on the news this morning with chief executive Derek Marshall stating the company will be focusing its efforts on the next stage of exploration which is the the definition of drill targets as agreements and approvals to get a rig turning progress.

“Given the current and forecasted demand for lithium, we intend to elevate this project as a priority opportunity for Trek within our battery metals focused portfolio,” he says.

SAYONA MINING (ASX:SYA)

Sayona has further advanced the restart of production at its North American Lithium (NAL) operation with permitting applications and procurement both 96% complete.

NAL’s restart is on track for Q1 2023, the company says, amid the intense growing demand for lithium.

Construction activities also continue, with the installation of the HP300 and HP400 Cone Crushers almost complete and the Wet High Intensity Magnetic Separator (WHIMS) fully assembled, among other items.

CORE LITHIUM (ASX:CXO)

Core’s proposed deal to supply spodumene from its new Finniss mine in the Northern Territory to Elon Musk’s Tesla has fallen through, which saw the stock tumble some 7% in morning trade.

It comes shortly after the firm sold its first product from Finniss as a DSO product, taking advantage of strong demand in Asia for lithium raw materials, with prices for chemicals and spod at record levels.

Read: Green dream punctuates FMG’s quarterly update as iron ore mainstay keeps growing

POWER MINERALS (ASX:PNN)

Direct lithium extraction leader, Sunresin New Materials, has completed a successful bulk-sample test of brines from Power’s Salta Lithium Project located in the lithium triangle of north-west Argentina.

Bulk-sample testing confirmed that the brine chemistry and quality at the Incahuasi, Rincon and Pocitos salares at Salta is amenable to Sunresin’s DLE technology and plant, and successfully produced a lithium concentrate.

This marks a major positive step in progressing Power’s Memorandum of Understanding (MoU) with Sunresin – which is proposed to be carried out in a four phase process, with the end goal of securing a binding agreement for a commercial-scale lithium producing operation.

FLYNN GOLD (ASX:FG1)

Eleven lithium anomalies have been identified from an Ultra-fine soil sampling program within exploration licence E45/5055, including a 1.2km long high priority target – which the company says may represent a lithium pegmatite association.

“Follow-up geophysical assessment and in-fill sampling will be undertaken at Mount Dove ahead of further exploration of this largely un-explored project,” CEO Neil Marston says.

METALSGROVE MINING (ASX:MGA)

Surface mapping at the Bruce prospect in the Northern Territory has confirmed LCT-pegmatite potential, ranging in size from less than a metre wide to four metres and have a strike length of a few metres to more than 200 metres.

The results will greatly assist in refining drill targets for testing, MGA managing director Sean Sivasamy says, with the next program set to get underway in Q4, 2022.

BENZ MINING (ASX:BNZ)

A helicopter supported reconnaissance and prospection campaign at the Ruby Hill property has identified 12 new pegmatite zones along the 45km strike of greenstone belt under the tenure.

As the company awaits assays from 45 rock chip samples, 129 claims have been acquired – extending the boundaries of the existing tenement package past newly identified prospective areas.

“Those new claims increase considerably our footprint on the Upper Eastmain Greenstone belt which is only starting to blossom,” CEO Xavier Braud Braud says.

BNZ says the results will help guide potential drilling in the area in the 2023 drilling program.

ESSENTIAL METALS (ASX:ESS)

ESS has received lithium assays from latest round of drilling, paving the way towards a resource update towards the end of November at the Pioneer Dome Project.

Best intersections include 3m at 1.22% Li2O from 134m, 2.6m at 0.86% Li2O from 179m and 5m at 0.89% Li2O from 77m.