• The world’s demand for lithium is increasing but the lack of investment in new supply poses a great issue 
  • Nissan Motor Co and Mitsubishi Motors unveil new electric “kei” mini vehicles worth US$15,000
  • LIT managing director Adrian Griffin will take on new role as technical director 

Here is all your ASX lithium news for Tuesday, May 31.

 

Nissan Motor Co and Mitsubishi Motors have recently unveiled A new electric “kei” mini vehicle as Japan’s government pushes for the country to hit net-zero emissions by 2050 and while it might not suit all users, it does provide insight into how EV markets are evolving.

The Nissan and Mitsubishi model will travel 170 km on a single charge and cost +2 million yen ($US17,500) after government subsidies.

With EV prices dropping to below the $US20,000 mark it should come as no surprise that the world is going to need about five times more lithium by the end of the decade.

BloombergNEF
Timely investment is the issue when it comes to lithium supply. Pic: BloombergNEF

 

Of course, the quickest way to increase supply is by ramping-up output from existing sources but as Bloomberg states, for many brine lithium producers increasing output quickly is constrained by their permits and the time taken to let the liquid evaporate.

Another longer-term solution is to find new deposits, but while mining superpowers Australia and Canada have both committed to developing critical mineral resources, the time it takes to develop a new mine cannot be underestimated.

“There is plenty of lithium in the ground, but timely investment is the issue,” said Joe Lowry, founder of advisory firm Global Lithium.

“Tesla can build a gigafactory in about two years, cathode plants can be built in less time, but it can take up to 10 years to build a greenfield lithium brine project.”

 

Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

 

CODE COMPANY Last %Mth %Wk % MARKET CAP
ADV Ardiden Ltd 0.0115 -23% -4% -4% $32,020,024
AGY Argosy Minerals Ltd 0.5 10% 23% 2% $663,830,843
1MC Morella Corporation 0.028 -24% 4% 4% $139,757,778
AML Aeon Metals Ltd. 0.035 -22% -8% 3% $32,053,802
ASN Anson Resources Ltd 0.145 0% 21% 0% $149,047,289
AVZ AVZ Minerals Ltd 0.78 -21% 0% 0% $2,752,409,203
CXO Core Lithium 1.365 -3% 3% -1% $2,381,985,546
EMH European Metals Hldg 0.96 -17% -2% -1% $135,849,771
ESS Essential Metals Ltd 0.585 -11% 8% -4% $150,334,339
EUR European Lithium Ltd 0.078 -19% -1% 3% $105,101,436
GLN Galan Lithium Ltd 1.5 -13% 5% -2% $465,731,024
INF Infinity Lithium 0.14 -20% 8% 4% $56,026,764
INR Ioneer Ltd 0.5525 -18% 0% -3% $1,192,040,669
JRL Jindalee Resources 3.47 -21% 1% -2% $203,121,540
LIT Lithium Australia 0.092 -8% 2% 0% $95,235,201
LKE Lake Resources 1.49 -24% -1% 0% $1,994,916,209
LPD Lepidico Ltd 0.0305 -10% 9% 2% $195,205,805
LPI Lithium Pwr Int Ltd 0.6 -24% 5% -2% $214,724,082
LTR Liontown Resources 1.385 -5% 7% 0% $3,047,193,025
MIN Mineral Resources. 62.95 8% 6% 0% $11,862,919,441
FFX Firefinch Ltd 1.0725 -4% 11% -2% $1,293,461,327
MLS Metals Australia 0.082 -41% -14% -1% $36,105,203
AKE Allkem Limited 13.995 14% 8% -1% $8,990,979,013
PLL Piedmont Lithium Inc 0.915 -3% 10% -1% $488,002,990
PLS Pilbara Min Ltd 2.95 4% 5% -1% $8,870,965,895
QPM Queensland Pacific 0.18 -8% 9% -3% $289,268,429
PSC Prospect Res Ltd 0.955 -2% 1% 0% $425,611,592
RLC Reedy Lagoon Corp. 0.027 -7% -7% 0% $14,805,645
SYA Sayona Mining Ltd 0.205 -36% -13% 0% $1,473,555,131
TKL Traka Resources 0.008 -20% 0% -6% $5,854,584
TON Triton Min Ltd 0.027 -16% -7% 0% $33,987,173
VUL Vulcan Energy 7.84 -8% 4% -1% $1,042,629,113
GL1 Globallith 1.59 -21% -6% -3% $260,265,140
BMM Balkanminingandmin 0.305 -9% 2% 0% $9,988,750
LEL Lithenergy 1.21 -17% -5% -2% $55,986,000
ARN Aldoro Resources 0.225 -18% 2% 2% $21,826,990
NMT Neometals Ltd 1.365 -14% 5% 0% $745,791,899
IGO IGO Limited 12.56 -5% 8% 0% $9,496,138,375
CHR Charger Metals 0.56 -19% 0% 3% $17,756,664
AAJ Aruma Resources Ltd 0.086 -18% 12% -3% $13,969,574
PAM Pan Asia Metals 0.485 -10% -4% -4% $37,197,615
AX8 Accelerate Resources 0.036 -28% 0% -3% $9,747,979
AM7 Arcadia Minerals 0.235 -18% 7% 7% $7,698,350
AS2 Askarimetalslimited 0.495 -27% -5% 0% $20,581,902
BYH Bryah Resources Ltd 0.047 -16% 7% 0% $10,631,737
DTM Dart Mining NL 0.069 -5% -5% 1% $9,197,691
EMS Eastern Metals 0.175 -17% -13% -3% $6,408,000
FG1 Flynngold 0.135 -16% -7% 0% $8,648,242
FRS Forrestaniaresources 0.19 -47% 0% 0% $5,338,773
GSM Golden State Mining 0.065 -14% -4% -4% $7,059,396
IMI Infinitymining 0.165 -18% 3% 0% $9,487,500
LRV Larvottoresources 0.3 -31% 0% -2% $12,568,288
MMC Mitremining 0.15 -14% 3% 0% $4,062,765
RAG Ragnar Metals Ltd 0.048 -2% 12% 2% $17,821,690
SHH Shree Minerals Ltd 0.011 -15% 10% 5% $12,833,487
TMB Tambourahmetals 0.21 -16% -2% 0% $8,650,446
TEM Tempest Minerals 0.048 -52% -9% -2% $24,720,868
TSC Twenty Seven Co. Ltd 0.0035 -13% -13% 0% $9,312,849
WCN White Cliff Min Ltd 0.021 -25% 0% 0% $13,725,671
WML Woomera Mining Ltd 0.027 8% 23% 4% $17,857,660
AZL Arizona Lithium Ltd 0.15 -14% -3% 0% $334,907,882
CRR Critical Resources 0.08 -20% -1% 0% $119,018,231
KGD Kula Gold Limited 0.033 -31% 0% -1% $7,208,384
LRS Latin Resources Ltd 0.1175 -13% -6% -2% $231,507,342
PNN PepinNini Minerals 0.525 -39% 1% 0% $32,257,199
WR1 Winsome Resources 0.415 -12% -2% -2% $57,423,447
KZR Kalamazoo Resources 0.34 -16% -7% 0% $49,366,087
MTM Mtmongerresources 0.18 -10% 20% 3% $6,345,506
QXR Qx Resources Limited 0.053 -24% 10% 0% $45,546,203
SCN Scorpion Minerals 0.1 14% -5% 0% $33,183,119
AZI Altamin Limited 0.096 28% 0% 0% $37,604,808
ENT Enterprise Metals 0.015 -17% 15% 0% $9,669,703
KAI Kairos Minerals Ltd 0.0265 -9% -2% 2% $51,014,431
STM Sunstone Metals Ltd 0.054 -19% 2% -2% $141,594,553
PGD Peregrine Gold 0.52 2% 6% 0% $19,909,068
AVW Avira Resources Ltd 0.0045 -10% 0% 0% $9,534,555
NVA Nova Minerals Ltd 0.635 -17% -5% 0% $114,428,451
GT1 Greentechnology 1.01 -11% 15% -2% $140,318,960
BNR Bulletin Res Ltd 0.18 -10% 3% 3% $50,765,943
RMX Red Mount Min Ltd 0.008 -16% 0% -6% $13,960,093
CAI Calidus Resources 0.84 -16% 0% -1% $342,383,109
MRR Minrex Resources Ltd 0.058 -15% 9% -5% $61,531,646
RDT Red Dirt Metals Ltd 0.56 9% 1% -3% $174,371,295
A8G Australasian Metals 0.395 -18% 1% 4% $15,644,788
EFE Eastern Resources 0.033 -28% -13% -3% $33,810,845
MQR Marquee Resource Ltd 0.105 -19% 5% 0% $32,754,591
SRZ Stellar Resources 0.021 -28% -9% 0% $17,625,355
LSR Lodestar Minerals 0.0105 -25% 5% 5% $17,384,373
NWM Norwest Minerals 0.043 -22% -7% 2% $7,585,510
AOA Ausmon Resorces 0.008 -27% 0% 0% $6,858,315
VKA Viking Mines Ltd 0.009 -18% 13% 0% $9,227,326
IPT Impact Minerals 0.011 -8% 10% 10% $21,904,616
SRI Sipa Resources Ltd 0.037 -24% -5% 0% $7,585,918
VMC Venus Metals Cor Ltd 0.2 5% 18% 5% $28,704,950
RGL Riversgold 0.042 -45% -11% 0% $24,000,736
ZNC Zenith Minerals Ltd 0.42 -2% 17% 9% $132,403,100
RAS Ragusa Minerals Ltd 0.17 91% 70% -11% $23,874,988
G88 Golden Mile Res Ltd 0.053 -18% -4% 0% $10,797,829
EPM Eclipse Metals 0.027 -16% 4% 4% $49,949,287
EVR Ev Resources Ltd 0.043 -22% -2% 0% $39,817,315
WC8 Wildcat Resources 0.036 -10% 16% 6% $21,939,273
MNS Magnis Energy Tech 0.4125 -8% 2% -4% $415,588,691
RIO Rio Tinto Limited 114.6 2% 5% 1% $42,244,405,153
THR Thor Mining PLC 0.0135 -10% 4% -4% $14,811,180
CZL Cons Zinc Ltd 0.023 -15% -4% 0% $8,081,230
MXR Maximus Resources 0.066 -33% -7% 0% $20,981,781
DRE Dreadnought Resources Ltd 0.043 -2% 0% 0% $122,063,393
MM1 Midasmineralsltd 0.335 -3% 2% 0% $18,236,772
M2R Miramar 0.125 -31% 4% 4% $7,667,105
AOU Auroch Minerals Ltd 0.091 -17% 5% 2% $32,155,860
XTC Xantippe Res Ltd 0.011 -21% 0% 10% $76,830,569
MMG Monger Gold Ltd 0.32 14% 3% 7% $7,500,000
LRD Lordresourceslimited 0.295 -22% -11% -2% $9,235,386
WMC Wiluna Mining Corp 0.48251 -24% 0% 0% $101,961,574
AUN Aurumin 0.18 -14% 3% -3% $20,206,302
ZEO Zeotech Limited 0.057 -10% 12% 4% $83,870,351
ALY Alchemy Resource Ltd 0.025 -34% -7% 4% $22,873,777
LIS Lisenergylimited 0.645 1% 3% 2% $104,525,938
GW1 Greenwing Resources 0.32 -28% 0% 2% $38,822,915
KTA Krakatoa Resources 0.078 -32% 4% 1% $26,542,664
TYX Tyranna Res Ltd 0.022 300% 144% 22% $27,582,492
DAF Discovery Alaska Ltd 0.088 151% 6% -7% $21,207,296
FTL Firetail Resources 0.33 -19% 3% 0% $20,388,225
IR1 Irismetals 0.38 -40% -40% 0% $19,228,000
LNR Lanthanein Resources 0.025 -26% -7% 4% $20,107,814
DAL Dalaroometalsltd 0.11 -29% -12% -8% $3,585,000
TKM Trek Metals Ltd 0.087 -1% 23% 2% $26,389,113
CY5 Cygnus Gold Limited 0.175 13% 21% 0% $20,647,430

Today, a total of 37 lithium stocks ended up in the green, 49 flat lined and 42 ended in the red.

 

Who’s got news out today?

Lithium Australia (ASX:LIT) 

LIT says it is about to enter a new phase in terms of its LFP cathode powder production, which it claims is the “most significant commercial opportunity” for the company.

To reposition the company for its next phase of development, Adrian Griffin will retire as managing director, but stay on as technical advisor.

Effective from today, the company says the timing of Griffin’s redeployment aligns with the commercialisation of its lithium ferro phosphate cathode powder production by its Batteries division.

An accelerated strategy is being deployed and realised through planned construction of a pre-qualification LFP pilot plant likely to be located in Queensland.

 

Argosy Minerals (ASX:AGY)

Around 83pc of total construction works at the company’s Rincon Lithium Project in Argentina have been completed for the development of the 2,000tpa lithium carbonate production.

The company says it remains on schedule to achieve first production of >99.5% battery quality lithium carbonate product during Q3 CY-2022, following completion of these works.

AGY managing director Jerko Zuvela has been at the site over the past two weeks and says, “We are getting close to completing construction works and progressing final stage commissioning.

“Argosy’s transformation into a cashflow generator is nearing, whilst also progressing toward the next stage 12,000tpa scale operations.

“The lithium market remains very positive and current lithium carbonate prices should see very robust product sales revenues.”

 

Firefinch (ASX:FFX) 

FFX’s spin off Leo Lithium has raised $100 million an IPO with more than 90% of the offer allocated to existing Firefinch shareholders.

Those investors who took up the offer will benefit twice from Firefinch’s $20 million allocation in the Leo IPO, which will leave Firefinch with a big investment in the future lithium producer.

FFX managing director Mike Anderson branded the closure of the IPO an important milestone for the company, with its 20% stake in Leo giving exposure to Goulamina while the company expands its Morila gold mine.

 

Critical Resources (ASX:CRR) 

Critical Resources has intersected “significant spodumene-bearing pegmatites” at its Mavis Lake Project in Canada in another six step-out holes following the drilling of another 21 holes.

The company said 2,500m has now been drilled as part of the inaugural 5,000m drill program.

CRR managing director Alex Biggs said new areas of mineralisation are being identified both along strike, at depth and in shallow intersections.

“The Company is focused on developing a JORC compliant Resource for Mavis Lake which requires both infill and extensional drilling.

“These results are crucial in achieving this goal and demonstrating continuity of mineralisation at the project.”

 

Zeotech (ASX:ZEO) 

Zeotech’s pilot program has achieved  a continuous closed-loop circuit, successfully producing pure Linde Type A manufactured zeolite using leached spodumene, a by-product of the battery-grade lithium production process.

While the circuit had previously produced zeolite using kaolin feedstock, its ability to do the same using leached spodumene validates the company’s proprietary flowsheet while opening up the available feedstock options, potentially offering lithium refiners a value-add circular solution for managing their process tailings.

ZEO says that it can now start project planning with The University of Queensland (UQ) and industry partner Covalent Lithium for The Trailblazer University Program.