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Eye on Lithium: The world’s biggest EV market could accelerate as China eases COVID restrictions, experts say
Mining
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- Leo Lithium executes port services agreement for export of spodumene concentrate
- Winsome Resources raises A$6.8mn
- Midas Minerals receives assays from initial scout drilling at Newington
All your lithium, Tuesday November 15.
VP Capital co-founder John So says EV demand will rocket over the next six months as China relaxes its hardline COVID-19 Zero Policy which has put cities under full or partial lock downs.
“The current electric vehicle market demand for lithium that is most principally driving these high spot prices is off the back of a half functioning Chinese economy that is not in full operational mode,” So says.
“But we are now seeing these rules relax, China is reducing quarantine rules for international arrivals, and I think over the next six months we are going to see the biggest electric vehicle market, which is China, open-up and to the extent the economy is nowhere near as bad what people expect– the electric vehicle demand is going to be even higher than expected,” he says.
“Right now the demand we are seeing is with a handicap China and a lot of that hasn’t been taken into account.”
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| NWM | Norwest Minerals | 0.066 | 16% | $12,660,121 |
| WR1 | Winsome Resources | 0.92 | 10% | $113,495,755 |
| CZL | Cons Zinc Ltd | 0.023 | 10% | $9,721,350 |
| TEM | Tempest Minerals | 0.028 | 8% | $13,123,921 |
| PSC | Prospect Res Ltd | 0.1075 | 8% | $46,225,946 |
| WML | Woomera Mining Ltd | 0.015 | 7% | $10,961,817 |
| XTC | Xantippe Res Ltd | 0.0075 | 7% | $57,016,609 |
| BMM | Balkanminingandmin | 0.32 | 7% | $12,903,227 |
| ZEO | Zeotech Limited | 0.038 | 6% | $58,123,183 |
| EVR | Ev Resources Ltd | 0.022 | 5% | $19,445,665 |
| EFE | Eastern Resources | 0.045 | 5% | $48,210,352 |
| LRD | Lordresourceslimited | 0.26 | 4% | $8,321,155 |
| TON | Triton Min Ltd | 0.027 | 4% | $35,952,389 |
| AGY | Argosy Minerals Ltd | 0.7 | 4% | $947,975,061 |
| VMC | Venus Metals Cor Ltd | 0.14 | 4% | $24,040,622 |
| WC8 | Wildcat Resources | 0.028 | 4% | $17,597,864 |
| KTA | Krakatoa Resources | 0.061 | 3% | $20,337,885 |
| TYX | Tyranna Res Ltd | 0.035 | 3% | $81,784,461 |
| ARN | Aldoro Resources | 0.385 | 3% | $41,845,244 |
| GW1 | Greenwing Resources | 0.385 | 3% | $47,327,049 |
| FRS | Forrestaniaresources | 0.205 | 3% | $10,083,964 |
| RGL | Riversgold | 0.042 | 2% | $31,828,343 |
| PGD | Peregrine Gold | 0.47 | 2% | $17,825,869 |
| MTM | Mtmongerresources | 0.1 | 2% | $3,675,983 |
| IMI | Infinitymining | 0.28 | 2% | $17,357,656 |
| LIS | Lisenergylimited | 0.395 | 1% | $64,706,533 |
| RIO | Rio Tinto Limited | 106.345 | 0% | $39,348,918,684 |
| ADV | Ardiden Ltd | 0.01 | 0% | $26,683,354 |
| 1MC | Morella Corporation | 0.018 | 0% | $104,428,004 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| LIT | Lithium Australia | 0.049 | 0% | $59,838,392 |
| RLC | Reedy Lagoon Corp. | 0.011 | 0% | $6,131,696 |
| TKL | Traka Resources | 0.006 | 0% | $4,132,647 |
| AX8 | Accelerate Resources | 0.029 | 0% | $7,843,308 |
| BYH | Bryah Resources Ltd | 0.025 | 0% | $7,031,337 |
| FG1 | Flynngold | 0.11 | 0% | $7,046,716 |
| GSM | Golden State Mining | 0.046 | 0% | $5,382,653 |
| MMC | Mitremining | 0.18 | 0% | $4,875,318 |
| SHH | Shree Minerals Ltd | 0.009 | 0% | $11,146,382 |
| TSC | Twenty Seven Co. Ltd | 0.0015 | 0% | $7,982,442 |
| WCN | White Cliff Min Ltd | 0.018 | 0% | $13,456,861 |
| KGD | Kula Gold Limited | 0.043 | 0% | $15,532,113 |
| KZR | Kalamazoo Resources | 0.255 | 0% | $37,948,940 |
| SCN | Scorpion Minerals | 0.07 | 0% | $23,359,433 |
| AZI | Altamin Limited | 0.09 | 0% | $35,254,508 |
| ENT | Enterprise Metals | 0.009 | 0% | $5,876,826 |
| STM | Sunstone Metals Ltd | 0.03 | 0% | $78,493,393 |
| AVW | Avira Resources Ltd | 0.0035 | 0% | $7,468,265 |
| BNR | Bulletin Res Ltd | 0.14 | 0% | $40,962,754 |
| RMX | Red Mount Min Ltd | 0.005 | 0% | $8,211,819 |
| A8G | Australasian Metals | 0.24 | 0% | $9,880,919 |
| MQR | Marquee Resource Ltd | 0.056 | 0% | $17,786,584 |
| LSR | Lodestar Minerals | 0.005 | 0% | $8,692,187 |
| AOA | Ausmon Resorces | 0.006 | 0% | $5,143,736 |
| SRI | Sipa Resources Ltd | 0.045 | 0% | $9,226,116 |
| ZNC | Zenith Minerals Ltd | 0.285 | 0% | $98,257,250 |
| MXR | Maximus Resources | 0.043 | 0% | $13,712,948 |
| DRE | Dreadnought Resources Ltd | 0.1 | 0% | $307,371,155 |
| M2R | Miramar | 0.099 | 0% | $6,997,493 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| DAF | Discovery Alaska Ltd | 0.029 | 0% | $6,502,806 |
| CMD | Cassius Mining Ltd | 0.026 | 0% | $10,497,263 |
| WES | Wesfarmers Limited | 46.76 | 0% | $53,086,400,130 |
| QXR | Qx Resources Limited | 0.0605 | -1% | $53,793,602 |
| EUR | European Lithium Ltd | 0.094 | -1% | $137,677,722 |
| CAI | Calidus Resources | 0.405 | -1% | $179,490,499 |
| TUL | Tulla Resources | 0.4 | -1% | $81,240,058 |
| GLN | Galan Lithium Ltd | 1.63 | -2% | $504,063,153 |
| NMT | Neometals Ltd | 1.0875 | -2% | $610,778,999 |
| AOU | Auroch Minerals Ltd | 0.055 | -2% | $20,782,261 |
| VUL | Vulcan Energy | 7.73 | -2% | $1,129,482,172 |
| TKM | Trek Metals Ltd | 0.098 | -2% | $36,394,508 |
| ESS | Essential Metals Ltd | 0.465 | -2% | $120,351,695 |
| IR1 | Irismetals | 1.83 | -2% | $117,305,100 |
| LRS | Latin Resources Ltd | 0.1075 | -2% | $220,342,360 |
| INF | Infinity Lithium | 0.21 | -2% | $90,327,169 |
| AZL | Arizona Lithium Ltd | 0.08 | -2% | $197,613,896 |
| PAM | Pan Asia Metals | 0.39 | -3% | $58,742,236 |
| MLS | Metals Australia | 0.038 | -3% | $23,674,411 |
| LPD | Lepidico Ltd | 0.0185 | -3% | $145,117,653 |
| LRV | Larvottoresources | 0.18 | -3% | $9,232,518 |
| INR | Ioneer Ltd | 0.6125 | -3% | $1,321,953,108 |
| QPM | Queensland Pacific | 0.175 | -3% | $311,447,954 |
| NVA | Nova Minerals Ltd | 0.86 | -3% | $163,458,535 |
| LPI | Lithium Pwr Int Ltd | 0.565 | -3% | $228,852,659 |
| CRR | Critical Resources | 0.056 | -3% | $86,624,256 |
| ALY | Alchemy Resource Ltd | 0.028 | -3% | $34,019,211 |
| MNS | Magnis Energy Tech | 0.405 | -4% | $407,539,223 |
| DAL | Dalaroometalsltd | 0.13 | -4% | $4,033,125 |
| JRL | Jindalee Resources | 2.3 | -4% | $137,135,729 |
| ASN | Anson Resources Ltd | 0.255 | -4% | $311,611,911 |
| SRZ | Stellar Resources | 0.012 | -4% | $12,557,886 |
| G88 | Golden Mile Res Ltd | 0.023 | -4% | $4,910,154 |
| EMH | European Metals Hldg | 0.91 | -4% | $113,125,319 |
| MRR | Minrex Resources Ltd | 0.045 | -4% | $50,926,460 |
| PLL | Piedmont Lithium Inc | 0.9525 | -4% | $524,932,946 |
| LLL | Leolithiumlimited | 0.585 | -5% | $606,794,001 |
| LEL | Lithenergy | 1.05 | -5% | $66,465,750 |
| GL1 | Globallith | 2.29 | -5% | $489,837,334 |
| RAG | Ragnar Metals Ltd | 0.019 | -5% | $7,583,698 |
| EPM | Eclipse Metals | 0.019 | -5% | $40,485,137 |
| A11 | Atlantic Lithium | 0.855 | -5% | $545,167,494 |
| PNN | Power Minerals Ltd | 0.56 | -5% | $42,572,649 |
| MIN | Mineral Resources. | 79.95 | -5% | $16,002,274,896 |
| AAJ | Aruma Resources Ltd | 0.073 | -5% | $12,086,036 |
| LNR | Lanthanein Resources | 0.036 | -5% | $36,587,372 |
| FTL | Firetail Resources | 0.17 | -6% | $11,700,000 |
| OCN | Oceanalithiumlimited | 0.59 | -6% | $20,953,125 |
| RAS | Ragusa Minerals Ltd | 0.1975 | -6% | $27,765,811 |
| AML | Aeon Metals Ltd. | 0.03 | -6% | $34,989,785 |
| KAI | Kairos Minerals Ltd | 0.03 | -6% | $62,850,992 |
| AUN | Aurumin | 0.075 | -6% | $10,024,571 |
| GT1 | Greentechnology | 1.03 | -6% | $209,812,232 |
| AS2 | Askarimetalslimited | 0.42 | -7% | $22,202,605 |
| IPT | Impact Minerals | 0.007 | -7% | $18,610,279 |
| LTR | Liontown Resources | 2.05 | -7% | $4,832,157,770 |
| LKE | Lake Resources | 1.085 | -8% | $1,634,305,983 |
| SYA | Sayona Mining Ltd | 0.24 | -8% | $2,161,669,287 |
| EMS | Eastern Metals | 0.12 | -8% | $5,078,374 |
| RDT | Red Dirt Metals Ltd | 0.59 | -8% | $212,946,660 |
| IGO | IGO Limited | 15.245 | -8% | $12,555,500,340 |
| AM7 | Arcadia Minerals | 0.265 | -9% | $13,542,389 |
| CHR | Charger Metals | 0.61 | -9% | $29,216,043 |
| DTM | Dart Mining NL | 0.067 | -9% | $11,489,252 |
| PLS | Pilbara Min Ltd | 4.77 | -10% | $15,841,598,503 |
| THR | Thor Mining PLC | 0.009 | -10% | $11,028,835 |
| CY5 | Cygnus Gold Limited | 0.54 | -10% | $92,055,189 |
| LLI | Loyal Lithium Ltd | 0.61 | -10% | $31,783,200 |
| VKA | Viking Mines Ltd | 0.008 | -11% | $9,227,326 |
| AKE | Allkem Limited | 14.32 | -12% | $10,368,320,478 |
| TMB | Tambourahmetals | 0.175 | -13% | $8,238,520 |
| MM1 | Midasmineralsltd | 0.155 | -14% | $10,283,718 |
| CXO | Core Lithium | 1.595 | -14% | $3,423,005,284 |
Despite a broad based pullback on lithium stocks, especially the big ones, the smaller end of the market still saw several battlers making gains.
26 lithium companies finished in the green, 37 fell flat and 70 tumbled into the red zone.
Who’s got news out?
LEO LITHIUM (ASX:LLL)
Leo Lithium has executed an agreement for port services including product unloading, storage and ship loading spodumene concentrate product from the Goulamina Lithium Project at the Abidjan Port in West Africa.
The agreement between Lithium du Mali SA, a wholly owned subsidiary of Leo Lithium, and Terminal Vraquier Abidjan, secures storage for the Goulamina product at Abidjan Port for a period of 10 years.
Under the agreement, Leo Lithium has secured warehouses with a footprint of 9,000 sqm for product storage directly on the wharf of the Port of Abidjan.
The company’s initial assessments indicate this equates to around 60,000 tonnes of product storage.
The agreement stipulates a minimum product throughput of 250,000 tonnes per annum however there is no upper limit on quantities which can be exported.
WINSOME RESOURCES (ASX:WR1)
Winsome has raised $6.8m to advance its lithium projects at Cancet and Adina utilising the ‘flow through shares’ provisions under Canadian tax law.
The Flow-Through Shares will be placed at A$1.67 per share, representing a 98% premium to Winsome’s last close price.
Use of the flow-through provisions enables Winsome to significantly minimise the dilution of issued capital and increase the scope of ongoing exploration programs at Cancet and Adina.
MIDAS MINERALS (ASX:MM1)
Assays from initial scout drilling of pegmatites over an ~8km strike at Newington lithium-gold project in WA have been received.
Drilling results included 3m at 0.4% Li2O within 6m at 0.3% Li2O from 26m and 4m at 0.5% Li2O within 7m at 0.4% Li2O from 25m.
Midas completed 63 RC holes for 2,980m, with 54 holes intersecting pegmatites; 19 of which were moderately to highly fractionated.
This was particularly evident west of the Copperhead Shear, where nine holes were highly fractionated and six were moderately fractionated.
The company is planning more drilling to test these emerging areas of fractionated pegmatites at Newington, which is expected to commence as early as possible during the March quarter in 2023.
GLOBAL LITHIUM (ASX:GL1)
Resource expansion drilling program is continuing at the now 100% owned Manna Lithium Project, around 100km east of Kalgoorlie in Western Australia, GL1 says.
The RC rigs have completed 23,670 metres of drilling to date and are continuing to systematically drill out the Manna Deposit and collect sample data that will be used for the upgraded resource due in December.
GL1 says the second RC rig is specifically tasked to complete the infill drilling to allow a larger percentage of the deposit to be classified as indicated, a higher confidence category required for the upcoming feasibility studies.
Meanwhile, the diamond drilling campaign has completed its program of collecting sufficient core samples for a full metallurgical test program.
The core is being fast tracked through processing and assay to be available for sample selection and metallurgical testing beginning early 2023.
An expanded exploration program is also underway to map out the larger tenement area since acquiring 100% of the Manna Lithium Project.
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