• Monger picks up ‘Scotty’ lithium project in Nevada for $2m
  • Core nabs environmental approvals for BP33 underground mine
  • Metals Australia flags thick, high-grade results at ‘Manindi’ project in WA

 All your ASX lithium news for Tuesday, May 3


Campaign group Transport and Environment (T&E) reckons there should be enough raw materials to make 14 million electric vehicles (EVs) globally in 2023.

In a study based on BloombergNEF data on global maximum volumes of EV battery-grade nickel and lithium, T&E also said that in 2025 there would be enough to make 21 million EVs globally. If you exclude Russian nickel, there should be sufficient raw materials for 19 million EVs in 2025.

But competition for lithium and nickel is fierce right now, and T&E says Europe needs to up its game and establish an agency to ensure the supply of “sustainably sourced critical metals.”

“While China and the U.S. are flexing their policy muscle to secure supplies of critical metals, European leaders are scouring the globe for more oil,” T&E senior director Julia Poliscanova said.

“Now is the time to focus on sourcing the sustainable raw materials the continent needs for our energy independence and a green future.”

Global EV sales more than doubled to 4.2 million vehicles in 2021 from just over 2 million in 2020 and are predicted to potentially hit 9 million in 2023 and 14.2 million in 2025.

But some analysts have warned of short-term battery-supply bottlenecks as the auto industry rapidly accelerates production of zero-emission cars – which could then be followed by a glut as a plethora of mining and battery plant projects come online.


Here’s how ASX lithium stocks were tracking today:

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A total of 38 stocks were in the green today, with 20 flatlining and 59 in the red.


Who’s got news out today?


Torian Resources (ASX:TNR) spin-off MMG will acquire the large ‘Scotty’ sediment-hosted lithium project in Nevada for $2m.

This is a good neighbourhood. The 14,000-acre project surrounds the ‘Bonnie Claire’ project (host to one of North America’s largest lithium resources at 18.3Mt LCE), is 70km from Albermarle’s ‘Clayton Valley’ mine (the only producing lithium mine in the US), and 330km from Tesla’s Gigafactory.

Historical soil sampling returned grades of up to 300ppm lithium, representing similar grades to soil sampling over Clayton Valley. Scotty also likely covers identical geological sequences to those that host ‘Bonnie Claire’, MMG says.

A soil sampling program will kick off in June, to be followed by drilling in Q3.

“The electric revolution is just getting started, with increased demand for lithium to be a feature of the world’s economy for many years to come,” MMG chairman Peretz Schapiro says.

“Through development of the Scotty Lithium Project as well as continuing to seek out additional accretive acquisitions, MMG intends to become a significant player in the lithium market.”



The NT Minister for Environment has granted environmental approval for the company’s BP33 Underground Mine – the second mine approved at the company’s Finniss project with mining at the Grants open pit commencing last year.

Core will now submit a Mine Management Plan (MMP) to the Department of Industry, Tourism & Trade for assessment and says Mining Authorisation for the BP33 Underground Mine could be provided as soon as mid-2022.

Finniss mine activities are on schedule with first ore on ship expected at the end of calendar year 2022.



The explorer has flagged thick, high-grade results including 16m at 1.13% lithium and 0.31% rubidium from drilling at the Foundation LCT Pegmatite discovery at its Manindi project in WA.

“It’s early days but it looks like the company is onto a significant LCT pegmatite discovery at Manindi and we are well funded to be able to drill-out a substantial lithium resource at the project,” Chairman Mike Scivolo said.

Further, follow-up drilling is underway to extend the thick pegmatite intersections at depth and complete a 40m x 40m grid of pierce points to allow a maiden JORC 2012 resource to be estimated.



Nova holds a stake in NASDAQ-listed lithium explorer Snow Lake Resources (NASDAQ:LITM) and today welcomed the company’s first assay results from drilling in the northeast extension of its Thompson Brothers (TBL) spodumene pegmatite deposit in Canada.

Results included 1.49% LiO2 over 34.5m and 1.52% LiO2 over 18.0m located close to surface.

“We are very pleased by Snow Lake’s progress and performance, as they make great strides in advancing the Thompson Brothers Lithium Project, with further results now pending and all studies ongoing concurrently,” Nova CEO Christopher Gerteisen said.

“It is now evidently clear the scale of the project is growing significantly, and we see vast growth ahead as milestones are continually met.”

Snow Lake CEO Philip Gross said once all the results are available, the company will be able to update the resource accordingly.

However, like the rest of the mining industry, “we are suffering the frustration of a very busy mining season and the resulting laboratory backlog,” he said.



The company’s wholly owned subsidiary, Infinity Greentech, has made a significant strides in the development of its Greentech RPK lithium chemical conversion process after signing an agreement with Western Australia’s Murdoch University.

The first stage of the advanced test work under the agreement will build on prior bench scale test work results, which confirmed recoverability of lithium in solution from Run-Of-Mine (ROM) feedstock between 60% to 70% lithium from open-circuit direct processing without optimisation.

INFs Technical Advisory Committee (TAC) and Murdoch will initially focus on low-grade lithium bearing materials such as lithium micas, including lepidolite and lithium hectorite clays before moving to investigate the process on other lithium containing materials.

Eventually, the company plans to conduct test work using the GreenTech RPK process on spodumene bearing ores and concentrates once in-house R&D facilities are operational.

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