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Eye on Lithium: This Africa-focused developer is well on its way to help diversify lithium supply
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- Shares in Patriot Lithium soar on new board appointments
- Lithium Plus Minerals discovers a second shallow at the Lei prospect
- Operational works at Argosy’s Rincon project are now 98% complete
All your lithium news, Wednesday February 1.
African project developer Atlantic Lithium (ASX:A11) is up 22.41% on its IPO price of 58c per share since listing back in September 21. Backed by US-Australian lithium developer Piedmont (ASX:PLL), the company is developing Ghana’s largest spodumene resource, Ewoyaa.
Today, the company has released a mineral resource upgrade for Ewoyaa of 35.5Mt at 1.25% Li2O, including 28Mt in the Measured and Indicated categories – the highest level of geological knowledge and confidence.
Around 79% of the overall mineral resource estimate now sits in the higher confidence categories, with 3.5Mt at 1.37% Li2O in the Measured category and 24.5Mt at 1.25% Li2O in the Indicated category.
A definitive feasibility study, focused on evaluating the extended mine life, is scheduled for release Q2, 2023.
“Our goal was to convert the Inferred to Indicated category, define the first 1 to 2 years of planned production to Measured category and increase the overall Resource scale,” A11 interim CEO Lennard Kolff says.
“We have comfortably achieved all our goals.
“In terms of capital intensity and lower operating costs, we are on course to deliver one of the world’s most efficient hard rock lithium projects.”
NOW READ: Which lithium explorers are ready to bowl a maiden this year on the ASX?
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| CMD | Cassius Mining Ltd | 0.03 | 20% | $10,212,323 |
| PAT | Patriot Lithium | 0.425 | 16% | $21,156,313 |
| GSM | Golden State Mining | 0.048 | 14% | $4,914,597 |
| LSR | Lodestar Minerals | 0.0045 | 13% | $6,953,749 |
| CTN | Catalina Resources | 0.011 | 10% | $12,384,869 |
| FRS | Forrestaniaresources | 0.18 | 9% | $10,047,065 |
| VKA | Viking Mines Ltd | 0.012 | 9% | $11,277,843 |
| CHR | Charger Metals | 0.38 | 9% | $15,300,029 |
| JRL | Jindalee Resources | 2.26 | 8% | $119,922,039 |
| SRZ | Stellar Resources | 0.014 | 8% | $13,060,202 |
| DAF | Discovery Alaska Ltd | 0.029 | 7% | $6,054,337 |
| FG1 | Flynngold | 0.105 | 7% | $7,675,707 |
| RAG | Ragnar Metals Ltd | 0.015 | 7% | $5,308,588 |
| BNR | Bulletin Res Ltd | 0.105 | 5% | $29,359,110 |
| IPT | Impact Minerals | 0.0105 | 5% | $24,813,706 |
| KAI | Kairos Minerals Ltd | 0.022 | 5% | $41,245,963 |
| AGY | Argosy Minerals Ltd | 0.665 | 5% | $891,798,761 |
| PLL | Piedmont Lithium Inc | 0.9525 | 5% | $385,348,600 |
| LRS | Latin Resources Ltd | 0.115 | 5% | $242,182,041 |
| RDT | Red Dirt Metals Ltd | 0.495 | 4% | $211,331,058 |
| PAM | Pan Asia Metals | 0.395 | 4% | $55,805,124 |
| MLS | Metals Australia | 0.053 | 4% | $30,958,846 |
| TEM | Tempest Minerals | 0.027 | 4% | $13,123,921 |
| CRR | Critical Resources | 0.056 | 4% | $85,877,961 |
| 1MC | Morella Corporation | 0.0145 | 4% | $85,380,126 |
| AZL | Arizona Lithium Ltd | 0.0735 | 4% | $173,417,829 |
| LPD | Lepidico Ltd | 0.0155 | 3% | $114,566,576 |
| EMC | Everest Metals Corp | 0.099 | 3% | $10,217,578 |
| MQR | Marquee Resource Ltd | 0.036 | 3% | $11,452,263 |
| LRD | Lordresourceslimited | 0.195 | 3% | $6,325,503 |
| AZI | Altamin Limited | 0.079 | 3% | $30,162,190 |
| RAS | Ragusa Minerals Ltd | 0.1025 | 3% | $14,259,879 |
| AAJ | Aruma Resources Ltd | 0.083 | 2% | $12,713,882 |
| MNS | Magnis Energy Tech | 0.42 | 2% | $397,835,908 |
| LPI | Lithium Pwr Int Ltd | 0.445 | 2% | $273,657,439 |
| A11 | Atlantic Lithium | 0.705 | 2% | $417,961,745 |
| QXR | Qx Resources Limited | 0.049 | 2% | $43,049,391 |
| GW1 | Greenwing Resources | 0.305 | 2% | $44,417,660 |
| AUN | Aurumin | 0.062 | 2% | $10,843,536 |
| AOU | Auroch Minerals Ltd | 0.065 | 2% | $27,382,089 |
| IGO | IGO Limited | 14.795 | 2% | $11,033,392,035 |
| RIO | Rio Tinto Limited | 128.56 | 2% | $47,010,821,341 |
| MRR | Minrex Resources Ltd | 0.0375 | 1% | $40,140,098 |
| LRV | Larvottoresources | 0.19 | 1% | $12,610,260 |
| SGQ | St George Min Ltd | 0.076 | 1% | $62,601,760 |
| AKE | Allkem Limited | 13.145 | 1% | $8,276,801,956 |
| MIN | Mineral Resources. | 90.07 | 1% | $16,879,059,882 |
| CY5 | Cygnus Gold Limited | 0.505 | 1% | $91,937,106 |
| NMT | Neometals Ltd | 0.8525 | 1% | $467,066,294 |
| VUL | Vulcan Energy | 7.18 | 1% | $1,022,693,696 |
| INR | Ioneer Ltd | 0.4325 | 1% | $902,285,455 |
| PLS | Pilbara Min Ltd | 4.775 | 1% | $14,240,355,078 |
| WES | Wesfarmers Limited | 49.675 | 0% | $56,302,724,100 |
| AML | Aeon Metals Ltd. | 0.03 | 0% | $32,892,019 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| ESS | Essential Metals Ltd | 0.53 | 0% | $141,810,348 |
| INF | Infinity Lithium | 0.135 | 0% | $62,449,933 |
| PSC | Prospect Res Ltd | 0.115 | 0% | $53,159,838 |
| RLC | Reedy Lagoon Corp. | 0.01 | 0% | $5,667,196 |
| SYA | Sayona Mining Ltd | 0.26 | 0% | $2,258,551,123 |
| TKL | Traka Resources | 0.008 | 0% | $5,782,196 |
| BMM | Balkanminingandmin | 0.38 | 0% | $17,013,365 |
| AX8 | Accelerate Resources | 0.028 | 0% | $10,572,849 |
| AM7 | Arcadia Minerals | 0.23 | 0% | $10,740,515 |
| BYH | Bryah Resources Ltd | 0.024 | 0% | $6,750,083 |
| DTM | Dart Mining NL | 0.055 | 0% | $8,559,131 |
| EMS | Eastern Metals | 0.085 | 0% | $3,320,475 |
| MMC | Mitremining | 0.28 | 0% | $7,583,828 |
| TMB | Tambourahmetals | 0.105 | 0% | $4,325,223 |
| WML | Woomera Mining Ltd | 0.017 | 0% | $16,254,741 |
| WR1 | Winsome Resources | 2.33 | 0% | $327,812,409 |
| MTM | Mtmongerresources | 0.08 | 0% | $4,561,938 |
| ENT | Enterprise Metals | 0.01 | 0% | $7,050,807 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| NVA | Nova Minerals Ltd | 0.685 | 0% | $143,887,080 |
| RMX | Red Mount Min Ltd | 0.006 | 0% | $11,930,093 |
| CAI | Calidus Resources | 0.275 | 0% | $120,786,922 |
| A8G | Australasian Metals | 0.19 | 0% | $7,822,394 |
| EFE | Eastern Resources | 0.017 | 0% | $19,980,544 |
| AOA | Ausmon Resorces | 0.006 | 0% | $5,143,736 |
| SRI | Sipa Resources Ltd | 0.032 | 0% | $7,301,060 |
| G88 | Golden Mile Res Ltd | 0.023 | 0% | $4,705,564 |
| EVR | Ev Resources Ltd | 0.015 | 0% | $13,934,761 |
| WC8 | Wildcat Resources | 0.029 | 0% | $19,198,659 |
| THR | Thor Energy PLC | 0.006 | 0% | $8,731,877 |
| CZL | Cons Zinc Ltd | 0.018 | 0% | $8,682,441 |
| MM1 | Midasmineralsltd | 0.15 | 0% | $8,569,765 |
| M2R | Miramar | 0.084 | 0% | $5,937,266 |
| LLI | Loyal Lithium Ltd | 0.5 | 0% | $26,245,000 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ALY | Alchemy Resource Ltd | 0.017 | 0% | $20,027,296 |
| LIS | Lisenergylimited | 0.37 | 0% | $61,388,249 |
| KTA | Krakatoa Resources | 0.043 | 0% | $14,822,526 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| DAL | Dalaroometalsltd | 0.092 | 0% | $2,748,500 |
| OCN | Oceanalithiumlimited | 0.365 | 0% | $13,291,110 |
| VSR | Voltaic Strategic | 0.024 | 0% | $7,354,336 |
| GLN | Galan Lithium Ltd | 1.16 | 0% | $355,913,797 |
| LEL | Lithenergy | 0.83 | -1% | $50,225,250 |
| EMH | European Metals Hldg | 0.695 | -1% | $88,085,560 |
| EUR | European Lithium Ltd | 0.079 | -1% | $115,939,134 |
| GL1 | Globallith | 2.25 | -1% | $486,035,024 |
| TUL | Tulla Resources | 0.365 | -1% | $78,753,927 |
| AS2 | Askarimetalslimited | 0.595 | -2% | $29,878,245 |
| FTL | Firetail Resources | 0.14 | -2% | $9,262,500 |
| LKE | Lake Resources | 0.8 | -2% | $1,135,026,495 |
| LTR | Liontown Resources | 1.54 | -2% | $3,448,403,500 |
| LLO | Lion One Metals Ltd | 0.99 | -2% | $11,682,982 |
| ZNC | Zenith Minerals Ltd | 0.24 | -2% | $86,167,981 |
| LIT | Lithium Australia | 0.047 | -2% | $58,617,200 |
| CXO | Core Lithium | 1.135 | -2% | $2,145,261,623 |
| GT1 | Greentechnology | 0.895 | -2% | $174,525,630 |
| DRE | Dreadnought Resources Ltd | 0.1075 | -2% | $339,870,104 |
| KZR | Kalamazoo Resources | 0.21 | -2% | $31,996,165 |
| MXR | Maximus Resources | 0.041 | -2% | $13,400,342 |
| LLL | Leolithiumlimited | 0.595 | -2% | $601,860,716 |
| ZEO | Zeotech Limited | 0.038 | -3% | $63,987,521 |
| STM | Sunstone Metals Ltd | 0.037 | -3% | $99,576,964 |
| PGD | Peregrine Gold | 0.505 | -3% | $20,150,982 |
| RGL | Riversgold | 0.03 | -3% | $29,309,499 |
| KGD | Kula Gold Limited | 0.027 | -4% | $10,113,934 |
| PNN | Power Minerals Ltd | 0.495 | -4% | $37,206,084 |
| QPM | Queensland Pacific | 0.105 | -5% | $192,098,271 |
| TYX | Tyranna Res Ltd | 0.021 | -5% | $52,919,357 |
| SCN | Scorpion Minerals | 0.081 | -5% | $29,385,026 |
| LNR | Lanthanein Resources | 0.02 | -5% | $20,613,087 |
| TKM | Trek Metals Ltd | 0.075 | -5% | $28,751,662 |
| TON | Triton Min Ltd | 0.036 | -5% | $52,545,799 |
| ARN | Aldoro Resources | 0.24 | -6% | $28,792,641 |
| ADV | Ardiden Ltd | 0.0075 | -6% | $21,506,683 |
| VMC | Venus Metals Cor Ltd | 0.145 | -6% | $27,602,196 |
| WCN | White Cliff Min Ltd | 0.012 | -8% | $10,192,707 |
| NWM | Norwest Minerals | 0.058 | -8% | $13,992,765 |
| ASN | Anson Resources Ltd | 0.275 | -8% | $353,476,477 |
| XTC | Xantippe Res Ltd | 0.0055 | -8% | $61,752,208 |
| EPM | Eclipse Metals | 0.02 | -9% | $44,617,315 |
| IMI | Infinitymining | 0.22 | -14% | $19,501,971 |
A total of 52 lithium stocks finished in the green, another 46 fell flat and 39 tumbled into the red.
Who’s got news out?
PATRIOT LITHIUM (ASX:PAT)
Shares in hard-rock lithium play Patriot Lithium are up 15% after revealing new appointments to its board and management team.
Former Covalent Lithium senior executive Nick Vickery has been appointed to the role of CEO and MD, effective from March, while Joseph Evensen and Ralph Porter have been selected as consultant geologists.
“The Patriot team are extremely excited by the appointment of Nick…he has an outstanding corporate skill set, level of professionalism, focus and desire to build what we believe will be a leading North American lithium company,” PAT chairman Phil Thick says.
“The addition of Joey Evenson and Ralphe Porter to support our technical director, Oli Kreuzer and our US based COO, Dave Johnson, gives Patriot a world class technical team with exceptional lithium experience across the supply chain.”
LITHIUM PLUS MINERALS (ASX:LPM)
A second shallow pegmatite has been discovered at the Lei prospect during a phase 2 diamond drilling program, further unlocking the potential for Lei to evolve into a multi-system regional discovery.
High-grade spodumene was returned in all three holes with results including 212.2m at 1.74% Li2O from 398.8m, 14.7m at 1.19% Li2O from 216.8m, and 11m at 0.78% Li2O from 215m.
Meanwhile, the confirmation of spodumene bearing pegmatites at the Perseverance prospect has been described by the company as “highly encouraging”.
“It further validates our belief that the fertile pegmatite-bearing fairway traversing Core Lithium’s Grant’s prospect continues through to several pegmatite occurrences on our tenure,” LPM executive chairman Bin Guo says.
“Given these targets are yet to be drilled tested at depth, Perseverance is shaping up as an attractive exploration opportunity which we plan to aggressively pursue, along with other northern targets, during the upcoming field season”.
ARGOSY MINERALS (ASX:AGY)
Operational development works at the Rincon lithium project are now 98% complete with the overall commissioning phase having reached 91% completion.
During this time, the company has produced battery quality 99.76% lithium carbonate product (during single-run process works), as it moves towards starting lithium carbonate production operations.
Argosy hopes to achieve the full systems ramp-up phase and steady state production operations by the end of Q2, 2023.
NIMY RESOURCES (ASX:NIM)
Soil sample assays collected at the South Lake prospect, within the wider Mons project in Western Australia’s Yilgarn Craton, have been received with results returning a +60ppm lithium anomaly.
Nimy says several exploration companies have adopted this mark as a significant soil anomaly threshold based on Kidman Resources’ (ASX:KDR) large and high-grade Earl Grey lithium deposit that was defined by a discrete +60ppm lithium soil anomaly.
The company considers this to be a suitable high grade lithium anomaly threshold given that the Mons Project is north along strike from the Earl Grey deposit within the Forrestania Greenstone Belt.
RED MOUNTAIN (ASX:RMX)
Results from 18 samples collected along uplifted claystone ridges within the hydrologically closed Monte Cristo Valley at Red Mountain’s Mustan project are especially encouraging given the very limited historical exploration work in the area.
The company noted that eight of the 18 samples returned assays over 500ppm lithium, which are not only highly anomalous given the small sample size but also in line with the typical resource cutoff grade of about 500ppm lithium for claystone lithium in the Clayton Valley and Big Smoky Valley.
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