Eye on Lithium: This European battery manufacturer is one step closer to reaching its gigafactory dreams

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• Enterprise Metals completes stage-1 exploration at the Bullfinch North Project
• Liontown up 4% after releasing 2022 ESG Report
• Charger Metals receives approvals to proceed with drilling at the Medcalf spodumene prospect

All your lithium news, Monday November 21.

InoBat, a European EV battery research and development firm based in Bratislava, has signed protocols and declarations of intent with the Government of Serbia for the construction of a gigafactory focused on the manufacturing and recycling of EVs and stationary energy storage.

The company counts Rio Tinto (ASX:RIO) as one of its investors. The mining giant had its exploration licenses stripped by the government amid protests against its proposed $2.4bn Jadar lithium project back in January.

If the declaration of intent is finalised, relevant Serbian authorities will work with InoBat to secure all the permits and licenses required for the construction and operation of the gigafactory.

It is expected the Serbian government will provide financial and material support to ensure the successful development of the facility, with InoBat already having established its Serbian subsidiary, InoBat Auto Beograd.

“This is an important milestone for Serbia in positioning our country as a great contributor to sustainable and green future and among leading European players in this highly innovative and ground-breaking strategic industrial sector,” Prime Minister of the Serbian government Ana Brnabic says.

“The InoBat investment is more proof of our efforts to ensure that Serbia is developing in line with the newest technological and industrial trends and that our country is a top investment destination.”

This development progresses InoBat’s wider goal of establishing a global network of gigafactories based on its “cradle-to-cradle” circular value chain, which integrates chemistry research, cell development, battery production and material recycling in one location.

Here’s how ASX lithium stocks are tracking:

40 lithium companies gained, 41 were flat and 52 fell.

Who’s got news out?

ENTERPRISE METALS (ASX:ENT)

ENT has completed stage-1 lithium exploration at the Bullfinch North Project in WA where a total of 235 soil samples were collected.

Significant lithium anomalism is evident – peaking at 117 ppm Li- with multiple targets identified including a +60ppm Li anomaly.

Based on research and exploration, Enterprise considers that a +60ppm Li anomaly in shallow soil samples is highly significant.

For example, Kidman Resources’ (KDR) large and high grade Earl Grey lithium deposit was defined by a discrete +60ppm Li soil anomaly, it says.

Follow up sampling will begin as soon as possible to define targets for future drill testing.

LIONTOWN (ASX:LTR)

LTR is up 4% on the release of its 2022 ESG Report detailing a decarbonisation pathway for the soon-to-be developed Kathleen Valley Mine, where it is targeting net-zero emissions by 2034.

As well as outlining its ESG strategy going forward, which includes making significant efforts via contracting processes to ensure that at least 60pc of start-up energy requirements comes from renewable energy sources, LTR describes its view on lithium supply and demand.

Defining the past 12 months as a ‘breakthrough year’ for the lithium sector, the company believes demand will continue to grow significantly out to 2030 and beyond, requiring a substantial investment in new sources of supply.

“The projected market shortfall is anticipated to increase dramatically through 2030,” the company says.

“It is very common for a greenfields project to take many years before the new supply enters first production as projects’ globally face permitting, funding and delivery challenges.”

CHARGER METALS (ASX:CHR)

Charger has received final environmental approvals to proceed with drilling at the Medcalf spodumene prospect within the broader Lake Johnston Project.

The company has also increased its land position in an area considered prospective for lithium after acquiring E63/1883 – around 1.5km west of Medcalf – increasing Charger’s land position by 33km2.

Areas of the tenement fall within the interpreted ‘goldilocks zone’ considered by some geologists to have enhanced prospectivity for LCT pegmatites.

GOLD MOUNTAIN (ASX:GMN)

Gold Mountain has exercised its option to acquire an initial 20% interest in four Brazilian lithium projects held by Mars Mines Limited and can earn an additional 55% interest in the projects through an expenditure commitment of $2.75m over the next two years.

The four project areas are Juremal, Custodia, Cerro Cora and Porta D’Agua, and Jacurici with three of the four having been assessed with LCT bearing pegmatites identified on the Juremal, Custodia and the Cerro Cora / Porta D’Agua projects.

The Jacurici Project area is yet to be explored.

Given that no modern exploration has been undertaken on the Mars Mines tenements, GMN believes the fact that LCT pegmatites have been identified in the field and confirmed by anomalous rock chip values is of significance and highlights the potential of these tenements to host lithium bearing pegmatites.

RAGUSA MINERALS (ASX:RAS)

Ragusa recently completed its first phase exploration drilling program at the NT Lithium Project in the Litchfield Pegmatite Belt in Northern Territory, roughly 120km south of Darwin.

The completion of the initial exploration program is another positive step that puts Ragusa in a strong position to rapidly accelerate the development of our project within a proven high-quality lithium district in a tier 1 jurisdiction close to major infrastructure at a time of record lithium prices.”

ENT, LTR, CHR,GMN, RAS share price today

TAMBOURAH METALS (ASX:TMB)

Analysis of a multi-client airborne hyperspectral data set at the Russian Jack lithium project has shown a significant number of features consistent with pegmatites that have been mapped in the field by TMB’s geologists.

This information will be evaluated together with other maps and the exploration data to determine new sampling targets.

ASKARI METALS (ASX:AS2)

A 3,500m inaugural RC exploration drilling campaign has kicked off on the Uis Lithium Project located in Namibia, Africa targeting spodumene hosted lithium mineralisation identified at surface.

This initial phase of RC drilling is part of an overall 10,000m RC drilling campaign which will be completed over three phases.

High-grade spodumene hosted lithium mineralisation up to 3.1% Li2O has been sampled at surface at the Uis Project, which has never been drill tested.

TMB, AS2 share price today

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