Eye on Lithium: Tianqi's massive US$1.7b Hong Kong IPO 'could be leading indicator for turnaround' in lithium stocks

Tianqi Lithium raises US$1.7b in Hong Kong IPO, selling shares for HK$82 each
Critical Resources wraps up inaugural 5,000m drilling campaign at Mavis Lake
Piedmont Lithium has been added to the US Russell 2000 Index

All your ASX lithium news for Thursday, July 7.

Tianqi Lithium has raised around HK$13.5 billion (US$1.7 billion) in its Hong Kong IPO, reportedly selling 164.1 million shares at HK$82 apiece.

The share sale breaks a months-long drought for large offerings in Hong Kong, where funds raised between January and June fell more 90% from the previous year.

Notably, in its Shenzhen IPO back in 2010, the company raised 735 million yuan (US$110 million).

Narratives shift every 6-12 months.

Looks like China again becoming THE story & #Tianqi a leading indicator for turnaround in #ASX #TSX & #US-listed #lithium shares in coming months.

$1.7B Hong Kong IPO priced at *top* of HK$69-82 range.https://t.co/QULyNz7BP3

— Howard Klein (@LithiumIonBull) July 6, 2022

The lithium producer has operations in China and Chile, but also has a joint venture with IGO (ASX:IGO) in the Kwinana lithium refinery in WA, which is the first lithium refinery outside China – and delivered the first batch of battery-grade lithium hydroxide in May.

Producing lithium hydroxide in commercial quantities is kind of a big deal.

It’s a key component in electric vehicle high nickel battery cathode chemistry, delivering higher energy density and longer driving distances between charges.

The first train at the Kwinana Plant is ramping-up towards its nameplate capacity of 24,000 tonnes of battery grade lithium hydroxide per annum.

The aim is to recommence construction of Train 2 during 1H23 – with an $18m early works budget already committed.

Here’s how ASX lithium stocks were tracking today:

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Code	Company	Price	% Month	% Week	% Today	Market Cap
KZR	Kalamazoo Resources	0.22	-33%	22%	16%	$27,586,931.06
KAI	Kairos Minerals Ltd	0.023	-4%	15%	10%	$41,203,963.31
WCN	White Cliff Min Ltd	0.012	-37%	-8%	9%	$7,189,636.98
RMX	Red Mount Min Ltd	0.006	-25%	0%	9%	$9,033,001.22
IR1	Irismetals	0.255	-27%	2%	9%	$14,011,875.00
LIT	Lithium Australia	0.066	-21%	22%	8%	$63,159,968.83
ADV	Ardiden Ltd	0.0075	-25%	7%	7%	$18,678,347.49
G88	Golden Mile Res Ltd	0.031	-37%	11%	7%	$5,908,245.81
AOU	Auroch Minerals Ltd	0.064	-26%	19%	7%	$22,167,107.94
ZNC	Zenith Minerals Ltd	0.245	-34%	-14%	7%	$79,295,324.17
AAJ	Aruma Resources Ltd	0.067	-11%	12%	6%	$9,888,574.69
TEM	Tempest Minerals	0.088	83%	9%	6%	$41,895,592.61
EPM	Eclipse Metals	0.02	-20%	5%	5%	$36,501,401.85
CZL	Cons Zinc Ltd	0.02	-17%	18%	5%	$6,903,798.45
MMG	Monger Gold Ltd	0.215	-27%	-9%	5%	$8,208,200.00
ASN	Anson Resources Ltd	0.11	-27%	16%	5%	$107,930,795.18
DAF	Discovery Alaska Ltd	0.044	-14%	-12%	5%	$9,417,857.32
MTM	Mtmongerresources	0.12	-37%	-11%	4%	$4,313,653.80
MIN	Mineral Resources.	44.74	-25%	-9%	4%	$8,114,842,341.63
WC8	Wildcat Resources	0.025	-32%	-7%	4%	$15,486,545.45
CHR	Charger Metals	0.38	-21%	7%	4%	$11,892,077.78
AML	Aeon Metals Ltd.	0.026	-16%	24%	4%	$24,778,283.08
GSM	Golden State Mining	0.0405	-35%	1%	4%	$4,540,431.44
RIO	Rio Tinto Limited	96.73	-16%	-9%	4%	$34,660,457,901.18
BYH	Bryah Resources Ltd	0.029	-36%	-6%	4%	$6,333,800.90
EMS	Eastern Metals	0.15	-9%	25%	3%	$5,162,000.00
AKE	Allkem Limited	9.93	-15%	-6%	3%	$6,121,517,625.60
CXO	Core Lithium	0.9575	-20%	-3%	3%	$1,611,328,895.88
TON	Triton Min Ltd	0.0175	-33%	-3%	3%	$21,399,331.01
NMT	Neometals Ltd	0.935	-22%	4%	3%	$499,022,520.36
RAG	Ragnar Metals Ltd	0.038	-14%	-3%	3%	$14,029,840.89
IGO	IGO Limited	9.68	-18%	-4%	3%	$7,141,035,476.59
JRL	Jindalee Resources	2.91	-19%	1%	2%	$163,530,053.10
MLS	Metals Australia	0.049	-31%	2%	2%	$27,265,737.17
TUL	Tulla Resources	0.54	-13%	7%	2%	$84,914,942.16
GL1	Globallith	1.14	-26%	-5%	2%	$177,742,046.72
PSC	Prospect Res Ltd	0.985	2%	2%	2%	$448,391,678.14
ESS	Essential Metals Ltd	0.365	-24%	0%	1%	$88,735,473.00
LTR	Liontown Resources	0.9575	-22%	-15%	1%	$2,071,652,812.11
PNN	Power Minerals Ltd	0.42	-8%	0%	1%	$25,529,498.98
GLN	Galan Lithium Ltd	1.02	-22%	-5%	1%	$307,443,355.62
PLS	Pilbara Min Ltd	2.19	-10%	-5%	1%	$6,459,760,993.28
LEL	Lithenergy	0.68	-38%	1%	1%	$30,476,250.00
WES	Wesfarmers Limited	44.21	-7%	4%	0%	$50,059,046,684.30
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	$2,752,409,203.44
EMH	European Metals Hldg	0.665	-30%	-1%	0%	$79,708,805.89
INF	Infinity Lithium	0.11	-19%	-4%	0%	$45,651,437.26
INR	Ioneer Ltd	0.435	-13%	7%	0%	$912,254,508.00
LPD	Lepidico Ltd	0.027	-7%	8%	0%	$175,693,631.39
LPI	Lithium Pwr Int Ltd	0.43	-9%	10%	0%	$150,132,284.64
QPM	Queensland Pacific	0.13	-13%	13%	0%	$203,269,707.03
RLC	Reedy Lagoon Corp.	0.018	-18%	6%	0%	$10,033,684.42
TKL	Traka Resources	0.006	-25%	0%	0%	$4,132,647.37
BMM	Balkanminingandmin	0.18	-28%	9%	0%	$5,895,000.00
PAM	Pan Asia Metals	0.4	-26%	-9%	0%	$29,568,096.80
AX8	Accelerate Resources	0.027	-23%	-16%	0%	$7,113,390.27
AS2	Askarimetalslimited	0.245	-37%	-2%	0%	$10,190,596.15
DTM	Dart Mining NL	0.053	-20%	4%	0%	$7,168,788.48
IMI	Infinitymining	0.14	-7%	0%	0%	$8,050,000.00
MMC	Mitremining	0.13	-4%	8%	0%	$3,521,063.00
SHH	Shree Minerals Ltd	0.008	-11%	14%	0%	$9,907,895.14
TMB	Tambourahmetals	0.135	-37%	-7%	0%	$5,561,000.73
TSC	Twenty Seven Co. Ltd	0.003	0%	20%	0%	$7,982,441.72
WML	Woomera Mining Ltd	0.018	-23%	-10%	0%	$12,362,995.19
AZL	Arizona Lithium Ltd	0.087	-30%	4%	0%	$194,314,238.13
LRS	Latin Resources Ltd	0.07	-21%	8%	0%	$135,104,461.66
SCN	Scorpion Minerals	0.07	-20%	-1%	0%	$23,228,183.44
AZI	Altamin Limited	0.096	0%	1%	0%	$37,604,808.19
PGD	Peregrine Gold	0.36	-22%	-8%	0%	$13,783,200.84
AVW	Avira Resources Ltd	0.003	-33%	-14%	0%	$6,356,370.00
CAI	Calidus Resources	0.625	-25%	4%	0%	$254,194,348.75
MRR	Minrex Resources Ltd	0.034	-28%	-3%	0%	$36,044,996.67
EFE	Eastern Resources	0.025	-7%	19%	0%	$24,860,915.78
SRZ	Stellar Resources	0.017	-26%	6%	0%	$14,268,144.64
NWM	Norwest Minerals	0.025	-40%	-11%	0%	$4,515,184.68
AOA	Ausmon Resorces	0.006	-25%	20%	0%	$5,143,736.06
VKA	Viking Mines Ltd	0.007	-13%	17%	0%	$7,176,809.02
IPT	Impact Minerals	0.008	-11%	14%	0%	$19,850,964.45
VMC	Venus Metals Cor Ltd	0.17	-3%	6%	0%	$27,213,376.11
EVR	Ev Resources Ltd	0.029	-19%	7%	0%	$26,853,538.06
THR	Thor Mining PLC	0.01	-23%	11%	0%	$10,689,009.73
MXR	Maximus Resources	0.048	-26%	9%	0%	$15,259,476.86
MM1	Midasmineralsltd	0.2	-27%	8%	0%	$10,887,625.00
M2R	Miramar	0.092	-16%	8%	0%	$5,905,173.00
AUN	Aurumin	0.11	-35%	0%	0%	$12,014,557.72
ALY	Alchemy Resource Ltd	0.017	-26%	21%	0%	$16,202,258.97
KTA	Krakatoa Resources	0.048	-36%	4%	0%	$16,546,076.02
TYX	Tyranna Res Ltd	0.02	18%	43%	0%	$30,647,213.34
LNR	Lanthanein Resources	0.018	-10%	13%	0%	$15,080,860.26
DAL	Dalaroometalsltd	0.105	-5%	19%	0%	$3,136,875.00
TKM	Trek Metals Ltd	0.057	-34%	-7%	0%	$17,704,778.55
CY5	Cygnus Gold Limited	0.15	-12%	-3%	0%	$17,697,797.25
PLL	Piedmont Lithium Inc	0.52	-37%	-11%	-1%	$276,974,670.00
RAS	Ragusa Minerals Ltd	0.083	-28%	11%	-1%	$10,561,837.10
AGY	Argosy Minerals Ltd	0.32	-29%	-3%	-2%	$440,716,570.78
EUR	European Lithium Ltd	0.06	-14%	5%	-2%	$84,364,509.57
MNS	Magnis Energy Tech	0.3	-19%	2%	-2%	$294,778,025.35
SYA	Sayona Mining Ltd	0.1475	-13%	-8%	-2%	$1,237,012,900.50
DRE	Dreadnought Resources Ltd	0.045	15%	-8%	-2%	$130,579,443.35
GW1	Greenwing Resources	0.22	-20%	5%	-2%	$27,730,653.53
CRR	Critical Resources	0.043	-35%	-2%	-2%	$65,472,670.52
VUL	Vulcan Energy	5.39	-27%	-3%	-2%	$789,879,150.48
SRI	Sipa Resources Ltd	0.036	-8%	3%	-3%	$7,585,917.71
NVA	Nova Minerals Ltd	0.68	8%	9%	-3%	$126,141,599.50
LLL	Leolithiumlimited	0.47	0%	-14%	-3%	$478,528,602.32
QXR	Qx Resources Limited	0.031	-26%	15%	-3%	$27,499,594.27
ARN	Aldoro Resources	0.15	-27%	15%	-3%	$15,378,106.30
RGL	Riversgold	0.028	-30%	0%	-3%	$21,934,903.97
LKE	Lake Resources	0.69	-51%	-13%	-3%	$993,642,582.79
RDT	Red Dirt Metals Ltd	0.385	-20%	-4%	-4%	$121,821,770.40
FTL	Firetail Resources	0.24	-33%	-4%	-4%	$15,445,625.00
WMC	Wiluna Mining Corp	0.225	-53%	-6%	-4%	$85,102,132.73
ZEO	Zeotech Limited	0.045	-29%	-6%	-4%	$71,671,027.09
MQR	Marquee Resource Ltd	0.067	-33%	10%	-4%	$22,093,230.60
WR1	Winsome Resources	0.19	-49%	-10%	-5%	$27,022,798.80
1MC	Morella Corporation	0.018	-22%	6%	-5%	$98,348,065.73
GT1	Greentechnology	0.5	-45%	-18%	-6%	$97,662,910.79
STM	Sunstone Metals Ltd	0.045	-8%	7%	-6%	$123,573,428.06
XTC	Xantippe Res Ltd	0.0075	-25%	7%	-6%	$63,569,188.51
A8G	Australasian Metals	0.21	-42%	17%	-7%	$9,263,361.15
KGD	Kula Gold Limited	0.027	-13%	42%	-7%	$6,240,093.33
FG1	Flynngold	0.13	0%	37%	-7%	$8,968,547.00
BNR	Bulletin Res Ltd	0.115	-28%	10%	-8%	$36,573,887.50
LRV	Larvottoresources	0.215	-31%	-12%	-9%	$9,760,137.50
LRD	Lordresourceslimited	0.205	-20%	-5%	-9%	$7,151,539.73
ENT	Enterprise Metals	0.01	-29%	11%	-9%	$7,091,115.41
LIS	Lisenergylimited	0.51	-2%	9%	-10%	$93,741,515.66
FRS	Forrestaniaresources	0.16	-14%	33%	-11%	$5,271,534.72
AM7	Arcadia Minerals	0.14	-36%	-18%	-13%	$7,471,662.72
LSR	Lodestar Minerals	0.0065	-19%	8%	-19%	$13,907,498.78

A total of 43 stocks were in the green today, 49 were flat and 38 were in the red.

Who’s got news out today?

CRITICAL RESOURCES (ASX:CRR)

The company has wrapped up its inaugural 5,000m drilling program at the Mavis Lake project in Canada, with another five step-out holes intersecting spodumene-bearing pegmatite.

A total of 35 out of 37 drill holes have now intersected spodumene-bearing pegmatite mineralisation, which MD Alex Biggs said was a fantastic result and “proves the significance of the Mavis Lake Pegmatite field.”

“Importantly the company has now received the necessary approvals to extend drilling by an additional 5,000m,” he said.

The company remains focussed on defining a JORC resource at Mavis Lake.

PIEDMONT LITHIUM (ASX:PLL)

PLL has been added to the US Russell 2000 Index – a small-cap stock market index that makes up the smallest 2,000 stocks in the Russell 3000 Index.

The company was also added to the Russell Microcap Index as part of the 2022 Russell indexes reconstitution – which captures the 4,000 largest US stocks as of May 6, ranking them by total market capitalisation.

“One of the objectives of our redomiciling in 2021 was to qualify for important stock indices that require U.S. domiciliation,” CEO Keith Phillips said.

“Piedmont shares are now held by many index funds, including those managed by State Street, Vanguard, Blackrock, and others, and we hope that these long-term holders will support our shareholder value creation objectives in the longer-run.”

Membership in the Russell 2000 Index, which remains in place for one year, is based on membership in the broad-market Russell 3000 Index.