Pic: Getty Images
Mining
All your lithium news, Monday February 6.
The US Treasury Department is changing the definition of an ‘SUV’ to make more electric vehicles eligible for tax credits of up to US$7,500 – which means lithium demand could see another rise.
The move follows Tesla CEO Elon Musk criticising the former standards on Twitter as well automakers GM and Ford lobbying to change the guidelines.
The car on the left has a gas engine and gets 20 MPG. It has 21 miles of electric range. It gets a $7,500 EV Tax Credit.
The car on the right is ELECTRIC ONLY and gets 113 MPEe. It has 330 miles of range.
IT DOES NOT GET A $7,500 EV TAX CREDIT. pic.twitter.com/lqSXObCoUi
— Farzad Mesbahi (@farzyness) January 1, 2023
The Inflation Reduction Act includes a set of requirements around which EVs do and do not qualify for a $7,500 EV tax credit.
Initially, the federal tax credit had two different price caps – a car, sedan or wagon would qualify if priced at US$55,000 or below, while an SUV had an $80,000 price cap.
The revised standards allow higher priced vehicles to qualify for a maximum tax credit, which means a boost in the retail price cap for GM’s Cadillac Lyric, Tesla’s Model Y, and the Ford Mustang Mach-E from US$55,000 to $80,000.
“This change will allow crossover vehicles that share similar features to be treated consistently,” the Treasury Department said in a statement on Friday, February 3.
“It will also align vehicle classifications under the clean vehicle credit with the classification displayed on the vehicle label and on the consumer-facing website FuelEconomy.gov.”
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| VKA | Viking Mines Ltd | 0.013 | 8% | $12,303,101 |
| TYX | Tyranna Res Ltd | 0.026 | 8% | $57,730,208 |
| MM1 | Midasmineralsltd | 0.16 | 7% | $8,569,765 |
| BMM | Balkanminingandmin | 0.47 | 6% | $19,923,546 |
| TON | Triton Min Ltd | 0.042 | 5% | $55,311,367 |
| IPT | Impact Minerals | 0.011 | 5% | $26,054,391 |
| G88 | Golden Mile Res Ltd | 0.022 | 5% | $4,296,385 |
| EPM | Eclipse Metals | 0.022 | 5% | $42,589,256 |
| LNR | Lanthanein Resources | 0.022 | 5% | $20,613,087 |
| LIT | Lithium Australia | 0.049 | 4% | $57,396,009 |
| PSC | Prospect Res Ltd | 0.13 | 4% | $57,782,433 |
| EMS | Eastern Metals | 0.08 | 4% | $3,007,960 |
| TEM | Tempest Minerals | 0.027 | 4% | $13,123,921 |
| INF | Infinity Lithium | 0.145 | 4% | $64,762,893 |
| VMC | Venus Metals Cor Ltd | 0.15 | 3% | $25,821,409 |
| AS2 | Askarimetalslimited | 0.64 | 3% | $30,619,028 |
| AOU | Auroch Minerals Ltd | 0.064 | 3% | $26,526,398 |
| MQR | Marquee Resource Ltd | 0.034 | 3% | $10,797,848 |
| AM7 | Arcadia Minerals | 0.215 | 2% | $9,806,557 |
| ZNC | Zenith Minerals Ltd | 0.245 | 2% | $84,409,451 |
| PAM | Pan Asia Metals | 0.37 | 1% | $53,602,290 |
| MTM | Mtmongerresources | 0.078 | 1% | $4,390,865 |
| PAT | Patriot Lithium | 0.435 | 1% | $26,074,126 |
| LEL | Lithenergy | 0.925 | 1% | $55,037,250 |
| PLL | Piedmont Lithium Inc | 0.975 | 1% | $408,638,900 |
| RIO | Rio Tinto Limited | 124.01 | 1% | $45,637,321,349 |
| GT1 | Greentechnology | 0.885 | 1% | $167,849,786 |
| JRL | Jindalee Resources | 2.36 | 0% | $134,840,570 |
| 1MC | Morella Corporation | 0.014 | 0% | $85,380,126 |
| AML | Aeon Metals Ltd. | 0.028 | 0% | $30,699,217 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| EMH | European Metals Hldg | 0.68 | 0% | $85,678,239 |
| EUR | European Lithium Ltd | 0.082 | 0% | $118,837,612 |
| LPD | Lepidico Ltd | 0.015 | 0% | $114,566,576 |
| RLC | Reedy Lagoon Corp. | 0.009 | 0% | $5,100,476 |
| TKL | Traka Resources | 0.007 | 0% | $5,059,422 |
| AX8 | Accelerate Resources | 0.029 | 0% | $10,950,451 |
| BYH | Bryah Resources Ltd | 0.022 | 0% | $6,187,576 |
| RAG | Ragnar Metals Ltd | 0.018 | 0% | $6,825,328 |
| EMC | Everest Metals Corp | 0.091 | 0% | $9,685,413 |
| WML | Woomera Mining Ltd | 0.016 | 0% | $15,298,579 |
| KGD | Kula Gold Limited | 0.027 | 0% | $9,752,722 |
| LRS | Latin Resources Ltd | 0.115 | 0% | $253,190,316 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| RMX | Red Mount Min Ltd | 0.006 | 0% | $11,930,093 |
| A8G | Australasian Metals | 0.185 | 0% | $7,616,541 |
| LSR | Lodestar Minerals | 0.005 | 0% | $8,692,187 |
| AOA | Ausmon Resorces | 0.006 | 0% | $5,293,736 |
| SRI | Sipa Resources Ltd | 0.031 | 0% | $7,072,902 |
| RAS | Ragusa Minerals Ltd | 0.11 | 0% | $15,685,866 |
| EVR | Ev Resources Ltd | 0.015 | 0% | $13,934,761 |
| WC8 | Wildcat Resources | 0.028 | 0% | $18,536,636 |
| THR | Thor Energy PLC | 0.006 | 0% | $8,731,877 |
| CZL | Cons Zinc Ltd | 0.018 | 0% | $8,682,441 |
| XTC | Xantippe Res Ltd | 0.005 | 0% | $51,460,174 |
| LLI | Loyal Lithium Ltd | 0.49 | 0% | $25,720,100 |
| LRD | Lordresourceslimited | 0.185 | 0% | $6,159,042 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| AUN | Aurumin | 0.068 | 0% | $12,087,876 |
| ZEO | Zeotech Limited | 0.041 | 0% | $67,268,932 |
| DAF | Discovery Alaska Ltd | 0.028 | 0% | $6,278,572 |
| FTL | Firetail Resources | 0.14 | 0% | $9,100,000 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| DAL | Dalaroometalsltd | 0.092 | 0% | $2,748,500 |
| TKM | Trek Metals Ltd | 0.074 | 0% | $26,931,936 |
| OCN | Oceanalithiumlimited | 0.365 | 0% | $13,291,110 |
| CMD | Cassius Mining Ltd | 0.034 | 0% | $13,888,759 |
| VSR | Voltaic Strategic | 0.024 | 0% | $7,354,336 |
| MIN | Mineral Resources. | 88.6 | 0% | $16,850,592,837 |
| WES | Wesfarmers Limited | 50.55 | 0% | $57,470,736,302 |
| VUL | Vulcan Energy | 7.16 | -1% | $1,032,734,167 |
| AKE | Allkem Limited | 13 | -1% | $8,372,450,669 |
| CY5 | Cygnus Gold Limited | 0.485 | -1% | $90,098,364 |
| FG1 | Flynngold | 0.094 | -1% | $7,440,736 |
| SCN | Scorpion Minerals | 0.08 | -1% | $28,002,202 |
| LIS | Lisenergylimited | 0.37 | -1% | $62,217,820 |
| A11 | Atlantic Lithium | 0.73 | -1% | $448,248,828 |
| IGO | IGO Limited | 14.44 | -1% | $11,086,400,782 |
| TUL | Tulla Resources | 0.35 | -1% | $75,561,200 |
| LLL | Leolithiumlimited | 0.605 | -2% | $606,794,001 |
| M2R | Miramar | 0.081 | -2% | $5,831,244 |
| CAI | Calidus Resources | 0.265 | -2% | $118,625,992 |
| ESS | Essential Metals Ltd | 0.52 | -2% | $141,810,348 |
| MLS | Metals Australia | 0.052 | -2% | $32,172,918 |
| PNN | Power Minerals Ltd | 0.5 | -2% | $36,844,860 |
| QXR | Qx Resources Limited | 0.046 | -2% | $42,152,529 |
| ARN | Aldoro Resources | 0.225 | -2% | $25,969,833 |
| WR1 | Winsome Resources | 2.17 | -2% | $312,336,287 |
| GL1 | Globallith | 2.13 | -2% | $464,717,698 |
| KZR | Kalamazoo Resources | 0.205 | -2% | $31,252,069 |
| MXR | Maximus Resources | 0.04 | -2% | $13,081,286 |
| LLO | Lion One Metals Ltd | 1 | -2% | $11,856,492 |
| PLS | Pilbara Min Ltd | 4.77 | -2% | $14,660,070,806 |
| SGQ | St George Min Ltd | 0.076 | -3% | $65,105,830 |
| MRR | Minrex Resources Ltd | 0.036 | -3% | $40,140,098 |
| LRV | Larvottoresources | 0.175 | -3% | $12,105,850 |
| PGD | Peregrine Gold | 0.485 | -3% | $19,375,945 |
| STM | Sunstone Metals Ltd | 0.031 | -3% | $83,854,285 |
| NMT | Neometals Ltd | 0.79 | -4% | $453,247,764 |
| RGL | Riversgold | 0.026 | -4% | $25,527,628 |
| AZI | Altamin Limited | 0.076 | -4% | $30,945,623 |
| NVA | Nova Minerals Ltd | 0.63 | -4% | $137,585,456 |
| LTR | Liontown Resources | 1.5 | -4% | $3,426,439,146 |
| AAJ | Aruma Resources Ltd | 0.075 | -4% | $12,242,997 |
| MMC | Mitremining | 0.3075 | -4% | $11,387,232 |
| DTM | Dart Mining NL | 0.049 | -4% | $7,936,649 |
| BNR | Bulletin Res Ltd | 0.12 | -4% | $36,698,888 |
| GSM | Golden State Mining | 0.046 | -4% | $5,616,682 |
| WCN | White Cliff Min Ltd | 0.0115 | -4% | $9,408,653 |
| GLN | Galan Lithium Ltd | 1.105 | -4% | $352,858,743 |
| TMB | Tambourahmetals | 0.11 | -4% | $4,737,149 |
| INR | Ioneer Ltd | 0.43 | -4% | $944,252,220 |
| LPI | Lithium Pwr Int Ltd | 0.42 | -5% | $276,802,926 |
| KTA | Krakatoa Resources | 0.04 | -5% | $14,477,817 |
| RDT | Red Dirt Metals Ltd | 0.49 | -5% | $229,127,357 |
| CRR | Critical Resources | 0.055 | -5% | $92,239,292 |
| AZL | Arizona Lithium Ltd | 0.07 | -5% | $180,745,343 |
| EFE | Eastern Resources | 0.017 | -6% | $21,155,870 |
| ALY | Alchemy Resource Ltd | 0.017 | -6% | $21,205,373 |
| CHR | Charger Metals | 0.41 | -6% | $19,015,750 |
| MNS | Magnis Energy Tech | 0.41 | -6% | $422,094,195 |
| CXO | Core Lithium | 1.065 | -6% | $2,089,780,719 |
| SYA | Sayona Mining Ltd | 0.245 | -6% | $2,259,302,337 |
| NWM | Norwest Minerals | 0.063 | -6% | $14,881,195 |
| AGY | Argosy Minerals Ltd | 0.7 | -6% | $1,046,283,586 |
| LKE | Lake Resources | 0.755 | -6% | $1,143,055,486 |
| FRS | Forrestaniaresources | 0.15 | -6% | $9,742,608 |
| GW1 | Greenwing Resources | 0.295 | -6% | $46,638,542 |
| IMI | Infinitymining | 0.215 | -7% | $17,590,013 |
| SRZ | Stellar Resources | 0.012 | -8% | $13,060,202 |
| QPM | Queensland Pacific | 0.1 | -9% | $192,098,271 |
| KAI | Kairos Minerals Ltd | 0.02 | -9% | $43,210,057 |
| DRE | Dreadnought Resources Ltd | 0.1 | -9% | $339,870,104 |
| ENT | Enterprise Metals | 0.009 | -10% | $7,050,807 |
| ADV | Ardiden Ltd | 0.007 | -13% | $21,506,683 |
| ASN | Anson Resources Ltd | 0.24 | -13% | $324,020,104 |
| CTN | Catalina Resources | 0.01 | -13% | $14,242,599 |
A total of only 27 companies finished the day in the green, 43 fell flat, and 67 tumbled into the red.
Patriot has extended the strike length of its CV5 pegmatite discovery by 400m through the first four holes of its latest drilling campaign at the Corvette property in Canada.
PMT’s president and CEO Blair Way says the company is off to a great start with drilling.
“With four drill rigs now active on site, and earlier than anticipated, we will continue to advance aggressively as we look ahead to an initial mineral resource estimate targeted for the first half of 2023.”
Balkan Mining has completed initial desktop studies at Corvette North and Corvette Northwest which cover around 22km2 in the prolific James Bay lithium region in Quebec, Canada.
The company says BMM MD Ross Cotton and director Karl Simich will be on the ground late February with Balkan Mining’s geological team to finalise plans for the upcoming work programs.
Ragusa has received data from a historic diamond drill-hole in the Tank Hill prospect area at the NT lithium project south of Darwin.
The information contains a significant pegmatite intersection with logged spodumene and corresponding elevated lithium from laboratory assay results.
Ragusa considers the Tank Hill prospect area to be a high priority site for deeper drilling during the coming dry season and planning is underway for additional exploration works to provide better information for drill-hole targeting.
St George has kicked off this year’s field program at its Mt Alexander Project in WA’s Goldfields.
The program is designed to identify further high-grade lithium bearing pegmatites through field mapping and sampling of pegmatite outcrop along the 15km corridor in SGQ’s project tenure.
Phase-1 reconnaissance sampling has been completed during due diligence on EPL 8535, part of the Uis Lithium Project in Namibia.
Sampling has returned results as high as 3.3% Li2O, 4,280ppm tantalum, 2.2% Sn, and 7,980ppm rubidium.
A first phase drilling campaign is set to start imminently with multiple pegmatite targets drill tested in aim to confirm the continuity of the high lithium grades at depth.
Manhattan Corp has entered into a binding agreement to acquire 100% of the shares in Afro Mining which via its subsidiary Continental Lithium, has the rights to 109 mineral licences comprising the Chebogue lithium project in Nova Scotia, Canada.
The company will become the largest tenement holder in Nova Scotia for exploration of lithium and critical metals and will hold the strike extension ground adjacent to the Brazil Lake pegmatites, which is one of its priority targets.
MHC says the area is heavily underexplored with several areas considered highly prospective for lithium-bearing pegmatites.
Belararox has located potential lithium-caesium-tantalum (LCT) mineralisation on its Bullabulling tenements in Western Australia.
Ongoing exploration activities planned for the Bullabulling tenements will now be widened to include assessment of both gold and LCT prospectivity.
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