• Volkswagen could push Tesla off the podium to claim top EV sales by 2024
  • Galan Lithium flags 18 new target zones for pegmatites at Greenbushes South
  • Riversgold’s Tambourah project returns to 3.14% lithium at surface

 All your ASX lithium news for Wednesday, June 15


Bloomberg Intelligence believes that electric vehicle heavyweights Volkswagen and Tesla will race ahead of the rest of the industry and battle to become the leader in global EV sales – with VW just pulling ahead to beat out Tesla by 2024.

Which is interesting, because Tesla’s market cap is currently ~10x higher than VW’s. Will VW’s valuation go up, or Tesla’s go down? Or both?

VW has worked hard to move on from the reputation-trashing diesel cheating scandal of 2015, when it installed software in millions of diesel cars designed to cheat and show false emission results every time the vehicles were tested.

The company has really pushed its EV brand, which has a wider variety of models (and pricing options) under its umbrella compared to Tesla’s limited line-up.

Even if  Volkswagen pushes Tesla to second place in global EV sales in 2024, the two automakers will hold a commanding lead over all other automakers, with each selling well over 2 million electric vehicles that year.

China’s BYD is expected to be a distant third, selling one million EVs in 2024.


Source: Company Filings, Bloomberg Intelligence Estimate


Room to pick up market share in China?

By 2025, EVs are expected to account for 25% of all car sales in China and 20% in Europe, according to the report.

Volkswagen already has the lead in Europe, but in China it lags behind, only accounting for 3.5% of that market in 2021.

Compare that to Tesla’s 13% slice of the Chinese market, however its worth noting that Tesla has committed its Shanghai factory for manufacturing for export – which may cost it more market share in China.



Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]


Only 28 stocks were in the green, 31 flatlined and 70 were in the red.


Who’s got news out today?


The company has processed recent airborne radiometric, magnetic and DEM survey data for its Greenbushes South JV project, flagging 18 new key target zones for lithium pegmatites.

Plus, mapping and sampling of the first target site (GS11) discovered an approximately 200m x 40m outcropping pegmatite lens with similar mineralogy to the pegmatites at the Tier 1 Greenbushes Lithium Mine just 15kms away.

Soil samples and rock chips from GS11 have been sent for geochemical assay, and Galan says further fieldwork on that site and other key targets is scheduled from July.



Rockchip sampling at the Tambourah project has returned up to 3.14% lithium at surface at the Lion prospect, and CEO Julian Ford says the company has just scraped the surface.

“Grade is king, and the results from our Lion Prospect at Tambourah, with an average grade of 2.24% Li2O and a maximum of 3.14% Li2O, are outstanding,” he said.

“We are encouraged by the scale of the Tambourah Project, as the Lion, Ragdoll and a new prospect to the north extend now for over 800 metres along the granite contact.

“Our understanding of the lithium mineralisation is improving with each site visit, and we are encouraged by MinRex Resources’ (ASX:MRR) success next door.

“The lithium mineralisation discovered to date represents just a very small part of the overall tenement potential, with the majority of the tenement still to be explored over the coming months.

“Our focus to date has been around the western granite/greenstone contact and we see great potential for our pegmatites to extend further along approximately 34km of contact – west and east – and to extend well into and under the greenstones.”



The company has wrapped up its acquisition of the South Dakota lithium project – making it the second ASX-listed US hard rock lithium explorer behind Piedmont Lithium (ASX:PLL).

Chairman Simon Lill says its transformational for IRIS.

“It diversifies the Company geographically and by commodity, providing shareholders with exposure into the highly strategic battery metals space,” he said.

“The US in general and South Dakota specifically present a supportive environment for the development of battery metals assets; leaving IRIS ideally positioned to leverage from exploration success.”

Pegmatite mapping and rock chip sampling is currently underway, with the company planning its initial exploration program.



The Northern Territory Department of Industry, Tourism and Trade has approved the company’s Mining Management Plan (MMP) for its flagship Bynoe Lithium Project.

An initial program of around 10,000 metres of Reverse Circulation (RC) drilling is planned to kick off in early July and will be designed to target the Lei and Cai Prospects.

“Our initial focus is the Lei and Cai Prospects, where we believe there is strong potential to delineate a maiden high-grade lithium resource at Bynoe,” executive chairman Dr Bin Guo says.


GLN, RGL, IR1 and LMP share prices today:


At Stockhead we tell it like it is. While Galan Lithium and Iris Metals are Stockhead advertisers, they did not sponsor this article.