Eye on Lithium: Volkswagen eyes making its own batteries in the US

Volkswagen is eyeing a potential battery manufacturing plant in the US
Forrestania ready to get the drill spinning at the ‘South Iron Cap East’ lithium prospect
Eastern Resources has formed a new JV to explore for lepidolite lithium projects

All your ASX lithium news for Friday, June 10

Electric vehicle (EV) makers are ramping up efforts to get involved in all aspects of the supply chain, and Volkswagen is no exception.

The company is looking at setting up an in-house battery cell manufacturing operation in North America – similar to its battery pilot line and recycling facility in Germany.

The idea is to ease a coming battery shortage by supplementing suppliers with its own production, Volkswagen America COO Johan De Nysschen told Bloomberg.

The company has been scouting sites to build its own cell-production facility, using third-party suppliers or entering into joint ventures.

This comes after an announcement in March to earmark $7.1bn over the next five years to improve its US offering battery research and manufacturing capabilities.

The carmaker has already invested $800 million to retool its Chattanooga assembly plant in Tennessee to make EVs – and just opened a new $22 million testing lab at the site this week.

Here’s @VW of America CEO Scott Keogh introducing new $22 million battery engineering lab in Chattanooga. pic.twitter.com/85xketqKcy

— Larry P. Vellequette (@LarryVellequett) June 8, 2022

A final decision on the battery facility is expected by the end of the year.

Here’s how ASX lithium stocks were tracking today:

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

Code	Company	Price	% Month	% Week	% Today	Market Cap
FRS	Forrestaniaresources	0.16	-45%	-9%	14%	$3,933,832.56
RAG	Ragnar Metals Ltd	0.048	20%	4%	14%	$15,925,765.34
QPM	Queensland Pacific	0.13	-10%	-19%	8%	$187,633,575.72
EFE	Eastern Resources	0.027	-31%	-7%	8%	$24,860,915.78
TMB	Tambourahmetals	0.175	-24%	-17%	6%	$6,796,778.67
WML	Woomera Mining Ltd	0.02	-5%	-13%	5%	$13,049,828.25
M2R	Miramar	0.105	-19%	-9%	5%	$6,389,254.50
KTA	Krakatoa Resources	0.0635	-26%	-18%	4%	$21,027,304.94
DAF	Discovery Alaska Ltd	0.054	54%	-14%	4%	$11,660,204.30
INF	Infinity Lithium	0.14	0%	12%	4%	$56,026,763.91
LKE	Lake Resources	1.37	-6%	3%	3%	$1,784,066,069.35
CY5	Cygnus Gold Limited	0.17	13%	0%	3%	$19,467,576.98
AZL	Arizona Lithium Ltd	0.1125	-22%	-13%	2%	$245,599,113.32
G88	Golden Mile Res Ltd	0.05	4%	0%	2%	$9,982,898.09
AAJ	Aruma Resources Ltd	0.07	-17%	-3%	1%	$10,830,343.71
EMH	European Metals Hldg	0.85	-21%	-1%	1%	$118,252,650.60
ADV	Ardiden Ltd	0.009	-25%	-18%	0%	$24,015,018.20
AML	Aeon Metals Ltd.	0.026	-33%	-24%	0%	$25,769,414.40
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	$2,752,409,203.44
ESS	Essential Metals Ltd	0.42	-13%	-16%	0%	$103,508,889.12
LIT	Lithium Australia	0.082	-10%	-2%	0%	$84,903,232.22
RLC	Reedy Lagoon Corp.	0.018	-31%	-28%	0%	$10,033,684.42
TON	Triton Min Ltd	0.027	-4%	4%	0%	$33,987,172.78
ARN	Aldoro Resources	0.175	-30%	-17%	0%	$17,362,378.08
AX8	Accelerate Resources	0.033	-11%	-6%	0%	$8,694,143.67
AM7	Arcadia Minerals	0.215	-4%	-2%	0%	$7,523,387.50
BYH	Bryah Resources Ltd	0.038	-19%	-16%	0%	$8,595,872.65
DTM	Dart Mining NL	0.065	7%	-7%	0%	$8,791,910.40
FG1	Flynngold	0.13	-10%	0%	0%	$8,327,936.50
MMC	Mitremining	0.13	-7%	-7%	0%	$3,521,063.00
SHH	Shree Minerals Ltd	0.009	-18%	0%	0%	$11,000,132.03
TSC	Twenty Seven Co. Ltd	0.003	-25%	0%	0%	$7,982,441.72
AZI	Altamin Limited	0.095	-1%	0%	0%	$37,213,091.44
ENT	Enterprise Metals	0.013	-7%	-7%	0%	$8,380,409.12
AVW	Avira Resources Ltd	0.004	-20%	0%	0%	$8,475,160.00
SRZ	Stellar Resources	0.02	-13%	-5%	0%	$16,786,052.52
LSR	Lodestar Minerals	0.007	-36%	-22%	0%	$12,169,061.44
AOA	Ausmon Resorces	0.007	-13%	-13%	0%	$6,001,025.40
VKA	Viking Mines Ltd	0.007	-30%	0%	0%	$7,176,809.02
IPT	Impact Minerals	0.009	-10%	-10%	0%	$22,332,335.00
THR	Thor Mining PLC	0.012	0%	-8%	0%	$12,807,611.68
CZL	Cons Zinc Ltd	0.019	-21%	-24%	0%	$6,903,798.45
AOU	Auroch Minerals Ltd	0.086	-12%	1%	0%	$31,772,854.71
XTC	Xantippe Res Ltd	0.009	-10%	0%	0%	$69,147,512.09
WMC	Wiluna Mining Corp	0.48251	0%	0%	0%	$101,961,574.11
AUN	Aurumin	0.165	-3%	-8%	0%	$18,021,836.58
TYX	Tyranna Res Ltd	0.016	167%	-11%	0%	$24,517,770.67
TKM	Trek Metals Ltd	0.078	8%	-5%	0%	$24,227,591.70
PSC	Prospect Res Ltd	0.955	1%	-3%	-1%	$427,839,925.44
LIS	Lisenergylimited	0.485	-9%	-14%	-1%	$81,297,951.63
INR	Ioneer Ltd	0.435	-17%	-4%	-1%	$920,171,744.80
CXO	Core Lithium	1.2	5%	5%	-1%	$2,104,809,045.66
SCN	Scorpion Minerals	0.079	-4%	-18%	-1%	$26,546,495.36
FTL	Firetail Resources	0.34	-7%	11%	-1%	$21,314,962.50
ZEO	Zeotech Limited	0.059	11%	-8%	-2%	$91,494,928.20
NVA	Nova Minerals Ltd	0.575	-9%	-11%	-2%	$105,418,336.73
KZR	Kalamazoo Resources	0.28	-18%	-16%	-2%	$41,380,396.59
LPD	Lepidico Ltd	0.0275	-2%	2%	-2%	$182,200,802.92
SYA	Sayona Mining Ltd	0.1375	-48%	-17%	-2%	$1,153,947,221.84
RIO	Rio Tinto Limited	115.11	8%	2%	-2%	$43,606,768,658.58
CHR	Charger Metals	0.46	-26%	-9%	-2%	$15,313,086.45
TEM	Tempest Minerals	0.045	-33%	-10%	-2%	$23,219,244.10
LTR	Liontown Resources	1.115	-12%	-6%	-2%	$2,499,136,725.72
PNN	PepinNini Minerals	0.445	-21%	-7%	-2%	$27,984,090.68
LRD	Lordresourceslimited	0.22	-23%	-17%	-2%	$6,926,539.73
LPI	Lithium Pwr Int Ltd	0.415	-33%	-16%	-2%	$148,386,560.40
PLS	Pilbara Min Ltd	2.235	-13%	-2%	-2%	$6,816,982,799.36
MRR	Minrex Resources Ltd	0.04	-25%	-23%	-2%	$41,357,335.87
SRI	Sipa Resources Ltd	0.039	-7%	3%	-3%	$8,200,992.12
MIN	Mineral Resources.	56.43	5%	-2%	-3%	$10,958,537,384.64
DRE	Dreadnought Resources Ltd	0.037	-5%	-8%	-3%	$107,869,974.94
NMT	Neometals Ltd	1.055	-19%	-13%	-3%	$594,988,389.66
WCN	White Cliff Min Ltd	0.0175	-24%	-13%	-3%	$11,764,860.52
MNS	Magnis Energy Tech	0.335	-13%	-12%	-3%	$333,437,438.51
PAM	Pan Asia Metals	0.485	8%	-11%	-3%	$36,829,322.00
EUR	European Lithium Ltd	0.064	-23%	-12%	-3%	$91,272,299.98
IGO	IGO Limited	11.34	-3%	-2%	-3%	$8,860,033,412.10
IMI	Infinitymining	0.155	-14%	-3%	-3%	$9,200,000.00
AKE	Allkem Limited	10.79	-5%	-6%	-3%	$7,103,511,078.04
KGD	Kula Gold Limited	0.03	-14%	-9%	-3%	$6,670,444.59
GLN	Galan Lithium Ltd	1.195	-23%	-8%	-3%	$375,933,212.07
PGD	Peregrine Gold	0.42	-5%	-3%	-3%	$16,654,701.02
BNR	Bulletin Res Ltd	0.14	-7%	-15%	-3%	$42,063,209.50
CRR	Critical Resources	0.055	-28%	-21%	-4%	$84,800,489.33
AGY	Argosy Minerals Ltd	0.38	-1%	-15%	-4%	$535,611,536.73
MMG	Monger Gold Ltd	0.25	-19%	-11%	-4%	$10,410,400.00
LRV	Larvotto Resources	0.24	-16%	-20%	-4%	$10,383,125.00
LRS	Latin Resources Ltd	0.071	-32%	-24%	-4%	$142,769,520.60
EPM	Eclipse Metals	0.023	-21%	-8%	-4%	$46,107,033.91
RAS	Ragusa Minerals Ltd	0.09	22%	-33%	-4%	$11,811,836.02
RDT	Red Dirt Metals Ltd	0.44	5%	-12%	-4%	$140,095,035.96
WR1	Winsome Resources	0.305	-26%	-18%	-5%	$43,236,478.08
DAL	Dalaroometalsltd	0.081	-38%	-26%	-5%	$2,539,375.00
MXR	Maximus Resources	0.06	-14%	-9%	-5%	$20,028,063.38
PLL	Piedmont Lithium Inc	0.74	-12%	-3%	-5%	$411,505,224.00
ZNC	Zenith Minerals Ltd	0.365	-1%	-3%	-5%	$132,403,099.68
ALY	Alchemy Resource Ltd	0.018	-18%	-25%	-5%	$18,108,407.08
LNR	Lanthanein Resources	0.018	-36%	-18%	-5%	$15,918,685.83
GL1	Global Lithium	1.42	-15%	-6%	-5%	$238,047,384.00
FFX	Firefinch Ltd	0.26	-72%	-73%	-5%	$324,841,885.78
GW1	Greenwing Resources	0.26	-32%	-7%	-5%	$33,893,020.98
STM	Sunstone Metals Ltd	0.051	-9%	-2%	-6%	$139,020,106.57
RGL	Riversgold	0.034	-31%	-11%	-6%	$27,229,535.96
MQR	Marquee Resource Ltd	0.082	-15%	-18%	-6%	$27,139,518.20
VUL	Vulcan Energy	6.39	-10%	-14%	-6%	$892,553,710.20
QXR	Qx Resources Limited	0.032	-35%	-30%	-6%	$29,218,318.91
WC8	Wildcat Resources	0.032	0%	-3%	-6%	$21,939,272.72
GT1	Greentechnology	0.835	-2%	-7%	-6%	$121,246,480.00
BMM	Balkanminingandmin	0.225	-35%	-13%	-6%	$7,860,000.00
MTM	Mtmongerresources	0.15	-6%	-32%	-6%	$5,801,605.28
EVR	Ev Resources Ltd	0.03	-32%	-23%	-6%	$29,631,490.27
JRL	Jindalee Resources	2.96	-22%	-6%	-6%	$181,317,532.56
CAI	Calidus Resources	0.695	-21%	-13%	-7%	$300,252,625.21
RMX	Red Mount Min Ltd	0.0065	-19%	-19%	-7%	$11,496,547.01
MM1	Midasmineralsltd	0.25	-22%	-14%	-7%	$14,698,293.75
LEL	Lithenergy	0.88	-35%	-19%	-8%	$43,118,250.00
1MC	Morella Corporation	0.0175	-35%	-27%	-8%	$98,348,065.73
VMC	Venus Metals Cor Ltd	0.17	0%	-8%	-8%	$27,949,556.36
MLS	Metals Australia	0.055	-38%	-27%	-8%	$31,028,665.50
KAI	Kairos Minerals Ltd	0.022	-15%	-12%	-8%	$47,090,243.78
A8G	Australasian Metals	0.275	-35%	-25%	-8%	$12,351,148.20
EMS	Eastern Metals	0.155	-6%	-9%	-9%	$6,052,000.00
AS2	Askarimetalslimited	0.295	-42%	-29%	-9%	$13,518,137.75
IR1	Irismetals	0.28	-56%	-13%	-10%	$17,243,750.00
TKL	Traka Resources	0.008	-11%	0%	-11%	$6,198,971.05
ASN	Anson Resources Ltd	0.115	5%	-12%	-12%	$133,628,603.55
GSM	Golden State Mining	0.052	-20%	-16%	-12%	$6,868,857.82
NWM	Norwest Minerals	0.035	-30%	-17%	-13%	$7,224,295.48

Only 16 stocks were in the green today, a whopping 80 were in the red and 32 failed to move the needle.

Who’s got news out today?

FORRESTANIA RESOURCES (ASX:FRS)

FRS is approved and ready to go on a drilling program at the “high priority” ‘South Iron Cap East’ lithium prospect, part of the ‘Forrestania’ project in WA.

Several other program of work (POW) applications to drill other prospects are pending.

South Iron Cap East is ~1km from a 2016 drill result reported by Western Areas of 50.6m @ 0.95% Li2O “which is a significant result and demonstrates the prospectivity of the area”, FRS says.

EASTERN RESOURCES (ASX:EFE)

The company and Yongxing Special Materials Australia have incorporated a JV company – EFE Yongxing – to seek lepidolite lithium projects in Australia.

Eastern Resources has 60% interest by contributing $100,000 and YSMA has 40% interest by contributing $900,000.

EFE Yongxing will actively seek lepidolite opportunities from exploration stage through to projects with established resources, and also will investigate any potential opportunities regarding producing lepidolite concentrates/DSO by co-operating with operating lithium mines and lithium projects in advanced stage.

Meanwhile EFE will explore for lepidolite as well as spodumene in the existing Trigg Hill Lithium Tantalum Project and Taylor Lookout Lithium Tantalum Project.

GLOBAL LITHIUM RESOURCES (ASX:GL1)

The company has returned more “encouraging” assays from drilling at its Marble Bar project in WA, including 1m at 1.42% lithium, 9m at 1.09% and 7m at 1.82%.

GL1 says the wide intervals demonstrate the robustness of the project and “enhance the opportunities for increasing the resource base in proximity to the current Archer deposit and along strike further to the south and east.”

Ongoing drilling will target these lithium mineralised pegmatites to establish their prospectivity both along strike and down dip.

Plus, there are additional outcropping lithium targets which remain untested – and will form part of the ongoing focus for the CY2022 drilling program.

XANTIPPE RESOURCES (ASX:XTC)

XTC has expanding its footprint in the lithium triangle, executing a definitive agreement to acquire the “Luz Maria” tenement prospective for lithium brine deposits in Catamarca, Argentina – known as the Carachi Pampa Lithium Project.

“In executing the definitive agreement to acquire the Luz Maria tenement, Xantippe has increased its holding by 3,383 hectares in the Latin American lithium triangle,” MD Richard Henning says.

“Together with La Sofia, Rita and Rita I, XTC now holds almost 12,400 hectares.”

The company’s plan is to produce an ESG lithium product using direct lithium extraction (DLE) which requires a smaller environmental footprint, provides optimal yield and efficient use of water.