• Volkswagen launches new battery business and begins construction at its first battery cell factory in Germany 
  • This plant (one of six planned for EU) is set to supply about 500,000 EVs with production aimed for 2025
  • AS2, GT1, and EFE all have ASX lithium news out today 

 

The world’s second largest car company, Volkswagen, broke ground at its first battery cell factory in Salzgitter, Germany on Thursday as it launched its new battery business – PowerCo, which will expand across Europe and into North America.

As part of its plan to produce its own batteries and increase vertical integration to help lower costs, Volkswagen said it would invest more than €20 billion, together with partners, by 2030 into the battery supply chain.

This is the first of six battery factories the company plans to build across Europe, with its second cell factory earmarked in Valencia, Spain. The four other European factory locations have not yet been announced.

The company plans to start production at the ‘SalzGiga’ cell factory in 2025 – apparently a nod to rival Tesla’s ‘Gigafactory’ which recently opened near Berlin, according to Reuters.

PowerCo will manage Volkswagen Group’s international factory operations, develop cell technology, vertically integrate the value chain, and supply the factories with machinery and equipment.

The Salzgitter plant alone is expected to supply about 500,000 EVs but in total, the new factories planned for Europe could supply roughly 3 million EVs.

 

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
CHR Charger Metals 0.48 1% 41% 26% $12,380,793.30
EFE Eastern Resources 0.032 14% 52% 23% $25,855,352.41
XTC Xantippe Res Ltd 0.0085 -15% 21% 21% $55,623,039.95
AOA Ausmon Resorces 0.006 -14% 0% 20% $4,286,446.72
DTM Dart Mining NL 0.062 -7% 24% 17% $7,168,788.48
EMS Eastern Metals 0.15 -12% 25% 15% $4,628,000.00
SRZ Stellar Resources 0.017 -29% 13% 13% $12,589,539.39
KZR Kalamazoo Resources 0.225 -27% 41% 13% $29,038,874.80
GT1 Greentechnology 0.56 -39% -11% 12% $92,134,821.50
NWM Norwest Minerals 0.028 -30% -3% 12% $4,515,184.68
AX8 Accelerate Resources 0.03 -14% -3% 11% $7,302,390.27
SRI Sipa Resources Ltd 0.04 -5% 21% 11% $7,380,892.91
TYX Tyranna Res Ltd 0.02 25% 18% 11% $27,582,492.01
EVR Ev Resources Ltd 0.031 -6% 29% 11% $25,927,553.99
M2R Miramar 0.1 -5% 16% 9% $5,905,173.00
AS2 Askarimetalslimited 0.26 -31% 11% 8% $9,982,624.80
WCN White Cliff Min Ltd 0.013 -24% 8% 8% $7,843,240.34
PGD Peregrine Gold 0.39 -15% 1% 8% $13,783,200.84
PLS Pilbara Min Ltd 2.38 -2% 4% 8% $6,549,066,444.80
AML Aeon Metals Ltd. 0.029 4% 45% 7% $26,760,545.72
KGD Kula Gold Limited 0.029 -3% 32% 7% $5,809,742.06
LTR Liontown Resources 1.02 -15% -3% 7% $2,082,613,938.10
ADV Ardiden Ltd 0.0075 -25% 7% 7% $18,678,347.49
INF Infinity Lithium 0.1125 -17% -6% 7% $43,576,371.93
QXR Qx Resources Limited 0.031 -23% 7% 7% $24,921,507.31
VUL Vulcan Energy 5.83 -19% 8% 7% $781,293,507.54
EMH European Metals Hldg 0.71 -23% 13% 7% $79,708,805.89
G88 Golden Mile Res Ltd 0.032 -35% 12% 7% $6,111,978.42
ALY Alchemy Resource Ltd 0.016 -24% 33% 7% $14,296,110.86
AKE Allkem Limited 10.57 -10% 3% 6% $6,338,321,374.84
MLS Metals Australia 0.051 -27% 2% 6% $27,265,737.17
VMC Venus Metals Cor Ltd 0.17 -8% 0% 6% $25,612,589.28
MRR Minrex Resources Ltd 0.035 -19% 13% 6% $34,984,849.71
LPI Lithium Pwr Int Ltd 0.45 0% 13% 6% $148,386,560.40
PLL Piedmont Lithium Inc 0.545 -32% 0% 6% $271,698,962.00
LRS Latin Resources Ltd 0.073 -13% 16% 6% $133,174,397.92
MIN Mineral Resources. 47.42 -20% -2% 6% $8,481,892,799.61
1MC Morella Corporation 0.019 -10% 12% 6% $93,171,851.75
RLC Reedy Lagoon Corp. 0.019 -14% 12% 6% $10,033,684.42
AAJ Aruma Resources Ltd 0.0665 -10% 1% 6% $9,888,574.69
WML Woomera Mining Ltd 0.019 -14% 12% 6% $12,362,995.19
GL1 Globallith 1.195 -22% 3% 5% $180,122,520.56
LKE Lake Resources 0.735 -50% -6% 5% $972,796,934.20
MNS Magnis Energy Tech 0.315 -13% 7% 5% $289,945,598.70
A8G Australasian Metals 0.215 -40% 8% 5% $8,439,951.27
ASN Anson Resources Ltd 0.11 -21% 16% 5% $107,930,795.18
KAI Kairos Minerals Ltd 0.022 -8% 29% 5% $41,203,963.31
AGY Argosy Minerals Ltd 0.335 -23% -7% 5% $433,936,315.84
AOU Auroch Minerals Ltd 0.067 -15% 22% 5% $23,644,915.14
IGO IGO Limited 10.09 -15% 2% 4% $7,315,207,073.58
FTL Firetail Resources 0.235 -36% 2% 4% $13,901,062.50
MQR Marquee Resource Ltd 0.072 -23% 18% 4% $21,777,613.02
KTA Krakatoa Resources 0.05 -32% 6% 4% $16,546,076.02
WC8 Wildcat Resources 0.026 -24% 8% 4% $16,131,818.18
GLN Galan Lithium Ltd 1.045 -19% -4% 4% $305,921,358.81
QPM Queensland Pacific 0.135 0% 17% 4% $203,269,707.03
LIS Lisenergylimited 0.565 13% 28% 4% $90,423,231.92
IMI Infinitymining 0.145 0% 4% 4% $8,050,000.00
NMT Neometals Ltd 1.02 -14% 13% 4% $540,150,750.06
AZL Arizona Lithium Ltd 0.089 -29% 9% 3% $192,080,741.14
AM7 Arcadia Minerals 0.15 -36% -3% 3% $6,771,194.34
LLL Leolithiumlimited 0.475 0% -14% 3% $453,862,179.52
LIT Lithium Australia 0.07 -15% 37% 3% $70,407,834.10
LEL Lithenergy 0.715 -32% 12% 3% $31,379,250.00
JRL Jindalee Resources 2.95 -19% -1% 3% $164,677,632.42
TUL Tulla Resources 0.56 -7% 3% 3% $87,318,195.24
LRD Lordresourceslimited 0.21 -14% -5% 2% $6,515,847.31
CRR Critical Resources 0.043 -31% 0% 2% $62,496,640.04
LPD Lepidico Ltd 0.0265 -12% 2% 2% $169,186,459.86
IR1 Irismetals 0.265 -17% 6% 2% $15,502,500.00
INR Ioneer Ltd 0.4525 -7% 10% 2% $933,225,876.00
CAI Calidus Resources 0.64 -19% 8% 2% $256,227,903.54
RIO Rio Tinto Limited 98.64 -15% -4% 2% $36,074,791,676.52
SCN Scorpion Minerals 0.071 -18% 0% 1% $23,228,183.44
ESS Essential Metals Ltd 0.375 -23% 6% 1% $91,200,347.25
PAM Pan Asia Metals 0.38 -29% -13% 1% $27,720,090.75
RDT Red Dirt Metals Ltd 0.385 -15% -4% 1% $115,730,681.88
CXO Core Lithium 0.9575 -23% 0% 1% $1,645,981,130.20
PSC Prospect Res Ltd 0.98 1% 1% 1% $450,702,975.45
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,203.44
EUR European Lithium Ltd 0.061 -9% 13% 0% $84,364,509.57
SYA Sayona Mining Ltd 0.145 -12% -3% 0% $1,195,779,137.15
TKL Traka Resources 0.006 -25% 0% 0% $4,132,647.37
TON Triton Min Ltd 0.0175 -35% 3% 0% $22,028,723.10
BMM Balkanminingandmin 0.175 -30% 6% 0% $5,731,250.00
ARN Aldoro Resources 0.15 -29% 20% 0% $14,882,038.35
BYH Bryah Resources Ltd 0.029 -31% -3% 0% $6,560,008.08
FG1 Flynngold 0.13 4% 30% 0% $8,327,936.50
FRS Forrestaniaresources 0.15 -14% 25% 0% $4,392,945.60
GSM Golden State Mining 0.0405 -33% 1% 0% $4,715,063.42
LRV Larvottoresources 0.215 -22% -4% 0% $8,929,487.50
RAG Ragnar Metals Ltd 0.039 -3% 3% 0% $14,788,210.67
SHH Shree Minerals Ltd 0.008 -11% 7% 0% $9,907,895.14
TSC Twenty Seven Co. Ltd 0.003 0% 0% 0% $7,982,441.72
PNN Power Minerals Ltd 0.415 -9% -7% 0% $25,529,498.98
WR1 Winsome Resources 0.2 -43% 3% 0% $27,022,798.80
MTM Mtmongerresources 0.12 -35% 0% 0% $4,501,203.96
ENT Enterprise Metals 0.01 -29% 25% 0% $6,446,468.55
STM Sunstone Metals Ltd 0.045 -6% 0% 0% $115,850,088.81
AVW Avira Resources Ltd 0.003 -25% 0% 0% $6,356,370.00
NVA Nova Minerals Ltd 0.7 19% 17% 0% $126,141,599.50
BNR Bulletin Res Ltd 0.115 -23% 10% 0% $33,647,976.50
RMX Red Mount Min Ltd 0.006 -14% 33% 0% $9,854,183.15
LSR Lodestar Minerals 0.007 -13% 40% 0% $12,169,061.44
IPT Impact Minerals 0.008 -11% 14% 0% $19,850,964.45
RGL Riversgold 0.029 -24% 12% 0% $21,934,903.97
ZNC Zenith Minerals Ltd 0.25 -32% -11% 0% $86,190,569.75
RAS Ragusa Minerals Ltd 0.083 -17% 11% 0% $10,436,100.95
EPM Eclipse Metals 0.02 -20% 11% 0% $38,422,528.26
THR Thor Mining PLC 0.01 -17% 11% 0% $10,689,009.73
CZL Cons Zinc Ltd 0.02 -9% 18% 0% $7,267,156.26
MXR Maximus Resources 0.047 -25% 9% 0% $14,941,571.10
DRE Dreadnought Resources Ltd 0.046 21% -2% 0% $130,579,443.35
MMG Monger Gold Ltd 0.215 -25% -7% 0% $8,608,600.00
AUN Aurumin 0.11 -31% -4% 0% $12,014,557.72
ZEO Zeotech Limited 0.047 -24% -6% 0% $71,671,027.09
DAF Discovery Alaska Ltd 0.044 -19% -17% 0% $9,866,326.71
DAL Dalaroometalsltd 0.105 11% 21% 0% $3,136,875.00
CY5 Cygnus Gold Limited 0.15 -12% -3% 0% $17,697,797.25
WES Wesfarmers Limited 44.78 -2% 7% 0% $50,773,366,036.76
AZI Altamin Limited 0.095 -4% -1% -1% $37,604,808.19
TKM Trek Metals Ltd 0.056 -36% 8% -2% $17,704,778.55
WMC Wiluna Mining Corp 0.215 -55% -9% -2% $79,670,081.70
GW1 Greenwing Resources 0.215 -22% 8% -2% $27,114,416.78
MM1 Midasmineralsltd 0.195 -29% 5% -3% $10,887,625.00
TMB Tambourahmetals 0.14 -32% 12% -3% $5,972,926.71
LNR Lanthanein Resources 0.0165 -13% -3% -6% $14,661,947.48
MMC Mitremining 0.12 -8% 0% -8% $3,521,063.00
VKA Viking Mines Ltd 0.006 -25% 0% -14% $7,176,809.02
TEM Tempest Minerals 0.054 10% -41% -39% $44,419,423.49

A good day for lithium bugs – 79 companies finished in the green, 41 flat lined and only 10 in the red.

 

Who’s got news out today?

ASKARI METALS (ASX:AS2) 

Results from phase-three rock sampling at the South-Eastern Project area at the Barrow Creek Lithium Project has identified three anomalous lithium bearing pegmatite zones.

The program tested exposed pegmatites within 69 rock samples collected over a 6.2km strike length with a zone of outcropping and sub-cropping pegmatites mapped and sampled along a 5km corridor.

AS2 says results indicated a correlation between lithium and several other indicator minerals such as tin, tantalum, niobium, silver, molybdenum and antimony.

Follow up work is planned for the newly identified anomalism as well as for the unexplored South Central area of the project.

 

Green Technology Metals (ASX:GT1) 

The first completed hole in the latest diamond drilling program which recommenced at the Seymour Lithium Project in June has returned 17.9m spodumene bearing pegmatite from 218m as further assays remain pending.

This intersection is considerably thicker than modelled and potentially increases the mineralised volumes in this targeted strike extension of the North Aubry deposit.

The second hole returned 18.6m spodumene bearing pegmatite from 312m, plus a further 6.41m pegmatite interval 60m above the main zone.

Additional step-out drilling at North Aubry is set to target further northerly strike extension, along with accompanying down-dip extensional opportunities.

 

Eastern Resources (ASX:EFE) 

EFE was once an iron ore junior but is now all-in on lithium and shares in the company rocketed this morning on news of some ‘outstanding’ lithium assays at the Trigg Hill Project in WA’s East Pilbara.

The company has been conducting field work at the project since March, which has included mapping, rock chip sampling of outcropping pegmatites and soil sampling.

Assay results from the first 124 rock chip samples have confirmed visual observations of highly anomalous levels of lithium as well as caesium, tantalum, and tin confirming the presence of fractionated LCT pegmatites.

Of the samples collected from the large East Curlew pegmatite swarm, at least 80% were from LCT pegmatites.