Pic: Getty Images
Eye on Lithium: When it comes to decarbonisation, the US is putting money where its mouth is
Mining
share
- Piedmont Lithium selected to receive A$226.7m in funding to expand domestic manufacturing of batteries for EV in the US
- Askari Metals signs an agreement with Shanghai-listed and lithium heavy weight, Zhejiang Kanglongda Special Protection Technology Co
- Prospect Resources hits multiple intersections of high-grade lithium at the Step Aside Project
All your lithium news, Thursday October 20.
Heavily geared towards driving decarbonisation investment, the Inflation Reduction Act of 2022 obstensibly marks some of the most important climate legislation in the history of the US.
A huge amount of political, strategic, and financial support – roughly A$370b – has been laid out and according to Climate Energy Finance director Tim Buckley, today’s announcement of up to $816 million in grants to three ASX listed companies only further accelerates these investment trends.
$1.45b market cap lithium developer, Piedmont (ASX:PLL) is one of the lucky beneficiaries, having been selected for a A$226.7m grant to support the construction of the Tennessee Lithium Project, which is set to expand the US supply of lithium hydroxide by 30,000mt per year – a critical component of high density, long-range EV batteries.
“President Biden’s ambition to see 50 per cent of all new vehicle sales as EV/plugins is entirely consistent with the trends in Europe and China,” Buckley adds.
“Currently, China EV/ plug-in sales are up 100pc year-on-year, reaching a record 29.4oc share of all passenger vehicle sales in August.”
PLL president and CEO Keith Phillips says the US is putting investment dollars behind its policies to support energy independence and national security.
“Over 80 per cent of lithium hydroxide production today occurs in China.
“This grant will accelerate the development of the Tennessee Lithium project as a world-class operation, which is excted to more than double the domestic production of battery grade lithium hydroxide in the United States.”
Here’s how ASX lithium companies are tracking:
| CODE | COMPANY | PRICE | % TODAY | % WEEK | % MONTH | % YEAR | MARKET CAP |
|---|---|---|---|---|---|---|---|
| AS2 | Askarimetalslimited | 0.48 | 22% | 28% | 32% | 131% | $17,964,253 |
| BYH | Bryah Resources Ltd | 0.026 | 13% | 8% | -10% | -53% | $6,422,830 |
| MMG | Monger Gold Ltd | 0.48 | 9% | 20% | -11% | 71% | $17,617,600 |
| TON | Triton Min Ltd | 0.026 | 8% | 13% | 8% | -19% | $33,186,820 |
| RAG | Ragnar Metals Ltd | 0.027 | 8% | 0% | -27% | -37% | $9,479,622 |
| IPT | Impact Minerals | 0.007 | 8% | 0% | 0% | -52% | $16,128,909 |
| PLL | Piedmont Lithium Inc | 0.9 | 7% | 7% | 2% | 8% | $1,431,780,930 |
| TEM | Tempest Minerals | 0.032 | 7% | 3% | -14% | 60% | $15,142,985 |
| THR | Thor Mining PLC | 0.0085 | 6% | -6% | -23% | -53% | $8,814,388 |
| PSC | Prospect Res Ltd | 0.1025 | 6% | 4% | 11% | 323% | $44,839,168 |
| SCN | Scorpion Minerals | 0.0725 | 5% | 5% | -9% | 7% | $23,025,727 |
| LRS | Latin Resources Ltd | 0.105 | 5% | 5% | -9% | 144% | $197,209,329 |
| PGD | Peregrine Gold | 0.63 | 5% | 15% | 5% | 31% | $23,232,934 |
| MQR | Marquee Resource Ltd | 0.065 | 5% | 14% | -6% | -26% | $19,692,290 |
| LPD | Lepidico Ltd | 0.022 | 5% | 22% | -21% | -18% | $138,226,016 |
| AML | Aeon Metals Ltd. | 0.026 | 4% | -2% | -16% | -53% | $27,335,769 |
| EMH | European Metals Hldg | 0.81 | 4% | 21% | -4% | -43% | $93,357,956 |
| G88 | Golden Mile Res Ltd | 0.027 | 4% | 4% | -18% | -46% | $5,319,334 |
| KAI | Kairos Minerals Ltd | 0.029 | 4% | -3% | -36% | -3% | $54,994,618 |
| AM7 | Arcadia Minerals | 0.31 | 3% | 5% | 7% | 51% | $14,009,368 |
| MMC | Mitremining | 0.18 | 3% | 6% | 0% | -20% | $4,739,893 |
| MXR | Maximus Resources | 0.045 | 2% | 2% | -4% | -45% | $14,031,854 |
| TYX | Tyranna Res Ltd | 0.046 | 2% | 12% | -4% | 557% | $107,951,640 |
| AAJ | Aruma Resources Ltd | 0.0715 | 2% | -2% | 8% | -14% | $10,987,305 |
| ARN | Aldoro Resources | 0.25 | 2% | 11% | 14% | -41% | $24,398,893 |
| JRL | Jindalee Resources | 2.34 | 2% | 6% | -10% | -6% | $131,971,622 |
| AOU | Auroch Minerals Ltd | 0.061 | 2% | 2% | -20% | -67% | $22,266,708 |
| KTA | Krakatoa Resources | 0.061 | 2% | 3% | -5% | -2% | $20,682,595 |
| ZNC | Zenith Minerals Ltd | 0.315 | 2% | 5% | 7% | 26% | $106,876,306 |
| IMI | Infinitymining | 0.235 | 1% | 7% | -6% | 0% | $14,675,109 |
| NVA | Nova Minerals Ltd | 0.69 | 1% | 2% | -17% | -52% | $125,807,973 |
| LEL | Lithenergy | 1.195 | 0% | 3% | 7% | 84% | $71,578,500 |
| ADV | Ardiden Ltd | 0.007 | 0% | 0% | -13% | -42% | $18,678,347 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | 126% | $2,752,409,203 |
| GLN | Galan Lithium Ltd | 1.27 | 0% | 5% | -9% | 9% | $386,803,749 |
| RLC | Reedy Lagoon Corp. | 0.013 | 0% | -7% | -13% | -52% | $7,246,550 |
| TKL | Traka Resources | 0.006 | 0% | 0% | -14% | -57% | $4,132,647 |
| BMM | Balkanminingandmin | 0.26 | 0% | -7% | -23% | -61% | $11,182,797 |
| AX8 | Accelerate Resources | 0.035 | 0% | 3% | -5% | -19% | $9,466,061 |
| EMS | Eastern Metals | 0.13 | 0% | -10% | -4% | 0% | $5,025,313 |
| FG1 | Flynngold | 0.105 | 0% | -5% | 5% | -32% | $6,726,410 |
| FRS | Forrestaniaresources | 0.17 | 0% | -21% | -19% | -58% | $8,571,369 |
| SHH | Shree Minerals Ltd | 0.007 | 0% | -42% | -22% | -36% | $8,669,408 |
| WCN | White Cliff Min Ltd | 0.019 | 0% | -5% | -17% | 58% | $14,204,464 |
| CRR | Critical Resources | 0.068 | 0% | 11% | -14% | 134% | $101,332,760 |
| QXR | Qx Resources Limited | 0.067 | 0% | -15% | 91% | 272% | $59,084,776 |
| AZI | Altamin Limited | 0.082 | 0% | 3% | -7% | 0% | $32,120,774 |
| ENT | Enterprise Metals | 0.01 | 0% | -9% | -17% | -33% | $6,529,807 |
| AVW | Avira Resources Ltd | 0.0035 | 0% | 0% | -22% | -42% | $7,468,265 |
| BNR | Bulletin Res Ltd | 0.125 | 0% | 4% | -11% | 79% | $36,573,888 |
| RMX | Red Mount Min Ltd | 0.0055 | 0% | 0% | -8% | -39% | $9,033,001 |
| A8G | Australasian Metals | 0.275 | 0% | -2% | -7% | -65% | $11,321,886 |
| SRZ | Stellar Resources | 0.013 | 0% | 0% | 0% | -61% | $13,060,202 |
| LSR | Lodestar Minerals | 0.0055 | 0% | 0% | -15% | -45% | $9,561,405 |
| NWM | Norwest Minerals | 0.028 | 0% | 0% | -38% | -67% | $6,219,007 |
| AOA | Ausmon Resorces | 0.007 | 0% | 0% | -13% | 0% | $6,001,025 |
| VKA | Viking Mines Ltd | 0.007 | 0% | 0% | -13% | -67% | $7,176,809 |
| SRI | Sipa Resources Ltd | 0.05 | 0% | 9% | -4% | -9% | $10,251,240 |
| VMC | Venus Metals Cor Ltd | 0.14 | 0% | -3% | -15% | -22% | $22,411,016 |
| EPM | Eclipse Metals | 0.021 | 0% | 0% | -9% | -60% | $42,509,394 |
| EVR | Ev Resources Ltd | 0.025 | 0% | 0% | -17% | -24% | $23,149,602 |
| WC8 | Wildcat Resources | 0.032 | 0% | -9% | -11% | -38% | $20,856,727 |
| MNS | Magnis Energy Tech | 0.36 | 0% | 3% | -22% | -1% | $349,319,334 |
| DRE | Dreadnought Resources Ltd | 0.1 | 0% | 0% | -13% | 163% | $304,253,355 |
| M2R | Miramar | 0.1 | 0% | 1% | -5% | -47% | $6,418,666 |
| XTC | Xantippe Res Ltd | 0.008 | 0% | -11% | -20% | 167% | $65,161,839 |
| LRD | Lordresourceslimited | 0.3 | 0% | 3% | 15% | 0% | $9,985,386 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | 0% | 0% | -77% | $74,238,031 |
| AUN | Aurumin | 0.092 | 0% | 10% | -12% | -56% | $11,528,257 |
| ZEO | Zeotech Limited | 0.038 | 0% | 6% | -24% | -55% | $61,352,248 |
| GW1 | Greenwing Resources | 0.36 | 0% | -5% | 18% | 29% | $45,433,967 |
| FTL | Firetail Resources | 0.19 | 0% | 0% | -28% | 0% | $11,738,675 |
| DAL | Dalaroometalsltd | 0.135 | 0% | -7% | 4% | -46% | $4,033,125 |
| TKM | Trek Metals Ltd | 0.058 | 0% | -9% | -12% | -57% | $18,015,389 |
| A11 | Atlantic Lithium | 0.64 | 0% | 7% | 0% | 0% | $387,674,662 |
| CMD | Cassius Mining Ltd | 0.03 | 0% | -17% | -3% | 76% | $12,112,227 |
| MIN | Mineral Resources. | 72.06 | 0% | 3% | 6% | 68% | $13,719,217,887 |
| PAM | Pan Asia Metals | 0.3775 | -1% | 5% | -13% | -31% | $55,805,124 |
| CHR | Charger Metals | 0.485 | -1% | 2% | -10% | 11% | $21,366,957 |
| CY5 | Cygnus Gold Limited | 0.465 | -1% | 6% | 86% | 244% | $69,177,098 |
| SYA | Sayona Mining Ltd | 0.2225 | -1% | -1% | -16% | 44% | $1,869,863,193 |
| LIS | Lisenergylimited | 0.44 | -1% | -11% | -28% | -82% | $73,831,813 |
| TUL | Tulla Resources | 0.44 | -1% | 2% | -9% | -15% | $71,296,508 |
| MRR | Minrex Resources Ltd | 0.0435 | -1% | -21% | -18% | 129% | $47,661,501 |
| MLS | Metals Australia | 0.0425 | -1% | -1% | -11% | 6% | $26,102,556 |
| WES | Wesfarmers Limited | 44.155 | -1% | 0% | -3% | -18% | $50,659,982,013 |
| WR1 | Winsome Resources | 0.385 | -1% | 17% | 18% | 0% | $52,694,458 |
| QPM | Queensland Pacific | 0.1675 | -1% | -4% | 8% | -37% | $294,145,290 |
| LTR | Liontown Resources | 1.8125 | -2% | 16% | 11% | 15% | $4,052,423,221 |
| RAS | Ragusa Minerals Ltd | 0.275 | -2% | -2% | 12% | 162% | $36,683,536 |
| AZL | Arizona Lithium Ltd | 0.0795 | -2% | 5% | -9% | 53% | $195,203,970 |
| ALY | Alchemy Resource Ltd | 0.0265 | -2% | -2% | 33% | 104% | $31,673,059 |
| PLS | Pilbara Min Ltd | 4.98 | -2% | -4% | 5% | 136% | $15,162,454,445 |
| CXO | Core Lithium | 1.3525 | -2% | 16% | -6% | 115% | $2,531,638,567 |
| OCN | Oceanalithiumlimited | 0.48 | -2% | -3% | -22% | 0% | $16,427,250 |
| RGL | Riversgold | 0.047 | -2% | 9% | 21% | 116% | $37,262,450 |
| INF | Infinity Lithium | 0.22 | -2% | 19% | 22% | 2% | $93,757,448 |
| EUR | European Lithium Ltd | 0.086 | -2% | 6% | -3% | -14% | $123,221,047 |
| LKE | Lake Resources | 1.05 | -2% | 4% | 0% | 64% | $1,494,221,737 |
| KGD | Kula Gold Limited | 0.041 | -2% | 11% | 78% | -14% | $14,120,901 |
| RIO | Rio Tinto Limited | 91.73 | -2% | -4% | -1% | -7% | $34,898,036,278 |
| LPI | Lithium Pwr Int Ltd | 0.565 | -3% | 4% | -5% | 38% | $226,896,653 |
| KZR | Kalamazoo Resources | 0.185 | -3% | -5% | -26% | -48% | $28,275,681 |
| DAF | Discovery Alaska Ltd | 0.035 | -3% | 3% | -54% | -13% | $8,072,449 |
| IGO | IGO Limited | 15.71 | -3% | 0% | 10% | 62% | $12,237,447,858 |
| AGY | Argosy Minerals Ltd | 0.515 | -3% | 8% | -7% | 110% | $731,674,713 |
| AKE | Allkem Limited | 14.91 | -3% | 1% | -3% | 65% | $9,788,051,620 |
| ESS | Essential Metals Ltd | 0.505 | -3% | -2% | 3% | 166% | $129,148,595 |
| GL1 | Globallith | 2.63 | -3% | 14% | -1% | 541% | $430,072,274 |
| IR1 | Irismetals | 1.745 | -3% | 9% | -22% | 445% | $112,914,000 |
| VUL | Vulcan Energy | 6.21 | -3% | -9% | -21% | -52% | $918,779,279 |
| STM | Sunstone Metals Ltd | 0.031 | -3% | -3% | -23% | -53% | $83,086,285 |
| TMB | Tambourahmetals | 0.135 | -4% | -7% | -16% | -33% | $5,766,964 |
| WML | Woomera Mining Ltd | 0.0135 | -4% | -16% | -25% | -29% | $10,961,817 |
| LLL | Leolithiumlimited | 0.5875 | -4% | 1% | -20% | 0% | $601,860,716 |
| LIT | Lithium Australia | 0.051 | -4% | -2% | -14% | -59% | $64,641,090 |
| PNN | Power Minerals Ltd | 0.505 | -4% | 15% | -20% | 25% | $37,882,442 |
| NMT | Neometals Ltd | 1.0675 | -4% | 0% | -16% | 14% | $613,104,624 |
| GSM | Golden State Mining | 0.0365 | -4% | -11% | -27% | -68% | $4,446,540 |
| MTM | Mtmongerresources | 0.115 | -4% | 5% | -18% | -28% | $4,501,204 |
| 1MC | Morella Corporation | 0.022 | -4% | 5% | -8% | -65% | $133,435,783 |
| GT1 | Greentechnology | 0.8 | -5% | 7% | 5% | 0% | $160,220,250 |
| ASN | Anson Resources Ltd | 0.29 | -5% | -2% | -21% | 237% | $358,309,090 |
| CZL | Cons Zinc Ltd | 0.0285 | -5% | 30% | 30% | -29% | $13,887,644 |
| LNR | Lanthanein Resources | 0.037 | -5% | 3% | -30% | 95% | $37,550,197 |
| MM1 | Midasmineralsltd | 0.18 | -5% | -10% | -10% | -3% | $10,855,035 |
| CAI | Calidus Resources | 0.355 | -5% | 3% | -36% | -41% | $164,168,139 |
| RDT | Red Dirt Metals Ltd | 0.545 | -6% | -5% | -18% | -26% | $192,557,577 |
| INR | Ioneer Ltd | 0.52 | -6% | -13% | -22% | -26% | $1,164,464,412 |
| DTM | Dart Mining NL | 0.083 | -7% | 6% | -9% | -31% | $13,818,154 |
| EFE | Eastern Resources | 0.038 | -7% | 6% | 23% | -7% | $45,911,430 |
| LRV | Larvottoresources | 0.2075 | -19% | -17% | -1% | 0% | $10,590,788 |
| TSC | Twenty Seven Co. Ltd | 0.002 | -20% | 0% | 0% | -52% | $13,304,070 |
Who’s got news out?
ASKARI METALS (ASX:AS2)
A strategic agreement with Shanghai-listed Zhejiang Kanglongda Special Protection Technology Co, has been signed today with the development of two Australian assets in mind – Barrow Creek in the NT and the Yarrie, Talga East, and Myrnas Hill lithium projects in WA’s eastern Pilbara region.
AS2 says the partnership will assist with the development of these assets with Zhejiang Kanglongda to be provided with a preferred offtake position in relation to commercial production from these projects.
Zhejiang Kanglongda will also assist Askari with lithium chemical downstream processing techniques and opportunities as well as provide access to capital for future development.
PROSPECT RESOURCES (ASX:PSC)
A first-pass drilling program at the Step Aside Project has generated multiple intersections of high-grade lithium with best results including 7.4m at 1.28% Li2O from 43.6m, 6.1m at 1.49% Li2O from 82.2m, 4.4m at 1.43% Li2O from 52.6m, and 4.3m at 1.15% Li2O from 19.2m.
“What the initial drilling has shown us is robust intercepts of strong lithium tenor at relatively shallow depths, in multiple places,” PSC managing director Sam Hosack says.
“This is strongly encouraging and demands further, prompt testing.”
CYGNUS GOLD (ASX:CY5)
Multiple walk-up targets have been identified, including un-mapped pegmatites, over 10km of strike at the Pontax Lithium Project in James Bay, Canada.
With roughly $10m in cash and commitments, CY5 managing director Michael Naylor says it’s going to be an exciting six months as exploration begins to ramp up – culminating in the 10,000m drilling program kicking off in November.
LATIN RESOURCES (ASX:LRS)
Final assays from resource definition drilling at the Colina prospect have returned ‘outstanding’ results up to 10.91m at 1.52% Li2O between 92 and 103.22m, including 5m at 2.01% Li2O between 93 and 98m.
A maiden resource estimate is now on track to be delivered in December.
MARQUEE RESOURCES (ASX:MQR)
The required minimum spend of CAD$2,500,000 at the Kibby Basin Project in Nevada, USA has wrapped up the earn-in agreement with MQR now holding 80% of the project.
MQR says the objective of a current drilling program remains on delineating a lithium-rich brine aquifer deposit, one that is amenable to mining using wells to extract brine for processing to a saleable lithium hydroxide monohydrate product.
Drill hole KB22-02 has been completed at a total depth of 915 meters, targeting a highly conductive geophysical anomaly, which has the signature for a potential lithium enriched brine aquifer beneath the Kibby Playa .
Drill core from KB22-02 has been logged at Belmont’s core cutting facilities nearby with 10pc of it delivered to Paragon Labs for lithium analyses.
SCORPION MINEALS (ASX:SCN)
Initial field reconnaissance has confirmed LCT pegmatite swarms at Poona East and West at the Pharos Project near the WA mining town of Cue.
Individual pegmatites are up to 1000m long, SCN says, and surface exposures suggest widths from 10m to 15m wide.
The pegmatites are shallow dipping and exhibit zonation both of which are important characteristics of significant LCT systems.
“This work has significantly refined our priority targets for upcoming drilling and provide a much clearer understanding of the structural controls at Pharos,” Scorpio’s chairman Bronwyn Barnes explains.
Explore More
Read MoreLithium
