Eye on Lithium: Here are this week’s top lithium stories from around the globe
Mining
Mining
Welcome to your Friday recap, where we give you the highlights of all things lithium that have occurred during the week.
We’ve scoured the googles and the majority of those in the know agree, this week’s been pretty special.
Like this person:
Good morning!
China #lithium spot price continues to rise 💥
Get daily updates via @LithiumPriceBot pic.twitter.com/6r6u8nSymB
— that stock chick (@ausstockchick) May 23, 2023
The big news to the start of the week was Citi analysts being quite confident that lithium prices would continue their bull run to recover by as much as 40% by the end of the year.
US lithium giant and long-time lover of Aussie spodumene, Albemarle, inked a deal with carmaker Ford to supply a cool 100,000t of lithium hydroxide (you know, the refined stuff) in a five-year deal.
That’s enough LiOH to become part of about 3 million Ford EV batteries.
It is unknown if the refined lithium will come from Australia, however we do know the producer has committed to doubling capacity at its Kemerton refinery in WA.
We noted that Australia depends on China for 85% of its raw lithium exports, yet there are changes afoot.
Companies such as Pilbara Minerals (ASX:PLS) are looking for ways to refine in-house before exporting to other countries, cutting China out as the middle-man.
Further to that, a recent G7 summit highlighted bilateral cooperation on the critical minerals front with the US to secure supply chains of lithium and other rare earths.
Chinese battery maker Gotion High Tech unveiled a lithium-manganese-iron-phosphate (LMFP) L600 Astroinno battery that will enable EV’s a range of 1,000km on a single charge.
That’s double today’s standards. But wait, there’s more. Gotion said the potential lifespan of the battery cells was 4 million km.
We’re going to keep an eye on this one, as the batteries are due to be mass-produced sometime next year and could put a rocket under EV sales. Which will put a rocket under demand. Which will put a rocket under explorers, developers and producers alike.
Chile’s state-owned miner Codelco is looking to fast-track an agreement with lithium major SQM to have a say in new lithium contracts.
Codelco is the world’s largest copper producer, and it seems the Chilean government is getting impatient with its mandate to nationalise the sector.
The president of Chile, Gabriel Boric, announced the plan to partly nationalise the country’s lithium sector in April and it seems now it’s strong-arming Codelco to expedite the process.
This could have wider implications for foreign operators in the country such as Albermarle, Rio Tinto and BHP.
Meanwhile, Hyundai and LG Energy Solution just announced that they will build a US$4.3 billion EV battery plant in the state of Georgia.
In a 50/50 JV, they’ll construct a 30 GWh plant to support the production of 300,000 EV’s per annum.
Code Company Price % Today Market Cap AOA Ausmon Resorces 0.004 33% $2,907,868 PAM Pan Asia Metals 0.26 13% $35,711,250 ENT Enterprise Metals 0.0045 13% $2,820,323 ENT Enterprise Metals 0.0045 13% $2,820,323 KTA Krakatoa Resources 0.028 12% $9,084,415 MXR Maximus Resources 0.039 11% $11,166,952 TMB Tambourahmetals 0.1 11% $3,707,334 LPD Lepidico Ltd 0.011 10% $76,377,726 RAG Ragnar Metals Ltd 0.0185 9% $6,446,143 ADV Ardiden Ltd 0.0065 8% $16,130,012 ARN Aldoro Resources 0.13 8% $16,130,849 MTM MTM Critical Metals 0.13 8% $10,602,907 IEC Intra Energy Corp 0.0065 8% $4,234,690 LNR Lanthanein Resources 0.016 7% $16,823,634 VKA Viking Mines Ltd 0.0085 6% $8,202,067 VSR Voltaic Strategic 0.071 6% $24,753,669 SRZ Stellar Resources 0.0105 5% $10,046,309 TYX Tyranna Res Ltd 0.021 5% $48,128,507 NIS Nickelsearch 0.064 5% $3,690,831 INF Infinity Lithium 0.11 5% $48,572,170 WC8 Wildcat Resources 0.071 4% $45,017,545 PSC Prospect Res Ltd 0.135 4% $60,093,730 IMI Infinitymining 0.135 4% $9,942,181 DRE Dreadnought Resources Ltd 0.056 4% $179,697,324 CRR Critical Resources 0.0445 3% $68,574,459 MM1 Midasmineralsltd 0.18 3% $9,998,059 MLS Metals Australia 0.037 3% $21,853,303 EMC Everest Metals Corp 0.087 2% $11,001,814 EMC Everest Metals Corp 0.087 2% $11,001,814 ZEO Zeotech Limited 0.049 2% $78,753,872 AUN Aurumin 0.0275 2% $5,574,837 NVA Nova Minerals Ltd 0.3 2% $62,212,484 CAI Calidus Resources 0.1825 1% $98,886,207 RIO Rio Tinto Limited 106.79 1% $39,126,188,956 AZL Arizona Lithium Ltd 0.0445 1% $118,402,491 A11 Atlantic Lithium 0.615 1% $371,637,413 IGO IGO Limited 14.28 1% $10,753,202,945 AGY Argosy Minerals Ltd 0.4475 1% $624,961,337 CXO Core Lithium 1.005 1% $1,858,516,794 MIN Mineral Resources. 69.67 0% $13,489,093,865 1MC Morella Corporation 0.008 0% $48,788,644 AML Aeon Metals Ltd. 0.018 0% $19,735,211 ASN Anson Resources Ltd 0.18 0% $220,237,309 AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203 EUR European Lithium Ltd 0.1 0% $148,923,918 LPI Lithium Pwr Int Ltd 0.32 0% $201,311,219 LTR Liontown Resources 2.7 0% $5,941,297,242 RLC Reedy Lagoon Corp. 0.006 0% $3,400,318 SYA Sayona Mining Ltd 0.21 0% $1,910,738,158 TKL Traka Resources 0.006 0% $5,227,976 TON Triton Min Ltd 0.033 0% $51,524,735 AX8 Accelerate Resources 0.02 0% $7,552,035 AM7 Arcadia Minerals 0.18 0% $8,405,621 BYH Bryah Resources Ltd 0.017 0% $4,781,309 EMS Eastern Metals 0.05 0% $1,953,221 FG1 Flynngold 0.061 0% $6,275,286 FRS Forrestaniaresources 0.07 0% $4,262,391 LRV Larvottoresources 0.2 0% $13,450,944 MMC Mitremining 0.28 0% $10,705,828 CTN Catalina Resources 0.004 0% $4,953,948 WCN White Cliff Min Ltd 0.0065 0% $6,233,854 WML Woomera Mining Ltd 0.013 0% $12,430,096 KGD Kula Gold Limited 0.014 0% $5,224,967 KZR Kalamazoo Resources 0.13 0% $19,812,826 AZI Altamin Limited 0.075 0% $29,378,756 KAI Kairos Minerals Ltd 0.02 0% $39,281,870 STM Sunstone Metals Ltd 0.026 0% $80,131,607 AVW Avira Resources Ltd 0.003 0% $6,401,370 BNR Bulletin Res Ltd 0.066 0% $19,377,013 MRR Minrex Resources Ltd 0.015 0% $16,273,013 A8G Australasian Metals 0.135 0% $7,036,267 MQR Marquee Resource Ltd 0.027 0% $8,834,603 LSR Lodestar Minerals 0.005 0% $9,216,987 NWM Norwest Minerals 0.03 0% $7,421,136 IPT Impact Minerals 0.011 0% $31,291,743 SRI Sipa Resources Ltd 0.02 0% $4,563,163 VMC Venus Metals Cor Ltd 0.185 0% $33,527,306 RGL Riversgold 0.017 0% $16,072,951 ZNC Zenith Minerals Ltd 0.135 0% $47,571,419 RAS Ragusa Minerals Ltd 0.08 0% $11,407,903 G88 Golden Mile Res Ltd 0.02 0% $5,268,645 EPM Eclipse Metals 0.014 0% $28,392,837 EVR Ev Resources Ltd 0.015 0% $14,039,761 THR Thor Energy PLC 0.005 0% $7,368,064 YAR Yari Minerals Ltd 0.019 0% $9,164,798 LLI Loyal Lithium Ltd 0.32 0% $19,036,800 LRD Lordresourceslimited 0.12 0% $4,455,855 WMC Wiluna Mining Corp 0.205 0% $74,238,031 ALY Alchemy Resource Ltd 0.017 0% $20,027,296 DAF Discovery Alaska Ltd 0.032 0% $7,495,510 FTL Firetail Resources 0.11 0% $8,470,000 IR1 Irismetals 1.16 0% $74,506,800 DAL Dalaroometalsltd 0.062 0% $1,852,250 TKM Trek Metals Ltd 0.067 0% $24,384,321 TUL Tulla Resources 0.32 0% $102,977,281 CMD Cassius Mining Ltd 0.017 0% $6,944,379 SGQ St George Min Ltd 0.046 0% $38,663,485 RMX Red Mount Min Ltd 0.004 0% $9,087,404 FIN FIN Resources Ltd 0.015 0% $9,278,030 DTM Dart Mining NL 0.053 0% $9,131,223 EG1 Evergreenlithium 0.39 0% $21,929,700 FBM Future Battery 0.105 0% $44,923,739 LPM Lithium Plus 0.315 0% $16,029,783 LRD Lordresourceslimited 0.12 0% $4,455,855 WES Wesfarmers Limited 48.9 0% $55,576,968,945 PLL Piedmont Lithium Inc 0.84 -1% $365,698,255 LLO Lion One Metals Ltd 0.795 -1% $9,696,768 LKE Lake Resources 0.535 -1% $768,120,142 PLS Pilbara Min Ltd 4.58 -1% $13,881,583,572 LEL Lithenergy 0.905 -1% $86,934,150 GL1 Globallith 1.35 -1% $353,605,343 WR1 Winsome Resources 1.785 -1% $292,788,178 SCN Scorpion Minerals 0.07 -1% $24,545,140 PGD Peregrine Gold 0.305 -2% $17,391,809 ESS Essential Metals Ltd 0.4525 -2% $123,080,679 OCN Oceanalithiumlimited 0.295 -2% $11,752,950 VUL Vulcan Energy 3.84 -2% $644,506,027 AKE Allkem Limited 14.71 -2% $9,564,871,290 PAT Patriot Lithium 0.245 -2% $15,346,876 QPM Queensland Pacific 0.1175 -2% $209,561,751 EMH European Metals Hldg 0.615 -2% $79,350,995 NMT Neometals Ltd 0.5125 -2% $290,189,117 KOB Kobaresourceslimited 0.18 -3% $19,502,083 LM1 Leeuwin Metals Ltd 0.35 -3% $15,222,600 GT1 Greentechnology 0.69 -3% $135,424,259 JRL Jindalee Resources 2.04 -3% $120,495,829 LIT Lithium Australia 0.034 -3% $42,741,709 INR Ioneer Ltd 0.33 -3% $713,435,011 LLL Leolithiumlimited 0.7225 -3% $735,059,399 DLI Delta Lithium 0.63 -3% $293,098,535 GLN Galan Lithium Ltd 1.0125 -3% $320,726,598 PNN Power Minerals Ltd 0.44 -3% $32,912,099 TEM Tempest Minerals 0.014 -3% $7,348,914 CHR Charger Metals 0.555 -3% $25,135,762 M2R Miramar 0.05 -4% $4,179,851 GW1 Greenwing Resources 0.25 -4% $38,976,542 BMM Balkanminingandmin 0.235 -4% $11,704,143 EFE Eastern Resources 0.0115 -4% $14,903,358 MAN Mandrake Res Ltd 0.041 -5% $25,746,677 QXR Qx Resources Limited 0.038 -5% $35,874,493 AS2 Askarimetalslimited 0.28 -5% $19,878,089 PL3 Patagonia Lithium 0.18 -5% $9,310,665 MNS Magnis Energy Tech 0.16 -6% $185,425,271 LRS Latin Resources Ltd 0.1775 -7% $482,756,101 CY5 Cygnus Metals Ltd 0.2 -7% $46,040,253 LIS Lisenergylimited 0.265 -7% $47,285,543 BUR Burleyminerals 0.235 -8% $17,611,693 GSM Golden State Mining 0.032 -9% $4,095,497 XTC Xantippe Res Ltd 0.0045 -10% $57,400,498 AAJ Aruma Resources Ltd 0.065 -14% $11,929,074
38 lithium stocks leapt in price today, 66 broke even and 45 dipped.
Yet another ASX-listed explorer is off to Canada. BLZ has entered agreement to buy 340sqkm at the greenfields North Spirit lithium project in Ontario, near Patriot Lithium’s (ASX:PAT) tenements.
The acquisition will cost BLZ an initial $100,000 cash and $550,000 worth of shares (55m shares at 1c). The company will then pay an additional $2.65m cash and $5.95m shares in staged payments right up to the release of a mining feasibility study.
The vendor will also retain a 2% net smelter royalty (NSR) should the project enter production.
Word is SYA has engaged its broker Petra Capital to raise $200m for work at its North American Lithium (NAL) project in Quebec where it produced first lithium concentrate back in March.
NAL has a nameplate capacity of up to 226,000t.
The funds are likely to be used towards further work at the NAL project, as well as other exploration work nearby. Stay tuned for more news on this one, because it’s likely to get a few ASX-listed explorers in a frenzy over the coming months.
EQN has found that early desktop studies on its Dome and Larder Lake projects in Ontario indicate they’re highly prospective for Lithium-caesium-tantalum (LCT) bearing pegmatites.
Both areas are historically underexplored for lithium.
Dome Lake comprises of 783 claims covering an area of 160km2 and located within the prospective Wabigoon Subprovince on the Eastern Margin of the Onaman-Tashota Greenstone Belt within the Willet Assemblage.
Larder Lake consists of 585 claims covering 121km2 and is located within the Quetico subprovince near the Case Batholith region.
The Case Batholith complex is an S-Type LCT granite with well documented Spodumene bearing pegmatites.
While in the early stages at the moment, the explorer seems very encouraged with what it’s looking at, as it’s currently fast-tracking further desktop studies to expedite early exploration work.
This includes First Nations engagement, exploration permit approvals, target mapping, field reconnaissance for rock chip sampling, aerial surveys, lidar analysis and other associated exploration works.