• Lithium Americas boosts Thacker Pass resource in Nevada, USA, to 14.3Mt LCE
  • Project takes the title as world’s largest measured lithium reserve and resource
  • ASX juniors in the region have welcomed the update

 

Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.

 

Lithium Americas (TSE:LAC) has increased the proven and probable mineral resource at its Thacker Pass project in Nevada, USA, to 14.3Mt lithium carbonate equivalent (LCE) at an average grade of 2540ppm Li in a move that makes Thacker Pass now the largest known lithium resource in the world.

It’s an increase of 286% since the November 2022 feasibility study, which the company says supports an expansion of up to five phases with a frankly quite ridiculous 85-year mine life.

The update also included a measured and indicated resource estimate of 44.5 Mt LCE at an average grade of 2230 ppm Li – a 177% jump.

A technical report was delivered in lockstep, detailing how the project is set to produce 160,000 tonnes-per-year of battery-quality lithium carbonate production in four phases, a doubling of planned production capacity from the previous feasibility study.

For context, that level of production could support the lithium needs for up to 800,000 electric vehicles annually.

The construction of each phase will be four years apart, with a fifth phase consisting of a 3000 t/d sulphuric acid plant and a brine plant to supplement feed to the processing plants of phases 1 through 4.

Phase 1 is expected to create nearly 2000 jobs during construction and approximately 350 full-time jobs during operations.

And over the life of mine, an average of approximately 1100 full-time employees are expected to support mining and processing operations.

President and CEO Jonathan Evans said the update demonstrates “the multigenerational opportunity for transformational growth the project creates.” No kidding.

“Thacker Pass is now the largest measured lithium reserve and resource in the world and has the potential to become an unmatched district, generating American jobs and helping the U.S. regain independence of its energy supply,” he said.

“We are committed to safely and sustainably developing Thacker Pass while engaging with our stakeholders to increase domestic production of critical minerals.”

 

Production expansion hinges on higher lithium prices

 

Notably, both the base case and production scenario use a price assumption of $24,000 per tonne of Li2CO3.

This didn’t escape the notice of Canaccord Genuity, who released a research note, maintaining their speculative buy rating at a target price of C$8.50 (compared to the current share price of C$4.97).

The research firm also delved into the resource update and technical report – which outlined an expanded production scenario to 160ktpa Li2CO3.

“The technical report used a long-term lithium carbonate price of $24,000/t, more than double current spot (Asian Metals ~$10k/t),” Canaccord’s Katie Lachapelle said.

“Under this pricing scenario, the expanded base case mine plan (years 1-85) resulted in an after-tax NPV8 of $8.7 billion and an IRR of 20%.”

The company also published the economic results for years 1-25, which reflect an optimized production scenario; resulting in an after-tax NPV8 of $5.9 billion and an IRR of 19.6%.

“At this stage, we view today’s resource update as positive; however, we have yet to factor in LAC’s expanded production scenario into our model,” the research firm said.

“In our view, any production expansion will be highly predicated on higher lithium prices and positive execution of Phase 1 (validating CapEx and OpEx parameters).”

Canaccord said they believe investors are focused on the execution of Phase 1 (as opposed to future expansions).

“Accordingly, we have not yet attributed value to Phases 3-5. Our SPEC BUY rating is based on the implied 71% return to our C$8.50 target,” they said.

Lithium Americas is chasing a final investment decision for the project early this year, and with construction of phase 1 already underway, is targeting first production in late 2027.

 

ASX juniors with a stake in the region

 

There are a few ASX players with a stake in the same region as LAC, including Jindalee Lithium (ASX:JLL), whose McDermitt project is located on the famously lithium-enriched caldera that hosts the sedimentary Thacker Pass and contains 21.5 million tonnes of lithium carbonate equivalent, with an indicated and inferred resource of 3Bt at 1340ppm lithium.

That makes it, Jindalee says, the largest lithium deposit in the US by contained lithium in resource – as opposed to LAC having the largest measured reserve and resource in the world.

Chariot Corporation (ASX:CC9) has the Resurgent project in the same McDermitt Caldera, where the highest grade surface sample is 3865 ppm Li, which is around three times the typical lithium claystone resource cut-off grade.

Plus 20 surface samples at the project have returned values greater than 1000ppm Li, so the company is keen to get drilling once it secures approval at Resurgent North, which abuts Jindalee’s project and sits just over the border in the State of Oregon.

Then there’s Deterra Royalties (ASX:DRR), which holds a 4.8% gross revenue royalty over Thacker Pass. That will reduce to 1.05% gross revenue royalty, after the expected exercise of a partial royalty buyback, which would see US$13.2 million paid to Deterra).

“For no additional capital outlay by Deterra, our economic interest has increased substantially as Thacker Pass has grown to have the largest global lithium resource and reserve, doubled the planned production profile, and increased the life-of-mine to 85-years while maintaining an exceptionally competitive operating cost profile,” DRR managing director and CEO Julian Andrews said.

“Project updates such as this – coupled with the recent completion of a US$2.3 billion U.S. Department of Energy loan and US$625 million JV investment by General Motors – highlights the strategic importance of Thacker Pass in meeting growing domestic requirements in the US.

“Further, it underscores the benefit of acquiring royalties over globally significant tier-1 projects which have the scope to become generational assets.

“We look forward to further updates as Lithium Americas advances toward becoming one of the world’s largest lithium producers.”

Lithium prices have been depressed for the past couple years, with demand growth from the EV market unable to keep pace with supply growth from China and Africa. A major new orebody could be opened up next year, with Bloomberg reporting Chinese mining giant Zijin’s plans to start production at Manono in the DRC next year, a massive orebody currently the subject of an arbitration dispute with Australia’s AVZ Minerals.

But the US Government has shown its intention to support local producers, notably via a conditional loan to help fund ASX-listed ioneer’s (ASX:INR) Rhyolite Ridge project in Nevada.

Battery Metals Winners and Losers

 

Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese and vanadium is performing >>>

 

Code Company Price % Week % Month % Six Month % Year Market Cap
XTC XTC Lithium Limited 0.2 19900% 19900% 19900% 19900% $17,528,272
ETM Energy Transition 0.067 72% 158% 191% 56% $73,252,851
RLC Reedy Lagoon Corp. 0.003 50% 50% 0% -40% $2,330,120
M2R Miramar 0.0045 50% 13% -55% -79% $1,785,705
1AE Auroraenergymetals 0.062 38% 19% -2% -50% $11,101,952
AUZ Australian Mines Ltd 0.012 33% 9% 50% 20% $11,188,097
BYH Bryah Resources Ltd 0.004 33% 0% -20% -71% $2,013,147
ASO Aston Minerals Ltd 0.012 33% 33% 20% -45% $16,835,835
AOA Ausmon Resorces 0.002 33% 0% -20% -33% $2,179,455
MHC Manhattan Corp Ltd 0.025 32% 4% 0% -50% $5,167,776
LRV Larvottoresources 0.65 31% 18% 400% 829% $231,356,223
SMX Strata Minerals 0.026 30% 44% 18% -43% $3,625,488
GCM Green Critical Min 0.018 29% 200% 260% 100% $36,243,513
GAL Galileo Mining Ltd 0.16 28% 45% -22% -42% $31,619,988
FBM Future Battery 0.023 28% 21% -23% -69% $13,972,474
DM1 Desert Metals 0.028 27% 12% 33% -42% $7,487,919
VML Vital Metals Limited 0.0025 25% 25% -17% -58% $14,737,667
MEK Meeka Metals Limited 0.095 23% 16% 197% 157% $212,913,923
QEM QEM Limited 0.064 23% 68% -52% -66% $10,877,520
CY5 Cygnus Metals Ltd 0.12 20% 0% 155% -4% $97,556,760
WCN White Cliff Min Ltd 0.019 19% 12% 36% 111% $32,138,003
FGR First Graphene Ltd 0.032 19% 10% -37% -51% $21,439,664
SRI Sipa Resources Ltd 0.014 17% 8% -26% -46% $3,988,364
ESR Estrella Res Ltd 0.023 15% 21% 475% 360% $45,624,925
PVT Pivotal Metals Ltd 0.008 14% -11% -64% -62% $7,257,807
EFE Eastern Resources 0.032 14% -24% -42% -64% $4,034,878
EMS Eastern Metals 0.016 14% 23% -47% -56% $1,818,820
NWM Norwest Minerals 0.016 14% -20% -47% -50% $7,761,912
LTR Liontown Resources 0.5975 14% -4% -35% -62% $1,383,167,269
SCN Scorpion Minerals 0.017 13% 55% -6% -48% $6,960,755
SUM Summitminerals 0.17 13% 6% -42% 75% $16,402,318
SLM Solismineralsltd 0.079 13% -6% -8% -46% $6,100,999
ICL Iceni Gold 0.08 13% 18% -10% 23% $27,093,922
LU7 Lithium Universe Ltd 0.009 13% 13% -43% -71% $7,073,817
MHK Metalhawk. 0.315 13% -7% 556% 142% $32,732,301
BCA Black Canyon Limited 0.073 12% 3% -19% -48% $7,744,134
SYR Syrah Resources 0.23 12% -4% -31% -61% $227,676,189
SYR Syrah Resources 0.23 12% -4% -31% -61% $227,676,189
OCN Oceanalithiumlimited 0.029 12% 7% -9% -70% $3,987,395
LOT Lotus Resources Ltd 0.2225 11% -5% -33% -25% $543,409,947
ASL Andean Silver 0.9 11% -13% 9% 275% $143,447,986
REC Rechargemetals 0.02 11% -20% -39% -81% $5,129,799
BUR Burleyminerals 0.081 11% 45% -42% -51% $12,180,046
NVX Novonix Limited 0.81 10% 21% 15% 18% $451,513,884
IPT Impact Minerals 0.011 10% -4% -27% -8% $32,124,054
TVN Tivan Limited 0.11 10% 43% 64% 75% $210,095,946
GW1 Greenwing Resources 0.045 10% 10% 2% -65% $10,829,317
EUR European Lithium Ltd 0.046 10% -26% -15% -49% $65,033,166
TMB Tambourahmetals 0.023 10% -15% -58% -80% $2,654,161
NMT Neometals Ltd 0.082 9% 3% -13% -55% $63,862,282
RAS Ragusa Minerals Ltd 0.012 9% -8% -25% -70% $1,711,185
ITM Itech Minerals Ltd 0.06 9% 2% -20% -48% $9,390,446
QPM QPM Energy Limited 0.061 9% 15% 69% 17% $156,319,095
BC8 Black Cat Syndicate 0.615 9% -16% 71% 156% $350,070,286
LYC Lynas Rare Earths 6.995 9% 1% 7% 4% $6,571,068,841
AGY Argosy Minerals Ltd 0.031 9% 7% -66% -77% $43,677,628
BMM Bayanminingandmin 0.051 9% -2% -11% -54% $4,388,066
CRR Critical Resources 0.0065 8% 8% -28% -68% $12,159,816
KAI Kairos Minerals Ltd 0.013 8% -13% 44% -7% $36,832,771
ODE Odessa Minerals Ltd 0.0065 8% 8% 63% -19% $11,196,728
CRI Criticalim 0.013 8% 18% -32% 86% $37,412,417
M24 Mamba Exploration 0.013 8% 18% -13% -80% $3,054,445
PTR Petratherm Ltd 0.33 8% 6% 1335% 871% $98,942,908
KZR Kalamazoo Resources 0.08 8% -4% 0% -48% $15,652,834
E25 Element 25 Ltd 0.275 8% 4% 34% -32% $64,874,158
RXL Rox Resources 0.215 8% 13% 54% 17% $110,709,134
MQR Marquee Resource Ltd 0.015 7% 15% 25% -46% $5,829,381
MRR Minrex Resources Ltd 0.0075 7% -6% -12% -53% $8,136,506
PGD Peregrine Gold 0.15 7% 15% -23% -50% $10,181,763
GBR Greatbould Resources 0.046 7% 0% -18% -27% $36,436,816
NVA Nova Minerals Ltd 0.395 7% 65% 61% 10% $114,834,265
IGO IGO Limited 5.09 7% 1% -14% -41% $3,748,475,674
EMH European Metals Hldg 0.165 6% 18% -43% -59% $31,116,706
LIT Livium Ltd 0.017 6% 0% -11% -43% $22,780,186
HAS Hastings Tech Met 0.345 6% 8% 3% -49% $60,764,355
WA1 Wa1Resourcesltd 14.04 6% 4% -34% 6% $973,075,701
PLS Pilbara Min Ltd 2.32 6% 3% -23% -41% $6,838,168,135
PGM Platina Resources 0.018 6% -14% -28% -10% $11,217,246
NH3 Nh3Cleanenergyltd 0.019 6% -10% 27% 58% $10,336,935
WC1 Westcobarmetals 0.019 6% 6% -42% -74% $3,166,423
DYM Dynamicmetalslimited 0.29 5% 35% 100% 53% $10,440,000
BOA BOA Resources Ltd 0.02 5% -13% -20% -41% $2,467,057
CAE Cannindah Resources 0.041 5% 0% -39% -56% $29,851,278
FRB Firebird Metals 0.105 5% 5% -28% -22% $14,947,947
MTM MTM Critical Metals 0.2725 5% 51% 581% 127% $109,999,899
TKM Trek Metals Ltd 0.022 5% -12% -37% -44% $10,922,580
MAN Mandrake Res Ltd 0.023 5% 5% -18% -44% $14,426,978
S2R S2 Resources 0.07 4% 11% -30% -55% $31,700,060
GT1 Greentechnology 0.072 4% 18% -6% -73% $27,990,151
ILU Iluka Resources 5.265 4% 7% -23% -17% $2,222,614,049
OD6 Od6Metalsltd 0.05 4% 56% 22% -64% $6,434,509
KM1 Kalimetalslimited 0.125 4% -7% -50% -50% $9,603,453
KOB Kobaresourceslimited 0.076 4% 0% -49% 7% $11,892,121
MIN Mineral Resources. 35.46 4% 2% -39% -48% $6,764,170,350
PLL Piedmont Lithium Inc 0.15 3% -17% -3% -61% $99,293,977
EMN Euromanganese 0.03 3% -29% -59% -69% $6,324,990
LTM Arcadium Lithium PLC 8.47 3% 7% 64% -15% $2,072,054,342
GRE Greentechmetals 0.072 3% -9% -50% -83% $6,724,258
LIN Lindian Resources 0.08 3% -11% -43% -48% $93,386,701
CHN Chalice Mining Ltd 1.1325 2% -14% -15% -20% $433,764,869
PMT Patriotbatterymetals 0.415 2% 32% -24% -60% $231,421,968
HAW Hawthorn Resources 0.042 2% 0% -30% -60% $13,735,640
LKE Lake Resources 0.043 2% -2% 5% -67% $71,222,166
LLI Loyal Lithium Ltd 0.1125 2% 2% -25% -75% $11,584,302
CXO Core Lithium 0.091 2% 1% 0% -60% $192,871,399
PAT Patriot Lithium 0.046 2% 7% -10% -74% $5,688,808
DVP Develop Global Ltd 2.39 2% 7% 9% -10% $654,569,629
SRL Sunrise 0.24 2% 7% -41% -48% $21,654,600
IG6 Internationalgraphit 0.051 2% -4% -41% -65% $9,871,475
ARR American Rare Earths 0.27 2% 2% -7% 74% $136,734,291
VUL Vulcan Energy 5.45 2% -9% 11% 121% $1,164,886,041
IDA Indiana Resources 0.062 2% -2% 34% 34% $39,206,680
RNU Renascor Res Ltd 0.063 2% 2% -31% -48% $160,148,026
LRS Latin Resources Ltd 0.1625 2% 5% -7% -31% $434,220,017
ARL Ardea Resources Ltd 0.335 2% 3% -29% -29% $66,893,777
OMH OM Holdings Limited 0.37 1% 9% -16% -24% $283,515,016
MLX Metals X Limited 0.42 1% 5% -2% 56% $363,767,568
WR1 Winsome Resources 0.44 1% 2% -41% -55% $93,191,983
PNN Power Minerals Ltd 0.093 1% -2% -40% -55% $10,588,503
S32 South32 Limited 3.42 1% -6% -10% 5% $15,359,213,659
PVW PVW Res Ltd 0.015 0% -17% -29% -66% $2,983,572
A8G Australasian Metals 0.079 0% -8% 5% -47% $3,909,037
PSC Prospect Res Ltd 0.088 0% -8% -35% -3% $51,455,138
NWC New World Resources 0.018 0% 0% -47% -58% $48,284,789
LPD Lepidico Ltd 0.002 0% 0% 0% -74% $17,178,371
MRD Mount Ridley Mines 0.003 0% -70% -70% -85% $2,335,467
CZN Corazon Ltd 0.002 0% 0% -60% -88% $2,335,811
INR Ioneer Ltd 0.16 0% -9% 14% 14% $388,685,965
MNS Magnis Energy Tech 0.042 0% 0% 0% 0% $50,378,922
BKT Black Rock Mining 0.034 0% 0% -41% -59% $43,821,700
GLN Galan Lithium Ltd 0.14 0% 17% -13% -79% $106,799,683
SBR Sabre Resources 0.01 0% 0% -38% -66% $3,929,619
VRC Volt Resources Ltd 0.003 0% 0% -33% -50% $12,639,719
GED Golden Deeps 0.025 0% -11% -24% -44% $3,636,536
ADV Ardiden Ltd 0.135 0% 4% -4% -27% $8,439,863
AAJ Aruma Resources Ltd 0.012 0% -8% 9% -56% $2,664,698
IXR Ionic Rare Earths 0.007 0% 0% -36% -70% $31,370,570
CWX Carawine Resources 0.1 0% 5% 20% -9% $23,612,545
TKL Traka Resources 0.001 0% 0% -50% -67% $2,125,790
PRL Province Resources 0.041 0% 0% 0% 0% $48,441,219
JRV Jervois Global Ltd 0.011 0% 0% -45% -74% $29,730,402
ADD Adavale Resource Ltd 0.003 0% 50% -25% -57% $4,622,496
BSX Blackstone Ltd 0.028 0% 0% -36% -58% $16,064,919
POS Poseidon Nick Ltd 0.004 0% 0% -3% -64% $16,815,538
SYA Sayona Mining Ltd 0.027 0% -10% -21% -56% $311,668,992
ATM Aneka Tambang 0.9 0% -4% -16% -24% $1,173,284
ALY Alchemy Resource Ltd 0.007 0% 17% 17% -30% $8,246,534
LEL Lithenergy 0.37 0% 0% 0% -34% $41,440,581
RMX Red Mount Min Ltd 0.009 0% 0% -10% -66% $4,417,099
AQD Ausquest Limited 0.008 0% -27% -36% -17% $9,039,478
1MC Morella Corporation 0.029 0% -3% -52% -79% $9,577,700
REE Rarex Limited 0.009 0% -10% -36% -67% $8,008,458
MRC Mineral Commodities 0.026 0% 0% 13% -21% $25,596,288
PEK Peak Rare Earths Ltd 0.12 0% 4% -43% -67% $40,157,170
MOH Moho Resources 0.005 0% 11% -17% -50% $3,582,373
AML Aeon Metals Ltd. 0.005 0% 0% -17% -50% $5,482,003
G88 Golden Mile Res Ltd 0.009 0% -10% -22% -50% $4,255,406
WKT Walkabout Resources 0.095 0% 0% -16% -32% $63,769,838
ARU Arafura Rare Earths 0.115 0% 0% -43% -28% $271,076,156
CNJ Conico Ltd 0.009 0% -10% -10% -80% $2,137,386
MLS Metals Australia 0.023 0% -8% 10% -36% $16,726,049
CNB Carnaby Resource Ltd 0.345 0% -5% -36% -55% $71,998,721
AX8 Accelerate Resources 0.007 0% 0% -74% -82% $4,352,278
AM7 Arcadia Minerals 0.019 0% -14% -51% -72% $2,230,285
AS2 Askarimetalslimited 0.012 0% -8% -77% -93% $2,624,702
DTM Dart Mining NL 0.009 0% -18% -51% -39% $4,784,445
FG1 Flynngold 0.025 0% -11% 4% -43% $6,794,228
GSM Golden State Mining 0.008 0% -11% -20% -47% $2,234,965
CTN Catalina Resources 0.004 0% 60% 33% 0% $4,975,048
TEM Tempest Minerals 0.005 0% 0% -38% -35% $3,172,649
EMC Everest Metals Corp 0.135 0% 0% 4% 71% $29,091,899
OB1 Orbminco Limited 0.002 0% 0% -33% -92% $3,249,885
LMG Latrobe Magnesium 0.02 0% -20% -56% -67% $46,970,748
KOR Korab Resources 0.008 0% 0% -11% -56% $2,936,400
CMX Chemxmaterials 0.026 0% -19% -41% -68% $3,354,580
ENV Enova Mining Limited 0.005 0% -38% -58% -76% $4,924,647
RBX Resource B 0.036 0% -10% 6% -51% $4,146,641
RR1 Reach Resources Ltd 0.008 0% 14% -43% -61% $6,121,019
EMT Emetals Limited 0.004 0% -20% 0% -43% $3,400,000
AVW Avira Resources Ltd 0.001 0% 0% 0% -33% $2,938,790
CAI Calidus Resources 0.115 0% 0% 0% -44% $93,678,206
RGL Riversgold 0.004 0% 0% -27% -69% $6,734,850
SRZ Stellar Resources 0.016 0% 0% -20% 100% $31,196,259
THR Thor Energy PLC 0.013 0% -7% -7% -57% $3,807,085
YAR Yari Minerals Ltd 0.003 0% 0% -25% -73% $1,447,073
LPM Lithium Plus 0.087 0% -11% -38% -73% $11,557,080
AZI Altamin Limited 0.022 0% -19% -36% -55% $12,639,064
CLZ Classic Min Ltd 0.001 0% 0% 0% -98% $1,544,026
HRE Heavy Rare Earths 0.031 0% -3% -5% -48% $4,961,050
PEK Peak Rare Earths Ltd 0.12 0% 4% -43% -67% $40,157,170
TAR Taruga Minerals 0.01 0% -5% 43% -17% $7,060,268
RR1 Reach Resources Ltd 0.008 0% 14% -43% -61% $6,121,019
CDT Castle Minerals 0.002 0% 0% -50% -78% $3,793,628
KNI Kunikolimited 0.17 0% -15% -26% -41% $14,750,776
PBL Parabellumresources 0.054 0% 6% 38% -10% $3,364,200
L1M Lightning Minerals 0.072 0% 0% 3% -42% $7,439,639
EV1 Evolutionenergy 0.022 0% -12% -27% -84% $7,932,477
OM1 Omnia Metals Group 0.078 0% 0% 0% 0% $4,550,568
LLL Leolithiumlimited 0.505 0% 0% 0% 0% $605,458,342
TOR Torque Met 0.053 0% 6% -56% -76% $13,232,188
TMX Terrain Minerals 0.003 0% -14% -14% -40% $5,432,086
FIN FIN Resources Ltd 0.004 0% -20% -43% -83% $2,597,075
ASR Asra Minerals Ltd 0.003 0% 0% -33% -50% $6,937,890
BHP BHP Group Limited 39.51 0% -3% -11% -19% $196,359,975,976
PUR Pursuit Minerals 0.095 -1% -21% -24% -76% $7,843,893
MEI Meteoric Resources 0.084 -1% -10% -53% -71% $195,743,336
NIC Nickel Industries 0.81 -2% -8% -1% 23% $3,410,398,855
JLL Jindalee Lithium Ltd 0.215 -2% 5% -30% -77% $16,190,207
EGR Ecograf Limited 0.086 -2% -18% -25% -43% $39,055,336
BUX Buxton Resources Ltd 0.04 -2% -5% -49% -76% $8,891,299
ABX ABX Group Limited 0.04 -2% 3% -20% -44% $10,011,738
BNR Bulletin Res Ltd 0.038 -3% -5% -7% -74% $11,157,306
RAG Ragnar Metals Ltd 0.019 -3% -5% 6% -17% $9,005,734
GL1 Globallith 0.175 -3% -22% -36% -84% $44,494,461
WIN WIN Metals 0.0175 -3% -8% -38% -79% $9,350,988
CTM Centaurus Metals Ltd 0.345 -3% -17% -22% -33% $168,878,412
DLI Delta Lithium 0.165 -3% -3% -39% -61% $121,812,105
EG1 Evergreenlithium 0.058 -3% -17% -11% -66% $3,261,340
JMS Jupiter Mines. 0.14 -3% -3% -48% -20% $284,351,055
STK Strickland Metals 0.082 -4% -8% -25% -34% $187,630,253
INF Infinity Lithium 0.027 -4% -10% -48% -72% $12,489,987
WC8 Wildcat Resources 0.265 -4% 15% -13% -62% $339,732,548
ASM Ausstratmaterials 0.51 -4% 2% -45% -59% $93,379,613
AZL Arizona Lithium Ltd 0.012 -4% -8% -37% -61% $58,159,589
DRE Dreadnought Resources Ltd 0.0115 -4% -18% -48% -60% $45,213,600
ANX Anax Metals Ltd 0.0115 -4% 28% -50% -62% $9,640,969
IPX Iperionx Limited 5.26 -4% 14% 127% 251% $1,756,105,139
COB Cobalt Blue Ltd 0.065 -4% -4% -27% -73% $28,323,394
TLG Talga Group Ltd 0.42 -5% -7% -26% -42% $184,611,613
NTU Northern Min Ltd 0.02 -5% -17% -41% -33% $165,973,932
KTA Krakatoa Resources 0.009 -5% -18% -31% -77% $5,311,206
PAM Pan Asia Metals 0.053 -7% -10% -67% -70% $10,723,171
AVL Aust Vanadium Ltd 0.013 -7% 0% -13% -43% $120,885,213
ASN Anson Resources Ltd 0.065 -7% 5% -50% -50% $94,156,418
LSR Lodestar Minerals 0.013 -7% -35% -35% -80% $2,517,021
VTM Victory Metals Ltd 0.375 -7% -6% 10% 92% $41,231,031
ZNC Zenith Minerals Ltd 0.037 -8% -12% -23% -73% $15,075,333
AR3 Austrare 0.097 -8% -16% 20% -33% $15,104,024
BM8 Battery Age Minerals 0.097 -8% -19% -45% -56% $10,017,592
DEV Devex Resources Ltd 0.086 -9% -18% -72% -70% $36,660,326
AXN Alliance Nickel Ltd 0.032 -9% -14% -16% -24% $23,226,868
VMC Venus Metals Cor Ltd 0.061 -9% -6% -12% -39% $11,963,850
CLA Celsius Resource Ltd 0.01 -9% -9% -33% -23% $26,692,385
IMI Infinitymining 0.01 -9% -29% -50% -92% $4,210,158
CMO Cosmometalslimited 0.02 -9% 11% -52% -67% $2,881,843
PNT Panthermetalsltd 0.01 -9% -41% -57% -76% $2,481,708
VHM Vhmlimited 0.375 -9% -5% -22% -45% $65,138,524
RON Roninresourcesltd 0.2 -9% 25% 60% 11% $8,075,002
VR8 Vanadium Resources 0.028 -10% -20% -52% -49% $16,878,756
KFM Kingfisher Mining 0.036 -10% -20% -39% -76% $1,933,740
LCY Legacy Iron Ore 0.009 -10% -10% -33% -45% $87,858,383
GRL Godolphin Resources 0.013 -10% -19% -28% -68% $4,667,242
ARN Aldoro Resources 0.34 -11% 48% 372% 196% $45,772,073
EVG Evion Group NL 0.024 -11% -17% 26% -31% $8,327,116
TON Triton Min Ltd 0.008 -11% 33% -20% -64% $14,115,499
AKN Auking Mining Ltd 0.004 -11% -11% -79% -91% $1,664,829
PFE Pantera Lithium 0.016 -11% -11% -52% -66% $8,054,323
FTL Firetail Resources 0.07 -11% -20% -30% -2% $23,206,958
KGD Kula Gold Limited 0.005 -12% -24% -47% -69% $3,644,696
CHR Charger Metals 0.06 -12% -13% -10% -65% $5,032,316
WSR Westar Resources 0.007 -13% -7% -30% -63% $2,791,074
RVT Richmond Vanadium 0.205 -13% -21% -33% -29% $46,585,000
NC1 Nicoresourceslimited 0.091 -13% -13% -39% -73% $9,960,002
WMG Western Mines 0.13 -13% -21% -59% -47% $11,294,168
FRS Forrestaniaresources 0.012 -14% -20% -64% -60% $3,373,659
STM Sunstone Metals Ltd 0.006 -14% -14% -33% -57% $30,899,422
SRN Surefire Rescs NL 0.003 -14% -40% -57% -67% $7,248,923
LM1 Leeuwin Metals Ltd 0.12 -14% 100% 135% -14% $5,153,684
SGQ St George Min Ltd 0.021 -16% -16% -21% -40% $24,770,809
AXE Archer Materials 0.485 -16% 70% 23% 23% $115,955,391
LML Lincoln Minerals 0.005 -17% -17% -17% -17% $10,281,298
LEG Legend Mining 0.01 -17% 0% -17% -29% $29,094,772
SLZ Sultan Resources Ltd 0.005 -17% -17% -38% -73% $1,157,350
LNR Lanthanein Resources 0.0025 -17% -17% -38% -77% $7,330,908
LNR Lanthanein Resources 0.0025 -17% -17% -38% -77% $7,330,908
A11 Atlantic Lithium 0.27 -19% 20% -32% -36% $194,081,248
EVR Ev Resources Ltd 0.002 -20% -33% -56% -82% $3,625,007
QXR Qx Resources Limited 0.003 -25% -33% -50% -88% $5,120,311
ENT Enterprise Metals 0.003 -25% 0% 0% -25% $3,534,952
KNG Kingsland Minerals 0.11 -27% -27% -48% -63% $7,981,700
RIL Redivium Limited 0.0025 -38% -38% 0% -20% $8,485,889
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Weekly Small Cap Standouts

 

Australian Mines (ASX:AUZ)

Australian Mines has close to doubled its scandium resource at the Flemington project in New South Wales, placing the company at the centre of Aussie hopes to become a new source of the rare but critical metal.

The project’s estimated inventory has lifted from 3.7Mt at 458 ppm to 6.3Mt at 446 ppm (300ppm cut-off), with an impressive 98% of that classified as measured and indicated.

That classification means drilling has been conducted with enough density to include the resources in a future mine plan.

Plus, 90% of the resource is located within 50m at surface, presenting a compelling development opportunity for the company at a time when rising demand and Chinese control over the critical mineral (around 80% of global supply) has shone the spotlight onto Aussie production.

The US Geological Survey estimates that scandium supply and demand has doubled, from 15-25 tonnes in 2021, to 30-40 tonnes in 2023, and according to Mordor Intelligence the market is expected to expand at a compound annual growth rate of 14.7% through to 2030.

Along with the contained scandium, the resource also has a nickel grade of 1350ppm and a cobalt grade of 601ppm, highlighting the project’s by-product potential.

The company says the modelling indicates there’s “significant additional mineralisation at lower cut-offs”.

At a 100ppm cut-off for scandium the total mineralised inventory stands at a whopping 28Mt at 217ppm scandium (inclusive of laterite and saprolite). Compare that to October 2017 when the total mineralised inventory reported was 4.5Mt with an average grade of 415ppm scandium.

 

QEM (ASX:QEM)

QEM has welcomed the decision from the Commonwealth Government declaring its Julia Creek vanadium and energy project a ‘controlled action’ – a move that solidifies the approval pathway for the critical minerals project.

A controlled action is a project that is likely to have a significant impact on one or more of the nine matters of national environmental significance – which includes national heritage places, water resources, threatened species, the Great Barrier Reef and more.

The Department of Climate Change, Energy, the Environment and Water (DCCEW) also determined that the project’s environmental approvals pathway will be assessed under the bilateral agreement between the Commonwealth and Queensland governments.

This bilateral agreement streamlines environmental assessment processes for projects that require both Commonwealth and State approvals, reducing duplication and improving efficiency, and streamlines the process of issuing an Environmental Impact Statement (EIS).

The Julia Creek project would see a greenfield vanadium and oil shale mine along with processing facilities, with a recent scoping study detailing a 30-year mine schedule with a production target of approximately 10,571 tonnes of vanadium pentoxide (99.95% pure) and 313 million litres of transport fuel per annum over the life of mine.

 

Summit Minerals (ASX:SUM)

Summit Minerals has executed an agreement to acquire the advanced Mundo Novo niobium and rare earths project in central Brazil.

The project has proven ionic adsorption clay-hosted REE, niobium and phosphate-rich oxide mineralisation from surface with multiple zones offering multi-commodity exposure.

Limited shallow drilling to date has returned assays from surface such as 51m grading 10,000 parts per million total rare earth oxides, 15m at 12,200ppm TREO and 20m at 12,100ppm TREO.

Many holes have ended in mineralisation and remain open.

Drilling has also intersected high-grade niobium with an assay of 9m at 1.23% Nb2O5 from 2m including 4m at 1.62% Nb2O5.

Initial studies by the company have indicated that it is an IAC-style REE deposit similar to Meteoric Resources’ (ASX:MEI) Poços de Caldas alkaline carbonatite complex while its niobium potential mirrors that of the Morro Preto deposit in the Catalão Complex.

“Mundo Novo has shown substantial potential for niobium, rare earth element, and phosphate mineralisation, as evidenced by past drilling results that revealed considerable intercept widths,” MD Gower He said.

“The project’s geological potential aligns perfectly with our strategy to develop high-quality projects in Brazil that supply critical metals for the electric vehicle (EV) market and other clean energy applications.

“This project represents an outstanding addition to the company; upon completion, the company will have added a drill-ready niobium carbonatite project to its existing suite of Brazilian assets.”

 

Syrah Resources (ASX:SYR)

The company secured a loan waiver from the US government’s development bank, the United States International Development Finance Corporation. The waiver, valued at US$53 million, comes after civil unrest in Mozambique halted production at its Balama graphite mine.

SYH also has a downstream active anode material facility in the United States, but says operating conditions in Mozambique are challenging with ongoing nationwide protests associated with general elections causing widespread disruptions throughout the country.

 

Novonix (ASX:NVX)

The battery materials company has announced the location for a new synthetic graphite manufacturing plant in Tennessee, its second mass production plant – called Enterprise South – in the state.

The plant is expected to reach full production capacity of 31,500tpa by the end of 2028 and is anticipated to create 500 full-time jobs.

The facility, together with the existing 20,000tpa facility at Riverside in Chattanooga, is planned to bring the company’s total production capacity to over 50,000tpa by 2028.

“We are thrilled to be announcing this next step in our further expansion in Chattanooga,” CEO Dr Chris Burns said.

“We have worked closely with the city, county and state over the past seven years of operations in Chattanooga and they have been great partners in supporting our growth plans.

“We have signed binding offtake agreements to supply synthetic graphite to Panasonic Energy, Stellantis, and PowerCo, which has our Riverside facility at capacity, and we’re looking forward to opening our doors at Enterprise South.”

 

 

AUZ, QEM, SUM, SYR and NVX share prices today:

 

 

At Stockhead, we tell it like it is. While Australian Mines and QEM are Stockhead advertisers, they did not sponsor this article.

 

 

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