• Azure in trading halt pending “a potential change of control transaction”
  • Azure rebuffed $2.31/sh offer from miner SQM in August, calling it ‘undercooked’
  • Meanwhile, SQM has bought into the Pirra Lithium, JV, MinRes is running the ruler over red hot explorer Wildcat
  • The hottest ASX lithium stocks over the last week: Wildcat, Maximus, Prospect, Lithium Power International

 

A cooling lithium market in 2023 has knocked the froth off project developers, putting them in the crosshairs of acquisitive miners like SQM, Ablemarle, and MinRes.

It’s a lithium M&A frenzy, and things aren’t cooling down anytime soon.

Chilean state miner Codelco is even getting in the action, lobbing a cheeky bid for brines play Lithium Power International (ASX:LPI).

Prior to Codelco’s 57c/sh bid being confirmed last week, LPI was (and still is) down substantially from its April 2022 peak of 91c/sh.

Not so for one of the hottest ASX lithium stocks of 2023, Azure Minerals (ASX:AZS), which is now in a trading halt pending “a potential change of control transaction”.

SQM, which already has a major stake in the Mark Creasy-backed billion-dollar explorer, was rebuffed in a takeover bid only a couple of months ago.

Maybe it came back to the table with something better for AZS, which is already up 1000% year-to-date.

Assuming it comes in well above the rebuffed $2.31/sh offer from SQM in August – which AZS called ‘undercooked’ — a huge payday awaits for those shareholders who bought in when the stock was paying just ~20c in January this year.

READ: Azure lithium takeover in the works, Syrah stonks

Meanwhile, SQM has inked a deal to buy a 30% stake the Pirra Lithium JV in WA with Calidus Resources (ASX:CAI) from Haoma Mining.

It will end up with a 40% stake (CAI 40%, Haoma 20%) after injecting an additional $3m into the JV for exploration.

“SQM’s acquisition of a large stake in Pirra is a big vote of confidence in the prospectivity of the company’s lithium exploration acreage in the Pilbara,” CAI managing director Dave Reeves says.

“With an increased landholding of over 1,411km2 in the Pilbara, Pirra is now funded to rapidly progress exploration across these tenements.

“An initial focus will be the Tabba Tabba South tenements which lie immediately along strike from known lithium occurrences and on a belt that hosts significant lithium resources.”

Those lithium occurrences include Wildcat Resources’ (ASX:WC8) Tabba Tabba flagship:

De Grey (ASX:DEG) drilled into super high grade lithium?!? Whatdoyajknow.

Like Azure, WC8 has bucked the trend to be a huge winner in 2023. It is currently all rigs blazing at Tabba Tabba, an old tantalum occurrence once explored by Pilbara Minerals (ASX:PLS) in its pre-Pilgangoora days.

It now looks like investor buzz is translating to proper drill results, with the company announcing a number of thicc, high grade spodumene hits to the market on Monday.

Highlights include a couple of estimated true width 85m intersections grading between 1.3-1.5% lithium.

There were even a couple of super high-grade chunks, like 9m at 3%, and 13m at 2.3%.

The news sent the former penny dreadful to all-time highs.

The Leia peggie – which is the current focus — is now 1.5km long, 50m wide, goes to 250m depth from surface, and remains open.

“We continue to be encouraged by the Leia Pegmatite’s scale, grade and tabular consistency having still not found the edges of it with drilling,” WC8 managing direct Sam Ekins says.

“It really feels as though we are in the midst of a Tier 1 lithium discovery at Tabba Tabba.”

Unsurprisingly, aggressive WA hard rock acquirer MinRes is sniffing around.

 

Who’s Hot:

The week’s biggest gains 🚀

Wildcat Resources (ASX:WC8) +36%

Maximus Resources (ASX:MXR) +32%

Prospect Resources (ASX:PSC) +26%

Lithium Power International (ASX:LPI) +22%

 

Who’s Not:

The week’ s biggest falls 📉

Torque Metals (ASX:TOR) -56%

Avira Resources (ASX:AVW) -50%

MTM Critical Metals (ASX:MTM) -36%

Liontown Resources (ASX:LTR) -35%

 

Here’s how Aussie lithium stocks are tracking:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.

Stocks missing from this list? Email [email protected]

CODE COMPANY 1 WEEK RETURN 1 MONTH RETURN YTD RETURN 12 MONTH RETURN PRICE MARKET CAP
WC8 Wildcat Resources 36% 58% 2338% 1728% 0.585 $478,790,772
MXR Maximus Resources 32% 32% -8% -18% 0.037 $12,183,019
PSC Prospect Res Ltd 26% 11% -21% -6% 0.0945 $42,065,611
TMX Terrain Minerals 25% 0% -17% -17% 0.005 $5,030,575
MHC Manhattan Corp Ltd 25% -29% -9% -29% 0.005 $14,684,899
LPI Lithium Pwr Int Ltd 22% 121% 20% -5% 0.53 $333,495,907
SRI Sipa Resources Ltd 16% 5% -31% -56% 0.022 $5,019,479
TKM Trek Metals Ltd 15% -37% -50% -34% 0.038 $15,426,843
CHR Charger Metals 14% -18% -64% -66% 0.16 $8,696,012
PGD Peregrine Gold 14% -5% -26% -52% 0.285 $14,887,067
PFE Panteraminerals 14% 34% -39% -36% 0.067 $6,077,630
FG1 Flynngold 13% 21% -32% -35% 0.068 $9,274,016
BUR Burleyminerals 13% -3% -18% 6% 0.18 $18,233,416
YAR Yari Minerals Ltd 12% -24% -15% -46% 0.0145 $6,270,652
NWM Norwest Minerals 10% -3% -41% 14% 0.032 $8,914,655
ALY Alchemy Resource Ltd 10% 0% -52% -58% 0.011 $12,958,839
RDN Raiden Resources Ltd 9% -26% 426% 229% 0.025 $51,389,034
AUN Aurumin 8% 12% -54% -67% 0.028 $9,234,849
ASN Anson Resources Ltd 7% 7% -16% -47% 0.155 $186,432,180
MLS Metals Australia 6% 0% -21% -15% 0.035 $20,593,194
LLO Lion One Metals Ltd 6% 7% -5% 46% 1.11 $16,921,847
NVA Nova Minerals Ltd 4% 10% -61% -62% 0.265 $55,885,840
BYH Bryah Resources Ltd 4% -18% -45% -43% 0.014 $5,020,474
L1M Lightning Minerals 4% 4% -15% 0% 0.14 $5,905,134
EMH European Metals Hldg 3% -8% 1% -19% 0.645 $90,500,336
FTL Firetail Resources 3% -5% -38% -50% 0.1 $13,699,311
ANX Anax Metals Ltd 3% -31% -32% -39% 0.036 $15,046,637
LEL Lithenergy 3% -9% -25% -50% 0.575 $58,715,700
AZS Azure Minerals 2% -5% 984% 787% 2.44 $1,087,665,095
MHK Metalhawk. 1% -15% -48% -54% 0.085 $7,246,933
TMB Tambourahmetals 0% -34% 19% -17% 0.125 $9,538,141
SGQ St George Min Ltd 0% 0% -41% -2% 0.04 $31,323,274
AX8 Accelerate Resources 0% 30% 30% -14% 0.03 $13,048,061
AZL Arizona Lithium Ltd 0% -6% -76% -81% 0.015 $44,725,655
EMS Eastern Metals 0% -6% -58% -79% 0.031 $1,996,195
AAJ Aruma Resources Ltd 0% -3% -36% -52% 0.034 $6,497,420
1MC Morella Corporation 0% -8% -54% -75% 0.0055 $33,762,606
AVZ AVZ Minerals Ltd 0% 0% 0% 0% 0.78 $2,752,409,203
PAM Pan Asia Metals 0% -7% -51% -45% 0.2 $31,764,287
CTN Catalina Resources 0% 0% -60% -43% 0.004 $4,953,948
WML Woomera Mining Ltd 0% -17% -47% -28% 0.01 $9,561,946
KAI Kairos Minerals Ltd 0% -13% -4% -21% 0.02 $52,418,244
LSR Lodestar Minerals 0% -17% 0% 0% 0.005 $10,116,987
AOA Ausmon Resorces 0% 0% -57% -57% 0.003 $2,935,948
MNS Magnis Energy Tech 0% -6% -80% -79% 0.074 $88,762,863
WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031
LLL Leolithiumlimited 0% 0% 4% -13% 0.505 $498,553,663
PAT Patriot Lithium 0% -8% -36% 0% 0.17 $10,860,875
PL3 Patagonia Lithium 0% 20% 0% 0% 0.15 $7,350,525
RMX Red Mount Min Ltd 0% 0% -20% -27% 0.004 $10,694,304
XTC Xantippe Res Ltd 0% 0% -67% -76% 0.001 $17,528,005
ADG Adelong Gold Limited 0% -13% 0% -13% 0.007 $4,174,256
OLY Olympio Metals Ltd 0% -11% 10% -11% 0.16 $10,175,920
SCN Scorpion Minerals 0% -8% -21% -23% 0.055 $19,415,547
RAG Ragnar Metals Ltd 0% 9% 110% 1% 0.024 $11,849,524
G88 Golden Mile Res Ltd 0% -46% -2% -24% 0.02 $6,917,180
AS2 Askarimetalslimited 0% -7% -56% -60% 0.19 $15,360,043
GLN Galan Lithium Ltd -1% 5% -36% -46% 0.6825 $264,916,710
JNO Juno -1% -14% -18% -25% 0.078 $10,581,324
EUR European Lithium Ltd -1% 0% -7% -23% 0.069 $96,202,503
GRE Greentechmetals -2% -39% 96% 72% 0.275 $15,563,778
PNN Power Minerals Ltd -2% -18% -54% -51% 0.245 $19,530,464
MMC Mitremining -2% -2% -16% 31% 0.235 $9,750,272
A8G Australasian Metals -2% 33% 5% -27% 0.2 $10,424,099
RIO Rio Tinto Limited -3% -5% -4% 21% 111.46 $42,548,802,449
WES Wesfarmers Limited -3% -5% 12% 15% 51.21 $58,139,791,835
LIT Lithium Australia -3% -9% -31% -39% 0.031 $38,499,038
PMT Patriotbatterymetals -3% -12% 55% 0% 1.165 $435,470,131
CAI Calidus Resources -3% -12% -46% -60% 0.145 $79,024,382
MQR Marquee Resource Ltd -4% -24% -30% -57% 0.026 $10,747,994
KGD Kula Gold Limited -4% -4% -50% -69% 0.0125 $4,478,543
FL1 First Lithium Ltd -4% 39% 39% 56% 0.25 $17,162,658
ZNC Zenith Minerals Ltd -4% 3% -64% -68% 0.096 $33,476,184
KZR Kalamazoo Resources -4% -7% -56% -48% 0.093 $16,110,457
LPD Lepidico Ltd -4% 10% -31% -50% 0.011 $76,383,079
VMC Venus Metals Cor Ltd -4% -20% 40% 35% 0.11 $20,870,155
DAF Discovery Alaska Ltd -5% -14% -41% -49% 0.019 $4,450,459
IR1 Irismetals -5% -22% 35% -9% 1.57 $170,006,175
KTA Krakatoa Resources -5% -18% -59% -70% 0.018 $7,393,265
MAN Mandrake Res Ltd -6% -15% -15% 0% 0.034 $20,357,837
DRE Dreadnought Resources Ltd -6% -24% -60% -60% 0.0425 $148,074,092
TEM Tempest Minerals -6% -16% -65% -73% 0.008 $3,835,376
MRR Minrex Resources Ltd -6% 14% -50% -63% 0.016 $17,357,880
TYX Tyranna Res Ltd -6% -17% -38% -67% 0.015 $49,296,380
AZI Altamin Limited -6% -13% -26% -28% 0.059 $24,286,439
ESS Essential Metals Ltd -7% -4% 40% -12% 0.455 $125,019,885
ARN Aldoro Resources -7% -23% -45% -65% 0.088 $11,846,889
LRD Lordresourceslimited -7% -17% -63% -79% 0.062 $2,376,456
AM7 Arcadia Minerals -8% -12% -53% -68% 0.097 $9,923,559
WCN White Cliff Min Ltd -8% 9% -14% -37% 0.012 $14,455,713
WR1 Winsome Resources -8% -23% -7% 200% 1.14 $216,619,159
GL1 Globallith -8% -14% -33% -52% 1.245 $328,723,784
INF Infinity Lithium -8% -6% -31% -61% 0.083 $39,320,328
ZEO Zeotech Limited -8% -19% 0% 21% 0.047 $85,296,153
AGY Argosy Minerals Ltd -8% -8% -69% -66% 0.175 $245,771,312
GSM Golden State Mining -8% -15% -21% -7% 0.034 $6,497,001
BNR Bulletin Res Ltd -8% 51% 18% -8% 0.11 $30,827,066
SBR Sabre Resources -8% -27% -13% -40% 0.033 $10,202,017
EPM Eclipse Metals -8% -15% -31% -45% 0.011 $24,336,718
IGO IGO Limited -9% -16% -21% -32% 10.62 $8,451,108,793
FIN FIN Resources Ltd -9% 75% 11% 5% 0.021 $11,799,672
BM8 Battery Age Minerals -9% -28% -58% -58% 0.21 $18,718,746
SRZ Stellar Resources -9% -23% -23% -23% 0.01 $9,053,678
DTM Dart Mining NL -9% -31% -64% -76% 0.02 $3,460,245
QPM Queensland Pacific -9% 2% -46% -64% 0.059 $120,750,169
LM1 Leeuwin Metals Ltd -9% 4% 0% 0% 0.295 $13,435,500
ICL Iceni Gold -10% -32% -19% -16% 0.065 $15,590,714
LIS Lisenergylimited -10% 10% -28% -47% 0.23 $140,844,051
VKA Viking Mines Ltd -10% -14% -10% 13% 0.009 $9,227,326
IPT Impact Minerals -10% -25% 29% 29% 0.009 $28,647,039
CMD Cassius Mining Ltd -10% 9% 75% 0% 0.035 $18,378,944
MIN Mineral Resources. -10% -19% -27% -22% 56.23 $11,623,351,787
GW1 Greenwing Resources -10% -10% -53% -64% 0.13 $20,910,178
DYM Dynamicmetalslimited -11% -21% 0% 0% 0.165 $5,950,000
SYA Sayona Mining Ltd -11% -22% -57% -63% 0.082 $854,343,569
IMI Infinitymining -11% -11% -56% -49% 0.12 $9,318,166
THR Thor Energy PLC -11% -47% -60% -72% 0.024 $4,408,413
AKE Allkem Limited -11% -15% -8% -30% 10.375 $6,827,951,409
DLI Delta Lithium -11% -23% 32% 16% 0.625 $352,284,651
NKL Nickelxltd -11% -14% -33% -66% 0.054 $4,742,019
CXO Core Lithium -12% -6% -68% -75% 0.33 $737,242,763
STM Sunstone Metals Ltd -13% -22% -62% -53% 0.014 $46,229,773
LKE Lake Resources -13% 3% -79% -84% 0.17 $248,927,824
KOB Kobaresourceslimited -13% -20% -53% -34% 0.066 $6,957,500
PLS Pilbara Min Ltd -13% -13% -4% -28% 3.6 $11,616,525,868
A11 Atlantic Lithium -13% -1% -27% -29% 0.45 $290,814,789
RAS Ragusa Minerals Ltd -14% -9% -72% -89% 0.032 $4,990,958
OZM Ozaurum Resources -14% -26% 29% 6% 0.085 $13,811,250
PLL Piedmont Lithium Inc -14% -29% -26% -48% 0.475 $193,340,513
NMT Neometals Ltd -15% -30% -64% -73% 0.29 $160,459,302
OCN Oceanalithiumlimited -15% -34% -58% -70% 0.145 $7,696,093
QXR Qx Resources Limited -15% -4% -45% -65% 0.023 $26,537,468
REC Rechargemetals -15% -39% 4% -26% 0.14 $16,702,796
LRS Latin Resources Ltd -15% -12% 155% 150% 0.25 $697,515,272
EMC Everest Metals Corp -16% -13% 33% 5% 0.105 $14,661,142
LRV Larvottoresources -16% -28% -34% -46% 0.105 $7,734,293
NIS Nickelsearch -16% -6% -70% -70% 0.047 $8,175,163
PLN Pioneer Lithium -17% 0% 0% 0% 0.3 $8,243,250
RLC Reedy Lagoon Corp. -17% -17% -48% -60% 0.005 $3,083,418
TKL Traka Resources -17% 0% -38% -17% 0.005 $4,376,646
VSR Voltaic Strategic -17% -38% -15% 5% 0.02 $9,662,078
GT1 Greentechnology -17% -19% -52% -51% 0.4 $88,385,672
MM1 Midasmineralsltd -17% -32% -25% -17% 0.15 $14,713,032
VUL Vulcan Energy -17% -25% -64% -63% 2.29 $402,321,369
FRS Forrestaniaresources -17% -36% -79% -82% 0.029 $3,580,556
SUM Summitminerals -17% -35% -37% -52% 0.091 $4,384,456
FBM Future Battery -18% -24% 87% 68% 0.099 $50,990,599
SLM Solismineralsltd -18% -32% 200% 231% 0.225 $18,262,838
JRL Jindalee Resources -19% -17% -26% -39% 1.4 $82,632,973
WYX Western Yilgarn NL -19% -35% -40% -35% 0.078 $4,469,175
EG1 Evergreenlithium -19% -21% 0% 0% 0.21 $12,651,750
LLI Loyal Lithium Ltd -20% -42% 46% -10% 0.43 $35,011,081
IEC Intra Energy Corp -20% -33% -50% -43% 0.004 $6,643,126
INR Ioneer Ltd -21% -33% -59% -71% 0.155 $348,319,343
BMM Balkanminingandmin -21% -41% -59% -47% 0.135 $10,665,112
JBY James Bay Minerals -21% -22% 0% 0% 0.28 $9,733,500
EVR Ev Resources Ltd -21% -21% -21% -54% 0.011 $10,392,578
CY5 Cygnus Metals Ltd -22% -32% -67% -73% 0.125 $39,155,756
M2R Miramar -23% -28% -55% -64% 0.034 $5,210,434
DAL Dalaroometalsltd -23% -17% -60% -70% 0.04 $3,040,000
CRR Critical Resources -24% -28% -35% -60% 0.028 $55,113,359
LPM Lithium Plus -24% -13% -4% -31% 0.355 $22,106,047
ADV Ardiden Ltd -25% -18% -36% -36% 0.0045 $10,753,341
ENT Enterprise Metals -25% -25% -70% -70% 0.003 $2,398,413
LNR Lanthanein Resources -25% -33% -71% -83% 0.006 $6,729,453
ENT Enterprise Metals -25% -25% -70% -70% 0.003 $2,398,413
AML Aeon Metals Ltd. -27% -31% -59% -58% 0.011 $13,156,807
AL8 Alderan Resource Ltd -29% -23% 43% 0% 0.01 $6,783,641
EFE Eastern Resources -30% -30% -76% -82% 0.007 $9,935,572
RGL Riversgold -31% -18% -70% -80% 0.009 $11,415,137
LTR Liontown Resources -35% -40% 37% -2% 1.81 $4,184,285,613
MTM MTM Critical Metals -36% -43% -73% -82% 0.021 $2,185,416
AVW Avira Resources Ltd -50% -33% -67% -71% 0.001 $2,133,790
TOR Torque Met -56% -57% -17% -19% 0.15 $19,300,001
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