• OG players are trying to muscle in on lithium’s new “shale”
  • Ragnar expands its Swedish territories
  • Construction at Galan’s Hombre Muerto West imminent

 

All your lithium news, Monday June 26.

 

Like a 55-year-old divorcee downing enough Mojito’s at the bar to courageously sidle up to an Argentinian backpacker half his age, it was only a matter of time before fossil fuel extractors set their sights on lithium brine.

And that seems to be the case recently, with oil majors stepping up their efforts to break into lady lithium as part of their “no we won’t, yes we should” mind tussle to leave the old and become part of the new.

ExxonMobil, Schlumberger, Occidental Petroleum and Equinor are all busy looking at ways to use their knowledge in fluids processing to process lithium from brine.

Just Thursday last week, we reported new technological innovations from Monash University – direct lithium extraction (DLE) – tech that uses membranes to filter out impurities and speeds up extraction rates from months down to days at better recovery rates.

While still in start-up mode, DLE at scale would be a game changer for lithium brine extraction and open up the floodgates to massive increases in raw material production, especially because it can extract lithium from wastewater at oilfields and geothermal energy projects.

There’s a good bet that these oil and gas sharks have been swimming around similar ideas for a while now.

At the back end of May this year, ExxonMobil paid US$100m for some lithium-rich land in Arkansas, apparently fending off interest from Schlumberger and Equinor – the latter buying a stake in Lithium de France a couple of years ago.

BP, Shell, Eni and Imperial Oil are also looking into the lithium sector. One burning question this Stockhead asks himself is – what’s been taking them so long?

 

Here’s how Aussie lithium stocks are tracking:

Code Company Price % Today Market Cap
RAG Ragnar Metals Ltd 0.026 30% 7,583,698
CMD Cassius Mining Ltd 0.032 28% 12,418,205
CHR Charger Metals 0.45 17% 18,851,282
LM1 Leeuwin Metals Ltd 0.345 15% 13,435,500
LSR Lodestar Minerals 0.0045 13% 7,373,589
VKA Viking Mines Ltd 0.011 10% 10,252,584
ADV Ardiden Ltd 0.007 8% 17,474,180
BYH Bryah Resources Ltd 0.015 7% 4,782,742
MM1 Midas Minerals 0.33 6% 22,087,318
KGD Kula Gold Limited 0.02 5% 7,091,026
BNR Bulletin Res Ltd 0.061 5% 17,028,284
M2R Miramar 0.042 5% 3,215,270
FTL Firetail Resources 0.12 4% 8,855,000
G88 Golden Mile Res Ltd 0.05 4% 13,748,432
AM7 Arcadia Minerals 0.13 4% 5,837,237
EMS Eastern Metals 0.052 4% 2,302,556
PSC Prospect Res Ltd 0.135 4% 60,093,730
LRV Larvotto Resources 0.14 4% 9,079,387
IPT Impact Minerals 0.014 4% 38,403,503
WR1 Winsome Resources 1.705 4% 267,278,805
MLS Metals Australia 0.034 3% 20,593,194
A11 Atlantic Lithium 0.595 3% 353,360,163
MAN Mandrake Res Ltd 0.041 3% 23,950,397
DTM Dart Mining NL 0.044 2% 7,408,351
GLN Galan Lithium Ltd 0.885 2% 291,431,825
GSM Golden State Mining 0.045 2% 6,347,625
TMB Tambourah Metals 0.094 2% 3,789,719
LLO Lion One Metals Ltd 0.745 2% 9,623,476
LPM Lithium Plus 0.265 2% 17,156,932
GL1 Globallith 1.485 2% 378,215,238
LKE Lake Resources 0.3 2% 419,621,189
LEL Lithenergy 0.84 1% 78,858,300
LPI Lithium Pwr Int Ltd 0.3125 1% 195,063,644
WES Wesfarmers Limited 48.42 1% 54,511,016,062
CXO Core Lithium 0.925 1% 1,709,835,450
1MC Morella Corporation 0.007 0% 42,690,063
AML Aeon Metals Ltd. 0.016 0% 17,542,410
ASN Anson Resources Ltd 0.155 0% 193,234,016
AVZ AVZ Minerals Ltd 0.78 0% 2,752,409,203
EUR European Lithium Ltd 0.1 0% 148,923,918
LTR Liontown Resources 2.87 0% 6,315,378,920
RLC Reedy Lagoon Corp 0.006 0% 3,400,318
TKL Traka Resources 0.007 0% 6,099,305
BMM Balkan Mining & Minerals 0.185 0% 8,837,823
ARN Aldoro Resources 0.11 0% 14,786,612
IMI Infinity Mining 0.12 0% 9,177,398
CTN Catalina Resources 0.003 0% 3,715,461
TEM Tempest Minerals 0.019 0% 9,629,611
EMC Everest Metals Corp 0.145 0% 18,767,801
WML Woomera Mining Ltd 0.012 0% 11,473,935
AZI Altamin Limited 0.072 0% 28,203,606
ENT Enterprise Metals 0.004 0% 2,917,884
KAI Kairos Minerals Ltd 0.017 0% 33,389,589
AVW Avira Resources Ltd 0.002 0% 4,267,580
NVA Nova Minerals Ltd 0.26 0% 54,831,389
CAI Calidus Resources 0.17 0% 94,814,068
MRR Minrex Resources Ltd 0.015 0% 16,273,013
A8G Australasian Metals 0.14 0% 7,296,869
SRZ Stellar Resources 0.01 0% 10,059,642
NWM Norwest Minerals 0.032 0% 8,884,304
AOA Ausmon Resorces 0.004 0% 3,877,157
SRI Sipa Resources Ltd 0.017 0% 3,878,688
VMC Venus Metals Cor Ltd 0.19 0% 34,433,450
THR Thor Energy PLC 0.004 0% 5,840,051
YAR Yari Minerals Ltd 0.015 0% 7,235,367
LLI Loyal Lithium Ltd 0.32 0% 19,036,800
WMC Wiluna Mining Corp 0.205 0% 74,238,031
AUN Aurumin 0.026 0% 7,128,406
KTA Krakatoa Resources 0.02 0% 7,267,532
DAF Discovery Alaska Ltd 0.028 0% 6,558,572
CY5 Cygnus Metals Ltd 0.26 0% 55,676,585
TUL Tulla Resources 0.35 0% 118,262,971
BUR Burley Minerals 0.205 0% 15,297,060
RMX Red Mount Min Ltd 0.004 0% 9,087,404
ENT Enterprise Metals 0.004 0% 2,917,884
XTC Xantippe Res Ltd 0.002 0% 22,960,199
KOB Koba Resources 0.155 0% 16,339,583
EMC Everest Metals Corp 0.145 0% 18,767,801
IEC Intra Energy Corp 0.006 0% 4,234,690
RIO Rio Tinto Limited 112.455 -1% 41,995,690,290
PLL Piedmont Lithium Inc 0.8525 -1% 329,253,150
AKE Allkem Limited 15.705 -1% 10,106,880,663
PLS Pilbara Min Ltd 4.85 -1% 14,691,118,657
TKM Trek Metals Ltd 0.075 -1% 33,359,826
EG1 Evergreen Lithium 0.36 -1% 20,523,950
IR1 Irismetals 1.43 -1% 115,608,500
QPM Queensland Pacific 0.0985 -2% 174,634,792
INR Ioneer Ltd 0.315 -2% 671,468,245
PGD Peregrine Gold 0.28 -2% 15,989,244
LIS Lisenergy Limited 0.26 -2% 43,967,260
IGO IGO Limited 14.77 -2% 11,404,453,264
PAM Pan Asia Metals 0.245 -2% 38,816,576
ZNC Zenith Minerals Ltd 0.098 -2% 35,238,088
WC8 Wildcat Resources 0.1225 -2% 83,189,291
MQR Marquee Resource Ltd 0.047 -2% 15,705,960
AAJ Aruma Resources Ltd 0.045 -2% 9,025,285
CRR Critical Resources 0.039 -3% 63,790,195
SGQ St George Min Ltd 0.039 -3% 33,620,422
VUL Vulcan Energy 3.755 -3% 645,914,262
GT1 Greentechnology 0.67 -3% 146,954,491
REC Recharge Metals 0.335 -3% 32,704,275
LIT Lithium Australia 0.03 -3% 37,856,942
QXR Qx Resources Limited 0.03 -3% 27,802,732
LRD Lord Resources 0.086 -3% 3,304,759
MIN Mineral Resources 69.39 -4% 13,994,827,142
RGL Riversgold 0.0135 -4% 13,317,660
EMH European Metals Hldg 0.915 -4% 119,547,259
MNS Magnis Energy Tech 0.13 -4% 150,569,750
AGY Argosy Minerals Ltd 0.38 -4% 554,740,962
PAT Patriot Lithium 0.245 -4% 15,653,813
VSR Voltaic Strategic 0.096 -4% 36,945,775
ESS Essential Metals Ltd 0.4025 -4% 112,378,011
SYA Sayona Mining Ltd 0.1725 -4% 1,807,044,844
DLI Delta Lithium 0.91 -4% 494,544,817
LPD Lepidico Ltd 0.0105 -5% 84,021,469
NMT Neometals Ltd 0.51 -5% 295,716,529
MTM MTM Critical Metals 0.1 -5% 9,277,543
STM Sunstone Metals Ltd 0.02 -5% 64,721,682
LLL Leo Lithium 1.085 -5% 1,124,869,958
PNN Power Minerals Ltd 0.38 -5% 28,933,713
TYX Tyranna Res Ltd 0.019 -5% 62,128,507
JRL Jindalee Resources 1.81 -5% 109,593,825
AX8 Accelerate Resources 0.018 -5% 7,212,433
AZL Arizona Lithium Ltd 0.033 -6% 96,238,685
MXR Maximus Resources 0.033 -6% 11,166,952
PL3 Patagonia Lithium 0.165 -6% 8,575,613
TON Triton Min Ltd 0.032 -6% 53,086,091
EPM Eclipse Metals 0.016 -6% 34,477,016
ALY Alchemy Resource Ltd 0.016 -6% 20,027,296
LNR Lanthanein Resources 0.015 -6% 17,945,209
AS2 Askari Metals 0.29 -6% 21,163,840
INF Infinity Lithium 0.098 -7% 48,572,170
FIN FIN Resources Ltd 0.014 -7% 9,278,030
DAL Dalaroo Metals 0.068 -7% 3,162,725
LRS Latin Resources Ltd 0.26 -7% 721,696,711
KZR Kalamazoo Resources 0.13 -7% 21,519,498
EVR Ev Resources Ltd 0.013 -7% 13,103,777
DRE Dreadnought Resources Ltd 0.052 -7% 186,352,780
FBM Future Battery 0.12 -8% 55,619,867
RAS Ragusa Minerals Ltd 0.064 -9% 9,981,915
FG1 Flynngold 0.06 -9% 8,969,119
EFE Eastern Resources 0.01 -9% 13,661,411
OCN Oceana Lithiuml 0.325 -10% 14,103,540
GW1 Greenwing Resources 0.185 -10% 30,731,504
SCN Scorpion Minerals 0.083 -12% 32,496,382
MMC Mitre Mining 0.3 -12% 12,999,934
WCN White Cliff Min Ltd 0.007 -13% 8,422,815
NIS Nickelsearch 0.057 -14% 3,993,358
ZEO Zeotech Limited 0.05 -14% 95,160,929
FRS Forrestania Resources 0.067 -22% 5,236,652
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Just 35 lithium stocks saw green today and 43 stayed flat, while an unusually high 70 dropped – mainly due to the ASX having a bad day.

 

WHO’S GOT NEWS OUT?

 

RAGNAR METALS (ASX:RAG)

The team at Ragnar are likely to be feasting in the Great Hall for days after offloading its non-core Tullsta nickel asset in Sweden to BHP (ASX:BHP) for a cool $9.8m and buying four lithium and REE projects, also in Sweden.

Ragnar will get a 1% net smelter return on any throughput from Tullsta, while BHP can buy that royalty back off them for a cool $10m if they choose to.

At the same time, it’s also just rattled the tin to raise $1.89m from its shareholders in an entitlement issue – likely to be used to fund initial exploration at its new Swedish tenements.

Huge news for this $8m-capped junior that’s been yearning to bolster its critical minerals portfolio.

The two lithium projects are Halleberget and Bergom near Sweden’s east coast, just north of the Jarkvissle lithium precinct.

Historical exploration figures at Halleberget show outcropping lithium-bearing pegmatites over a 500m strike length showing 0.473% Li2O, 196 ppm Ta and 4.48% Sn.

Bergom has widespread yet underexplored pegmatite outcrops with only one historical assay returning 0.172% Li2O, 95 ppm Ta and 0.38% Sn.

These fledgling projects are considered highly-prospective for discovering lithium pegmatite deposits due to the district representing the western belt of the same belt that contains Kaustinen – the largest lithium deposit in Scandanavia.

“We are excited to expand our exploration portfolio with highly prospective lithium projects, in one of the World’s best mining jurisdictions,” Ragnar exec director Eddie King said.

“We believe Sweden’s lithium potential is still to be unlocked, so we remain very committed to continued success as one of Sweden’s most active and effective explorers for critical minerals.”

 

 

 

GALAN LITHIUM (ASX:GLN)

Galan has taken a major step towards the construction of Argentina’s next major lithium brine operations, receiving development permits for the first stage of its Hombre Muerto West (HMW) project.

Pre-construction activities are go, including the commissioning of the current camp in preparation to be increased to a 250-person camp, removal of top soil and preliminary testing activities to secure the ground quality at HMW.

This will enable the construction of the ponds for the first stage of the project, expected to begin in the September quarter after the delivery of full construction permits.

Phase 1 of the HMW project will see Galan produce a lithium chloride concentrate, with a DFS just around the corner to outline the economic case for the staged start-up.

A larger Phase2 DFS is expected in August or September this year, which will lay out the runway for Galan to ramp up output to 20,000t of lithium carbonate equivalent a year.

HMW project boasts an impressive mineral resource of 6.6Mt LCE at a grade of 880mg/L Li and is planning a four-phase approach to development that will include its sister project Candelas.

By Phase 4, Galan hopes to be producing 60,000tpa from the combined HMW and Candelas resources.

 

 

 

GLOBAL LITHIUM RESOURCES (ASX:GL1)

GL1 is farming-in to Kairos Minerals (ASX:KAI) with an up to $4.6m investment that will see it acquire a 10% stake in the company, which holds exploration licenses for the Roe Hills lithium project – south adjacent to its Manna lithium project.

It’s a strategic investment by GL1, as Kairos will use the funds to explore and develop Roe Hills while the company concentrates on proving up Manna.

Roe Hills consists of 18 tenements across 241km2 that form contiguous licences adjacent to Manna.

Lithium anomalies have been identified through soil geochemical analysis sampling, indicating the potential for significant lithium within the area.

GL1 also bought a two-year exclusive option to explore Baracus Pty Ltd’s E28/3197 tenement immediately east of the Manna project for $250,000.

These moves could be a first step towards a bigger project picture down the line.

 

 

At Stockhead, we tell it like it is. While Galan Lithium is a Stockhead advertiser, they did not sponsor this article.

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