- Ola co-founder plans to sell 1 million EVs in the next two to three years
- TNG acquires the ‘Sandover Licences’ which covers areas considered prospective for lithium in pegmatites
- LRS confirms a significant new discovery following an intersection of a swarm of spodumene bearing pegmatites
All your ASX lithium news for Tuesday, August 16.
Bhavish Aggarwal, the co-founder of India-based ride sharing company Ola, is keen to gain first mover advantage in India’s EV sector with plans to enter the market in 2024 with a car that can go from 0 to 100 kilometres per house in four seconds.
In competition with local giant Tata Motors and global automakers Hyundai and Tesla, Aggarwal said the vehicle, complete with an all-glass roof and a range of more than 500km per charge, would be priced at less than $50,000 compared to the global price of around $70,000.
He said Ola Electric is also expanding the original two-wheeler factory to a full EV hub, which at full capacity, will produce: 1 million cars, 10 million two wheelers, and 100 GWh cells every year.
Currently, India lags behind China, the European Union and the US when it comes to electric vehicles – fewer than 0.5% of car sales are electric according to the International Energy Agency’s Global EV Outlook notes.
“This re-imagined Future Factory is going to be the world’s largest EV ecosystem at a single site,” he explained.
When it comes online the plant will be India’s largest lithium-ion cell manufacturing plant, marking the country’s largest move towards electrification.
To watch the video announcement at the launch event at the Ola headquarters in Bangalore announcement, click here.
Here’s how ASX lithium stocks were tracking today:
| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|
| OCN | Oceanalithiumlimited | 0.73 | 95% | 35% | 33% | $18,438,750.00 |
| AOA | Ausmon Resorces | 0.007 | 17% | 27% | 27% | $4,715,091.39 |
| AVW | Avira Resources Ltd | 0.005 | 67% | 43% | 25% | $8,475,160.00 |
| LRS | Latin Resources Ltd | 0.13 | 91% | 34% | 13% | $223,770,921.04 |
| IPT | Impact Minerals | 0.009 | 29% | 29% | 13% | $19,850,964.45 |
| CZL | Cons Zinc Ltd | 0.024 | 33% | 0% | 9% | $8,521,871.89 |
| PAM | Pan Asia Metals | 0.49 | 27% | 18% | 8% | $33,633,710.11 |
| KGD | Kula Gold Limited | 0.028 | -2% | 13% | 8% | $5,594,566.43 |
| RMX | Red Mount Min Ltd | 0.007 | 17% | 0% | 8% | $10,675,365.08 |
| QPM | Queensland Pacific | 0.15 | 20% | 3% | 7% | $218,905,838.34 |
| TON | Triton Min Ltd | 0.03 | 100% | 7% | 7% | $35,245,956.96 |
| AX8 | Accelerate Resources | 0.039 | 34% | 8% | 5% | $10,006,979.26 |
| ZEO | Zeotech Limited | 0.062 | 38% | 3% | 5% | $89,970,012.73 |
| GSM | Golden State Mining | 0.063 | 50% | 19% | 5% | $6,985,279.14 |
| LLL | Leolithiumlimited | 0.565 | 31% | 18% | 5% | $532,794,732.48 |
| KTA | Krakatoa Resources | 0.068 | 33% | 31% | 5% | $22,406,144.61 |
| WCN | White Cliff Min Ltd | 0.0125 | -4% | -4% | 4% | $7,843,240.34 |
| DAF | Discovery Alaska Ltd | 0.05 | 11% | 19% | 4% | $10,763,265.50 |
| IR1 | Irismetals | 0.67 | 173% | 51% | 4% | $38,616,150.00 |
| SYA | Sayona Mining Ltd | 0.29 | 115% | 18% | 4% | $2,323,362,267.80 |
| WC8 | Wildcat Resources | 0.029 | 16% | 32% | 4% | $18,067,636.36 |
| AML | Aeon Metals Ltd. | 0.03 | 7% | 7% | 3% | $31,709,492.42 |
| KAI | Kairos Minerals Ltd | 0.03 | 43% | -9% | 3% | $56,958,711.24 |
| GT1 | Greentechnology | 0.8 | 33% | 11% | 3% | $142,808,973.33 |
| ZNC | Zenith Minerals Ltd | 0.32 | 25% | 10% | 3% | $106,876,306.49 |
| LPD | Lepidico Ltd | 0.033 | 22% | 10% | 3% | $208,230,119.46 |
| FRS | Forrestaniaresources | 0.165 | 14% | 0% | 3% | $4,973,808.64 |
| TMB | Tambourahmetals | 0.175 | 17% | 6% | 3% | $7,002,741.66 |
| EVR | Ev Resources Ltd | 0.035 | 25% | 3% | 3% | $31,483,458.41 |
| CHR | Charger Metals | 0.55 | 25% | 2% | 3% | $17,430,853.73 |
| PNN | Power Minerals Ltd | 0.595 | 47% | 2% | 3% | $35,692,480.80 |
| LEL | Lithenergy | 1.09 | 61% | 0% | 2% | $48,084,750.00 |
| SRI | Sipa Resources Ltd | 0.044 | 26% | -2% | 2% | $8,816,066.53 |
| RDT | Red Dirt Metals Ltd | 0.455 | 38% | -1% | 2% | $135,526,719.57 |
| TEM | Tempest Minerals | 0.046 | 2% | 5% | 2% | $22,714,477.92 |
| RAG | Ragnar Metals Ltd | 0.047 | 21% | 12% | 2% | $17,442,504.89 |
| ARN | Aldoro Resources | 0.255 | 82% | 16% | 2% | $24,896,829.25 |
| LRV | Larvottoresources | 0.255 | 38% | -2% | 2% | $10,383,125.00 |
| GW1 | Greenwing Resources | 0.29 | 21% | 4% | 2% | $35,125,494.47 |
| MRR | Minrex Resources Ltd | 0.06 | 94% | 2% | 2% | $62,548,670.70 |
| MMG | Monger Gold Ltd | 0.31 | 59% | 11% | 2% | $12,212,200.00 |
| SCN | Scorpion Minerals | 0.067 | -1% | 3% | 2% | $21,900,858.67 |
| AAJ | Aruma Resources Ltd | 0.08 | 29% | 18% | 1% | $12,399,958.74 |
| DTM | Dart Mining NL | 0.081 | 25% | 11% | 1% | $10,820,812.80 |
| NVA | Nova Minerals Ltd | 0.87 | 20% | -1% | 1% | $154,973,965.10 |
| EMH | European Metals Hldg | 0.94 | 44% | 13% | 1% | $111,322,986.48 |
| FG1 | Flynngold | 0.096 | -9% | 10% | 1% | $6,085,799.75 |
| M2R | Miramar | 0.1 | 11% | 1% | 1% | $6,354,479.64 |
| IGO | IGO Limited | 12.325 | 33% | 4% | 1% | $9,261,385,352.99 |
| CAI | Calidus Resources | 0.685 | 12% | -10% | 1% | $277,393,051.44 |
| WES | Wesfarmers Limited | 47.87 | 4% | 2% | 0% | $54,152,209,957.92 |
| RIO | Rio Tinto Limited | 95.33 | 2% | -4% | 0% | $35,365,768,707.78 |
| 1MC | Morella Corporation | 0.029 | 71% | 61% | 0% | $164,610,205.59 |
| ASN | Anson Resources Ltd | 0.16 | 45% | 14% | 0% | $164,465,973.60 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203.44 |
| PLL | Piedmont Lithium Inc | 0.93 | 92% | 35% | 0% | $490,640,844.00 |
| PSC | Prospect Res Ltd | 0.105 | 115% | -25% | 0% | $48,537,243.51 |
| RLC | Reedy Lagoon Corp. | 0.016 | -16% | -6% | 0% | $8,918,830.59 |
| TKL | Traka Resources | 0.007 | 40% | 0% | 0% | $4,821,421.93 |
| BMM | Balkanminingandmin | 0.2 | 5% | 0% | 0% | $6,550,000.00 |
| AM7 | Arcadia Minerals | 0.18 | 13% | 33% | 0% | $8,405,620.56 |
| BYH | Bryah Resources Ltd | 0.029 | 4% | -6% | 0% | $6,560,008.08 |
| IMI | Infinitymining | 0.15 | 11% | 7% | 0% | $8,625,000.00 |
| MMC | Mitremining | 0.115 | -8% | 5% | 0% | $3,114,786.50 |
| SHH | Shree Minerals Ltd | 0.01 | 11% | 25% | 0% | $12,384,868.92 |
| ENT | Enterprise Metals | 0.011 | 10% | 10% | 0% | $7,182,787.57 |
| SRZ | Stellar Resources | 0.017 | 6% | 6% | 0% | $14,268,144.64 |
| LSR | Lodestar Minerals | 0.009 | 38% | 29% | 0% | $15,645,936.13 |
| VMC | Venus Metals Cor Ltd | 0.17 | 6% | -3% | 0% | $27,213,376.11 |
| RGL | Riversgold | 0.039 | 44% | 30% | 0% | $30,074,299.40 |
| G88 | Golden Mile Res Ltd | 0.03 | 7% | 0% | 0% | $6,111,978.42 |
| THR | Thor Mining PLC | 0.01 | 11% | 11% | 0% | $10,755,643.90 |
| MM1 | Midasmineralsltd | 0.24 | 37% | 14% | 0% | $13,711,623.36 |
| WMC | Wiluna Mining Corp | 0.205 | 8% | 0% | 0% | $74,238,030.68 |
| AUN | Aurumin | 0.155 | 7% | 0% | 0% | $16,929,604.06 |
| ALY | Alchemy Resource Ltd | 0.02 | 25% | 25% | 0% | $19,061,481.14 |
| LNR | Lanthanein Resources | 0.028 | 87% | 22% | 0% | $26,959,115.96 |
| DAL | Dalaroometalsltd | 0.099 | -1% | -10% | 0% | $2,957,625.00 |
| TUL | Tulla Resources | 0.5325 | 0% | 1% | 0% | $85,716,026.52 |
| MIN | Mineral Resources. | 60.18 | 39% | 4% | -1% | $11,517,472,438.41 |
| JRL | Jindalee Resources | 2.86 | 15% | 4% | -1% | $165,825,211.74 |
| INR | Ioneer Ltd | 0.715 | 64% | 5% | -1% | $1,521,147,205.10 |
| LTR | Liontown Resources | 1.75 | 84% | 9% | -1% | $3,896,664,415.40 |
| AKE | Allkem Limited | 12.62 | 29% | 5% | -2% | $8,174,776,662.52 |
| A8G | Australasian Metals | 0.28 | 40% | 8% | -2% | $11,733,590.79 |
| KZR | Kalamazoo Resources | 0.275 | 17% | 25% | -2% | $40,654,424.72 |
| FTL | Firetail Resources | 0.25 | 25% | -2% | -2% | $15,754,537.50 |
| STM | Sunstone Metals Ltd | 0.049 | 17% | 4% | -2% | $129,822,320.95 |
| NMT | Neometals Ltd | 1.385 | 47% | 0% | -2% | $781,570,308.82 |
| LIS | Lisenergylimited | 0.69 | 17% | -7% | -2% | $116,969,501.84 |
| VUL | Vulcan Energy | 9.19 | 59% | 9% | -2% | $1,345,918,476.39 |
| DRE | Dreadnought Resources Ltd | 0.091 | 98% | 7% | -2% | $282,816,120.24 |
| PLS | Pilbara Min Ltd | 3.16 | 33% | 6% | -2% | $9,615,220,280.32 |
| MNS | Magnis Energy Tech | 0.445 | 53% | 22% | -2% | $441,500,824.77 |
| LPI | Lithium Pwr Int Ltd | 0.635 | 59% | -2% | -2% | $226,944,151.20 |
| AGY | Argosy Minerals Ltd | 0.4 | 25% | -2% | -2% | $559,678,374.46 |
| GL1 | Globallith | 1.9 | 84% | 7% | -3% | $309,461,599.20 |
| QXR | Qx Resources Limited | 0.037 | 37% | -10% | -3% | $32,655,768.20 |
| WML | Woomera Mining Ltd | 0.017 | 13% | 13% | -3% | $12,019,578.66 |
| AOU | Auroch Minerals Ltd | 0.068 | 15% | 11% | -3% | $25,879,125.93 |
| MLS | Metals Australia | 0.066 | 43% | 3% | -3% | $38,626,460.99 |
| EFE | Eastern Resources | 0.032 | 28% | 3% | -3% | $32,943,871.32 |
| INF | Infinity Lithium | 0.15 | 30% | 3% | -3% | $64,327,025.23 |
| WR1 | Winsome Resources | 0.29 | 66% | 9% | -3% | $40,534,198.20 |
| MXR | Maximus Resources | 0.058 | 26% | 2% | -3% | $19,134,346.08 |
| EUR | European Lithium Ltd | 0.086 | 26% | -12% | -3% | $124,621,286.58 |
| EMS | Eastern Metals | 0.14 | -7% | -3% | -3% | $5,605,156.25 |
| ESS | Essential Metals Ltd | 0.515 | 45% | -4% | -4% | $132,050,342.45 |
| NWM | Norwest Minerals | 0.046 | 70% | 15% | -4% | $8,669,154.58 |
| CY5 | Cygnus Gold Limited | 0.23 | 59% | 18% | -4% | $35,324,475.60 |
| GLN | Galan Lithium Ltd | 1.375 | 42% | 2% | -4% | $436,997,738.84 |
| PGD | Peregrine Gold | 0.9 | 102% | 15% | -4% | $35,989,765.90 |
| EPM | Eclipse Metals | 0.022 | 10% | -4% | -4% | $44,185,907.50 |
| LIT | Lithium Australia | 0.084 | 18% | -1% | -5% | $91,116,020.60 |
| XTC | Xantippe Res Ltd | 0.0105 | 31% | 31% | -5% | $89,383,081.24 |
| CRR | Critical Resources | 0.061 | 56% | 15% | -5% | $95,232,975.30 |
| AZL | Arizona Lithium Ltd | 0.1 | 18% | 0% | -5% | $252,517,183.91 |
| AS2 | Askarimetalslimited | 0.39 | 86% | -7% | -5% | $18,478,400.70 |
| CXO | Core Lithium | 1.535 | 72% | 13% | -5% | $2,799,447,621.50 |
| RAS | Ragusa Minerals Ltd | 0.19 | 150% | 96% | -5% | $25,147,231.20 |
| TYX | Tyranna Res Ltd | 0.037 | 85% | 23% | -5% | $59,762,066.01 |
| ADV | Ardiden Ltd | 0.0085 | 42% | 6% | -6% | $24,015,018.20 |
| LKE | Lake Resources | 1.375 | 127% | 28% | -6% | $2,029,171,080.76 |
| BNR | Bulletin Res Ltd | 0.145 | 26% | 4% | -6% | $45,351,620.50 |
| MQR | Marquee Resource Ltd | 0.087 | 32% | 5% | -6% | $29,352,434.94 |
| AZI | Altamin Limited | 0.082 | -15% | -8% | -8% | $34,862,790.93 |
| TKM | Trek Metals Ltd | 0.07 | 27% | 15% | -8% | $23,606,371.40 |
| LRD | Lordresourceslimited | 0.205 | 3% | -16% | -11% | $7,310,462.83 |
| MTM | Mtmongerresources | 0.12 | 0% | 0% | -11% | $5,063,854.46 |
| VKA | Viking Mines Ltd | 0.008 | 14% | 14% | -11% | $9,227,325.88 |
| TSC | Twenty Seven Co. Ltd | 0.0035 | 17% | 17% | -13% | $10,643,255.62 |
50 lithium companies finished the day in the green, another 29 fell flat and 52 lithium stocks ended the day in the red.
Who’s got news out today?
Resource definition drilling at the Colina prospect within the wider Salina lithium project in Brazil has confirmed a significant new discovery following an intersection of a swarm of spodumene bearing pegmatites including one of 18.75m thickness with assay results pending.
Better yet, regional mapping has also highlighted a third outcropping pegmatite system further to the west, and the potential convergence of the Colina and Colina West pegmatite systems.
The company will look to systematically drill test both of these additional high priority target areas in due course.
Aussie resources company, TNG, has secured two large exploration tenement packages – collectively known as the ‘Sandover Licences’ – covering areas considered prospective for lithium in pegmatites, just 50km southeast of the Mount Peake Project in the Northern Territory.
The Sandover licences cover a total area of 8,151km2 and comprise two contiguous blocks.
The western block is comprised of Exploration Licence Applications (ELA) 33090 and 33094 through 33100, with the eastern block comprising ELAs 33102 through 33106
TNG says the project has been acquired from private Northern Territory-based prospectors on acquisition terms of $25,000 per granted licence, with the consideration paid on transfer.
The company has been completing due diligence on the licences since February 2022.
TNG MD and CEO Paul Burton says the area represents, in all likelihood, one of the last areas that is prospective for lithium in the Northern Territory.
“The global energy transformation and the move to Electric Vehicles will see a structural increase in the consumption of metals such as lithium and vanadium.
“We want to be positioned to take advantage of this surge in demand for both elements,” he says.
New brine samples from the Salta Lithium-Brine Project in Argentia have confirmed their suitability for the application of Direct Lithium Extraction (DLE) technology as proposed under Power’s Memorandum of Understanding (MoU) with global lithium extraction group Sunresin New Materials Co. Ltd.
These latest samples come from the strategically located Pocitos-11 Salar from a depth of 80m and add to the recently reported high-grade lithium sample results from the Incahuasi and Rincon Salares at the Salta Project.
PNN says the samples underwent laboratory analysis at global laboratory services group SGS in Argentina, and delivered a lithium result of 100.4mg/L.
EFE has wrapped up a heritage survey at the Trigg Hill Lithium-Tantalum Project in Western Australia Pilbara region, while a program of works (PoW) has been approved, providing clearance for drilling to be undertaken.
Based on mapping and sampling to date, two areas will be the focus of initial drilling – the Curlew East LCT pegmatite swarm within an area of 1.8km by 0.4km and the Trigg Hill LCT pegmatites within an area of at least 300m by 140m.
An earthmoving contractor has been secured to undertake site preparation for the planned initial drilling program at the project.
Site preparation works are scheduled for the second half of August, and drilling activities will begin as soon as a driller is available.
While the Trill Hill mine is an an old tantalum and tin mine which operated during the 1960s and early 1980s, a significant number of pegmatite outcrops were mapped over an area of 3km strike by up to 1.2km in the project area.
The company executed a binding Heads of Agreement to acquire 100% interest in the Trigg Hill Project back in August 2021.
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