• Lithium is going berserk again
  • Chinese miners are pouring billions into lithium projects in Argentina
  • Aussie miners are also chasing brine in the country

All your lithium news, Friday, June 2.

 

Happy lithium-filled Friday! 

News around the commodity is literally flying off the meat rack today and landing in a bowl of Argentinian chimichurri. Yum.

The big news is the huge 17.4% leap in lithium prices this week to US$44,350, according to Benchmark Intelligence, which weighed the average of the lithium, carbonate and spodumene indexes.

Benchmark said the increases were likely due to sellers withholding material to enforce a tighter market, but we can’t be sure of that.

LFP cathode manufacturers are also reportedly increasing their inventories from two weeks to four weeks to lock in current prices in anticipation of them rising.

Just look at those numbers… Pic supplied (Benchmark Intelligence)

 

On to brines capital Argentina

It’s the Chinese miners in the news this week, eyeing huge investments into lithium projects in the South American nation.

Tibet Summit Resources is reaching deep into the coffers for an expected US$1.7 billion investment into the development of two lithium projects, the country’s economy ministry said in a note.

“The projects in the Arizaro and Diablillos salt flats in Salta province are expected to produce 50,000-100,000 tonnes of lithium,” economy minister Sergio Massa said.

“We want a mining industry that takes advantage of our resources and generates added value and employment.”

Ganfeng Lithium is also currently engaged in four projects in Argentina and is expected to invest more than US$2.7 billion in the next few years and produce 74,000t of lithium carbonate. 

Argentina’s portion of the South American lithium triangle includes the brine-rich Salta province where a string of ASX-listed juniors are also exploring and developing projects, including Lithium Energy (ASX:LEL), Argosy Minerals (ASX:AGY), Galan Lithium (ASX:GLN), Lake Resources (ASX:LKE), Pursuit Minerals (ASX:PUR) and Patagonia Lithium (ASX:PL3).

Bigger companies in the region include Australia’s Allkem (ASX:AKE) and merger partner Livent Corp.  

 

Here’s how Aussie lithium stocks are tracking:

 

Code Company Price % Today Market Cap
THR Thor Energy PLC 0.006 20% $7,368,064
VSR Voltaic Strategic 0.087 19% $26,970,415
TKL Traka Resources 0.007 17% $5,227,976
CTN Catalina Resources 0.0035 17% $3,715,461
WC8 Wildcat Resources 0.115 15% $66,202,273
ADV Ardiden Ltd 0.008 14% $18,818,347
GSM Golden State Mining 0.06 13% $7,646,003
PL3 Patagonia Lithium 0.195 11% $8,575,613
NVA Nova Minerals Ltd 0.31 11% $59,049,188
LIS Lisenergylimited 0.2875 11% $43,137,689
FRS Forrestaniaresources 0.075 10% $4,140,609
EMC Everest Metals Corp 0.098 9% $11,648,980
EMC Everest Metals Corp 0.098 9% $11,648,980
TON Triton Min Ltd 0.037 9% $53,086,091
ARN Aldoro Resources 0.13 8% $16,130,849
CHR Charger Metals 0.505 7% $20,545,753
WCN White Cliff Min Ltd 0.0075 7% $6,713,381
FBM Future Battery 0.1125 7% $44,923,739
MNS Magnis Energy Tech 0.165 6% $169,064,218
DRE Dreadnought Resources Ltd 0.051 6% $159,730,955
MLS Metals Australia 0.036 6% $21,217,230
KAI Kairos Minerals Ltd 0.018 6% $33,389,589
OCN Oceanalithiumlimited 0.36 6% $13,320,010
CAI Calidus Resources 0.185 6% $96,139,368
MXR Maximus Resources 0.038 6% $11,486,008
VMC Venus Metals Cor Ltd 0.195 5% $33,527,306
TYX Tyranna Res Ltd 0.02 5% $59,022,081
NMT Neometals Ltd 0.615 5% $323,353,588
SGQ St George Min Ltd 0.042 5% $33,620,422
GL1 Globallith 1.49 5% $367,853,177
LM1 Leeuwin Metals Ltd 0.325 5% $13,883,350
DLI Delta Lithium 0.66 5% $285,592,119
ESS Essential Metals Ltd 0.45 5% $115,053,678
MAN Mandrake Res Ltd 0.046 5% $26,345,436
AGY Argosy Minerals Ltd 0.465 4% $624,961,337
BUR Burleyminerals 0.235 4% $16,789,456
WR1 Winsome Resources 1.69 4% $262,779,418
GLN Galan Lithium Ltd 1 4% $323,438,789
PSC Prospect Res Ltd 0.13 4% $57,782,433
EMH European Metals Hldg 0.66 4% $79,980,765
CXO Core Lithium 1.08 4% $1,932,857,466
PLS Pilbara Min Ltd 4.505 4% $13,012,110,735
NWM Norwest Minerals 0.028 4% $6,679,023
PGD Peregrine Gold 0.29 4% $15,708,731
GT1 Greentechnology 0.73 4% $134,470,567
EVR Ev Resources Ltd 0.015 3% $13,571,769
LPM Lithium Plus 0.3 3% $19,136,578
LEL Lithenergy 0.93 3% $85,509,000
AM7 Arcadia Minerals 0.155 3% $7,004,684
ZEO Zeotech Limited 0.062 3% $98,442,340
LLL Leolithiumlimited 0.8775 3% $838,718,828
LPI Lithium Pwr Int Ltd 0.32 3% $195,063,644
AKE Allkem Limited 14.76 3% $9,124,887,211
LRV Larvottoresources 0.165 3% $10,760,756
PLL Piedmont Lithium Inc 0.865 3% $363,534,360
VUL Vulcan Energy 3.69 3% $591,758,731
IGO IGO Limited 14.125 3% $10,412,432,429
EUR European Lithium Ltd 0.1025 3% $148,923,918
DTM Dart Mining NL 0.044 2% $7,408,351
MIN Mineral Resources. 69.61 2% $13,231,291,094
LKE Lake Resources 0.525 2% $732,559,024
RIO Rio Tinto Limited 109.07 2% $39,876,045,708
LTR Liontown Resources 2.77 1% $6,007,311,656
SYA Sayona Mining Ltd 0.1825 1% $1,637,775,564
AZI Altamin Limited 0.075 1% $28,987,040
FTL Firetail Resources 0.09 1% $6,853,000
JRL Jindalee Resources 2.03 1% $115,331,722
1MC Morella Corporation 0.008 0% $48,788,644
AML Aeon Metals Ltd. 0.0185 0% $20,283,412
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
INF Infinity Lithium 0.11 0% $50,885,130
LIT Lithium Australia 0.037 0% $45,184,092
QPM Queensland Pacific 0.11 0% $192,098,271
RLC Reedy Lagoon Corp. 0.006 0% $3,400,318
PAM Pan Asia Metals 0.305 0% $47,356,223
AX8 Accelerate Resources 0.023 0% $8,684,840
AS2 Askarimetalslimited 0.27 0% $18,193,505
BYH Bryah Resources Ltd 0.017 0% $5,807,616
EMS Eastern Metals 0.054 0% $2,109,478
FG1 Flynngold 0.07 0% $7,201,148
IMI Infinitymining 0.13 0% $9,942,181
MMC Mitremining 0.265 0% $10,132,302
RAG Ragnar Metals Ltd 0.018 0% $6,825,328
TMB Tambourahmetals 0.11 0% $4,531,186
WML Woomera Mining Ltd 0.014 0% $13,386,257
AZL Arizona Lithium Ltd 0.045 0% $121,093,457
CRR Critical Resources 0.041 0% $65,384,950
LRS Latin Resources Ltd 0.165 0% $419,235,562
MTM MTM Critical Metals 0.11 0% $9,719,331
QXR Qx Resources Limited 0.036 0% $32,287,044
SCN Scorpion Minerals 0.07 0% $24,199,433
ENT Enterprise Metals 0.005 0% $3,525,403
AVW Avira Resources Ltd 0.003 0% $6,401,370
BNR Bulletin Res Ltd 0.061 0% $17,909,057
MRR Minrex Resources Ltd 0.014 0% $15,188,145
EFE Eastern Resources 0.01 0% $12,419,465
LSR Lodestar Minerals 0.005 0% $9,216,987
SRI Sipa Resources Ltd 0.019 0% $4,335,005
RGL Riversgold 0.016 0% $15,127,483
ZNC Zenith Minerals Ltd 0.13 0% $45,809,515
G88 Golden Mile Res Ltd 0.022 0% $6,152,149
EPM Eclipse Metals 0.013 0% $26,364,777
MM1 Midasmineralsltd 0.18 0% $10,283,718
M2R Miramar 0.045 0% $3,617,178
LLI Loyal Lithium Ltd 0.32 0% $19,036,800
LRD Lordresourceslimited 0.11 0% $4,084,533
WMC Wiluna Mining Corp 0.205 0% $74,238,031
AUN Aurumin 0.027 0% $5,574,837
GW1 Greenwing Resources 0.245 0% $36,727,895
KTA Krakatoa Resources 0.021 0% $7,630,908
DAF Discovery Alaska Ltd 0.028 0% $6,558,572
IR1 Irismetals 1.16 0% $74,506,800
DAL Dalaroometalsltd 0.062 0% $1,852,250
CY5 Cygnus Metals Ltd 0.195 0% $41,757,439
TUL Tulla Resources 0.34 0% $114,884,029
A11 Atlantic Lithium 0.6 0% $365,544,996
CMD Cassius Mining Ltd 0.017 0% $6,944,379
LLO Lion One Metals Ltd 0.845 0% $10,242,211
PAT Patriot Lithium 0.235 0% $14,426,063
RMX Red Mount Min Ltd 0.004 0% $9,087,404
ENT Enterprise Metals 0.005 0% $3,525,403
NIS Nickelsearch 0.057 0% $3,448,809
KOB Kobaresourceslimited 0.185 0% $19,502,083
LRD Lordresourceslimited 0.11 0% $4,084,533
IEC Intra Energy Corp 0.007 0% $4,940,471
WES Wesfarmers Limited 47.66 -1% $54,352,257,122
PNN Power Minerals Ltd 0.445 -1% $32,550,427
RAS Ragusa Minerals Ltd 0.08 -1% $11,550,502
AAJ Aruma Resources Ltd 0.069 -1% $10,987,305
INR Ioneer Ltd 0.33 -1% $702,943,319
A8G Australasian Metals 0.145 -3% $7,818,074
EG1 Evergreenlithium 0.38 -4% $22,210,850
MQR Marquee Resource Ltd 0.025 -4% $8,507,395
BMM Balkanminingandmin 0.215 -4% $10,748,703
ASN Anson Resources Ltd 0.175 -5% $226,355,012
YAR Yari Minerals Ltd 0.017 -6% $8,682,441
ALY Alchemy Resource Ltd 0.017 -6% $21,205,373
FIN FIN Resources Ltd 0.017 -6% $11,133,637
KGD Kula Gold Limited 0.016 -6% $6,344,603
VKA Viking Mines Ltd 0.008 -6% $8,714,697
LNR Lanthanein Resources 0.016 -6% $19,066,785
TEM Tempest Minerals 0.013 -7% $7,095,503
IPT Impact Minerals 0.013 -7% $39,825,854
KZR Kalamazoo Resources 0.12 -8% $19,812,826
TKM Trek Metals Ltd 0.068 -8% $26,931,936
LPD Lepidico Ltd 0.011 -8% $91,653,387
SRZ Stellar Resources 0.01 -9% $11,050,940
AOA Ausmon Resorces 0.0035 -13% $3,877,157
XTC Xantippe Res Ltd 0.0035 -13% $45,920,399
STM Sunstone Metals Ltd 0.022 -15% $80,131,607
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A massively positive day for lithium stocks today with 66 in the green. 58 were flat, and just 25 saw red.

 

WHO’S GOT NEWS OUT?

 

LITHIUM ENERGY (ASX:LEL)

As well as pushing forward with its lithium-brine project in Argentina, LEL has been drilling in QLD, producing high-grade graphite hits at Corella to support its proposed vertically integrated battery anode manufacturing plant. 

Assays from maiden drilling at the Corella graphite project confirm multiple significant high-grade graphite intercepts over 15% total graphite carbon (TGC) across thick widths that will feed into a maiden JORC mineral resource estimate.

The March/April drilling program consisted of 16 RC drill holes across 1,569m, and hits of note include individual intercepts of up to 27.4% TGC.

The discoveries at Corella adds to Lithium Energy’s (ASX:LEL) world-class Burke graphite deposit which has an indicated and inferred total resource of 9.1 million tonnes at 14.4% TGC for a total of 1.3mt of contained graphite.

 

 

GALAN LITHIUM (ASX:GLN)

GLN has completed a Stage 1 DFS to produce 4,000t of LCE equivalent at its Hombre Muerto Salar (HMW) lithium brine project in the Salta province of Argentina.

Phase 2 DFS optimisation work being conducted by the team is ongoing, which Galan expects to release in August 2023, addressing the full 20ktpa LCE production rates it has flagged for the second half of 2026.

The company is also currently evaluating Phase 3, which is a plan to increase production to 40ktpa in 2028 at HMW.

Finally, Phase 4 is planned to incorporate both HMW and the company’s Candelas project nearby for a total output of 60ktpa LCE equivalent by 2030.

The company has ~$50m of capital in its hands to continue development activities. 

 

 

PATAGONIA LITHIUM (ASX:PL3)

PL3 has returned some impressive high-grade lithium assay results today from its Formentera and Cilon projects in Argentina.

Two samples returned up to a whopping 1,122 parts per million (ppm) and 1,008ppm lithium respectively.

A total of 28 samples were sent to SGS Argentina, with 10 brines exceeding 75ppm, including 238ppm and 467ppm.  

PL3 chairman Phil Thomas said the board is delighted with the sampling results. 

“The extreme high levels of lithium in the brines from surface sampling demonstrate that there are high concentrations of lithium across a wide area near the surface on the concessions,” Thomas said.

“Once the data is collated and interpreted, we will have a high confidence of where the drilling targets will intercept aquifers containing conductive fluids which may be containing lithium.”

The high-grade results have spurred the explorer to conduct an 18-kilometre geophysics study to determine resistivity depth.

 

 

At Stockhead, we tell it like it is. While Galan Lithium and Lithium Energy are Stockhead advertisers, they did not sponsor this article.

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