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Eye on Lithium: Sigma does the samba toward Brazilian lithium production in 2023

Bastion Minerals entering option agreement to acquire a “significant portfolio” of lithium assets and net smelter royalties (NSR) in Quebec, … Read…

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  • Bastion Minerals entering option agreement to acquire a “significant portfolio” of lithium assets and net smelter royalties (NSR) in Quebec, Canada
  • Auroch raises $2.65mn to fast track exploration drilling programs at the Nevada Lithium and Nepean Nickel-Lithium Projects
  • Askari acquires its second lithium project in Namibia, increasing its overall footprint to 308.12km2 

All your lithium news, Monday December 5. 

 

Canadian miner Sigma Lithium has revealed plans to almost triple its targeted annual output of battery grade lithium concentrate to about 100,000 tonnes of lithium carbonate equivalent (LCE) by 2024 after releasing economic results of its Production Expansion Study at the Grota do Cirilo Project in Minas Gerais, Brazil.

The company plans to start commissioning Grota do Cirilo this month and aims to have product ready shopping by the end of April 2023.

Sigma Lithium also revealed the signing of definitive agreements for up to US$10om senior secured pre-export financing with Synergy Capital, one of the company’s current shareholders, based in the United Arab Emirates.

Other project economics, such as an aftertax NPV of US$15.3bn, incorporating production from Phase 1 (nearing commissioning initiation) combined with Phase 2 and Phase 3 have also been highlighted in the study, as Sigma works to begin the construction of project expansion and ordering of long lead items in Q1, 2023 once a final decision has been made.

 

Here’s how ASX lithium stocks are tracking:

 
CODE COMPANY PRICE % TODAY MARKET CAP
WML Woomera Mining Ltd 0.017 13% $14,093,764
MMC Mitremining 0.28 12% $6,771,275
ENT Enterprise Metals 0.01 11% $6,345,726
VKA Viking Mines Ltd 0.011 10% $10,252,584
FTL Firetail Resources 0.18 9% $10,725,000
VSR Voltaic Strategic 0.026 8% $7,354,336
STM Sunstone Metals Ltd 0.04 8% $96,956,517
TMB Tambourahmetals 0.15 7% $5,766,964
DAF Discovery Alaska Ltd 0.03 7% $6,278,572
PSC Prospect Res Ltd 0.165 6% $71,650,217
PLL Piedmont Lithium Inc 0.8725 6% $432,608,056
EFE Eastern Resources 0.034 6% $36,394,322
AZL Arizona Lithium Ltd 0.075 6% $171,104,715
CZL Cons Zinc Ltd 0.022 5% $9,721,350
LRD Lordresourceslimited 0.235 4% $7,489,040
AS2 Askarimetalslimited 0.405 4% $19,242,258
G88 Golden Mile Res Ltd 0.028 4% $5,523,923
ALY Alchemy Resource Ltd 0.028 4% $31,808,059
RIO Rio Tinto Limited 116.07 4% $41,553,942,995
LNR Lanthanein Resources 0.032 3% $29,847,593
TON Triton Min Ltd 0.033 3% $44,249,094
CAI Calidus Resources 0.365 3% $155,465,755
EPM Eclipse Metals 0.0185 3% $36,436,623
ZEO Zeotech Limited 0.05 2% $80,394,578
LIT Lithium Australia 0.051 2% $61,059,584
AOU Auroch Minerals Ltd 0.054 2% $19,668,925
LRS Latin Resources Ltd 0.1475 2% $292,365,784
DTM Dart Mining NL 0.066 2% $10,091,910
NVA Nova Minerals Ltd 0.745 1% $154,101,036
TSCDA Twenty Seven Co. Ltd 0.076 1% $7,982,442
AUN Aurumin 0.08 1% $10,669,514
TUL Tulla Resources 0.4 1% $79,234,130
SYA Sayona Mining Ltd 0.2375 1% $2,040,747,411
INR Ioneer Ltd 0.61 1% $1,269,494,652
MIN Mineral Resources. 90.53 1% $17,047,964,349
AGY Argosy Minerals Ltd 0.665 1% $926,908,949
IMI Infinitymining 0.3725 1% $23,697,878
VUL Vulcan Energy 7.35 1% $1,047,781,050
WES Wesfarmers Limited 48.6 0% $54,945,898,127
AML Aeon Metals Ltd. 0.03 0% $32,892,019
ASN Anson Resources Ltd 0.225 0% $264,576,150
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
INF Infinity Lithium 0.175 0% $80,890,726
LPD Lepidico Ltd 0.016 0% $122,204,340
QPM Queensland Pacific 0.125 0% $218,293,490
RLC Reedy Lagoon Corp. 0.012 0% $6,689,123
TKL Traka Resources 0.006 0% $4,132,647
BMM Balkanminingandmin 0.29 0% $12,473,119
CHR Charger Metals 0.58 0% $25,291,500
AAJ Aruma Resources Ltd 0.073 0% $11,458,190
PAM Pan Asia Metals 0.435 0% $63,882,182
AX8 Accelerate Resources 0.029 0% $9,019,804
AM7 Arcadia Minerals 0.255 0% $11,907,962
BYH Bryah Resources Ltd 0.028 0% $7,875,097
EMS Eastern Metals 0.098 0% $3,828,312
FG1 Flynngold 0.11 0% $7,046,716
FRS Forrestaniaresources 0.155 0% $7,815,072
GSM Golden State Mining 0.048 0% $5,616,682
CTN Catalina Resources 0.009 0% $11,146,382
TEM Tempest Minerals 0.027 0% $13,628,687
WCN White Cliff Min Ltd 0.016 0% $11,961,654
KGD Kula Gold Limited 0.032 0% $11,558,781
KZR Kalamazoo Resources 0.22 0% $32,740,262
AVW Avira Resources Ltd 0.0035 0% $7,468,265
BNR Bulletin Res Ltd 0.12 0% $35,110,932
RMX Red Mount Min Ltd 0.005 0% $8,211,819
MRR Minrex Resources Ltd 0.041 0% $44,425,210
SRZ Stellar Resources 0.013 0% $13,060,202
IPT Impact Minerals 0.0085 0% $21,091,650
SRI Sipa Resources Ltd 0.04 0% $9,079,437
VMC Venus Metals Cor Ltd 0.135 0% $24,040,622
RGL Riversgold 0.034 0% $32,145,902
EVR Ev Resources Ltd 0.017 0% $15,792,729
XTC Xantippe Res Ltd 0.0065 0% $52,943,994
LLI Loyal Lithium Ltd 0.505 0% $23,603,700
WMC Wiluna Mining Corp 0.205 0% $74,238,031
DAL Dalaroometalsltd 0.12 0% $3,585,000
CMD Cassius Mining Ltd 0.027 0% $11,029,308
WR1 Winsome Resources 1.245 0% $173,990,026
EMH European Metals Hldg 0.75 -1% $90,247,241
LPI Lithium Pwr Int Ltd 0.53 -1% $209,292,602
RDT Red Dirt Metals Ltd 0.52 -1% $174,682,807
MTM Mtmongerresources 0.099 -1% $4,825,479
LRV Larvottoresources 0.1825 -1% $9,232,518
ESS Essential Metals Ltd 0.4225 -2% $111,354,489
QXR Qx Resources Limited 0.056 -2% $50,266,152
AKE Allkem Limited 14.135 -2% $9,175,899,858
LTR Liontown Resources 2.04 -2% $4,568,585,528
CRR Critical Resources 0.05 -2% $80,469,752
GT1 Greentechnology 0.97 -2% $188,831,009
LEL Lithenergy 0.96 -2% $58,947,000
OCN Oceanalithiumlimited 0.465 -2% $16,351,875
A8G Australasian Metals 0.23 -2% $9,675,066
NMT Neometals Ltd 1.0175 -2% $574,850,823
LKE Lake Resources 1.0075 -2% $1,433,037,670
MLS Metals Australia 0.044 -2% $27,316,629
PGD Peregrine Gold 0.425 -2% $16,857,072
EUR European Lithium Ltd 0.081 -2% $120,286,852
MNS Magnis Energy Tech 0.37 -3% $368,725,964
SCN Scorpion Minerals 0.07 -3% $24,026,846
GLN Galan Lithium Ltd 1.395 -3% $437,057,779
MM1 Midasmineralsltd 0.17 -3% $9,998,059
GL1 Globallith 2.28 -3% $499,840,902
TYX Tyranna Res Ltd 0.032 -3% $79,379,036
LLL Leolithiumlimited 0.5525 -3% $562,394,440
A11 Atlantic Lithium 0.78 -3% $487,622,036
ZNC Zenith Minerals Ltd 0.3 -3% $108,907,519
JRL Jindalee Resources 2.09 -3% $123,938,567
KTA Krakatoa Resources 0.058 -3% $20,682,595
CXO Core Lithium 1.3175 -4% $2,518,497,604
M2R Miramar 0.096 -4% $7,068,174
PLS Pilbara Min Ltd 4.65 -4% $14,553,907,131
MXR Maximus Resources 0.043 -4% $14,350,760
CY5 Cygnus Gold Limited 0.52 -5% $90,302,354
LIS Lisenergylimited 0.405 -5% $70,513,529
IGO IGO Limited 15.57 -5% $12,373,756,064
1MC Morella Corporation 0.018 -5% $110,229,560
MQR Marquee Resource Ltd 0.054 -5% $18,104,202
RAG Ragnar Metals Ltd 0.017 -6% $6,825,328
AZI Altamin Limited 0.08 -6% $33,295,924
TKM Trek Metals Ltd 0.08 -6% $30,935,332
RAS Ragusa Minerals Ltd 0.14 -7% $19,847,722
WC8 Wildcat Resources 0.028 -7% $19,860,682
DRE Dreadnought Resources Ltd 0.098 -7% $322,739,713
KAI Kairos Minerals Ltd 0.027 -7% $56,958,711
PNN Power Minerals Ltd 0.585 -7% $45,459,719
ARN Aldoro Resources 0.265 -9% $32,650,322
IR1 Irismetals 1.675 -9% $115,423,200
LSR Lodestar Minerals 0.005 -9% $9,561,405
NWM Norwest Minerals 0.05 -9% $12,215,906
GW1 Greenwing Resources 0.3 -9% $41,647,803
ADV Ardiden Ltd 0.008 -11% $24,015,018
AOA Ausmon Resorces 0.007 -13% $6,858,315
THR Thor Mining PLC 0.006 -25% $8,823,068

 

38 lithium stocks finished in the green, 41 fell flat and 55 tumbled into the red.

 

Who’s got news out?

BASTION MINERALS (ASX:BMO)

BMO surged 15pc this morning after entering into an option agreement to acquire a “significant portfolio” of lithium assets and net smelter royalties (NSR) in Quebec, Canada.

The portfolio includes 13 properties covering more than 2,250km2 and 53 lithium properties with NSRs and contracted agreements in all the major lithium camps in Ontario.

“This is a highly accretive and transformational acquisition for the company – it provides a compelling payback and the significant upside expected to be achieved expands the investment proposition,” executive chairman Ross Landles says.

BMO has paid the vendors a C$50,000 non-refundable fee to secure an exclusive option to conduct due diligence over the Gravel Resources portfolio claims, contracts and agreements up until January 31, 2023.

 

AUROCH MINERALS (ASX:AOU)

Auroch has received binding commitments from new and existing institutional and sophisticated investors for a placement to $2.65m to fast track exploration drilling programs at the Nevada Lithium and Nepean Nickel-Lithium Projects.

AOU says it will focus on the Kangaroo Hills Lithium prospect, around 8km north of the historical Nepean mine workings.
Kangaroo Hills forms part of the Nepean Nickel Project Joint Venture with Lodestar Minerals (20%).

Following the transformational discovery and hit of 6m at 1.38% Li2O, Auroch says drilling will begin in early 2023 to hopefully delineate further high grade spodumene mineralisation.

 

ASKARI METALS (ASX:AS2)

Askari has acquired its second lithium project in Namibia, increasing its overall footprint to 308.12km2.

Initial field reconnaissance at the Uis project (EPL 8535) near the town of Uis in Namibia, Africa has observed abundant spodumene mineralisation at surface with recent high-grade lithium rock chip assay results up to 3.2% Li2O.

AS2 plans to conduct a reverse circulation drilling campaign of up to 3,500m testing the mineralisation of the pegmatites beneath the surface in January 2023.

 

PURE RESOURCES (ASX:PR1)

PR1 has secured an additional 110km2 of claims situated 65km northeast of Patriot Battery Metals (CVE: PMET) Corvette discovery in the Superior Province, Quebec, Canada, amassing a belt-scale area to a significant total of ~270km2.

“We believe these claims, whilst greenfields are situated in the same geological province and exhibit analogous rock types, structural setting and geophysical properties as observed at the Corvette Lithium Trend 65km to the southwest,” Pure’s executive chairman Patric Glovac says.

Following a review on part of the total land area, PR1 has highlighted the Ministère des Ressources naturelles et des Forêts (MERN) identification of an outcropping pegmatite in the eastern portion of the claims.

Exploration is set to take off in the coming weeks.

 

ARIZONA LITHIUM (ASX:AZL)

AZL has entered a strategic alliance terms sheet with Navajo Transitional Energy company, (NTEC), a limited liability company wholly owned by the Navajo Nation, to manage all permitting and contract mining services at the Big Sandy Lithium Project.

The term sheet allows the commencement of work by both parties on the development of the Big Sandy project while providing time for further mutual due diligence (six months) and the development of a final definitive agreement.

 

 

LATIN RESOURCES (ASX:LRS)

LRS has recovered more than 80pc Li2O into a concentrate grading a high average of 6.30% Li2O during an expanded metallurgical test work program on drill core at the Salinas Lithium Project in Brazil.

One of the main objectives of this program was to investigate potential variability in metallurgical performance across the deposit, and at varying depths.

LRS says the results show “excellent consistency” across the width and depth of the known ore body, with concentrates well above 7% and as high as 7.96% Li2O.

 

The post Eye on Lithium: Sigma does the samba toward Brazilian lithium production in 2023 appeared first on Stockhead.

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