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Lithium Prices Have Tripled in the Last Year and is Anyone Even Surprised

Prices for lithium carbonate hit around US$71,315 on Friday Gold Mountain Mining picks up four Brazilian lithium projects Lake Resources … Read More
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  • Prices for lithium carbonate hit around US$71,315 on Friday
  • Gold Mountain Mining picks up four Brazilian lithium projects
  • Lake Resources says don’t worry the direct lithium extraction (DLE) tech will be successful

 

All your ASX lithium news for Monday, September 19

 

Lithium prices have tripled over the last year according to Bloomberg, with lithium carbonate prices smashing the 500,000 Yuan barrier for the first time in China.

That was around US$71,315/t on Friday, according to Asian Metal.

 

 

And research firm Rystad Energy reckons prices could stay this high for the rest of the year, after a power crunch last month in China’s Sichuan province caused two weeks of electricity cuts and hampered supply – because the province is home to around a fifth of the country’s lithium production.

If China’s power crisis returns this winter, it could lead to new power shortages and add some more pressure to the already stretched supply chain.

 

Here’s how ASX lithium stocks were tracking today:

 
 
Code Company Price % Month % Week % Today Market Cap
KGD Kula Gold Limited 0.025 -11% 19% 25% $5,379,390.76
QXR Qx Resources Limited 0.036 0% 16% 16% $26,640,231.95
ADV Ardiden Ltd 0.008 -11% 0% 14% $18,678,347.49
BMM Balkanminingandmin 0.34 70% 26% 13% $9,825,000.00
LKE Lake Resources 1.05 -22% -19% 13% $1,292,675,549.37
KAI Kairos Minerals Ltd 0.045 50% 50% 13% $78,563,739.64
IR1 Irismetals 2.33 248% 43% 10% $129,044,400.00
CRR Critical Resources 0.083 41% 77% 8% $114,577,173.40
MMG Monger Gold Ltd 0.535 73% 10% 7% $20,020,000.00
AOA Ausmon Resorces 0.0085 42% 6% 6% $6,858,314.74
AS2 Askarimetalslimited 0.38 -3% 4% 6% $16,224,937.20
XTC Xantippe Res Ltd 0.0095 -14% 6% 6% $73,307,068.65
PLS Pilbara Min Ltd 4.8 51% 7% 5% $13,699,934,232.93
CZL Cons Zinc Ltd 0.023 5% -4% 5% $8,521,871.89
DRE Dreadnought Resources Ltd 0.12 36% 0% 4% $349,891,358.37
INF Infinity Lithium 0.1825 22% -4% 4% $72,802,286.55
CY5 Cygnus Gold Limited 0.245 2% -16% 4% $34,588,549.03
GSM Golden State Mining 0.05 -21% -4% 4% $5,616,681.79
SRI Sipa Resources Ltd 0.052 18% 16% 4% $10,251,240.15
BNR Bulletin Res Ltd 0.14 0% -7% 4% $39,499,798.50
AM7 Arcadia Minerals 0.29 61% 5% 4% $13,075,409.76
IGO IGO Limited 14.5 18% 1% 3% $10,616,894,738.26
AML Aeon Metals Ltd. 0.031 3% 0% 3% $32,802,923.19
GLN Galan Lithium Ltd 1.415 3% -1% 3% $417,260,736.97
MIN Mineral Resources. 68.41 13% -4% 3% $12,574,329,800.79
RAG Ragnar Metals Ltd 0.037 -21% 0% 3% $13,650,656.00
LIS Lisenergylimited 0.585 -15% 1% 3% $94,571,086.59
NVA Nova Minerals Ltd 0.8 -8% -9% 3% $143,255,794.50
AKE Allkem Limited 15.415 23% -3% 2% $9,609,507,356.02
ZEO Zeotech Limited 0.05 -21% 0% 2% $76,533,858.03
EMS Eastern Metals 0.1275 -18% 6% 2% $4,832,031.25
LNR Lanthanein Resources 0.055 96% -2% 2% $51,992,580.78
WES Wesfarmers Limited 45.74 -5% -3% 2% $51,045,487,694.84
WR1 Winsome Resources 0.325 20% 0% 2% $43,236,478.08
AAJ Aruma Resources Ltd 0.066 -18% -1% 2% $10,202,497.70
RGL Riversgold 0.0385 1% 7% 1% $29,457,217.57
AZL Arizona Lithium Ltd 0.088 -12% 0% 1% $209,663,523.81
TYX Tyranna Res Ltd 0.0495 34% 10% 1% $115,437,172.68
CAI Calidus Resources 0.555 -18% -10% 1% $240,779,937.75
PLL Piedmont Lithium Inc 0.8775 -6% -7% 1% $458,986,596.00
LTR Liontown Resources 1.645 -5% -9% 1% $3,591,171,797.25
RIO Rio Tinto Limited 93.01 -3% -1% 1% $34,318,938,984.30
EUR European Lithium Ltd 0.0885 -1% 2% 1% $123,221,047.40
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,203.44
CXO Core Lithium 1.44 -3% -10% 0% $2,501,561,312.64
LIT Lithium Australia 0.059 -28% -3% 0% $71,958,949.39
QPM Queensland Pacific 0.16 14% 7% 0% $250,178,100.96
PSC Prospect Res Ltd 0.092 -12% -1% 0% $42,527,870.50
RLC Reedy Lagoon Corp. 0.015 -6% -6% 0% $8,361,403.68
TKL Traka Resources 0.007 0% 0% 0% $4,821,421.93
AX8 Accelerate Resources 0.037 -5% 3% 0% $10,006,979.26
BYH Bryah Resources Ltd 0.029 4% 7% 0% $8,098,350.75
FG1 Flynngold 0.105 9% 11% 0% $6,726,410.25
IMI Infinitymining 0.24 55% 26% 0% $13,800,000.00
MMC Mitremining 0.18 57% 9% 0% $4,875,318.00
SHH Shree Minerals Ltd 0.01 0% 25% 0% $12,384,868.92
TSC Twenty Seven Co. Ltd 0.002 -5% 0% 0% $5,321,627.81
WML Woomera Mining Ltd 0.018 0% 13% 0% $12,362,995.19
MTM Mtmongerresources 0.14 17% -3% 0% $5,251,404.62
SCN Scorpion Minerals 0.08 19% -2% 0% $26,546,495.36
AZI Altamin Limited 0.088 6% -7% 0% $34,471,074.18
ENT Enterprise Metals 0.012 9% 20% 0% $7,835,768.26
STM Sunstone Metals Ltd 0.04 -18% -11% 0% $103,857,856.76
AVW Avira Resources Ltd 0.0045 -10% 0% 0% $9,534,555.00
RMX Red Mount Min Ltd 0.006 0% -14% 0% $9,854,183.15
A8G Australasian Metals 0.295 11% 5% 0% $12,145,295.73
EFE Eastern Resources 0.031 -3% 11% 0% $31,208,651.70
SRZ Stellar Resources 0.014 -18% -7% 0% $13,512,766.76
LSR Lodestar Minerals 0.0065 -19% -7% 0% $11,299,842.76
VKA Viking Mines Ltd 0.008 0% 0% 0% $8,202,067.45
ZNC Zenith Minerals Ltd 0.295 -5% -6% 0% $101,704,872.31
G88 Golden Mile Res Ltd 0.033 10% -3% 0% $6,751,461.95
EPM Eclipse Metals 0.023 0% -8% 0% $46,557,907.50
EVR Ev Resources Ltd 0.031 -9% 7% 0% $28,705,506.20
THR Thor Mining PLC 0.0105 5% -13% 0% $11,541,214.91
MM1 Midasmineralsltd 0.2 -20% -5% 0% $11,426,352.80
M2R Miramar 0.105 5% -13% 0% $6,739,599.62
LRD Lordresourceslimited 0.26 24% 4% 0% $8,654,001.46
WMC Wiluna Mining Corp 0.205 0% 0% 0% $74,238,030.68
DAF Discovery Alaska Ltd 0.076 38% -5% 0% $17,041,837.05
DAL Dalaroometalsltd 0.135 36% 29% 0% $4,033,125.00
INR Ioneer Ltd 0.6725 -4% -3% 0% $1,416,240,501.30
TUL Tulla Resources 0.48 -9% -8% -1% $77,705,182.92
DTM Dart Mining NL 0.091 14% -9% -1% $14,217,677.70
MNS Magnis Energy Tech 0.455 3% -9% -1% $446,352,482.18
VUL Vulcan Energy 7.91 -13% -9% -1% $1,146,682,408.00
EMH European Metals Hldg 0.84 -12% 5% -1% $101,777,702.90
AOU Auroch Minerals Ltd 0.077 15% 24% -1% $28,946,720.32
MQR Marquee Resource Ltd 0.069 -21% -9% -1% $22,093,230.60
LPD Lepidico Ltd 0.0285 -8% -5% -2% $188,708,545.76
NMT Neometals Ltd 1.2675 -9% -17% -2% $712,526,995.32
AGY Argosy Minerals Ltd 0.545 38% 15% -2% $758,701,173.81
FTL Firetail Resources 0.255 2% 2% -2% $16,063,450.00
RAS Ragusa Minerals Ltd 0.25 35% -2% -2% $32,804,237.34
ESS Essential Metals Ltd 0.49 -3% -5% -2% $123,741,217.50
MLS Metals Australia 0.049 -21% -6% -2% $30,351,809.55
WCN White Cliff Min Ltd 0.0245 104% -9% -2% $18,690,084.05
MXR Maximus Resources 0.047 -16% -8% -2% $15,307,476.86
LPI Lithium Pwr Int Ltd 0.595 -4% -8% -2% $238,632,686.86
JRL Jindalee Resources 2.57 -10% 0% -3% $151,480,470.24
TEM Tempest Minerals 0.036 -18% -5% -3% $18,676,348.51
VMC Venus Metals Cor Ltd 0.17 0% 0% -3% $28,013,769.53
TMB Tambourahmetals 0.165 -6% 6% -3% $7,002,741.66
KTA Krakatoa Resources 0.065 5% 7% -3% $23,095,564.44
GT1 Greentechnology 0.77 0% -1% -3% $151,637,022.44
PAM Pan Asia Metals 0.435 -10% 4% -3% $33,264,108.90
MRR Minrex Resources Ltd 0.054 -8% -2% -4% $60,283,423.37
KZR Kalamazoo Resources 0.255 -7% 9% -4% $39,033,009.11
GL1 Globallith 2.67 42% 22% -4% $441,181,151.68
TON Triton Min Ltd 0.024 -20% -25% -4% $34,569,604.43
ARN Aldoro Resources 0.23 -12% -10% -4% $23,900,956.08
LRS Latin Resources Ltd 0.115 -8% -4% -4% $234,371,238.24
NWM Norwest Minerals 0.045 -8% -18% -4% $8,488,547.19
ASN Anson Resources Ltd 0.3675 137% -6% -5% $396,743,085.59
AUN Aurumin 0.105 -34% -9% -5% $13,783,785.18
OCN Oceanalithiumlimited 0.625 -10% -2% -5% $21,958,875.00
LLL Leolithiumlimited 0.725 28% 15% -6% $764,659,106.80
IPT Impact Minerals 0.007 -22% 0% -7% $18,610,279.17
CHR Charger Metals 0.56 6% 6% -7% $19,726,651.18
PGD Peregrine Gold 0.56 -38% -27% -7% $23,426,541.38
TKM Trek Metals Ltd 0.067 -4% 5% -8% $22,674,540.95
GW1 Greenwing Resources 0.33 14% 18% -8% $44,369,045.64
LEL Lithenergy 1.14 7% -1% -8% $56,211,750.00
SYA Sayona Mining Ltd 0.265 -4% -18% -9% $2,408,254,014.23
FRS Forrestaniaresources 0.21 27% -16% -9% $7,673,099.92
LRV Larvottoresources 0.21 -18% -7% -9% $9,552,475.00
ALY Alchemy Resource Ltd 0.021 11% 5% -9% $21,920,746.97
PNN Power Minerals Ltd 0.62 5% -5% -9% $41,874,474.12
RDT Red Dirt Metals Ltd 0.67 49% -2% -9% $225,370,275.24
WC8 Wildcat Resources 0.036 24% 6% -10% $25,810,909.08
1MC Morella Corporation 0.0245 -13% -13% -13% $161,438,082.01

 

 

A total of 43 stocks were in the green, 39 were flat and 49 were red.

 

Who has news out today? 

 

GOLD MOUNTAIN MINING (ASX:GMN)

The company has signed a binding heads of agreement with Mars Mines to acquire up to 75% in a package of Brazilian lithium licences including the Cerro Cora and Porta D’Agua, Custodia, Juremal and Jacurici project areas.

All four projects are located in areas known to host lithium-bearing pegmatites and are along strike from and covering known pegmatite bodies.

“We are excited about the proposed acquisition of up to 75% interest in these highly prospective lithium projects in northeastern Brazil,” CEO Tim Cameron said.

“Over the last number of months, we have been reviewing a range of potential acquisition opportunities to diversify our project portfolio; we believe that, given the location and commodity, these projects offer the company the best opportunity to increase shareholder value.

“Brazil has seen increased interest from junior explorers and major mining houses, with the region being home to a number of lithium projects.”

 


LAKE RESOURCES (ASX:LKE)

Last week LKE admitted it was having an argument with tech partner Lilac Solutions re demonstration plant deadlines.

LKE and Lilac are using Direct Lithium Injection (DLE), which promises to produce cheaper, higher quality, and more environmentally friendly lithium than incumbent processes.

DLE has been used in water treatment for decades  but its use in the lithium sector is in its infancy.

And today the company attempted to alleviate investor concern about the tech, saying today that “all parties are confident on-site operations will be successful”.

“Lake confirms that construction of the facility to house the Lilac demonstration plant is now complete,” it says.

“Dry commissioning of the demonstration plant commenced on Wednesday September 14.

“Lilac has advised Lake that, subject to completion of dry commissioning, it expects to begin wet commissioning of the plant on September 22; once wet commissioning is complete, Lilac expects to begin onsite processing of Kachi brines in the first week of October.”

The first 2000 litres of lithium concentrate produced from the demonstration plant (a smaller version of the real thing) will be converted into lithium carbonate, which will be qualified by a tier 1 battery maker.

 

JINDALEE RESOURCES (ASX:JRL)

The company says drilling at its McDermitt project in the US has returned 29.2m at 1853 ppm li from 20.8m and 18.5m at 1844 ppm li from 10.5m.

The program is designed to infill and extend the Mineral Resource Estimate (MRE) of 1.82 Bt at 1,370 ppm lithium for 13.3 Mt Lithium Carbonate Equivalent (LCE) at 1,000ppm Li cut-off.

More assay results from the completed drilling are expected to be received early October. 

 

GMN, LKE and JRL share prices today:

 

 

 

 

At Stockhead we tell it like it is. While Gold Mountain Mining is a Stockhead advertiser, it did not sponsor this article.

The post Eye on Lithium: Lithium prices have tripled in the last year and is anyone even surprised appeared first on Stockhead.

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