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Morningstar: ‘True Demand’ is 1Mt more than the 2.3Mt Demand Estimates By 2030

Morningstar says ‘true demand’ for lithium in 2030 will be 3.3mt Jindalee Resources updates the McDermitt mineral resource to 1.82 … Read More
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  • Morningstar says ‘true demand’ for lithium in 2030 will be 3.3mt
  • Jindalee Resources updates the McDermitt mineral resource to 1.82 billion tonnes at 1,370ppm Li
  • Anson Resources says historic diamond core and cuttings from Paradox speed up the JORC resource upgrade timeline

All your ASX lithium news for Wednesday, July 6

 

Morningstar chief US market strategist Dave Sekera told Reuters that he expects lithium use to reach 2.3mt by 2030.

For context, around 473,000 tonnes of lithium were used last year.

But Sekera also said the ‘true demand’ for lithium is another 1mt on top of that.

“The true demand for lithium, the amount that we think would be used if there was enough supply out there, would actually be about 3.3mt,” he said.

“With the amount of undersupply out there over the decade, we do think lithium will be very profitable until 2030.”

Sekera flagged that 2025 will probably be the peak year where we see the most underproduction but that it should start to level out after that point as more mines come online and ramp up to their full capacity.

 

Undervalued US stock picks

Sekera also flagged a couple of companies Morningstar has their eye on, specifically Lithium Americas (NYSE:LAC) who he thinks is undervalued.

“We think that stock could actually triple up to $65 a share,” he said.

“Now I would note it is a very risky situation, the company is still in its start-up phase and it hasn’t yet begun production.

“In addition, there are several environmental groups that have sued the government in order to appeal to company’s project permit.

“Our analyst team has reviewed comparable projects in the US in the past and based on that analysis, we’re pretty sure that the courts will rule in favour of that permit – and that could actually begin as soon as the second half of this year.”

ICYMI, environmental groups are suing the Bureau of Land Management over the company’s plans to mine the Thacker Pass lithium-clay deposit in Nevada.

For investors looking for less risky situations, Sekera recommends taking a look at Albemarle (NYSE:ALB).

“That’s actually one of our top picks as we think the company produces lithium from two of the best lithium resources in the world,” he said.

 

Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

 

Code Company Price % Month % Week % Today Market Cap
FRS Forrestaniaresources 0.19 3% 46% 41% $3,953,651.04
ALY Alchemy Resource Ltd 0.016 -33% 23% 14% $13,343,036.80
FTL Firetail Resources 0.275 -8% 0% 12% $15,136,712.50
TYX Tyranna Res Ltd 0.02 5% 43% 11% $27,582,492.01
LRV Larvottoresources 0.235 -25% -19% 9% $8,929,487.50
1MC Morella Corporation 0.0185 -23% 3% 9% $87,995,637.76
EFE Eastern Resources 0.026 -10% 13% 8% $23,866,479.14
DAL Dalaroometalsltd 0.105 -5% 24% 7% $2,927,750.00
LIS Lisenergylimited 0.535 -5% 5% 7% $82,957,093.50
ARN Aldoro Resources 0.16 -22% 19% 7% $14,882,038.35
KAI Kairos Minerals Ltd 0.022 -12% 16% 5% $41,203,963.31
LRD Lordresourceslimited 0.225 -13% 0% 5% $6,833,693.52
INF Infinity Lithium 0.12 -8% 0% 4% $47,726,502.59
MXR Maximus Resources 0.048 -32% 7% 4% $14,623,665.33
QPM Queensland Pacific 0.13 -16% 13% 4% $195,451,641.38
IMI Infinitymining 0.14 -13% 4% 4% $7,762,500.00
QXR Qx Resources Limited 0.03 -32% 3% 3% $24,921,507.31
A8G Australasian Metals 0.21 -42% -13% 2% $8,439,951.27
ASN Anson Resources Ltd 0.1075 -20% 9% 2% $107,930,795.18
M2R Miramar 0.092 -20% 8% 2% $5,776,799.67
WMC Wiluna Mining Corp 0.235 -51% -10% 2% $83,291,449.05
WES Wesfarmers Limited 44.26 -6% 3% 2% $49,265,358,514.90
LIT Lithium Australia 0.063 -25% 15% 2% $64,195,378.15
CHR Charger Metals 0.365 -28% -1% 1% $11,729,172.60
PSC Prospect Res Ltd 0.9775 1% 1% 1% $433,052,880.83
LLL Leolithiumlimited 0.4825 0% -20% 1% $473,595,317.76
ADV Ardiden Ltd 0.0075 -32% 7% 0% $20,012,515.17
AML Aeon Metals Ltd. 0.025 -22% 14% 0% $24,778,283.08
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,203.44
EMH European Metals Hldg 0.67 -29% -6% 0% $80,308,120.22
JRL Jindalee Resources 2.9 -14% 2% 0% $166,399,001.40
LPD Lepidico Ltd 0.027 -7% 0% 0% $175,693,631.39
RLC Reedy Lagoon Corp. 0.018 -22% 6% 0% $10,033,684.42
TKL Traka Resources 0.006 -25% 0% 0% $4,132,647.37
BMM Balkanminingandmin 0.18 -31% 0% 0% $5,895,000.00
LEL Lithenergy 0.695 -39% -3% 0% $31,379,250.00
AM7 Arcadia Minerals 0.16 -32% -18% 0% $7,471,662.72
BYH Bryah Resources Ltd 0.028 -39% -18% 0% $6,333,800.90
DTM Dart Mining NL 0.053 -20% -7% 0% $7,168,788.48
EMS Eastern Metals 0.15 -9% 15% 0% $5,340,000.00
MMC Mitremining 0.13 -4% 8% 0% $3,521,063.00
TSC Twenty Seven Co. Ltd 0.003 -14% 0% 0% $7,982,441.72
WML Woomera Mining Ltd 0.018 -22% 0% 0% $12,362,995.19
KGD Kula Gold Limited 0.029 -3% 45% 0% $6,240,093.33
PNN Power Minerals Ltd 0.44 -10% 1% 0% $27,067,420.60
MTM Mtmongerresources 0.115 -45% -15% 0% $4,169,903.80
AZI Altamin Limited 0.096 1% 0% 0% $37,604,808.19
ENT Enterprise Metals 0.011 -21% 38% 0% $7,091,115.41
STM Sunstone Metals Ltd 0.046 -12% 12% 0% $118,424,535.23
PGD Peregrine Gold 0.36 -23% 1% 0% $13,783,200.84
BNR Bulletin Res Ltd 0.125 -26% 9% 0% $36,573,887.50
SRZ Stellar Resources 0.017 -19% 6% 0% $14,268,144.64
LSR Lodestar Minerals 0.008 0% 33% 0% $13,907,498.78
AOA Ausmon Resorces 0.006 -25% 20% 0% $5,143,736.06
VKA Viking Mines Ltd 0.007 -13% 17% 0% $7,176,809.02
IPT Impact Minerals 0.008 -27% 0% 0% $19,850,964.45
SRI Sipa Resources Ltd 0.037 -3% 6% 0% $7,585,917.71
VMC Venus Metals Cor Ltd 0.17 -6% 6% 0% $27,213,376.11
ZNC Zenith Minerals Ltd 0.26 -32% -4% 0% $89,638,192.54
EPM Eclipse Metals 0.019 -27% 0% 0% $36,501,401.85
THR Thor Mining PLC 0.01 -23% 0% 0% $10,689,009.73
CZL Cons Zinc Ltd 0.019 -21% 6% 0% $6,903,798.45
XTC Xantippe Res Ltd 0.008 -20% 0% 0% $63,569,188.51
MMG Monger Gold Ltd 0.205 -34% -21% 0% $8,208,200.00
AUN Aurumin 0.11 -29% 0% 0% $12,014,557.72
GW1 Greenwing Resources 0.225 -20% 7% 0% $27,730,653.53
TKM Trek Metals Ltd 0.057 -30% -10% 0% $17,704,778.55
CY5 Cygnus Gold Limited 0.15 -12% -3% 0% $17,697,797.25
TEM Tempest Minerals 0.088 69% 19% -1% $44,924,189.66
PAM Pan Asia Metals 0.42 -24% -11% -1% $31,416,102.85
RAS Ragusa Minerals Ltd 0.084 -35% -1% -1% $10,687,573.26
RDT Red Dirt Metals Ltd 0.4 -18% -7% -1% $123,344,542.53
AOU Auroch Minerals Ltd 0.059 -31% 4% -2% $22,167,107.94
PLL Piedmont Lithium Inc 0.525 -36% -17% -2% $282,250,378.00
AS2 Askarimetalslimited 0.245 -41% -9% -2% $10,398,567.50
CXO Core Lithium 0.93 -23% -11% -2% $1,645,981,130.20
INR Ioneer Ltd 0.425 -20% -2% -2% $912,254,508.00
MNS Magnis Energy Tech 0.3075 -19% -1% -2% $304,442,878.64
GSM Golden State Mining 0.039 -37% -3% -3% $4,656,852.76
TON Triton Min Ltd 0.0175 -35% 3% -3% $22,658,115.19
LRS Latin Resources Ltd 0.07 -27% 6% -3% $138,964,589.14
EUR European Lithium Ltd 0.06 -17% -2% -3% $85,747,534.31
AZL Arizona Lithium Ltd 0.088 -32% -2% -3% $203,248,226.09
RGL Riversgold 0.029 -28% 0% -3% $22,691,279.97
G88 Golden Mile Res Ltd 0.029 -41% -3% -3% $6,111,978.42
AX8 Accelerate Resources 0.028 -15% -18% -3% $7,640,308.07
EVR Ev Resources Ltd 0.027 -29% -4% -4% $25,927,553.99
NMT Neometals Ltd 0.905 -28% -2% -4% $515,473,812.24
AGY Argosy Minerals Ltd 0.3225 -31% -1% -4% $454,277,080.65
WC8 Wildcat Resources 0.025 -32% 0% -4% $16,777,090.90
IGO IGO Limited 9.53 -21% -9% -4% $7,512,096,704.96
ESS Essential Metals Ltd 0.365 -28% -6% -4% $93,665,221.50
SCN Scorpion Minerals 0.07 -27% 0% -4% $24,223,677.02
MQR Marquee Resource Ltd 0.068 -35% 6% -4% $22,408,848.18
DRE Dreadnought Resources Ltd 0.045 10% 2% -4% $133,418,126.90
VUL Vulcan Energy 5.55 -28% -6% -4% $829,945,484.20
PLS Pilbara Min Ltd 2.16 -12% -10% -4% $6,727,677,347.84
AKE Allkem Limited 9.53 -20% -11% -5% $6,376,580,860.00
WR1 Winsome Resources 0.2 -49% -9% -5% $28,373,938.74
MM1 Midasmineralsltd 0.2 -35% 3% -5% $11,432,006.25
LPI Lithium Pwr Int Ltd 0.4425 -13% 8% -5% $162,352,354.32
LTR Liontown Resources 0.955 -25% -10% -5% $2,203,186,323.99
RAG Ragnar Metals Ltd 0.037 -20% -8% -5% $14,788,210.67
KZR Kalamazoo Resources 0.18 -48% 0% -5% $27,586,931.06
NVA Nova Minerals Ltd 0.72 7% 13% -5% $136,953,736.60
LNR Lanthanein Resources 0.018 -14% 13% -5% $15,918,685.83
CAI Calidus Resources 0.625 -24% 4% -5% $266,220,674.28
TUL Tulla Resources 0.53 -15% 2% -5% $89,721,448.32
GL1 Globallith 1.145 -30% -11% -5% $192,024,889.76
MIN Mineral Resources. 43.05 -29% -13% -5% $8,610,549,661.17
MRR Minrex Resources Ltd 0.035 -31% -3% -5% $39,225,437.56
LKE Lake Resources 0.7175 -50% -14% -6% $1,056,179,528.56
GLN Galan Lithium Ltd 1 -27% -15% -6% $324,185,320.53
ZEO Zeotech Limited 0.046 -26% -4% -6% $74,720,858.03
RIO Rio Tinto Limited 94.11 -19% -12% -7% $37,411,170,046.92
FG1 Flynngold 0.14 8% 63% -7% $9,609,157.50
TMB Tambourahmetals 0.13 -38% -10% -7% $5,766,963.72
NWM Norwest Minerals 0.025 -40% -11% -7% $4,876,399.45
SYA Sayona Mining Ltd 0.1525 -10% -13% -8% $1,360,714,190.55
IR1 Irismetals 0.24 -35% 0% -8% $15,502,500.00
CRR Critical Resources 0.044 -38% -4% -8% $71,424,731.47
GT1 Greentechnology 0.55 -43% -12% -8% $110,561,785.80
RMX Red Mount Min Ltd 0.0055 -21% 0% -8% $9,854,183.15
MLS Metals Australia 0.048 -36% -4% -9% $30,105,918.12
DAF Discovery Alaska Ltd 0.043 -28% -14% -10% $10,763,265.50
SHH Shree Minerals Ltd 0.008 -16% 14% -11% $11,146,382.03
AAJ Aruma Resources Ltd 0.061 -21% 3% -12% $10,830,343.71
KTA Krakatoa Resources 0.047 -40% 4% -12% $18,441,980.56
WCN White Cliff Min Ltd 0.01 -47% -23% -17% $7,843,240.34
AVW Avira Resources Ltd 0.003 -40% -14% -25% $8,475,160.00

Oof. Only 26 stocks were in the green today, 42 were flat and 62 were in the red.

 

Who’s got news out today?

JINDALEE RESOURCES (ASX:JRL)

Jindalee has updated its Mineral Resource Estimate (MRE) at the company’s McDermitt Lithium Project in the US.

The combined Indicated and Inferred Mineral Resource now stands at 1.82 billion tonnes at 1,370ppm Li, for a total of 13.3 million tonnes Lithium Carbonate Equivalent (LCE) at 1,000 ppm cut-off grade.

The company is currently progressing environmental baseline studies ahead of submitting an application for an Exploration Plan of Operation (EPO) in the March quarter 2023.

 

ANSON RESOURCES (ASX:ASN)

The discovery of historic diamond core and cuttings from the Paradox lithium project in Utah has sped up the timeline for the JORC resource upgrade for Anson.

The company says it will deliver a significant time and cost saving in upgrading the existing exploration target at Paradox into indicated and inferred resources.

This means a quicker turnaround time for the delivery of the definitive feasibility study (DFS) and the proposed commencement of production at Paradox.

Results of these tests will be used to calculate transitivity, permeability, and resistivity in these wells, which are not included in Anson’s ongoing resource expansion drilling program.

The company says that, a result of this work, the area around these wells may be upgraded from inferred to the indicated JORC resource category.

 

ZENITH MINERALS (ASX:ZNC)

The company has intersected new lithium pegmatites at its Waratah Well JV project with EV Metals Group in WA.

Shallow slimline RC drilling to test an area covered by soil, has returned pegmatites in 22 out of 47 holes, over an area 2km x 1.5km.

Results include 7m at 0.67% Li2O, including 3m at 1.31% Li2O in fresh rock at the base of a 24m thick pegmatite.

Deeper RC drilling is now planned to test the lithium rich pegmatites at depth and across strike in fresh rock.

 

KALAMAZOO RESOURCES (ASX:KZR)

Kalamazoo has kicked off maiden RC drilling at its Pilbara lithium projects, with ~4,000m underway at the Marble Bar Lithium Project and  ~1,000m underway at the nearby DOM’s Hill Lithium Project.

The projects are part of the company’s JV with Chilean lithium producer Sociedad Química y Minera de Chile S.A. (NYSE: SQM).

The Marble Bar project is considered highly prospective for lithium-caesium-tantalum (LCT) mineralisation – not to mention the Archer Lithium Deposit owned by Global Lithium Resources (ASX: GL1) with a reported maiden Inferred Resource of 10.5Mt @ 1.0% Li2O is just 25km to the north.

Kalamazoo thinks DOM’s Hill is highly prospective for LCT-mineralised pegmatite dykes given the project contains a similar geological setting and host rocks strongly analogous to that of the nearby Pilgangoora and Wodgina pegmatite-hosted lithium deposits.

 

ACTIVEX (ASX:AIV)

This gold, copper and lithium explorer flagged encouraging lithium and critical metal assays from Dividend Gully, which hosts the historical bismuth gold and tantalum prospect that sits within the Gilberton project in North Queensland.

Results include 1012 ppm lithium oxide, 45.9ppm caesium and 0.14% barium.

“The completion of our first round of lithium and other critical metal sampling marks an exciting step forward at Gilberton, which is prospective for gold, lithium and other critical metals,” MD Mark Derriman said.

“Dividend Gully is within the Mountain Maid Metallogenic Province and is one of a number of unexplored historic tantalum occurrences at Gilberton which will now be tested for lithium and other critical metal mineralisation.”

Follow-up surface exploration is planned for early August.

 

 

JRL, ASN, ZNC, KZR, and AIV share prices today:


 

 

At Stockhead we tell it like it is. While Anson Resources is a Stockhead advertiser, it did not sponsor this article.

 

 

The post Eye on Lithium: By 2030 lithium usage will grow to 2.3Mt but ‘true demand’ is 1Mt more, Morningstar says appeared first on Stockhead.

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