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Eye on Lithium: China’s looking to lock in supplies

Xantippe Resources exercises option to acquire Carolina Lithium Flynn Gold granted seven gold-lithium licences in Western Australia Mineralogical test…

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This article was originally published by Stockhead
  • Xantippe Resources exercises option to acquire Carolina Lithium
  • Flynn Gold granted seven gold-lithium licences in Western Australia
  • Mineralogical test work returns positive results for Arcadia Minerals

All your ASX lithium news for Monday, March 7.

The competition for lithium supplies is poised to become even more interesting with the heads of China’s largest battery manufacturers calling on the government to strengthen the country’s supply chain.

Tianqi Lithium chairman Jiang Weiping told China’s annual parliamentary session that extraction of lithium resources in the southwestern Sichuan province – home to the country’s richest and most accessible deposits – should be expedited.

Meanwhile, Contemporary Amperex Technology Limited (CATL) Chairman Zeng Yuqun called on China to accelerate the exploration and development of lithium resources, encourage independent scientific and technological research, and improve the level of resource recycling.

Accelerating domestic production to secure supplies seems sensible when you consider that China currently relies on imports for three quarters of its lithium.

If successful, this might well reduce this reliance on imports and potentially reduce competition.

But that is not to say China is entirely abandoning external sources of lithium, as highlighted by CATL’s own (losing) bid for Canada’s Millennial Lithium Corp.

This line starts at the back

Nor is China the only country scrambling for lithium.

The US continues to import the battery metal at record rates with S&P Global flagging imports hit a quarterly record of 103,889 metric tons in the final three months of 2021, up 137% from the same period the previous year.

This strong demand has fuelled a dramatic increase in spot lithium carbonate prices, which rose to $US63,900 in February, that’s up more than 450% on the same time the previous year.

 

Here’s how ASX lithium stocks are tracking today:

Code Company Price % Month % Week % Today Market Cap
RMX Red Mount Minerals 0.0085 -15.0% 6.3% 6.3% $13,138,911
IGO IGO Limited 12.93 7.1% 18.4% 6.2% $9,223,521,962
LIT Lithium Australia NL 0.11 -12.0% 0.0% 4.8% $108,419,913
AGY Argosy Minerals Ltd 0.335 -4.3% 8.1% 4.7% $420,149,309
SRZ Stellar Resources 0.027 17.4% 8.0% 3.8% $21,769,868
RAG Ragnar Metals Ltd 0.028 -26.3% -12.5% 3.7% $10,062,492
LTR Liontown Resources 1.5875 8.7% 11.0% 2.4% $3,397,949,057
TMB Tambourahmetals 0.22 -13.7% 10.0% 2.3% $8,856,409
AM7 Arcadia Minerals 0.23 -2.1% 12.2% 2.2% $7,873,313
A8G Australasian Metals 0.48 -9.4% 6.7% 2.1% $18,880,132
SYA Sayona Mining Ltd 0.1325 6.0% 17.8% 1.9% $922,599,758
FFX Firefinch Ltd 0.7075 10.5% 9.7% 1.8% $818,804,659
AZI Altamin Limited 0.069 7.8% 2.2% 1.5% $26,443,293
LKE Lake Resources 1.0025 12.6% 10.8% 1.3% $1,210,276,482
ADV Ardiden Ltd 0.012 -25.0% -7.7% 0.0% $31,927,708
GXY Galaxy Resources 0 -100.0% -100.0% 0.0% $2,715,139,305
PLS Pilbara Min Ltd 2.82 -14.8% 2.9% 0.0% $8,394,566,178
PSC Prospect Res Ltd 0.845 1.8% -6.1% 0.0% $364,443,157
RLC Reedy Lagoon Corp. 0.025 -24.2% 0.0% 0.0% $13,696,431
TKL Traka Resources 0.011 -26.7% 0.0% 0.0% $7,576,520
TON Triton Min Ltd 0.029 -9.4% -6.5% 0.0% $36,040,741
ARN Aldoro Resources 0.36 -2.7% -5.3% 0.0% $32,305,892
AS2 Askarimetalslimited 0.375 -7.4% 7.1% 0.0% $14,298,759
FG1 Flynngold 0.165 -2.9% 0.0% 0.0% $10,570,073
IMI Infinitymining 0.17 0.0% -2.9% 0.0% $9,775,000
LRV Larvottoresources 0.185 -30.2% -5.1% 0.0% $7,572,513
SHH Shree Minerals Ltd 0.017 -5.6% 6.3% 0.0% $18,075,027
TEM Tempest Minerals 0.023 -8.0% 0.0% 0.0% $9,151,721
TSC Twenty Seven Co. Ltd 0.0045 12.5% 12.5% 0.0% $11,973,663
WML Woomera Mining Ltd 0.017 -15.0% 6.3% 0.0% $11,591,162
KGD Kula Gold Limited 0.045 -2.2% 7.1% 0.0% $9,682,903
LRS Latin Resources Ltd 0.039 30.0% 8.3% 0.0% $56,265,969
KZR Kalamazoo Resources 0.29 -12.1% -2.5% 0.0% $42,106,368
QXR Qx Resources Limited 0.047 20.5% 51.6% 0.0% $35,525,529
SCN Scorpion Minerals 0.071 4.4% 4.4% 0.0% $19,134,940
ENT Enterprise Metals 0.014 0.0% -6.7% 0.0% $8,022,282
KAI Kairos Minerals Ltd 0.022 -15.4% -4.3% 0.0% $43,166,057
AVW Avira Resources Ltd 0.005 11.1% 0.0% 0.0% $10,593,950
NVA Nova Minerals Ltd 0.59 -28.0% -35.2% 0.0% $106,319,348
CAI Calidus Resources 0.79 14.5% 8.2% 0.0% $316,209,361
EFE Eastern Resources 0.049 -14.0% -3.9% 0.0% $48,421,237
AOA Ausmon Resorces 0.008 14.3% 14.3% 0.0% $6,858,315
VKA Viking Mines Ltd 0.012 -14.3% 0.0% 0.0% $12,303,101
MIN Mineral Resources. 47.62 -18.0% 6.2% -0.6% $9,047,813,609
INR Ioneer Ltd 0.52 -22.4% -3.7% -1.0% $1,076,537,909
PLL Piedmont Lithium Inc 0.79 18.8% 16.2% -1.3% $423,587,120
STM Sunstone Metals Ltd 0.077 -13.5% 1.3% -1.3% $174,682,636
CRR Critical Resources 0.076 -24.0% 1.3% -1.3% $113,758,761
WR1 Winsome Resources 0.35 -17.6% 2.9% -1.4% $47,733,298
BNR Bulletin Res Ltd 0.1475 28.3% 18.0% -1.7% $42,833,987
MRR Minrex Resources Ltd 0.057 -12.3% 1.8% -1.7% $51,188,924
NWM Norwest Minerals 0.055 -9.8% 1.9% -1.8% $10,114,014
RDT Red Dirt Metals Ltd 0.52 -27.3% -4.6% -1.9% $158,518,743
PGD Peregrine Gold 0.51 -2.9% 1.0% -1.9% $19,852,627
AX8 Accelerate Resources 0.044 10.0% 12.8% -2.2% $11,405,650
MMC Mitremining 0.19 2.7% -5.0% -2.6% $5,281,595
AKE Allkem Limited 9.69 5.0% 6.5% -2.7% $6,349,754,837
ESS Essential Metals Ltd 0.34 -27.7% 6.3% -2.9% $85,490,558
ESS Essential Metals Ltd 0.34 -27.7% 6.3% -2.9% $85,490,558
CHR Charger Metals 0.645 -22.8% 4.9% -3.0% $21,655,305
MTM Mtmongerresources 0.16 -3.0% -3.0% -3.0% $5,149,655
GT1 Greentechnology 0.78 -9.3% 3.3% -3.1% $85,330,000
DTM Dart Mining NL 0.082 1.2% -18.0% -3.5% $10,581,729
AZL Arizona Lithium Ltd 0.135 -15.6% 17.4% -3.6% $279,687,304
GLN Galan Lithium Ltd 1.32 -14.0% -3.6% -3.6% $406,697,308
PNN PepinNini Minerals 0.395 -17.7% 0.0% -3.7% $25,099,509
CXO Core Lithium 0.915 16.6% 21.2% -3.7% $1,611,818,170
PAM Pan Asia Metals 0.51 -16.4% 4.1% -3.8% $39,039,081
GSM Golden State Mining 0.076 -14.6% -3.8% -3.8% $6,563,951
WCN White Cliff Min Ltd 0.025 0.0% 4.2% -3.8% $16,916,286
LSR Lodestar Minerals 0.0125 38.9% 25.0% -3.8% $22,599,686
AML Aeon Metals Ltd. 0.048 6.7% 0.0% -4.0% $43,290,444
ASN Anson Resources Ltd 0.12 -14.3% 9.1% -4.0% $127,674,910
1MC Morella Corporation 0.023 -14.8% 15.0% -4.2% $124,229,136
BYH Bryah Resources Ltd 0.046 -17.9% -2.1% -4.2% $10,857,944
JRL Jindalee Resources 2.85 -14.4% 9.6% -4.4% $161,229,819
AVZ AVZ Minerals Ltd 0.875 13.6% 17.4% -4.4% $3,158,637,718
LPD Lepidico Ltd 0.0305 -17.6% 1.7% -4.7% $199,914,015
LPI Lithium Pwr Int Ltd 0.61 -14.1% 8.9% -4.7% $223,212,703
NMT Neometals Ltd 1.42 -0.4% 13.1% -4.7% $817,080,830
MQR Marquee Resource Ltd 0.1 -25.9% 0.0% -4.8% $22,722,273
EUR European Lithium Ltd 0.095 -20.8% 14.5% -5.0% $115,188,440
EMH European Metals Hldg 1.135 -18.9% -0.4% -5.4% $168,452,358
AAJ Aruma Resources Ltd 0.081 -8.0% 0.0% -5.8% $13,498,689
VUL Vulcan Energy 8.55 -6.8% -0.9% -5.8% $1,195,337,417
LEL Lithenergy 0.86 -13.6% -1.1% -6.0% $41,175,000
INF Infinity Lithium 0.145 -9.4% 7.4% -6.5% $64,298,563
QPM Queensland Pacific 0.14 -22.2% 7.7% -6.7% $231,466,970
GL1 Globallith 1.52 2.0% 17.8% -7.0% $222,557,138
EMS Eastern Metals 0.195 -15.2% -4.9% -7.1% $7,476,000
BMM Balkanminingandmin 0.25 -36.7% -13.8% -7.4% $8,842,500
MLS Metals Australia 0.081 102.5% 97.6% -8.0% $23,049,672
FRS Forrestaniaresources 0.355 -5.3% 12.7% -9.0% $10,958,534

Just 14 stocks were in the green today, with 29 flatlining and 50 in the red.

 

Who’s got news out today?

News from ASX lithium plays was a little sparse today due to the public holiday in Western Australia, but even so, several companies had updates out.

Xantippe Resources (ASX:XTC)

The company is extending its footprint in the Catamarca region in Argentina with its decision to exercise its option to acquire Carolina Lithium.

This will give Xantippe rights to all the shares in Arlupo SA, the holder of the rights to four tenements comprising the Carachi Pampa lithium project.

Carachi Pampa covers 12,400 hectares of ground hosting a paleo salar lithium brine that is suitable for direct lithium exchange processing.

Highlighting its prospectivity, Lake Resources’ (ASX:LKE) neighbouring Kachi project has a JORC resource of 4.4 million tonnes of lithium carbonate equivalent after studying an area of 17,000 hectares with 14 wells.

Flynn Gold (ASX:FG1)

Flynn has been granted seven exploration licences in Western Australia’s Marda-Diemals greenstone belt that are prospective for gold and lithium mineralisation.

While Marda-Diemals contains known gold and iron deposits, it is underexplored for lithium compared to other belts.

The company will kick start operations with reconnaissance mapping, sampling and geophysics programs.

It is also applying for another seven tenements associated with both the Forrestania and Lake Johnston greenstone belts southeast of Southern Cross.

These belts are the subject of intense lithium exploration due to the discovery of Mt Holland and the known lithium occurrences at Mt. Day, Medcalf and Lake Percy.

Arcadia Minerals (ASX:AM7)

Mineralogical test work on a composite sample produced during drilling at Arcadia’s projects in Namibia has identified the Bitterwasser clay mineral as Montmorillonite, similarly to that found in Nevada lithium clays.

This is hugely positive for the company as clays with similar mineralogical composition have shown to be amendable to economic extraction.

Further testing is now underway on the lithium clays to test whether a lithium-rich concentrate can be produced by separating coarser gangue material from the finer lithium-rich clays.

Success is likely to increase the lithium grade of the material to be leached.

The post Eye on Lithium: China’s looking to lock in supplies appeared first on Stockhead.





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