Connect with us

Uncategorized

Goldman’s Bearish Battery Rumours Failed to Stop Lithium Prices Climbing to Record Highs in November

Corazon Mining discovers spodumene bearing pegmatite at the Miriam project in WA St George has entered into an MoU with … Read More
The post Eye on Lithium:…

Share this article:

Published

on

This article was originally published by Stockhead
  • Corazon Mining discovers spodumene bearing pegmatite at the Miriam project in WA
  • St George has entered into an MoU with global battery giant SVOLT 
  • Latin Resources defines maiden resource at the Colina lithium deposit

All your lithium news, Thursday December 8. 

 

Lithium prices in China continued to climb in the first half of November before stabilising in the latter half, as rumours swirled that downstream battery supply chain players would limit production for the rest of 2022.

This resulted in an overall (and still very respectable) 4.9% month-on-month increase in Benchmark Mineral Intelligence’s Lithium Price Index.

Lithium carbonate prices averaged US$68,114/t ($101,517/t) in November, up 4.3% from the previous month, while lithium hydroxide retained a small premium with an average weighted price of US$71,565/t – a 5.8% increase.

Spodumene recorded the biggest increase in value, soaring 15.1% to US$5,903/t.

Benchmark added that some spodumene contract pricing mechanisms tied to the lithium chemicals spot market could have been successfully renegotiated, allowing for a shorter lag time for pricing movements in the chemicals market to be reflected in spodumene pricing.

This could have been behind the notable uptick on the lower end of pricing as these contracts moved closer in line with recent developments in the Chinese lithium chemical spot market.

New supply was brought online by NYSE listed Livent and Allkem (ASX:AKE), who both added new lithium hydroxide capacity at their respective projects in the US and Japan to meet growing demand from customers.

Downstream customers have also moved to secure supply with South Korea’s SK On signing an offtake agreement with Chile’s SQM, for the supply of 57,000 tonnes of lithium hydroxide over a five-year period from 2023.

On the spodumene front, feedstock supply has also received a boost after Pilbara Minerals (ASX:PLS) secured a $250m debt facility to support expansion of its Pilgangoora project in WA.

 

Here’s how ASX lithium stocks are tracking:

 
CODE COMPANY PRICE % TODAY MARKET CAP
LLI Loyal Lithium Ltd 0.56 17% $22,435,200
MLS Metals Australia 0.05 14% $26,709,592
WR1 Winsome Resources 1.54 12% $190,693,069
AM7 Arcadia Minerals 0.26 11% $10,974,005
TON Triton Min Ltd 0.037 9% $47,014,662
THR Thor Mining PLC 0.0065 8% $8,653,277
STM Sunstone Metals Ltd 0.041 8% $99,576,964
MNS Magnis Energy Tech 0.385 7% $349,319,334
TSC Twenty Seven Co. Ltd 0.08 7% $7,982,483
AOA Ausmon Resorces 0.008 7% $6,429,670
ADV Ardiden Ltd 0.0085 6% $21,346,683
WML Woomera Mining Ltd 0.02 5% $17,852,102
BYH Bryah Resources Ltd 0.027 4% $7,312,590
TEM Tempest Minerals 0.027 4% $13,123,921
KTA Krakatoa Resources 0.055 4% $18,269,626
LNR Lanthanein Resources 0.031 3% $28,884,767
GW1 Greenwing Resources 0.33 3% $40,385,748
1MC Morella Corporation 0.0175 3% $98,626,448
MRR Minrex Resources Ltd 0.04 3% $42,309,833
GSM Golden State Mining 0.049 2% $5,616,682
AOU Auroch Minerals Ltd 0.055 2% $20,040,037
MMC Mitremining 0.285 2% $7,583,828
CAI Calidus Resources 0.355 1% $153,276,097
EUR European Lithium Ltd 0.079 1% $113,040,656
TUL Tulla Resources 0.4 1% $79,234,130
PLL Piedmont Lithium Inc 0.835 1% $435,245,910
CHR Charger Metals 0.595 1% $25,727,561
LEL Lithenergy 0.9 1% $53,834,250
WES Wesfarmers Limited 47.8 0% $54,016,149,129
AML Aeon Metals Ltd. 0.028 0% $30,699,217
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
INR Ioneer Ltd 0.54 0% $1,133,102,664
LIT Lithium Australia 0.048 0% $58,617,200
LPD Lepidico Ltd 0.016 0% $122,204,340
QPM Queensland Pacific 0.115 0% $200,830,011
PSC Prospect Res Ltd 0.145 0% $67,027,622
RLC Reedy Lagoon Corp. 0.011 0% $6,131,696
ARN Aldoro Resources 0.27 0% $30,486,326
AS2 Askarimetalslimited 0.395 0% $19,488,953
FG1 Flynngold 0.097 0% $6,213,922
FRS Forrestaniaresources 0.14 0% $8,513,582
CTN Catalina Resources 0.009 0% $11,146,382
KZR Kalamazoo Resources 0.21 0% $31,252,069
QXR Qx Resources Limited 0.053 0% $46,738,703
SCN Scorpion Minerals 0.076 0% $25,361,671
AZI Altamin Limited 0.08 0% $31,337,340
ENT Enterprise Metals 0.009 0% $6,345,726
AVW Avira Resources Ltd 0.003 0% $6,401,370
A8G Australasian Metals 0.225 0% $9,263,361
MQR Marquee Resource Ltd 0.057 0% $18,104,202
SRZ Stellar Resources 0.012 0% $12,055,571
LSR Lodestar Minerals 0.0055 0% $9,561,405
VKA Viking Mines Ltd 0.011 0% $11,277,843
IPT Impact Minerals 0.008 0% $19,850,964
VMC Venus Metals Cor Ltd 0.14 0% $24,931,016
ZNC Zenith Minerals Ltd 0.255 0% $89,585,217
EVR Ev Resources Ltd 0.016 0% $14,863,745
CZL Cons Zinc Ltd 0.021 0% $9,721,350
MM1 Midasmineralsltd 0.185 0% $10,569,376
M2R Miramar 0.094 0% $6,644,084
WMC Wiluna Mining Corp 0.205 0% $74,238,031
AUN Aurumin 0.08 0% $10,804,571
TYX Tyranna Res Ltd 0.025 0% $60,135,633
DAF Discovery Alaska Ltd 0.028 0% $6,278,572
FTL Firetail Resources 0.16 0% $10,400,000
DAL Dalaroometalsltd 0.13 0% $3,883,750
CY5 Cygnus Gold Limited 0.49 0% $81,189,273
CMD Cassius Mining Ltd 0.027 0% $11,029,308
IR1 Irismetals 1.7575 0% $110,718,450
GL1 Globallith 2.24 0% $478,571,076
VUL Vulcan Energy 6.98 -1% $1,009,080,519
RDT Red Dirt Metals Ltd 0.49 -1% $164,700,932
LPI Lithium Pwr Int Ltd 0.485 -1% $191,688,552
NMT Neometals Ltd 0.97 -1% $541,686,352
RIO Rio Tinto Limited 114.31 -1% $42,875,472,717
EMS Eastern Metals 0.089 -1% $3,515,797
OCN Oceanalithiumlimited 0.43 -1% $15,366,375
SGQ St George Min Ltd 0.074 -1% $60,857,574
AAJ Aruma Resources Ltd 0.071 -1% $11,301,228
DTM Dart Mining NL 0.065 -2% $10,247,171
BMM Balkanminingandmin 0.275 -2% $12,043,012
LLL Leolithiumlimited 0.515 -2% $517,994,879
CRR Critical Resources 0.049 -2% $78,891,914
NWM Norwest Minerals 0.049 -2% $11,105,369
GT1 Greentechnology 0.93 -2% $181,201,473
DRE Dreadnought Resources Ltd 0.088 -2% $276,634,040
BNR Bulletin Res Ltd 0.1075 -2% $32,185,021
MIN Mineral Resources. 88 -2% $17,091,613,818
MXR Maximus Resources 0.042 -2% $13,712,948
AGY Argosy Minerals Ltd 0.605 -2% $870,732,649
PGD Peregrine Gold 0.4 -2% $15,888,274
TKM Trek Metals Ltd 0.078 -3% $29,115,607
PAM Pan Asia Metals 0.385 -3% $58,007,958
LRV Larvottoresources 0.19 -3% $10,414,073
SRI Sipa Resources Ltd 0.038 -3% $8,852,451
AKE Allkem Limited 13.435 -3% $8,799,681,587
IMI Infinitymining 0.36 -3% $23,833,853
AZL Arizona Lithium Ltd 0.07 -3% $173,514,640
LKE Lake Resources 0.9475 -3% $1,356,516,241
NVA Nova Minerals Ltd 0.68 -3% $146,762,891
EFE Eastern Resources 0.033 -3% $38,668,967
RAG Ragnar Metals Ltd 0.016 -3% $6,256,551
AX8 Accelerate Resources 0.03 -3% $9,641,860
SYA Sayona Mining Ltd 0.2225 -3% $1,997,327,253
JRL Jindalee Resources 2.07 -3% $122,790,987
KGD Kula Gold Limited 0.028 -3% $10,475,146
WC8 Wildcat Resources 0.028 -3% $19,198,659
ALY Alchemy Resource Ltd 0.027 -4% $32,986,135
TMB Tambourahmetals 0.13 -4% $5,561,001
KAI Kairos Minerals Ltd 0.026 -4% $53,030,524
LIS Lisenergylimited 0.375 -4% $64,706,533
G88 Golden Mile Res Ltd 0.024 -4% $5,114,744
IGO IGO Limited 14.9 -4% $11,760,369,136
A11 Atlantic Lithium 0.7 -4% $442,191,412
PLS Pilbara Min Ltd 4.505 -4% $14,119,923,718
INF Infinity Lithium 0.1575 -5% $76,327,695
ASN Anson Resources Ltd 0.205 -5% $253,324,808
ESS Essential Metals Ltd 0.395 -5% $110,832,678
GLN Galan Lithium Ltd 1.275 -5% $408,123,641
MTM Mtmongerresources 0.09 -5% $4,584,205
WCN White Cliff Min Ltd 0.016 -6% $12,709,257
RGL Riversgold 0.03 -6% $30,254,967
RAS Ragusa Minerals Ltd 0.145 -6% $20,974,313
LTR Liontown Resources 1.81 -6% $4,250,102,402
EMH European Metals Hldg 0.69 -7% $88,454,250
ZEO Zeotech Limited 0.047 -8% $83,675,989
RMX Red Mount Min Ltd 0.0055 -8% $9,854,183
XTC Xantippe Res Ltd 0.0055 -8% $48,871,379
LRD Lordresourceslimited 0.22 -8% $7,988,309
CXO Core Lithium 1.1975 -9% $2,408,198,439
LRS Latin Resources Ltd 0.1325 -9% $295,446,385
PNN Power Minerals Ltd 0.525 -9% $41,851,805
EPM Eclipse Metals 0.015 -12% $34,412,366
VSR Voltaic Strategic 0.029 -12% $10,112,211
TKL Traka Resources 0.005 -17% $4,132,647

Only 28 lithium companies finished in the green today.

 

Who’s got news out?

CORAZON MINING (ASX:CZN)

CZN has discovered spodumene (lithium) bearing pegmatite at the Miriam project in WA’s Goldfields region.

A program of initial site reconnaissance spotted widespread indications of pegmatite throughout the project – along with an outcrop hosting “abundant large spodumene crystals”.

The company plans to begin targeted and systematic on-ground exploration once its tenure has been approved by WA’s Mines Department.

 

ST GEORGE MINING (ASX:SGQ)

Emerging lithium explorer SGQ  has entered into a memorandum of understanding (MoU) to establish a strategic relationship to collaborate with SVOLT Energy Technology Co.

The SVOLT MoU will last for an initial term of two years, with a range of potential outcomes.

One of them includes a $5m investment in SGQ by SVOLT subject to pricing and completion of due diligence, offtake arrangements to secure up to 25% of future spodumene concentrate production from SGQ’s Mt Alexander lithium project, funding support and a potential JV to acquire and develop new lithium projects.

 

LATIN RESOURCES (ASX:LRS)

LRS has defined a maiden resource at the Colina lithium deposit, within the Salinas Project in Brail in just 10 months from only 10,528m of drilling.

The Indicated and Inferred resource estimate sits at 13.3Mt at 1.2% Li20 (2.08Mt indicated and 11.17Mt inferred) – and there’s potential for significant growth when considering the exploration target of 13.5Mt to 22Mt at a grade ranging from 1.2% Li2O to 1.5% Li2O.

With eight drill rigs scheduled to be onsite from mid-January, Latin says it will be aggressively drilling throughout the new year.

 

WIDGIE NICKEL (ASX:WIN)

Initial assays received from 10 out of 18 reverse circulation drill-holes have confirmed the presence of significant shallow, high grade lithium bearing pegmatite at Faraday prospect within the wider Mt Edwards Project.

Highlights from drilling include 10m at 0.90% Li20 from 22m, including 3m at 1.49% Li20 from 29m, and 14m at 0.88% Li20 from 10m including 8m at 1.05% Li20 from 11m and 3m at 0.99% Li20 from 20m.

WIN plans to accelerate exploration with RC drilling, which it says will begin in January to test potential down dip and strike extensions (over 400m of untested outcrop).

 

LITHIUM POWER INTERNATIONAL (ASX:LPI)

LPI has completed the acquisition of water rights covering its Maricunga lithium project in Chile.

With this acquisition of the 62 litres/second CAN 6 rights, the company can replace a long-term lease that it previously held for part of its water requirements.
The Stage One project will produce an average of 15,200 tonnes per year of  battery grade lithium carbonate and will have a low freshwater consumption of just 8 l/s.

 

POWER MINERALS (ASX:PNN)

Power Minerals has launched a preliminary economic assessment (PEA) at the Rincon salar at the Salta Lithium-Brine Project in the lithium triangle of north-west Argentina.

The PEA, which will be completed to Scoping Study level, is being conducted by global engineering and mining consultants Golder Associates and will assess the production and life-of-mine profile, along with engineering and process costs, plus capital costs and operating costs for a potential high-quality lithium carbonate (LCE) producing operation at Rincon.

PNN says it will contemplate conceptual production of a minimum of 2,000tpa LCE, via DLE, at each of the Rincon, Incahuasi and Pocitos salares; for a total of 6,000tpa LCE.

CZN, SGQ, LRS, WIN, LPI and PNN share price charts:

 

The post Eye on Lithium: Bearish battery rumours didn’t stop lithium prices climbing to record highs in November appeared first on Stockhead.

nyse

Share this article:

Uncategorized

3 Best Passive Investments to Buy Now

The three best passive investments include an emerging market technology fund, a health care exchange-traded fund (ETF) and a diverse portfolio of commodities….

Share this article:

Continue Reading
Uncategorized

Is Gold The Last Freedom Train?

Is Gold The Last Freedom Train?

Via SchiffGold.com,

Most people believe the Federal Reserve stabilizes the economy and our money. In reality,…

Share this article:

Continue Reading
Uncategorized

Billionaire Robert Friedland Calls for End to “African Discount” in Epic Copper Rant

Robert Friedland has taken a stunning swipe at analysts discounting DRC copper ahead of an expansion of Ivanhoe Mine’s…

Share this article:

Continue Reading

Trending