Olemedia/E+ via Getty Images
Olemedia/E+ via Getty Images
Welcome to the May 2022 edition of the "junior" lithium miner news. We have categorized those lithium miners that won't likely be in production before 2023 as the juniors. Investors are reminded that many of the lithium juniors will most likely be needed in the mid and late 2020's to supply the booming electric vehicle [EV] and energy storage markets. This means investing in these companies requires a higher risk tolerance and a longer time frame.
May saw very good progress for many of the lithium juniors as well as two major lithium players (MIN and LAC) buying into lithium juniors.
Asian Metal reported during the past 30 days, 99.5% China lithium carbonate spot prices were down 0.93% and lithium hydroxide prices were down 0.94%. Lithium Iron Phosphate (Li 3.9% min) prices were down 2.24%. Spodumene (6% min) prices were up 13.78% over the past 30 days.
Benchmark Mineral Intelligence ("BMI") as of mid-May reported China lithium carbonate prices of RMB 462,500/tonne (US$68,450) (battery grade), and for lithium hydroxide RMB 473,000/tonne ($70,000), and stated (no link available): "Despite the temporary softening in prices, expectations are that prices will see further upside overall in H2 2022, once COVID restrictions are lifted, given that market supply remains exceptionally tight and any hindered demand from Q2 will likely be pushed into the latter half of the year."
Metal.com reported lithium spodumene concentrate (6%, CIF China) price of CNY 31,652 (~USD 4,757/mt), as of May 24, 2022. See also Pilbara Minerals news where their BMX auctions are achieving much higher prices. The May 24 auction achieved US$5,650/dmt (SC 5.5%) or ~US$6,586 /dmt (SC6.0%, CIF China basis).
For a summary of the latest lithium market news and the "major" lithium company's news, investors can read: "Lithium Miners News For The Month Of May 2021" article. Highlights include:
BMI: Lithium industry needs to invest $42 billion by end of the decade to meet demand.
CNBC: EV battery costs could spike 22% by 2026 as raw material shortages drag on.
On April 29, Sayona Mining announced: "March 2022 quarterly activities report." Highlights include:
On May 23, Sayona Mining announced: "Positive Pre‐feasibility Study enhances NAL value." Highlights include:
Investors can read the Company presentation here, and a Trend Investing CEO interview here.
Note: North American Lithium [NAL] is owned 75% Sayona Mining: 25% Piedmont Lithium.
Piedmont Lithium 100% own the Carolina Lithium spodumene project in North Carolina, USA; as well as 25% of North American Lithium [NAL].
On April 28, Piedmont Lithium reported:
Piedmont Lithium partner Sayona announces a new lithium pegmatite discovery at Moblan in Quebec... Assay results from two holes at the newly defined Moblan South Discovery have identified lithium mineralization at shallow depth, approximately 200m south of the main Moblan deposit. Results include 5m @ 1.85% Li2O from 3.5m and 35m @ 1.62% Li2O from 27.6m in hole DDH135 as well as 6.6m @ 1.69% Li2O from 2.1m and 27.2m @ 1.53% Li2O from 22.0m in hole DDH136. Additional drill hole results are pending. Piedmont holds an equity interest of approximately 16.5% in Sayona Mining.
You can view the company's latest presentation here.
Vulcan Energy Resources state that they have "the largest lithium resource in Europe" with a total of 15.85mt LCE, at an average lithium grade of 181 mg/L. The Company is in the development stage developing a geothermal lithium brine operation (geothermal energy plus lithium extraction plants) in the Upper Rhine Valley of Germany.
On April 28, Vulcan Energy Resources announced: "Quarterly activities report March 2022." Highlights include:
On May 18, POSCO announced: "POSCO Holdings to team up with Prologium to lead the all-solid-state battery market." Highlights include:
The Mt Holland Lithium Project is a 50/50 JV between Wesfarmers [ASX:WES] (OTCPK:WFAFF) and SQM (SQM), located in Western Australia. There is also a proposal for a refinery located in WA. Wesfarmers acquired 100% of the shares in Kidman for A$1.90 per share, for US$545 million in total.
No lithium related news for the month.
You can view the latest company presentation here and news on the Mt Holland construction here.
Liontown Resources 100% own the Kathleen Valley Lithium spodumene project in Western Australia. DFS completed in November 2021.
On April 28, Liontown Resources announced: "March 2022 quarterly report." Highlights include:
Kathleen Valley Lithium Project (LTR: 100%)
On May 2, Liontown Resources announced: "Liontown and LG Energy Solution execute binding Offtake Agreement." Highlights include:
You can view the company's latest presentation here.
AVZ Minerals owns 51% of its Manono Lithium & Tin Project in the DRC, after selling 24% of it to Suzhou CATH Energy Technologies for US240m. DRC-owned firm Cominiere has a 25% share.
On May 2, AVZ Minerals announced:
Extension of end date to the transaction implementation agreement... The Company confirms that the parties to the TIA have agreed to amend the end date to 31 May 2022 to provide for completion of closure formalities.
On May 4, AVZ Minerals announced: "Ministerial Decree to award the Mining Licence Manono Lithium and Tin Project." Highlights include:
On May 11, AVZ Minerals announced:
AVZ Minerals Limited (ASX: AVZ) - Suspension from quotation description. The securities of AVZ Minerals Limited ('AVZ') will be suspended from quotation immediately under Listing Rule 17.2, at the request of AVZ, pending the release of an announcement regarding its mining and exploration rights for the Manono Lithium and Tin Project.
On May 23 Mining.com reported:
Chinese, Australian investors battle for largest lithium deposit... AVZ's interest in the Manono lithium project in the Democratic Republic of Congo could fall to 36% from 75%, London-based short-seller Boatman said in a research report on Friday. That may follow its planned sale of a 24% stake this month and a flurry of lawsuits from companies, including Zijin Mining Group Co., claiming ownership, documents published by Boatman show." At best, AVZ faces months or years of legal fights" to block a claim by a Zijin subsidiary, Boatman said in the report. "At worst, AVZ will lose control of Manono."
On May 2, Standard Lithium announced:
Standard Lithium advances project pipeline as it commences Preliminary Feasibility Study at its South West Arkansas Lithium Project... Now we can manage and drive multiple projects in parallel. The commencement of this comprehensive PFS is a testament to the Company's ambition to not only bring the first new commercial lithium project into production in the United States in six decades, but also to have a robust pipeline of subsequent projects that will serve the future demand for lithium chemicals in North America... We expect to complete the bulk of the work through the balance of 2022, with completion and reporting of the results of the PFS in Q1 2023."
On May 3, Standard Lithium announced: "Standard Lithium sponsors the first electric vehicle charging stations in El Dorado, AR..."
On May 12, Standard Lithium announced: "Standard Lithium completes investment into Aqualung - An innovative carbon capture technology company."
On April 27, Global Lithium Resources announced: "Quarterly report for the period ending 31 March 2022." Highlights include:
On May 2, Global Lithium Resources announced: "Highest grade lithium assays delivered to date at Marble Bar Lithium Project. Positive drilling and assay results include 3m @ 2.5% Li2O." Highlights include:
On May 19, Global Lithium Resources announced: "Contractor mobilises to Manna Lithium Project for maiden drilling program. Initial 20,000m RC drilling campaign set to commence."
No news for the month.
On May 13, Critical Elements Lithium Corp. announced:
Approval of the Rehabilitation and Restoration Plan concerning the Rose Lithium-Tantalum Mining Project. "We are very pleased with the decision regarding the rehabilitation and restoration plan for the Rose Lithium-Tantalum Project, which is a necessary step toward securing the mining lease," stated Jean-Sébastien Lavallée, CEO of Critical Elements.
On May 17, Critical Elements Lithium Corp. announced:
Critical Elements successfully produces battery grade lithium hydroxide in pilot plant testing. The pilot plant conversion process from spodumene concentrate to lithium hydroxide was further optimized and confirmed the previous strong results with extraction and conversion rates of 92 %. In addition, the pilot plant produced battery grade lithium hydroxide...
Investors can view the company's latest presentation here.
You can read the latest Trend Investing Critical Elements Lithium article here.
On April 29, Lithium Power International announced: "Activity report for the quarter ended March 2022." Highlights include:
Lake Resources own the Kachi Lithium Brine Project in Argentina. Lake has been working with Lilac Solutions Technology (private, and backed by Bill Gates) for direct lithium extraction and rapid lithium processing.
No significant news for the month.
ioneer Ltd [ASX:INR] [GR:4G1] (OTCPK:GSCCF)
ioneer Ltd. announced in September 2021 the sale of 50% of its flagship lithium boron project to Sibanye Stillwater for US$490m.
No news for the month.
On May 12, European Metals Holdings announced: "European Metals commences trading on OTCQX® Best Market." Highlights include:
Galan is developing their flagship Hombre Muerto West ("HMW") Lithium Project located on the west side edge of the high grade, low impurity Hombre Muerto salar in Argentina. In total Galan Lithium has 3.0m tonnes contained LCE @858mg/L.
On April 29, Galan Lithium announced: "Quarterly activities report 31 March 2022." Highlights include:
Cypress Development owns tenements in the Clayton Valley, Nevada, USA.
On May 5, Cypress Development Corp. announced:
Cypress Development completes Enertopia asset acquisition... "The property is a continuation of the lithium bearing units in Cypress' project, with Enertopia's drilling having shown similar values of lithium. With this consolidation, the data will be incorporated into our resource model and has the potential to enhance the project through our Feasibility Study underway. We expect this consolidation of Clayton Valley lithium claystone projects to be of significant value for both Enertopia and Cypress shareholders." The purchase consideration for the EnertopiaProject comprised US$1.1 million in cash and the issuance of 3,000,000 common shares in the capital of Cypress ("Consideration Shares")...
Frontier Lithium own the PAK Lithium (spodumene) Project comprising 26,774 hectares and located 175 kilometers north of Red Lake in northwestern Ontario. The PAK deposit is a lithium-cesium-tantalum [LCT] type pegmatite containing high-purity, technical-grade spodumene (below 0.1% iron oxide).
On May 2, Frontier Lithium announced:
Frontier Lithium announces remaining 2022 exploration plans including a minimum of 15,000 meters of drilling and releases the results from channel sampling at the bolt pegmatite. Frontier Lithium is pleased to announce their 2022 exploration program and targets for the PAK Lithium Project (Project) in northwestern Ontario... The company plans to continue evaluating the Spark pegmatite recommencing mid-May by now utilizing two diamond drills over the 2022 exploration period. With a current measured and indicated resource of 21 Mt averaging 1.56 per cent Li2O and an additional inferred resource of 20 Mt averaging 1.48 per cent Li2O, it is anticipated that the drilling will result in increases in all resource categories of the deposit.
On April 27, Firefinch Limited announced: "Quarterly Activities Report for period ending 31 st March 2022." Highlights include:
On May 18, Firefinch Limited announced: "Morila convention extension granted."
No news for the month.
Wealth Minerals has a portfolio of lithium assets in Chile, such as 46,200 Has at Atacama, 8,700 Has at Laguna Verde, 6,000 Has at Trinity, 10,500 Has at Five Salars. Also the right to acquire a 100% interest in the Ignace REE Lithium Property in Ontario, Canada.
On May 3, Wealth Minerals announced:
Wealth Minerals acquires additional ground in Ollagüe Salar. Wealth Minerals Ltd... reports the Company has signed an agreement with Lithium Chile Inc. (TSXV: LITH) ("Lithium Chile") to acquire 1,600 hectares ("New Ollagüe Licenses") adjacent and near-adjacent to its existing license position in the Ollagüe basin (the "Transaction")...
Investors can view the company's latest presentation here.
E3 Metals is a lithium development company focused on commercializing its extraction technology and advancing the world's 7th largest lithium resource with operations in Alberta. E3 has an inferred mineral resource of 6.7 million LCE.
On May 12, E3 Metals announced: "E3 Metals Corp announces filing of first quarter 2022 financial statements and MD&A."
You can read the company's latest presentation here.
Joint Venture (Nevada Lithium Corp. earn in option to 50%) in the Bonnie Claire Project in Nevada, USA; with an Inferred Resource of 18.68 million tonnes LCE.
On April 28, Iconic Minerals announced:
Iconic Minerals upgrades to OTCQB Venture Market. Iconic Mineral's CEO, Richard Kern stated, "We are pleased that upgrading to the OTCQB Venture Market will allow Iconic the ability to continue to improve greater awareness for our current, and potential shareholders, while we advance towards completing our pre-feasibility study on the Bonnie Claire lithium property."
On May 4, Iconic Minerals announced:
Iconic announces plan of operation for Bonnie Claire Lithium Project declared complete by BLM... Iconic is also pleased to announce that it has initiated its 2022 exploration program at Bonnie Claire. The Company is currently improving roads, setting up water storage and moving supplies and machinery to the project. The first drill hole of the year will commence in approximately one week. This year's drilling will further define the resource, provide additional metallurgical samples, and initiate borehole mining testing required for the Prefeasibility Study.
On May 19, Arena Minerals announced:
Arena Minerals reports pond construction is underway and provides project update. Arena Minerals Inc. is pleased to announce evaporation pond construction is underway at its Sal de la Puna Project ("SDLP Project") located in the Pastos Grandes basin within Salta province, Argentina. The evaporation pilot pond shall cover a total of 10,000 m2; designed to produce >35% lithium chloride ("LiCl") (6% lithium) from SDLP raw brine...
On May 24, Arena Minerals announced:
Arena Minerals enters collaboration agreement with Lithium Americas. The intention of the Collaboration Agreement is to share technical information and explore opportunities for collaborating on potential development alternatives with the overall objective of optimizing the production profile of the Pastos Grandes basin...
On May 5, Reuters reported: "Rio Tinto keen for talks to revive Serbian lithium project." Highlights include:
On April 26, Lithium South Development Corp. announced:
Lithium South drill program to begin at Alba Sabrina claim block. The Company has retained Servicios Geologicos of Salta, Argentina, to conduct a 2,000-meter core hole drill program on the Alba Sabrina claim block. At 2,089 hectares, the Alba Sabrina claim block is the largest of the nine block, 5,687-hectare project. A recent TEM Study (See October 4, 2021, press release) has identified a surficial halite aquifer of approximately 75 meters of depth, with a clastic brine aquifer immediately below. The TEM Study was limited to approximately 350 meters of depth, with the basement rock not confirmed. The drill program will attempt to drill to basement, limited to approximately 700 meters by the depth potential of the drill rig. The drill rig is expected to be located on site within the next two weeks.
On May 11, Lithium South Development Corp. announced: "Lithium South retains groundwater insight for resource calculation..."
No news for the month.
No news for the month.
On April 27, Lithium Energy Limited announced: "EIA approvals now granted for all Solaroz Lithium Project concessions - Exploration underway."
On May 9, Lithium Energy Limited announced:
Geophysics expanded across all concessions to refine drill targets at Solaroz Lithium Project... In the process of finalising arrangements with drilling contractors for a ~5,000 metre drilling programme to commence after the TEM surveys are completed.
On May 2, Argentina Lithium announced:
Argentina Lithium geophysics delineates potential extent of conductive brine aquifers at Rincon West.
Avalon has three projects in Ontario, Canada, and five in total throughout Canada. Avalon's most advanced project is the Separation Rapids Lithium Project in Ontario with a M& I Resource estimate of the 8.2MT at 1.37% Li2O and 0.36% Rb2O plus Inferred 1.2MT at 1.33% Li2O and 0.361% Rb2O. Avalon is working on a plan for a JV to build a lithium-ion battery materials refinery in Thunder Bay, Ontario.
On May 5, Avalon Advanced Materials announced:
Avalon enters into $3,000,000 convertible Security Funding Agreement to accelerate separation rapids lithium work...
Essential Metals has 9 projects (lithium, gold, gold JV, and nickel JV) all in Western Australia. Their flagship Pioneer Dome Lithium (spodumene) Project has a JORC Compliant Total Resource of 11.2Mt at 1.21% Li2O.
On April 29, Essential Metals announced: "March 2022 quarterly report." Highlights include:
Green Technology Metals [ASX:GT1] ("GT1") has several very promising lithium projects near Thunder Bay in Ontario, Canada. The current JORC Total Mineral Resource is 4.8Mt @ 1.25% with a projects (spodumene) wide target resource of 50-60 MT @ 0.8-1.5% Li2O.
On April 28, Green Technology Metals announced: "Strategic investment from Lithium Americas Corp. and A$55m equity raising." Highlights include:
On April 29, Green Technology Metals announced: "Quarterly activities report for the quarter ended 31 march 2022." Highlights include:
On May 19, Green Technology Metals announced: "Further significant step-out intercepts returned at Seymour." Highlights include:
On May 11, Rock Tech Lithium announced: "Rock Tech Lithium joins the European Battery Alliance."
On April 29, Neometals announced: "Quarterly activities report for the quarter ended 31 March 2022." Highlights include:
...Lithium-ion Battery ("LIB") Recycling Project (50% NMT via Primobius GmbH, an incorporated JV with SMS group GmbH)...
Lithium Chemicals Project (earning into 50:50 JV with Bondalti Chemicals SA via Reed Advanced Materials Pty Ltd ("RAM") (NMT 70:30 Mineral Resources Ltd)..."
On May 13, Neometals announced: "Primobius executes cooperation agreement with Mercedes-Benz."
On May 25 Nano One announced:
Nano One to acquire Johnson Matthey Battery Materials Canada... JMBM Canada includes a team with over 360 years of collective experience, including R&D, pilot to commercial scale cathode production and product qualification and quality assurance systems expertise for tier 1 automotive lithium-ion cell manufacturers. JMBM Canada also includes a 2,400 tonne per annum capacity LFP production facility located in Candiac, Québec...
Other juniors include: 5E Advanced Materials Inc [ASX:5EA] (FEAM), American Lithium Minerals Inc. (OTCPK:AMLM), Anson Resources [ASX:ASN] [GR:9MY], Ardiden [ASX:ADV], Arizona Lithium [ASX:AZL] (AZLAF), Atlantic Lithium [LON:ALL] (OTCPK:ALLIF), Bradda Head Lithium Limited [LON:BHL] (BHLIF) (OTCPK:CDCZF), Bryah Resources Ltd [ASX:BYH], Carnaby Resources Ltd [ASX:CNB], Critical Resources [ASX:CRR], Electric Royalties [TSXV:ELEC], Eramet [FR: ERA] (OTCPK:ERMAF) (OTCPK:ERMAY), European Lithium Ltd [ASX:EUR] (OTCPK:EULIF), Foremost Lithium Resources & Technology [CSE:FAT] (OTCPK:FRRSF), Greenwing Resources Limited [ASX:GW1] (OTCPK:BSSMF), HeliosX Lithium & Technologies Corp. [TSXV:HX] (formerly Dajin Lithium Corp. [TSXV:DJI]), Hannans Ltd [ASX:HNR], Infinity Lithium [ASX:INF], International Battery Metals [CSE: IBAT] (OTCPK:IBATF), Ion Energy [TSXV:ION], Jadar Resources Limited [ASX:JDR], Kodal Minerals (LSE-AIM: KOD), Larvotto Resources [ASX:LRV], Latin Resources Ltd [ASX:LRS] (OTC:LAXXF), Lepidico [ASX:LPD] (OTCPK:LPDNF), Liberty One Lithium Corp. [TSXV:LBY] (OTCPK:LRTTF), Lithium Australia [ASX:LIT] (OTC:LMMFF), Lithium Chile Inc. [TSXV:LITH][GR:KC3] (OTCPK:LTMCF), Lithium Corp. (OTCQB:LTUM), Lithium Energi Exploration Inc. [TSXV:LEXI](OTCPK:LXENF), Lithium Plus Minerals [ASX:LPM], Metals Australia [ASX:MLS], MetalsTech [ASX:MTC], MinRex Resources [ASX:MRR], MGX Minerals [CSE:XMG] (OTC:MGXMF), New Age Metals [TSXV:NAM] (OTCQB:NMTLF), Noram Lithium Corp. [TSXV:NRM] (OTCQB:NRVTF), One World Lithium [CSE:OWLI] (OTC:OWRDF), Patriot Battery Metals [CSE:PMET] (OTCQB:PMETF), Portofino Resources Inc.[TSXV:POR] [GR:POT], Power Metals Corp. [TSXV:PWM] (OTCPK:PWRMF), Prospect Resources [ASX:PSC], Pure Energy Minerals [TSXV:PE] (OTCQB:PEMIF), Quantum Minerals Corp. [TSXV:QMC] (OTCPK:QMCQF), Snow Lake Lithium (LITM), Spearmint Resources Inc [CSE:SPMT] (OTCPK:SPMTF), Surge Battery Metals Inc. [TSXV:NILI] (OTCPK:NILIF), Ultra Lithium Inc. [TSXV:ULI] (OTCQB:ULTXF), United Lithium Corp. [CSE:ULTH] [FWB:0UL] (OTCPK:ULTHF), Vision Lithium Inc. [TSXV:VLI] (OTCQB:ABEPF), Winsome Resources Limited [ASX:WR1], Zinnwald Lithium [LN:ZNWD].
May saw lithium chemicals prices only slightly lower and spodumene prices continued to rise strongly.
Highlights for the month were:
As usual all comments are welcome.
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This article was written by
Disclosure: I/we have a beneficial long position in the shares of GLOBAL X LITHIUM ETF (LIT), AMPLIFY LITHIUM & BATTERY TECHNOLOGY ETF (BATT), ALB, JIANGXI GANFENG LITHIUM [SHE: 2460], ASX:AKE, ASX:PLS, ASX:MIN, LIVENT (LTHM), ADVANCED METALLURGICAL GROUP NV (AMS:AMG), TSX:LAC, ARGOSY MINERALS [ASX:AGY], ASX:LTR, ASX:CXO, ASX:SYA, ASX:PLL, ASX:NMT, SIGMA LITHIUM [TSXV:SGMA], VULCAN ENERGY RESOURCES [ASX:VUL], GALAN LITHIUM [ASX:GLN], SAVANNAH RESOURCES [XETRA:SAV], LITHIUM SOUTH DEVELOPMENT CORP. [TSXV:LIS], CRITICAL ELEMENTS LITHIUM [TSXV:CRE], WINSOME RESOURCES [ASX:WR1], INTERNATIONAL LITHIUM [TSXV:ILC], ARENA MINERALS [TSXV:AN], ALPHA LITHIUM [TSXV:ALLI], GLOBAL LITHIUM RESOURCES [ASX:GL1], LITHIUM ENERGY LIMITED [ASX:LEL], EUROPEAN METAL HOLDINGS [ASX:EMH], EUROPEAN LITHIUM [ASX:EUR], FRONTIER LITHIUM [TSXV:FL], METALS AUSTRALIA [ASX:MLS], GREEN TECHNOLOGY METALS [ASX: GT1], ESSENTIAL METALS [ASX:ESS], AVALON ADVANCED MATERIALS [TSX:AVL], SNOW LAKE LITHIUM (LITM), FREYR BATTERY (FREY) either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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