SQM - Lithium Junior Miners News For The Month Of April 2023
2023-04-27 06:53:12 ET
Summary
- Lithium chemical spot prices were lower and spodumene spot prices were lower the past month. Lithium carbonate spot prices in China may be bottoming as low margins hit producers.
- Lithium market news - DOE expects US battery production in 2030 will be 20x what it was in 2021. UK taskforce on critical minerals. Chile President wants to nationalize.
- Junior lithium miner company news - Liontown Resources rejects Albemarle's A$2.50 per share offer. Leo Lithium JV drills 115.7 metres at 1.74 % Li2O, from 147.6 m.
- Patriot Battery Metals drills 83.7m of 3.13% Li2O, including 19.8m of 5.28% Li2O. Arena Minerals obtains final order for plan of arrangement for LAC takeover. Lithium South drills 1176 mg/L lithium at Natalia Maria Claim Block.
Welcome to the April 2023 edition of the 'junior' lithium miner news. We have categorized those lithium miners that won't likely be in production before 2024 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.
April saw lots of good progress from the lithium juniors and two unsuccessful takeover offers for lithium juniors (Liontown Resources & Essential Metals).
Lithium price news
Asian Metal reported during the past 30 days, the 99.5% China lithium carbonate spot price was down 20.76% and the China lithium hydroxide price was down 9.42% . The Lithium Iron Phosphate (Li 3.9% min) price was down 16.80% . The Spodumene (6% min) price was down 8.01% over the past 30 days.
Benchmark Mineral Intelligence reported recently (paywalled):
Lithium chemicals pricing in China is weighed on by weak demand, compounded by discounts on internal combustion engine [ICE] vehicles.....In response to volatile and falling prices, buyers continued to put off purchasing volumes on a spot basis and drew from waning inventories.....EV demand sentiment was weighed on by some automakers in China heavily discounting ICE vehicles, by as much as 50% for some models, in order to shift excess inventory, particularly in advance of new emissions standards expected to come into effect on 1 July 2023.......
Metal.com reported lithium spodumene concentrate (6%, CIF China) average price of USD 3,740/t, as of April 24, 2023.
China Lithium carbonate spot price 5 year chart - CNY 172,500 (~USD 25,000) ( source )
Rio Tinto forecasts lithium emerging supply gap (chart from 2021) - 60 new mines the size of Jadar needed
Lithium market news
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 April 2023" article. Highlights include:
- Ford CEO on EV transition......Batteries are the constrain.....Both lithium and nickel are really the key constraining commodities.
- The US Department Of Energy (DOE) said recently it expects US battery production in 2030 will be 20 times what it was in 2021.
- U.S. inks deal with Japan for critical minerals in EV batteries.
- Production of lithium in Europe is virtually non-existent. Europe will need to rely on overseas supply amidst a tightening global supply/demand balance.
- BHP's exploration accelerator opening to prospective uranium, lithium projects.
- Lithium prices in China may be bottoming as low margins hit producers.
- Chile plans to nationalize its lithium industry.
- UK taskforce committee to create and action a critical minerals blueprint for the energy transition.
- Albemarle announces proposal to acquire Liontown Resources at A$2.50. Liontown rejected the offer.
- As Chile talks nationalizing lithium, SQM informs about its contribution to the Chilean Treasury in 2022.
Junior lithium miners company news
Wesfarmers [ASX:WES] ( WFAFY ) (took over Kidman Resources)
The Mt Holland Lithium Project is a 50/50 JV between Wesfarmers [ASX:WES] ( WFAFF ) and SQM ( SQM ), located in Western Australia. There is also a proposal for a refinery located in WA. More details here at: Progress at the Mt Holland lithium project where Wesfarmers state: "Construction of the mine, concentrator and refinery is underway with first production expected in 2024."
No lithium news for the month.
You can view the latest company presentation here .
Upcoming catalysts include:
- Late 2023 - Mt Holland spodumene production.
- H1, 2025 - Kwinana LiOH refinery planned to begin and ramp to 45 - 50ktpa LiOH .
Liontown Resources [ASX:LTR] ( LINRF )
Liontown Resources 100% own the Kathleen Valley Lithium spodumene project in Western Australia. Mostly funded to production.
On March 28 Liontown Resources announced :
Liontown Resources rejects Indicative Proposal from Albemarle......in which Albemarle would acquire all of the shares in Liontown at a price of $2.50 per share via a scheme of arrangement (“Indicative Proposal”).
On March 30 Liontown Resources announced :
Albemarle increases relevant interest in Liontown shares. Liontown Resources Limited (“Liontown” or “the Company”) advises that Albemarle Corporation (“Albemarle”) has notified the Company that it now has a relevant interest in ~4.3% of Liontown shares, compared to the ~2.2% shareholding which Liontown understood to be the extent of Albemarle's interests at the time of the announcement on 28 March 2023. Albemarle has also requested a copy of the Liontown share register, in accordance with s.173 of the Corporations Act 2001 (Cth), for the purpose of contacting Liontown shareholders about the Albemarle non-binding indicative proposal referred to in Liontown's announcement dated 28 March 2023 (the “Albemarle Indicative Proposal”).
On April 3 Liontown Resources announced :
Liontown to farm into Olympio’s Mulline and Mulwarrie Lithium Projects. Two stage farm-in by a leading WA lithium developer.
You can view the company's latest presentation here .
Upcoming catalysts include:
- 2023-24: Kathleen Valley Project construction
- Q1, 2024 : Commissioning with production set to begin mid 2024
Leo Lithium Limited [ASX:LLL]
Leo Lithium is developing the Goulamina Lithium Project (50/50 JV with Ganfeng Lithium) in Mali with a total Resource of 142.3 Mt @ 1.38% Li2O targeting a production start in mid 2024 .
On March 28 Leo Lithium Limited announced : "Annual financial report 31 December 2022."
On April 13 Leo Lithium Limited announced : "Further high-grade drilling results at Goulamina support future mineral resource upgrade." Highlights include:
- " High grade, thick intercept results received from Danaya and the Northeast ((NE)) Domains at the Goulamina Lithium Project.
- Significant down-hole pegmatite intercepts include: 115.7 metres at 1.74 % Li2O, from 147.6 m (GMRC534D). 73.5 metres at 1.64 % Li2O, from 199.17 m (GMDD016). 71 metres at 2.00 % Li2O, from 18 m (GMRC599D). 62 metres at 1.77 % Li2O, from 48 m (GMRC579D). 54 metres at 1.48 % Li2O, from 64 m (GMRC555).
- Mineralisation remains open at depth and along strike.
- New shallow pegmatite dykes identified at the NE Domain.
- Update of Mineral Resource Estimate is anticipated before the end of June.
- Ongoing Exploration Drilling at Goulamina now targeting potential resource extensions to the North ."
On April 18 Leo Lithium Limited announced : " Annual report 2022."
On April 19 Leo Lithium Limited announced : "Goulamina JV to acquire Mali mineral concessions." Highlights include:
- " Acquisition to nearly triple the Goulamina Project area in Mali.
- Concessions prospective for lithium pegmatites and presently under-explored .
- Acquisition allows optimisation of Goulamina Project infrastructure location ."
You can view the company presentation here .
Upcoming catalysts include:
Investors can read the recent Trend Investing article on Leo Lithium here .
ERAMET [FR:ERA] ( OTCPK:ERMAY ) ( OTCPK:ERMAF ) - 'Targets DLE production by early 2024'
ERAMET is in a JV 'Eramine Sudamerica' (50.1% ERAMET, 49.9% Tsingshan) which owns the Centenario-Ratones Lithium Project in Argentina. ERAMET targets to start DLE production by early 2024.
On April 19 ERAMET announced : " 2022 i ntegrated r eport."
On April 19 ERAMET announced : " 2022 Universal Registration Document including the annual financial report."
Investors can read the recent Trend Investing article on ERAMET here .
POSCO [KRX:005490] ( PKX )
POSCO owns the northern Sal de Vida (Hombre Muerto salar, Argentina) tenements bought from Galaxy Resources (now Allkem). POSCO targets to start DLE production by H1, 2024.
On April 11 Honda reported :
POSCO and Honda begin exploring comprehensive partnership toward the realization of carbon neutrality..... “Honda has been our strategic partner in the steel business, and we are pleased to expand our cooperative system into the field of battery materials. We are expecting that the POSCO Group's “full value chain” for battery materials, which includes elemental materials such as lithium and nickel, cathode and anode materials, future battery materials, and recycling, will be of great help to Honda’s strategy to expand its electric vehicle business.”
On April 17 The West Australian reported :
Posco stocks add billion in market value on EV battery bets. Frenzied retail buying of stocks tied to electric-vehicle batteries has added more than billion ($16.4b) in market value to South Korea’s top steelmaker POSCO Holdings and related group companies this month. Shares of the parent company have jumped 16 per cent to the highest level since 2011, adding .8b in market value, on investor expectations for its lithium business. It’s been the most popular stock among South Korean individual investors in April, with net purchases of .7b.
Upcoming catalysts include:
- Late 2023 - Plan to commission production of POSCO/Pilbara Minerals JV LiOH facility in Korea.
- H1, 2024 - Target to commence production at Hombre Muerto and ramp to 25ktpa LiOH.
Atlantic Lithium Limited [LSE:ALL] [ASX:A11] ( ALLIF )
Atlantic Lithium is progressing its Ewoyaa Project in Ghana towards production. Piedmont Lithium has a 50% project earn-in share.
On April 19 Atlantic Lithium Limited announced :
Exploration update. Commencement of 3,000m infill drilling programme passive seismic geophysical survey underway Ewoyaa Lithium Project, Ghana.....The 2023 exploration and resource drilling programmes will not impact delivery of the Definitive Feasibility Study, on track for delivery in Q2 2023.
Upcoming catalysts include:
- End Q2, 2023 - Definitive Feasibility Study to be completed.
- 2024 - Production targeted to begin.
Vulcan Energy Resources [ASX: VUL] ( VULNF )
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 March 27 Vulcan Energy Resources announced : "Annual Report 1 July to 31 December 2022."
On April 19 Vulcan Energy Resources announced : " Vulcan Zero Carbon Lithium™ Project financing update." Highlights include:
- " BNP Paribas, Vulcan’s debt financial advisor, has approached a number of government-backed Export Credit Agencies 1 (ECAs) which have now confirmed their in-principle support of Vulcan’s Phase One Project financing, subject to certain conditions.
- Bpifrance Assurance Export, the French ECA and subsidiary of Bpifrance, the French national investment bank, acting in the name, on behalf and under the control of the French State, confirmed, based on the value of Vulcan’s lithium offtake agreements with automakers Stellantis and Renault, and its strategic importance to the French Automotive industry, the eligibility of Vulcan's project to their untied program Garantie des Projets Stratégiques (Guarantee of Strategic Projects), designed by the French government to support projects that have a national interest for the French economy in France and abroad.
- SACE, Italy's government ECA, confirmed Vulcan's project eligibility to their tied Export Credit Program based on the expected presence of an Italian contractor amongst the construction contractors.
- Export Development Canada, the Canadian ECA, confirmed its interest in participating through direct lending in the financing of Phase One, based on the expected presence of Canadian contractors and the project's purchase of Canadian goods and services. EDC’s participation is conditional on the successful completion of its due diligence process.
- Feedback from further government-funded ECA eligibility of Vulcan's project is expected in the coming months, with Vulcan and its advisors’ targeting completion of the debt and equity financing process in the first quarter of 2024.
- An initial market sounding conducted by BNP Paribas with large international commercial and development banks, including European and German banks, has recently been completed, and has delivered positive feedback.
- Total CAPEX for Phase One is estimated at 1.496B EUR (see Vulcan’s Phase One DFS 2 ), and Vulcan is targeting a debt to equity ratio of 65:35%.
- Vulcan is in active discussions with strategic investors for equity investment at a project level into its Phase One commercial, integrated lithium and renewable energy project, and expects to provide an initial update on this matter in the near future."
Upcoming catalysts include:
- Q1 2023 - DFS, potential permitting and project funding.
- End 2026 - Target to commence commercial production, then ramp to 40,000tpa.
Critical Elements Lithium Corp. [TSXV:CRE] [GR:F12] (CRECF)
No news for the month.
Investors can view the company's latest presentation here.
Upcoming catalysts include:
- 2023 - Possible off-take or project financing announcements.
You can read the latest Trend Investing Critical Elements Lithium article here .
Standard Lithium [TSXV:SLI] ( SLI )
On March 28 Standard Lithium announced :
Standard Lithium drills and samples highest confirmed grade lithium brine in North America......with a grade of 634 mg/L lithium. In Standard Lithium’s experience, the grade of lithium in brine used for Direct Lithium Extraction (DLE) has a meaningful impact on both capital expenditures and operating costs in connection with the extraction process, with a higher grade typically resulting in lower overall costs.
ioneer Ltd [ASX:INR] [GR:4G1] ( GSCCF ) ( IONR )
ioneer ltd. announced in September 2021 the sale of 50% of its flagship lithium boron project to Sibanye Stillwater for US$490m.
No significant news for the month.
Upcoming catalysts include:
- 2023 - Possible permitting approval.
AVZ Minerals [ASX:AVZ] (AZZVF)
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.
No significant news for the month.
Upcoming catalysts include:
- 2023 - Any arbitration news in the Manono Project dispute with Zijin Mining Group.
Note: July 2022 - AVZ Minerals ‘confident’ despite Manono dispute remaining unresolved
Global Lithium Resources [ASX:GL1]
No significant news for the month.
Lake Resources NL [ASX:LKE] [GR:LK1] ( LLKKF )
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.
On April 3 Lake Resources NL announced :
Lake Resources announces independent verification of high -g rade lithium c arbonate from Kachi Demonstration Plant......grades and purity greater than 99.8%......
On April 17 Lake Resources NL announced :
Lake Resources and Lilac Solutions announce achievement of major milestone for Project Kachi. Argentina lithium development project successfully produces 2,500kg of lithium carbonate with minimal environmental impact; unlocks commercial development.....
European Lithium Ltd [ASX:EUR] ( EULIF )
On April 4 European Lithium Ltd. announced :
EUR to u ndertake on-market share buy-back...... of up to 100,000,000 ordinary shares (Share Buy-Back). These shares represent approximately 6.7% of the shares on issue and, based on yesterday’s closing share price, the cash cost would be approximately $6.9m.
On April 5 European Lithium Ltd. announced : " Quarterly report q uarter ended 31 March 2023." Highlights include:
- " ......... EUR advance towards completion of business combination with Sizzle Acquisition Corp. that at conclusion will own the Wolfsberg Project via a newly-formed company, “Critical Metals Corp.” which is expected to be listed on NASDAQ.
- EUR agrees revised terms for the proposed acquisition of European Lithium Ukraine LLC (formerly, Petro Consulting), a Ukrainian company that is applying for special permits to extract and process lithium from two lithium projects (Shevchenkivske and Dobra) located in Ukraine.
- EUR execute a binding heads of agreement with 2743718 Ontario Inc. to acquire 100% of the Bretstein-Lachtal Project, Klementkogel Project and the Wildbachgraben Project (together, Austrian Lithium Projects) located in the Styria mining district of Austria. "
Upcoming catalysts include:
- End Q1, 2023 - DFS due.
- Q2, 2023 - Merger transaction and NASDAQ listing expected to complete.
- August 8, 2023 - Deadline to complete business combination to form Critical Metals Corp.
Savannah Resources [LSE:SAV] [GR:SAV] ( SAVNF )
On March 27 Savannah Resources announced :
Barroso Lithium Project update. Action brought against the Republic of Portugal by Parish Council extinguished.....
On April 5 Savannah Resources announced :
Financial results for the year ended 31 December 2022.....If a positive decision on the Project's Environmental Report is received from the Portuguese environmental regulator ('APA'), cash reserves will carry the Company into the second phase of the environmental licencing process and allow Savannah to progress the Definitive Feasibility Study ('DFS') on the Barroso Lithium Project (the 'Project').....
On April 20 Savannah Resources announced :
Barroso Lithium Project EIA update. End of public consultation period....."We now look forward to receiving APA's DIA decision by 31 May 2023."
Upcoming catalysts include:
- May 31, 2023 - Declaration of Environmental Impact ('DIA') decision due.
- 2024 - DFS due.
European Metals Holdings [ASX:EMH] [AIM:EMH] [GR:E861] ( ERPNF ) ( EMHLF )( EMHXY )
No significant news for the month.
Upcoming catalysts include:
- 2023 - DFS. Any off-take or project funding deals.
You can read a recent Trend Investing update article on EMH here .
Galan Lithium [ASX:GLN]
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.
No significant news for the month.
Century Lithium Corp. (TSXV:LCE) ( CYDVF )(Formerly Cypress Development Corp.)
Century Lithium Corp. owns tenements in the Clayton Valley, Nevada, USA.
On April 17 Century Lithium Corp. announced :
Century Lithium provides update on collaboration with Koch Technology Solutions.....The KTS equipment has been installed and is now operating at Century Lithium’s Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada, USA. The collaboration between Century Lithium and KTS begins a field trial of KTS’ Li-Pro™ equipment to treat the process solutions generated at the Pilot Plant in the leaching of bulk sample claystone collected from the Company’s Clayton Valley Lithium Project (“Project”).....
Frontier Lithium [TSXV:FL] ( LITOF )
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).
No news for the month.
Investors can read the recent Trend Investing article here and the recent CEO interview here .
Patriot Battery Metals [TSXV:PMET] ( PMETF )
Patriot Battery Metals own the Corvette Lithium Project in James Bay, Quebec. No resource yet but some great long length drill results.
On March 29 Patriot Battery Metals announced : "Patriot drills 83.7 m of 3.13% Li2O, including 19.8 m of 5.28% Li2O, and Extends High-Grade Nova Zone, Corvette Property, Quebec, Canada." Highlights include:
- "Extension of the high-grade Nova Zone eastwardly by 400 m – drill holes CV23-105, 106, 107, and 108.
- 83.7 m at 3.13% Li 2 O (222.7 m to 306.4 m), including 19.8 m at 5.28% Li 2 O and 5.1 m at 5.17% Li 2 O (CV23-105).
- 132.2 m at 1.22% Li 2 O (274.1 m to 406.3 m), including 11.2 m at 2.99% Li 2 O and 6.0 m at 2.92% Li 2 O (CV23-106).
- 65.4 m at 1.30% Li 2 O (293.2 m to 358.6 m), including 37.1 m at 2.09% Li 2 O or 3.0 m at 5.43% Li 2 O (CV23-107).
- 54.0 m at 1.55% Li 2 O (294.7 m to 348.6 m), including 26.6 m at 2.44% Li 2 O or 5.0 m at 4.30% Li 2 O (CV23-108).
- The Nova Zone has now been traced over a 750 m strike length, including a very high-grade band of greater than 5% Li 2 O over a minimum 200 m strike length.
- Other significant intercepts include:
- 85.0 m at 1.04% Li 2 O (184.4 m to 269.4 m), including 39.4 m at 1.51% Li 2 O (CV23-110).
- 22.6 m at 2.13% Li 2 O (230.6 m to 253.1 m), including 6.5 m at 3.44% Li 2 O (CV23-115).
- 23.8 m at 1.61% Li 2 O (307.8 m to 331.6 m) (CV23-116)......
- Six (6) core drilling rigs currently active at the CV5 Pegmatite."
On April 12 Patriot Battery Metals announced : "Patriot provides update on environmental and pre-feasibility study activities at the CV5 pegmatite, Corvette Property, Quebec, Canada." Highlights include:
- "Environmental baseline data collection continued on the Project this winter period, including a large mammal survey and winter bird survey.
- Environmental surveys are planned for the remainder of the year and will provide important baseline data for the CV5 Project impacts assessment.
- A Phase I hydrogeological program targeting the CV5 Pegmatite area is underway at site.
- Authorization for an all-season road is pending. Construction is anticipated to be completed in H2 2023, for use beginning in Q1 2024.
- Order has been placed for a camp (up to 80 persons) and is expected to be operational by early summer.
- Scheduling underway for summer-fall field and desktop component activities including a Phase II hydrogeological program, geotechnical drilling and sampling, infrastructure site selection, condemnation drilling, and various environmental surveys."
Investors can read the Trend Investing article here .
Latin Resources Ltd [ASX:LRS] ( OTC:LAXXF )
LRS' flagship is the 100% owned Salinas Lithium Project in the pro-mining district of Minas Gerais, Brazil. The Salinas Project has a maiden Indicated & Inferred JORC Mineral Resource estimate of 13.3Mt @ 1.2% Li2O at the Colina deposit.
On March 29 Latin Resources Ltd announced : "MOU to assist fast-tracking approvals for Salinas Project." Highlights include:
- " Invest Minas to facilitate support from all government bodies to fast-track approvals and licencing for Latin Resources Salinas Lithium Project (“the Project”).
- Latin Resources has signed a non-binding MoU with the State Economic Department of Minas Gerais (Invest Minas) to collaborate on building the battery materials sector and supply chain investment in the region.
- Invest Minas to assist where possible to streamline project development, environmental and other approvals and licencing of the Salinas Lithium Project.
- Collaboration to include mutual support to develop the lithium sector in Minas Gerais.
- The Salinas Lithium Project has been considered a priority project for the State of Minas Gerais government, providing Latin with a potential streamlined pathway through the development approvals process. "
On April 12 Latin Resources Ltd announced : "More high-grade Colina intersections. Salinas company update." Highlights include:
- " Latest drilling results continue to confirm the expansion of the Colina pegmatite swarm, providing additional confidence in a significant resource upgrade in June.
- Latest results include: SADD078: 14.00m @ 1.55% Li 2O from 323.00m... SADD080: 12.59m @ 1.46% Li 2O from 274.46m. SADD081: 16.92m @ 1.36% Li 2O from 242.48m. SADD082: 27.15m @ 1.45% Li 2O from 237.00m .
- Systematic resource definition drilling progressing well; high-grade pegmatite swarm extends over an area of approximately one kilometre by one kilometre to a depth of 400m below surface, open in all directions.....
- Detailed full pilot plant DMS + float metallurgical test work program scheduled to commence in Q3 2023, to be immediately followed by hydrometallurgy test work to produce final sulphate and other lithium products.
- Salinas South drilling to commence next quarter. "
On April 19 Latin Resources Ltd announced :
Latin Resources receives firm commitments for a A$37.1 million placement to accelerate resource growth and fast track development approvals.
You can read the very recent Trend Investing article that discusses Latin Resources here .
Lithium Power International [ASX:LPI] ( OTC:LTHHF)
LPI owns 100% of the Maricunga Lithium Brine Project in Chile, plus plans to demerge its Australian assets into a new company called Western Lithium Ltd.
On April 24 Lithium Power International announced :
The New Chilean National Lithium Policy..... We embrace the objective of Chile’s current administration to promote public-private associations as the path forward for the development of the Maricunga Stage Two project.
Upcoming catalysts:
- 2023 - Possible spin-out of Western Australian Greenbushes and Pilgangoora lithium assets.
American Lithium Corp. [TSXV: LI] ( AMLI ) (acquired Plateau Energy Metals Inc.)
No news for the month.
Wealth Minerals [TSXV:WML] [GR:EJZN] ( OTCQB:WMLLF )
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 April 24 Wealth Minerals announced : "Wealth Minerals position on New Chilean Lithium Policy." Highlights include:
- "Initially CODELCO or ENAMI, Chile’s state-owned copper mining companies, will serve as the state-partner in a 51/49% ownership structure of public/private partnerships for lithium projects development.
- A new State Lithium Company will be created to be the future partner or sole developer of lithium projects going forward.
- Existing operations in the Atacama salar (namely by Sociedad Química y Minera de Chile (NYSE: SQM) and Albemarle Corporation (NYSE: ALB)) will be required to negotiate new operating contracts when their current contracts with state development company CORFO expire (expiry in 2030 for SQM and 2043 for Albemarle)
- Explicit ban on all solar evaporation recovery methods for future projects.
- Government guidance regarding indigenous and local community involvement in lithium project development."
Investors can view the company's latest presentation here.
E3 Lithium Ltd. [TSXV:ETL] [FSE:OW3] ( EEMMF ) (Formerly E3 Metals)
E3 Lithium Ltd. 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 Resource of 24.3mt LCE.
On April 11 E3 Lithium Ltd. announced : "E3 Lithium receives license for Field Pilot Plant and provides progress update....."
On April 20 E3 Lithium Ltd. announced : "E3 Lithium files 2022 year end financial results and NI 43-101 Technical Report." Highlights include:
- "Government support: Awarded $27 million from the Government of Canada’s Strategic Innovation Fund.
- Strategic partnerships: Executed a USD $5 million Strategic Agreement with Imperial Oil Limited......"
You can read the company's latest presentation here .
Nevada Lithium Corp. [CSE:NVLH] ( NVLHF )
Own the Bonnie Claire Project in Nevada, USA; with an Inferred Resource of 18.68 million tonnes LCE.
On March 27 Iconic Minerals announced :
Nevada Lithium and Iconic Minerals Enter into arrangement agreement to consolidate 100% ownership interest in the Bonnie Claire Lithium Property, Nevada. Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) (“Nevada Lithium” or the “Company“) and Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (“Iconic“) are pleased to announce that they have entered into a definitive arrangement agreement dated March 24, 2023 (the “Arrangement Agreement“), whereby Nevada Lithium will acquire, by way of a plan of arrangement under the Business Corporations Act (British Columbia), Iconic’s 50% interest in the Bonnie Claire Lithium Project (the “Project” or the “Bonnie Claire Project“) located in Nye County, Nevada (the “Arrangement“). After the closing of the Arrangement, Nevada Lithium will hold a 100% interest in the Project.
Arena Minerals (takeover completed by LAC)
On April 12 Arena Minerals announced :
Arena Minerals obtains final order for plan of arrangement.....Pursuant to the Transaction, Arena’s shareholders will receive 0.0226 of a LAC common share and $0.0001 in cash for each Arena common share held......The Transaction is expected to be completed prior to the end of April, 2023, subject to the delivery by the parties of customary closing deliverables.
Rio Tinto [ASX:RIO] [LN:RIO] ( RIO )
On April 7 Balkan Green Energy News reported :
Over 500,000 signatures against Rio Tinto’s proposed lithium mine in Serbia. Environmental activists from Arizona, Madagascar, Serbia and the United Kingdom protested in London against Rio Tinto’s Jadar project in Serbia during the company’s annual general meeting.
On April 20 Rio Tinto announced :
Rio Tinto releases first quarter production results.....At our Rincon lithium project in Argentina, our $140 million estimate and schedule to develop the starter plant is under review in response to significant local inflation and cost escalation for equipment.....
Lithium South Development Corp. [TSXV:LIS] ( OTCQB:LISMF)
On March 30 Lithium South Development Corp. announced :
Lithium South completes final hole of Resource Expansion Program at the HMN Lithium Project, Salta Province, Argentina.....Nine packer samples have been collected between 24 and 189 meters, with a density range of 1.215 to 1.218 g/mL and a conductivity range of 196.3 to 209.5 mS/cm. Samples will be sent to Alex Stewart Laboratories (ISO Certified Mendoza, Argentina) for analysis.
On April 6 Lithium South Development Corp. announced :
Lithium South drills 1176 mg/L lithium at Natalia Maria Claim Block. Lithium South Development is pleased to announce outstanding results from the Natalia Maria claim block at the Hombre Muerto North ((HMN)) Lithium Project, located in Salta Province, Argentina. High-grade lithium results have been encountered in exploration core hole NM01. Brine samples collected from NM01 have an average lithium grade of 1176 mg/L Li and a low magnesium to lithium ratio of 2.66.
You can view a recent Trend Investing Lithium South CEO interview here .
Alpha Lithium [NEO: ALLI] (formerly TSXV: ALLI) [GR:2P62] ( OTCPK:APHLF )
No news for the month.
Avalon Advanced Materials [TSX:AVL] [GR:OU5] ( AVLNF )
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 Petalite Zone Resource of 6.28mt grading 1.37% Li2O, plus an Inferred Resource of 0.94mt at 1.3%. Avalon also has a Partnership JV Agreement with Indian conglomerate Essar to establish Ontario's first regional lithium battery materials refinery in Thunder Bay.
No news for the month.
Snow Lake Lithium ( LITM )
No news for the month.
Essential Metals [ASX:ESS] ( PIONF ) - Acquisition offer @ A$0.50 from Tianqi Lithium Energy Australia effectively blocked by MinRes
For further details see:
Lithium Junior Miners News For The Month Of April 2023