CA - Lithium Junior Miners News For The Month Of February 2023

Summary

• Lithium chemical prices were significantly lower and spodumene prices were roughly flat over the past month.
• Lithium market news - GM invests US$650m into Lithium Americas. Tesla is considering a bid for battery metals miner. Rio Tinto battles high-bidding carmakers in hunt for lithium deals.
• Junior lithium miner company news - Liontown Resources open pit mining operations commence at Kathleen Valley. Leo Lithium achieves key construction milestones at Goulamina. Wesfarmers delays LiOH output to H1,2025.
• Atlantic Lithium Ewoyaa Lithium M&I Resource increases to 35.3Mt at 1.25% Li2O. Vulcan Energy Resources Phase One DFS >250% increase in estimated NPV8% to €3.9Bn pre-tax, €2.6Bn post-tax.
• Global Lithium Resources reports robust Scoping Study result of pre-tax NPV8% of ~A$2.8 billion and 103% IRR. Frontier Lithium intersects 398.25m of pegmatite averaging 1.88% Li2O. Patriot Battery Metals drills 52.2 m of 3.34% Li2O. American Lithium announces positive PEA for TLC, Base Case after-tax NPV8% US$3.26B & after-tax IRR of 27.5%. Winsome Resources drills 93.5m at 1.28% Li2O from 3.0m at Adina.

Welcome to the February 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.

February saw a continued surge of interest in the lithium junior miners, boosted by the news of GM buying into Lithium Americas as well as the report from Bloomberg that Tesla is looking to buy a lithium miner (Sigma Lithium). We also saw one of the best ever lithium drill results from Frontier Lithium (398.25m of pegmatite averaging 1.88% Li ₂ O).

Lithium price news

Asian Metal reported during the past 30 days, the 99.5% China lithium carbonate spot price was down 8.03% and the China lithium hydroxide price was down 7.84% . The Lithium Iron Phosphate (Li 3.9% min) price was down 8.64% . The Spodumene (6% min) price was down 1.20% over the past 30 days.

Benchmark Mineral Intelligence reported China lithium prices of battery grade carbonate - RMB 457,500 ($66,800), hydroxide RMB 473,000 ($69,050), and Benchmark stated (paywalled): "Sentiment surrounding near-term demand remained bearish, with downstream cell and cathode manufacturers continuing to operate at low utilisation rates after Spring Festival. However, given that many Chinese automakers have reduced EV prices across January and February to incentivise sales, contacts have reported expectations that demand could rebound notably towards the end of Q1 2023, driving raw material restocking activities."

Metal.com reported lithium spodumene concentrate (6%, CIF China) price of CNY 37,226 (~USD 5,407/mt), as of February 21, 2022. The CNY price is slightly higher than last month.

China Lithium carbonate spot price 5 year chart - CNY 422,500 (~USD 61,353) ( 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 February 2023" article. Highlights include:

• Germany's Chancellor Olaf Scholz visits South America in race with China for lithium.
• GM's lithium deal (with LAC) the first of many still to come, EV materials analyst says.
• POSCO Chemical signs $33b deal to supply cathode materials to Samsung SDI.
• Albemarle: "Chinese lithium customers are not slowing orders and the country's stockpiles of cathodes and battery parts are decreasing."
• BMI: "Demand for battery raw materials is outpacing supply by three to five times and is growing at a quicker rate as the world continues to push forward to reach net-zero goals."
• Bloomberg Report: Tesla is considering a bid for battery metals miner (?Sigma Lithium). No comment from Tesla or Sigma Lithium.
• Rio Tinto battles high-bidding carmakers in hunt for lithium deals.

Junior lithium miners company news

Liontown Resources [ASX:LTR] ( OTCPK:LINRF )

Liontown Resources 100% own the Kathleen Valley Lithium spodumene project in Western Australia. Funded to production.

On January 31 Liontown Resources announced : "Quarterly activities report for the period ended 31 December 2022." Highlights include:

• "Ramp up of construction at Kathleen Valley with early significant milestones achieved on schedule.
• Process plant site clearing completed ahead of civil works.
• Civil contract awarded and foundations for the SAG Mill and Fine Ore Bin commenced and progressing on schedule.
• Open Pit Mining Preliminary Works Agreement executed, and site mobilisation commenced.
• Bulk Earth Works contractor commenced mobilisation to site in preparation for ramp-up in Q1 2023...
• Project optimisation and scope review progressed to de-risk the construction schedule and identify opportunities to add value...
• Successful recruitment of corporate, project and mining team members in-line with project requirements.
• Cash at bank of $384 million and undrawn Ford debt facility of $300 million."

On February 3 Liontown Resources announced :

Open pit mining operations commence at Kathleen Valley. First blast successfully fired at the Mt Mann Open Pit signalling the commencement of mining operations as planned at the Kathleen Valley Lithium Project in Western Australia.

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 January 31 Leo Lithium announced : "Quarterly report for the quarter ended 31 December 2022."

On February 16 Leo Lithium announced : "Leo achieves key construction milestones at Goulamina." Highlights include:

• "First concrete has been poured at the primary crushing area of the Goulamina Lithium Project.
• Manufacturing of the ball mill and other key crushing and magnetic separation equipment is complete or nearing completion with final inspections underway.
• Other construction activities continue as per the plan, including tailings storage facility (TSF), temporary construction offices and permanent employee accommodation.
• The Project remains on budget and schedule, with commissioning targeted for Q2 2024.
• Early revenue is on track from targeted export of direct shipped ore (DSO) in H2 2023."

You can view the company presentation here .

Upcoming catalysts include:

• H2, 2023 : DSO targeted to begin.
• Q2, 2024 : Commissioning targeted to begin for Goulamina.

Wesfarmers [ASX:WES] ( OTCPK:WFAFY ) (took over Kidman Resources)

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. 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."

On February 15 Wesfarmers announced :

2023 Half-year results. "Progress continued on the construction of the Mt Holland lithium project, with construction of the concentrator over 70 per cent complete at the end of the period and first ore mined and stockpiled in December 2022. While discussions are ongoing, good progress was made on lithium offtake arrangements with major global counterparties during the half." Estimates for WesCEF's expected share of capital expenditure to develop the Mt Holland lithium project have been updated and are detailed on page 8 of this release. WesCEF continued to progress capacity expansion opportunities during the period, both in relation to its existing Kwinana operations and preliminary feasibility work to evaluate an expansion of the mine and concentrator at Mt Holland.

On February 15 Reuters reported :

Wesfarmers delays West Australian lithium hydroxide output to 1H 2025... production of lithium hydroxide will be delayed by around six months while costs jumped... by 10-20 percent... between A$1.2 billion- A$1.3 billion ($838 million-$908 million), up from A$1.09 billion... the impact of the delay expected to be partially offset by the early sale of spodumene concentrate during the 2024 calendar year.

You can view the latest company presentation here .

Upcoming catalysts include:

• H2, 2024 - Mt Holland spodumene production.
• H1, 2025 - Kwinana LiOH refinery planned to begin and ramp to 45 - 50ktpa LiOH .

POSCO [KRX:005490] ( PKX )

On February 13 Jindalee Resources announced : "MOU executed with POSCO Holdings." Highlights include:

• "POSCO and Jindalee to undertake joint research regarding Jindalee's McDermitt Lithium Project ( USA ).
• POSCO to fund metallurgical testwork on McDermitt ore.
• Results from testwork expected by mid 2023."

Upcoming catalysts include:

• Late 2023 - Plan to commission production of POSCO/Pilbara Minerals JV LiOH facility in Korea.
• 2024 - Target to commence production at Hombre Muerto and ramp to 25ktpa LiOH.

Atlantic Lithium Limited [LSE:ALL] [ASX:A11] ( OTCQX:ALLIF )

Atlantic Lithium is progressing its Ewoyaa Project in Ghana towards production. Piedmont Lithium has a 50% project earn-in share.

On January 31 Atlantic Lithium announced : "Quarterly activities and cash flow report for the quarter ended 31 December 2022." Highlights include:

• "Submitted a Mining Licence ("ML") application in respect to the extraction of minerals from the proposed Ewoyaa Lithium Mine to the Minerals Commission of Ghana ("MinCom").
• Completed the infill diamond core and reverse circulation drilling programme at Ewoyaa Project to a total of 47,000m.
• Assay results reported for a further 26,423m of infill and exploration drilling outside of the current 30.1Mt at 1.26% Li2O Mineral Resource, providing potential for further resource upgrade.
• The contract for the processing plant FEED for the Ewoyaa Lithium Project in Ghana, West Africa was awarded to the Primero Group...
• Appointed Keith Muller as its new Chief Operating Officer and Roux Terblanche as Project Manager of the Ewoyaa Project.
• Vincent Mascolo was shortlisted for 'Mining CEO of the Year Award' at the Mine and Money London 2022 Conference.
• Cash on hand at end of quarter was A$19.1 million."

On February 1 Atlantic Lithium announced :

Ewoyaa Lithium Resource increases to 35.3Mt at 1.25% Li ₂ O Measured and Indicated Resources now 79% of total Resource Cape Coast Lithium Portfolio, Ghana, West Africa...

On February 13 Atlantic Lithium announced :

Corporate update. Ricca Resources Pre-IPO Placement. Atlantic Lithium Limited... announces that Ricca Resources Limited ("Ricca") is undertaking a private placement ahead of its intended listing on the Australian Stock Exchange ("ASX").

On February 17 Mining.com reported :

Ghana mining fund mulls multi-million investment in Atlantic Lithium... for funding of up to $30 million... Atlantic says the operation, which is expected to begin production in the second half of 2024, has the potential to generate nearly $5 billion in revenue over its 12.5-year life. The MIIF confirmed plans to take an equity stake in Atlantic Lithium and said the company had agreed to list on the Ghana Stock Exchange. Atlantic Lithium said only that discussions were ongoing, adding that there was no certainty an investment will be made.

Upcoming catalysts include:

• Mid-2023 - Definitive Feasibility Study to be completed.
• 2024 - Production targeted to begin.

Vulcan Energy Resources [ASX: VUL] ( OTCPK: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 January 30 Vulcan Energy Resources announced :

Quarterly activities report December 2022. Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL, the Company) continued to operate its commercial renewable energy plant successfully and deliver on its strategy to develop the Zero Carbon Lithium™ Project during the December 2022 Quarter ("the Quarter"). Key highlights during the Quarter include Vulcan achieving operational advancements in successfully demonstrating its own in-house lithium extraction sorbent, VULSORB™, and producing the highest grade, lowest impurity lithium hydroxide (LiOH) from its pilot plant, as the Definitive Feasibility Study ( DFS ) for Phase One approaches its conclusion.

On February 13 Vulcan Energy Resources announced : "Vulcan Zero Carbon Lithium™ Project Phase One DFS results and Resources-Reserves update." Highlights include:

Aiming to be the first integrated, renewable heat and power, lithium extraction and lithium hydroxide refining project, to supply the battery electric vehicle industry from Europe, for Europe.

• "Targeting 24Ktpa Lithium Hydroxide Monohydrate (LHM) p.a. production from EU, for EU.
• Targeting >300GWh/a renewable power, >250GWh/a renewable heat production p.a.
• >250% increase in estimated NPV8: €3.9Bn pre-tax, €2.6Bn post-tax5.
• 34% estimated IRR pre-tax, 26% IRR post-tax.
• Targeted >€700Mpa estimated revenues. Targeted EBITDA margin of 84%.
• €1,496M estimated CAPEX, increase broadly in line with larger project and inflation.
• Low estimated OPEX of €4,359/t LHM.
• Targeted 3.5-year payback (Integrated Project). Target start of production end-2025.
• Net zero per tonne estimated LHM carbon footprint: a world first in lithium industry.
• Zero Scope 1 fossil fuels. Net water consumption very low.
• Increase in Resources and Reserves relative to Integrated Phase One PFS: largest lithium Resource in EU."

Upcoming catalysts include:

• Q1 2023 - DFS, potential permitting and project funding.
• End 2025 - Target to commence commercial production and ramp to 40,000tpa by end 2026 .

Standard Lithium [TSXV:SLI] ( SLI )

On January 31 Standard Lithium announced :

Standard Lithium installs Carbon Capture Pilot Plant, Testing Novel Technology to limit emissions and advance sustainability.

On February 9 Standard Lithium announced : "Standard Lithium reports fiscal second quarter 2023 results, furthers progress on path toward commercial development." Highlights include:

• "Maintained Strong Balance Sheet - As of December 31, 2022, the Company's cash on hand totaled $107 million and a working capital surplus was $105 million.
• Signed Agreement to Advance Design of First Commercial Lithium Plant- Standard Lithium completed the Site Access Agreement for its first commercial lithium plant, achieving an important milestone for one of its two flagship projects. This agreement exclusively secures the property and enables the Company to conduct all required fieldwork to support the DFS. With the agreement in place, Standard Lithium has begun the site work necessary to design the plant, including determining important ground conditions and placing key equipment.
• Received Notice of Allowance for Final U.S. Patent Application."

Critical Elements Lithium Corp. [TSXV:CRE] [GR:F12] ( OTCQX:CRECF )

On February 1 Critical Elements Lithium Corp. announced :

Corporate update... Critical Elements has commenced a drilling program on it's wholly owned Lemare Lithium project, located within a portion of the Corporation's highly prospective 1,050km2 exploration portfolio... The Corporation plans to drill approximately 7,000 meters during its winter program on Lemare with the objective of delivering an initial mineral resource estimate later this year.

On February 6 Critical Elements Lithium Corp. announced :

COMEX recommends the approval of Hydro-Québec's connection and power line relocation project to Power the Rose Lithium-Tantalum Project...

On February 21 Critical Elements Lithium Corp. announced :

Critical Elements Lithium recognized as a TOP 10 Ranked Company in the Mining Sector by TSX Venture 50 for 2023...

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 .

ioneer Ltd [ASX:INR] [GR:4G1] ( OTCPK:GSCCF ) ( IONR )

ioneer ltd. announced in September 2021 the sale of 50% of its flagship lithium boron project to Sibanye Stillwater for US$490m.

On January 27 ioneer Ltd reported : "Quarterly activities report for the period ending 31 December 2022." Highlights include:

• "U.S. Department of Energy offers conditional commitment for a loan of up to US$700 million for the Rhyolite Ridge Project (announced Jan 16, 2023).
• Rhyolite Ridge Project advances into final stage of permitting: BLM published Notice of Intent. Major milestone toward completion of the NEPA process and approval of the Project's Plan of Operations..."

Upcoming catalysts include:

• 2023 - Possible permitting approval.

AVZ Minerals [ASX:AVZ] ( OTC: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.

On January 31 AVZ Minerals announced : "Activities report for the quarter ending 31 December 2022." Highlights include:

• "AVZ's securities remained in Voluntary Suspension during the December Quarter pending the finalisation of its mining and exploration rights for the Manono Lithium and Tin Project ("Manono Project") and continued its high level discussions with the DRC Government with respect to the award of the mining licence and permits required for the Manono Project. AVZ confirmed and continued to defend its legal rights..."

On February 6 AVZ Minerals announced :

Issue of two new Ministerial Decrees Manono Lithium and Tin Project... As advised by the Company at the time of this announcement, the Ministerial Decree excluded a northern portion of PR13359 covering approximately one third of the entire licence which it understood from the DRC Mining Act, would be renewed under a further 5-year Permis de Recherche (PR or Exploration Licence) to Dathcom...

On February 10 AVZ Minerals announced : "Clarifications on suspension and AFR articles."

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]

On January 25 Global Lithium Resources announced : "Metallurgical processing program underway at Manna Lithium Project. Feasibility Study to commence Q1 CY23."

On January 31 Global Lithium Resources announced : "Positive drilling results at Manna underpin potential future resource upgrade." Highlights include:

• "Highlights from the latest RC and Diamond results include: MRC0126, 17m @ 1.60% Li2O from 114m. MRC0108, 15m @ 1.20% Li2O from 107m. MRC0141, 13m @ 1.40% Li2O from 34m...
• New significant assay results are not included in the recently upgraded Manna Mineral Resource1, or the Manna Scoping Study, due for completion in Q1 CY23.
• An additional 3,500m assay results from the 2022 drilling program remain outstanding, further underpinning the growth potential of the existing Manna Mineral Resource..."

On February 14 Global Lithium Resources announced : "Manna Lithium Project progresses after robust scoping study results."

Scoping Study confirms the potential for a globally competitive lithium project

• "GL1 owns 100% of the Manna Lithium Project located in Western Australia.
• Total Mineral Resource Estimate (MRE) of 32.7Mt at 1.00% Li 2O, with 58% in the Indicated category.
• Life-of-Mine (LOM) of 10 years with an estimated total production of 2.2Mt of spodumene concentrate.
• Concentrator nameplate capacity is 2Mtpa of run-of-mine ( ROM ) ore."

Excellent project economics and financial returns

• "Cash operating cost for LOM is US$688/t for a 5.5% Li2O spodumene concentrate (SC5.5, FOB).
• Robust pre-tax NPV8% of approximately A$2.8 billion and 103% IRR.
• Rapid payback of 15 months after first production using a long-term spodumene concentrate price of US$2,500/t SC5.5 (CIF, China) as forecast by Fastmarkets, an internationally recognised price reporting agency."

Low risk open pit mining in a proven mining jurisdiction

• "Large scale open pit contract mining...
• Exploration program is being finalised with a focus on extending mine life.
• Environmental baseline studies underway with the Company well positioned to submit Works Approvals early in CY24."

Lake Resources NL [ASX:LKE] [GR:LK1] ( OTCQB: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 January 30 Lake Resources NL announced :

Secondary trading notice. Clean lithium developer Lake Resources NL (ASX: LKE; OTC: LLKKF) provides notice to the ASX for the purposes of section 708A(5)(e) of the Corporations Act that on 30 January 2023 it undertook the issue of 25,000,000 fully paid ordinary shares pursuant to a placement.

European Lithium Ltd [ASX:EUR] ( OTCQB:EULIF )

On January 31 European Lithium announced : "Quarterly report quarter ended 31 December 2022." Highlights include:

• "EUR signed a long term agreement (LTA) with BMW to supply battery grade lithium hydroxide (LiOH).
• DRA Global ( DRA ) as lead consultant managing the Definite Feasibility Study [DFS] has completed the advanced technical and financial planning work during the quarter with the anticipated completion date for the DFS being the end of the first quarter in 2023. Dorfner Anzaplan (Dorfner) continue to work on optimizing the concentrator flow to increase spodumene concentrate levels with the aim to reduce energy consumption for all further processing.
• Planning for Zone 2 exploration drilling completed. The application for approval lodged at the mining authority.
• EUR continues to collaborate with a research group from University of Graz to develop local production of lithium hydroxide from recycled Lithium-Ion batteries.
• GREENPEG (EU-funded) supported infield and underground work continues.
• E47/4144 located in the northwest of Australia continues to progress through the WA Mining Act regulatory application process.
• The Company entered into a business combination agreement with Sizzle Acquisition Corp, pursuant to which EUR will sell its ownership interest in subsidiary entities which together hold the Wolfsberg Lithium Project, and be issued US$750 million, worth of shares in the combined entity representing approximately 80% ownership interest, in Critical Metals Corp which is expected to be listed on NASDAQ.
• Subsequent to the quarter end, the Company entered into a non-binding Memorandum of Understanding with Obeikan Investment Group to build and operate a hydroxide plant in Saudi Arabia for the 100% owned Wolfsberg Project."

On February 3 European Lithium announced :

Sizzle Acquisition Corp. announces approval of extension of deadline to complete business combination to form Critical Metals Corp... from February 8, 2023 to August 8, 2023, or such earlier date as determined by Sizzle's Board of Directors (the Extension).

On February 10 European Lithium announced : "Interim financial report December 2022."

Upcoming catalysts include:

• End Q1, 2023 - DFS due.
• August 8, 2023 - Deadline to complete business combination to form Critical Metals Corp.

Savannah Resources [LSE:SAV] [GR:SAV] ( OTCPK:SAVNF )

On January 27 Savannah Resources announced :

Lapse of period for entering into an Option Agreement for potential divestment of last remaining Mozambique Mining Concession.

On February 6 Savannah Resources announced : "Barroso Lithium Project decarbonisation update. Preliminary results and studies move to next phase."

On February 14 Savannah Resources announced :

Barroso Lithium Project Update. Court ruling on the action brought against the Republic of Portugal by Parish Council. The Mirandela Fiscal and Administrative Court (the "Court") has ruled that the Portuguese State and the Ministry of Economy are not legitimate parties in this lawsuit and, therefore, acquitted the defendants (the Portuguese State, the Ministry of Economy) and counter-interested party (Savannah) of all requests made by the Parish Council. As a result, this lawsuit will be extinguished if the Parish Council does not file an appeal within 30 days. The lawsuit neither impacts the Barroso Lithium Project's activities nor the current environmental impact assessment process which is moving to a conclusion. The advice from Savannah's lawyers was and remains that the lawsuit is without foundation. Savannah will make further announcements as appropriate.

Upcoming catalysts include:

• Q2, 2023 - Declaration of Environmental Impact ('DIA') decision potentially due.
• 2024 - DFS due.

European Metals Holdings [ASX:EMH] [AIM:EMH] [GR:E861] ( OTCPK:ERPNF ) ( OTCQX:EMHLF )(NASDAQ: OTCQX:EMHXY )

On January 30 European Metals Holdings announced : "European Union's Just Transition Fund approves Cinovec as a Strategic Project."

On January 31 European Metals Holdings announced : "Quarterly activities report December 2022..."

On February 2 European Metals Holdings announced : "DRA Global appointed to complete Definitive Feasibility Study for Cinovec..."

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.

On January 31 Galan Lithium announced : "Quarterly activities report December 2022." Highlights include:

Hombre Muerto West DFS:

• "DFS engineering and associated workstreams/infrastructure on track and budget.
• Reserve conversion work on course for Measured Resource of 4.4 Mt LCE @ 886 mg/l Li, one of the largest high-grade measured resources in Argentina.
• High-flow, high-grade, long-term pumping test results completed on three (3) wells at Pata Pila and Rana de Sal.
• Confirmed well-ready flow capacity for development of 4 Ktpa LCE pilot plant.
• Full-scale HMW production permitting (20 Ktpa+ LCE) to be lodged Q1, 2023."

HMW Exploration and Resource Expansion:

• "Drilling and geophysical data confirms further lithologic and brine continuity.
• Santa Barbara drilling (SB-01-22) completed at 455m depth."

Greenbushes South:

• "Galan acquires 100% of Greenbushes South Lithium Project, located only 3km from the world-class Greenbushes Lithium Mine, POW approval and drilling imminent."

Corporate:

• "Cash on hand at the end of quarter was ?A$38 million."

On February 8 Galan Lithium announced : "Galan moves to 100% title of Candelas Project in Catamarca, Argentina." Highlights include:

• "100% title to Candelas Project completed.
• No 3 rd party royalties.
• Readily accessible reverse osmosis water source, no river water required.
• PEA completed in November 2021 - robust economic results, unleveraged Pre-tax NPV of US$1,225m (8% discount rate) and IRR of 27.9% with a four (4) year payback period.
• Long life project 25 years of 14ktpa of battery grade lithium carbonate (LCE).
• Indicated mineral resource of 685kt LCE @ 672mg/l Li, low impurities.
• Candelas Project studies to be re-visited after completion of Hombre Muerto West DFS."

Century Lithium Corp. (TSXV:LCE) (Formerly Cypress Development Corp.)

Century Lithium Corp. owns tenements in the Clayton Valley, Nevada, USA.

On January 26 Cypress Development Corp. announced :

Cypress Development Changes Name to Century Lithium Corp and new ticker symbol 'LCE' Effective January 30, 2023.

On February 9 Century Lithium Corp. announced :

Century Lithium and Koch Technology Solutions collaborate on Li-Pro™ Process for commercial direct lithium extraction... "Century Lithium's collaboration with KTS and KES has been productive, and we look forward to working together as we broaden our relationship," said Bill Willoughby, President & CEO of Century Lithium. "Our DLE process in the Pilot Plant is performing very well and we are excited to work with Koch as we advance the Project."

Frontier Lithium [TSXV:FL] ( OTCQX: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).

On January 31 Frontier Lithium announced : "Frontier lithium discovers a new LCT pegmatite and annouces results from 2022 regional mapping program." Highlights include:

The mapping program delivered several key results, including:

• "Discovery of a new pegmatite zone approximately 1km WNW of the Spark deposit; Two grab samples with an average grade of 3.1 % Li ₂ O
• Significant expansion of the Pennock Pegmatite showing; Three grab samples grading 1.7%, 1.7%, and 3.0% Li ₂ O
• Generation of prospective targets to be followed up in future regional mapping and prospecting programs."

On February 8 Frontier Lithium announced : "Frontier Lithium intersects 398.25m of pegmatite averaging 1.88% Li ₂ O, including a 23.4m zone of 3.12% Li ₂ O." Highlights include:

• "The Company completed 15,984m of drilling in 50 holes in 2022. Highlights from the seven Phase XII diamond drill holes reported are included below.
• DDH PL-094-22 was designed to define the western extent of the Spark pegmatite and to target the recently discovered NW Spark zone. This hole was the first indication that the NW zone was connected to the main Spark pegmatite at depth, intersecting 125.9m of pegmatite averaging 1.51% Li ₂ O..."

Investors can read the recent Trend Investing article here and the recent CEO interview here .

Patriot Battery Metals [TSXV:PMET] ( OTCQX:PMETF )

Patriot Battery Metals own the Corvette Lithium Project in James Bay, Quebec. No resource yet but some great long length drill results.

On January 29 Patriot Battery Metals announced :

Patriot drills 52.2 m of 3.34% Li2O, including 15.0 m of 5.10% Li2O, in Easternmost drill hole from the 2022 Drill Campaign at the CV5 Pegmatite, Quebec, Canada...

On February 5 Patriot Battery Metals announced :

Patriot extends strike length of CV5 Pegmatite by 400 m in first series of holes from its 2023 Drill Campaign, Corvette Property, Quebec, Canada...

On February 13 Patriot Battery Metals announced :

Patriot drills 22.6 m at 1.56% Li2O, including 6.0 m at 3.19% Li2O in first holes to test the CV13 Pegmatite Cluster at the Corvette Property, Quebec.

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 January 30 Latin Resources announced : "Quarterly activities report for the period ending 31 December 2022." Highlights include:

Salinas Lithium Project, Brazil

• "Maiden independent JORC Indicated and Inferred Mineral Resource Estimate for the Colina Lithium Deposit of 13.3 Mt @ 1.2% Li2O reported above a cut-off of 0.5% Li 2O (2.08 Mt Indicated and 11.17 Mt Inferred).
• Significant upside growth potential identified at Colina, with SGS confirming an independent estimated JORC Exploration Target Range.
• Recent drilling at the Colina West prospect, 500m to the west of Colina has confirmed the continuity of the thick high-grade spodumene pegmatites.
• A 65,000m drilling campaign planned for 2023, with the addition of four more drilling rigs for a total of eight on site. This expanded drilling program is designed to fast track rapid resource growth at the Colina and Colina West Deposit and underpin a rapid move towards potential future development.
• Preliminary Economic Assessment (PEA) is well under way to allow fast tracking of a DFS in 2023.
• Exceptional metallurgical test work results showing consistency of lithium recovery across the known ore body; results also show increased crush size (12.5mm) recovery and grade remaining high, demonstrating very coarse liberation of spodumene: Average recovery of 80.5% of Li 2O; and Production of extremely high-grade Li 2O concentrate (up to 6.6%) from simple Heavy Liquid Separation (HLS)."

Corporate

• "Latin held $26.871 million in cash and investments as at 31 December 2022."

On February 8 Latin Resources announced : "Salinas Lithium Project tenure expanded by over 367%. Latin secures significant new tenement package in the highly prospective Bananal Valley region." Highlights include:

• "The Company has significantly expanded the Salinas Lithium Project tenure, by securing a large package of new tenements in the highly prospective region which hosts the Company's 100% owned Colina Lithium Deposit.
• 17 new applications covering over 29,940 hectares have been lodged with the Brazilian National Mining Agency (ANM) over what the Company believes to be areas that contain favourable basement lithologies to host lithium bearing pegmatites, like those found at Colina.
• These new tenements represent an expansion of approximately 367% over the Company's previous holdings, to a total of over 38,000 hectares now under Latin's control..."

On February 16 Latin Resources announced :

Colina West continues to grow with high?grade zone extended to over 500m along strike. 2023 drilling campaign gathering momentum with seven diamond drilling rigs currently on?site drilling... Latest results include: SADD061: 20.70m @ 1.51% Li2 O from 159.00m...

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 January 25 Lithium Power International announced :

Drilling at Greenbushes lithium project... Samples have been submitted to an assay laboratory for analysis.

On January 31 Lithium Power International announced : "Activity report for the quarter ended December 2022." Highlights include:

• "Completed consolidating ownership of 100% of Maricunga Lithium Project...
• Battery grade lithium carbonate produced with 99.92% purity from Maricunga...
• Completed the acquisition of water rights for Maricunga...
• Commenced RC and diamond drilling at East Kirup lithium prospect, Western Australia. Several zones encountered indicated the potential for pegmatites at part of the LPI's Greenbushes project in the south-west of Western Australia.
• MSB continues with its project financing process. Non-binding terms sheets being evaluated from parties interested in providing both equity and debt for Maricunga development. Progress as expected during upcoming months."

Upcoming catalysts:

• H1 2023 - Possible spin-out of Western Australian Greenbushes and Pilgangoora lithium assets.

American Lithium Corp. [TSXV: LI] ( AMLI ) (acquired Plateau Energy Metals Inc.)

On January 24 American Lithium Corp. announced : "American Lithium announces Royalty Buyback at its TLC Lithium Project in Nevada."

On February 1 American Lithium Corp. announced : "American Lithium announces positive Preliminary Economic Assessment for TLC, Base Case - After-tax NPV8% US$3.26 Billion & After-tax IRR of 27.5%." Highlights include:

TLC PEA Highlights (Base Case - Ramp-up Production Li only production):

• "Pre-tax Net Present Value ("NPV")8% $3.64 billion at $20,000/tonne ("t") LCE.
• After-tax NPV8% $3.26 billion at $20,000/t LCE.
• Pre-tax Internal Rate of Return ("IRR") of 28.8%.
• After-tax IRR of 27.5%.
• PEA mine and processing plan produces 1.46 Mt LCE LOM over 40 years.
• Pre-tax initial capital payback period 3.6 years; after-tax payback 3.8 years.
• Average LOM annual pre-tax cash flow: $435 million; annual after tax cash flow: $ 396 million.
• Initial Capital Costs ("Capex") estimated at $819 million.
• Total Capex estimated at $1,431 million; Sustaining Capital estimated at $792 million.
• Operating cost ("Opex") estimated at $7443/t LCE inclusive of power credits."

On February 2 American Lithium Corp. announced : "American Lithium announces financial and operating highlights for the third quarter ended November 30, 2022."

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 January 25 Wealth Minerals announced : "Wealth Minerals agrees to acquire shares of Electric Royalties Ltd."

Investors can view the company's latest presentation here.

E3 Lithium Ltd. [TSXV:ETL] [FSE:OW3] ( OTCQX: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 January 25 E3 Lithium Ltd. announced :

E3 Lithium increases land position by acquiring last remaining permit in the Bashaw District... The newly acquired permit will be included in E3's upcoming technical report where it is likely to contribute additional resource volumes to E3's already significant 24.3 million tonnes of inferred lithium resources. The upcoming report will outline upgrades to E3's resource from Inferred to Measured and Indicated.

On February 2 E3 Lithium Ltd. announced : "E3 Lithium on track for field pilot in Q3 2023..."

On February 13 E3 Lithium Ltd. announced : "E3 Lithium received $4.9 million since Q3 2022 from Exercise of Warrants..."

You can read the company's latest presentation here .

Iconic Minerals [TSXV:ICM] [FSE:YQGB] ( OTCQB:BVTEF )/ Nevada Lithium Corp. [CSE: NVLH]

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 February 8 Iconic Minerals announced :

Iconic enters into Definitive Property Option Agreement for Smith Creek Lithium Project, Nevada. Iconic Minerals Ltd. (the "Company" or "Iconic") (TSX?V: ICM) (OTC: BVTEF) (FSE: YQGB) announces that, further to its news release dated November 28, 2022, it has entered into a definitive property option agreement (the "Definitive Agreement") with Lithium of Nevada Pty Ltd ("LON"), a private Australian company, whereby Iconic's wholly-owned Nevada subsidiary ("Iconic SubCo") has granted LON the option (the "Option") to earn up to a 50% interest in Iconic's Smith Creek lithium project (the "Smith Creek Project" or the "Project") located 37 miles southwest of Austin, Nevada (the "Transaction").

On February 10 Iconic Minerals announced : "Iconic commences new MT Survey at Smith Creek Lithium Property, Nevada."

For further details see:

Lithium Junior Miners News For The Month Of February 2023