BRWXF - Lithium Junior Miners News For The Month Of June 2023

2023-06-27 11:37:38 ET

Summary

• Lithium chemical spot prices and spodumene prices were very slightly higher the past month. Fastmarkets - Lithium prices to remain elevated this year.
• Lithium market news - BNEF forecasts a 22x scale up in annual lithium demand 2022 and 2050 in the Net Zero Scenario. EU, Argentina sign raw materials MOU, lithium focus.
• Junior lithium miner company news - Wesfarmers Mt Holland construction of the concentrator is over 90% complete. Leo Lithium - Goulamina Resource 48% increase to 211 Mt @ 1.37% Li2O.
• Savannah Resources receives DIA and Barroso Lithium Project new Scoping Study Post-tax NPV of US$953m, IRR of 77%, 1.3 year payback. Frontier Lithium PAK Project PFS results in a post-tax NPV8 of US$1,739m and IRR of 24.1%.
• Patriot Battery Metals drills 127.7 m at 1.78% Li2O and 95.3 m at 1.62% Li2O at the CV5 pegmatite, Corvette Property. Latin Resources 241% increase for the Colina Mineral Resource, total of 45.2Mt @ 1.34% Li2O.

Welcome to the June 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.

June saw another very busy month of news from the lithium juniors and plenty of very good progress.

Lithium price news

Asian Metal reported during the past 30 days, the 99.5% China delivered lithium carbonate spot price was up 2.37% and the China lithium hydroxide price was up 1.11%. The Lithium Iron Phosphate (Li 3.9% min) price was up 1.00%. The Spodumene (6% min) price was up 1.00% over the past 30 days.

Metal.com reported lithium spodumene concentrate (6%, CIF China) average price of USD 4,050/t, as of June 21, 2023.

China lithium carbonate spot price 5 year chart - CNY 310,500 (~USD 43,245) ( 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 June 2023" article. Highlights include:

• Gotion High-Tech announces breakthrough EV battery pack could last 2 million kms, or 130 years of average driving.
• Fastmarkets - Lithium prices to remain elevated this year, battery packs to fall to US$100/kWh by 2025-27.....the long-term outlook and its impact on battery pack costs is one of downwards prices.
• Chile sees lithium swinging into surplus by 2025 as new supply comes online.
• France inaugurates first of four gigafactories in the north.
• Blackrock plans to launch the iShares Lithium Miners and Producers ETF (ILIT).
• Toyota powers up US stake with $2.1bn EV battery plant boost.
• Bloomberg's EV Outlook 2023 announced: "22x scale up in annual lithium demand between 2022 and 2050 in the Net Zero Scenario."
• The Times reported: "The white gold rush: how lithium became our most precious metal."
• GM plans fourth EV battery plant with new Samsung SDI partnership.
• EU, Argentina sign raw materials MOU with lithium in focus.
• Lithium producers warn global supplies may not meet electric vehicle demand.

Junior lithium miners company news

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

The Mt Holland Lithium Project is a 50/50 JV ("Covalent Lithium") 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.

However, in a May 30, 2023 Strategy Briefing presentation (on page 11) Wesfarmers stated regarding the Mt Holland Lithium Project: "First earnings from the sale of spodumene concentrate expected in early CY24 and refinery civil works complete." And on page 83; "Covalent lithium project expansion Mine and concentrator expansion study underway. Consideration of refinery capacity expansion to be undertaken following commissioning." And on page 84: "Construction of the concentrator is over 90% complete with early commissioning underway."

Mt Holland Project update ( source - page 84)

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.

No significant news for the month.

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 211 Mt @ 1.37% Li2O, targeting a production start in mid 2024 .

On May 29, Leo Lithium Limited announced : " Leo Lithium secures A$106m Strategic Placement and transformational Cooperation Agreement with Ganfeng Lithium." Highlights include:

• " Strategic Placement to Ganfeng to raise A$106.1 million from the issue of 131 million new shares, representing 9.9% of Leo Lithium’s total pro-forma shares on issue.
• Strategic Placement Offer Price of $0.81 per share based on a 6.5% premium to Leo Lithium’s 5-day VWAP (Leo Lithium’s all time share price high is $0.82).
• Proceeds from the Strategic Placement ensure Leo Lithium is fully-funded for its share of Goulamina Stage 1 development and operational ramp-up costs, in addition to being well-positioned to progress its various co-commitments with Ganfeng as part of the Cooperation Agreement.
• The Cooperation Agreement is expected to deliver several long-term strategic benefits to Leo Lithium, both at Goulamina and beyond: These include. Conducting a study into raising planned Stage 2 capacity to 500ktpa, lifting overall planned capacity at Goulamina to 1mtpa. Jointly studying the concept of co-investing in a downstream conversion facility in Europe or other suitable region within a reasonable distance of West Africa. Amending the offtake agreement for Goulamina Stage 2 for the potential future downstream conversion facility to produce lithium hydroxide. Establishing and jointly funding an exploration joint venture to focus on opportunities in Australia.
• Upon settlement of the Strategic Placement, Leo Lithium will be well-capitalised with pro forma 31 March 2023 cash of A$177 million, in addition to US$93 million cash and US$40 million undrawn debt held within the Goulamina JV.
• The Strategic Placement is subject to the granting of regulatory approvals in China, as well as the execution of a binding Cooperation Agreement. "

On June 20, Leo Lithium Limited announced : "Significant Goulamina Mineral Resource upgrade 48% increase to 211 Mt." Highlights include:

• " ..... The Measured and Indicated Mineral Resource categories increased in tonnage by 26% to 102.3 Mt at a grade of 1.45% Li2O.
• Scope for further exploration potential as large parts of the resource remain open along strike and at depth.
• Resource upgrade elevates Goulamina to the 5th largest global spodumene deposit.
• Updated Mineral Resource sets the foundation for a new Ore Reserve estimate for Goulamina, scheduled to be completed in August 2023.
• Encouraging results ahead of accelerated Direct Shipping Ore (DSO) revenue in Q4 2023, and first spodumene concentrate in H1 2024 ."

You can view the company presentation here .

Upcoming catalysts include:

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

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 June 22, Eramet announced : " Reporting on financial transparency of the Group as at 31 December 2022....."

On June 22, Eramet announced : " Eramet's economic contribution grew in the main regions in which it operates ."

On June 23, Eramet announced :

Eramet: Information relating to the repurchase by Eramet of all of its outstanding €500,000,000 4.196 per cent Bonds due 28 February 2024 (ISIN: FR0013284643) (the “Bonds”)......The repurchase of the Bonds enables Eramet to manage the Group’s debt profile further proactively and to extend its average maturity, which is now close to 3 years.

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 June 2, Reuters reported :

GM, POSCO Future M to boost investment at Canada battery materials plant. General Motors Co and South Korea's POSCO Future M said they will invest more to expand the production capacity at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over $1 billion. The companies said on Friday the new investment in their Ultium CAM plant, expected to start operating in 2025, will be used to set up additional facilities for local on-site processing of critical minerals used in electric vehicle (EV) batteries.

On June 8, Market Screener reported : "Posco International shares rally on new contract with Hyundai Motor....."

On June 8, Market Screener reported : "Posco International to Supply Hyundai with 2.5 Million Units of Key EV Component....."

On June 21, Market Screener reported : "POSCO announces $1.16 billion JV with China's CNGR on battery materials....."

On June 21, Market Screener reported :

POSCO: Makes lithium for secondary batteries from Salt Lake in Argentina. Construction began at lithium hydroxide plant in Yulchon 1st Industrial Complex in Jeollanam-do (South Jeolla Province) on June 13, expected to have annual production capacity of 25,000 tons....Lithium carbonate produced by salt lake in Argentina. POSCO Group CEO Jeong-woo Choi said, "We will enhance our global competitiveness in lithium and contribute to the development of the domestic secondary battery industry." POSCO Group to build production hub for battery materials in Yulchon Industrial Complex.

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 May 26, Atlantic Lithium Limited announced : "DTC Eligibility for OTCQX Electronic Trading."

On June 20, Atlantic Lithium Limited announced : "Initial drilling results reported. Infill resource drilling confirms continuity and grade. Ewoyaa Lithium Project Ghana, West Africa. Mining Lease Application update." Highlights include:

• "Initial assay results received for 2,208m of infill reverse circulation ("RC") drilling completed at Ewoyaa as part of the broader 18,500m 2023 planned drilling programme.
• Newly reported assay results confirm mineralisation continuity within the Ewoyaa South-2 deposit, part of the 35.3Mt @ 1.25% Li ₂ O Ewoyaa JORC (2012) Compliant Mineral Resource Estimate ¹ ("MRE" or the "Resource").
• Drilling designed to convert Inferred resources to higher confidence Indicated resources at the Ewoyaa South-2 deposit for future mine sequencing optionality.
• Multiple high-grade drill intersections reported as downhole intercepts, with true widths estimated in the intersections table, including highlights at a 0.4% Li ₂ O cut-off and a maximum 4m of internal dilution of: GRC0892: 57m at 1.17% Li ₂ O from 45m. GRC0899: 54m at 1.14% Li ₂ O from 3m. GRC0900: 41m at 1.16% Li ₂ O from 73m. GRC0909A: 33m at 1.12% Li ₂ O from 78m. GRC0896: 18m at 1.16% Li ₂ O from 80m. GRC0908: 19m at 0.93% Li ₂ O from 47m. GRC0906: 11m at 1.5% Li ₂ O from 38m. GRC0906: 17m at 0.91% Li ₂ O from 54m. GRC0908: 10m at 1.53% Li ₂ O from 33m.
• Drilling and regional exploration programmes ongoing.....
• Definitive Feasibility Study remains on track for release end Q2 2023.
• Awaiting approval of Mankessim licence consolidation ahead of resubmission of Mining Lease application for the Project."

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 May 31, Vulcan Energy Resources announced :

Vulcan and Stellantis in Joint Project to develop geothermal renewable energy to supply Mulhouse Plant in France.....

On June 15, Vulcan Energy Resources announced :

Zero Carbon Lithium Project update - Endspurt for LEOP...... Vulcan’s MD and CEO, Dr. Francis Wedin, commented: “Enabled by our strong cash position, we are making steady, methodical progress towards the execution of the Zero Carbon Lithium™ Project. With the final sprint to finish to mechanical completion of our Lithium Extraction Optimisation Plant and negotiation of key contracts for commercial Phase One, there is a hive of activity on the ground.....Completing our Optimisation Plant and starting operations in the coming weeks and months will represent the culmination of over 5 years’ work on the Zero Carbon Lithium™ Project, and the birth of an entirely new domestic lithium industry in Germany and Europe, which we are very excited to share with our stakeholders.”

Upcoming catalysts include:

• End 2026 - Target to commence commercial production at the Zero Carbon Lithium™ Project in Germany, then ramp to 40,000tpa.

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

On May 31, Critical Elements Lithium Corp. announced :

Critical Elements Lithium identifies new LCT pegmatite targets and announces a surface exploration program in the Nemaska Belt Portfolio.....

On June 20, Critical Elements Lithium Corp. announced : "Critical Elements lithium intercepts 1.04% Li ₂ O over 33.85 meters in drilling at Lemare."

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 May 30 Standard Lithium announced : "Standard Lithium retains BNP Paribas to lead Debt Advisory Services for first commercial Project."

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] ( 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 June 9 AVZ Minerals announced : " Confirmation of Registration of the Request for ICSID Arbitration Proceedings against the Democratic Republic of Congo....."

Upcoming catalysts include:

• 2023 - Any further 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 May 30, Global Lithium Resources announced : "Manna Ore sorting trial delivers 90% increase in lithium grade. Potential to expand total minable tonnes and head grade at Manna Lithium Project ." Highlights include:

• "..... Results indicate a 90% increase in lithium head grade with single pass trial.
• Test run elevated head grade from 0.88% Li2O to 1.67% Li2O.
• Iron (Fe 2O 3) reduction of 93% to 0.4% Fe.
• Further test work planned to refine and improve the process."

On June 14, Global Lithium Resources announced : " Drilling underway at Marble Bar Lithium Project." Highlights include:

• "Up to 20,000m of exploration drilling underway at MBLP.
• Heritage surveys completed across Pegmatite Corridor 2 and Twin Veins targets at the Marble Bar Lithium Project (MBLP).
• Expanding the lithium resource at MBLP is a key focus of this year’s exploration campaign.
• Ground IP program at Twin Veins Gold Project due to commence in June 2023."

On June 16, Global Lithium Resources announced :

Land Access Agreement signed for Manna Lithium Project..... The Agreement sets the framework for Global Lithium to conduct Aboriginal heritage surveys to support ongoing exploration and pre-development work (in accordance with existing Exploration Licences) at the Manna Lithium Project.

On June 26, Global Lithium Resources announced : "Global Lithium to take 10% stake in Kairos via A$4m Share Placement."

On June 26, Global Lithium Resources announced : "Manna Lithium Project expansion of regional interests."

You can read a very recent Trend Investing article on Global Lithium Resources here .

European Lithium Ltd [ASX:EUR] ( EULIF )

On June 2, European Lithium Ltd. announced : "European Lithium signs binding term sheet with Obeikan for hydroxide plant in Saudi Arabia." Highlights include:

• "EUR and Obeikan Group have signed a binding term sheet to jointly develop and operate a lithium hydroxide processing plant in Saudi Arabia through an incorporated 50:50 Joint Venture (JV).
• EUR and Obeikan Group to proceed with incorporation of JV company (JVco) and entry into shareholders agreement (SHA).
• Processing plant capital investment will be fully funded through JV.
• Processing plant expected to deliver significant Opex and Capex savings.
• EUR will grant JVco exclusive right to purchase spodumene mined from the Wolfsberg Lithium Project.
• Development conditions include EUR and Obeikan entering into the SHA, agreeing contributions to the JVco and relevant approvals being obtained by the parties.
• Binding lithium offtake agreement with BMW to be assigned to JVco.
• DRA Global (DRA) will be appointed to update DFS to incorporate expected Opex and Capex savings from the JV.
• NASDAQ listing of Critical Metals Corp. progressing to completion with final SEC approvals expected to be obtained by the end of June 2023 ."

On June 21, European Lithium Ltd. announced : " European Lithium acquires Austrian Lithium Projects after DD sampling shows 3.98% Li2O."

Upcoming catalysts include:

• 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 May 31 Savannah Resources announced : "Positive DIA for Barroso Lithium Project. Barroso Lithium Project receives positive Environmental Impact Statement [DIA] from Regulator." Highlights include:

• "Savannah has received a positive DIA from APA for its revised design and optimisation for the Barroso Lithium Project, which encompasses feedback from stakeholders to further minimise the environmental impact of the Project.
• This represents a major milestone for the Project and is the first positive DIA for a lithium raw material supply project in Portugal, while implementing European best ESG practices.......
• The positive DIA allows the Company to progress key economic studies on the Project, including the publication of an updated Scoping Study expected in early H2 2023, and the recommencing of the Definitive Feasibility Study."

On June 12 Savannah Resources announced : "Barroso Lithium Project: New Scoping Study. New Scoping Study for the Barroso Lithium Project demonstrates Outstanding Economics: Post-tax NPV of US$953 million, IRR of 77% and 1.3 year Payback." Highlights include:

• "The new Scoping Study reconfirms the Project has the potential to be a major European producer of spodumene concentrate, the industry's standard lithium raw material. Located in close proximity to the emerging European battery supply chain, including a number of planned lithium chemical plants, the Project has the potential to be a domestic source of conventional, low cost, low carbon, lithium raw material for the region.
• Demonstrates excellent Project economics, with the potential to deliver substantial shareholder value: Base Case post -tax NPV ₈ of US$953 million, IRR of 77% and payback period of 1.3 years. Life of Mine ('LOM') revenue of US$4.2 billion. LOM EBITDA of US$2.8 billion. LOM post-tax free cash flow of US$1.7 billion. Based on average 5.5% grade spodumene concentrate LOM price of US$1,464/t vs. current 6% grade spot prices of US$3,500/t.
• Project considered by independent consultants to be of low technical risk with open pit mining and conventional processing combining Dense Media Separation ('DMS') and a flotation circuit utilising environmentally friendly reagents to produce a 5.5% Li ₂ O grade spodumene concentrate: Resource of 28Mt at 1.05% Li?O with a lithia content of 293,400 tonnes.....over 14 years. LOM production of 2.6Mt of 5.5% Li ₂ O grade spodumene concentrate at an average annual production rate of ~191,000tpa. Average LOM C1 Operating Cost of US$292/t of concentrate (including by-product credits). Initial CAPEX of US$236 million (excluding contingencies) which includes US$40 million for community related measures.
• Project is likely to have a significant cost advantage due to its close proximity to the local ceramics market where a large portion of the tailings could be sold as Ceramic By-products.
• Project scheduled to commence producing concentrate in mid-2026 subject to completion of DFS and project financing."

Upcoming catalysts include:

• 2024 - DFS due.
• Mid 2026 - Traget to commence spodumene production at the Barroso Lithium Project.

You can read the recent Trend Investing article here at GBp 3.90 or the Blog (no paywall) here a month later at GBp 4.70. Quoted from the Blog - "Analyst rating is a 'buy' with a price target of GBp 22.60 , representing 380% (4.8x) potential upside."

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

On June 9, European Metals Holdings announced : " Land secured for Cinovec Lithium Plant." Highlights include:

• "Cinovec Project Company, Geomet s.r.o. secures ownership of Dukla industrial site for construction of the Cinovec lithium plant .
• Dukla Plant site will include ore beneficiation plant and battery-grade lithium plant.
• Geomet s.r.o., owner of 100% of the Cinovec Project, to become sole owner/user of site."

Upcoming catalysts include:

• Q4, 2023 - DFS.

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 June 1, Galan Lithium announced :

Strategy: low-cost development to lithium concentrate in Argentina..... All components of the initial DFS have now been delivered and the project team is finalising opex and capex costings and documentation, with an ASX review imminent. As previously announced in the March 2023 Quarterly Activities Report, the DFS was separated into two phases. The initial DFS focuses on the first production phase only, being 4 ktpa LCE equivalent (Lithium Chloride Concentrate production), as per production permits which are due for approval later this month. The DFS optimisation work being conducted by the team continues and will culminate in the release of a phase 2 DFS in August 2023, addressing full 20ktpa LCE production rates.

Upcoming catalysts include:

• August 2023 - P hase 2 DFS (20ktpa LCE)

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 June 15 Lake Resources NL announced : " Lake Resources Provides JORC update on its Flagship Kachi Project. Kachi M&I Resource Increases to 2.9 million tonnes lithium carbonate equivalent with 5.2 million tonnes inferred resource." Highlights include:

• "..... The lithium grade of the Measured Resource (0-400 m) across the salar is 210 mg/L lithium, the Indicated Resource immediately southeast is 174 mg/L lithium, and the surrounding Inferred Resource (0-400 m) has a concentration of 200 mg/L lithium......

On June 17 Lake Resources NL announced :

Resolution of CEO matter pertaining to prior company. Lake Resources NL (ASX: LKE; OTC: LLKKF) (“Lake” or the “Company”) notes that CEO David Dickson and the U.S. Securities and Exchange Commission (“SEC”) have resolved a legacy matter involving issues relating to the 2018 merger between McDermott International, Inc., (“McDermott”), a company where Mr. Dickson served as CEO prior to joining the Company, and Chicago Bridge & Iron Co.

On June 19 Lake Resources NL announced : " Lake Resources announces two phase development to targeted production of 50Ktpa battery grade lithium carbonate." Highlights include:

• " Phased approach of 2 x 25Ktpa plants de-risks project execution and accelerates time to first lithium production with clear milestones.
• Confirmed ~37% increase in Measured higher grade resource, supporting 25+ years of supply life. Potential Kachi resource expansion to 8.1 million tonnes LCE supports further expansion opportunities.
• Adjusted timing on DFS, consistent with increasing resource base and outcome of project reassessment, to allow for greater project definition, optimal power solution and infrastructure considerations.
• Proven extraction and reinjection without significant disruption to water tables.
• Strong technical and leadership expertise delivering high quality project pathway."

On June 19 Lake Resources NL announced : " Investor operational update....." Page 17 states: "First Lithium Carbonate Q3 2027."

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

Century Lithium Corp. is focused on developing its Clayton Valley Lithium Project in west-central Nevada. Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting.

On May 25 Century Lithium reported :

Century Lithium reconfirms production of battery grade purity lithium carbonate and provides update on Feasibility Study......Major areas of the Study are completed and estimates for capital and operating cost estimates received, including those for the chlor-alkali plant portion of the Project. Wood is in the process of consolidating the estimates and reviewing them with Century, along with evaluating further optimization and opportunities for cost reductions. This optimization work will extend beyond the previously estimated mid-year completion date for the Study.

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).

May 31 Frontier Lithium announced : "Frontier Lithium PFS demonstrates pre-tax NPV us$ 2.6 billion." Highlights include:

• "Life of Project Cash Flow (unlevered) of US$8.07 billion over 24-year total project life.
• Total initial capital expenditure estimate of US$468 million for the technical grade concentrator and expansion capital of US$576 million for the chemical grade concentrator and chemical plant with a contingency of 20% included.
• Sustaining Capital of US$90 million.
• Pre-tax Net Present Value at an 8% base case discount rate (“NPV ₈ ”) of US$2.588 billion and Pre-Tax Internal Rate of Return (“IRR”) of 28.6%.
• Post-tax NPV ₈ of US$1,739 million and IRR of 24.1%.
• Post-tax net “undiscounted” Cash Flow (before initial capital expenditures) of US$5.98 billion.
• Annual Average EBITDA of US$251.3 million.
• Chemical plant producing 12,520 tonnes of battery-quality Lithium Hydroxide Monohydrate (LiOH-H ₂ O) per year with an average selling price of US$22,000 per tonne and a 7,360 tonnes of battery-quality Lithium Carbonate per year with an average selling price of US$20,500 per tonne.
• PAK and Spark deposits are open along strike and to depth.
• All-in cash costs of US$7,433 per tonne of LCE.
• After-Tax Pay Back of Capital Expenditures is 4.9 years after the start of commercial operations."

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

Patriot Battery Metals [TSXV:PMET][ASX:PMT] ( PMETF )

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

On June 4 Patriot Battery Metals announced : "Patriot provides operational update on the Work Programs at the Corvette Property, Quebec, Canada." Highlights include:

• "The Province of Quebec has requested exploration companies to cease field activities due to very high forest fire risk over a large part of the province which includes the Corvette Property.
• The Company has ceased field exploration operations but will continue to process core from the drill holes completed to date and advance the camp construction activities in respect of the government requirements.
• The Company will continue to monitor the situation and provide further updates as it evolves."

On June 14 Patriot Battery Metals announced : "Patriot drills 127.7 m at 1.78% Li2O and 95.3 m at 1.62% Li2O at the CV5 pegmatite, Corvette Property, Quebec, Canada." Highlights include:

• "Additional high-grade intersection at the Nova Zone affirming interpreted 1.1 km strike length:
  • 95.3 m at 1.62% Li ₂ O (137.3 m to 232.6 m), including 47.6 m at 2.09% Li ₂ O, or 4.1 m at 4.44% Li ₂ O (CV23-148).
• Other significant intercepts:
  • 127.7 m at 1.78% Li ₂ O (61.9 m to 189.5 m), including 50.1 m at 2.43% Li ₂ O (CV23-160A).
  • 44.2 m at 0.99% Li ₂ O (221.5 m to 265.8 m), including 15.3 m at 2.58% Li ₂ O (CV23-174).
• Core sample assay results for 12 drill holes completed during the 2023 winter drill program remain to be reported.
• The Company remains on target for a July 2023 announcement for the initial mineral resource estimate at CV5, which will include all drill holes completed through April 17, 2023 (i.e., the recently completed winter drill program)."

On June 23 Patriot Battery Metals announced :

Patriot provides operational update on the Work Programs at the Corvette Property, Quebec, Canada. The wildfires continue to impact Quebec resulting in suspension of all site based work activities on the Company’s wholly owned Corvette Property (the “Property” or “Project”), located in the Eeyou Istchee James Bay region of Quebec. All personnel have been demobilised until the situation improves. The wildfires are having minimal direct impact on the property however helicopters assigned to the Project have been requisitioned by the government for the fire fighting activities in the province......

Investors can read the Trend Investing article here .

Latin Resources Ltd [ASX:LRS]

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 45.2Mt @ 1.34% Li2O at the Colina deposit.

On June 7, Latin Resources Ltd announced : "Colina Lithium deposit resource upgrade imminent all assay results received, on target for June 2023 release."

On June 8, Latin Resources Ltd announced : "Latin increases Cornerstone investment in Solis Minerals to 17.79%." Highlights include:

• " Latin acting as a cornerstone investor, has committed to invest $3m into Solis Minerals Limited at $0.55 per share as part of Solis’s oversubscribed $8m capital raise, announced today.
• Latin’s interest will increase by 4.66% to 17.79% and will now hold ~13,392,703 shares in Solis (post completion).
• Funds raised will be applied towards advancing exploration of Solis’s recently acquired Jaguar Lithium Project.
• The Jaguar Lithium Project contains significant prospective pegmatites and Latin is confident that Solis will deliver on the full potential of the project. "

On June 20, Latin Resources Ltd announced : "241% increase for the Colina Mineral Resource. JORC Mineral Resource Estimate total of 45.2Mt @ 1.34% Li2O, including 30.2Mt @ 1.4% Li2O Measured + Indicated. Colina JORC MRE now comprises 0.4Mt@ 1.3% Li 2O Measured + 29.7 Mt @ 1.4% Li2O Indicated + approximately 15.0Mt @ 1.2% Li 2O Inferred." Highlights include:

• " .... The updated MRE reflects higher lithium tonnage and grade with 67%, or 30.2Mt @ 1.4% Li2O of the total resource now sitting in the Measured + Indicated category, providing strong support for a positive Preliminary Economic Assessment (“PEA”), scheduled for completion by SGS in the third Quarter of 2023.
• JORC classification by independent resource consultants SGS Geological Services (“SGS”), now includes 0.43Mt @ 1.34% Li 2O Measured + 29.7Mt @ 1.37% Li 2O Indicated + approximately 15.0Mt @ 1.22% Li 2O Inferred.
• This upgraded resource of 45 million tonnes represents a Lithium Carbonate Equivalent (“LCE”) of 1,477,000 tonnes.
• The Colina Deposit remains open at depth and along strike to the southwest, where systematic step-out drilling is ongoing, highlighting the significant potential and giving the Company confidence that one large, continuous mineralised lithium system exists in the immediate project area.
• The Colina Deposit is expanding into a much larger scale exploration project than expected, with the Colina Deposit footprint now increased to a strike length of over 2.0km. The aggressive 65,000m drilling campaign planned for 2023 is continuing, with all eight drilling rigs on site testing the Colina extension and new regional targets. "

You can read the 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 June 19, Lithium Power International announced :

A$30 million cash sale agreed for Western Lithium Ltd. Lithium Power International Limited (ASX: LPI) (LPI or the Company) is pleased to announce that it has entered into a binding agreement to sell its wholly-owned Australian subsidiary, Western Lithium Ltd (WLI) (100% owner of a number of tenements, including through its subsidiary, CMC Lithium Pty Ltd, in Western Australia) to Albemarle Lithium Pty Ltd (an Australian subsidiary of Albemarle Corporation). The sale agreement is an all cash-for-shares transaction amounting to AUD$30,000,000 (thirty million Australian dollars), subject to a customary price adjustment to reflect WLI's liabilities as at completion. Out of the total consideration AUD$29,000,000 will be received at completion while the balance of AUD$1,000,000 will only be received if certain tenement applications are granted within 18 months of completion. The transaction is not subject to any conditions precedent.

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

On June 1, American Lithium Corp. announced :

American Lithium arranges $7,160,000 Strategic Investment in Surge Battery Metals..... to be completed by way of non-brokered private placement (the “Private Placement”) of up to 17,900,000 units (the “Units”) of Surge at a price of $0.40 per Unit. Each Unit will consist of one common share and one share purchase warrant exercisable for a period of three years at a price of $0.55 per share. Upon completion of the Private Placement, American Lithium is expected to own approximately 9.9% of Surge’s issued and outstanding common shares on an undiluted basis.

On June 2, American Lithium Corp. announced : "American Lithium announces financial highlights for year ended February 28, 2023 and operating highlights for the quarter."

On June 7, American Lithium Corp. announced :

American Lithium reaches Definitive Agreement to spin out Macusani Uranium deposit into an independent public company....

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.

No news for the month.

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 May 25, E3 Lithium Ltd. announced : "E3 Lithium files first quarter 2023 financial statements and MD&A."

On June 8, E3 Lithium Ltd. announced : "E3 Lithium closes Bought Deal Public Offering."

On June 14, E3 Lithium Ltd. announced :

E3 Lithium outlines key performance indicators and provides field pilot plant and corporate update.....E3 Lithium began receiving pilot equipment to site in early June in advance of mechanical construction, planned for late June/early July. Once mechanical and electrical construction is complete, the Company will move into commissioning set to begin later in July.

You can read the company's latest presentation here .

Nevada Lithium Corp. [CSE:NVLH] ( NVLHF )

Nevada Lithium has an arrangement to own 100% of the Bonnie Claire Project in Nevada, USA; with an Inferred Resource of 18.68 million tonnes LCE.

No news for the month.

Rio Tinto [ASX:RIO] [LN:RIO] ( RIO )

No lithium related news for the month.

Lithium South Development Corp. [TSXV:LIS] ( OTCQB:LISMF)

On June 1, Lithium South Development Corp. announced :

Lithium South identifies potential critical reagent source.....Work to date has identified a potential water source near the 100% Company owned Hombre Muerto North Lithium Project (HMN Li Project), which is currently under development. Water is a critical reagent for the production of lithium. In order to secure a reliable and sustainable water supply, the Company acquired the Sophia I, II and III claim blocks for this purpose. Located approximately 10 kilometers north of the HMN Li Project, the claim group is in close proximity to any future lithium production development.

On June 15, Lithium South Development Corp. announced :

Lithium South enhanced resource update......Initial results have been received and all remaining results are anticipated by mid-July. Shortly thereafter, the resource update process will be completed by the brine resource specialist team of Groundwater Insight, Inc......

You can view a recent Trend Investing Lithium South CEO interview here .

Alpha Lithium [NEO: ALLI] (formerly TSXV: ALLI) [GR:2P62] ( OTCPK:APHLF )

On June 20, Alpha Lithium announced :

Alpha Lithium files technical report for highly prospective Hombre Muerto Project in Argentina.....The fully-funded drilling program will engage at least four drilling rigs, all of which will be redeployed from the Tolillar exploration program. As defined by Groundwater Insight, the drilling campaign is expected to require just over US$11 million, including contingency funds; however, in keeping with previous drilling campaigns, the team at Alpha believes it can deliver this program well below the costs projected in the Report. The Company currently has more than $30 million of cash on hand.

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.

On June 1, Avalon Advanced Materials announced : " Avalon reports drill results from 2022-2023 exploration program at Separation Rapids." Highlights include:

• " SR23-85: 1.56% Li2O over 47.71 metres (“m”).
• SR23-91: 1.06% Li2O over 10.38m and 1.66% Li2O over 7.01m and 1.36% Li2O over 10.61m.
• SR23-92: 1.47% Li2O over 3.42m and 1.14% Li2O over 4.35m and 1.49% Li2O over 4.52m ."

On June 15, Avalon Advanced Materials announced :

Avalon announces C$63M strategic investment by Sibelco to create a vertically integrated lithium strategic partnership in Ontario. As part of its strategic transformation to become a leading North American vertically integrated lithium producer, Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce the signing of a binding term sheet to create a new joint venture with SCR-Sibelco NV ("Sibelco"), a global leader in materials solutions. Avalon has issued to Sibelco, on a non-brokered private placement basis, 109,692,764 common shares of Avalon ("Common Shares") for aggregate proceeds of C$10,000,000 and a secured convertible debenture in the principal amount of C$3,000,000 (the "Debenture") (collectively, the "Private Placement"). The C$63-million transaction results in Antwerp-based Sibelco owning approximately 19.9% of the issued and outstanding Common Shares, and provides Avalon with a first tranche of funding to advance the Company's lithium production and processing goals across its suite of lithium mineral assets, led by Separation Rapids in northwestern Ontario. This new joint venture is expected to accelerate Avalon's core business objective of building a mid-stream lithium-hydroxide processing facility in Ontario.

On June 19, Avalon Advanced Materials announced :

Avalon completes purchase of industrial site in Thunder Bay as key next step in becoming Ontario's first vertically integrated lithium producer.....

Snow Lake ( 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

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 1.16% Li2O.

On June 8, Essential Metals announced :

New phase of exploration drilling commences at Pioneer Dome Lithium Project.....a ~3,000m Reverse Circulation (RC) drilling programme to test three main target areas at the Pioneer Dome Lithium Project in WA is now underway with drilling expected to be completed by mid-July and assays to be available by end-August.....

Green Technology Metals [ASX: GT1]

Green Technology Metals [ASX:GT1] ("GT1") has several very promising lithium projects near Thunder Bay in Ontario, Canada.

On June 1, Green Technology Metals announced : "Continued high-grade lithium results returned at Root Bay." Highlights include:

• " ..... Root Bay’s maiden mineral resource estimate will add to the current 14.4Mt JORC Resource base across GT1’s tenure.
• New assay results from Root Bay maiden drilling demonstrate the high-grade quality of the pegmatites and includes downhole drill intercepts near surface and down dip of: RB-23-152: 16.8m @ 1.57% Li2O from 152.4m. RB-23-083: 16.5m @ 1.55% Li20 from 254.6m. RB-23-156: 15.4m @ 1.65% Li20 from 37.1m. RB-23-040: 7.8m @ 1.61% Li20 from 216.9m. RB-23-042: 5.9 @ 1.59% Li20 from 5.6m. RB-23-148: 5.9m @ 1.46% Li20 from 257.7m.
• 13 stacked lithium bearing pegmatites along an initial 1.3km trend have been drilled to over 200m depth.
• Exploration will focus on highly prospective areas of 1.5km East and 1.7km West along the trend of the current Root Bay deposit.
• Two diamond drill rigs have been mobilised to Root Bay to commence Infill drilling starting 6 June 2023 in parallel to a large-scale field exploration program to define further drill targets ."

On June 7, Green Technology Metals announced : "22.5Mt Mineral Resource base across Ontario Lithium Projects." Highlights include:

• " High grade Inferred Maiden MRE of 8.1Mt at 1.32% Li20 over the Root Bay Deposit, part of the 20km-wide Root Lithium Project in Ontario, Canada.
• Total of 22.5 million tonnes across GT1’s 100% owned lithium deposits.
• Further Mineral Resource growth anticipated along trend at the Root Bay Deposit, and across the larger Root project area.
• Resource definition drilling now underway at Root Bay to test open mineralisation trends and add to spodumene resource base.
• Field exploration has commenced over an expanded untested exploration area at Root, to identify additional priority drill targets ."

On June 15, Green Technology Metals announced :

Settlement of a$20m strategic investment and cleansing statement..... at a price of A$0.92 per share to LGES in respect to the terms of the Subscription agreement.

Winsome Resources Limited [ASX:WR1] [FSE:4XJ] ( WRSLF )

On June 5, Winsome Resources announced : " Operational update on James Bay Work Program." Highlights include:

• " At the request of the Province of Quebec the Company has ceased field exploration activities due to a very high danger of forest fires.
• The Company has ceased drilling and field activities but will continue with core processing from completed drill holes.
• The Company will provide further updates as they become available ."

For further details see:

Lithium Junior Miners News For The Month Of June 2023