Uncategorized
A Lithium M&A Frenzy Could be on the Cards as Cashed Up Producers Eye the Next Big Thing
Pilbara Minerals accepts its latest pre-auction bid on the BMX totalling US$7,100/dmt Bulletin Resources identifies more than 50 new pegmatite … Read…
- Pilbara Minerals accepts its latest pre-auction bid on the BMX totalling US$7,100/dmt
- Bulletin Resources identifies more than 50 new pegmatite targets at the Ravensthorpe Lithium Project
- Sayona develops a transport solution for its North American Lithium (NAL) operation with a Quebec rail operator
All your lithium news, Tuesday October 18.
Another good day for lithium stocks as homegrown success story, Pilbara Minerals (ASX:PLS), accepts its latest pre-auction bid for a spodumene cargo ahead of the tenth scheduled digital auction on the Battery Material Exchange (BMX).
A strong response was received for a shipment of 5,000dmt grading 5.5% , which was made available for sale to the group of registered BMX participants prior to the auction.
A pre-auction offer of US$7,100/dmt (SC5.5, FOB Port Hedland basis) has been accepted which PLS says equates to a price of roughly US$7,830/dmt on a SC6.0 CIF China equivalent basis after adjusting for lithia content on a pro rata basis and freight costs.
Luke Laretive, Seneca Financial Solutions’ CEO says the $14.29b market cap company could be looking at $1.1bn in free cash flow – “I can’t see them paying a dividend or buying back their own shares,” he explains in an interview with Stockhead.
Lithium producers could be looking to secure strategic assets
“That means we could see a bit of an M&A frenzy with producers like Pilbara, Allkem and IGO looking to secure strategic assets of scale and increase their exposure to sustained higher prices.
“There is a large valuation differential between ASX-listed lithium developers who expect to get into production next year vs those with longer term development time horizons,” he says.
“We see an opportunity these generally higher quality, more strategic and larger scale projects who might not get into production until 2024 or 2025, as the most likely M&A targets.
“Developers that fit this bill include Vulcan Energy Resources (ASX:VUL), Piedmont Lithium (ASX:PLL) and Liontown Resources (ASX:LTR).”
Here’s how lithium ASX stocks are tracking:
CODE | COMPANY | PRICE | % TODAY | % WEEK | % MONTH | % YEAR | MARKET CAP |
---|---|---|---|---|---|---|---|
TSC | Twenty Seven Co. Ltd | 0.0025 | 25% | 25% | 25% | -40% | $10,643,256 |
LRV | Larvottoresources | 0.26 | 18% | 27% | 13% | 0% | $9,137,150 |
TYX | Tyranna Res Ltd | 0.047 | 15% | 7% | -4% | 683% | $98,355,938 |
ENT | Enterprise Metals | 0.011 | 10% | 0% | -8% | -15% | $6,529,807 |
PAM | Pan Asia Metals | 0.4 | 10% | 8% | -11% | -12% | $53,602,290 |
SRI | Sipa Resources Ltd | 0.048 | 9% | 4% | -4% | -16% | $9,021,091 |
KGD | Kula Gold Limited | 0.039 | 8% | 8% | 95% | -20% | $12,103,629 |
RDT | Red Dirt Metals Ltd | 0.59 | 8% | -1% | -20% | -21% | $180,937,724 |
ARN | Aldoro Resources | 0.265 | 8% | 23% | 10% | -34% | $24,398,893 |
AZL | Arizona Lithium Ltd | 0.081 | 8% | 3% | -7% | 65% | $180,744,417 |
PGD | Peregrine Gold | 0.63 | 8% | 8% | 4% | 47% | $22,652,110 |
MQR | Marquee Resource Ltd | 0.058 | 7% | -2% | -17% | -21% | $17,151,349 |
WR1 | Winsome Resources | 0.365 | 7% | 3% | 14% | 0% | $45,938,758 |
ASN | Anson Resources Ltd | 0.3 | 7% | 0% | -22% | 253% | $328,939,493 |
LKE | Lake Resources | 1.0725 | 7% | 8% | 15% | 83% | $1,396,923,578 |
RGL | Riversgold | 0.048 | 7% | -2% | 26% | 104% | $34,933,547 |
LPI | Lithium Pwr Int Ltd | 0.56 | 6% | -2% | -8% | 47% | $207,336,597 |
WCN | White Cliff Min Ltd | 0.019 | 6% | -24% | -24% | 58% | $13,456,861 |
GT1 | Greentechnology | 0.8225 | 5% | 12% | 3% | 0% | $148,775,947 |
FRS | Forrestaniaresources | 0.195 | 5% | -9% | -15% | -52% | $7,920,091 |
ESS | Essential Metals Ltd | 0.51 | 5% | -6% | 2% | 143% | $120,455,901 |
1MC | Morella Corporation | 0.022 | 5% | 5% | -21% | -65% | $121,832,672 |
INR | Ioneer Ltd | 0.555 | 5% | -10% | -18% | -13% | $1,112,011,060 |
LRS | Latin Resources Ltd | 0.1025 | 5% | 3% | -15% | 144% | $193,265,142 |
GL1 | Globallith | 2.58 | 4% | 16% | -7% | 562% | $391,984,692 |
PLL | Piedmont Lithium Inc | 0.825 | 4% | -1% | -5% | -3% | $416,780,932 |
AS2 | Askarimetalslimited | 0.38 | 4% | 3% | 6% | 81% | $16,599,880 |
AGY | Argosy Minerals Ltd | 0.51 | 4% | 7% | -8% | 137% | $676,453,980 |
BNR | Bulletin Res Ltd | 0.13 | 4% | 0% | -4% | 86% | $36,573,888 |
ALY | Alchemy Resource Ltd | 0.026 | 4% | -21% | 13% | 100% | $29,326,906 |
G88 | Golden Mile Res Ltd | 0.027 | 4% | -4% | -18% | -44% | $5,319,334 |
EMS | Eastern Metals | 0.145 | 4% | 0% | 16% | 0% | $5,411,875 |
WML | Woomera Mining Ltd | 0.0145 | 4% | -37% | -19% | -27% | $9,615,663 |
KAI | Kairos Minerals Ltd | 0.029 | 4% | -3% | -28% | -9% | $54,994,618 |
LLL | Leolithiumlimited | 0.585 | 4% | 2% | -25% | 0% | $557,461,155 |
SYA | Sayona Mining Ltd | 0.2225 | 3% | -3% | -23% | 44% | $1,786,758,162 |
CHR | Charger Metals | 0.485 | 3% | 2% | -20% | 8% | $20,494,836 |
IR1 | Irismetals | 1.68 | 3% | 1% | -21% | 489% | $102,249,900 |
AX8 | Accelerate Resources | 0.035 | 3% | 0% | -5% | -20% | $9,195,603 |
CAI | Calidus Resources | 0.36 | 3% | -24% | -35% | -41% | $153,223,597 |
LTR | Liontown Resources | 1.7625 | 3% | 15% | 8% | 12% | $3,766,886,625 |
KZR | Kalamazoo Resources | 0.19 | 3% | -5% | -28% | -49% | $27,531,584 |
JRL | Jindalee Resources | 2.36 | 3% | 7% | -11% | -2% | $131,971,622 |
CXO | Core Lithium | 1.245 | 2% | 9% | -14% | 128% | $2,228,942,652 |
CY5 | Cygnus Gold Limited | 0.47 | 2% | 7% | 100% | 292% | $67,705,245 |
OCN | Oceanalithiumlimited | 0.48 | 2% | -7% | -27% | 0% | $15,756,750 |
BMM | Balkanminingandmin | 0.265 | 2% | -10% | -12% | -63% | $11,182,797 |
RAS | Ragusa Minerals Ltd | 0.28 | 2% | -11% | 10% | 124% | $36,028,472 |
CRR | Critical Resources | 0.061 | 2% | 0% | -21% | 118% | $89,411,259 |
KTA | Krakatoa Resources | 0.061 | 2% | -13% | -9% | -5% | $20,682,595 |
AOU | Auroch Minerals Ltd | 0.062 | 2% | -6% | -21% | -65% | $22,637,820 |
ZNC | Zenith Minerals Ltd | 0.32 | 2% | 3% | 8% | 36% | $108,600,118 |
AAJ | Aruma Resources Ltd | 0.068 | 1% | 5% | 5% | -18% | $10,516,421 |
MNS | Magnis Energy Tech | 0.345 | 1% | -4% | -25% | 1% | $329,912,704 |
GW1 | Greenwing Resources | 0.365 | 1% | -1% | 1% | 30% | $45,433,967 |
GLN | Galan Lithium Ltd | 1.2 | 1% | -2% | -12% | 15% | $360,915,309 |
PNN | Power Minerals Ltd | 0.45 | 1% | -4% | -34% | 18% | $32,109,880 |
MMG | Monger Gold Ltd | 0.45 | 1% | 7% | -10% | 58% | $17,817,800 |
AKE | Allkem Limited | 14.52 | 1% | 3% | -4% | 68% | $9,182,276,438 |
WES | Wesfarmers Limited | 44.71 | 1% | 1% | -1% | -16% | $50,285,814,733 |
IGO | IGO Limited | 15.115 | 0% | -1% | 8% | 66% | $11,412,025,942 |
ADV | Ardiden Ltd | 0.008 | 0% | 14% | 14% | -33% | $21,346,683 |
AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | 117% | $2,752,409,203 |
EUR | European Lithium Ltd | 0.079 | 0% | 1% | -10% | -15% | $110,618,895 |
MLS | Metals Australia | 0.043 | 0% | 0% | -14% | 8% | $26,102,556 |
QPM | Queensland Pacific | 0.175 | 0% | 17% | 9% | -33% | $302,796,622 |
PSC | Prospect Res Ltd | 0.096 | 0% | -4% | 4% | 322% | $44,376,908 |
RLC | Reedy Lagoon Corp. | 0.014 | 0% | 0% | -7% | -46% | $7,803,977 |
TON | Triton Min Ltd | 0.023 | 0% | 0% | -8% | -28% | $31,804,036 |
LEL | Lithenergy | 1.12 | 0% | -5% | -10% | 81% | $67,368,000 |
NMT | Neometals Ltd | 1.05 | 0% | -2% | -19% | 12% | $579,963,833 |
AM7 | Arcadia Minerals | 0.29 | 0% | -9% | 4% | 45% | $13,542,389 |
BYH | Bryah Resources Ltd | 0.023 | 0% | -4% | -21% | -55% | $6,422,830 |
DTM | Dart Mining NL | 0.086 | 0% | 10% | -7% | -25% | $13,313,674 |
FG1 | Flynngold | 0.105 | 0% | -5% | 0% | -30% | $6,726,410 |
GSM | Golden State Mining | 0.038 | 0% | -5% | -21% | -72% | $4,446,540 |
IMI | Infinitymining | 0.22 | 0% | -4% | -10% | 0% | $13,886,125 |
MMC | Mitremining | 0.175 | 0% | 3% | -3% | -22% | $4,739,893 |
SHH | Shree Minerals Ltd | 0.008 | 0% | -11% | -20% | -27% | $9,907,895 |
TMB | Tambourahmetals | 0.14 | 0% | -13% | -18% | -30% | $5,766,964 |
TEM | Tempest Minerals | 0.032 | 0% | 0% | -14% | 52% | $16,152,518 |
MTM | Mtmongerresources | 0.12 | 0% | -8% | -14% | -20% | $4,501,204 |
SCN | Scorpion Minerals | 0.068 | 0% | -3% | -15% | 10% | $22,692,021 |
AZI | Altamin Limited | 0.08 | 0% | -5% | -9% | -3% | $31,337,340 |
AVW | Avira Resources Ltd | 0.0035 | 0% | -13% | -22% | -42% | $7,415,765 |
RMX | Red Mount Min Ltd | 0.005 | 0% | -17% | -17% | -50% | $8,211,819 |
MRR | Minrex Resources Ltd | 0.052 | 0% | -9% | -7% | 189% | $56,327,229 |
SRZ | Stellar Resources | 0.013 | 0% | -7% | -13% | -61% | $13,060,202 |
LSR | Lodestar Minerals | 0.0055 | 0% | -8% | -15% | -50% | $9,561,405 |
NWM | Norwest Minerals | 0.028 | 0% | -32% | -40% | -67% | $6,219,007 |
AOA | Ausmon Resorces | 0.007 | 0% | -13% | -13% | 0% | $6,001,025 |
VKA | Viking Mines Ltd | 0.007 | 0% | 0% | -13% | -63% | $7,176,809 |
IPT | Impact Minerals | 0.007 | 0% | -7% | -7% | -52% | $17,369,594 |
VMC | Venus Metals Cor Ltd | 0.14 | 0% | -7% | -20% | -24% | $22,411,016 |
EVR | Ev Resources Ltd | 0.025 | 0% | -11% | -19% | -24% | $23,149,602 |
WC8 | Wildcat Resources | 0.033 | 0% | 3% | -18% | -42% | $21,508,500 |
CZL | Cons Zinc Ltd | 0.028 | 0% | 27% | 27% | -18% | $12,961,801 |
MXR | Maximus Resources | 0.045 | 0% | -2% | -6% | -45% | $14,350,760 |
MM1 | Midasmineralsltd | 0.19 | 0% | -7% | -5% | 0% | $10,855,035 |
M2R | Miramar | 0.099 | 0% | -1% | -6% | -51% | $6,354,480 |
WMC | Wiluna Mining Corp | 0.205 | 0% | 0% | 0% | -77% | $74,238,031 |
ZEO | Zeotech Limited | 0.039 | 0% | -3% | -20% | -54% | $62,966,781 |
FTL | Firetail Resources | 0.2 | 0% | -5% | -23% | 0% | $12,356,500 |
LNR | Lanthanein Resources | 0.039 | 0% | 3% | -28% | 117% | $37,550,197 |
DAL | Dalaroometalsltd | 0.135 | 0% | 0% | 0% | -45% | $4,033,125 |
TUL | Tulla Resources | 0.45 | 0% | 3% | -7% | -14% | $72,097,592 |
PLS | Pilbara Min Ltd | 4.76 | -1% | -9% | 4% | 129% | $14,296,881,258 |
DRE | Dreadnought Resources Ltd | 0.099 | -1% | 8% | -14% | 168% | $304,253,355 |
MIN | Mineral Resources. | 68.21 | -1% | -4% | 3% | 57% | $13,079,658,276 |
EMH | European Metals Hldg | 0.72 | -1% | 8% | -15% | -50% | $87,373,472 |
RIO | Rio Tinto Limited | 92.59 | -2% | -5% | 0% | -7% | $34,946,294,386 |
VUL | Vulcan Energy | 6.18 | -2% | -12% | -23% | -47% | $901,579,043 |
AML | Aeon Metals Ltd. | 0.027 | -2% | -4% | -10% | -51% | $30,069,346 |
LIT | Lithium Australia | 0.053 | -2% | 0% | -10% | -56% | $65,860,733 |
NVA | Nova Minerals Ltd | 0.685 | -2% | 1% | -12% | -60% | $128,562,893 |
INF | Infinity Lithium | 0.205 | -2% | 11% | 17% | 37% | $87,506,952 |
STM | Sunstone Metals Ltd | 0.031 | -3% | -9% | -23% | -47% | $83,086,285 |
TKM | Trek Metals Ltd | 0.058 | -3% | 5% | -21% | -57% | $18,636,609 |
LRD | Lordresourceslimited | 0.28 | -3% | -3% | 8% | 0% | $9,652,540 |
AUN | Aurumin | 0.08 | -4% | -17% | -27% | -60% | $10,400,492 |
LIS | Lisenergylimited | 0.47 | -4% | -8% | -18% | -79% | $81,297,952 |
EFE | Eastern Resources | 0.041 | -5% | 3% | 32% | 8% | $45,185,495 |
EPM | Eclipse Metals | 0.02 | -5% | -9% | -13% | -57% | $42,509,394 |
LPD | Lepidico Ltd | 0.018 | -5% | -5% | -38% | -30% | $125,061,633 |
A8G | Australasian Metals | 0.26 | -5% | -9% | -12% | -60% | $11,321,886 |
THR | Thor Mining PLC | 0.0085 | -6% | -6% | -19% | -47% | $9,916,186 |
DAF | Discovery Alaska Ltd | 0.034 | -6% | -45% | -55% | -13% | $8,072,449 |
QXR | Qx Resources Limited | 0.063 | -6% | -28% | 103% | 250% | $59,084,776 |
RAG | Ragnar Metals Ltd | 0.025 | -11% | -14% | -34% | -42% | $10,617,177 |
XTC | Xantippe Res Ltd | 0.008 | -11% | 0% | -11% | 300% | $73,307,069 |
TKL | Traka Resources | 0.006 | -14% | 0% | -14% | -57% | $4,821,422 |
The S&P/ASX 200 lifted some 1.58% today taking with it a whole bunch of lithium companies – 60 finished in the green, 46 fell flat and 25 tumbled into the red zone.
Who else has got news out?
BULLETIN RESOURCES (ASX:BNR)
BNR has identified more than 50 new pegmatite targets by Light Detection and Ranging (LIDAR) as well as high-resolution aerial imagery, demonstrating a high likelihood of additional discoveries along the Eastern Pegmatite Trend at the Ravensthorpe Lithium Project.
The survey has identified numerous new pegmatite targets which have been unknown until now and lie along strike of the known spodumene bearing Big and Deep Purple pegmatites where rock chip grades up to 7.04 %Li2O were collected.
Importantly, the potential for a third pegmatite trend west of the Western Pegmatite trend has been reinforced.
Drilling of the Eastern Pegmatite Trend remains a priority for Bulletin and works to secure regulatory approvals are progressing.
SAYONA MINING (ASX:SYA)
Sayona has developed a transport solution for its North American Lithium (NAL) operation with a Quebec rail operator awarded the contract to deliver the spodumene to port.
Under the agreement, Solurail Logistique, will be responsible for the transportation of lithium in La Coren to the Port of Trois-Rivieres for delivery to customers.
The C$43 million contract includes the rental of 110 rolling stock with the equipment to be made available for the restart of production at NAL in the first quarter of 2023.
LAKE RESOURCES (ASX:LKE)
LKE says it has strengthened its team with the appointment of Scott Munro to a newly created position of Senior Vice President.
“This role will lead Technology engagement for the company as it transitions towards development of resources and will support the continuing evolution of Strategy and Risk processes in support of long-term value creation for stakeholders,” Lake executive chairman Stuart Crow says.
“This is part of Lake’s aspirational target to produce 100,000 tpa of high purity lithium ; underpinning Lake ’s aim to become a leading lithium producer globally.”
CHARGER METALS (ASX:CHR)
Surveys at Lake Johnston are “progressing well” CHR managing director David Crook says, as the company looks forward to having its program of works (PoW) approved shortly and drilling starting shortly after.
Drilling will begin on the Medcalf spodumene pegmatite swarm where a recent flora survey has wrapped up and a heritage protection survey is confirmed for the final week of October.
A program of up to 40 reverse circulation drill holes is planned to test the Medcalf lithium prospect spodumene-bearing pegmatites – which comprises around 20 dykes that outcrop in an area 800m long, with a 300m wide corridor.
Meanwhile, target generation work continues at the Mount Day prospect where fieldwork, initially undertaken in 2016 identified lithium-enriched pegmatites, over an area of 10 km with numerous outcropping pegmatite dykes of LCT affinity.
TYRANNA RESOURCES (ASX:TYX)
Diamond drilling has kicked off at the Muvero prospect within the Namibe Lithium Project in Angola, Africa across six holes for 1,100m with plans to provide critical information that will enable optimised follow-up drilling.
TYX says it hopes these initial results will be incorporated into a subsequent resource drill-out if the above occurs.
LITHIUM PLUS MINERALS (ASX:LPM)
LPM has received high-grade lithium results from a phase-I drilling program at the Lei prospect within its flagship Bynoe Project.
A program of 13 holes were completed near the historic discovery hole which previously intersected 12m at 1.43% Li2O from 122m.
These assays returned significant extensional intersections of high-grade spodumene mineralisation including 11m at 1.48% Li2O from 196m and 17.8m at 1.40% Li2O from 217m, 11m at 1.03% Li2O from 173m and 13m at 1.31% Li2O from 192m.
The potential for considerable volume of mineralised pegmatite body has been identified and LPM says it will be followed up in phase-II drilling at Lei from late October.
The RC rig has now been relocated to the Jenny’s and Perseverance prospects to test a number of outcropping pegmatites.
The post Eye on Lithium: A lithium M&A frenzy could be on the cards as cashed up producers eye the Next Big Thing appeared first on Stockhead.