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S&P’s Aussie Analyst Delivers Real Kick to Oversupply Pundits
This week has been marked by varying opinions about the future of lithium with investment banks who think the market … Read More
The post Eye on Lithium:…
This week has been marked by varying opinions about the future of lithium with investment banks who think the market will be oversupplied clashing with the likes of MinRes boss Chris Ellison who said there was “way more demand than supply”.
S&P Global has come in on the side of the bulls, saying that trade frictions, logistical challenges and sustainability concerns are likely to impact on raw material supply chains.
Combine this with its expectation that demand from makers of light passenger vehicles for lithium-ion batteries is estimated to accelerate to 3.4 terrawatt hours by 2030 (up from just 290 gigawatt hours in 2021, and its clear why its Auto Supply Chain & Technology Group believes that lithium supply deficits are very likely in the medium term.
This is particularly true in Europe where the European Parliament and European Council has provisionally agreed that all new vehicles registered in Europe must be zero emissions from 2035.
Along with rising prices for other battery metals, this will drive component and EV prices up.
The financial information firm noted that development chains for critical battery metals – including lithium – are lengthy and complex with countries making belated attempts to build localised supply chains to address logistical issues with Chinese suppliers and geopolitical concerns brought about by Russia’s invasion of Ukraine.
However, China is expected to remain the dominant global supplier for battery materials for some time.
Benchmark Mineral Intelligence chief executive officer Simon Moores has also come out swinging in favour of a lithium supply deficit.
Lithium analysis from big banks again is wrong and misplaced. Q1 is always soft in China
Cutting capacity? We heard that before earlier in the year and it never happened
While we no one can predict the future, those in the industry can make sensible judgements on the present
— Simon Moores (@sdmoores) November 17, 2022
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| VKA | Viking Mines Ltd | 0.01 | 25% | $8,202,067 |
| MLS | Metals Australia | 0.05 | 14% | $26,709,592 |
| LEL | Lithenergy | 0.945 | 9% | $52,330,500 |
| RLC | Reedy Lagoon Corp. | 0.013 | 8% | $6,689,123 |
| SRZ | Stellar Resources | 0.013 | 8% | $12,055,571 |
| IMI | Infinitymining | 0.3075 | 8% | $17,988,844 |
| WC8 | Wildcat Resources | 0.03 | 7% | $18,249,636 |
| AAJ | Aruma Resources Ltd | 0.076 | 7% | $11,144,267 |
| LRS | Latin Resources Ltd | 0.1175 | 7% | $220,342,360 |
| LNR | Lanthanein Resources | 0.035 | 6% | $31,773,244 |
| STM | Sunstone Metals Ltd | 0.036 | 6% | $88,959,178 |
| IPT | Impact Minerals | 0.009 | 6% | $21,091,650 |
| RAS | Ragusa Minerals Ltd | 0.185 | 6% | $23,138,176 |
| AZI | Altamin Limited | 0.093 | 6% | $34,471,074 |
| RDT | Red Dirt Metals Ltd | 0.59 | 5% | $186,328,327 |
| NWM | Norwest Minerals | 0.067 | 5% | $14,214,873 |
| ZNC | Zenith Minerals Ltd | 0.3075 | 4% | $101,926,122 |
| BNR | Bulletin Res Ltd | 0.125 | 4% | $35,110,932 |
| BYH | Bryah Resources Ltd | 0.027 | 4% | $7,312,590 |
| PSC | Prospect Res Ltd | 0.14 | 4% | $62,405,027 |
| TEM | Tempest Minerals | 0.029 | 4% | $14,133,453 |
| TKM | Trek Metals Ltd | 0.088 | 4% | $30,935,332 |
| WCN | White Cliff Min Ltd | 0.0175 | 3% | $12,709,257 |
| LRV | Larvottoresources | 0.18 | 3% | $8,733,463 |
| ZEO | Zeotech Limited | 0.037 | 3% | $58,123,183 |
| RGL | Riversgold | 0.038 | 3% | $28,723,139 |
| EFE | Eastern Resources | 0.043 | 2% | $47,089,181 |
| PAM | Pan Asia Metals | 0.435 | 2% | $62,413,626 |
| GW1 | Greenwing Resources | 0.3575 | 2% | $44,171,912 |
| ASN | Anson Resources Ltd | 0.24 | 2% | $276,335,090 |
| AM7 | Arcadia Minerals | 0.245 | 2% | $11,207,494 |
| KZR | Kalamazoo Resources | 0.25 | 2% | $36,460,747 |
| LIT | Lithium Australia | 0.052 | 2% | $62,280,775 |
| CRR | Critical Resources | 0.053 | 2% | $77,663,126 |
| KAI | Kairos Minerals Ltd | 0.03 | 2% | $57,940,758 |
| ARN | Aldoro Resources | 0.38 | 1% | $42,182,744 |
| GL1 | Globallith | 2.3 | 1% | $472,610,041 |
| LIS | Lisenergylimited | 0.385 | 1% | $63,047,391 |
| EUR | European Lithium Ltd | 0.094 | 1% | $134,779,243 |
| M2R | Miramar | 0.096 | 1% | $6,714,766 |
| WES | Wesfarmers Limited | 47.64 | 1% | $53,551,274,630 |
| RIO | Rio Tinto Limited | 106.38 | 0% | $39,404,601,116 |
| ADV | Ardiden Ltd | 0.009 | 0% | $24,015,018 |
| 1MC | Morella Corporation | 0.017 | 0% | $98,626,448 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| LKE | Lake Resources | 1.055 | 0% | $1,467,820,138 |
| QPM | Queensland Pacific | 0.175 | 0% | $302,796,622 |
| TKL | Traka Resources | 0.005 | 0% | $3,443,873 |
| AX8 | Accelerate Resources | 0.029 | 0% | $7,843,308 |
| EMS | Eastern Metals | 0.11 | 0% | $4,297,085 |
| FG1 | Flynngold | 0.12 | 0% | $7,687,326 |
| FRS | Forrestaniaresources | 0.2 | 0% | $10,083,964 |
| GSM | Golden State Mining | 0.046 | 0% | $5,382,653 |
| MMC | Mitremining | 0.17 | 0% | $4,604,467 |
| SHH | Shree Minerals Ltd | 0.01 | 0% | $12,384,869 |
| TSC | Twenty Seven Co. Ltd | 0.002 | 0% | $10,643,256 |
| WML | Woomera Mining Ltd | 0.014 | 0% | $10,961,817 |
| SCN | Scorpion Minerals | 0.075 | 0% | $25,027,964 |
| ENT | Enterprise Metals | 0.01 | 0% | $6,529,807 |
| PGD | Peregrine Gold | 0.485 | 0% | $18,794,666 |
| AVW | Avira Resources Ltd | 0.0035 | 0% | $7,468,265 |
| NVA | Nova Minerals Ltd | 0.835 | 0% | $153,357,165 |
| A8G | Australasian Metals | 0.23 | 0% | $9,469,214 |
| LSR | Lodestar Minerals | 0.005 | 0% | $8,692,187 |
| SRI | Sipa Resources Ltd | 0.044 | 0% | $9,021,091 |
| VMC | Venus Metals Cor Ltd | 0.14 | 0% | $24,931,016 |
| G88 | Golden Mile Res Ltd | 0.023 | 0% | $4,705,564 |
| EPM | Eclipse Metals | 0.019 | 0% | $38,460,880 |
| MXR | Maximus Resources | 0.047 | 0% | $14,988,571 |
| MM1 | Midasmineralsltd | 0.17 | 0% | $9,712,400 |
| XTC | Xantippe Res Ltd | 0.007 | 0% | $57,016,609 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| KTA | Krakatoa Resources | 0.059 | 0% | $20,337,885 |
| DAF | Discovery Alaska Ltd | 0.029 | 0% | $6,502,806 |
| DAL | Dalaroometalsltd | 0.115 | 0% | $3,435,625 |
| TUL | Tulla Resources | 0.385 | 0% | $77,228,203 |
| CMD | Cassius Mining Ltd | 0.03 | 0% | $12,112,227 |
| NMT | Neometals Ltd | 1.075 | 0% | $596,960,470 |
| LLI | Loyal Lithium Ltd | 0.57 | -1% | $26,875,500 |
| LLL | Leolithiumlimited | 0.565 | -1% | $562,394,440 |
| GT1 | Greentechnology | 1.04 | -1% | $200,275,313 |
| DRE | Dreadnought Resources Ltd | 0.095 | -1% | $295,076,309 |
| CY5 | Cygnus Gold Limited | 0.465 | -1% | $72,109,898 |
| IR1 | Irismetals | 1.85 | -1% | $117,305,100 |
| MIN | Mineral Resources. | 81.975 | -1% | $15,742,275,885 |
| LTR | Liontown Resources | 1.955 | -1% | $4,348,941,993 |
| AZL | Arizona Lithium Ltd | 0.078 | -1% | $190,384,119 |
| JRL | Jindalee Resources | 2.23 | -1% | $129,676,463 |
| DTM | Dart Mining NL | 0.071 | -1% | $11,178,732 |
| QXR | Qx Resources Limited | 0.061 | -2% | $54,675,464 |
| CHR | Charger Metals | 0.605 | -2% | $26,817,712 |
| ALY | Alchemy Resource Ltd | 0.0285 | -2% | $34,019,211 |
| MQR | Marquee Resource Ltd | 0.055 | -2% | $17,786,584 |
| A11 | Atlantic Lithium | 0.82 | -2% | $505,794,286 |
| LRD | Lordresourceslimited | 0.27 | -2% | $9,153,271 |
| GLN | Galan Lithium Ltd | 1.47 | -2% | $456,854,822 |
| PLL | Piedmont Lithium Inc | 0.8425 | -2% | $453,710,888 |
| CXO | Core Lithium | 1.385 | -2% | $2,601,221,978 |
| MRR | Minrex Resources Ltd | 0.043 | -2% | $47,675,835 |
| IGO | IGO Limited | 15.47 | -2% | $12,010,267,514 |
| AKE | Allkem Limited | 14.075 | -3% | $9,207,782,762 |
| MNS | Magnis Energy Tech | 0.385 | -3% | $383,280,936 |
| CAI | Calidus Resources | 0.38 | -3% | $170,734,865 |
| OCN | Oceanalithiumlimited | 0.57 | -3% | $19,612,125 |
| LPD | Lepidico Ltd | 0.0175 | -3% | $137,479,882 |
| KGD | Kula Gold Limited | 0.035 | -3% | $13,003,629 |
| VUL | Vulcan Energy | 7.37 | -3% | $1,087,914,935 |
| AOU | Auroch Minerals Ltd | 0.063 | -3% | $24,122,267 |
| BMM | Balkanminingandmin | 0.31 | -3% | $13,763,442 |
| TMB | Tambourahmetals | 0.155 | -3% | $6,590,816 |
| TYX | Tyranna Res Ltd | 0.031 | -3% | $76,973,610 |
| PLS | Pilbara Min Ltd | 4.745 | -3% | $14,673,692,375 |
| AML | Aeon Metals Ltd. | 0.03 | -3% | $33,988,419 |
| EMH | European Metals Hldg | 0.745 | -3% | $91,691,048 |
| ESS | Essential Metals Ltd | 0.44 | -3% | $116,322,417 |
| SYA | Sayona Mining Ltd | 0.2175 | -3% | $1,870,675,344 |
| AS2 | Askarimetalslimited | 0.415 | -3% | $21,215,822 |
| INR | Ioneer Ltd | 0.55 | -4% | $1,196,052,812 |
| TON | Triton Min Ltd | 0.025 | -4% | $35,952,389 |
| CZL | Cons Zinc Ltd | 0.022 | -4% | $10,647,193 |
| AGY | Argosy Minerals Ltd | 0.65 | -4% | $954,997,099 |
| EVR | Ev Resources Ltd | 0.02 | -5% | $19,445,665 |
| THR | Thor Mining PLC | 0.0095 | -5% | $11,028,835 |
| INF | Infinity Lithium | 0.185 | -5% | $85,233,470 |
| WR1 | Winsome Resources | 1.11 | -5% | $158,083,373 |
| PNN | Power Minerals Ltd | 0.54 | -5% | $41,129,509 |
| AUN | Aurumin | 0.069 | -5% | $9,694,921 |
| FTL | Firetail Resources | 0.17 | -6% | $11,700,000 |
| LPI | Lithium Pwr Int Ltd | 0.54 | -7% | $226,896,653 |
| AOA | Ausmon Resorces | 0.006 | -8% | $5,572,381 |
| MTM | Mtmongerresources | 0.11 | -8% | $4,501,204 |
| RMX | Red Mount Min Ltd | 0.0045 | -10% | $8,211,819 |
| RAG | Ragnar Metals Ltd | 0.017 | -11% | $7,204,513 |
Lithium was weighed towards the losers today with just 41 companies posting gains while 54 were in the red.
Who’s got news out?
Riversgold’s review of historical data has identified three lithium target areas at its Mt Holland tenement in Western Australis’ Yilgarn Craton.
Notably, historical drilling co-incident with the surface geochemical anomalies had also intersected pegmatite.
The company has now started soil sampling and will trial deep ground penetrating radar, which was used successfully at its Tambourah project in the Pilbara, to help define targets for upcoming drilling.
The post Eye on Lithium: S&P’s Aussie analyst delivers real kick to oversupply pundits appeared first on Stockhead.
