December 2022 Lithium Junior Miners News

Welcome to the December 2022 edition of the ‘junior’ lithium miners 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 2020s 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.

December saw slightly lower lithium prices and lots of good progress from the lithium juniors. We also saw a takeover offer from LAC for Arena Minerals.

Lithium price news

Asian Metal reported during the past 30 days, the 99.5% China lithium carbonate spot price was down 4.06% and the China lithium hydroxide price was down 3.77%. The Lithium Iron Phosphate (Li 3.9% min) price was down 2.43%. The Spodumene (6% min) price was down 1.45% over the past 30 days.

Benchmark Mineral Intelligence reported China lithium prices of (battery grade carbonate – RMB 557,500 ($80,275), hydroxide RMB 560,000 ($80,650), and Benchmark stated (paywalled): “Cathode manufacturers continued to work through inventory rather than purchasing new material whilst waiting for clarity over the price trend, weighing on demand for battery grade carbonate from converters……amid reports to Benchmark that consumers remain cautious about Q1 2023 EV sales expectations in China.”

Note: The lithium price falls in CNY were in some cases a rise when converted into USD. For example, last month Benchmark reported: “hydroxide RMB 564,000 ($79,525).”

Metal.com reported lithium spodumene concentrate (6%, CIF China) price of CNY 38,411 (~USD 5,496/mt), as of December 22, 2022.

On December 14 Pilbara Minerals reported the results of their latest 10,000t spodumene BMX auction achieving an equivalent price of US$8,299/DMT (SC6.0, CIF CHINA).

China Lithium carbonate spot price 5 year chart – CNY 547,500 (~USD 78,341)

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 December 2022” article. Highlights include:

• BYD may begin sodium-ion battery production in 2023 – report. BYD says the rumors are false.
• Green light for £200m Teesside lithium factory in the UK.

• Indonesia says lithium, anode plants are being built to support EV ambitions.
• Macquarie: Lithium price support from Chinese lepidolite production cuts.
• BloombergNEF: Lithium-ion battery pack prices rise for first time to an average of $151/kWh.
• Lithium prices could climb higher, helped by U.S. climate bill, execs say.
• Goldman Sachs said it expects lithium prices to fall over the second half of 2023 and into 2024 as the supply and demand outlook rebalances.
• Canada aims to speed up new projects with critical minerals strategy.
• Minister Wilkinson releases Canada’s $3.8-billion Critical Minerals Strategy to seize generational opportunity for clean, inclusive growth.
• Tesla co-founder J B Straubel’s Redwood Materials plans $3.5 billion battery recycling plant in South Carolina, USA.
• Australia expects sharp lithium price pullback in 2024.
• Lithium market in review – Patki’s demand estimate for 2023 is that the industry will need a million tonnes of LCE. “Again, whether there’s supply that will be able to meet that, that’s the big question…”

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 December 20, Liontown Resources announced: “Liontown executes binding Power Purchase Agreement for Kathleen Valley.” Highlights include:

• “Liontown and Zenith Energy have executed a binding Power Purchase Agreement for the supply of electricity to the Kathleen Valley Lithium Project in Western Australia for a period of 15 years……
• With 46MW of emissions free power generation capacity, the 95MW hybrid power station is currently expected to be one of the largest off-grid wind-solar-battery storage renewable energy facilities in the mining industry in Australia…..”

You can view the company’s latest presentation here.

Upcoming catalysts include:

• 2023: Kathleen Valley Project construction
• Q1, 2024: Commissioning with production set to begin Q2, 2024

Leo Lithium Limited [ASX:LLL] (Firefinch Limited spinout 50/50 JV with Ganfeng Lithium)

On December 14, Leo Lithium Limited announced: “Further high-grade drilling results at Danaya.” Highlights include:

• “Danaya Resource drilling program completed.
• Significant down-hole spodumene pegmatite intercepts include: 82 metres at 1.67 % Li2O, from 68 m (GMRC539). 47 metres at 2.43 % Li2O, from 146 m (GMRC538). 20 metres at 1.56 % Li2O, from 84 m (GMRC537).
• Mineralisation remains open at depth and along strike.
• Update of Mineral Resource Estimate for Danaya is progressing well.
• Ongoing Exploration and Resource definition Drilling at the NE Domain.”

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.”

No lithium news for the month.

You can view the latest company presentation here.

Upcoming catalysts include:

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

POSCO [KRX:005490] (PKX)

On December 1, Resources Rising Stars reported:

South Korea steel giant Posco eyes off WA critical minerals sector through Pilbara Minerals venture. South Korea’s biggest steel manufacturer is eyeing off WA’s critical minerals to shore up its supply chain and make batteries needed to power the global transition to electric vehicles (reports The West Australian).

On December 20, The Korea Herald reported:

Posco bets big on Argentina saltwater to top battery materials market….. Last year, a survey conducted by US consulting firm Montgomery & Associates found that the lake contains 13.5 million metric tons of lithium reserves, more than six times Posco’s initial estimate of 2.2 million tons in 2018. The Mars-like landscape, 4,000 meters above sea level and some 1,500 kilometers from Argentina’s capital Buenos Aires, is set to become the heart of Posco’s push in secondary battery materials amid a lithium rush to power electric cars…..

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 December 13, Atlantic Lithium Limited announced:

Award of processing plant FEED contract to Primero appointment of highly-experienced Project Manager Ewoyaa Lithium Project Ghana, West Africa…….Following the recent completion of the 47,000m resource and exploration drilling programme at the Project (refer RNS of 29 November 2022), the Company is currently working towards producing an updated Mineral Resource Estimate (“MRE”) at the Project, intended to be announced in Q1 2023. The updated MRE will then be used to support a Definitive Feasibility Study, expected to be completed by mid-2023.

Upcoming catalysts include:

• Q1 2023 – Updated Mineral Resource Estimate for the Ewoyaa Lithium Project.
• 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 November 28, Vulcan Energy Resources announced:

Project Update: Zero Carbon Lithium™ Project. Vulcan’s Managing Director and CEO, Dr. Francis Wedin, said, “…..It is encouraging to see timely approvals for, and execution of, our works on the ground, as we systematically execute very large 3D seismic surveys across the region…..With completion targeted for Q1 2023, the Vulcan team is striving to deliver the DFS, which is a cornerstone framework for Vulcan’s progress towards financing and project development. We believe the Zero Carbon Lithium™ project is crucial for Europe, and will help to alleviate the energy crisis, lessen the climate emergency through decarbonisation of energy and lithium production, and mitigate the lithium supply issues for the electrification of the European auto industry.

On December 16, Vulcan Energy Resources announced: “Approval of operating plan for lithium extraction demo plant.” Highlights include:

• “Vulcan has received approval from the state authority in Rheinland-Pfalz, Germany, for the Operating Plan for Vulcan’s lithium extraction Demonstration Plant (Demo Plant).
• On site works are ongoing at the Demo Plant. Once operational the Demo Plant is aiming to train Vulcan’s team in a pre-commercial setting, prior to commercial scale plant construction and operation.
• This follows on from a 20-month continuous operation of Vulcan’s Pilot Plant, which has successfully produced the data required for Vulcan’s Definitive Feasibility Study [DFS]. The DFS is progressing on track for finalisation in Q1 2023.
• Vulcan uses a unique combination of commercially mature methods to extract lithium from its geothermal brine in the Upper Rhine Valley Brine Field, with net zero carbon footprint, and zero fossil fuels used in the production process.
• Vulcan’s process is entirely driven by renewable energy and seeks to fix lithium’s problem of high carbon emissions in current production processes used worldwide. In line with its stated timeline1, Vulcan is aiming to enter into commercial production by 2025, scaling up its development in a phased manner to supply its customers in the battery electric vehicle market in Europe with sustainable lithium.”

Upcoming catalysts include:

• Q1 2023 – DFS, potential permitting and project funding.
• 2025 – Target to commence commercial production.

Standard Lithium [TSXV:SLI] (SLI)

On December 6, Standard Lithium announced:

Standard Lithium signs key agreement to advance design of first commercial lithium plant. Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), a leading near-commercial lithium company, is pleased to announce it has completed all necessary agreements with LANXESS Corporation to secure access to the proposed commercial lithium plant site (the “Site Access Agreement”) and conduct all required fieldwork to support the Definitive Feasibility Study [DFS] underway. Standard Lithium is also pleased to report that subsequent to signing the Site Access Agreement, the Company has commenced the site work necessary for the design of its first commercial lithium plant.

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

No significant news for the month.

Investors can view the company’s latest presentation here.

Upcoming catalysts include:

• 2023 – Rose Lithium-Tantalum Project provincial permitting. Possible off-take or 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 December 20, ioneer Ltd announced: “Ioneer’s Rhyolite Ridge Project advances into final stage of permitting.”

Upcoming catalysts include:

• Any debt funding deals on top of the existing Sibanye-Stillwater US$490m to fund Rhyolite Ridge.

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 December 1, AVZ Minerals announced: “Further positive results confirmed at Roche Dure extension drilling program.” Highlights include:

• “Further widespread, high-grade spodumene lithium mineralisation (including 144.5m @ 1.75% Li2O & 934ppm Sn and 172.3m @ 1.57@ Li2O & 702ppm Sn) confirmed from second 4 of 46 planned resource drill holes at Roche Dure North-East Extension.
• 58 samples returned values greater than 2% Li20 including two individual samples grading greater than 3% Li2O with the highest value being from hole MO22DD005 from 8.7 metres to 10 metres downhole grading 3.41% Li2O.
• Drilling results from Section 8,200mN provide further evidence of Roche Dure orebody dipping at significantly shallower angles.
• Drilling fleet joined by a fourth diamond drill rig.”

On December 8, AVZ Minerals announced:

Legal action to affirm interests in the Manono Project. AVZ Minerals Limited (ASX: AVZ, OTC: AZZVF) (AVZ or Company) advises that, with or through its wholly owned subsidiary AVZ International Pty Ltd (AVZI), on 1 December 2022 it has filed the first of two International Chamber of Commerce [ICC] arbitrations against Dathomir Mining Resources SARL (Dathomir) (First Dathomir Arbitration) and expects to file the second arbitration shortly (Second Dathomir Arbitration) (together the Dathomir Arbitrations). The purpose of the Dathomir Arbitrations is to seek a declaration affirming AVZI’s legal title to the 15% stake in the Manono Project acquired under the validly executed and completed sale and purchase agreements with Dathomir, there being two such agreements pursuant to which AVZI acquired 10% and 5% stakes, respectively, in Dathcom Mining SA (Dathcom).

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 November 30, Global Lithium Resources announced: “GL1 successfully completes $10.1 million SPP.”

On December 15, Global Lithium Resources announced: “GL1 delivers transformative 50.7 Mt lithium resource base. WA hard-rock lithium projects – Manna and Marble Bar – achieves a 148.5% resource increase to 50.7Mt @ 1.0% Li 2O.” Highlights include:

• “230% increase in the Manna Lithium Project’s Mineral Resource to 32.7Mt @ 1.0% Li 2O.
• 71% increase in the Marble Bar Lithium Project’s Mineral Resource to 18.0Mt @ 1.0% Li 2O.
• Combined Mineral Resource increases from 20.4Mt to 50.7Mt across GL1’s two 100%-owned hard rock lithium projects in WA.
• A further Mineral Resource update incorporating an additional ~20,000m of drilling at Manna expected to be announced in CY 2023.
• Both projects demonstrate significant scope for further growth in Mineral Resources.
• Additional targets already identified as part of the 2023 drilling program. 35,000m drilling program planned at Manna, aiming to further increase the Mineral Resource and convert more tonnage into the “Indicated” classification.
• Scoping and feasibility studies to commence shortly to progress Manna development into an operational mine.
• Marble Bar exploration area expanded from 15km to 25km of prospective strike.
• Further 20,000m of drilling and large-scale geochemical exploration planned over the greater Marble Bar area in 2023.
• Commercial discussions with a range of OEMs, battery and chemical companies continue to gather momentum.”

On December 16, Global Lithium Resources announced: “Scoping study commences for Manna Lithium Project.”

On December 19, Global Lithium Resources announced:

Performance milestones met. With the combined JORC Mineral Resource Estimate being upgraded to 50.7Mt @ 1% Li 2O (refer to ASX announcement dated 15 December 2022) a total of 2,733,332 performance rights have vested with the following milestones being met: 1,666,666 rights achieving between 15-25Mt at 1% Li2O. 400,000 rights achieving between 20-30Mt at 1% Li2O. 666,666 rights achieving between 30-50Mt at 1% Li2O.

Upcoming catalysts include:

• Q1, 2023 – Scoping Study results due.

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.

No significant news for the month.

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

No significant news for the month.

Upcoming catalysts include:

• 2022 – Any off-take or project funding deals.

You can read a recent Trend Investing update article on EMH here.

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

On December 21, European Lithium announced:

Binding lithium offtake agreement executed with BMW…..BMW to make an advance payment of US$15 million to be repaid through equal set offs against LiOH delivered to BMW……Commencement: supply of lithium hydroxide product expected to begin in 2026 and continue for 6 years until 2031, at which time the Offtake Agreement can be extended for 3 years. Pricing: will be based on fast market spot prices for lithium hydroxide with a discount applied. Quantity: approximately 50,000 metric tonnes of battery grade lithium hydroxide, commencing in the first year with 5,000 metric tonnes and 9,000 metric tonnes each year thereafter.

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

On December 20, Savannah Resources announced: “Environmental Impact Assessment review update.” Highlights include:

• “Savannah is nearing completion of a series of very productive virtual and face to face meetings with APA and other member groups of APA’s EIA evaluation committee, which were initiated in July on entering the Article 16 phase of the EIA.
• The meetings have continued to be constructive and have helped Savannah to gain a full understanding of the committee’s concerns in relation to the Company’s previous EIA submission for the Project.
• Savannah, in collaboration with its team of local and international engineering and environmental consultancies, has now developed an updated site layout and mine plan which Savannah believes addresses the concerns raised by APA and its evaluation committee, whilst reducing the overall environmental impact of the Project.
• The changes are not expected to have an adverse impact on volume or quality of the planned spodumene production.
• Work is now largely focused on the revisions of the EIA documents and Savannah remains on track to make its resubmission during Q1 2023, ahead of the 17 March deadline.
• Following submission of the updated EIA, APA will then have a maximum of 50 business days to conduct its review and issue its Declaration of Environmental Impact (‘DIA’) decision.”

Upcoming catalysts include:

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

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. In total Galan Lithium has 3.0m tonnes contained LCE @858mg/L.

On December 13, Galan Lithium announced: “Galan moves to 100% ownership of Greenbushes South Lithium Project.”

On December 20, Galan Lithium announced: “Maiden drill program to commence at Greenbushes South Lithium Project.”

Cypress Development Corp. (TSXV:CYP) (OTCQX:CYDVF)

Cypress Development owns tenements in the Clayton Valley, Nevada, USA.

No news for the month.

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 November 29, Frontier Lithium announced: “Frontier Lithium reports results for the three and six months ended September 30, 2022…..”

On December 14, Frontier Lithium announced:

Frontier Lithium intersects 126.8M of pegmatite averaging 1.31% Li₂O, including a 11M zone of 1.79% Li₂O and 459ppm Ta₂O₅ and announces new stock option plan and grant of options.

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 December 1, Patriot Battery Metals announced:

Patriot Battery Metals ASX listing update. Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that it has successfully completed an initial public offering on the Australian Securities Exchange (“ASX”) of 7,000,000 CHESS Depository Interests (each, a “CDI” and each 10 CDIs representing one fully paid Common Share for a total of 700,000 underlying Common Shares), at a price of AUD$0.60 per CDI, for gross proceeds of AUD$4,200,000 (approximately CAD$3,654,000). The Company has received approval, subject to the usual conditions, from the ASX to Patriot’s admission to the Official List and to the Official Quotation of Patriot’s CHESS Depository Interests [CDIS].

On December 6, Patriot Battery Metals announced: “Patriot Battery Metals commences trading on the ASX.”

On December 13, Patriot Battery Metals announced: “Patriot drills 113.4 m of 1.61% Li2O, including 2.0 m of 6.41% Li2O, at the CV5 Pegmatite, Corvette Property, Quebec.”

• “…..Continued strong tantalum grades intersected including 18.0 m at 316 ppm Ta₂O₅ (and 2.16% Li₂O) (CV22-062) and 42.2 m at 300 ppm Ta₂O₅ (and 1.52% Li₂O) (CV22-064).
• Drill holes CV22-063 and CV22-066 continue to extend mineralization to the east-northeast at the CV5 Pegmatite, flanked by several secondary lenses, traced over a strike length of at least 2,200 m. The mineralization remains open along strike at both ends and to depth along most of the pegmatite length.”

2023 Exploration and Development Program

• “Drilling at the Property to re-commence in January 2023 with up to five (5) drill core rigs in February.
• Permits have been received and construction underway for a winter road extending south from the Trans-Taiga all-season road to the primary drill area at the CV5 Pegmatite, expediting the winter drill program and reducing helicopter usage.”

On December 19, Patriot Battery Metals announced:

Patriot achieves 79% recovery in Dense Media Separation test work on the CV5 Pegmatite, Corvette Property, Quebec…..

Investors can read the recent Trend Investing article 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 in Q1 2023.

On December 8, Lithium Power International announced: “LPI announces the acquisition of water rights for its Maricunga Lithium Brine Project.”

On December 20, Lithium Power International announced: “LPI completes first steps of Maricunga consolidation.”

On December 23, Lithium Power International announced: “LPI completes Maricunga ownership consolidation.” Highlights include:

• “LPI has now completed the Bearing Transaction to acquire the final 17.14% interest in Maricunga.
• LPI has now consolidated ownership of 100% of Maricunga.”

Upcoming catalysts:

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

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

On December 1, American Lithium announced: “American Lithium reports large increase in lithium resources at TLC – Measured LCE Resource increases 25%; indicated LCE Resource increases 129%….for the TonopahLithium Claims.” Highlights include:

• “Measured + Indicated Resource LCE increases 64% from original April 2020 Mineral Resource Estimate.
• Measured Resource – 4.2 Mt Lithium Carbonate Equivalent (“LCE”) (860 Mt @ 924 ppm Li).
• Indicated Resource – 4.63 Mt LCE (1192 Mt @ 727 ppm Li).
• Measured + Indicated Resource – 8.83 Mt LCE (2052 Mt @ 809 ppm Li).
• Inferred Resource – 1.86 Mt LCE (486 Mt @ 713 ppm Li)……”

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 November 22, Wealth Minerals announced: “Wealth Minerals announces additional semi-massive sulphide discovery at Kootenay Project.”

On December 21, Wealth Minerals announced:

Wealth Minerals reviews SQM Atacama Brine Report. Wealth’s CEO, Hendrik van Alphen, commented: “The SQM report outlines in detail the hydrogeology of the Atacama salar, and contains relevant information that supports the upside exploration potential of Wealth’s land position. The SQM report represents third-party confirmation of what the Wealth team has known since our geophysical surveys in 2017-2018, namely that the general brine basin of the Atacama salar, which has been successfully developed to the south of the Company, extends to the north under the Wealth Minerals Land Position.”

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 November 28, E3 Lithium Ltd. announced: “E3 Lithium receives $27m investment from the Government of Canada’s Strategic Innovation Fund…..”

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 November 22, Iconic Minerals announced:

Iconic receives approval of its plan of Operation from The Bureau of Land Management at its Bonnie Claire Lithium Project…..The newly permitted exploration area covers 4,146 acres (16.78 square kilometers), 3,271 acres (13.24 square kilometers) of which are salt playa. This area includes permitting for 100 acres (0.405 square kilometers) of disturbance, 27.6 acres (0.11 square kilometers) of which is for drill sites. This is expected to cover future drilling of up to 109 holes during Phase I activities; the number of holes to be drilled under subsequent phases is currently unknown and will be determined by the Phase I results.

On December 7, Iconic Minerals announced: “Iconic finds strong correlation between drill holes at Bonnie Claire Lithium Project…..”

On December 20, Iconic Minerals announced:

Iconic Minerals receives additional drilling assays for Bonnie Claire Lithium Project…..Results appear to show continuous Lithium mineralization in a shallow zone averaging 360 feet (110 meters) thick and a deeper zone averaging 900 feet (274 meters) thick. The drilling delineates an area 4,000 feet (1,220 meters) long in an east-west direction and 2,030 feet (618 meters) long in a north-south direction.

Arena Minerals [TSXV:AN] (OTCQX:AMRZF)

On December 8, Arena Minerals announced:

Arena Minerals increases land holdings in Pastos Grandes. Arena Minerals Inc. (“Arena” or the “Company”) (TSX-V: AN | OTCQX: AMRZF) is pleased to announce that its subsidiary Sal de la Puna Holdings Inc. (“SdlPH”) has entered into a binding Purchase and Sale Agreement (the “Agreement”) to acquire two mining claims covering 505 hectares of the Pastos Grandes basin, located in Salta province, Argentina.

On December 20, Arena Minerals announced:

Lithium Americas to acquire Arena Minerals to consolidate the highly prospective Pastos Grandes Basin……Pursuant to the Arrangement Agreement, Arena’s shareholders (“Arena Shareholders”) will receive 0.0226 (the “Exchange Ratio”) of a Lithium Americas common share (a “LAC Share”) for each Arena Share held (the “Consideration”). The Consideration to Arena implies a total equity transaction value (on a 100% basis) of US$227 million (C$311 million), based on the closing price on December 19, 2022, which would result in Arena Shareholders owning approximately 5.7% of Lithium Americas.

Investors can view a recent Trend Investing article on Arena Minerals here.

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

On November 30, Rio Tinto announced: “Rio Tinto plans further investment in renewable energy in the Pilbara”

On December 6, Rio Tinto announced: “OZ Minerals, Boliden and Rio Tinto agree to innovate on solutions to pave the way for lower footprint mines.”

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

On December 13, Lithium South Development Corp. announced:

Lithium South provides further excellent lithium results…..Hole AS05, located approximately 800 meters west of hole AS03, has been completed to a depth of 260 meters, with a brine zone of approximately 185 meters……The Company is reporting results from three samples received so far from Hole ASO5: Sample HMN 139 located at the top of the hole at 35 meters, and within an alluvial fan with freshwater influence, returned 434 milligrams per liter lithium (mg/L Li). Sample HMN 140 was taken at 52 meters depth and returned 725 mg/l Li. Sample HMN 141 was taken at 66 meters depth and returned 701 mg/l Li. Hole AS06 located approximately 800 meters west of hole AS02 is encountering similar geology to hole AS05……

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

On December 5, Alpha Lithium announced: “Alpha Lithium finalizes unconditional deed for Tolillar Salar, Argentina.”

On December 19, Alpha Lithium announced:

Alpha Lithium achieves best grades to-date at Tolillar Salar, Argentina. Test results from WBALT15 returned lithium concentrations up to 360 mg/L.

Avalon Advanced Materials [TSX:AVL] [GR:OU5] (OTCQX: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 December 5, Avalon Advanced Materials announced: “Avalon publishes 2022 Annual Sustainability Report.”

Snow Lake Lithium (LITM)

No significant news for the month.

Essential Metals [ASX:ESS] (OTCPK:PIONF)

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 December 20, Essential Metals announced: “Dome North Lithium upgrade boosts indicated resource tonnes by 50%. The significant growth in Indicated Resource underpins the Scoping Study currently underway and due for completion in January.” Highlights include:

• “Lithium within the higher confidence Indicated Resource category has increased from 5.4Mt@ 1.3% Li2O containing 70,000 tonnes of lithium to 8.6Mt @ 1.23% Li2O containing 105,000 tonnes, an increase of 50%.
• An impressive 81% of the total contained lithium within the Mineral Resource has now been upgraded to the higher confidence Indicated Category, reflecting the thick, high grade and out-cropping nature of the deposits.
• Metallurgical test work has confirmed minimal oxidation of the spodumene at Cade with excellent recoveries demonstrated from the shallow mineralisation.
• The total lithium Mineral Resource was little changed, updated to 11.2Mt @ 1.16% Li2O containing 129,000 lithium tonnes (from 136,000 lithium tonnes).
• The upgraded Mineral Resource will be used to complete a mining optimisation study based on three open pits. The pit optimisation outcomes will then be incorporated into the Scoping Study due for completion in January.
• All exploration targets generated from the structural review are on track to have been field checked by early January. Assays from field samples will be received during January and February.”

Upcoming catalysts:

• January 2023 – Scoping Study for the Pioneer Dome Lithium (spodumene) Project.

Green Technology Metals [ASX: GT1]

Green Technology Metals [ASX:GT1] (“GT1”) has several very promising lithium projects near Thunder Bay in Ontario, Canada. The current JORC Total Mineral Resource is 4.8Mt @ 1.25% with a projects (spodumene) wide target resource of 50-60 MT @ 0.8-1.5% Li2O.

On December 13, Green Technology Metals announced: “Continued high grade lithium at McCombe, Root and second rig mobilized to Morrison, Root.” Highlights include:

• “More than 50 drill holes intersecting spodumene bearing pegmatite at McCombe deposit, Root.
• New spodumene bearing pegmatites intersected in the northeast quadrant of McCombe.
• Assays received for a further eight diamond holes including: RL-22-0022: 14.0m @ 1.35% Li2O from 47.4m…..RL-22-0023: 13.1m @ 1.39% Li2O from 12.4m. RL-22-0018: 12.6m @ 1.18% Li2O from 51.8m…..RL-22-0017: 6.2m @ 1.29% Li2O from 53.9m…..
• Phase 1 definition drilling; 22 holes completed all assays received.
• Phase 2 extensional drilling in progress with strong visual spodumene logged in all holes; 28 holes completed, assays still pending.
• Second drill rig mobilising to Morrison, located 1 km east of McCombe to target known spodumene bearing pegmatites.
• Maiden Root Mineral Resource Estimate on track for Q1 2023.”

On December 22, Green Technology Metals announced: “Coarse spodumene concentrate produced at Seymour with lithium recovery exceeding 72%.” Highlights include:

• “Flagship Seymour concentrate recovery exceeds 72% using heavy liquid separation.
• Confirms simple 2 stage DMS flowsheet potential.
• Critical milestone for the PEA and future off-take partners.
• Test work based on 1000kg of representative composites as per preliminary mine plan.
• Very high recovery due to large spodumene crystal size.
• Concentrates now being sent for conversion work to Lithium Hydroxide.”

International Lithium Corp. [TSXV:ILC] [FSE: IAH] (OTCQB:ILHMF)

On November 29, Market Screener reported: “International Lithium Corp. reports earnings results for the third quarter and nine months ended September 30, 2022.”

Lithium Energy Limited [ASX:LEL]

On November 28, Lithium Energy Limited announced: “Drilling programme advances at Solaroz Lithium Brine Project in Argentina.” Highlights include:

• “Lithium Energy has commenced drilling the second and third diamond drill holes of its initial 10 hole, 5,000 metre drilling programme at Solaroz.
• Drilling is targeting conductive brines identified by geophysics to depths of up to 500 metres below surface.
• Lithium Energy’s initial drilling programme will seek to validate the previously announced Exploration Target and define a maiden JORC Mineral Resource of lithium at Solaroz.”

On December 14, Lithium Energy Limited announced: “Intersections of conductive brines encountered in further drillholes at Solaroz Lithium Project in Argentina.” Highlights include:

• “Diamond holes SOZDD002 and SOZDD003 currently being drilled in the northern central section of the Olaroz Salar have intersected conductive brines commencing at depths of 185m and 158m respectively with drilling proceeding ahead.
• Geophysics indicates these conductive brines may extend to depths of up to 500 metres which will be tested by current drilling.
• These new intersections together with the prior lithium discovery at the Mario Angel concession in drill hole SOZDD001 approximately 15 km away support Lithium Energy’s geological model of extensive aquifers hosting lithium-rich conductive brines present at Solaroz.
• Lithium Energy’s initial drilling programme will seek to validate the previously announced Exploration Target and define a maiden JORC Mineral Resource of lithium at Solaroz.”

Argentina Lithium and Energy Corp. [TSXV: LIT] (OTCQB: OTCQB:PNXLF)

No significant news for the month.

You can read a very recent Trend Investing CEO interview here.

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

On December 2, Winsome Resources Limited announced: “Winsome acquires key stake and offtake deal in Ontario critical minerals project.” Highlights include:

• “Winsome Resources signs binding agreement to purchase Hong Kong-based Sinomine’s interests in Power Metals Corp’s Case Lake Project.
• Case Lake hosts high-grade lithium, caesium and tantalum deposits1 in which Winsome has gained the rights to all offtake.
• Located across the provincial border but in proximity to Winsome’s Quebec assets.”

On December 12, Winsome Resources Limited announced: “Winsome acquires camp close to Cancet and Adina projects.”

On December 19, Winsome Resources Limited announced: “Winsome finalises OTC listing, opens way for more seamless trading in North America.” (OTCQB:WRSLF)

Battery recycling, lithium processing and new cathode technologies

Rock Tech Lithium [CVE:RCK](OTCQX:RCKTF)

No news for the month.

Neometals (OTC:RRSSF) (Nasdaq:RDRUY) [ASX:NMT]

On December 8, Neometals announced: “Primobius corporate update.” Highlights include:

• “To accelerate Primobius’ commercial activities Neometals has formalised 50:50 ownership of its lithium-ion battery recycling IP (“Recycling IP”) with SMS group GmbH.
• Primobius has also been issued with an exclusive full commercial operations license to the Recycling IP, replacing the previous limited evaluation licence, to support its multiple business models.”

Nano One Materials (TSX: NANO) (OTCPK:NNOMF)

On December 21, Nano One Materials announced: “Nano One and Umicore enter into Joint Development Agreement for Battery Materials Process Technology.” Highlights include:

• “Parties to jointly leverage their technologies for high nickel NMC cathode active materials.
• Objective to increase throughput while reducing costs and environmental footprint.
• Aligned on creating secure, resilient, and long-lasting supply chains.”

Other lithium juniors

Other juniors include: 5E Advanced Materials Inc [ASX:5EA] (FEAM), American Lithium Minerals Inc. (OTCPK:AMLM), Anson Resources [ASX:ASN] [GR:9MY], Ardiden [ASX:ADV] (OTC:ARDDF), Arizona Lithium [ASX:AZL] (OTCQB:AZLAF), Atlantic Lithium [LON:ALL] (OTCQX:ALLIF), Atlas Lithium Corp. (OTCQB:ATLX), Bradda Head Lithium Limited [LON:BHL] (OTCQB:BHLIF) (OTCPK:CDCZF), Bryah Resources Ltd [ASX:BYH], Carnaby Resources Ltd [ASX:CNB], Critical Resources [ASX:CRR], Electric Royalties [TSXV:ELEC], Eramet [FR: ERA] (OTCPK:ERMAF) (OTCPK:ERMAY), Foremost Lithium Resources & Technology [CSE:FAT] (OTCPK:FRRSF), Greenwing Resources Limited [ASX:GW1] (OTCPK:BSSMF), HeliosX Lithium & Technologies Corp. [TSXV:HX] (formerly Dajin Lithium Corp. [TSXV:DJI]), Hannans Ltd [ASX:HNR], Infinity Lithium [ASX:INF], International Battery Metals [CSE: IBAT] (OTCPK:IBATF), Ion Energy [TSXV:ION], Jadar Resources Limited [ASX:JDR], Jindalee Resources [ASX:JRL] (OTCQX:JNDAF), Jourdan Resources [TSXV:JOR] (OTCQB:JORFF), Kodal Minerals (LSE-AIM: KOD), Larvotto Resources [ASX:LRV], Latin Resources Ltd [ASX:LRS] (OTC:LAXXF), Lepidico [ASX:LPD] (OTCPK:LPDNF), Liberty One Lithium Corp. [TSXV:LBY] (LRTTF), Lithium Australia [ASX:LIT] (OTC:LMMFF), Lithium Chile Inc. [TSXV:LITH][GR:KC3] (OTCPK:LTMCF), Lithium Corp. (OTCQB:LTUM), Lithium Energi Exploration Inc. [TSXV:LEXI](OTCPK:LXENF), Lithium Ionic Corp. [TSXV:LTH], Lithium Plus Minerals [ASX:LPM], Lithium Springs Limited [ASX:LS1], Loyal Lithium [ASX:LLI], Metals Australia [ASX:MLS], MetalsTech [ASX:MTC], MinRex Resources [ASX:MRR], MGX Minerals [CSE:XMG] (OTC:MGXMF), New Age Metals [TSXV:NAM] (OTCQB:NMTLF), Noram Lithium Corp. [TSXV:NRM] (OTCQB:NRVTF), One World Lithium [CSE:OWLI] (OTC:OWRDF), Portofino Resources Inc.[TSXV:POR] [GR:POT], Power Metals Corp. [TSXV:PWM] (OTCQB:PWRMF), Prospect Resources [ASX:PSC], Pure Energy Minerals [TSXV:PE] (OTCQB:PEMIF), Quantum Minerals Corp. [TSXV:QMC] (OTCPK:QMCQF), Spearmint Resources Inc [CSE:SPMT] (OTCPK:SPMTF), Surge Battery Metals Inc. [TSXV:NILI] (OTCPK:NILIF), Tantalex Lithium Resources [CSE:TTX], [FSE:1T0], Ultra Lithium Inc. [TSXV:ULI] (OTCQB:ULTXF), United Lithium Corp. [CSE:ULTH] [FWB:0UL] (OTCPK:ULTHF), Vision Lithium Inc. [TSXV:VLI] (OTCQB:ABEPF), Xantippe Resources [ASX:XTC], Zinnwald Lithium [LN:ZNWD].

Conclusion

December saw lithium chemicals prices and spodumene prices slightly lower.

Highlights for the month were:

• Vulcan Energy Resources receives approval of operating plan for lithium extraction demo plant.
• Standard Lithium signs key agreement to advance design of first commercial lithium plant.
• Ioneer’s Rhyolite Ridge Project advances into final stage of permitting.
• AVZ Minerals files legal action to affirm interests in the Manono Project.
• Global Lithium Resources delivers a 148.5% resource increase at Manna and Marble Bar to 50.7Mt @ 1.0% Li2O.
• European Lithium executes Binding Lithium Offtake Agreement with BMW.
• Galan Lithium moves to 100% ownership of Greenbushes South Lithium Project, maiden drill program to commence.
• Frontier Lithium intersects 126.8M of pegmatite averaging 1.31% Li₂O.
• Patriot Battery Metals commences trading on the ASX, drills 113.4 m of 1.61% Li2O, achieves 79% recovery in Dense Media Separation test work.
• LPI announces the acquisition of water rights for its Maricunga Lithium Brine Project, completes 100% consolidation of Maricunga Project.
• American Lithium Corp. reports large increase in lithium resources at their Tonopah Lithium Claims.
• E3 Lithium receives $27m investment from the Government of Canada’s Strategic Innovation Fund.
• Lithium Americas to acquire Arena Minerals to consolidate the highly prospective Pastos Grandes Basin.
• Lithium South drill sample HMN 140 was taken at 52 meters depth and returned 725 mg/l Li.
• Essential Metals Pioneer Dome Lithium project total lithium Mineral Resource updated to 11.2Mt @ 1.16% Li2O.
• Green technology Metals coarse spodumene concentrate produced at Seymour with lithium recovery exceeding 72%.
• Winsome Resources signs binding agreement to purchase Hong Kong-based Sinomine’s interests in Power Metals Corp’s Case Lake Project.
• Umicore and Nano One enter into Joint Development Agreement for battery materials process technology.

As usual all comments are welcome.

Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.