Lithium Junior Miners News For The Month Of January 2023

Welcome to the January 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.

January saw a busy month of news including some acquisition activity among the lithium juniors. This month we welcome Latin Resources Ltd who has been upgraded to the main lithium juniors section.

Lithium price news

Asian Metal reported during the past 30 days, the 99.5% China lithium carbonate spot price was down 7.17% and the China lithium hydroxide price was down 3.09%. The Lithium Iron Phosphate (Li 3.9% min) price was down 2.62%. The Spodumene (6% min) price was down 0.46% over the past 30 days.

Benchmark Mineral Intelligence reported China lithium prices of (battery grade carbonate – RMB 489,500 ($72,450), hydroxide RMB 500,000 ($74,000), and Benchmark stated (paywalled): “Contacts reported diverging opinions on the near-term demand outlook amid continued uncertainty over the Chinese EV industry’s recovery after the Spring Festival, which is set to depend on how COVID-19 developments play out in China and the impact of the EV subsidies ending on 1 January 2023. Benchmark notes that the supply chain is positive about the demand picture from the stationary energy storage market. This may buoy lithium demand in 2023, even if the EV industry is weaker than anticipated…….”

Metal.com reported lithium spodumene concentrate (6%, CIF China) price of CNY 37,066 (~USD 5,463/mt), as of January 20, 2022.

On December 14, 2022 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). They also reported on December 21, 2022 securing spodumene average contract prices of US$6,300/DMT (CIF China).

China Lithium carbonate spot price 5 year chart – CNY 477,500 (~USD 70,381)

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 January 2023” article. Highlights include:

• S&P Global: Commodities 2023: Lithium prices likely to see support from tight supply, bullish EV demand.
• Three cathode chemistries to dominate $430b Li-ion market by 2033. LFP production capacity to grow at a CAGR of ~31% over the next 5 years, while NMC and NCA production capacity to grow at a CAGR of ~19%.
• World’s biggest lithium producer bets on prices staying high despite supply rush.
• Sinomine Resources sees a 25% price drop in lithium prices to about 400,000 yuan ($57,443) a ton in 2023 as a boon for EV industry.
• Benchmark Mineral Intelligence is forecasting a small lithium deficit in 2023. Fastmarkets expects a small supply surplus to develop in 2023.
• India’s foray into the EV battery market lacks some key ingredients, namely a shortages of raw materials.
• Tesla files for $716M expansion at Giga Texas, including cathode plant.
• Energy transition metals prices could spike with markets so tight, Trafigura says.
• BloombergNEF forecasts global energy storage capacity installed in 2023 to be almost double the volume installed in 2022.
• Lithium’s next big risk is grand supply plans falling short.
• Albemarle expects high prices for the key battery metal to persist for years even as they spark a rush to expand supply. Albemarle expects 800K-ton lithium deficit by 2030 with prices staying high.
• Bolivia taps Chinese CATL & consortium to help develop lithium riches.

Junior lithium miners company news

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

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

On January 20 Liontown Resources announced: “Kathleen Valley Project update.” Highlights include:

• “Plant capacity design optimised to deliver a 20% increase in the initial plant throughput rate to 3Mtpa (up from 2.5Mtpa), driving increased SC6.0 production to take advantage of strong short- and medium-term forecast lithium pricing.
• Early revenue potential identified through a Direct Shipping Ore (DSO) opportunity designed to monetise material not previously expected to be processed.
• Optimisations and scope adjustments, coupled with continued macro-level and industry-wide cost escalation, have resulted in a revised capital estimate of $895m to first production (including $40m in contingency). Capital requirements will continue to be refined as remaining contracts are awarded and as part of the Company’s ongoing optimisation program.
• Project delivery timelines have been prioritised in a competitive construction market to maximise shareholder value. The Kathleen Valley Project remains on-track for first production from the process plant in mid-2024, with prudent scope adjustments made early in the construction schedule to further de-risk and maintain this timing.
• Liontown has spent ~$73m on the Project to date, with ~$685m of remaining funds comprising ~$385m in existing cash reserves and $300m via a debt facility. The Company is progressing a range of potential further funding options, with additional funding not currently expected to be required until the end of 2023.”

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, targeting a production start in Q2, 2024.

On January 17 Leo Lithium Limited announced: “Goulamina Mineral Resource increased by 33.8 Mt to 142.3 Mt.” Highlights include:

• “Total Goulamina Resource increased by 31% to 142.3 Mt @ 1.38% Li2O.
• Danaya Domain Resource, which is located within the broader Goulamina Project, increased by 33.8 Mt to 56.1 Mt @ 1.24% Li2O, a 152% jump.
• The result confirms the prevalence of a high-grade resource at Danaya and supports possible extension of the current 23-year Goulamina Project mine life.
• Revised Danaya resource model reveals new drilling targets and further exploration potential.
• Drilling at Northeast Domain is continuing, with further Mineral Resource updates targeted for H1 2023.”

On January 19 Leo Lithium Limited announced:

Leo Lithium addresses media speculation…..The article also speculates that “however it would not be unreasonable to expect a capital raising”. Leo Lithium has consistently stated that the Company is substantially funded for the construction of stage 1 of Goulamina. The Goulamina Project remains within budget with construction occurring throughout 2023 and Q1 2024…..

You can view the company presentation here.

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)

No lithium news for the month.

Upcoming catalysts include:

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

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

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

On January 12 Atlantic Lithium Limited announced: “Final resource drilling results received. New mineralised pegmatites confirmed Ewoyaa Lithium Project Ghana, West Africa.” Highlights include:

• “……Newly reported assay results confirm new mineralised pegmatites at the Grasscutter North, Kaampakrom North and Assan targets, outside the currently defined 30.1Mt @ 1.26% Li₂O Ewoyaa JORC (2012) Compliant Mineral Resource Estimate….
• Multiple high-grade drill intersections reported at the Kaampakrom North, Grasscutter North, Anokyi and Grasscutter West targets, including highlights of: GRC0825: 36m at 1.23% Li₂O from 42m. GDD0102A: 22.2m at 1.62% Li₂O from 73.3m. GRC0837: 20m at 1.6% Li₂O from 44m. GDD0103: 15.1m at 1.24% Li₂O from 55.4m. GRC0842: 12m at 1.55% Li₂O from 93m. GRC0839: 13m at 1.35% Li₂O from 99m. GRC0850: 12m at 1.24% Li₂O from 96m. GRC0341: 12m at 1.03% Li₂O from 134m. GRC0844: 7m at 1.69% Li₂O from 162m. GRC0872: 8m at 1.48% Li₂O from 34m.
• All assay results now reported for the total approximate 47,000m drilling programme completed.
• Resource upgrade targeted for Q1 2023; to inform Definitive Feasibility Study (“DFS”) targeted for completion mid-2023.
• Recently announced processing plant FEED engineering contract….”

On January 20 Atlantic Lithium Limited announced: “Corporate update. Atlantic Lithium in the 2023 OTCQX Best 50. Share listing has enhanced North American investor marketing activities.”

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 December 14 Reuters reported:

Vulcan Energy delays lithium output target by a year. Lithium supplier Vulcan Energy is around a year behind schedule to reach an annual capacity of 40,000 tonnes because of supply chain delays, the company’s chief executive told Reuters on Monday…..The study will now come out in early 2023, with 40,000 tonnes of output reached by the end of 2026 rather than 2025 as first announced, Chief Executive Horst Kreuter said. Vulcan Energy already has offtake agreements with automakers Volkswagen (VOWG_p.DE), Stellantis (STLA.MI) and Renault (RENA.PA) as well as Umicore, LG Chem’s (051910.KS) battery unit LG Energy, and utility firm MVV Energy DE>.

On January 17 Vulcan Energy Resources announced:

Vulcan and Stellantis sign agreement to support decarbonisation of Rüsselsheim auto manufacturing facility with geothermal energy….. Stellantis will aim to source funding for 50% of the project development after the first phase.

Upcoming catalysts include:

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

Standard Lithium [TSXV:SLI] (SLI)

On December 29 Standard Lithium announced:

Standard Lithium receives notice of allowance for final U.S. patent covering DLE process for recovering lithium from brines. Successful completion of USPTO review process for company’s lithium extraction patents…..

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

On January 20 Critical Elements Lithium Corp. announced: “Critical Elements Lithium named to 2023 OTCQX best 50.”

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 January 13 ioneer Ltd reported: “U.S. Department of Energy offers conditional commitment for a loan of up to US$700 million for the Rhyolite Ridge Project.”

On January 19 ioneer Ltd reported:

ioneer permitting violation. ioneer Ltd (“Ioneer” or the “Company”) (ASX: INR, Nasdaq: IONR) has been made aware of a permit breach relating to its November 2022 geotechnical drilling program (“Program”) at Rhyolite Ridge. Placement and storage of drill program related equipment along Cave Springs Road was not authorised under the permit issued by the Bureau of Land Management (BLM) for the Program. What occurred was a violation of BLM regulatory requirements; no Tiehm’s buckwheat was disturbed.

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 23 AVZ Minerals announced:

Omni Bridgeway announcement. AVZ Minerals Limited (ASX: AVZ, OTC: AZZVF) (AVZ or Company) is aware of an announcement by litigation funder Omni Bridgeway that it has agreed to fund a class action by shareholders of AVZ against the Company…..AVZ notes that it has previously responded to the allegations repeated in Omni Bridgeway’s announcement (most recently in its announcement of 15 December 2022 (Disclosure Clarifications – AFR Article)).

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]

No news for the month.

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.

On January 10 Lake Resources NL announced: “Lake Resources and Lilac Solutions announce achievement of critical milestones for Project Kachi.” Highlights include:

• “Demonstration plant has operated continuously for over 1,000 hours to date, fulfilling 1,000-hour requirement.
• 40,000 litres of Lithium Chloride concentrate have been produced within specified concentration limits, confirming previous test results.
• Output sent to Saltworks for conversion to Lithium Carbonate.”

On January 11 Lake Resources NL announced: “Kachi M&I resource doubled to 2.2 million tonnes lithium carbonate equivalent with 3.1 million tonnes inferred resource.” Highlights include:

• “Additional drilling has upgraded and increased confidence in the resource in the central area of the salar, with Measured and Indicated (M&I) resources of 2.2 Mt of lithium carbonate equivalent (LCE) defined, to a depth of 400m over 81 km2.
• Surrounding the M&I resources are Inferred resources of 3.1 Mt LCE defined over 117 km2. The resource remains open to a depth of approximately 700 m and open laterally, where drilling is underway to better define the resource extent.
• The lithium grade of the Measured resource (0-400 m) across the salar is 212mg/L lithium, the Indicated resource immediately southeast is 178 mg/l lithium, and the surrounding Inferred resource (0-400 m) has a concentration of 198mg/L lithium.
• Properties are 100% owned by Kachi Lithium PTY Ltd, in which Lake has a 90% interest and Lilac has a 10% interest.
• Additional assays are awaited to expand the area of high confidence (M&I) resources.”

On January 12 Lake Resources NL announced: “Lake Resources provides operational update.” Highlights include:

• “Expansion and Reorganization of Operating Team to better align with technical needs of Kachi Project development…..
• Demonstration Plant operating for over 1,000 hours and conversion of 40,000 Litres of LiCl into Lithium Carbonate underway.
• Focus on completing next stages and further evaluation of project timeline.
• Enhancement of Board to strengthen governance and oversight.”

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

On January 11 European Lithium Ltd. announced: “Updated DFS NPV showing an extremely robust US$1.5b for Wolfsberg Lithium Project.”

On January 11 European Lithium Ltd. announced:

Retraction of announcement. European Lithium Limited (ASX: EUR, FRA:PF8, OTC: EULIF) (the Company) advises that it retracts the announcement released to the ASX today entitled “Updated DFS Shows Robust NPV of $US1.5b”.

On January 13 European Lithium Ltd. announced: “EUR signs non-binding MoU to build and operate a hydroxide plant in Saudi Arabia under JV.” Highlights include:

• “EUR has signed a non-binding MoU with Obeikan Investment Group to build and operate a hydroxide plant in Saudi Arabia.
• A 50:50 JV between parties.
• Reduction in Opex energy costs will create significant savings for the Wolfsberg Project.”

On January 20 European Lithium announced:

AGM RESULTS. The Company has received approval for the proposed transaction to form “Critical Metals Corp.”, which will be listed on NASDAQ.

Note: The above relates to EUR shareholders approving the SZZL/EUR proposed merger. Next will be SZZL shareholders to vote (perhaps in early Feb. 2023) but not yet confirmed).

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

On December 30 Savannah Resources announced:

Extension to due diligence period for potential divestment of last remaining Mozambique Mining concession.

On January 18 Savannah Resources announced:

Social Impact Assessment update…..The SIA will provide Savannah with a clear assessment of the range of views that exists among stakeholders towards the Project and the Company, as well as the expectations and preferences that stakeholders have for benefit sharing from the Project. A ‘Social Issues Scoping Report’, the final report from this first phase of the SIA is expected from CIG later this month, and this will be submitted to the Portuguese environmental regulator (‘APA’) as part of Savannah’s revised EIA submission during Q1 2023. The findings in this report will be used to help shape Savannah’s ongoing interaction and communication with stakeholders, impact mitigation measures, as well as the specifics of its Project-related benefit-sharing plan.

Upcoming catalysts include:

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

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

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 January 16 Galan Lithium announced: “Successful 2022 pumping test program. High production capacity further confirmed at Pata Pila.” Highlights include:

• “……Results also confirm well-ready capacity for the 4kpa LCE Pilot development.
• Second long-term pumping test at Pata Pila (PPB-02-22) results in average extraction rate of 21 L/s and lithium grades of 815 to 866 mg/L.
• Initial results at Pucara del Salar exploration well (PS-01-22) indicate extensive fractured media with high-grade brine (average 974 mg/L).
• New geophysical data from Pata Pila, del Condor, Rana de Sal, Casa del Inca and Santa Barbara further confirms lithologic and brine continuity.
• Drilling at Santa Barbara (SB-01-22) targeting further expansion of HMW Project resource currently at 223m depth.”

Cypress Development Corp. (TSXV:CYP) (OTCQX:CYDVF) (name change planned to Century Lithium Corp.)

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

On January 23 Cypress Development Corp. announced: “Cypress Development provides progress update on feasibility study and lithium extraction facility.” Highlights include:

• “The Pilot Plant continues to function as designed, working to optimize the Project’s flowsheet. The Plant leaches lithium-bearing claystone material, through to the production of concentrated lithium solution using the Company’s Direct Lithium Extraction (“DLE”) process.
• Additional piloting runs will take place at Saltworks Technologies, Inc. following the successful production of lithium carbonate (“Li2CO3”) from the Pilot Plant’s concentrated lithium solutions.
• The Project’s Feasibility Study is on schedule and is continuing to advance toward an anticipated second quarter 2023 completion.
• Arrangements are proceeding to initiate federal, state, and local permitting for the Project, with compilation of data and evaluation of related infrastructure, including access, water, and power supply corridors.
• Ahead of the Feasibility Study and permitting, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.”

On January 24 Cypress Development Corp. announced:

Cypress Development to change name to Century Lithium Corp. The Company will also change the ticker symbol upon which it trades on the TSX Venture Exchange (“TSXV”). The Company will issue a further news release announcing the date that trading under the new name, symbol and CUSIP number will commence. The name change remains subject to TSXV approval.

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

Frontier Lithium own the PAK Lithium (spodumene) Project comprising 26,774 hectares and located 175 kilometers north of Red Lake in northwestern Ontario. The PAK deposit is a lithium-cesium-tantalum [LCT] type pegmatite containing high-purity, technical-grade spodumene (below 0.1% iron oxide).

On January 10 Frontier Lithium announced: “Frontier Lithium intersects 154.3M of pegmatite averaging 1.69% Li₂O, including a 26M zone of 2.15% Li₂O.” Highlights include:

• “The Company completed 15,984m of drilling in 50 holes in 2022. Highlights from the seven Phase XII diamond drill holes reported are included below.
• DDH PL-086-22 intersected 154.3m of pegmatite from 3.7m to 158.0m averaging 1.69% Li₂O. Collared near the centre of the main Spark pegmatite, hole was drilled to provide a southern contact where there was a gap in the model…….
• DDH PL-088-22 intersected 126.5m of pegmatite from 0.5m to 127.0m averaging 1.94% Li₂O and a second 9.8m pegmatite zone from 157.3m to 167.0m averaging 2.01% Li₂O. Collared 30m to the SW of PL-086-22 on the main Spark pegmatite, hole was also drilled to provide a southern contact where there was a gap in the model further to the west. Includes 14.1m from 4.4m to 18.5m averaging 2.13% Li₂O. Includes 10.0m from 30.5m to 40.5m averaging 2.21% Li₂O. Includes 21.8m from 79.2m to 101.0m averaging 2.58% Li₂O.”

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

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

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

On January 5 Patriot Battery Metals announced: “Patriot commences Quebec’s largest 2023 lithium focused drill campaign at the Corvette Property.” Highlights include:

• “Mobilization for the 2023 drill campaign has commenced targeting a minimum of 20,000 m over the January to April period (the ‘winter program’)……
• Objective is to extend the 2,200 m strike length of the CV5 Pegmatite system to the east and west and to continue delineation of the recent CV13 discovery, situated ~4.3 km along geological trend to the west-southwest.
• Construction of winter road almost complete – will improve efficiency and reduce helicopter costs.
• Core assay results for thirty-eight (38) drill holes from the 2022 drill campaign remain to be reported – twenty-four (24) at the CV5 Pegmatite cluster and fourteen (14) at the CV13 Pegmatite cluster.”

On January 18 Patriot Battery Metals announced: “Patriot drills highest grade lithium drill intercept to date – 156.9 m interval of 2.12% Li2O, including 25.0 m of 5.04% Li2O – at the CV5 Pegmatite, Quebec, Canada.” Highlights include:

• “The widest, highest grade lithium drill intercept returned to date at the CV5 Pegmatite – drill hole CV22-083. 156.9 m at 2.12% Li₂O (176.4 m to 333.4 m), including 25.0 m at 5.04% Li₂O or 5.0 m at 6.36% Li₂O (CV22-083)
• Drill hole CV22-083 continues to extend mineralization eastwardly at the CV5 Pegmatite, and is interpreted to have intersected part of a large, high-grade ‘zone’ within the overall pegmatite that now has been defined by several drill holes, including CV22-017, 042, 066, and 083 over a strike length of at least 250 m. Extension of the high-grade zone eastwardly to be tested with the first series of drill holes as part of the 2023 winter drill program.
• Additional significant drill intercepts in the most recent results follow; 45.3 m at 1.72% Li₂O (205.8 m to 251.0 m), including 31.0 m at 2.11% Li₂O (CV22-069). 31.2 m at 1.95% Li₂O (163.0 m to 194.2 m), including 9.0 m at 2.78% Li₂O (CV22-070). 49.5 m at 1.33% Li₂O (80.6 m to 130.1 m) (CV22‑080). 41.3 m at 1.01% Li₂O (96.5 m to 137.7 m), including 12.0 m at 1.59% Li₂O (CV22‑075).
• The spodumene mineralization at the CV5 Pegmatite has been traced over a strike length of at least 2,200 m through the 2021 & 2022 drill programs. The mineralization remains open along strike at both ends and to depth along most of the pegmatite’s length.
• Core assay results for twenty-four (24) drill holes from the 2022 drill campaign remain to be reported – ten (10) at the CV5 Pegmatite cluster and fourteen (14) at the CV13 Pegmatite cluster.”

Investors can read the Trend Investing article here.

Latin Resources Ltd [ASX:LRS]

LRS’ flagship is the 100% owned Salinas Lithium Project (6,341 hectares) in the pro-mining district of Minas Gerais, Brazil. The Salinas Project has a maiden Indicated & Inferred JORC Mineral Resource estimate of 13.3Mt @ 1.2% Li2O (2.08Mt Indicated and 11.17Mt Inferred) at the Colina deposit.

On January 17 Latin Resources announced:

Mineral resource expansion drilling commenced. 65,000m diamond drilling program at Colina & Colina West.

On January 24 Latin Resources announced:

Exceptional assay results confirm Colina West potential. Over 67 meters (cumulative) of mineralised lithium pegmatites intersected in one hole, SADD055 located approximately 200m along strike to the south of the Colina West discovery hole, intersections include:○SADD055:13.73m@1.38%Li2O from 200.19m and:16.08m@1.07%Li2O from 306.69m and:10.85m@1.96% Li2O from 322.15m and:11.16m@1.61%Li2O from 360.17m and:16.00m@1.61%Li2O from 393.60m.

Other significant intersections include:

○SADD053:14.00m@1.35%Li2O from 289.58m ○SADD057:20.17m@1.66%Li2O from 136.99m ○SADD059:14.70m@1.27%Li2O from 109.90m

○SADD060:15.96m@1.56%Li2O from 350.09m…..

You can read the very recent Trend Investing article that discusses Latin Resources here.

Lithium Power International [ASX:LPI] (OTC:LTHHF)

LPI owns 100% of the Maricunga Lithium Brine Project in Chile, plus plans to demerge its Australian assets into a new company called Western Lithium Ltd in Q1 2023.

On January 13 Lithium Power International announced: “LPI commences drilling at Greenbushes Lithium Project.” Highlights include:

• “LPI has commenced its inaugural drilling program at its East Kirup lithium prospect located in the Greenbushes region of Western Australia.
• LPI’s Western Australian projects are held by Western Lithium Ltd, a 100% owned subsidiary company.
• Western Lithium is to be demerged from LPI in the first half of 2023, subject to market conditions and shareholder approval, thereby potentially creating additional value for LPI shareholders.”

Upcoming catalysts:

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

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

On January 5 American Lithium Corp. announced:

American Lithium receives approval to list on NASDAQ…..Trading is scheduled to commence on Nasdaq at the open of markets on Tuesday January 10, 2023, under the symbol “AMLI”. Concurrently with the listing, the Common Shares will cease to be quoted on the OTCQB® Venture Market but will continue to trade on the TSX Venture Exchange.

On January 9 American Lithium Corp. announced: “American Lithium confirms 99.4% purity lithium carbonate precipitation after 97.7% lithium leach extraction and overall Li recovery of 88.1% at TLC – Maiden PEA to be announced shortly.”

On January 16 American Lithium Corp. announced: “American Lithium files updated Mineral Resource Technical Report on TLC supporting large increase in Lithium Resources.” Highlights include:

• “Measured + Indicated Resource increases 64% from original April 2020 Mineral Resource Estimate.
• Measured Resource – 4.2 Mt Lithium Carbonate Equivalent (“LCE”) (860 Mt @ 924 ppm Li); up 25%.
• Indicated Resource – 4.63 Mt LCE (1192 Mt @ 727 ppm Li); up 129%.
• Measured + Indicated Resource – 8.83 Mt LCE (2052 Mt @ 809 ppm Li); up 64%.
• Inferred Resource – 1.86 Mt LCE (486 Mt @ 713 ppm Li); up 5.7%.
• Base Case cut-off of 500 ppm Li employed – up from 400 ppm Li in the original resource due to anticipated increased processing cost inflation between 2020 and 2022.
• Infill RC and Diamond drilling validates size and scale of existing measured core resource, expands the core resource and defines areas of high-grade shallow mineralization.
• At 1200 ppm Li cut-off: Measured + Indicated mineral resource contains 1.60 Mt LCE comprising 214 Mt averaging 1,402 ppm Li, which should positively impact project economics.”

Wealth Minerals [TSXV:WML] [GR:EJZN] (OTCQB:WMLLF)

Wealth Minerals has a portfolio of lithium assets in Chile, such as 46,200 Has at Atacama, 8,700 Has at Laguna Verde, 6,000 Has at Trinity, 10,500 Has at Five Salars. Also the right to acquire a 100% interest in the Ignace REE Lithium Property in Ontario, Canada.

On January 17 Wealth Minerals announced: “Wealth Minerals announces maiden resource for the Ollagüe Project.” Highlights include:

• “Total indicated resources are 741,000 tonnes LCE grading 175 ml/L.
• Total inferred resources are 701,000 tonnes LCE grading 185 ml/L.
• Based on the results of exploration conducted by third parties and the recent drilling program completed by Wealth, four tentative hydrogeologic units were defined.
• These hydrogeologic units have medium to high permeability and are amenable for recovering brine to surface.
• It is anticipated that deeper drilling may encounter lithium brine in the deeper parts of the Project, adding to the overall resource given that the lithium-rich brine is located in the deeper part of the basin.”

Investors can view the company’s latest presentation here.

E3 Lithium Ltd. [TSXV:ETL] [FSE:OW3] (OTCQX:EEMMF) (Formerly E3 Metals)

E3 Lithium Ltd. is a lithium development company focused on commercializing its extraction technology and advancing the world’s 7th largest lithium resource with operations in Alberta. E3 has an Inferred Resource of 24.3mt LCE.

On January 4 E3 Lithium Ltd. announced: “E3 Lithium outlines lithium results from second well demonstrating up to 82 mg/L…..”

On January 19 E3 Lithium Ltd. announced:

Lithium concentration results from third well demonstrate consistency….. The third well outlined the thickness of the Leduc Aquifer to be consistent at 202 metres. Brine sampling was conducted at a single interval, roughly in the middle of the aquifer, which demonstrated a lithium concentration result of 74 mg/L. Please see Figure 1 for the zone interval and concentration result…..

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 January 9 Market Screener reported:

Iconic Minerals, Nevada Lithium sign LOI to consolidate 100% ownership interest in Bonnie Claire Lithium Property, Nevada.

Arena Minerals [TSXV:AN] (OTCQX:AMRZF) (takeover offer from LAC)

No news for the month.

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

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

On January 17 Rio Tinto announced:

We continue to believe that the Jadar lithium-borate project in Serbia has the potential to be a world-class asset, that will support the development of other future industries in Serbia……We are focused on consultation with all stakeholders to explore all options related to the project’s future. At the Rincon lithium project in Argentina, development of the three thousand tonne per annum lithium carbonate starter plant progressed. To optimise the process and recoveries, we continue to produce battery-grade lithium carbonate from raw brine from the existing pilot plant operating at site. Early works construction activities progressed on phase one camp facilities with rooms for 250 persons completed. In the period, airstrip permits were received and contractors mobilised. Detailed studies for the full scale operation were advanced, and the exploration campaign progressed to further understand Rincon’s basin and brine reservoir. We continue to engage with communities, the province of Salta and the Government of Argentina to ensure an open and transparent dialogue with stakeholders about the works underway. Costs attributable to Battery Materials were $161 million.

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

On January 5 Lithium South Development Corp. announced:

Lithium South: 2022 Achievements and 2023 Milestones…..Company President and Chief Executive Officer Adrian F. C. Hobkirk is quoted, “We are very pleased with this year’s progress at the HMN Li Project. The development team has accomplished significant technical milestones, and we look forward to 2023.”

On January 20 Lithium South Development Corp. announced:

Corporate update. Advisers have been retained to provide assistance for the inter-listing of Lithium South on the Australian Securities Exchange, the ASX. With an average daily turnover of A$4.685 billion and a market capitalization of around A$1.6 trillion (Note 1), the ASX is one of the world’s top twenty listed exchange groups. Management believes the inter-listing will provide added investor exposure and raise the profile of the Company, and compliment the current TSX Venture Exchange and OTCQB listings……

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

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

On January 9 Alpha Lithium announced:

Alpha Lithium appoints Ausenco to commence PEA for Lithium Carbonate Plant in Argentina. Recent drill results drive decision to increase proposed plant capacity by 25% to 50,000 tpa.

On January 17 Alpha Lithium announced:

Alpha Lithium granted drilling licenses for Hombre Muerto Salar in Argentina. Company expects to immediately commence drilling on its second major lithium asset in Salta Province, Argentina.

On January 23 Alpha Lithium announced:

Alpha Lithium receives independent confirmation of major fresh water discovery at Tolillar Salar, Argentina. Sustainable supply supports the Company’s planned 50,000 tpa LCE production facility……

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.

No news for the month.

Snow Lake Lithium (LITM)

On January 6 Snow Lake Lithium announced:

Snow Lake Lithium acquires additional land claims in Manitoba Mining District; Expands total land holdings to 59,587 acres…..

On January 11 Snow Lake Lithium announced: “Snow Lake Lithium provides final update following successful completion of the 2022 Grass River Drilling Campaign.” Highlights include:

• “2.0 % Li₂O over 16 meters starting at 30.9 meters down hole (CBP-007), including 3.1 % Li₂O over 1.5 meters.
• 1.8 % Li₂O over 3.0 meters starting at 210.3 meters down hole (GRP-018), including 3.6 % Li₂O over 1.5 meters.
• 2.0 % Li₂O over 6.0 meters starting at 125.0 meters down hole (GRP-013), including 3.2 % Li₂O over 1.5 meters.
• 2.9 % Li₂O over 2.3 meters starting at 84.2 meters down hole (GRP-021), including 3.2 % Li₂O over 1.5 meters.”

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 January 9 Essential Metals announced:

Essential Metals and Tianqi Lithium Energy Australia to enter into a Scheme of Arrangement. Essential Metals Limited (Essential) (ASX: ESS) (the Target) and Tianqi Lithium Energy Australia Pty Ltd (TLEA) (the Bidder) are pleased to announce the execution of a binding Scheme Implementation Agreement (SIA) for the implementation of a Scheme of Arrangement (Scheme) under which TLEA will acquire 100% of the issued capital of Essential. If the Scheme is implemented, each Essential shareholder on the Record Date will receive a cash amount of A$0.50 per Essential.

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 January 10 Green Technology Metals announced: “High grade lithium assays returned from McCombe and drilling resumed at Seymour and Root.” Highlights include:

• “Assays received for a further 11 diamond holes at McCombe, Root including: RL-22-0041: 15.9m @ 1.12% Li2O from 98.1m (incl. 6.0m @ 1.91% Li2O from 99.0). RL-22-0027: 12.3m @ 1.34% Li2O from 3.4m (incl. 11.4m @ 1.41% Li2O from 4.2m). RL-22-0035: 12.7m @ 1.28% Li2O from 66.5m. RL-22-0038: 8.4m @ 1.18% Li2O from 81.5m (incl. 5.0m @ 1.91% Li2O from 81.5m).
• Phase 2 McCombe extensional drilling continuing to explore the lithium bearing pegmatites along strike and down dip.
• All weather camps operational with full complement of staff.
• All weather roads connecting camps to airports and Thunder Bay.
• 6 diamond drill holes completed, and logging and assaying commenced at Morrison, Root.
• Maiden Root Mineral Resource Estimate, on track for Q1 2023.”

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

On January 6 Winsome Resources Limited announced: “Strong lithium mineralisation recorded from first Adina drill hole assays.” Highlights include:

• “Assays from Adina drill hole AD-22-005 show impressive lithium mineralisation, recording 1.34% Li 2O over 107.6m.
• Includes exceptionally high-grade intersections of up to 2.21% Li2 O over 30.0m from 41.0m to 71.0m (AD-22-005).
• Additional significant mineralised pegmatite interval intercepted reporting1.08% Li2 O over 30.0m from 147.0m to 177.0m (AD-22-005).
• More assays on visual lithium mineralisation in core will be reported to the market in the next a couple of weeks.
• Comes on back of recent drilling identifying impressive extension of main pegmatite body strike length to 620m with further extension expected.
• Spodumene pegmatites appear to follow a large and continuous gravity low anomaly, leaving it open in all directions.
• Drilling program at Adina extended significantly from 5,000m to more than 20,000m.”

On January 25 Winsome Resources reported: “Pegmatite at Adina extended to 1,600m of potential strike.”

You can view the Aug. 2022 Trend Investing article on Winsome Resources here, when it was at A$0.26.

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

No lithium news for the month.

Lithium Energy Limited [ASX:LEL]

No lithium news for the month.

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

No significant news for the month.

You can read a recent Trend Investing CEO interview here.

Battery recycling, lithium processing and new cathode technologies

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

On January 12 Rock Tech Lithium announced:

Early start approval for lithium converter in Guben. Rock Tech has recently received approval for an early start to the construction of its lithium converter in Guben, Germany from the responsible Brandenburg State Office for the Environment. From 2025, the Guben Converter is expected to produce around 24,000 tonnes of battery-grade lithium hydroxide. Rock Tech plans to start initial work on the project, with an estimated cost of USD 683 million, on its own property on the industrial park in Guben in the upcoming weeks.

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

On January 6 Neometals announced: “Primobius commercial update.” Highlights include:

• “Stelco Holdings Inc. and Primobius have agreed term extensions for the technology license and lithium-ion battery recycling JV option agreements entered into in late 2021.
• Stelco ‘Spoke’ plant supply agreement and option exercise decision timelines adjusted to align with completion of ‘Hub’ engineering cost study in June Q 2023.”

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

On January 19 Nano One Materials announced: “Nano One provides progress update on the successful integration of Candiac LFP operation.” Highlights include:

• “One-Pot trials commencing and decommissioning of unused equipment progressing……
• Completed integration of Candiac team and facility, focus now on post-merger activities.
• Focusing on meeting market demand while harnessing government support.”

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], Arizona Lithium [ASX:AZL] (OTCPK:AZLAF), Atlantic Lithium [LON:ALL] (OTCQX:ALLIF), Atlas Lithium Corp. (ATLX), Azure Minerals Limited [ASX:AZS], 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], 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] (OTCQB:LTHCF), 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), Oceana Lithium [ASX:OCN], One World Lithium [CSE:OWLI] (OTC:OWRDF), Patriot Lithium [ASX:PAT], Portofino Resources Inc.[TSXV:POR] [GR:POT], Power Metals Corp. [TSXV:PWM] (OTCQB:PWRMF), Power Minerals [ASX:PNN], Prospect Resources [ASX:PSC], Pure Energy Minerals [TSXV:PE] (OTCQB:PEMIF), Quantum Minerals Corp. [TSXV:QMC] (OTCPK:QMCQF), Red Dirt Metals [ASX:RDT], Spearmint Resources Inc [CSE:SPMT] (OTCPK:SPMTF), Surge Battery Metals Inc. [TSXV:NILI] (OTCPK:NILIF), Tantalex Lithium Resources [CSE:TTX], [FSE:1T0], Tearlach Resources [TSXV:TEA] (OTCPK:TELHF), 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

January saw lithium chemicals prices and spodumene prices lower.

Highlights for the month were:

• Liontown Resources Kathleen Valley plant capacity optimised for a 20% increase in the initial throughput rate to 3Mtpa. Revised CapEx to $895m.
• Leo Lithium Goulamina Resource increased by 31% to 142.3 Mt @ 1.38% Li2O.
• Atlantic Lithium new mineralised pegmatites confirmed at Ewoyaa Lithium Project Ghana, West Africa.
• Vulcan Energy delays lithium output target by a year.
• ioneer – U.S. DoE offers conditional commitment for a loan of up to US$700m for the Rhyolite Ridge Project.
• Lake Resources Kachi M&I resource doubled to 2.2 million tonnes lithium carbonate equivalent with 3.1 million tonnes inferred resource.
• European Lithium signs non-binding MoU to build and operate a hydroxide plant in Saudi Arabia under JV. EUR shareholders approve SZZL merger.
• Cypress Development Corp. to change name to Century Lithium Corp.
• Frontier Lithium intersects 154.3M of pegmatite averaging 1.69% Li₂O.
• Patriot Battery Metals drills highest grade lithium drill intercept to date – 156.9 m interval of 2.12% Li2O at the CV5 Pegmatite.
• LPI commences drilling at Greenbushes Lithium Project.
• American Lithium Corp. lists on the Nasdaq under ticker “AMLI”.
• Wealth Minerals announces Maiden Resource for the Ollagüe Project. Total indicated resources are 741,000 tonnes LCE grading 175 ml/L, Total inferred resources are 701,000 tonnes LCE grading 185 ml/L.
• Iconic Minerals, Nevada Lithium sign LOI to consolidate 100% ownership interest in Bonnie Claire Lithium Property, Nevada.
• Snow Lake Lithium acquires additional land claims in Manitoba Mining District. Drills 2.0 % Li₂O over 16 meters starting at 30.9 meters down hole.
• Tianqi Lithium Energy Australia (“TLEA”) to acquire 100% of the issued capital of Essential Metals.
• Green Technology Metals drills 15.9m @ 1.12% Li2O from 98.1m.
• Winsome Resources drills 1.34% Li2O over 107.6m at Adina.
• Rock Tech Lithium receives early start approval for lithium converter in Guben.

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.