Graphite deficit expected to continue out to the 2030s
USA moving away from China and looking to Aussie suppliers
IG6 boss says there’s ‘outstanding opportunities’ for Aussie graphite in the US
Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.
Demand for natural graphite is expected to exceed supply through the mid to late 2020s and be in major supply deficit into the 2030s.
China currently processes 98% of graphite used worldwide in the electric vehicle industry.
And in 2027, graphite imported into the US from a Foreign Entity of Concern (FOEC), such as China, Russia, Iran and North Korea, will be hit with a 25% tax.
In addition, consumers who purchase an EV in the US that contains a battery with more than 25% of its components supplied by an FOEC, will not be eligible for the US$7,500 tax credit.
It’s all part of the country’s aim to grow domestic manufacturing capability and reduce critical minerals’ supply chain reliance on China in particular through the US Inflation Reduction Act.
Access to graphite is critical to the success of the plan but the US has very few graphite resources of its own.
That’s where Australia comes in.
International Graphite (ASX:IG6) chairman and founder Phil Hearse reckons there are ‘outstanding opportunities’ for Australian graphite in the US.
Hearse recently attended the 10th annual Benchmark Minerals Intelligence GigaUSA 2024 and the US Government’s SelectUSA Investment Summit – the US Government’s biggest investment showcase – and says graphite came up time and again as the commodity that is of most supply concern to policy makers.
“Australian graphite is firmly in the crosshairs of the US critical minerals industry,” he said.
“Nothing was more apparent during our recent trip to Washington, as part of an Australian trade delegation organised by the US Department of Commerce International Trade Administration.”
In December, the US Congress designated Australia a domestic source under the US Defence Production Act, allowing the US to provide grants for Australian critical minerals producers.
IG6 says this opens the US doors for emerging suppliers, with the company’s Springdale graphite resource and planned processing facility in WA.
“International Graphite’s timing for development of Springdale and Collie is just about perfect,” Hearse said.
It’s also a primed market for other graphite plays like Quantum Graphite (ASX:QGL), which has just nabbed a Letter of Interest and non-binding Indicative Term Sheet from US EXIM Bank (EXIM) for a financing commitment of up to US$300 million for the mining and production of flake graphite concentrate at its Uley mine in South Australia.
If the financing proceeds, it will be structured to support a complete end-to-end supply chain for the production and delivery of up to 100,000 tonnes per annum of high purity graphite to the East Coast of the US.
Battery Metals Winners and Losers
Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese, and vanadium is performing>>>
Code Company Price % Week % Month % Six Month % Year Market Cap XTC XTC Lithium Limited 0.2 19900% 19900% 19900% -17% $17,528,272 M2R Miramar 0.012 71% 41% -55% -72% $2,566,067 LM1 Leeuwin Metals Ltd 0.082 52% 52% -37% -79% $3,513,875 FG1 Flynngold 0.039 50% 70% -26% -26% $6,618,162 CY5 Cygnus Metals Ltd 0.06 40% 15% -40% -81% $17,601,548 CMO Cosmometalslimited 0.057 27% 14% -5% -30% $7,304,920 BYH Bryah Resources Ltd 0.005 25% -29% -62% -71% $2,516,434 EMT Emetals Limited 0.005 25% 0% -29% -44% $4,250,000 EVR Ev Resources Ltd 0.006 20% 9% -54% -54% $8,227,629 GSM Golden State Mining 0.012 20% 26% 0% -66% $3,352,448 LCY Legacy Iron Ore 0.018 20% 29% 13% -10% $131,130,320 ARN Aldoro Resources 0.085 18% 29% 1% -39% $11,173,771 MEK Meeka Metals Limited 0.04 18% 21% 0% 14% $50,623,066 EMC Everest Metals Corp 0.135 17% 8% 75% -25% $22,178,220 ZNC Zenith Minerals Ltd 0.055 17% -20% -67% -41% $19,380,949 RGL Riversgold 0.007 17% 17% -36% -42% $7,862,249 HAW Hawthorn Resources 0.07 17% 0% -29% -52% $23,451,093 OD6 Od6Metalsltd 0.05 16% 2% -50% -80% $6,434,509 PNT Panthermetalsltd 0.036 16% 24% -40% -49% $3,137,982 M24 Mamba Exploration 0.015 15% -12% -73% -77% $2,577,152 AXN Alliance Nickel Ltd 0.04 14% 5% -2% -56% $29,033,585 S2R S2 Resources 0.12 14% 14% -17% -41% $54,342,959 LRV Larvottoresources 0.12 14% 20% 85% -12% $35,811,683 NKL Nickelxltd 0.025 14% 0% -19% -60% $2,195,379 PVW PVW Res Ltd 0.028 12% 22% -38% -67% $2,839,334 PSC Prospect Res Ltd 0.14 12% -7% 71% 12% $67,015,184 VRC Volt Resources Ltd 0.005 11% 0% -23% -55% $16,634,713 EFE Eastern Resources 0.005 11% -17% -38% -55% $6,209,732 RAG Ragnar Metals Ltd 0.02 11% 18% -13% -13% $9,479,619 GRE Greentechmetals 0.15 11% 0% -52% -63% $12,461,996 KAI Kairos Minerals Ltd 0.01 11% 11% -23% -58% $26,209,122 EMS Eastern Metals 0.031 11% 3% -14% -56% $3,523,964 FRB Firebird Metals 0.155 11% -11% 29% 15% $22,066,017 EVG Evion Group NL 0.021 11% 17% -28% -40% $7,286,227 AVL Aust Vanadium Ltd 0.0165 10% 10% -13% -50% $146,487,270 HRE Heavy Rare Earths 0.034 10% 26% -40% -66% $2,056,590 INR Ioneer Ltd 0.1475 9% 2% 18% -57% $350,613,945 KGD Kula Gold Limited 0.012 9% 0% -8% -29% $7,075,331 PFE Panteraminerals 0.036 9% -5% -35% -57% $13,644,962 BNR Bulletin Res Ltd 0.049 9% 26% -51% -17% $13,799,826 BKT Black Rock Mining 0.063 9% 21% -10% -40% $77,605,112 AAJ Aruma Resources Ltd 0.013 8% -19% -52% -71% $2,559,590 VMC Venus Metals Cor Ltd 0.08 8% 5% -18% -36% $15,178,295 RBX Resource B 0.04 8% 14% -47% -75% $3,307,379 STK Strickland Metals 0.096 8% -13% -2% 159% $210,183,815 RR1 Reach Resources Ltd 0.014 8% -18% -13% -69% $12,242,039 RR1 Reach Resources Ltd 0.014 8% -18% -13% -69% $12,242,039 BMM Balkanminingandmin 0.072 7% 29% -28% -62% $5,114,917 VTM Victory Metals Ltd 0.38 7% 38% 90% 27% $35,250,051 CMX Chemxmaterials 0.046 7% -12% -39% -45% $5,843,027 REC Rechargemetals 0.031 7% -11% -65% -90% $3,771,629 SGQ St George Min Ltd 0.033 6% 27% 3% -23% $32,621,834 PLL Piedmont Lithium Inc 0.17 6% 10% -41% -81% $72,177,508 A8G Australasian Metals 0.07 6% -8% -48% -56% $3,648,435 GED Golden Deeps 0.035 6% -15% -13% -61% $4,244,532 LTM Arcadium Lithium PLC 5.355 6% 5% -35% 0% $1,992,523,872 MEI Meteoric Resources 0.1425 6% -16% -39% -39% $278,616,778 MTM MTM Critical Metals 0.039 5% 18% -47% -61% $10,682,060 BUX Buxton Resources Ltd 0.08 5% 10% -48% -43% $16,321,290 AKN Auking Mining Ltd 0.02 5% -5% -55% -69% $5,307,074 PGD Peregrine Gold 0.2 5% -2% -38% -30% $13,575,684 CXO Core Lithium 0.105 5% 17% -50% -89% $213,693,554 E25 Element 25 Ltd 0.215 5% -12% -31% -62% $46,181,604 WKT Walkabout Resources 0.11 5% -4% -15% -8% $70,482,452 MHK Metalhawk. 0.052 4% 0% -47% -60% $5,234,840 RON Roninresourcesltd 0.13 4% 4% -16% -28% $4,787,251 GL1 Globallith 0.28 4% -2% -51% -84% $71,572,957 DM1 Desert Metals 0.029 4% 32% -34% -52% $7,697,345 RXL Rox Resources 0.15 3% 11% -3% -45% $63,122,547 SLM Solismineralsltd 0.15 3% 58% 30% -73% $12,697,422 WC1 Westcobarmetals 0.031 3% -21% -56% -72% $4,727,510 VHM Vhmlimited 0.465 3% 26% -17% -28% $71,703,129 QPM Queensland Pacific 0.034 3% 3% -26% -69% $85,708,847 VMS Venture Minerals 0.0185 3% -31% 106% 32% $46,344,451 A11 Atlantic Lithium 0.38 3% -4% -3% -16% $246,874,240 BCA Black Canyon Limited 0.085 2% -6% -23% -58% $5,962,024 AGY Argosy Minerals Ltd 0.088 2% -1% -20% -78% $116,473,675 ABX ABX Group Limited 0.052 2% 4% -27% -48% $13,002,096 ADV Ardiden Ltd 0.14 2% 4% -20% -53% $8,439,863 INF Infinity Lithium 0.058 2% 14% -39% -50% $26,830,341 1AE Auroraenergymetals 0.072 1% 13% -58% 29% $13,608,844 BC8 Black Cat Syndicate 0.365 1% 40% 70% -15% $141,979,393 IPX Iperionx Limited 2.23 1% 12% 31% 110% $581,966,197 CWX Carawine Resources 0.086 1% -14% -18% -21% $20,306,789 AZL Arizona Lithium Ltd 0.021 0% 0% -13% -38% $98,423,920 LPD Lepidico Ltd 0.002 0% -33% -70% -86% $17,178,239 MRD Mount Ridley Mines 0.001 0% 0% -50% -50% $7,784,883 LKE Lake Resources 0.038 0% -24% -64% -86% $63,403,791 MAN Mandrake Res Ltd 0.027 0% -16% -40% -31% $16,652,518 RLC Reedy Lagoon Corp. 0.003 0% 0% -40% -66% $1,858,622 GBR Greatbould Resources 0.054 0% -13% -8% -30% $33,964,409 MNS Magnis Energy Tech 0.042 0% 0% 0% -66% $50,378,922 0 0% 0% 0% 0% ESR Estrella Res Ltd 0.004 0% -11% -33% -56% $7,037,487 SBR Sabre Resources 0.014 0% -18% -53% -60% $5,501,467 PAN Panoramic Resources 0.035 0% 0% 0% -65% $103,937,992 PRL Province Resources 0.041 0% 0% 0% 0% $48,441,219 LIT Lithium Australia 0.023 0% 28% -21% -28% $26,890,417 JRV Jervois Global Ltd 0.019 0% 6% -44% -68% $54,055,276 LTR Liontown Resources 0.965 0% -5% -21% -66% $2,400,754,831 VML Vital Metals Limited 0.0035 0% 0% -42% -65% $20,632,734 POS Poseidon Nick Ltd 0.004 0% -20% -60% -87% $14,854,139 CHR Charger Metals 0.06 0% -14% -65% -81% $4,645,215 0 0% 0% 0% 0% SYA Sayona Mining Ltd 0.033 0% -6% -25% -81% $339,678,768 EGR Ecograf Limited 0.125 0% -7% -14% -19% $56,753,977 ATM Aneka Tambang 1.07 0% 0% -9% -3% $1,394,904 ALY Alchemy Resource Ltd 0.008 0% 0% -11% -43% $8,246,534 LEL Lithenergy 0.37 0% -4% -27% -53% $40,880,573 RMX Red Mount Min Ltd 0.001 0% 0% -62% -77% $3,423,577 LML Lincoln Minerals 0.006 0% 0% 0% -54% $12,337,557 REE Rarex Limited 0.015 0% 7% -40% -63% $11,851,973 PUR Pursuit Minerals 0.003 0% 0% -57% -77% $10,906,200 PEK Peak Rare Earths Ltd 0.18 0% -12% -42% -66% $47,957,519 LEG Legend Mining 0.012 0% -8% 0% -69% $34,913,726 G88 Golden Mile Res Ltd 0.011 0% 0% -31% -78% $4,523,451 TON Triton Min Ltd 0.011 0% -8% -48% -65% $17,252,276 AR3 Austrare 0.095 0% 2% -36% -69% $14,812,580 CNJ Conico Ltd 0.001 0% 0% -75% -86% $2,201,528 SLZ Sultan Resources Ltd 0.008 0% -20% -49% -80% $1,580,692 MLS Metals Australia 0.019 0% -5% -47% -41% $13,788,671 AS2 Askarimetalslimited 0.043 0% -22% -73% -86% $4,200,708 DTM Dart Mining NL 0.019 0% -5% 27% -51% $4,910,225 LSR Lodestar Minerals 0.001 0% -33% -58% -82% $2,600,780 TMB Tambourahmetals 0.049 0% -26% -48% -76% $4,064,077 TEM Tempest Minerals 0.008 0% -11% 20% -44% $4,347,011 WML Woomera Mining Ltd 0.003 0% 0% -67% -77% $3,654,417 KOR Korab Resources 0.007 0% 17% -56% -70% $2,569,350 EMN Euromanganese 0.068 0% -3% -8% -71% $14,827,361 AVW Avira Resources Ltd 0.001 0% 0% -50% -50% $2,938,790 CAI Calidus Resources 0.115 0% 0% -45% -41% $93,678,206 NWM Norwest Minerals 0.036 0% 44% 38% -41% $14,748,541 RAS Ragusa Minerals Ltd 0.016 0% -11% -58% -75% $2,281,581 AZI Altamin Limited 0.036 0% -8% -43% -54% $15,798,565 LNR Lanthanein Resources 0.004 0% 14% -56% -83% $9,774,545 CLZ Classic Min Ltd 0.001 0% -67% -98% -98% $1,006,928 PEK Peak Rare Earths Ltd 0.18 0% -12% -42% -66% $47,957,519 IDA Indiana Resources 0.085 0% 6% 8% 18% $53,921,558 TAR Taruga Minerals 0.009 0% 29% 13% -25% $6,354,241 DRE Dreadnought Resources Ltd 0.023 0% 10% -18% -62% $77,287,605 KFM Kingfisher Mining 0.062 0% -2% -56% -78% $3,330,330 KTA Krakatoa Resources 0.013 0% 8% -38% -64% $6,137,394 LNR Lanthanein Resources 0.004 0% 14% -56% -83% $9,774,545 BUR Burleyminerals 0.13 0% 18% -4% -26% $19,548,223 PBL Parabellumresources 0.04 0% 0% -34% -88% $2,492,000 OM1 Omnia Metals Group 0.078 0% 0% 0% -68% $4,550,568 LLL Leolithiumlimited 0.505 0% 0% 0% -56% $605,079,142 SRN Surefire Rescs NL 0.007 0% -13% -22% -56% $13,904,155 EG1 Evergreenlithium 0.058 0% 14% -54% -83% $3,261,340 PMT Patriotbatterymetals 0.505 -1% -23% -34% -67% $317,764,598 ARL Ardea Resources Ltd 0.46 -1% -10% 7% -36% $91,854,141 RNU Renascor Res Ltd 0.092 -1% 8% 5% -53% $236,349,317 CAE Cannindah Resources 0.057 -2% -2% -36% -62% $32,950,557 VR8 Vanadium Resources 0.055 -2% -14% 22% -29% $30,944,386 EMH European Metals Hldg 0.27 -2% -4% -18% -66% $56,010,070 1MC Morella Corporation 0.044 -2% -30% -56% -78% $10,874,737 MLX Metals X Limited 0.435 -2% 12% 67% 45% $421,390,471 COB Cobalt Blue Ltd 0.086 -2% 12% -57% -81% $36,269,779 SRZ Stellar Resources 0.0215 -2% 19% 231% 79% $41,747,664 KZR Kalamazoo Resources 0.075 -3% -10% -25% -50% $14,389,346 TVN Tivan Limited 0.056 -3% -19% -8% -22% $96,482,825 GT1 Greentechnology 0.071 -3% -5% -65% -89% $23,166,151 NTU Northern Min Ltd 0.033 -3% -6% 18% -8% $195,062,315 WR1 Winsome Resources 0.655 -3% -19% -6% -60% $144,943,909 SYR Syrah Resources 0.305 -3% -22% -27% -58% $315,641,989 SYR Syrah Resources 0.305 -3% -22% -27% -58% $315,641,989 NIC Nickel Industries 0.7975 -3% -6% 36% -5% $3,557,222,200 OMH OM Holdings Limited 0.42 -3% -3% -16% -24% $333,321,708 EV1 Evolutionenergy 0.028 -3% -15% -78% -86% $8,522,718 BM8 Battery Age Minerals 0.14 -3% -15% -24% -71% $13,023,380 IGO IGO Limited 5.71 -4% -6% -20% -61% $4,445,162,062 DYM Dynamicmetalslimited 0.135 -4% -10% -16% -53% $4,860,000 ILU Iluka Resources 6.4 -4% 0% -3% -42% $2,807,247,237 FGR First Graphene Ltd 0.052 -4% -4% -19% -40% $34,940,341 MRC Mineral Commodities 0.026 -4% 18% -26% -47% $25,596,288 LLI Loyal Lithium Ltd 0.13 -4% -33% -57% -59% $11,795,298 ANX Anax Metals Ltd 0.025 -4% -17% 4% -61% $17,974,245 BHP BHP Group Limited 41.85 -4% -2% -8% -7% $216,351,504,653 MIN Mineral Resources. 54.56 -4% -11% -7% -24% $10,973,598,847 DVP Develop Global Ltd 2.01 -4% -10% -3% -40% $536,751,448 PLS Pilbara Min Ltd 2.89 -4% -11% -16% -44% $8,969,973,496 L1M Lightning Minerals 0.065 -4% -6% -43% -64% $5,959,808 LYC Lynas Rare Earths 6.115 -4% 1% 2% -10% $5,851,335,838 KNI Kunikolimited 0.21 -5% 27% -16% -57% $18,655,393 JMS Jupiter Mines. 0.2575 -5% -14% 47% 29% $509,601,383 MQR Marquee Resource Ltd 0.01 -5% -17% -58% -73% $4,133,844 ETM Energy Transition 0.02 -5% -20% -52% -58% $28,088,542 RVT Richmond Vanadium 0.29 -5% -3% 7% -32% $25,862,342 NMT Neometals Ltd 0.077 -5% -23% -53% -84% $48,612,051 AUZ Australian Mines Ltd 0.0095 -5% 19% 19% -60% $12,586,609 AM7 Arcadia Minerals 0.038 -5% -24% -46% -68% $4,447,904 STM Sunstone Metals Ltd 0.0095 -5% -5% -21% -63% $38,519,036 NVX Novonix Limited 0.665 -5% -1% 10% -33% $327,657,190 OCN Oceanalithiumlimited 0.038 -5% -16% -52% -87% $3,134,924 ARR American Rare Earths 0.28 -5% 17% 100% 56% $135,966,407 GAL Galileo Mining Ltd 0.175 -5% -24% -20% -69% $34,584,362 WC8 Wildcat Resources 0.26 -5% -26% -46% 68% $319,739,539 S32 South32 Limited 3.42 -6% -6% 7% -12% $15,807,112,402 SCN Scorpion Minerals 0.017 -6% 6% -45% -77% $6,960,755 THR Thor Energy PLC 0.017 -6% 6% -56% -62% $3,995,417 IG6 Internationalgraphit 0.08 -6% 3% -45% -66% $15,484,666 GRL Godolphin Resources 0.016 -6% -16% -62% -62% $3,422,260 TKM Trek Metals Ltd 0.032 -6% 7% -20% -70% $16,431,132 IPT Impact Minerals 0.015 -6% -12% 25% 0% $48,950,939 LU7 Lithium Universe Ltd 0.015 -6% 0% -40% -50% $8,908,703 ARU Arafura Rare Earths 0.1825 -6% 11% 26% -43% $427,405,906 WCN White Cliff Min Ltd 0.014 -7% 0% -13% 27% $21,117,036 CNB Carnaby Resource Ltd 0.53 -7% 4% -27% -53% $89,407,368 CLA Celsius Resource Ltd 0.013 -7% 18% 18% -48% $33,990,778 TOR Torque Met 0.13 -7% -13% -38% -21% $23,842,494 ASL Andean Silver 0.895 -7% 24% 307% 198% $104,790,477 EUR European Lithium Ltd 0.049 -8% -6% -42% -44% $68,508,009 GLN Galan Lithium Ltd 0.1525 -8% -15% -73% -82% $75,786,319 QXR Qx Resources Limited 0.006 -8% -25% -71% -74% $6,660,467 PAT Patriot Lithium 0.047 -8% -16% -70% -84% $4,863,582 SUM Summitminerals 0.23 -8% -53% 109% 59% $16,172,536 CZN Corazon Ltd 0.0055 -8% -8% -61% -66% $3,673,481 PTR Petratherm Ltd 0.022 -8% 38% -33% -71% $4,979,037 WA1 Wa1Resourcesltd 15.63 -8% -4% 46% 172% $1,036,555,100 FRS Forrestaniaresources 0.032 -9% -38% 7% -73% $5,177,144 IXR Ionic Rare Earths 0.0105 -9% -5% -52% -54% $50,728,662 LRS Latin Resources Ltd 0.155 -9% -21% -30% -53% $447,907,114 AML Aeon Metals Ltd. 0.005 -9% -38% -50% -69% $5,482,003 PVT Pivotal Metals Ltd 0.02 -9% 18% -5% -5% $15,490,602 NVA Nova Minerals Ltd 0.2 -9% 0% -38% -35% $46,774,872 SRL Sunrise 0.525 -9% 35% 35% -64% $47,820,574 FBM Future Battery 0.027 -10% -27% -58% -75% $17,881,450 MRR Minrex Resources Ltd 0.009 -10% -10% -36% -40% $10,306,241 IMI Infinitymining 0.018 -10% -33% -86% -89% $2,137,561 ASO Aston Minerals Ltd 0.009 -10% -18% -55% -87% $11,655,578 DLI Delta Lithium 0.225 -10% 2% -22% -73% $164,083,643 ICL Iceni Gold 0.07 -10% 3% 30% -39% $19,093,274 QEM QEM Limited 0.13 -10% -7% -32% -42% $19,680,923 LMG Latrobe Magnesium 0.043 -10% -2% -21% -23% $99,905,275 SRI Sipa Resources Ltd 0.017 -11% 13% -32% -32% $3,878,688 CRR Critical Resources 0.008 -11% -11% -50% -85% $14,242,802 WSR Westar Resources 0.008 -11% -11% -55% -77% $3,189,799 VUL Vulcan Energy 4.13 -11% -1% 96% -12% $801,683,312 DEV Devex Resources Ltd 0.27 -11% -18% -5% -21% $123,533,388 KM1 Kalimetalslimited 0.19 -12% -36% -66% 0% $14,597,249 BOA Boadicea Resources 0.022 -12% 5% -33% -46% $2,713,763 LIN Lindian Resources 0.11 -12% 0% -27% -69% $132,586,057 NWC New World Resources 0.029 -12% -9% -28% -6% $82,232,837 ASN Anson Resources Ltd 0.14 -13% 41% 22% -15% $187,126,590 WIN WIN Metals 0.021 -13% -25% -77% -90% $6,702,277 CDT Castle Minerals 0.0035 -13% -46% -42% -75% $4,647,392 GW1 Greenwing Resources 0.048 -13% 17% -62% -78% $8,700,071 NC1 Nicoresourceslimited 0.13 -13% 0% -50% -73% $15,870,333 LPM Lithium Plus 0.13 -13% -21% -47% -57% $16,542,500 CHN Chalice Mining Ltd 1.115 -14% -18% 5% -81% $457,031,882 FTL Firetail Resources 0.076 -14% -3% 25% -12% $15,372,202 AXE Archer Materials 0.31 -14% -15% -7% -45% $81,551,044 ODE Odessa Minerals Ltd 0.003 -14% 0% -67% -70% $3,129,848 TMX Terrain Minerals 0.003 -14% -14% -40% -50% $4,295,012 FIN FIN Resources Ltd 0.006 -14% -33% -68% -60% $3,895,612 ASR Asra Minerals Ltd 0.006 -14% 50% 0% -37% $12,216,476 CTM Centaurus Metals Ltd 0.37 -15% -17% -8% -58% $178,625,041 AQD Ausquest Limited 0.011 -15% -15% 0% -31% $9,076,641 TLG Talga Group Ltd 0.46 -16% -19% -25% -66% $178,640,971 ASM Ausstratmaterials 0.69 -16% -12% -36% -44% $125,887,823 PGM Platina Resources 0.025 -17% 14% 25% -14% $15,579,508 BSX Blackstone Ltd 0.045 -17% -2% -32% -62% $25,215,414 MOH Moho Resources 0.005 -17% 43% -50% -64% $2,695,891 AOA Ausmon Resorces 0.0025 -17% -17% -17% -50% $2,647,498 PNN Power Minerals Ltd 0.12 -17% 4% -31% -68% $12,662,079 JLL Jindalee Lithium Ltd 0.29 -17% -10% -72% -85% $18,851,724 ENV Enova Mining Limited 0.009 -18% -40% -61% 50% $9,579,293 KOB Kobaresourceslimited 0.135 -18% -4% 35% -21% $22,198,626 LOT Lotus Resources Ltd 0.3025 -18% -17% -5% 51% $567,847,741 HXG Hexagon Energy 0.013 -19% 18% 30% 18% $6,667,907 WMG Western Mines 0.25 -19% -28% 32% -58% $20,225,269 HAS Hastings Tech Met 0.34 -20% 26% -47% -71% $63,289,147 ADD Adavale Resource Ltd 0.004 -20% -20% -50% -81% $4,261,061 TKL Traka Resources 0.0015 -25% 0% -25% -81% $2,625,988 CTN Catalina Resources 0.003 -25% 0% -14% 0% $3,715,461 ENT Enterprise Metals 0.003 -25% -25% -25% -40% $2,654,163 YAR Yari Minerals Ltd 0.003 -25% -25% -73% -79% $1,447,073 MHC Manhattan Corp Ltd 0.0015 -25% -25% -63% -85% $4,405,470 PAM Pan Asia Metals 0.08 -27% -50% -48% -66% $16,696,651 ITM Itech Minerals Ltd 0.075 -32% 19% -23% -67% $9,171,267 AX8 Accelerate Resources 0.014 -33% -69% -53% -33% $8,690,555 GCM Green Critical Min 0.003 -33% 0% -57% -82% $4,159,755 RIL Redivium Limited 0.0015 -50% -50% -79% -86% $8,192,564 VIA Viagold Rare Earth 0 -100% -100% -100% -100% $166,624,808 LPI Lithium Pwr Int Ltd 0 -100% -100% -100% -100% $361,898,974 AZS Azure Minerals 0 -100% -100% -100% -100% $1,692,527,632 GSR Greenstone Resources 0 -100% -100% -100% -100% $15,761,980 ESS Essential Metals Ltd 0 -100% -100% -100% -100% $135,278,382 AVZ AVZ Minerals Ltd 0 -100% -100% -100% -100% $2,752,409,203 AKE Allkem Limited 0 -100% -100% -100% -100% $6,304,350,967 MCR Mincor Resources NL 0 -100% -100% -100% -100% $751,215,521 TMT Technology Metals 0 -100% -100% -100% -100% $67,134,856 FFX Firefinch Ltd 0 -100% -100% -100% -100% $236,569,315
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Miramar Resources has reported up to 5.48% copper, 54.5% lead and 73.48g/t silver from the initial sampling program at its new Chain Pool project in the Gascoyne region of WA.
The company picked up Chain Pool late last year, a historical uranium occurrence first identified in the 1970s as similar to Namibia’s Rössing deposit (one of the longest continually operating uranium mines in the world).
The company reckons the area remains prospective for various commodities and deposit types including uranium and/or REE mineralisation – and potentially nickel-copper-PGE mineralisation.
And that theory is proving correct, with results from sampling completed during an initial reconnaissance field trip to the new project’s Joy Helen prospect including:
5.49% copper, 42.0% lead and 73.48g/t silver; and
5.43% copper, 36.7% lead, 36g/t silver and 0.27% zinc.
The Joy Helen prospect contains historic workings and costeans over a strike length of around 400m, but hasn’t had any modern and/or systematic exploration.
The company has received commitments from institutional and sophisticated investors for a $3m placement at $0.035 per share to fund due diligence on potential project opportunities in battery metals.
“Outside of our strong lithium portfolio, these funds will assist Cygnus in assessing project acquisition opportunities in the battery metals sector, including copper,” MD David Southam said.
This follows successful project acquisitions by Firefly Metals (ASX:FFM) and Andean Silver (ASX:ASL), both of which are closely associated with Cygnus’ major shareholder and board members.
Existing cash reserves prior to the placement will be utilised to complete flow-through exploration expenditure commitments for lithium in James Bay, Quebec, principally at Auclair and Sakami.
Cygnus also expects to conduct a small follow-up exploration program on the copper-gold anomaly identified at its Snake Rock project in WA, which will be co-funded by the State Government.
Assays from reverse circulation drilling at the company’s Pegasus prospect at the Lake Johnston lithium and nickel project in WA have returned a peak 6m composite with Li2O results of 303.8ppm.
“The assay results from Pegasus have confirmed lithium mineralisation in the area that we have drilled, and that we are drilling in a fertile LCT system,” CEO Ashley Jones said.
“Further assays from 1m intervals through areas of interest will be undertaken and help to build out the picture of the anomalism that we have found so far.
“The Lake Johnston area is highly prospective for lithium, and we will continue the approvals process to further explore the Sphinx prospect and the Roundbottom prospect where pegmatites are outcropping.”
The Lake Johnston area continues to grow as a prospective lithium corridor with significant discoveries made by Charger Metal’s (ASX CHR) Medcalf discovery and TG Metal’s Burmeister project.
Recent metallurgical test work by Bureau Veritas Minerals has achieved a successful open-cycle niobium recovery level of 62.4% from a sample taken from the company’s Kameelburg niobium-REE project in Namibia.
The explorer says the results are in line with recovery levels by developing mining explorers and producers in the global niobium space and have boosted its confidence ahead of maiden drilling that’s targeting rich niobium dykes across the tenure.
Preparations for a diamond drill rig and relevant personnel are advancing, with the initial drill program targeted to commence at the end of Q3, subject to regulatory approvals.
At Stockhead we tell it like it is. While Miramar Resources is a Stockhead advertiser, it did not sponsor this article.
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