TG Metals strengthens balance sheet as interest heats up for Lake Johnston lithium opportunities
Nickelsearch resets its focus to a commodity being mined just 10km down the road from its Carlingup project
Despite being issued with a speeding ticket, ASX newcomer Chariot Corporation continues its price charge
The best-performing lithium stock of November will round out the penultimate month of the year with a $10 million capital raising to advance the spodumene discovery which has triggered the latest pegmatite pegging rush in Western Australia.
TG Metals (ASX: TG6) today emerged from a trading halt with firm commitments for a $10 million placement to advance the recent high-grade lithium discovery at its Lake Johnston project, about 450km east of Perth.
It continues a remarkable rise for the lithium convert originally known as the “Tethered Goat” over the past month with its share price surging some 860% since reporting grades of up to 2.28% Li2O from the first holes drilled into the Burmeister lithium soil anomaly in the final days of October.
The drill rigs are still turning at Burmeister with the next assays from the current 4,000m RC and diamond program expected in the next fortnight. Infill and extensional soil sampling is also planned for the recently announced 5.7km by 2.3km lithium soil anomaly identified at the Jaegermeister prospect.
TG6 chairperson Richard Bevan described the past month as “the most exciting time in the relatively short life” of the company.
“We are very pleased to have received such strong support for the placement, which is a testament to the significance of our recent high-grade spodumene pegmatite discovery at the Burmeister prospect and our broader Lake Johnston project,” he said.
“With a significantly strengthened balance sheet, we now look to progressing an expansive exploration campaign aimed at pursuing the considerable opportunities identified within the project.”
Lake Johnston flowing with lithium
TG6 is not the only explorer in the once nickel-dominant Lake Johnston area to have emerged from seemingly nowhere in the past month with Charger Metals (ASX: CHR) also adding 56% to its stock value over recent weeks after inking a lucrative farm-in agreement with Rio Tinto’s (ASX: RIO) exploration arm.
Rio Tinto Exploration (RTX) can earn up to 75% of the CHR’s own Lake Johnston project (located just a stone’s throw from TG6 project of the same name) via a stage exploration spend totalling $42.5 million.
It remains to be seen whether Poseidon Nickel (ASX: POS) decides to double check the spodumene potential at the historical Emily Ann and Maggie Hays nickel mines, which are the cornerstone of the “original” Lake Johnston project.
Another company that’s turned its focus from nickel to lithium with immediate success is Nickelsearch (ASX: NIS). The company is up 40% over the past week and 180% for the month and today bolstered its bank balance by $2.43 million after receiving early exercise notices for nearly 6 million options.
NIS has reported grades of up to 5.19% Li2O at its Carlingup project, located just 10km from Allkem’s (ASX: AKE) operating Mt Cattlin lithium mine.
Could a company name change be on the cards?
Lithium love affair continues amid price plummet
Despite lithium prices still down almost 80% from its mountainous peak, the market’s love affair for all things spodumene, pegmatite, or the corny “white gold”, remains strong.
With just over a month remaining in 2023, a quick look at the 188 ASX-listed companies with a lithium project (including those with even the most remote of interests) shows 87 are currently sitting in the green for share prices increases over the course of this year, with 13 more holding flat.
Undoubtedly the biggest gainer over the past week is ASX newcomer Chariot Corporation (ASX: CC9) which touched $1.36 last week, having overcome an uninspiring start to life on the public boards when it joined the ASX on October 27.
Despite having no news for the past three weeks, US-focused CC9 was hit with a speeding ticket last Monday.
CC9 managing director Shanthar Pathmanathan recently told Stockhead’s Reuben Adams the company’s Black Mountain project in Wyoming “looks like Liontown’s (ASX: LTR) Kathleen Valley before it was drilled”.
‘Spot prices’ check-in
A quick look at the ‘Lithium Price Bot’ tells us… yep, lithium prices are still in the doldrums for now.
2023-11-27#Lithium Carbonate 99.5% Min China Spot
Price: $18,942.90
1 day: $349.50 (-1.81%)
YTD: -74.30%#Spodumene Concentrate (6%, CIF China)
Price: $1,850.00
1 day: -25 (-1.33%)
YTD: -68.24%
Sponsored by @SiennaResources $SIE $SNNAFhttps://t.co/U2nY1ABt3D
— Lithium Price Bot (@LithiumPriceBot) November 27, 2023
Who’s Hot ?
The week’s biggest gains
Chariot Corporation (ASX:CC9) +210%
Nickelsearch (ASX:NIS) +40%
Riversgold (ASX:RGL) +30%
Who’s Not ?
The week’s biggest falls
Asra Minerals (ASX:ASR) -33%
Bryah Resources (ASX:BYH) -30%
Greenwing Resources (ASX:GW1) -27%
Here’s how ASX lithium stocks are tracking intraday Monday:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.
Stocks missing from this list? Email [email protected]
CODE COMPANY % WEEK % MONTH % YTD PRICE MARKET CAP TG6 Tgmetals 28% 860% 726% 0.95 $41,104,160 KGD Kula Gold 28% 185% 48% 0.037 $16,774,631 NIS Nickelsearch 40% 180% -12% 0.14 $25,973,132 AZL Arizona Lithium -14% 177% -33% 0.0415 $149,345,371 FL1 First Lithium 23% 165% 261% 0.65 $46,234,100 KTA Krakatoa Resources 14% 158% 11% 0.049 $21,309,998 MHK Metalhawk -15% 129% 18% 0.195 $16,045,111 WML Woomera Mining -18% 119% 21% 0.023 $31,036,058 OBM Ora Banda Mining 8% 86% 144% 0.205 $332,561,749 ZNC Zenith Minerals 0% 74% -38% 0.165 $58,142,846 AZS Azure Minerals -1% 64% 1676% 3.995 $1,830,131,504 OZM Ozaurum Resources -21% 60% 97% 0.13 $21,431,250 BNR Bulletin Resources -3% 57% 77% 0.165 $46,974,576 GRE Greentechmetals -19% 56% 289% 0.545 $37,568,533 CHR Charger Metals -26% 56% -37% 0.28 $15,839,164 RDN Raiden Resources -26% 52% 953% 0.05 $142,117,641 RGL Riversgold 30% 50% -50% 0.015 $13,317,660 JBY James Bay Minerals 0% 46% 0% 0.395 $12,978,000 WYX Western Yilgarn -15% 45% -15% 0.11 $6,207,188 INF Infinity Lithium 4% 45% 0% 0.12 $55,511,051 EFE Eastern Resources 0% 43% -66% 0.01 $13,661,411 RON Roninresources -2% 41% 24% 0.205 $6,839,619 RLC Reedy Lagoon Corp. 17% 40% -28% 0.007 $4,316,785 QXR Qx Resources 7% 36% -29% 0.03 $33,171,836 LRD Lordresources 9% 35% -50% 0.084 $3,119,098 RAS Ragusa Minerals -15% 35% -60% 0.046 $6,274,347 KZR Kalamazoo Resources 9% 34% -40% 0.125 $21,421,184 IEC Intra Energy Corp 0% 33% -50% 0.004 $8,303,908 1MC Morella Corporation 8% 30% -46% 0.0065 $43,145,149 WC8 Wildcat Resources 7% 29% 3504% 0.865 $1,093,336,208 MRR Minrex Resources -18% 28% -36% 0.0205 $22,782,218 ADVDB Ardiden 2% 28% -27% 0.22 $13,129,080 MXR Maximus Resources -2% 26% 20% 0.048 $16,030,288 FG1 Flynngold 14% 26% -18% 0.082 $11,183,372 BMM Balkanminingandmin -14% 24% -53% 0.155 $10,665,112 SUM Summitminerals -4% 24% -21% 0.115 $5,480,570 AX8 Accelerate Resources -21% 24% 83% 0.042 $21,712,101 LPM Lithium Plus -4% 22% 26% 0.465 $39,984,513 VKA Viking Mines 0% 22% 10% 0.011 $12,303,101 MAN Mandrake Res 8% 21% 3% 0.041 $26,477,677 THR Thor Energy 7% 20% -50% 0.03 $5,594,769 MQR Marquee Resource -9% 19% -16% 0.031 $12,814,916 TOR Torque Met 12% 19% 6% 0.19 $25,530,196 MTM MTM Critical Metals -4% 18% -67% 0.026 $2,483,427 FIN FIN Resources -16% 18% 37% 0.026 $17,527,555 SBR Sabre Resources -15% 18% 3% 0.039 $15,001,928 KOB Kobaresources -1% 18% -44% 0.079 $8,433,333 EUR European Lithium 1% 17% 9% 0.081 $110,144,895 LNR Lanthanein Resources -13% 17% -67% 0.007 $7,851,029 CY5 Cygnus Metals -13% 17% -63% 0.14 $42,232,575 CAI Calidus Resources 0% 16% -33% 0.18 $106,791,476 A11 Atlantic Lithium -3% 16% -17% 0.515 $318,365,663 L1M Lightning Minerals 3% 15% -6% 0.155 $6,122,634 TEM Tempest Minerals -11% 14% -65% 0.008 $4,091,068 ASR Asra Minerals -33% 14% -60% 0.008 $11,649,645 PAT Patriot Lithium -2% 14% -25% 0.2 $14,388,598 SRI Sipa Resources 19% 14% -22% 0.025 $5,703,953 PGD Peregrine Gold 14% 13% -17% 0.32 $18,107,712 EMS Eastern Metals -13% 13% -53% 0.035 $2,884,919 G88 Golden Mile Res -5% 11% 3% 0.021 $6,917,180 RIO Rio Tinto 0% 10% 8% 125.31 $47,070,215,935 IPT Impact Minerals 0% 10% 57% 0.011 $31,511,743 MIN Mineral Resources. -1% 9% -19% 62.71 $12,495,835,121 MMC Mitremining -6% 7% -20% 0.225 $10,430,523 YAR Yari Minerals 0% 7% -6% 0.016 $7,235,367 STM Sunstone Metals 0% 7% -57% 0.016 $55,475,728 TYX Tyranna Res 0% 6% -29% 0.017 $55,869,231 GL1 Globallith 4% 6% -29% 1.3125 $338,056,159 NKL Nickelx -2% 6% -29% 0.057 $5,093,280 MLS Metals Australia 0% 6% -15% 0.038 $24,337,411 PSC Prospect Res 1% 5% -17% 0.1 $45,869,864 JNO Juno -4% 5% -14% 0.082 $14,364,867 LRV Larvottoresources -13% 5% -34% 0.105 $7,061,746 IMI Infinitymining -4% 4% -55% 0.125 $9,732,465 PNN Power Minerals -4% 4% -53% 0.25 $21,804,328 TMB Tambourahmetals 13% 4% 29% 0.135 $11,196,948 LPI Lithium Pwr Int 1% 3% 23% 0.54 $343,626,288 AS2 Askarimetals -3% 3% -57% 0.185 $14,309,789 BM8 Battery Age Minerals 0% 2% -56% 0.22 $20,501,484 HAW Hawthorn Resources 0% 2% -19% 0.093 $31,826,483 TKM Trek Metals -6% 2% -38% 0.047 $22,393,804 WES Wesfarmers -2% 2% 13% 52.1 $59,374,180,399 CC9 Chariot Corporation 210% 0% 0% 1.24 $72,598,252 WCN White Cliff Min 0% 0% -14% 0.012 $14,042,153 AVZ AVZ Minerals 0% 0% 0% 0.78 $2,752,409,203 AAJ Aruma Resources -11% 0% -38% 0.033 $6,497,420 RAG Ragnar Metals 0% 0% 101% 0.023 $10,901,562 AVW Avira Resources 0% 0% -50% 0.0015 $3,200,685 AOA Ausmon Resorces 0% 0% -57% 0.003 $3,020,998 VMC Venus Metals Cor 0% 0% 27% 0.1 $18,972,868 WMC Wiluna Mining Corp 0% 0% 0% 0.205 $74,238,031 LLL Leolithium 0% 0% 4% 0.505 $498,553,663 XTC Xantippe Res 0% 0% -67% 0.001 $17,528,005 ADG Adelong Gold 17% 0% 0% 0.007 $4,174,256 BYH Bryah Resources -30% 0% -45% 0.014 $5,379,079 DYM Dynamicmetals -14% 0% 0% 0.16 $6,300,000 LIT Lithium Australia -9% -2% -33% 0.03 $36,665,750 VUL Vulcan Energy -10% -2% -64% 2.29 $390,605,728 GT1 Greentechnology -4% -3% -53% 0.385 $104,935,401 LLO Lion One Metals 0% -3% -15% 1 $14,101,286 NWM Norwest Minerals 0% -3% -43% 0.031 $8,914,655 INR Ioneer -6% -3% -59% 0.155 $348,383,004 OCN Oceanalithium -12% -3% -58% 0.145 $6,899,945 FRS Forrestaniaresources 0% -3% -79% 0.029 $4,530,001 WR1 Winsome Resources -4% -3% -7% 1.145 $192,690,623 PL3 Patagonia Lithium 0% -3% 0% 0.14 $6,860,490 CRR Critical Resources -10% -4% -40% 0.026 $46,224,107 GW1 Greenwing Resources -27% -4% -60% 0.11 $20,910,178 ARN Aldoro Resources -1% -5% -48% 0.084 $11,308,394 LEL Lithenergy -2% -5% -29% 0.55 $55,625,400 AM7 Arcadia Minerals -6% -6% -59% 0.085 $9,269,259 CMD Cassius Mining -3% -6% 70% 0.034 $17,385,487 CXO Core Lithium -13% -6% -68% 0.33 $737,242,763 PLS Pilbara Min 0% -6% -5% 3.565 $10,954,444,082 GLN Galan Lithium -13% -6% -43% 0.615 $224,296,148 ASN Anson Resources -9% -6% -19% 0.15 $192,860,875 MM1 Midasminerals 0% -6% -25% 0.15 $13,012,087 AUN Aurumin 24% -7% -57% 0.026 $8,279,520 AGY Argosy Minerals 17% -8% -69% 0.175 $224,705,200 PMT Patriotbatterymetals 3% -9% 42% 1.065 $418,541,060 AZI Altamin -7% -9% -33% 0.053 $20,369,271 ICL Iceni Gold 5% -9% -24% 0.061 $14,391,429 EPM Eclipse Metals 11% -9% -38% 0.01 $20,438,042 ALY Alchemy Resource 0% -9% -57% 0.01 $11,780,763 DAL Dalaroometals -6% -9% -70% 0.03 $2,448,000 VSR Voltaic Strategic -9% -9% -15% 0.02 $9,662,078 NVA Nova Minerals 0% -9% -65% 0.24 $51,668,040 LSR Lodestar Minerals 13% -10% -10% 0.0045 $9,105,288 FTL Firetail Resources -9% -10% -44% 0.09 $13,401,500 OLY Olympio Metals -4% -10% -7% 0.135 $8,585,932 A8G Australasian Metals -5% -10% -8% 0.175 $8,078,677 PFE Panteraminerals -10% -10% -45% 0.06 $6,424,353 PLL Piedmont Lithium Inc 0% -11% -35% 0.42 $158,083,824 EMH European Metals Hldg 1% -11% -5% 0.605 $79,930,444 DRE Dreadnought Resources -3% -11% -70% 0.032 $110,622,250 DAF Discovery Alaska 0% -11% -50% 0.016 $3,747,755 TMX Terrain Minerals -11% -11% -33% 0.004 $5,413,711 TON Triton Min -8% -12% -36% 0.023 $35,911,271 QPM Queensland Pacific -9% -12% -52% 0.053 $110,689,717 EG1 Evergreenlithium -8% -12% 0% 0.18 $10,121,400 RMX Red Mount Min 0% -13% -30% 0.0035 $9,357,516 SCN Scorpion Minerals -6% -13% -31% 0.048 $19,521,897 BUR Burleyminerals -6% -13% -25% 0.165 $15,194,513 LLI Loyal Lithium -17% -14% 22% 0.36 $32,161,342 NMT Neometals -11% -14% -71% 0.225 $124,494,286 DTM Dart Mining NL -16% -15% -71% 0.016 $3,676,036 SRZ Stellar Resources -6% -15% -35% 0.0085 $9,334,585 ANX Anax Metals 0% -15% -47% 0.028 $12,984,776 SYA Sayona Mining -12% -15% -63% 0.0695 $741,117,313 AML Aeon Metals 22% -15% -59% 0.011 $13,156,807 PLN Pioneer Lithium -2% -16% 0% 0.265 $7,532,625 EMC Everest Metals Corp -10% -16% 11% 0.088 $14,042,347 LIS Lisenergy -9% -17% -38% 0.2 $131,241,047 DLI Delta Lithium -2% -17% 3% 0.475 $303,012,472 SGQ St George Min -13% -18% -51% 0.033 $33,458,943 AKE Allkem -4% -18% -25% 8.38 $5,408,658,139 LKE Lake Resources -11% -18% -82% 0.1475 $213,366,706 FBM Future Battery 7% -18% 45% 0.077 $40,792,479 GSM Golden State Mining -25% -18% -58% 0.018 $4,299,485 LPD Lepidico -6% -19% -47% 0.0085 $64,925,618 EVR Ev Resources -13% -19% -25% 0.0105 $9,545,883 TKL Traka Resources 0% -20% -50% 0.004 $3,501,317 MHC Manhattan Corp 0% -20% -27% 0.004 $11,747,919 IR1 Irismetals -9% -20% 14% 1.32 $165,758,750 SLM Solisminerals -15% -21% 127% 0.17 $13,623,524 REC Rechargemetals -15% -21% -19% 0.11 $12,248,717 IGO IGO -4% -22% -37% 8.5 $6,618,520,686 LM1 Leeuwin Metals 2% -22% 0% 0.225 $10,076,625 KAI Kairos Minerals -9% -23% -26% 0.0155 $39,313,683 PAM Pan Asia Metals 0% -23% -62% 0.155 $25,888,322 LTR Liontown Resources -8% -23% 3% 1.3625 $3,368,972,334 CTN Catalina Resources -25% -25% -70% 0.003 $3,715,461 ENT Enterprise Metals -25% -25% -70% 0.003 $2,398,413 MNS Magnis Energy Tech -8% -26% -85% 0.055 $69,570,893 LRS Latin Resources -15% -27% 86% 0.1825 $540,638,709 AL8 Alderan Resource 0% -30% 0% 0.007 $8,301,460 JRL Jindalee Resources -10% -31% -50% 0.94 $60,616,693 M2R Miramar -21% -44% -75% 0.019 $3,275,130 CODE COMPANY % WEEK % MONTH % YTD PRICE MARKET CAP TG6 Tgmetals 28% 860% 726% 0.95 $41,104,160 KGD Kula Gold 28% 185% 48% 0.037 $16,774,631 NIS Nickelsearch 40% 180% -12% 0.14 $25,973,132 AZL Arizona Lithium -14% 177% -33% 0.0415 $149,345,371 FL1 First Lithium 23% 165% 261% 0.65 $46,234,100 KTA Krakatoa Resources 14% 158% 11% 0.049 $21,309,998 MHK Metalhawk -15% 129% 18% 0.195 $16,045,111 WML Woomera Mining -18% 119% 21% 0.023 $31,036,058 OBM Ora Banda Mining 8% 86% 144% 0.205 $332,561,749 ZNC Zenith Minerals 0% 74% -38% 0.165 $58,142,846
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