Eye on Lithium: FBM holds the gains fort on bloody day for the battery metal

Liontown leads the lithium losers on a bloody day for white gold
Even 2023 stonker Wildcat is taking a double-digits hit
Thanks, Future Battery Minerals, for some kind of silver lining today

Your lithium roundup for Monday January 22.

Lithium-sector investors, don’t look too closely at the “TODAY” column on the chart further below, if you’re not a horror fan.

At time of writing, it’s not been a good day in the slightest for many a prominent local lithium stock. And for several flying under the radar, too.

Leading the gloom right now? The Gina Rinehart-backed Liontown Resources with a -20% bleed. At one stage last year, this lithium developer looked like being one of the success stories of 2023 with a $6.6bn takeover package from Albemarle in the works.

Intervention from Rinehart and Hancock Prospecting put paid to that idea, although perhaps the absolute reaming lithium spot pricing has taken over the past year and consequently the sector more broadly, might’ve also been at last-minute play there, too.

Albemarle has since sold its minority LTR stake to raise $120m as it conserves cash amid an 80% drop in lithium prices.

As Stockhead‘s Josh Chiat wrote in Ground Breakers earlier, it’s been a rough day for one-time market whisperer Tim Goyder and the lithium developer he chairs, LTR.

The dump followed the company’s reveal to its investors of the collapse of a $760m funding package (from financiers including ANZ, CommBank, NAB, HSBC, Societe Generale and more) for its Kathleen Valley lithium mine and the deferment of a planned ramp up from 3Mtpa to 4Mtpa.

This comes as LTR said it would defer plans to expand the scale of its Kathleen Valley mine from an initial 3Mtpa underground mine to 4Mtpa, in response to collapsing lithium prices.

Josh added:

“Goyder is also the top shareholder in Chalice and used to be its chairman, but has seen the value of his investments go south since last year, when intervention from Gina Rinehart scuppered a $6.6 billion takeover of Liontown from Albemarle that would have netted him almost $1b in cash.”

Ouch.

Rinehart and her Hancock Prospecting’s stake in LTR, which she spent some $1.3b building to a 20% position to block Albemarle, is now down about 70%.

Double ouch.

So A$ 760m debt funding package failed for $LTR on deterioration of spodumene price forecasts. Current market conditions make capital raising even more difficult for lithium miners. pic.twitter.com/rcnMP9idul

— Andrey Prykhodko (@Andr_rej) January 21, 2024

Meanwhile, other lithium notables, including Sayona Mining (ASX:SYA), Mineral Resources (ASX:MIN) and last year’s major success story Wildcat Resources (ASX:WC8) also took a hit.

Any positivity? Over to you, FBM

Right then, what’s the good news? There aren’t many Monday success stories for Li on the bourse, but here’s one – Future Battery Minerals (ASX:FBM) with a near double digit gain.

And that’s thanks to what it highlighted this morning as “thick, high-grade intervals” that have reportedly confirmed the significant extension of mineralisation at the company’s flagship Nevada lithium project in the US.

Highlights include 66m at 1,001 ppm Li from 216m, and 23m at 1,081 ppm Li from 182m.

Two of the three holes ended in mineralisation, it says, and a maiden resource is due out in the current quarter.

FMB is a clay lithium hopeful. Stockhead’s Reuben Adams noted earlier in Resources Top 4:

“Unlike hard rock spodumene or brines, clay lithium deposits have yet to be mined successfully. Lithium America’s advanced 19Mt Thacker Pass development, in the same neighbourhood as FBM, could be the first.”

Monday: FULLY CHARGED

Flynn Gold (ASX:FG1) +18%

FG1 is actually up on a high-grade gold-cobalt-tungsten intersection made at the Firetower project in NW Tasmania.

Koba Resources (ASX:KOB) +17%

Annnd, okay, this one’s charging more on a likely uranium pivot today.

Asra Minerals (ASX:ASR) +17%

Up on no news.

Wednesday: RUNNING LOW

Liontown Resources (ASX:LTR) -20%

Critical Minerals Group (ASX:CMG) -18%

Wildcat Resources (ASX:WC8) -17%

ASX lithium form guide:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at 3pm.)

Stocks missing from this list? Email [email protected] and [email protected]

CODE COMPANY TODAY WEEK 1 MONTH % 12 MONTH % PRICE MARKET CAP ADV Ardiden Ltd -9% -6% -3% -53% 0.16 $10,940,564 AGY Argosy Minerals Ltd -11% -22% -27% -85% 0.098 $154,484,825 1MC Morella Corporation 0% -27% -20% -73% 0.004 $24,715,198 AML Aeon Metals Ltd. 0% 0% 0% -68% 0.009 $9,867,606 ASN Anson Resources Ltd -10% -14% -29% -46% 0.099 $141,431,309 AVZ AVZ Minerals Ltd 0% 0% 0% 0% 0.78 $2,752,409,203 CXO Core Lithium -2% -2% -35% -80% 0.205 $448,756,464 EMH European Metals Hldg -2% -10% -41% -54% 0.3 $38,501,832 EUR European Lithium Ltd 0% -11% 21% 5% 0.085 $118,510,330 GLN Galan Lithium Ltd -5% -13% -4% -55% 0.525 $196,177,115 INF Infinity Lithium -6% 0% -4% -23% 0.092 $45,334,025 INR Ioneer Ltd -2% -17% -17% -77% 0.1125 $242,812,397 JLL Jindalee Lithium Ltd -3% 12% 33% -42% 1.11 $69,563,635 LIT Lithium Australia 0% -6% -3% -40% 0.029 $35,443,558 LKE Lake Resources 0% -13% -26% -88% 0.1 $142,244,471 LPD Lepidico Ltd -7% -7% -19% -61% 0.0065 $53,468,156 LPI Lithium Pwr Int Ltd -1% -1% 1% 19% 0.555 $358,696,328 LTR Liontown Resources -20% -35% -41% -36% 0.96 $2,894,271,782 MIN Mineral Resources. -9% -16% -22% -40% 52.92 $11,350,090,788 MLS Metals Australia 0% 0% 0% -32% 0.034 $21,217,230 AKE Allkem Limited 0% -100% -100% -100% 0 $6,304,350,967 PLL Piedmont Lithium Inc -6% -21% -39% -69% 0.2675 $109,983,923 PLS Pilbara Min Ltd -4% -11% -14% -17% 3.32 $10,442,853,769 QPM Queensland Pacific -11% -23% -22% -65% 0.04 $90,564,314 PSC Prospect Res Ltd -7% -5% -4% -30% 0.08 $39,846,549 RLC Reedy Lagoon Corp. 0% 0% 0% -53% 0.005 $3,097,704 SYA Sayona Mining Ltd -7% -24% -35% -83% 0.042 $463,198,321 TKL Traka Resources 0% 0% -27% -72% 0.002 $1,750,659 TON Triton Min Ltd -9% -9% -5% -43% 0.02 $34,350,639 VUL Vulcan Energy -4% -8% -24% -72% 1.98 $356,191,127 GL1 Globallith -5% -26% -57% -75% 0.53 $144,447,241 BMM Balkanminingandmin -2% -2% -15% -67% 0.098 $7,104,051 LEL Lithenergy -8% -12% -21% -41% 0.46 $51,505,000 ARN Aldoro Resources 3% -17% -1% -64% 0.082 $10,769,899 NMT Neometals Ltd -9% -25% -27% -83% 0.15 $102,743,902 IGO IGO Limited -3% -14% -22% -51% 6.955 $5,452,328,254 AAJ Aruma Resources Ltd 0% -4% -7% -74% 0.025 $4,922,288 PAM Pan Asia Metals 10% 0% 27% -58% 0.165 $25,172,517 AX8 Accelerate Resources -9% -20% -34% -2% 0.0265 $16,619,951 AM7 Arcadia Minerals 0% 0% -1% -69% 0.07 $7,633,507 AS2 Askarimetalslimited 0% -18% -20% -80% 0.14 $10,913,030 BYH Bryah Resources Ltd -8% -8% 0% -51% 0.012 $5,636,894 EMS Eastern Metals 0% 0% 9% -59% 0.036 $2,967,345 FG1 Flynngold 18% 4% 16% -44% 0.059 $7,286,213 FRS Forrestaniaresources 0% -12% 4% -83% 0.029 $4,691,787 GSM Golden State Mining -8% -15% -27% -76% 0.011 $3,352,448 IMI Infinitymining 4% 13% -16% -48% 0.135 $15,437,941 LRV Larvottoresources -3% -3% -14% -61% 0.064 $14,758,369 MMC Mitremining -7% -18% -16% -28% 0.205 $12,471,278 RAG Ragnar Metals Ltd -4% -8% 0% 77% 0.022 $10,901,562 CTN Catalina Resources 0% -25% -25% -63% 0.003 $3,715,461 TMB Tambourahmetals -2% -17% -21% -21% 0.091 $7,713,453 TEM Tempest Minerals 0% -11% 0% -72% 0.008 $4,152,995 EMC Everest Metals Corp 1% -2% 0% -20% 0.079 $12,736,083 WCN White Cliff Min Ltd -11% 70% 89% 42% 0.017 $24,260,328 WML Woomera Mining Ltd 0% -69% -71% -58% 0.008 $9,745,112 AZL Arizona Lithium Ltd -4% -7% -39% -63% 0.025 $97,678,643 CRR Critical Resources -18% -30% -30% -67% 0.014 $30,223,455 KGD Kula Gold Limited 0% -19% -19% -57% 0.013 $5,451,755 LRS Latin Resources Ltd -15% -26% -28% 48% 0.17 $559,251,240 PNN Power Minerals Ltd 3% -3% -12% -64% 0.185 $15,727,698 WR1 Winsome Resources -10% -23% -44% -66% 0.61 $129,733,835 KZR Kalamazoo Resources 1% -29% -4% -55% 0.096 $16,436,693 MTM MTM Critical Metals 1% -23% 59% -16% 0.07 $6,861,159 QXR Qx Resources Limited -5% -9% -13% -61% 0.02 $23,311,635 SCN Scorpion Minerals 0% 3% -11% -57% 0.031 $12,693,142 AZI Altamin Limited 5% 2% 22% -18% 0.061 $24,831,073 ENT Enterprise Metals 0% 0% 0% -60% 0.004 $3,207,884 KAI Kairos Minerals Ltd 8% 0% -13% -38% 0.014 $34,071,858 STM Sunstone Metals Ltd -8% -8% -20% -71% 0.012 $45,340,553 PGD Peregrine Gold -6% 2% 40% -32% 0.3 $21,438,874 AVW Avira Resources Ltd 0% 0% 33% -33% 0.002 $4,267,580 NVA Nova Minerals Ltd 3% 0% -9% -50% 0.34 $69,593,687 GT1 Greentechnology -11% -23% -32% -81% 0.17 $60,277,898 BNR Bulletin Res Ltd -10% -30% -21% -10% 0.095 $30,829,399 CAI Calidus Resources 3% -7% 17% -49% 0.205 $122,464,197 MRR Minrex Resources Ltd 0% 0% -12% -61% 0.015 $16,273,013 A8G Australasian Metals 0% -4% -4% -34% 0.135 $7,036,267 EFE Eastern Resources 0% 0% 0% -56% 0.008 $9,935,572 MQR Marquee Resource Ltd -13% -26% -20% -47% 0.02 $9,507,841 SRZ Stellar Resources 0% 17% -7% -50% 0.007 $8,043,185 LSR Lodestar Minerals 0% -25% 0% -40% 0.003 $6,070,192 NWM Norwest Minerals 0% -7% -7% -58% 0.025 $7,189,238 AOA Ausmon Resorces 0% 0% 0% -57% 0.003 $3,020,998 VKA Viking Mines Ltd 0% -13% 0% 63% 0.013 $13,328,360 IPT Impact Minerals 4% 4% 32% 25% 0.0125 $34,376,447 SRI Sipa Resources Ltd 0% 0% -4% -24% 0.025 $5,703,953 VMC Venus Metals Cor Ltd 0% -4% -7% 12% 0.098 $18,593,411 RGL Riversgold 0% -17% -17% -66% 0.01 $9,676,615 ZNC Zenith Minerals Ltd 0% 6% 10% -35% 0.165 $58,142,846 RAS Ragusa Minerals Ltd -8% -8% -5% -71% 0.035 $5,418,754 G88 Golden Mile Res Ltd -6% -11% -6% -36% 0.016 $5,599,622 EPM Eclipse Metals 0% -20% 0% -62% 0.008 $16,500,434 EVR Ev Resources Ltd -8% -21% 22% -21% 0.011 $13,195,060 WC8 Wildcat Resources -16% -32% -45% 1255% 0.42 $597,919,062 MNS Magnis Energy Tech 0% 0% 0% -90% 0.042 $50,378,922 RIO Rio Tinto Limited -1% -1% -5% 1% 127.26 $47,515,675,392 THR Thor Energy PLC -3% 9% 32% -38% 0.037 $7,069,380 YAR Yari Minerals Ltd 0% 0% 11% -43% 0.01 $4,823,578 MXR Maximus Resources -14% -18% 0% -12% 0.036 $13,479,722 DRE Dreadnought Resources Ltd 0% 4% -16% -71% 0.027 $93,934,970 MM1 Midasmineralsltd 0% -12% -12% -36% 0.115 $9,975,933 M2R Miramar 0% -8% 0% -68% 0.024 $3,572,869 LLI Loyal Lithium Ltd -13% -24% -10% -32% 0.27 $25,819,069 LRD Lordresourceslimited 0% 2% -6% -71% 0.059 $2,190,795 WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031 AUN Aurumin 0% 0% 36% -52% 0.03 $10,753,292 ZEO Zeotech Limited 0% 10% 0% -20% 0.033 $57,202,961 ALY Alchemy Resource Ltd 0% 0% -18% -47% 0.009 $10,602,686 LIS Lisenergylimited -3% -6% -26% -60% 0.145 $96,030,035 GW1 Greenwing Resources -17% -13% 4% -67% 0.1 $20,910,178 KTA Krakatoa Resources -14% -30% -55% -57% 0.019 $10,386,359 TYX Tyranna Res Ltd -13% -24% -24% -41% 0.013 $49,311,380 DAF Discovery Alaska Ltd 0% 8% 42% 0% 0.027 $6,324,337 FTL Firetail Resources -6% -11% -19% -57% 0.062 $9,827,767 IR1 Irismetals -7% -25% -35% -44% 0.65 $90,639,487 LNR Lanthanein Resources -11% -20% -20% -64% 0.008 $11,608,307 DAL Dalaroometalsltd -4% -12% 0% -76% 0.022 $1,903,250 TKM Trek Metals Ltd -5% 0% -12% -48% 0.038 $20,523,074 CY5 Cygnus Metals Ltd -7% -21% -26% -76% 0.093 $29,155,914 TUL Tulla Resources 0% -100% -100% -100% 0 $118,262,971 WES Wesfarmers Limited 2% 1% 5% 18% 58.18 $64,829,573,096 LLL Leolithiumlimited 0% 0% 0% -6% 0.505 $498,553,663 OCN Oceanalithiumlimited -1% -18% -36% -83% 0.074 $4,055,738 A11 Atlantic Lithium -6% -10% -16% -44% 0.37 $249,017,274 CMD Cassius Mining Ltd 0% 3% 12% 68% 0.037 $18,596,591 VSR Voltaic Strategic 0% -11% -16% -33% 0.016 $7,729,662 SGQ St George Min Ltd 3% -9% -3% -58% 0.032 $30,507,989 LLO Lion One Metals Ltd 2% 0% -11% -15% 0.9 $13,486,634 PAT Patriot Lithium 0% -13% -28% -53% 0.14 $9,592,398 PL3 Patagonia Lithium 0% 0% 24% 0% 0.13 $6,386,705 BUR Burleyminerals -4% -13% -13% -43% 0.13 $13,945,062 CHR Charger Metals -6% -9% -17% -65% 0.145 $12,000,139 RMX Red Mount Min Ltd -17% -17% -17% -50% 0.0025 $8,020,728 DLI Delta Lithium -7% -16% -41% -40% 0.27 $206,427,696 LM1 Leeuwin Metals Ltd -7% -7% -19% 0% 0.13 $6,559,234 FIN FIN Resources Ltd -3% -12% -3% 16% 0.0185 $12,336,105 DTM Dart Mining NL 0% -13% -15% -74% 0.014 $3,186,115 NIS Nickelsearch -4% -38% -46% -70% 0.043 $9,609,410 EG1 Evergreenlithium -4% -27% -35% 0% 0.12 $7,028,750 MAN Mandrake Res Ltd -11% 5% -7% -9% 0.04 $27,709,196 FBM Future Battery 10% 0% -1% 21% 0.068 $33,092,871 LPM Lithium Plus -13% -19% -33% -37% 0.2275 $22,356,932 KOB Kobaresourceslimited 17% 82% 69% 8% 0.14 $12,650,000 IEC Intra Energy Corp 0% 0% 0% -57% 0.003 $4,982,345 REC Rechargemetals 0% -12% -14% -41% 0.082 $9,130,862 SLM Solismineralsltd 0% -18% -12% 21% 0.115 $9,016,081 AZS Azure Minerals 0% -1% -1% 1102% 3.665 $1,683,354,040 DYM Dynamicmetalslimited -9% -17% 7% -21% 0.15 $5,940,000 TOR Torque Met -7% -12% -2% 25% 0.2 $28,707,677 SBR Sabre Resources -10% -10% -7% -40% 0.027 $11,227,858 ICL Iceni Gold 4% -28% -7% -62% 0.05 $11,825,313 TMX Terrain Minerals -9% -17% 25% -23% 0.005 $7,443,853 MHC Manhattan Corp Ltd 0% 13% 13% -36% 0.0045 $13,216,409 MHK Metalhawk. 0% -28% -34% -46% 0.083 $8,251,399 NKL Nickelxltd 0% -32% -24% -58% 0.032 $2,810,085 TMB Tambourahmetals -2% -17% -21% -21% 0.091 $7,713,453 ANX Anax Metals Ltd 0% -11% -27% -63% 0.024 $11,604,423 PMT Patriotbatterymetals -6% -20% -37% -40% 0.72 $385,560,122 BM8 Battery Age Minerals -3% -14% -5% -64% 0.18 $16,490,343 L1M Lightning Minerals -13% -5% -31% -50% 0.1 $4,855,882 ADG Adelong Gold Limited 0% 0% -17% -72% 0.005 $3,498,278 TOR Torque Met -7% -12% -2% 25% 0.2 $28,707,677 AL8 Alderan Resource Ltd 0% 0% -9% -44% 0.005 $5,534,307 OZM Ozaurum Resources -14% -29% -23% 0% 0.085 $15,716,250 FL1 First Lithium Ltd -5% -21% -25% 67% 0.3 $22,066,275 PLN Pioneer Lithium 0% -11% -13% 0% 0.165 $4,690,125 WYX Western Yilgarn NL 0% 9% 0% -9% 0.1 $4,965,750 RDN Raiden Resources Ltd -17% -26% -38% 339% 0.025 $79,696,953 PFE Panteraminerals 0% 8% -5% -63% 0.055 $7,294,240 GRE Greentechmetals -18% -29% -40% 104% 0.265 $26,251,080 OLY Olympio Metals Ltd 1% -18% -18% -43% 0.086 $5,405,957 SUM Summitminerals -10% 0% -10% -32% 0.095 $5,003,998 JBY James Bay Minerals -12% -20% -27% 0% 0.22 $8,111,250 SCN Scorpion Minerals 0% 3% -11% -57% 0.031 $12,693,142 JNO Juno -8% -8% -16% -11% 0.097 $19,104,252 CC9 Chariot Corporation -11% -31% -44% 0% 0.35 $28,965,969 OBM Ora Banda Mining Ltd -7% -7% 0% 117% 0.215 $392,557,070 RON Roninresourcesltd 0% -6% -18% -3% 0.155 $5,707,877 ASR Asra Minerals Ltd 17% 0% -13% -63% 0.007 $9,818,974 PFE Panteraminerals 0% 8% -5% -63% 0.055 $7,294,240 TG6 Tgmetalslimited -5% -24% -35% 136% 0.26 $14,873,696 HAW Hawthorn Resources 0% -2% -1% -11% 0.098 $32,831,530 KM1 Kalimetalslimited -13% -12% 0% 0% 0.535 $46,950,388 AEV Avenira Limited -8% -8% -15% -45% 0.011 $26,058,859

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