Eye on Lithium: Chinese lithium giant name-alikes back Nigerian plant; TG6 soars by 220pc

Nigeria’s first ever lithium processing plant has big-name backers… But what’s in a name, eh?
What’s hot, what’s not today for ASX lithium stocks?
Up over 200pc, TG6 is plasma hot

Lithium news, Monday October 30.

It’s not the best start to an ASX trading week, but an okay one considering what a month it’s been for ASX stocks in general.

At the top end of town local lithium giant IGO was down 9% at one stage after a lithium price warning it might’ve done better to stay mum on, while at the small end of town, there’s been incredible movement for TG6.

There’s always a few ASX lithium stocks catching the eye and we’ll get to those in a sec.

But first…

Chinese lithium giant wannabes back Nigerian project

Well, this is one way to gain some attention and traction for your lithium-focused enterprise…

As reported by Bloomberg, Nigeria’s first-ever lithium-processing plant made news with “much fanfare” after it appeared to receive backing from three Chinese giants of the lithium world – Ganfeng, Tianqi and CATL.

Turns out, though, that those particular companies, the ones most folk in the industry know at least, have no formal affiliation with the $250m Nigerian project.

And that’s because the actual three firms backing the project have near-identical names to the Chinese heavyweights.

A trio of firms behind a planned lithium plant in Nigeria have nothing to do with three nearly identically named behemoths listed on the Shenzhen and Hong Kong stock exchanges https://t.co/Ak6egviomQ

— Bloomberg (@business) October 27, 2023

Ganfeng Lithium Industry Ltd, Tianqi Lithium Industrial Ltd and Ningde Era Ltd (which is the literal English translation of the Chinese characters that form CATL) are three companies reportedly formed by Chinese nationals last year – traced to an address “in a medium-sized southwestern Nigerian town”.

“We are independent companies,” one Kelvin Dai, the MD of the Nigerian Ganfeng, told Bloomberg via a text. “Please don’t make any confusion.”

Happy to help (Bloomberg) spread the word, Kelvin.

Movers and shake-outs

What’s hot?

TG Metals (ASX:TG6) +220%

Larvotto Resources (ASX:LRV) +60% (note: now in a trading pause – pending an update on exploration results.)

First Lithium (ASX:FL1) +23%

What’s Not?

Sabre Resources (ASX:SBR) -18%

Patagonia Lithium (ASX:PL3) -14%

Leaf Resources (ASX:LER) -13%

Also turning heads

Read our Resources Top 5 report from earlier in the day to learn why TG6, LRV and FL1 have been moving up and to the right today. But also catching our eye, among others today, we have:

Cosmos Exploration (ASX:C1X)

This lithium-hunting junior is up about 14% at the time of writing today after it provided an update this morning on its exploration activities at its prospective Corvette Far East Lithium project and Lasalle project, in the prolific James Bay district in Quebec, Canada – near the CV5 lithium discovery by Patriot Battery Metals (ASX:PMT).

James Bay Lithium Projects – Exploration Updatehttps://t.co/xNhkePlqCt #Rareearths $C1X #C1X

— Cosmos Exploration Limited (ASX: C1X) (@Cosmos_ASX) October 30, 2023

Highlights, per the ASX release include:

• Multiple work programs progressing on Cosmos’ highly prospective exploration projects located between recent spodumene discoveries made by Loyal Lithium, Brunswick Exploration, the Midland Exploration-Rio Tinto JV and Patriot Battery Metals .

• Detailed in-fill magnetics and LiDARDEM surveys commencing at Corvette Far East (CFE) around recently identified highly fractionated pegmatites.

• Ongoing work programs at CFE will assist in refining drill targets and vectoring into spodumene-bearing zones. The drill permitting process has commenced for the upcoming winter drill program.

• Exploration activities also advancing at Lasalle, where extensive pegmatite boulders have been identified as well as high-grade gold mineralisation up to 42.4g/t Au.

• Research at Lasalle indicates that multiple pegmatite dykes were intersected in historical drilling, with no assays for lithium or critical pathfinder metals.

CX1 share price

Also…

Meanwhile, as Eddy notes in his ASX Large Caps column…

IGO (ASX:IGO) plunged 9% today after warning that lower lithium prices could hit its current quarter sales.

The company reported strong quarterly result at Greenbushes, with record spodumene production and lower cash costs. Greenbushes delivered another record quarterly production result of 414kt on a 100% basis, while unit production costs of $262/t were lower by 3%.

2023-10-30#Lithium Carbonate 99.5% Min China Spot

Price: $23,125.90
1 day: $-139.31 (-0.60%)
YTD: -68.62%#Spodumene Concentrate (6%, CIF China)

Price: $2,110.00
1 day: $-20 (-0.94%)
YTD: -63.78%

Sponsored by @SiennaResources $SIE $SNNAF https://t.co/cacYH1GPAN

— Lithium Price Bot (@LithiumPriceBot) October 30, 2023

ASX lithium form guide (weekly/yearly):

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.

Stocks missing from this list?

Email [email protected] and/or [email protected]

CODE COMPANY PRICE 1 WEEK RTN % 1 MTH RTN % YTD RTN % 1 YR RTN % MARKET CAP ADV Ardiden Ltd 0.0055 38% 10% 0% -21% $13,441,677 AGY Argosy Minerals Ltd 0.165 -6% -11% -41% -71% $238,749,275 1MC Morella Corporation 0.005 -9% -17% -1% -76% $33,762,606 AML Aeon Metals Ltd. 0.012 0% -29% -2% -56% $13,156,807 ASN Anson Resources Ltd 0.1625 12% 8% -2% -49% $205,718,267 AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 0% $2,752,409,203 CXO Core Lithium 0.35 1% 4% -68% -75% $758,612,118 EMH European Metals Hldg 0.655 -10% -6% 2% -14% $80,042,792 ESS Essential Metals Ltd 0.5 8% 6% 18% 5% $135,278,382 EUR European Lithium Ltd 0.066 -4% -7% -1% -27% $96,202,503 GLN Galan Lithium Ltd 0.64 -15% 12% -43% -59% $231,360,593 INF Infinity Lithium 0.085 0% 2% -4% -61% $39,320,328 INR Ioneer Ltd 0.1475 -11% -31% -23% -72% $306,098,817 JRL Jindalee Resources 1.37 -1% -20% -52% -41% $81,435,394 LIT Lithium Australia 0.032 2% -9% -1% -36% $37,887,942 LKE Lake Resources 0.1675 -4% 5% -63% -84% $241,815,600 LPD Lepidico Ltd 0.0095 -5% -14% -1% -55% $61,106,464 LPI Lithium Pwr Int Ltd 0.5275 0% 103% 9% -18% $333,495,907 LTR Liontown Resources 1.61 -15% -45% 29% -17% $4,064,506,385 MIN Mineral Resources. 60.28 1% -9% -1692% -21% $11,787,308,387 MLS Metals Australia 0.037 12% 12% -1% -8% $20,593,194 AKE Allkem Limited 10.015 -6% -12% -123% -31% $6,495,504,337 PLL Piedmont Lithium Inc 0.465 -8% -23% -18% -51% $165,436,560 PLS Pilbara Min Ltd 3.84 -1% -6% 9% -25% $11,827,188,254 QPM Queensland Pacific 0.058 -3% -3% -5% -64% $118,737,666 PSC Prospect Res Ltd 0.088 -1% 13% -3% -16% $41,141,092 RLC Reedy Lagoon Corp. 0.005 0% -17% 0% -60% $2,466,734 SYA Sayona Mining Ltd 0.0815 -2% -3% -11% -69% $844,050,273 TKL Traka Resources 0.005 0% 0% 0% -17% $4,376,646 TON Triton Min Ltd 0.028 40% 33% -1% 17% $40,595,246 VUL Vulcan Energy 2.15 -10% -28% -418% -71% $373,704,368 GL1 Globallith 1.21 -4% -13% -64% -53% $322,227,267 BMM Balkanminingandmin 0.125 -19% -38% -21% -58% $9,288,968 LEL Lithenergy 0.695 22% 16% -8% -40% $69,016,700 ARN Aldoro Resources 0.099 13% 15% -6% -65% $13,327,751 NMT Neometals Ltd 0.25 -14% -26% -55% -78% $174,292,000 IGO IGO Limited 9.63 -14% -20% -383% -41% $8,064,902,208 AAJ Aruma Resources Ltd 0.032 0% 0% -2% -54% $6,694,311 PAM Pan Asia Metals 0.145 -28% -28% -27% -63% $23,823,215 AX8 Accelerate Resources 0.043 54% 72% 2% 39% $19,106,090 AM7 Arcadia Minerals 0.085 -7% -19% -12% -73% $9,814,509 AS2 Askarimetalslimited 0.17 -15% -6% -27% -62% $13,056,036 BYH Bryah Resources Ltd 0.013 -7% -13% -1% -45% $5,020,474 EMS Eastern Metals 0.031 3% 0% -4% -75% $2,062,735 FG1 Flynngold 0.064 -6% 12% -4% -39% $8,864,868 FRS Forrestaniaresources 0.031 -11% -31% -11% -84% $3,069,048 GSM Golden State Mining 0.02 -44% -39% -2% -41% $3,821,766 IMI Infinitymining 0.12 0% 0% -16% -50% $9,318,166 LRV Larvottoresources 0.16 39% 23% 0% -14% $6,725,472 MMC Mitremining 0.23 7% -13% -5% 31% $10,430,523 RAG Ragnar Metals Ltd 0.022 -12% -8% 1% 5% $10,901,562 CTN Catalina Resources 0.004 0% 0% -1% -47% $4,953,948 TMB Tambourahmetals 0.12 4% -38% 2% -14% $9,952,842 TEM Tempest Minerals 0.008 7% -11% -2% -72% $3,579,684 EMC Everest Metals Corp 0.089 -19% -19% 1% -11% $13,328,311 WCN White Cliff Min Ltd 0.011 -8% -8% 0% -48% $15,084,223 WML Woomera Mining Ltd 0.009 -10% -25% -1% -33% $8,605,751 AZL Arizona Lithium Ltd 0.016 14% 14% -5% -81% $47,920,345 CRR Critical Resources 0.027 -13% -29% -2% -55% $49,779,808 KGD Kula Gold Limited 0.012 0% -20% -1% -68% $5,038,361 LRS Latin Resources Ltd 0.26 -2% 0% 16% 148% $671,289,081 PNN Power Minerals Ltd 0.24 -2% -8% -29% -52% $19,131,883 WR1 Winsome Resources 1.375 13% -5% 15% 277% $247,691,580 KZR Kalamazoo Resources 0.095 0% -5% -12% -51% $15,940,873 MTM MTM Critical Metals 0.023 5% -45% -6% -81% $2,185,416 QXR Qx Resources Limited 0.024 0% 9% -2% -61% $25,431,741 SCN Scorpion Minerals 0.055 -2% 2% -2% -21% $20,108,959 AZI Altamin Limited 0.059 -5% -9% -2% -30% $23,111,288 ENT Enterprise Metals 0.003 0% -25% -1% -70% $2,398,413 KAI Kairos Minerals Ltd 0.017 -15% -15% 0% -36% $52,418,244 STM Sunstone Metals Ltd 0.018 20% 0% -2% -42% $49,311,758 PGD Peregrine Gold 0.275 4% -4% -11% -32% $15,167,955 AVW Avira Resources Ltd 0.002 100% 0% 0% -33% $4,267,580 NVA Nova Minerals Ltd 0.2675 1% 19% -41% -61% $53,776,940 GT1 Greentechnology 0.395 -5% -6% -43% -58% $85,191,009 BNR Bulletin Res Ltd 0.16 52% 113% 7% 14% $49,910,487 CAI Calidus Resources 0.185 42% 19% -9% -45% $118,536,573 MRR Minrex Resources Ltd 0.0145 -9% 4% -2% -65% $15,188,145 A8G Australasian Metals 0.165 -18% -3% -3% -31% $8,599,882 EFE Eastern Resources 0.008 0% -11% -2% -78% $9,935,572 MQR Marquee Resource Ltd 0.025 -4% -19% -1% -60% $10,747,994 SRZ Stellar Resources 0.0085 -6% -29% 0% -29% $8,785,492 LSR Lodestar Minerals 0.005 0% -17% 0% 0% $10,116,987 NWM Norwest Minerals 0.03 -3% -9% -2% -32% $10,352,502 AOA Ausmon Resorces 0.0035 17% 0% 0% -42% $3,524,498 VKA Viking Mines Ltd 0.01 11% -9% 0% 25% $9,227,326 IPT Impact Minerals 0.01 0% -17% 0% 43% $25,782,335 SRI Sipa Resources Ltd 0.021 -5% 5% -1% -61% $5,475,795 VMC Venus Metals Cor Ltd 0.105 5% -16% 3% 20% $18,972,868 RGL Riversgold 0.01 -17% -23% -2% -77% $10,463,876 ZNC Zenith Minerals Ltd 0.089 -6% -2% -18% -69% $31,361,899 RAS Ragusa Minerals Ltd 0.036 3% 13% -8% -84% $5,703,951 G88 Golden Mile Res Ltd 0.018 -14% -44% 0% -29% $6,587,790 EPM Eclipse Metals 0.011 -8% -15% -1% -42% $20,280,598 EVR Ev Resources Ltd 0.0115 5% -12% 0% -48% $10,392,578 WC8 Wildcat Resources 0.86 87% 121% 84% 2588% $806,658,366 MNS Magnis Energy Tech 0.074 0% 4% -30% -81% $88,762,863 RIO Rio Tinto Limited 119 4% 7% 259% 29% $43,703,284,874 THR Thor Energy PLC 0.026 4% -32% -3% -68% $4,761,086 YAR Yari Minerals Ltd 0.017 31% -11% 0% -29% $8,200,083 MXR Maximus Resources 0.04 5% 25% 0% 0% $12,824,231 DRE Dreadnought Resources Ltd 0.03 -30% -42% -8% -76% $106,751,090 MM1 Midasmineralsltd 0.15 -12% -14% -5% -17% $12,982,087 M2R Miramar 0.026 -26% -40% -5% -70% $3,870,608 LLI Loyal Lithium Ltd 0.45 5% -38% 16% 5% $39,489,242 LRD Lordresourceslimited 0.065 2% -10% -10% -80% $2,413,588 WMC Wiluna Mining Corp 0.205 0% 0% 0% 0% $74,238,031 AUN Aurumin 0.03 3% 20% -3% -64% $9,553,292 ZEO Zeotech Limited 0.042 -16% -28% -1% 11% $73,354,692 ALY Alchemy Resource Ltd 0.01 -9% -9% -1% -73% $11,780,763 LIS Lisenergylimited 0.235 7% 18% -9% -45% $140,844,051 GW1 Greenwing Resources 0.13 8% 4% -15% -61% $24,395,207 KTA Krakatoa Resources 0.02 18% -5% -2% -69% $9,567,754 TYX Tyranna Res Ltd 0.016 7% -6% -1% -66% $52,582,805 DAF Discovery Alaska Ltd 0.018 -5% -5% -1% -45% $4,216,225 FTL Firetail Resources 0.105 14% 5% -6% -49% $15,635,083 IR1 Irismetals 1.6 14% -20% 44% -3% $208,260,994 LNR Lanthanein Resources 0.006 0% -25% -2% -81% $6,729,453 DAL Dalaroometalsltd 0.03 -25% -45% -7% -75% $2,448,000 TKM Trek Metals Ltd 0.051 65% -7% -3% -27% $24,882,004 CY5 Cygnus Metals Ltd 0.18 33% 11% -20% -63% $46,406,822 TUL Tulla Resources 0 -100% -100% -33% -100% $118,262,971 WES Wesfarmers Limited 50.265 -2% -5% 436% 13% $57,073,838,952 LLL Leolithiumlimited 0.505 0% 0% 2% -23% $498,553,663 OCN Oceanalithiumlimited 0.135 -7% -39% -21% -71% $7,165,328 A11 Atlantic Lithium 0.4 -18% -14% -22% -34% $247,957,872 CMD Cassius Mining Ltd 0.034 -8% 3% 1% 13% $16,888,759 VSR Voltaic Strategic 0.021 5% -32% 0% 11% $11,594,493 SGQ St George Min Ltd 0.042 14% 5% -3% -31% $34,709,574 LLO Lion One Metals Ltd 0.98 -17% -4% -19% 24% $13,994,439 PAT Patriot Lithium 0.17 0% -6% -10% 0% $11,819,188 PL3 Patagonia Lithium 0.12 -20% 0% 0% 0% $6,860,490 BUR Burleyminerals 0.21 17% 17% -1% 11% $21,778,803 CHR Charger Metals 0.175 25% 52% -27% -63% $11,180,586 RMX Red Mount Min Ltd 0.004 0% 0% 0% -11% $10,694,304 DLI Delta Lithium 0.5925 -10% -24% 12% 12% $330,934,066 LM1 Leeuwin Metals Ltd 0.255 -15% 6% 0% 0% $13,211,575 ENT Enterprise Metals 0.003 0% -25% -1% -70% $2,398,413 FIN FIN Resources Ltd 0.028 47% 155% 1% 17% $16,146,920 DTM Dart Mining NL 0.018 -9% -24% -4% -71% $3,489,220 NIS Nickelsearch 0.057 12% -2% -10% -57% $8,495,758 EG1 Evergreenlithium 0.23 2% -23% 0% 0% $12,932,900 MAN Mandrake Res Ltd 0.033 -3% -13% -1% -8% $20,956,597 FBM Future Battery 0.093 -7% -19% 4% 60% $50,990,599 XTC Xantippe Res Ltd 0.001 0% -33% 0% -76% $17,528,005 LPM Lithium Plus 0.5 49% 22% 13% -13% $32,334,218 KOB Kobaresourceslimited 0.073 11% -9% -7% -72% $7,168,333 EMC Everest Metals Corp 0.089 -19% -19% 1% -11% $13,328,311 LRD Lordresourceslimited 0.065 2% -10% -10% -80% $2,413,588 IEC Intra Energy Corp 0.0035 -13% -42% 0% -42% $6,643,126 REC Rechargemetals 0.13 -13% -26% -1% -19% $15,589,276 SLM Solismineralsltd 0.25 6% -4% 18% 285% $17,485,696 AZS Azure Minerals 3.5 43% 33% 328% 1150% $1,560,175,341 DYM Dynamicmetalslimited 0.165 -3% -20% 0% 0% $5,775,000 TOR Torque Met 0.205 28% -41% 3% 11% $26,548,502 SBR Sabre Resources 0.04 14% 3% 0% -20% $13,991,337 ICL Iceni Gold 0.066 2% -14% -1% -7% $13,911,714 TMX Terrain Minerals 0.005 25% 25% 0% -29% $6,288,219 MHC Manhattan Corp Ltd 0.005 0% -29% 0% -38% $17,621,879 MHK Metalhawk. 0.11 20% 10% -6% -41% $7,877,101 NKL Nickelxltd 0.058 7% 2% -2% -60% $5,093,280 TMB Tambourahmetals 0.12 4% -38% 2% -14% $9,952,842 ANX Anax Metals Ltd 0.035 0% -10% -2% -40% $15,046,637 PMT Patriotbatterymetals 1.25 3% 2% 50% 0% $466,061,008 BM8 Battery Age Minerals 0.25 19% -4% -25% -50% $21,392,853 L1M Lightning Minerals 0.13 -10% -4% -4% 0% $5,294,258 ADG Adelong Gold Limited 0.0065 -7% -7% 0% -24% $4,174,256 TOR Torque Met 0.205 28% -41% 3% 11% $26,548,502 AL8 Alderan Resource Ltd 0.012 9% 20% 1% 50% $7,400,336 OZM Ozaurum Resources 0.081 -7% -23% 2% 3% $13,652,500 FL1 First Lithium Ltd 0.37 51% 106% 19% 106% $21,015,500 PLN Pioneer Lithium 0.29 0% 45% 0% 0% $8,527,500 WYX Western Yilgarn NL 0.075 -17% -22% -6% -35% $3,426,368 RDN Raiden Resources Ltd 0.038 73% 23% 3% 344% $91,098,742 PFE Panteraminerals 0.062 0% 3% -5% -35% $6,852,643 GRE Greentechmetals 0.405 47% 1% 27% 153% $22,731,555 OLY Olympio Metals Ltd 0.15 -6% -3% 1% -12% $9,539,925 SUM Summitminerals 0.089 -3% -26% -6% -48% $4,289,141 JBY James Bay Minerals 0.29 -3% -19% 0% 0% $9,571,275 SCN Scorpion Minerals 0.055 -2% 2% -2% -21% $20,108,959 JNO Juno 0.08 3% -4% -2% -15% $11,123,956 CC9 Chariot Corporation 0.255 0% 0% 0% 0% $18,699,550 OBM Ora Banda Mining Ltd 0.16 39% 60% 8% 98% $229,898,556

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