Lithium Junior Miners News For The Month Of January 2022

Welcome to the January 2022 edition of the “junior” lithium miner news. I have categorized those lithium miners that won’t likely be in production before 2023 as the juniors. Investors are reminded that most 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 surging lithium prices to new record highs, particularly lithium carbonate spot prices in China (up US$20,000 on last month). All reports are that 2022 will see continued short supply and strong demand for lithium, thereby supporting prices in 2022.

Lithium spot and contract price news

Asian Metal reported during the past 30 days, 99.5% lithium carbonate CIF China spot prices were up 20.13%. Lithium hydroxide prices were up 18.99% the past 30 days. Lithium Iron Phosphate (Li 3.9% min) prices were up 14.98%. Spodumene (6% min) prices were up 2.96% over the past 30 days.

Benchmark Mineral Intelligence as of mid-January reported China lithium carbonate prices of US$47,500/t (battery grade), and for lithium hydroxide $38,650/t, and stated (no link available): “Downstream demand remains robust for both hydroxide and carbonate, with 518,000 electric vehicles sold in China during December 2021, bringing year-total sales to just over 3.5 million units, up by 169.4% compared to 2020.”

Metal.com reports lithium spodumene concentrate (6%, CIF China) price of CNY 15,245 (~USD 2,408/mt), as of January 18, 2021.

China Lithium carbonate spot price – CNY 358,500 (~USD 56,623)

Rio Tinto’s lithium emerging supply gap chart (chart from 2021)

Lithium market news

For a summary of the latest lithium market news and the “major” lithium company’s news, investors can read my “Lithium Miners News For The Month Of January 2021” article. Highlights include:

• Battery pack prices fall to an average of $132/kWh, but rising commodity prices start to bite. For battery electric vehicle [BEV] packs in particular, prices were $118/kWh on a volume-weighted average basis in 2021.
• A lithium shortage is coming, and automakers might be unprepared. If you’re not already familiar with lithium, 2022 will probably be the year that changes.
• Joe Lowry of Global Lithium says: “The lithium decade is just getting started.”
• CATL’s largest battery facility with planned capacity of 120 GWh begins production. CATL now has 55% market share in China.
• The DoE reported that 13 new U.S. EV battery plants are announced and expected to be operational by 2025 in addition to Tesla’s Austin gigafactory.
• Europe’s Northvolt $12 billion battery start-up produces its first lithium-ion cell. The first battery of its kind to have been fully designed, developed and assembled at a “gigafactory” by a homegrown European battery company.
• Chinese lithium prices soar – 2021 in review.
• What could go wrong in the electric vehicle revolution? Not enough lithium.
• GM, Volkswagen build up their battery supply chains amid electric-vehicle push.
• Korean EV battery maker LG Energy going public at record $55B valuation.
• EV battery costs set to rise in 2022 due to higher raw material costs.
• Tesla set to introduce larger Megapacks this quarter, targeting to grow Megapack production to nearly 50GWh by 2023, from 4GWh now.
• New Chile lithium contracts awarded to BYD Co. Ltd. and local firm Servicios y Operaciones Mineras del Norte. Chile court halts lithium auction days after quotas awarded.
• Singapore bourse to start cobalt, lithium contracts in H1 2022.
• Plan for decades of high commodity prices, BlackRock says. Goldman Sachs agrees.
• Rystad Energy forecasts lithium prices continuing to rise in 2022 on strong demand and tight supply.
• Serbian government revokes Rio Tinto’s licences for Jadar Lithium Project. Rio Tinto’s $825m Argentina lithium deal.
• Britishvolt: Electric car battery plant gets government funding.
• Dongfeng E70 launched with a solid-state battery (from JV partner Ganfeng), 50 demonstration cars delivered.

Junior lithium miners company news

Sigma Lithium Resources [TSXV:SGML](SGMLF) (SGML)

Sigma is developing a world class lithium hard rock deposit with exceptional mineralogy at its Grota do Cirilo property in Brazil.

On December 17, Sigma Lithium announced: “Sigma Lithium announces closing of private placement for gross proceeds of C$136.7 million.”

Catalysts include:

• Q4 2022 – Production targeted to begin at the Grota do Cirilo Project in Brazil and ramp to 220,000tpa spodumene.

Investors can read my Trend Investing article Sigma Lithium Looks To Be A Potential 2022 Lithium Producer With Significant Next Stage Expansion Potential back when Sigma was trading at C$5.00.

Note: Now that Sigma Lithium is fully funded to production (Q4, 2022 start) I plan to add them next month into the Lithium miner news.

Sayona Mining [ASX:SYA] (OTCQB:SYAXF)

On January 25, Sayona Mining announced: “Sayona expands northern Québec lithium hub with 121 new claims.” Highlights include:

• “Significant expansion for Sayona’s Northern Québec lithium resource hub, with acquisition of 121 new claims (Lac Albert Project), located west of Moblan Lithium Project, spanning more than 6,500 ha.
• Drilling underway at Moblan by joint venture partner SOQUEM, aimed at increasing lithium resource.
• Pegmatite occurrences within new claims to be assessed for lithium mineralisation in 2022 Northern Hemisphere summer.
• Acquisition follows increasing North American lithium demand, amid new investments by EV and battery makers.”

Investors can read the Company presentation here, and my Trend Investing interview: “Sayona Mining Managing Director & CEO Brett Lynch Talks With Matt Bohlsen Of Trend Investing.”

Upcoming catalysts include:

• 2022 – Authier permitting. Possible project financing and off-take.
• 2023 – Restart of NAL (SYA 75%: PLL 25%) operations.

Standard Lithium [TSXV:SLI] (SLI)

On January 20, Standard Lithium announced: “Standard Lithium provides project update.” Highlights include:

• “The Standard Lithium Demonstration Plant produces first-of-its-kind start-to-finish DLE to battery quality lithium carbonate in a single integrated process.
• Standard Lithium expands team and retains one of North America’s largest engineering and construction companies to complete all necessary Pre-FEED studies for first commercial plant.
• Improves performance of proprietary sorbent and works with global manufacturer to secure domestic commercial supply.”

Neo Lithium [TSXV:NLC] (OTC:NTTHF) – Takeover offer by Zijin Mining at C$6.50/share, subject to final approval (shareholders have approved)

On January 11, Neo Lithium announced:

Neo Lithium receives Catamarca Government approval of its Environmental Impact Assessment for the construction and operation of its 3Q Project.

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 January 4, Vulcan Energy Resources announced: “Grant of further licenses significantly grows Zero Carbon Lithium™Project.” Highlights include:

• “Vulcan Energy Resources Ltd. (Vulcan, the Company, ASX: VUL), has been granted five new exploration licenses for geothermal energy, and lithium in the Upper Rhine Valley, Germany.
• The licenses cover 325km2 of area which is considered by Vulcan to be prospective for deep geothermal and lithium brine, and increases Vulcan’s granted license area by nearly 50% to over 1,000km2.
• Vulcan’s license holding stretches across three states in the Upper Rhine Valley, with the latest licenses in the states of Rhineland-Pfalz complementing existing licenses in this state, as well as in Hessen and Baden-Württemberg.
• The Company is targeting completion of its Phase 1 Definitive Feasibility Study [DFS] in H2 2022 and first commercial production of lithium by 2024…”

On January 11, Vulcan Energy Resources announced: “Agreement with Nobian for the development of the Central Lithium Plant including chlorine and hydrogen by-products of lithium hydroxide.” Highlights include:

• “Vulcan Energy Resources Ltd. (Vulcan, the Company; ASX: VUL) has signed an MOU and a term sheet (“Agreement”) with Nobian, a European leader in the production of essential chemicals, which employs approximately 1,600 people and had revenues in 2020 of €1 billion.
• Nobian is the fourth largest chlor-alkali producer in Europe after Inovyn, Dow and Covestro1, and has extensive electrolysis operational experience. Chlor-alkali uses an electrolysis process which is similar to part of Vulcan’s flowsheet.
• Advantageously, one of Nobian’s operations is located at the Höchst chemical park near Frankfurt, where Vulcan has secured a plot for the construction of its Central Lithium Plant [CLP].
• Vulcan and Nobian will assess the feasibility of a joint project for the development, construction and operation of the CLP, including the electrochemical conversion process of lithium chloride to battery quality lithium hydroxide…”

On January 24, Vulcan Energy Resources announced: “Growth and diversification of Zero Carbon Lithium™ development portfolio new permit in Italy prospective for sustainable lithium development.” Highlights include:

• “Vulcan subsidiary Vulcan Energy Italy Pty Ltd has been granted a new Research Permit in Italy, named “Cesano” located 20 km NNW of Rome.
• The Cesano Permit extends over an area of 11.5 km2 and includes an area where a single geothermal well yielded two “hot brine” samples that contained high average lithium-in-brine historical (1976) grades of 350 and 380 mg/l Li.
• Vulcan considers the area to have potential for sustainable lithium battery chemicals development in line with its Zero Carbon Lithium™ business, given the recorded high heat and lithium grades within the brine, and encouraging flow rates.
• Vulcan’s in-house geological team in Germany will be collaborating with Italian geologists and local stakeholders to collate and assess historical data, verify the lithium content and assess the brine for potential lithium project development. If successful, the Cesano Project could provide a source of strategic, sustainable lithium in Italy for Europe’s battery and automotive market, and become a possible future additive to Vulcan’s Zero Carbon Lithium™ business.”

Upcoming catalysts include:

• Mid-2022 – DFS, permitting, then project funding.
• 2024 – Target to commence production.

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

No news for the month.

Upcoming catalysts include:

2022 – DFS due, EIA permit due.

POSCO [KRX:005490] (PKX)

On January 2 C&EN reported:

Posco invests in Argentinian lithium project. South Korean steelmaker Posco will spend $830 million to expand a lithium project at Argentina’s Hombre Muerto salt lake. Posco built a pilot plant in the area in 2016 and in 2018 paid $280 million for lithium extraction rights there. The company expects its new plant to produce 25,000 metric tons of lithium hydroxide annually starting in 2024. Allkem, Lithium Americas, and Livent also have lithium extraction projects in the same area.

Upcoming catalysts include:

• 2024 – Target to commence production at Hombre Muerto and ramp to 25ktpa LiOH.

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. Wesfarmers acquired 100% of the shares in Kidman for A$1.90 per share, for US$545 million in total.

Some news from December 17, 2021 International Mining reported:

Civmec to construct Mount Holland lithium concentrate refinery… The Mount Holland mine site will produce lithium concentrate, which will be transported to a refinery that Civmec has been tasked to construct. The refinery, to be located at Kwinana in Western Australia… Covalent says the refinery operations are expected to have an 85% recovery of the lithium contained in the spodumene concentrate, with the capacity to produce around 45,000 t/y of battery-quality lithium hydroxide… Civmec expects to commence work on this project in 2022, with completion expected in 2024.

You can view the latest company presentation here and news on the Mt Holland construction here.

Upcoming catalysts include:

• H2, 2024 – Mt Holland spodumene production and Kwinana LiOH refinery planned to begin and ramp to 45–50ktpa LiOH.

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

No news for the month.

Upcoming catalysts include:

• 2022 – Rose Lithium-Tantalum Project provincial permitting. Possible off-take or financing announcements. Results of studies for a chemical plant to produce high quality lithium hydroxide monohydrate.

You can read my August 2021 Critical Elements article here.

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

Liontown Resources 100% own the Kathleen Valley Lithium spodumene project in Western Australia. DFS completed in November 2021.

On January 10, Liontown Resources announced:

Liontown orders SAG Mill for Kathleen Valley Lithium Project. Contract for critical long-lead equipment item awarded to secure a production slot and meet targeted first lithium concentrate production in 2024.

On January 12, Liontown Resources announced: “Liontown signs foundational binding Offtake Term Sheet with premier global battery maker LG Energy Solution. Cornerstone offtake agreement provides strong market validation for the product quality and Tier-1 jurisdiction credentials of Liontown’s Kathleen Valley Lithium Project.” Highlights include:

• “Binding Lithium Spodumene Concentrate Offtake Term Sheet signed with South Korean-based LG Energy Solution [LGES]. Foundation agreement underpins the development of Liontown’s A$473 million Kathleen Valley Lithium Project in Western Australia.
• Initial 5-year term expected to commence in 2024, with the ability to extend for a further 5 years.
• LGES to purchase 100,000 dry metric tonnes [DMT] in the first year, increasing to 150,000 DMT per year in subsequent years.
• Pricing determined using a formula-based mechanism referencing market prices for Lithium Hydroxide Monohydrate.
• The landmark Offtake Term Sheet is strongly aligned with Liontown’s offtake strategy, which is targeting Tier-1 customers downstream in the global battery value chain.
• Negotiations continue with several Tier-1 customers that will complement Liontown’s offtake strategy of establishing a diverse portfolio of high-quality customers, defined both by geographic location and position within the global battery value chain.”

You can view the company’s latest presentation here.

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

On January 6, Lithium Power International announced: “Extensive lithium exploration programs at Blackwood and the Pilbara, Western Australia.” Highlights include:

• “LPI is advancing on multiple lithium projects and prospects in Western Australia…
• Soil sampling completed at the Pilgangoora tenement, adjacent to Pilbara Minerals’ Pilgangoora lithium mine.”

On January 12, Lithium Power International announced: “LPI to demerge its WA hard rock lithium assets.” Highlights include:

• “LPI is to spin-out its Western Australian Greenbushes and Pilgangoora lithium assets in the next six months.
• Greenbushes tenements are immediately along strike from the Talison mine, the world’s largest lithium producer, while Pilgangoora is adjacent to assets owned by Pilbara Minerals.
• LPI’s WA interests are held by a wholly-owned subsidiary of LPI (DemergeCo), which will seek to list on the ASX.
• LPI shareholders to receive DemergeCo shares on a pro rata basis via a capital reduction and in-specie distribution, subject to shareholder and regulatory approvals.
• LPI’s Board believes the Demerger process will unlock the strategic value of the WA assets for the benefit of all shareholders and allow LPI to focus on developing its flagship Maricunga Lithium Brine Project in Chile.”

On January 20, Lithium Power International announced: “Maricunga Stage One DFS delivers an after tax NPV of US$1.4B.” Highlights include:

• “The updated Maricunga Stage One Lithium Brine project’s Definitive Feasibility Study [DFS] supports 15,200 tonnes per annum production of lithium carbonate [LCE] for 20 years.
• Project NPV1 (leveraged basis) of US$1.425B (after tax) at 8% discount rate, providing an IRR of 39.6% and a 2-year payback. Estimated steady-state annual EBITDA of US$324M.
• Project operating cost places Maricunga among the most efficient producers with an OPEX of US$3,718 per tonne not including credit from potassium chloride [KCl] by-product. KCI production was not considered in the DFS.
• Project direct development cost estimated at US$419M, indirect costs at US$145M and contingency costs at US$62M to provide a total project CAPEX of US$626M.”

Upcoming catalysts:

• 2022 – Further developments with Mitsui re off-take partner and funding announcements for Maricunga Lithium Brine Project in Chile.

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 19, Lake Resources NL announced: “Kachi Production increased to 50,000 tonnes/year lithium carbonate as Base Case for DFS.” Highlights include:

• “Planned production at Lake’s flagship Kachi Lithium Brine Project will be set at 50,000 tonnes/year (tpa) lithium carbonate in the Definitive Feasibility Study [DFS].
• Supported by demand, financing, host-country investment policies and Lake’s technology partner Lilac Solutions.”

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.

On January 14, AVZ Minerals announced:

AVZ Admitted to OTCQX Best Market. AVZ Admitted to OTCQX Best Market AVZ Minerals Limited is pleased to announce that trading in its ordinary shares commenced on the OTCQX Best Market on 13 January 2022 under the ticker symbol “AZZVF”. The OTCQX Best Market is the highest market tier of OTC Markets on which some 11,000 United States [US] and global securities trade.

Upcoming catalysts include:

• 2022 – Initial project work. FID on the Manono Project.

ioneer Ltd [ASX:INR] [GR:4G1] (OTCPK:GSCCF)

ioneer ltd. announced in September 2021 the sale of 50% of its flagship lithium boron project to Sibanye Stillwater for US$490m.

No news for the month.

Upcoming catalysts include:

• Any debt funding deals on top of the existing Sibanye-Stillwater US$490m to fund Rhyolite Ridge.

European Metals Holdings [ASX:EMH] [AIM:EMH] [GR:E861] (OTC:ERPNF) (NASDAQ:OTCPK:EMHXY)

On January 19, European Metals Holdings announced: “PFS update delivers outstanding results 75% increase in Cinovec NPV to US$1.94b 16% increase in production to 29,386tpa.” Highlights include:

• “The 2019 PFS Update for the Cinovec Project has been updated to demonstrate the effect of changes in the mining process to incorporate the use of paste backfill, which results in an increase in annual production, together with changes in lithium and by-product prices to reflect current and expected market conditions.
• Annual production of battery grade lithium hydroxide monohydrate modelled to increase from 25,267 tpa to 29,386 tpa, an increase of 16%.
• NPV8 (post tax) increases from US$1.108B to US$1.938B, an increase of 74.9%, based upon a lithium hydroxide price of USD17,000 per tonne which is significantly less than the current price.
• Post tax IRR of 36.3% and a payback period of 2.5 years from the commencement of production.
• Up-front capital cost due to backfilling plant and additional capital costs to produce 29,386 tpa lithium hydroxide increased to US$644m.
• This 2022 PFS Update assumes the life of mine extraction of 13.1% of the Measured and Indicated JORC Resources at Cinovec.
• Use of tailings for backfill will result in a far smaller environmental impact, further enhancing the Project’s already strong ESG credentials.”

On January 19, European Metals Holdings announced: “Successful placing to raise ~AUD14.4M.”

Upcoming catalysts include:

• 2022 – Any off-take or project funding deals.

Piedmont Lithium [ASX:PLL] (PLL)

Piedmont Lithium 100% own the Piedmont Lithium spodumene project in North Carolina.

On January 12, Piedmont Lithium announced: “Piedmont Lithium issues Economic Impact Study for Carolina Lithium Project.”

Upcoming catalysts include:

• 2022 – Possible further off-take or project funding announcements.

You can view the company’s latest presentation 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 7, Galan Lithium announced:

Galan Lithium Limited fully funded. Due to the significant increase in Galan’s market capitalisation (currently $546 million), it is no longer eligible to procure and utilise the additional 10% placement capacity, afforded to ASX listed companies with a market capitalisation of $300 million or less, under ASX Listing Rule 7.1A. A special resolution is required to be approved by shareholders for this additional capacity at the earlier of 12 months from the date of AGM or date of next AGM. Furthermore, given the rapidly evolving and increasing sentiment and acquisition activity in the lithium sector, the Company considered it prudent to seek shareholder approval for additional capacity to issue potential shares at its upcoming AGM…

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.

On January 17, Wealth Minerals announced:

Wealth grants stock options… the Company has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase up to 7,575,000 common shares in the capital stock of the Company. The options are exercisable on or before January 17, 2024 at a price of $0.38 per share.

Investors can view the company’s latest presentation here.

Cypress Development Corp. (TSXV:CYP) (OTCQB:CYDVF)

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

On December 22, Cypress Development Corp. announced:

Cypress Development completes 7-day continuous run at its lithium extraction pilot plant and extends lease agreement…

On January 13, Cypress Development Corp. announced:

Cypress Development announces upsize to previously announced bought deal financing to $16 million.

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 11, Frontier Lithium announced:

Frontier Lithium announces excellent PFS-level metallurgical results producing spodumene concentrate from the Spark deposit… Locked cycle flotation produced a lithium concentrate with grade of 6.15% lithium oxide (Li₂O) with a corresponding Li recovery of 78.1%.

Firefinch Limited (ASX: FFX)(OTCPK:EEYMF)(lithium spinout 50/50 JV with Ganfeng Lithium named as Leo Lithium Limited to list on ASX end Q1 2022)

On January 4, Firefinch Limited announced: “Final investment decision for Goulamina Lithium Project.” Highlights include:

• “The Boards of Firefinch and Ganfeng have approved a Final Investment Decision [FID] for the Goulamina Lithium Project.
• Early-stage engineering works, sterilisation drilling and site-based activities are underway.”

On January 12, Firefinch Limited announced:

Update on Mali situation. Firefinch Limited is monitoring developments in Mali following the imposition of sanctions by ECOWAS (Economic Community of West African States) on the State of Mali on January 9th, 2022. At this stage the Company can confirm that operations at the Morila Gold Mine are continuing as normal with no immediate impact to production, supply or the safety and security of employees and contractors. Site-based activities at the Goulamina Lithium Project have also continued unaffected.

E3 Metals [TSXV:ETMC] (OTCPK:EEMMF)

E3 Metals 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 mineral resource of 6.7 million LCE.

On January 11, E3 Metals announced:

Prototype results show high sorbent durability and consistent recoveries… Peak lithium recoveries reached up to 97% consistent with our initial tests in December…

On January 21, E3 Metals announced:

E3 Metals investigates carbon sequestration in Alberta as a potential for carbon neutrality.

You can read the company’s latest presentation here.

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

On January 11, American Lithium Corp. announced: “American Lithium receives plan of operations and reclamation permit approvals to commence drilling at TLC.”

Iconic Minerals [TSXV:ICM] [FSE:YQGB] (OTCPK: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.

No news for the month.

Arena Minerals [TSXV:AN] (OTCPK:AMRZF)

On January 7, Arena Minerals announced

Arena Minerals commences trading on the OTCQB market in the United States under the trading symbol “AMRZF” and provides corporate update.

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

On December 21 Rio Tinto announced:

Rio Tinto to acquire Rincon Mining lithium project… in Argentina from Rincon Mining, a company owned by funds managed by the private equity group Sentient Equity Partners, for $825 million.

On January 20, Mining.com reported:

Serbian government revokes Rio Tinto’s licences for lithium project… “All decisions (linked to the lithium project) and all licences have been annulled,” Brnabic told reporters after a government session. “As far as project Jadar is concerned, this is an end.”

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

On January 6, Lithium South announced:

Lithium South outlines 2022 corporate plan. To increase shareholder value, management intends to significantly expand the known resource with a drill program and further pumping wells. In addition, the Company will undertake a Feasibility Study using industry proven conventional evaporation and if warranted, Direct Lithium Extraction technology. Lithium South has approximately CDN$ 18 million in working capital and has an extensive advertising program planned to raise investor awareness by showcasing Lithium South’s exploration/development results.

On January 13, Lithium South announced:

Additional 2,400 hectares acquired at Hombre Muerto… The areas will provide a potential water source and a location for anticipated future plant and processing facilities. This will eliminate the need for the Company to locate any future development on current salar locations.

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

No news for the month.

Catalysts

• January 31, 2022 – Uranium One deal set to finalize.

International Lithium Corp. [TSXV:ILC] (OTCPK:ILHMF)

On January 5, International Lithium announced: “International Lithium Corp. completes sale of its 49% stake in Mavis Lake project in Ontario, Canada.” Highlights include:

• “…Proceeds of the Mavis Lake sale being used to strengthen balance sheet further to fund exploration program in Raleigh Lake, where ILC now has claims of 47,700 hectares, and to progress acquisition of other properties…”

Lithium Energy Limited [ASX:LEL]

No news for the month.

Global Lithium Resources [ASX:GL1]

On January 25, Global International Lithium announced: “December 2021 – quarterly report.” Highlights include:

• “Global Lithium Resources (ASX:GL1; GL1, Global Lithium or the Company) continued to build momentum with a busy December Quarter. A major focus included the exploration activities at the Marble Bar Lithium Project [MBLP].
• Positive lithium assay results were also received from the first 14 RC holes, comprising 1,770m of drilling, targeting lithium at the MBLP. Drilling initially focused on the Marble Bar Road reserve where previous RC drillhole MBRC0135 returned 28m @ 1.51% Li2O and 46ppm Ta2O5 from 69m (down hole length, true width not known).
• Heavily overbid placement of $13.6 million, including the introduction of lithium hydroxide producer, Yibin Tianyi Lithium Industry Co Ltd as a cornerstone shareholder investing $6.2 million. Placement allowed company to fast-track exploration and consider additional complimentary growth options.
• Exploration of newly acquired tenement s E45/4724 & E45/4669 to the south of Archer Deposit commenced with a soil sampling program completed and samples sent to lab for analysis.
• Tenements E45/5843 and E45/5812 to the east of Archer Deposit were granted, growing the land position of the MBLP by more than 91km2.
• Exploration continued at the exciting Twin Veins gold prospect. Gold assays from RC drilling program at Twin Veins gold prospect highlighted the potential of this as a stand-al one project. Significant intercepts were encountered in seven of the ten drillholes, indicating a highly successful program with strong potential for future growth.
• Further significant lithium assays were received from drilling which stepping beyond the Archer deposit to focus on following up targeting efforts undertaken since the May 2021 IPO.
• Acquisition completed of 80% of the lithium rights to a second asset, the Manna Lithium Project, 100kms East of Kalgoorlie in Western Australia from Breaker Resources NL [ASX:BRB] for up to $33 million including $20 million in deferred consideration.
• Orlando Drilling selected to carry out the Company’s planned RC 60,000m drilling program due to commence in Q1CY2022.”

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

On January 10, Argentina Lithium and Energy Corp. announced:

Argentina Lithium significantly expands lithium portfolio; Options additional properties on Pocitos Salar in Salta Province. Argentina Lithium & Energy Corp. is pleased to announce that it is expanding its lithium exploration project holdings at the Pocitos Salar in Salta Province, at the heart of Argentina’s world-renowned Lithium Triangle. The Company’s holdings in this salar now total over 26,000 hectares. The Company and its Argentinian subsidiary, Argentina Litio y Energía S.A. have entered into three new option agreements with local vendors to acquire a 100% interest in 10,364 hectares of new properties. The Company already holds an option for 15,857 hectares of properties located on the west side of the Pocitos Salar (see October 14, 2021 News Release). “Pocitos, one of the largest salars within Argentina’s Lithium Triangle, remains a key under-explored salar in Salta. With these new acquisitions, we are now the largest holder of claims in this very prospective basin,” stated Nikolaos Cacos, President and C.E.O.

Battery recycling, lithium processing and new cathode technologies

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

On December 31, Neometals announced: “Primobius to enter North America with Stelco for recycling of electric vehicle batteries.”

You can read my very recent article “An Update On Neometals 5 Key Projects Across The Energy Storage Metals And EV Battery Metals Sector”.

Other lithium juniors

Other juniors include: American Pacific Borate & Lithium [ASX:ABR], Anson Resources [ASX:ASN] [GR:9MY], Ardiden [ASX:ADV], Atlantic Lithium Limited [AIM:ALL](OTCPK:ALLIF), Avalon Advanced Materials [TSX:AVL] [GR:OU5] (OTCQX:AVLNF), Carnaby Resources Ltd [ASX:CNB], Dajin Lithium Corp. [TSXV:DJI] (OTCQB:DJIFF), Electric Royalties [TSXV:ELEC], Eramet [FR: ERA] (OTCPK:ERMAF) (OTCPK:ERMAY), European Lithium Ltd [ASX:EUR] (OTCPK:EULIF), Far Resources [CSE:FAT] (OTCPK:FRRSF), Green Technology Metals Limited [ASX:GT1], Hannans Ltd [ASX:HNR], Infinity Lithium [ASX:INF], International Battery Metals [CSE: IBAT] (OTCPK:RHHNF), Ion Energy [TSXV:ION], Jadar Resources Limited [ASX:JDR], Kodal Minerals (LSE-AIM: KOD), Latin Resources Ltd [ASX:LRS] (OTC:LAXXF), Liberty One Lithium Corp. [TSXV:LBY] (OTCPK:LRTTF), Lithium Australia [ASX:LIT] (OTC:LMMFF), Lithium Chile Inc. [TSXV:LITH][GR:KC3] (OTCPK:LTMCF), Lithium Energi Exploration Inc. [TSXV:LEXI](OTCPK:LXENF), MetalsTech [ASX:MTC], MGX Minerals [CSE:XMG] (OTC:MGXMF), Noram Ventures [TSXV: NRM], One World Lithium [CSE:OWLI] (OTC:OWRDF), Portofino Resources Inc.[TSXV:POR] [GR:POT], Power Metals Corp. [TSXV:PWM] (OTCPK:PWRMF), Prospect Resources [ASX:PSC], Pure Energy Minerals [TSXV:PE] (OTCQB:PEMIF), Quantum Minerals Corp. [TSXV:QMC] (OTCPK:QMCQF), Rock Tech Lithium [CVE:RCK], Snow Lake Lithium (LITM), Spearmint Resources Inc [CSE:SPMT] (OTCPK:SPMTF), United Lithium Corp. [CSE:ULTH] (OTC PINK:ULTHF)[FWB:0UL], Vision Lithium Inc. [TSXV:VLI] (OTCQB:ABEPF), Winsome Resources Limited [ASX:WR1].

Conclusion

January saw lithium spot prices surge higher again to new record highs.

Highlights for the month were:

• Analysts are forecasting lithium prices to remain strong in 2022 due to limited new supply and strong demand.
• Sayona Mining expands northern Québec lithium hub with 121 new claims.
• Vulcan Energy further licenses significantly grows their Zero Carbon Lithium™Project in Germany, signs agreement with Nobian for the development of the Central Lithium Plant, obtains Cesano Permit in Italy.
• POSCO to spend $830 million for 25ktpa LiOH operation at Hombre Muerto.
• Liontown Resources signs binding Offtake with LG Energy Solution.
• LPI to demerge its WA hard rock lithium assets. Maricunga Stage One DFS delivers an after tax NPV8% of US$1.4B.
• Lake Resources Kachi Production increased to 50,000 tonnes/year lithium carbonate as Base Case for DFS.
• European Metals Holdings PFS update delivers 75% increase in Cinovec NPV to US$1.94b, 16% increase in production to 29,386tpa.
• Frontier Lithium announces excellent PFS-level metallurgical results producing spodumene concentrate from the Spark deposit.
• Firefinch Limited – The Boards of Firefinch and Ganfeng have approved a Final Investment Decision [FID] for the Goulamina Lithium Project.
• Serbian government revokes Rio Tinto’s licences for Jadar lithium project. Rio announced in December a plan to buy the Rincon Lithium Project in Argentina for $825m.
• Lithium South acquires an additional 2,400 hectares at Hombre Muerto.
• Global Lithium Resources acquisition completed of 80% of the lithium rights to a second asset, the Manna Lithium Project, in WA.
• Argentina Lithium significantly expands lithium portfolio; Options additional properties on Pocitos Salar in Salta Province.

As usual all comments are welcome.