• Australia’s battery pipeline is second only to China
• Piedmont and Atlantic Lithium in trading halt pending a response to an online report by US short seller Blue Orca Capital
• Lord Resources kicks off 5,000m reverse circulation drilling program at Horse Rocks lithium project

All your lithium news, Thursday March 9.

 

According to research firm BloombergNEF, Australia has at least 250 planned battery developments with a potential capacity of almost 130,000 megawatt hours in a pipeline that’s second only to China, thanks to the closure of major coal fired plants over the next decade.

Although most projects are at an early planning stage and may not complete either financing or permitting, BNEF says the country is forecast to lift installations this year and in 2024.

“Battery sites are also generating more revenue in Australia and benefited from increased volatility in the nation’s power market in 2022,” the research firm said in a report this month.

 

Here’s how ASX lithium stocks are tracking:

A total of 45 lithium companies finished in the green, 48 fell flat, and another 44 tumbled into the red zone.

 

Who’s got news out?

PIEDMONT LITHIUM (ASX:PLL), ATLANTIC LITHIUM (ASX:A11)

Both Piedmont and Atlantic Lithium are in trading halts pending a response to an online report by US short seller Blue Orca Capital who claims the Ewoyaa lithium project in Ghana, where Piedmont expects to be receiving spodumene concentrate for a Tennessee lithium plant from 2025, is unlikely to ratified.

It claims “tens of millions” of dollars (actually $730,000 plus a future production royalty) were paid to a company owned by the son of a prominent Ghanaian Asiedu Nketiah, known colloquially as General Mosquito, during the acquisition of the mine.

 

LORD RESOURCES (ASX:LRD)

A 5,000m reverse circulation drilling program is underway at Lord Resources’ Horse Rocks Lithium project in Western Australia to test five high priority geochemical anomalies.

The company hopes to determine the orientation of the mapped pegmatites, along with the geometry of potential mineralisation.

 

BATTERY AGE MINERALS (ASX:BM8)

Battery Age Minerals has awarded the drilling contract for its maiden program at the Falcon Lake Lithium project in Manitoba, Canada to Rodren Drilling.

Final planning and mobilisation activities for the maiden drilling program are now well underway, with drilling operations expected to commence in 4-6 weeks.

 

KRAKATOA RESOURCES (ASX:KTA)

Krakatoa has delivered a sizeable maiden resource estimate of 5Mt at 0.14% rubidium and 0.05% lithium at the company’s King Tamba project in Western Australia.

The company says the size of the mineral resource estimate has come in beyond expectations and larger than its exploration target.

“2023 is shaping up to be a busy year at King Tamba and completion of the maiden mineral resource estimate allows the company to commence strategic discussions with end users and industry groups related to potential development, funding, off-take arrangements, and downstream processing opportunities,” KTA CEO Mark Major says.

 

BALKAN MINING AND MINERALS (ASX:BMM)

Balkan Mining and Minerals has entered into a binding purchase and sale agreement to acquire 100% of the Barbara Lithium exploration project located in the Thunder Bay North Mining District of Ontario, Canada.

“With this acquisition, we expand our portfolio footprint in Ontario to 120km further demonstrating our commitment to the region,” BMM managing director Ros Cotton says.

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