Lithium Junior Miner News For The Month Of May 2018

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Includes: AAL, ABEPF, AISSF, AVLIF, AVLNF, AVNLF, AZZVF, BCRMF, CRECF, DJIFF, DMNXF, EEYMF, ERPNF, FRRSF, KDDRF, LAXXF, LIACF, LITH, LMMFF, LSSCF, LTHHF, MGXMF, MLNLF, NMKEF, NNOMF, NTTHF, PEMIF, PLL, PLUUF, PNXLF, STLHF, SYA, WMLLF
by: Matt Bohlsen
Summary

Lithium spot and contract price news - Spot prices very slightly down and contract prices rising.

Lithium market news - Volkswagen 40b Euros battery supply deal.

Junior lithium miner company news - Nemaska Lithium secures funding for mine with C$400 million equity raise.

Introducing Core Exploration and Plateau Energy Metals.

Welcome to the May 2018 edition of the "junior" lithium miner news. I have categorized those lithium miners that won't likely be in production much before 2020 as the juniors, rather than market cap as that fluctuates too much.

May saw two amazing deals for different reasons. The Volkswagen (VLKAY) 40 billion Euros battery supply deal was truly staggering yet seems almost ignored by investors in the EV metals market. It seems to me investors don't yet understand the impact of a 40 billion Euro deal and how that will spread down the line to help fund the junior EV metal miners. Then, the Nemaska Lithium deal raising a massive C$400m restored my faith that investors can see the potential for the sector. Finally, the large lithium producers continue to deliver large lithium profit increases year on year, helped along with rising lithium contract prices. An aMAYzing month after all.

Lithium market and prices summary

During May, 99.5% lithium carbonate China spot prices were down 1.42%. Global Lithium Carbonate Equivalent (LCE) contract prices are around US$16,000/tonne and are up about 20-25% on 2017 prices. SQM (NYSE:SQM) recently reported its average LCE contract price in Q1 2018 was US$16,400/MT.

Lithium China Spot prices - Over USD 20,000/tonne

https://static.seekingalpha.com/uploads/2018/2/26/37628986-15196369259910638.png

Source: Lithium Americas January 2018 company presentation

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 May 2018" article. The big news this month was Volkswagen 40 billion Euros battery deal.

Junior lithium miners company news

Bacanora Lithium [TSXV:BCN] [AIM:BCN] [GR:2F9] (BCRMF) - Formerly Bacanora Minerals

On May 11, Bacanora Lithium announced:

"Issue of equity on exercise of options. The Company has received notification from an option holder to exercise options over 125,000 new ordinary shares of 10p each in the Company ("Ordinary Shares") at a price of CAD$1.39 each."

On May 24, Bacanora Lithium announced:

"Third quarter financial statements. Summary results of the Feasibility Study ['FS'] on Sonora confirm the positive economics and favourable operating costs of a 35,000 tonnes per annum ["tpa"] battery grade lithium carbonate ["Li2CO3"] operation at the Company's flagship Sonora Project. Pre-tax project Net Present Value ["NPV"] of US$1.253 billion at an 8% discount rate. Internal Rate of Return ["IRR"] of 26.1%. Life of Mine ["LOM"] operating costs of US$3,910/t Li2CO3."

Investors can view the company's latest presentation here.

Upcoming catalysts include:

  • 2020 - Plan to commence production ramping to 17,500 tpa, and in stage two 35,000 tpa.

Nemaska Lithium [TSX:NMX] [GR:NOT] (OTCQX:NMKEF)

On April 27, Nemaska Lithium announced,

"Nemaska Lithium and Northvolt announce signature of agreement in principle for supply of lithium hydroxide. Under this agreement in principle, Nemaska Lithium agreed to supply, through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation Inc., and Northvolt agreed to purchase, on a take-or-pay basis, up to 5,000 but not less than 3,500 metric tonnes per year of lithium hydroxide produced at the Corporation's commercial plant in Shawinigan, for a 5-year supply period commencing upon the start of commercial production at both the Shawinigan Plant and Northvolt's projected Skellefteå factory in Sweden (the "N Factory"). In connection with this supply of lithium hydroxide, Northvolt has agreed to deliver to the Corporation a EUR 10M promissory note which, at the Corporation's option, can be converted into voting shares of Northvolt in connection with the N Factory funding, or redeemed at cost plus an agreed-upon interest rate."

On May 10, Nemaska Lithium announced,

"Nemaska Lithium announces pricing and closing of books on USD 350M bond offering. The Bonds are USD-denominated with a five-year term, unless earlier repurchased or redeemed, and bear interest at a rate of 11.25% per annum, payable quarterly and in arrears on the relevant interest payment day in February, May, August and November of each year, commencing on August 30, 2018."

On May 22, MarketWatch reported,

"Nemaska Lithium announces C$280,000,000 bought deal public offering of common shares and C$80,000,000 contemporaneous private placement of common shares. The offer is at C$1.00 per share and is expected to close on or about May 30, 2018."

On May 23, Reuters reported,

"Nemaska Lithium secures funding for mine with C$400 million equity raise. Canada's Nemaska Lithium (NMX.TO) said on Tuesday it had secured funding of up to C$402 million ($314 million) from investors, which it plans to use to build a mine and processing plant to produce lithium, the key ingredient for rechargeable batteries. "Today marks a big day in the life of Nemaska Lithium, as we are announcing the last piece of financing required to start the commercial development of the Whabouchi lithium mine project," Nemaska Chief Executive Guy Bourassa said in a statement."

You can read more on my article on Nemaska Lithium here and the latest company presentation here.

Upcoming catalysts include:

  • 2018 - Off-take agreements and project financing announcements.
  • 2020 - Possible production start.

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

On May 1, Critical Elements Corporation announced,

"Critical Elements Corporation is pleased to announce that it has closed its private placement of 7,000,000 units (the "Units") at a price of $1.00 per Unit, which includes 2,000,000 Units issued pursuant to the exercise in full of the Underwriters' option, for gross proceeds totaling $7,000,000 (the "Offering"). The syndicate of underwriters for the Offering was led by Canaccord Genuity Corp., together with BMO Capital Markets and GMP Securities L.P. (the "Underwriters")."

Investors can read my article "Critical Elements - A Lithium Miner With An Exceptional Buying Opportunity", written when the stock was at CAD 0.56.

Upcoming catalysts include:

  • H1, 2018 - Rose stage 2 Feasibility Study due.
  • 2018 - Project financing announcements, potential resource upgrade.
  • 2020/21 - Possible producer.

Sayona Mining [ASX:SYA) (OTC:DMNXF)

On April 30, Sayona Mining Limited announced,

"Sayona Mining Limited is pleased to announce March 2018 quarterly report."

Highlights include:

  • "Authier, Canada - Major focus on completion of the Definitive Feasibility Study and permitting activities required for the fast-track development of the project.
  • Western Australian Lithium, Australia - Rock chip and soil sampling programs completed at Mallina and Deep Well.
  • Capital raising - subsequent to the end of the quarter, a $15 million capital raising comprising an $11 million placement (which is completed) and $4 million rights issue were announced."

On May 3, Sayona Mining announced:

"Management changes. Sayona Mining Limited announces that Mr Corey Nolan has tendered his resignation as Chief Executive Officer ("CEO"). Mr Nolan will continue in his role until the completion of the Definitive Feasibility Study ("DFS") which is expected in June 2018."

Investors can also read a recent Independent Investment Research report here, with a price target of A$0.102. Investors can read the company presentation here, and my interview "Sayona Mining CEO Corey Nolan Talks With Matt Bohlsen Of Trend Investing."

Upcoming catalysts include:

  • 2018 - Drill results for Authier Lithium Project.
  • June 2018 - DFS to be released for Authier.
  • 2020 - Production could begin.

Argosy Minerals [ASX:AGY][GR:AM1] (ARYMF)

Argosy has an interest in the Rincon Lithium Project in Argentina, targeting a fast-track development strategy.

On May 28, Argosy Minerals announced,

"Argosy purchases Rincon tenement portfolio. Argosy Minerals Limited is pleased to announce that the Company has executed purchase agreements for the mining titles secured via binding and exclusive option rights, and has fulfilled the conditions to complete the 100% acquisition of those tenements -namely the Salonix properties, Mina Reina and Mina Tincal, and bring them into Puna Mining S.A. (Argosy current 77.5% interest), to complement the existing mining titles and mining easement rights, warehouse, plant and equipment that is all currently owned 100% by Puna Mining."

Highlights include:

  • "Argosy completes outright purchase of Rincon Lithium Project mining tenements previously under option.
  • Rincon Project comprises a total of up to 2,572 hectares of significant lithium and associated infrastructure services, and mining easement right landholdings."

Investors can view the company's latest investor presentation here.

AIS Resources [TSXV:AIS] (OTCQB:AISSF)

AIS Resources is a Canadian junior lithium explorer and developer fast tracking towards production at their 100% optioned to own flagship Guayatayoc Laguna in Argentina. The company also has other Argentina lithium projects at Vilama salar and Quirón Salar.

No news for the month. The company is currently drilling at Chiron, so drill results are expected soon.

Investors can read the company presentation here, my article on Trend Investing "AIS Resources is racing towards lithium production in Northern Argentina", or my Chief Operating Officer Phillip Thomas interview here.

Upcoming catalysts include:

  • H1 2018 - Drill results from Chiron.
  • H2 2018 - M&I Resource announcement for Guayatayoc and/or Chiron.
  • Late 2018 - FS for Guayatayoc and/or Chiron.
  • 2020 - Plan to commence lithium production, initially 8,000 tpa, later 16,000tpa plus.

Kidman Resources [ASX:KDR] [GR:6KR] (OTCPK:KDDRF)

2017 news has included the 50/50 JV with SQM for the Mt Holland Lithium project, and a proposal for a refinery located in WA.

On May 4 Kidman Resources announced,

"Western Australia Lithium (NYSE:WAL), its 50:50 joint venture with Sociedad Quimica y Minera de Chile (NYSE:SQM), has entered into an exclusive option with Western Australian Land Authority (Landcorp) to lease a premier site in the Kwinana Strategic Industrial Area in Western Australia."

On May 17 Kidman Resources announced,

"Kidman enters binding lithium hydroxide offtake agreement with Tesla. 3-year fixed-price take-or-pay agreement with two 3-year term options. The Agreement equates to less than 25% of Kidman's portion of initial nameplate production for the first three years from the refinery."

Reuters reported,

"Australia's Kidman Resources to supply lithium for Tesla cars. Kidman's deal with Tesla, which is for an initial three-year term on a "fixed-price take-or-pay basis" from the first product delivery, features two three-year term options."

You can view the latest company presentation here.

Upcoming catalysts include:

  • 2018 - PFS release expected.
  • 2021 - Commence lithium production.

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

On April 30, European Metals Holdings announced: "Quarterly activities report for March 2018."

Highlights include:

  • "Lithium recoveries improved to 95%.
  • Ongoing development of Cinovec Project.
  • Appointment of COO (post reporting period)."

Upcoming catalysts include:

  • 2018 - Off-take discussions.
  • Late 2018 - DFS to be released.
  • Mid 2019 - Bankable Feasibility Study to be released.
  • Late 2021 - Production to commence.

Investors can read my article on European Metals Holdings here, or view the company's presentation here.

Neo Lithium [TSXV:NLC] (OTC:NTTHF)

On May 10, Neo Lithium announced,

"Neo Lithium expands pilot evaporation ponds; Drills deep aquifer along entire 3Q Project; Provides significant project updates." Of key significance was the new method for calcium removal without the need of costly additives and reagents, and that the new aquifer will help a resource upgrade, both in turn help the economics for the DFS."

Investors can read my article "Neo Lithium Corp. Has Great Potential", back when the stock was at CAD 1.09.

Investors can read the latest company presentation here, and an excellent video here. My CEO interview is available on Trend Investing here.

Upcoming catalysts include:

  • Q3 2018 - Updated resource estimate.
  • Q4, 2018 - Definitive Feasibility Study. Project financing discussions.
  • 2019 - Construction planned to commence.
  • 2021 - Lithium production to begin.

Birimian Ltd [ASX:BGS] (OTC:EEYMF)

Birimian's projects include the Goulamina Lithium Project, the advanced Massigui Gold Project, and the Dankassa Gold Project, all situated in southern Mali.

On April 30, Birimian Ltd. announced, "Quarterly activities report for period ending 31 March 2018."

Highlights include:

Goulamina Lithium Project:

  • A highly successful six-month resource extension and definition drilling program at Goulamina discovers five new pegmatites and substantially increases resource base.
  • Goulamina total Indicated and Inferred Mineral Resource doubled- revised Mineral Resource is 65Mt @ 1.43% Li2O for 931Kt of Li2O. Increase of 32.1Mt @1.50% compared to the previous Mineral Resource. Contained Li2O up from 451Kt to 931Kt. New material added generally higher grade, leading to increase in the average grade of the Mineral Resource.
  • Revised Mineral Resource is from Main, West and Sangar deposits only. Yando, Danaya and Sabali pegmatites are yet to be included. There is a strong likelihood of further significant increases in the Mineral Resource for Goulamina.
  • A further updated Mineral Resource estimate will be undertaken following completion of the current exploration program underway at Yando and Danaya.
  • Results exceed Birimian's expectations and validate the strategy to aggressively explore Goulamina. Results bode well for the maiden Ore Reserve and suggest improved project economics in the upcoming revised PFS.

Dankassa and Massigui Gold Projects:

  • Cash flow from Viper and N'tiola sale to Morila expected to commence imminently.
  • Koting augur drilling program and airborne survey of gold and lithium tenement areas successfully completed.

Corporate:

  • Company is well funded for ongoing exploration and study work, with a cash balance of A$9.057M at 31 March 2018.
  • Appointment of highly experienced Chief Financial Officer and Company Secretary."

On May 25, Birimian Ltd. announced,

"Government of Mali approval for mining. Birimian Limited advises that the Government of Mali has approved the Ministerial Decree required to extend the mineral exploitation permit held by Société des Mines de Morila SA (Morila) to the Viper and N'tiola Areas of Interest (Areas of Interest), following the surrender of these Areas of Interest by Birimian's wholly-owned subsidiary company, Birimian Gold Mali SARL (BGM)."

You can view the latest company presentation here.

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

On May 16, LPI announced:

"Update on sale of the Centenario lithium project in Argentina. As announced on 2 May 2018, the completion date of the Transaction was extended from 30 April 2018 to 14 May 2018. The Company and the Purchaser have now agreed a further extension to 14 June 2018. On completion, the Purchaser will be required to pay A$3M to the Company or up to A$3.25M in cash and shares in the Purchaser if the Company elects to receive a mix of cash and shares."

On May 23, LPI announced:

"CEO Martin Holland has resigned. He will stay on until June 30, while the company seeks a replacement."

Investors can read my article "Lithium Power International Has A Very High Grade And Expanding Lithium Project In Chile", as well as my CEO interview on Trend Investing here.

Upcoming catalysts:

  • Q4 2018 - DFS to be released.

Advantage Lithium (OTCQB:AVLIF) [TSXV:AAL]

On May 8, Advantage Lithium announced:

"Advantage Lithium Corp. is pleased to announce that is has engaged WorleyParsons Chile S.A. (NYSE:WP) to complete a Preliminary Economic Assessment (PEA) on its flagship Cauchari Project in Jujuy, Argentina. based on phase II results with an expected increase to its resource base which will be released this month. The PEA scope includes a standalone plant in the range 15 -20 Ktpa final lithium product and is scheduled for completion in July 2018."

On May 23, Advantage Lithium announced, "an updated resource estimate of 3.0 Mt LCE at Cauchari." CEO David Sidoo commented: "In the span of just over a year, we have delivered a +600% increase to the lithium resource at our Cauchari Project."

Upcoming catalysts:

  • Q2 2018 - PEA

Millennial Lithium Corp [TSXV:ML] (OTCQB:MLNLF) (OTCQX:MLNLF)

Millennial has tenements at the Pastos Grande Lithium project and the Cauchari East lithium project.

On May 14, Millennial Lithium announced,

"Millennial Lithium Corp. engages leading talent in lithium ponds processing and reports on progress. Millennial Lithium Corp. is pleased to report that with the engagement of Mr. Peter Ehren, the Company has added to its world-class team a leading expert in evaporative processes for lithium production."

You can view the company's latest investor presentation here.

Upcoming catalysts:

  • 2018 - Working on their Feasibility Study.

LSC Lithium [TSXV:LSC] (OTC:LSSCF)/Dajin Resources [TSXV:DJI] (OTCPK:DJIFF)

LSC Lithium is focused on six development stage lithium projects: Pozuelos, Pastos Grandes, Salinas Grandes (Salta), Salinas Grandes (Jujuy), Rio Grande and Jama. LSC Lithium Corporation (51%) has partnered with Dajin Resources (49%) for some tenements primarily located in the Salinas Grandes/Guayatayoc salt lakes basins, Argentina.

No news for the month.

Upcoming catalysts include:

  • 2018 - PFS (Pozuelos and Pastos Grandes).

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 May 7, Wealth Minerals announced:

"Wealth arranges $5M non-brokered private placement. Wealth Minerals Ltd. arranged a non-brokered private placement (the "Placement") of up to 4,545,455 units (the "Units") at a price of $1.10 per Unit (the "Offering") for gross proceeds of up to $5,000,000."

On May 16, Wealth Minerals announced,

"Wealth Announces Engagement of Investor Relations Consultant and Comments on Promotional Activities. Wealth Minerals Ltd. Frankfurt: [EJZN] announces that it has entered into an agreement dated May 15, 2018 (the "FMT Marketing Agreement"), whereby it has engaged Future Money Trends, LLC ["FMT"] for a period of one year at the aggregate cost of $250,000 to provide financial publishing and digital marketing services to the Company. Pursuant to the FMT Marketing Agreement, FMT will raise public awareness of the Company (including its social media presence) and will promote the Company's business."

On May 23, Wealth Minerals announced,

"Wealth closes oversubscribed non-brokered private placement. Wealth Minerals Ltd. Frankfurt: [EJZ], announces it has closed an oversubscribed non-brokered private placement previously announced on May 7, 2018 (the "Placement"). A total of 5,678,236 units (the "Units") were issued under the Placement at a price of $1.10 per Unit for gross proceeds of $6,246,060."

Investors can view the company's latest presentation here.

Pure Energy Minerals [TSXV:PE] (OTCQB:PEMIF)

On May 22, Pure Energy Minerals announced,

"Pure Energy Minerals Limited announces initial drilling results at Terra Cotta, Argentina. The average lithium concentration for depth-specific samples collected from TC-DD-01 was 29 milligrams per liter (mg/L) lithium, ranging from 3 mg/L to 43 mg/L lithium. Sample depths ranged from 20 meters to 370 meters below ground surface. The depth-specific samples collected from TC-DD-02 averaged 65 mg/L lithium, including a range of lithium values from 29 mg/L to 93 mg/L lithium at depths from 15 meters to 310 meters below ground surface."

You can read the company's latest presentation here.

Upcoming catalysts:

  • H1 2018 - Drill results at the Terra Cotta Argentina Project.

AVZ Minerals [ASX:AVZ] (OTC:AZZVF)

On May 21, AVZ Minerals announced:

"Positive preliminary metallurgical test work results for Manono lithium project. AVZ Minerals is pleased to provide an update on initial and preliminary metallurgical test work completed on two samples of coarse assay sample reject material, from drill holes MO17DD001 and MO17DD002, from the Company's Manono Lithium Project in the Democratic Republic of Congo. The test results for samples from assay laboratory reject material are very encouraging with a number of potential processing routes now available to produce a spodumene concentrate product of +6% Li2O at recoveries of 73% Dense Media Separation [DMS] to 94% Flotation. The preliminary test work indicates a +6% spodumene concentrate can be produced at 3.35mm crush size with a high overall recovery utilising standard whole-of-ore Flotation or several variations of combined DMS and Flotation."

You can view the November company presentation here.

Upcoming catalysts include:

  • H1 2018 - Drill results and maiden resource estimate.
  • Q4 2018 - DFS due.

Core Exploration [ASX:CXO] [GR:7CX]

I have added Core Exploration to the monthly news due to their strong potential to make it to production, possibly by 2019/2020.

Core Exploration 100% own the Finniss Lithium Project (including the Grants deposit) in Northern Territory Australia. Significantly they already have an off-take partner with China's Yahua ($2.4b market cap, large lithium producer). The offtake agreement is for the supply of one million dry metric tonnes of direct shipping lithium ore from the Grants lithium deposit. The company states - "High potential for additional resources from 500km2 covering 100s of pegmatites."

Note: Yahua is one of China's largest lithium producers and is wholly-owned by the billion dollar Sichuan Yahua Industrial Group Co Ltd (SHE: 002497).

On May 8, Core Exploration announced,

"Core Exploration Ltd is pleased to announce a Resource upgrade for its Grants Lithium deposit at the Finniss Lithium Project in the Northern Territory which has more than doubled the size of the Indicated Resource and substantially increased the Resource confidence ahead of Feasibility Studies to be completed in 2018. The Grants Lithium Resource defined comprises 2.0 Mt at 1.5% Li2O and is one of the highest grade spodumene resources in Australia. Over half of the Grants Lithium Resource is now contained in the Indicated category."

On May 9, Core Exploration announced,

"Core Exploration Limited [ASX:CXO] is pleased to announce that it has issued 26,415,094 fully paid ordinary shares as announced on 7 May 2018. The Company has issued the Shares to Ya Hua International Investment and Development Co. Ltd under a share placement raising $1,400,000 (before costs). Core has also issued 500,000 unquoted options as consideration for investor relations services to Cannings Purple. The unquoted options have an exercise price of $0.10 and expiry of 9 May 2020 and have been issued under the Company's 15% placement capacity under Listing Rule 7.1."

On May 23 Core Exploration announced,

"May 23, 2018 - Maiden estimate at BP33 increases lithium resources at Finniss project by 70%."


Highlights include:

  • "Maiden Lithium Resource estimate for BP33 grading at 1.4% Li2O.
  • Lithium Resources at Finniss expanded by 70% to 3.45Mt @ 1.4% Li2O, with addition of BP33.
  • BP33 Resource open directly south of 75m @ 1.68% Li2O drill intersection.
  • Resource extension and exploration drilling to recommence at BP33 next month aimed at increasing the size of the maiden resource.
  • Significant potential to grow Finniss Project Resources as BP33 and Grants are only two of many lithium rich pegmatites identified within Core's large 400km2 of tenure at Finniss.
  • PFS for development of Grants deposit expected next month."

Investors can read a recent company presentation here, and my recent Trend Investing article here.

Upcoming catalysts include:

  • Mid 2018 - Maiden JORC resource estimate.
  • H2 2018 - PFS completion.
  • Late 2019 - Production target.

Prospect Resources [ASX:PSC]

Prospect Resources own the Arcadia Lithium Project in Zimbabwe. They have an ore Reserve of 26.9Mt @ 1.31% Li2O and 128 ppm Ta2O5. Mineral Resources are 43.2 Mt @ 1.41 % Li2O and 119 ppm Ta2O5. The company has an equity off-take partner Sinomine for approximately 70% of Phase 1 production over 7 years, including a S$10,000,000 prepayment under off-take agreement.

On March 19, Prospect announced: "Significant value upgrade following updated PFS - Arcadia."

Results include:

  • "Pre-tax NPV10% of USD340m, IRR of 77% and payback of 2 years.
  • LoM Revenue USD2.6 Billion at a Cash Operating Cost of USD287 per tonne concentrate.
  • Capital Expenditure estimate of USD52.5m."

On April 27, Prospect Resources released their Quarterly Activities Report which you can read here.

Investors can read a recent Hunter Capital research report here with a price target of AUD 0.14.

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

Cypress Development owns tenements in the Clayton Valley, Nevada, USA. On May 1 Cypress announced a large maiden NI 43-101 compliant lithium resource as shown below. Average grade is 899 ppm (0.09%) Li (equivalent to 899mg/L), hosted in clay.

http://epsteinresearch.com/wp-content/uploads/2018/04/Screen-Shot-2018-04-30-at-3.15.16-PM.png

Source

The company states -

"Lithium occurs in illite and montmorillonite clays throughout the sediments", and "metallurgical tests have shown the claystone is acid leachable with lithium extractions ranging up to 80% in agitated leach using sulfuric acid."

On May 1, Cypress Development announced,

"Cypress Development maiden resource estimate for the Clayton Valley Lithium Project, Nevada. Total indicated mineral resource of 597 million tonnes at an average grade of 899 ppm (0.09%) Li, which equates to a contained 2.857 million tonnes of lithium carbonate equivalent [LCE]. Total inferred mineral resource of 779 million tonnes at an average grade of 888 ppm (0.089%) Li, which equates to a contained 3.683 million tonnes of LCE."

On May 25, Cypress Development announced, "Cypress granted DTC eligibility."

The Company is currently doing metallurgical testing and working on their PEA.

Piedmont Lithium [ASX:PLL] (OTC:PLLLY)

Piedmont Lithium state they are "the only US lithium spodumene project", with their 100%-owned Piedmont Lithium project in North Carolina. The company has already identified a 4+ kilometers of strike length in Phase 1 drilling, with high-grade lithium in every drill hole. Drilling is ongoing to define and increase the resource.

On May 16, Piedmont Lithium announced:

"Further high grade lithium mineralisation identified during resource drilling in North Carolina. The Company has received assay results from a further 41 holes from the current drilling campaign on its properties in the Carolina Tin-Spodumene Belt ["TSB"] in North Carolina, United States. The Company remains on schedule to release a maiden Mineral Resource estimate in accordance with the JORC Code by the end of the 2nd Quarter 2018."

Upcoming catalysts include:

  • End Q2 2018 - Maiden JORC resource estimate.
  • Q3 2018 - Scoping Study results to be announced.

You can view the company's latest presentation here.

Plateau Energy Metals [TSXV:PLU] [GR:QG1A] (OTCQB:PLUUF)

Plateau Energy Metals Inc. (formerly Plateau Uranium) is a Canadian lithium and uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 91,000 hectares (910 km2) situated near significant infrastructure.

The lithium resource is quite unusual as it is hosted in volcanic tuff, making potential lithium extraction much quicker than brine. Grade is also much higher than average brine grades.

Upcoming catalysts include:

  • Mid 2018 - A lithium resource upgrade.
  • Q4 2018 - PEA to be released.

Investors can read my recent Trend Investing article here.

Nano One Materials [TSXV:NNO] (OTCPK:NNOMF)

On May 03 Nano One Materials announced,

"Nano One granted Korean battery patent. Dr. Stephen Campbell, Principal Scientist at Nano One, is pleased to announce that Nano One has been issued Korean Patent Number 10-1839000. This is Nano One's seventh patent and is directed to an improved lithium ion battery utilizing Nano One proprietary cathode material. "This patent extends Nano One's intellectual property protection in Asia," said Dr. Campbell, "where battery and materials markets are growing at a tremendous pace. We are executing successfully on our patenting strategy and putting protections in place to work with strategic groups in the region."

Lithium projects by development stage (not updated)

https://static.seekingalpha.com/uploads/2018/1/30/37628986-15173144441667323.png

Source: Sayona Mining October 2017 company presentation

Other lithium juniors

Other juniors include: ABE Resources [TSXVABE] [GR:1AJ2] (OTCQB:ABEPF), American Lithium Corp. [TSX-V: LI] (OTCQB:LIACF), Argentina Lithium and Energy Corp. [TSXV: LIT] (OTCQB: OTCQB:PNXLF), Avalon Advanced Materials [TSX:AVL] [GR:OU5] (OTCQX:AVLNF), Far Resources [CSE:FAT] (OTCPK:FRRSF), Force Commodities [ASX:4CE], Hannans Ltd [ASX:HNR]), Lake Resources [ASX:LKE] [GR:LK1], Latin Resources Ltd [ASX: LRS] (OTC:LAXXF), Lithium Australia [ASX:LIT] (OTC:LMMFF), Lithium Chile [TSXV:LITH] (OTCPK:LITH), MetalsTech [ASX:MTC], MGX Minerals [CSE:XMG] (OTC:MGXMF), NRG Metals Inc. [TSXV:NGZ] (OTCQB:NRGMF), Portofino Resources Inc.[TSXV:POR] [GR:POT], Savannah Resources [LSE:SAV] (GR:AFM], and Standard Lithium [TSXV:SLL] (OTC:STLHF).

Conclusion

The juniors continue to progress extremely well as evidenced by the huge Nemaska Lithium deal and the Kidman-Tesla (NASDAQ:TSLA) deal in May.

My highlights for May were:

  • The Volkswagen 40 b Euros battery supply deal.
  • Reuters - "Nemaska Lithium secures funding for mine with C$400 million equity raise."
  • Kidman enters binding lithium hydroxide offtake agreement with Tesla.
  • Advantage Lithium updated resource estimate of 3.0 Mt LCE at Cauchari.
  • Cypress Development Corp. announced a large maiden NI 43-101 compliant lithium Indicated Resource of 2.85mt contained LCE.

As usual all comments are welcome.

Disclosure: I am/we are long NYSE:ALB, NYSE:SQM, ASX:ORE, ASX:GXY, ASX:PLS, TSX:LAC, ASX:AJM, ASX:EMH, TSXV:ILC, ASX:AVZ, ASX:LPI, ASX:PLL, ASX:SYA., TSXV:AIS, TSXV:WML, ASX:CXO, TSXV:PLU. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: The information in this article is general in nature and should not be relied upon as personal financial advice.

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