Essential Metals [ASX:ESS] (OTCPKIONF)
Essential Metals has 9 projects (lithium, gold, gold JV, and nickel JV) all in Western Australia. Their flagship Pioneer Dome Lithium (spodumene) Project has a JORC Compliant Total Resource of 11.2Mt at 1.21% Li2O.
On October 7, Essential Metals announced: "Positive results from additional metallurgical test work completed at Dome North." Highlights include:
......
- "Previous metallurgical test work undertaken in 20201 on fresh rock mineralisation of the Cade deposit (‘Cade Fresh’
which represents the main component of the Dome North Mineral Resource, demonstrated high lithium recoveries (74%-82%) with the production of marketable concentrates....
- The Cade Weathered composite returned similar Heavy Liquid Separation (HLS) and batch Whole of Ore Flotation (WOF) results to the Cade Fresh test results, targeting a concentrate grade of 5.7% Li2O, whilst the Davy Fresh sample returned a similar HLS result but a slightly lower WOF result....
- The results will be incorporated into the ongoing Scoping Study for the Pioneer Dome Lithium Project, with the Study outcomes to be used to help finalise a framework for potential partner/s to be involved in advancing the Pioneer Dome Lithium Project to production."
Lithium price news
Asian Metal reported during the past 30 days, the 99.5% China lithium carbonate spot price was up 6.05% and the China lithium hydroxide price was up 5.68%. The Lithium Iron Phosphate (Li 3.9% min) price was up 3.33%. The Spodumene (6% min) price was up 4.53% over the past 30 days.
Benchmark Mineral Intelligence reported lithium prices of (battery grade carbonate - RMB 529,000 ($73,525), hydroxide RMB 524,000 ($72,825), and Benchmark stated (paywalled): "In addition to robust demand growth from the EV industry, contacts reported to Benchmark that burgeoning demand from the energy storage sector in recent months has also acted to fill several lithium producers order books until 2023, placing upward price pressure on the lithium chemicals market."
China Lithium carbonate spot price - CNY 542,500 (~USD 74,891)
https://seekingalpha.com/article/4549289-lithium-junior-miners-news-october-2022
Essential Metals [ASX:ESS] (OTCPK:PIONF) Essential Metals has 9...
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