Core Viewpoint - Lithium Chile Inc. has entered into a definitive share purchase agreement with China Union Holdings Ltd. for the sale of its Argentine subsidiary, Argentum Lithium S.A., marking a significant milestone for the company and allowing for the return of capital to shareholders while focusing on its Chilean portfolio [1][2]. Transaction Highlights - The transaction involves the sale of 100% of the shares in Argentum, which holds interests in the Arizaro salar lithium project in Salta Province, Argentina [3]. - The purchase price is set at USD $175,000,000, with 92.5% payable at closing and 7.5% held in escrow for 18 months to secure post-closing indemnity obligations [3]. - A guarantee deposit of USD $5,000,000 will be funded by the purchaser into an escrow account to secure payment obligations [3]. Closing Conditions - The transaction is subject to several conditions, including the acquisition of an additional 17.8% equity interest in ARLI S.A. by Argentum, increasing its ownership to 80% [3]. - Other conditions include the divestiture of the Block 4 property by SALTA LITIO S.A., receipt of governmental and regulatory approvals, acceptance by the TSX Venture Exchange, and any required shareholder approvals [3]. Termination Fees and Closing Timeline - The definitive agreement includes a termination fee of USD $17,500,000 payable by either party under specified circumstances [3]. - Closing is expected to occur on the fifth business day following the satisfaction or waiver of all conditions, with a maximum deadline of 180 days from the agreement date unless extended [3]. Next Steps - Both parties will work diligently to meet the closing conditions, and Lithium Chile will provide further disclosures as necessary [5]. Company Overview - Lithium Chile Inc. is an exploration company with a portfolio of 11 properties covering 106,136 hectares in Chile and 29,245 hectares in Argentina, including the Arizaro project [6]. - The company has advanced the Arizaro project with a completed NI 43-101 compliant Resource Report, Preliminary Economic Assessment, and Prefeasibility Study [6].

Core Viewpoint - LithiumBank Resources Corp. has entered into a Development Agreement with a Leading Energy Services and Technology Supplier to advance the Boardwalk lithium brine project in Alberta, targeting production by 2027 [1][2]. Development Agreement Details - The Development Agreement includes collaboration on the Boardwalk asset using licensed modular Direct Lithium Extraction technology, with plans for a feasibility study and engineering activities [1][2]. - The feasibility study aims to establish two initial DLE modules capable of producing up to 10,000 tonnes per annum of Lithium Carbonate Equivalent [1][2]. Financial Aspects - The Alberta government will provide funding through Emissions Reduction Alberta, refunding LithiumBank up to 50% of each milestone, totaling $3.9 million [3]. - The licensing terms for LESTS's technology will involve a gross overriding royalty from production proceeds, which is considered favorable for the Boardwalk project [4]. Resource Estimates - The Boardwalk project has an NI 43-101 resource estimate indicating 5.2 million tonnes of Indicated resources at 81.6 mg/L lithium and 2.8 million tonnes of Inferred resources at 79 mg/L lithium [5]. Key Milestones - Upcoming milestones include re-entering a suspended oil and gas well, conducting brine conversion testing, and completing the feasibility study [6].

Core Insights - Atlas Lithium Corporation is advancing towards production at its Neves Project in Brazil's Lithium Valley and has entered the final stage of contracting project management and construction supervision services [1][2] Project Management and Execution - The project management scope includes planning, coordination, monitoring, and control of all activities required for project execution, ensuring compliance with schedule, cost, scope, quality, safety, and overall performance objectives [2] - The selection process involved extensive due diligence on five firms with proven experience in similar projects, focusing on technical excellence, track record in Brazilian mining, project management methodology, and the qualifications of the proposed technical team [2] Timeline and Production Readiness - The contract award milestone is expected to occur early in 2026, allowing for the timely commencement of the implementation phase [3] - Atlas Lithium's lithium processing plant has already been delivered to Brazil and is ready for assembly and pre-operational testing, which supports a shortened production timeline [3] Strategic Importance - Securing a top-tier project management partner is viewed as a critical step in the company's disciplined approach to becoming a producer of lithium concentrate [4] - The interest from qualified firms indicates the attractiveness of the Neves Project, with key permits in place and a focus on cost discipline and schedule optimization [4]

Core Viewpoint - Argentina Lithium & Energy Corp. has entered into a Memorandum of Understanding with Xi'an Lanshen New Material Technology Co., Ltd. to advance its Rincon West Lithium Brine Project towards feasibility study completion and potential commercial production [1][2]. Group 1: Collaboration Details - The MOU outlines a joint effort to develop a 5,000 tonnes-per-year battery-grade lithium carbonate plant, with scalability to 15,000-20,000 tonnes annually [2]. - Lanshen will provide integrated DLE pilot platform, engineering packages, technical personnel, and equipment quotations necessary for feasibility-level engineering [2]. - The collaboration includes a progressive earn-in structure for Lanshen's contributions, which will qualify for equity participation in Argentina Lithium's subsidiary, Argentina Litio y Energia S.A. [2]. Group 2: Project Significance - This collaboration is a significant milestone following Argentina Lithium's recent NI 43-101 Mineral Resource Estimate at Rincon West, strategically located near Rio Tinto's operation in Salta Province [3]. - The partnership aims to reduce development timelines, improve process efficiency, and enhance the project's commercial pathway [3]. Group 3: Leadership Statements - The CEO of Argentina Lithium emphasized that this MOU represents a pivotal turning point, strengthening the technical foundation and strategic positioning of Rincon West [4]. - Lanshen's President expressed enthusiasm for the collaboration, highlighting the company's decade-long development of DLE technology for efficient lithium extraction [4]. Group 4: Company Background - Argentina Lithium is focused on acquiring high-quality lithium projects in Argentina to meet the growing global demand from the battery sector, with a strategic investment from Stellantis N.V. [9]. - The company has a history of success in the resource sector and has assembled some of the most prospective lithium properties in the Lithium Triangle [9]. Group 5: Lanshen Overview - Xi'an Lanshen New Material Technology Co., Ltd. is recognized for its innovations in Direct Lithium Extraction technologies and has a strong presence in multiple brine-producing districts in China [5][7]. - Lanshen provides fully integrated engineering solutions, including brine compatibility testing and project commissioning, supporting the advancement of environmentally responsible lithium-extraction technologies [6][7].

Core Viewpoint - 2025 has been a successful year for International Lithium Corp. (ILC), marked by a significant turnaround in the lithium market from June onwards, alongside strategic expansions into other critical minerals [2][3]. Company Developments - ILC completed the sale of its Avalonia property in Ireland, generating C$2.5 million, which was reinvested into the Namibian project and other initiatives [8]. - The company acquired an option to buy Lepidico's 100% interest in Lepidico Mauritius for C$975,000, which includes an 80% interest in the Karibib project in Namibia, known for its substantial rubidium and cesium resources [6][8]. - The flagship Raleigh Lake project in Ontario remains economically viable at current spodumene prices and also contains significant rubidium resources [5][10]. Market Insights - The lithium market experienced a challenging first half in 2025, with prices dropping to about 10% of 2023 highs, but saw a recovery in the second half, with spodumene prices rising over 100% and lithium carbonate prices increasing by approximately 65% from June lows [3][4]. - The rebound in lithium prices has been largely overlooked, yet it has outperformed precious metals, indicating a positive trend for the lithium sector [4]. Future Outlook - The positive developments in 2025 and the recovery in lithium prices suggest a strong potential for ILC in 2026, especially if the company exercises its option to acquire Lepidico Mauritius, which would significantly enhance its resource portfolio [9][10]. - The Karibib project could provide ILC with a world-class resource in rubidium and one of the largest cesium deposits not controlled by a Chinese company, positioning the company for substantial growth [9].

Company Developments - IGO Ltd (ASX:IGO) has commenced construction of its new lithium plant at Greenbushes, with a projected capacity of approximately 500,000 tonnes per year of spodumene concentrate [5] - Champion Iron (ASX:CIA) is pursuing the acquisition of Norwegian iron ore producer Rana Gruber for around US$289 million, marking an overseas expansion [5] - Monadelphous has been selected to assist Rio Tinto (ASX:RIO) in building a significant link at the Brockman Syncline iron development in Western Australia [6] - Eminence Minerals (ASX:EMA) has concluded its hearing with the Aboriginal Cultural Heritage Committee regarding two new Aboriginal sites near the Hamersley Iron Ore Project, with findings expected in early 2026 [6] Market Overview - Australian shares are up by 0.5% at the start of the last week of the year, influenced by the upcoming holiday breaks [1] - The major U.S. indices have shown positive performance, with the S&P gaining 0.9%, the Dow Jones advancing 0.4%, and the Nasdaq increasing by 1.4% due to AI-related gains [3] - European markets also experienced gains, with the Eurostoxx up by 0.4% and the FTSE adding 0.6% [3] Commodity Prices - The Australian dollar is trading at 66.1 U.S. cents [7] - Iron ore prices have decreased by approximately 0.4%, now at $104.50 per tonne in Singapore [7] - Brent crude remains stable at $60.47 per barrel [7] - Gold is priced at $4,350 per ounce [7] - U.S. natural gas futures have increased by 2%, reaching $3.98 per gigajoule [7]

Group 1 - Lithium Americas Corp. (NYSE:LAC) operates lithium deposits and processing facilities, with its main project located at Thacker Pass [2] - The stock has increased over 50% year-to-date but has decreased by over 56% from its 52-week high in October [2] - Jim Cramer has expressed a negative outlook on LAC, referring to it as a "yesteryear stock" and suggesting it is not a viable investment option [1] Group 2 - There is a belief that certain AI stocks present greater upside potential and carry less downside risk compared to LAC [3] - The article suggests that there are undervalued AI stocks that could benefit from current economic trends, including tariffs and onshoring [3]

Summary of Key Points from the Conference Call Industry Overview: Lithium - **Demand Revisions**: Significant upward revisions in lithium demand forecasts, particularly driven by energy storage systems (ESS) and commercial vehicles, with a projection of 3.5 million tonnes of lithium carbonate equivalent (LCE) by 2030, aligning with the upper end of consensus estimates [2][5][38] - **Supply Dynamics**: Despite increased supply forecasts from regions like China, Africa, and Australia, the projected deficits in the near term have widened, indicating a prolonged incentive price environment [2][5][44] - **Price Forecasts**: - Spodumene prices are expected to rise to $2,000 per tonne by Q4 2026, up from approximately $1,100 per tonne [2][5][12] - Lithium carbonate prices are forecasted to reach $18,000 per tonne, compared to a current spot price of around $13,500 per tonne [2][5][12] Key Insights on Demand - **ESS Growth**: ESS production forecast for 2026 has been raised by 17% to 900 GWh, with ESS expected to represent 32% of total LCE demand in 2026, increasing to 38% by 2030 [5][38] - **EV Battery Demand**: Global forecasts for battery demand in battery electric vehicles (BEVs) have increased by 4-22% for the period 2026-2030, driven by larger battery sizes in commercial vehicles [5][40][42] - **Commercial Vehicle Adoption**: High-density truck (HDT) EV battery installations have reached a four-year high of 28%, with expectations that commercial vehicles will account for 18% of total LCE EV demand by 2026, up from 13% [5][40] Supply Forecasts - **Supply Increases**: Supply forecasts for 2026 have increased by approximately 7%, with longer-term forecasts rising by 14-18% [5][44] - **Mine Restarts**: Notable restarts include Bald Hill and Ngungaju in Australia, with Greenbushes expected to maintain throughput at approximately 9 million tonnes per annum [5][48] - **Regional Contributions**: - Australia is projected to contribute significantly to supply increases, while Chile and Argentina have seen slight reductions in long-term volumes [5][48] Stock Recommendations - **Upgrades to Ratings**: All pure-play lithium stocks have been upgraded to "Overweight" (OW), with specific price targets set for: - IGO Ltd. at A$10.20, offering approximately 50% upside [6][10][19] - Pilbara Minerals Ltd. at A$4.80, offering around 24% upside [6][10][19] - Liontown Resources at A$1.85, with a 37% upside potential [6][10][19] Market Dynamics - **Deficit Projections**: The market is expected to experience a deficit of 4-7% of demand in the medium term, necessitating price increases to incentivize new supply [5][12][52] - **Stock Performance**: Lithium miners have seen a rally of over 25% since October, closely tracking spot spodumene prices [6][21] Additional Insights - **Long-term Price Stability**: The long-term spodumene price remains unchanged at $1,300 per tonne, indicating a cautious approach to forecasting in a fluid market [12][13] - **Global Vehicle Sales**: Projections for global vehicle sales indicate a steady increase, with battery electric vehicles expected to grow significantly in market share [49] This summary encapsulates the critical insights and projections from the conference call, focusing on the lithium industry, demand and supply dynamics, stock recommendations, and market trends.

Investment Rating - The report upgrades SQM to Overweight (OW) from Neutral (N) based on a positive outlook for lithium prices over the next two years [1][4]. Core Insights - The lithium industry is expected to return to a structural deficit of approximately 130kt/year over the next five years, primarily driven by a significant 17% upward revision in Energy Stationary Storage (ESS) demand, which is projected to account for 42% of global lithium consumption by 2030 [1][11]. - J.P. Morgan has raised its price forecasts for lithium carbonate and hydroxide for 2026 and 2027 by 43% and 66% to $17,500/t and $22,000/t respectively, indicating a potential price increase of 62% from the current spot price of $13,550/t [1][11]. - SQM's EBITDA for 2026 is forecasted at $3.3 billion, representing a 76% increase from previous estimates and 60% above consensus [1][11]. Summary by Sections Price Forecasts - The new price forecasts for lithium carbonate and hydroxide reflect a tighter market, with expectations of elevated prices due to the need for higher incentives to bring new supply online [1][11]. - The report anticipates SQM to trade at a multiple of 6.6x EV/EBITDA at the peak of the cycle, consistent with previous industry peaks [1][11]. Demand Drivers - ESS demand is expected to exceed previous forecasts, with a significant increase in battery shipments driven by policy support in China and strong order momentum in Europe [21][11]. - The report highlights that ESS will represent 34% of total lithium market demand in 2026, increasing to 42% by 2030 [21][11]. Supply Outlook - Despite higher supply projections from various regions, the supply-demand balance is expected to remain in a deeper deficit, with deficits projected at -138kt LCE in 2026 and -127kt LCE in 2027 [1][11]. - The report notes that SQM's growth is back on track, with expected volume increases and low costs, supported by favorable political developments in Chile [1][11]. Valuation - The December 2026 price target for SQM is raised to $79.00 from $41.00, derived from a DCF analysis and a target EV/EBITDA methodology [12][11]. - The valuation incorporates the terms of the joint venture agreement with the Chilean government, which allows SQM to retain a significant portion of free cash flow from operations [12][11].

The price of the metal has done particularly well, with lithium carbonate rising 25.73% year-to-date, as of November 30, 2025, according to Sprott Asset Management's Jacob White, CFA. Plenty of attention from advisors and investors has been focused on gold, silver, and copper as of late, but those aren't the only metals worth looking at. One metal that may be flying under the radar for many investors and advisors is lithium. Much like the price of Lithium itself, LITP has displayed an extremely strong track ...