Summary of Key Points from the Conference Call Industry Overview - **Industry**: Lithium Mining in China - **Context**: The report evaluates risks associated with mining licenses and the potential easing of supply surplus in the lithium market, although it is not considered a game changer [1][10]. Core Insights and Arguments 1. **Mining License Approvals**: Nine lithium production assets in China received notices regarding their mining/extraction license approvals, but production remains largely unaffected [1]. 2. **Incompleteness of Licenses**: The review indicates that up to 45% of total output could be affected by incompleteness in mining licenses, with specific issues including: - 7% of output related to lithium resources in brine extraction [2]. - 30% of output needing clarification on major minerals mined for lepidolite production [2]. - 21% of output requiring renewal in 2025 due to expiration [2]. 3. **Producer Feedback**: Producers report that additional approval processes are manageable, with expectations for provincial approvals by the end of September [3][8]. 4. **Production Estimates**: China is projected to produce 459 kt-LCE in 2025, accounting for 27% of global integrated lithium supply [10]. 5. **Global Market Surplus**: The global lithium market is expected to be in a 52% capacity surplus in 2025, with a reduction in cash costs for lepidolite production [11]. Potential Risks and Disruptions 1. **Production Suspension Risks**: In the worst-case scenario, production suspension due to incomplete licenses could affect 12% of global production, potentially halving to 7-8% when considering specific types of incompleteness [10]. 2. **Recent Production Suspensions**: The Zangge Qarhan Brine project has suspended operations due to missing lithium in its mining license, which could impact 3% of China's lithium output [18]. Additional Important Information - **Policy Focus**: The recent notices are part of a broader policy focus on supply discipline in the lithium mining sector [1]. - **Historical Context**: Previous cases of similar approvals have shown that supportive approaches by producers have not led to operational suspensions [8]. - **Investor Considerations**: Investors are advised to consider potential conflicts of interest in the report and to view it as one of many factors in their investment decisions [3]. This summary encapsulates the critical aspects of the conference call, focusing on the lithium mining industry in China, the implications of mining license approvals, and the broader market context.

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **lithium industry** in China, highlighting recent market dynamics and company performances related to lithium producers such as **Tianqi Lithium** and **Ganfeng Lithium** [3][7][60]. Core Insights and Arguments - **Recent Price Movements**: Lithium prices have rallied by **10-20%** since June 24, 2025, driven by speculation and news reports, despite small and short-term supply disruptions [3][6]. - **Current Lithium Prices**: The lithium price reached **Rmb70k**, nearing CATL's cost curve, indicating potential for increased supply and reduced maintenance needs [3][6]. - **Production Levels**: Weekly lithium output is approaching a record high of **19kt**, with inventory levels exceeding **140kt** [3][6]. - **Caution on Price Rally**: Analysts recommend selling on any price bounce, maintaining an **Underweight (UW)** rating on Tianqi-A/H and Ganfeng-A/H [3][6][60]. - **Regulatory Investigations**: Yichun authorities are investigating the license approval of **8 mines**, but production is not expected to be impacted significantly [3][6]. - **Zangge Mining Production Halt**: Zangge Mining halted production at a subsidiary due to non-compliance issues, affecting **11ktpa** of lithium capacity, but the overall impact on China's annual lithium production is estimated to be only **0.3%** [3][6]. Company-Specific Highlights - **Tianqi Lithium**: - Preannounced **1H25 earnings** of **Rmb0-155 million**, a significant improvement from a **Rmb5.2 billion loss** in 1H24. The recurring profit is expected to be between **Rmb0-89 million** [7][60]. - **Ganfeng Lithium**: - Preannounced a **1H25 net loss** of **Rmb550-300 million**, compared to a **Rmb760 million loss** in 1H24. The company reported a significant non-recurring gain from the disposal of energy storage projects [7][60]. Price Movements Summary - **Tianqi-A**: - Price increased from **Rmb33.4** to **Rmb34.3**, a **2.5%** change [8]. - **Ganfeng-A**: - Price increased from **Rmb34.6** to **Rmb35.0**, a **1.0%** change [8]. - **Lithium Carbonate**: - Spot price rose from **Rmb64,200** to **Rmb65,500**, a **2.0%** increase [8]. Additional Important Information - **Market Sentiment**: The report indicates a cautious sentiment in the market, with analysts advising against over-optimism regarding the recent price increases [3][6]. - **Future Expectations**: The expectation of increased lithium output and inventory levels suggests that the market may stabilize, but potential regulatory impacts could create volatility [3][6]. This summary encapsulates the key points from the conference call, providing insights into the lithium industry and specific company performances, while highlighting potential risks and market dynamics.

Core Viewpoint - Century Lithium Corp. has successfully collaborated with Alpha-En Corporation to convert its lithium carbonate into battery-grade lithium-metal anodes, showcasing the quality of its lithium material and technical capabilities [1][2][3] Company Overview - Century Lithium Corp. is focused on developing its Angel Island project in Esmeralda County, Nevada, which contains one of the largest sedimentary lithium deposits in the U.S. [5][6] - The company utilizes a patent-pending process for chloride leaching and direct lithium extraction to produce battery-grade lithium carbonate [5] Collaboration with Alpha-En Corporation - Alpha-En Corporation has successfully converted a sample of 99.8% pure lithium carbonate from Century Lithium into lithium metal using a patented room-temperature conversion process [2][3] - The lithium metal produced from Century Lithium's material demonstrated high purity and consistency, leading to high-quality lithium-metal anodes [3] Technical Development and Future Outlook - Century Lithium is advancing the Angel Island project through ongoing permitting, engineering, and technical development at its Demonstration Plant [3][6] - The project is expected to yield an estimated life-of-mine average of 34,000 tonnes per year of lithium carbonate over a 40-year mine life [6] - The company maintains a positive long-term outlook on lithium-based batteries, anticipating their critical role in the growth of the electric vehicle and stationary energy storage markets [3]

Report Overview - Report Title: "Carbonate Lithium: Pay Attention to Lithium Mine Industry Policies, Bullish Operation" - Date: July 21, 2025 Industry Investment Rating - The report gives a trend strength of 1 for carbonate lithium, indicating a "bullish" outlook. The trend strength ranges from -2 (most bearish) to 2 (most bullish) [3]. Core View - The report suggests that carbonate lithium is expected to operate bullishly, and investors should pay attention to policies in the lithium mine industry [1]. Content Summary by Section Fundamental Tracking - **Futures Market Data**: The closing prices of the 2509 and 2511 contracts are 69,960 and 68,620 respectively. The trading volumes are 1,206,323 and 119,615, and the open interests are 377,305 and 109,321 [1]. - **Warehouse Receipts**: The warehouse receipt volume is 10,239 hands, showing a decreasing trend compared to previous periods [1]. - **Basis Data**: The basis between spot and 2509 contract is -3,310, and between spot and 2511 contract is -1,970. The basis between 2509 and 2511 contracts is 1,340 [1]. - **Raw Material Prices**: The prices of lithium spodumene concentrate (6%, CIF China) and lithium mica (2.0%-2.5%) are 711 and 1,505 respectively, showing an upward trend [1]. - **Lithium Salt Prices**: The prices of battery-grade carbonate lithium and industrial-grade carbonate lithium are 66,650 and 65,050 respectively, both increasing compared to the previous day [1]. Macro and Industry News - **Price Changes**: The SMM battery-grade carbonate lithium index price is 66,468 yuan/ton, up 1,628 yuan/ton from the previous day. The average price of battery-grade carbonate lithium is 66,650 yuan/ton, up 1,700 yuan/ton, and the average price of industrial-grade carbonate lithium is 65,050 yuan/ton, also up 1,700 yuan/ton [2]. - **Policy News**: The Ministry of Industry and Information Technology, the National Development and Reform Commission, and the State Administration for Market Regulation jointly held a symposium on the new energy vehicle industry to standardize the competition order. The State Council Executive Meeting proposed three major measures to strengthen cost investigation, price monitoring, and product production consistency supervision [3]. - **Project News**: Zimbabwe's state-owned mining company Kuvimba Mining House plans to start construction of a concentrator with an annual processing capacity of 600,000 tons of lithium concentrate at its Sandawana mine in the third quarter of this year, with a total investment of $270 million, and it is expected to be put into operation in early 2027 [3].

Report Industry Investment Rating - The report does not provide an industry investment rating [1] Core Viewpoint - The supply side of lithium carbonate is experiencing renewed disruptions, and its short - term trend may be strong [1] Summary by Relevant Catalogs Fundamental Tracking - **Futures Data**: For the 2509 contract, the closing price was 67,960 yuan, with changes of 1,540 yuan compared to T - 1, 3,780 yuan compared to T - 5, etc. The trading volume was 826,939 lots, and the open interest was 363,676 lots. For the 2511 contract, the closing price was 67,180 yuan, the trading volume was 93,462 lots, and the open interest was 105,305 lots. The warehouse receipt volume was 10,239 lots, showing a decrease compared to previous periods [1] - **Basis Data**: The basis of spot - 2509 was - 3,010 yuan, spot - 2511 was - 2,230 yuan, 2509 - 2511 was 780 yuan, etc. The difference between electric carbon and industrial carbon was 1,600 yuan, and the difference between spot and CIF was 5,503 yuan [1] - **Raw Material Data**: The price of lithium spodumene concentrate (6%, CIF China) was 693 dollars, lithium mica (2.0% - 2.5%) was 1,465 yuan, etc. [1] - **Lithium Salt and Related Product Data**: The price of battery - grade lithium carbonate was 64,950 yuan, industrial - grade lithium carbonate was 63,350 yuan, battery - grade lithium hydroxide (micropowder) was 62,570 yuan, etc. [1] Macro and Industry News - SMM's battery - grade lithium carbonate index price was 64,779 yuan/ton, up 90 yuan/ton from the previous workday. The average price of battery - grade lithium carbonate was 64,950 yuan/ton, up 50 yuan/ton, and that of industrial - grade lithium carbonate was 63,350 yuan/ton, up 50 yuan/ton [2] - On July 17, 2025, Zangge Mining's subsidiary received a notice to stop lithium resource development. Zangge Lithium Industry has stopped production and is handling the mining procedures. In 2025, it planned to produce and sell 11,000 tons of lithium carbonate. In the first half of the year, it was expected to produce 5,350 tons, sell 4,470 tons, and achieve a net profit of 49 million yuan, which has a small impact on the company's performance, and the resumption time is uncertain [3] - This week, the lithium carbonate production was 19,115 tons, an increase of 302 tons from last week, and the industry inventory was 142,620 tons, an increase of 1,827 tons from last week [3] Trend Intensity - The trend intensity of lithium carbonate is 1, indicating a relatively strong trend [3]

 CALGARY, ALBERTA, July 17, 2025 – TheNewswire - Lithium Chile Inc. (“Lithium Chile” or the “Company”), is pleased to announce that several directors and officers have exercised stock options previously granted under the Company’s stock-based compensation plan.A total of 475,000 options were exercised at a price of $0.51 per share, generating $245,250 in proceeds to the Company. This insider participation reflects strong confidence in Lithium Chile’s strategy and the ongoing progress toward closing a trans ...

Core Viewpoint - LithiumBank Resources Corp. has been awarded CAD $3.9 million in non-dilutive funding from Emissions Reduction Alberta to advance the Boardwalk Lithium Brine Project, which is expected to enhance lithium production capabilities in Alberta [1][2]. Funding and Project Development - The funding will reimburse 50% of eligible expenditures for each completed milestone, up to a total of CAD $3.9 million [1]. - The company aims to complete specific tasks by the end of 2026, which include drilling, DLE testing, and a feasibility study [3][6]. Strategic Positioning - Alberta is recognized for its favorable geology and lithium resources, positioning the Boardwalk project as a leading lithium initiative in Canada with significant scaling potential [2]. - LithiumBank has consolidated strategic Brine Hosted Mineral Licenses, making it the largest holder of lithium brine resources in North America [4]. Project Milestones - Key milestones include: 1. Completing an additional drill hole through the Leduc formation to support an advanced reservoir model and future production [6]. 2. Conducting longer cycle DLE testing and optimization for lithium carbonate conversion [6]. 3. Completing a feasibility study assessing a low Capex, modular approach to lithium production [6]. Company Overview - LithiumBank Resources Corp. focuses on developing its two flagship projects, Boardwalk and Park Place, which host some of the largest lithium brine resources in North America [14]. - The company holds 1,237,487 acres of brown-field brine hosted mineral licenses across Alberta and Saskatchewan [14].

Group 1 - Eureka Lithium Corp. has announced that the warrants issued in connection with its recent private placement offering cannot be exercised until shareholder approval is obtained [1] - The company is the largest lithium-focused landowner in the Nunavik region of Quebec, with 100% ownership of three projects covering 1,408 square kilometers [2] - The claims were acquired from notable prospector Shawn Ryan and are situated near two operating nickel mines with deep-sea port access [2]

Core Insights - One World Lithium Inc. has received two lithium brine samples from a major mining company for testing its novel lithium recovery technology [1][4] - The company aims to validate and expand its Direct Lithium Carbonation Extraction Technology (DLCE) to produce lithium carbonate from brine without the need for pre-concentration or post-concentration steps [2][3] - The company has secured funding through a loan agreement to support the research and development of its lithium extraction process [6][8] Funding and Development - The company has entered into an Umbrella Technology Agreement with a major mining company to fund the testing of the lithium brine samples [4] - The phase two program will involve expanding lab facilities, purchasing additional equipment, and hiring more lab workers to construct a pilot plant for further testing [5] - A first tranche of loan financing totaling $107.2 million has been secured, with an interest rate of 8% per annum and a term of twelve months [6][7] Technology and Process - The DLCE technology allows for cleaner lithium extraction with lower capital and operating costs, eliminating the need for sorbents, acids, and soda ash [3] - The ongoing lab work aims to explore the production of additional elements such as sodium, calcium, and magnesium from the brine [2] - The company remains focused on properties that may contain lithium and the commercial application of its extraction technology [8]

Core Insights - Smackover Lithium, a joint venture between Standard Lithium and Equinor, has reported the highest lithium concentration to date from its South West Arkansas Project, with a measurement of 616 mg/L lithium in brine [1][4]. Company Developments - The Lester well, completed in Q2 2025, marks the conclusion of all sub-surface exploration activities for Phase 1 of the SWA Project [2]. - The average lithium concentration from three brine samples taken from the Lester well was 582 mg/L, indicating significantly higher than expected lithium concentrations [3][7]. - Dr. Andy Robinson, President and COO of Standard Lithium, expressed optimism regarding the results, which exceeded initial expectations of approximately 500 mg/L [4]. Future Plans - With fieldwork completed, the Smackover Lithium team is focused on finalizing the Front-End Engineering Design (FEED) study, with a Definitive Feasibility Study anticipated later in Q3 2025 [5]. - The completion of these studies is seen as a significant milestone, paving the way for off-take negotiations and project financing, with a Final Investment Decision targeted by the end of 2025 [5]. Joint Venture Overview - Smackover Lithium is a joint venture formed in May 2024, with Standard Lithium holding a 55% interest and Equinor holding 45% [11]. - The joint venture is developing two Direct Lithium Extraction (DLE) Project Companies in southwest Arkansas and east Texas [11]. Company Background - Standard Lithium is focused on sustainable development of high-grade lithium-brine properties in the U.S., particularly in the Smackover Formation [12][13]. - The company aims to achieve commercial-scale lithium production through a scalable Direct Lithium Extraction and purification process [13].