Chile, Thailand endorsement propels Pan Asia

Pan Asia Metals (ASX:PAM) continues to receive positive endorsement for lithium exploration out of Thailand and Chile as it awaits finalising a larger capital raising. 

Managing Director Paul Lock says: “It’s a tough decision to elect voluntary suspension while we process discussions with strategic partners and investors, and we understand that there may be some frustration, but we have received a lot of positive support for this decision and for PAM’s business strategy. 

In Thailand and Chile there has been positive endorsement for lithium exploration as both countries want to secure their supply chain and position in the global lithium market respectively. We believe this will flow through to positive outcomes for PAM.”

The battery and critical minerals explorer and developer has today (28 March 2024) raised some interim funding in the form of a convertible note.

The convertible notes have a conversion price of $0.15 per share, representing a 6% discount from the last close price of $0.16. 

Pan Asia Metals is a battery materials-focused company with lithium projects in Southeast Asia and South America, alongside agreements with key battery and chemical producers in the Asa region to produce advanced battery chemicals.

Write to Aaliyah Rogan at Mining.com.au   

Images: Pan Asia Metals
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Pan Asia continues halt amid raise

Pan Asia Metals (ASX:PAM) has requested to continue a voluntary suspension on the Australian Securities Exchange (ASX) until 4 April 2024. 

As Mining.com.au previously reported, the company entered into a trading halt on 30 January 2024, pending the release of an announcement relating to a proposed equity raise. 

Pan Asia is continuing discussions with strategic investors regarding the placement participation and the company intends to remain in voluntary suspension until such time the placement concludes. 

The company is strategically placed in the heart of Southeast Asia and is advancing its battery metals-focused projects, namely Reung Kiet (RK), Tama Atacama, and KT Lithium. 

According to Pan Asia, the RK project is the only lithium project in South and Southeast Asia with a JORC mineral resource and underground feasibility studies. 

Tama Atacama is a lithium-brine project that covers a 1,600km-square area that lies in the Atacama desert in Northern Chile. 

The KT project is a lithium and lepidolite pegmatite project that sits in the Phang Nga Province in Southern Thailand, encompassing a 45km-square area. 

Pan Asia Metals Limited is the only publicly traded battery materials company with lithium projects in Southeast Asia and South America, and with agreements with key battery and chemical producers in
the Asian region to produce advanced battery chemicals.

Its Asian assets are strategically located in Thailand – the largest vehicle producer in the region. With Asia accounting for more than half of the global annual vehicle production, Pan Asia is positioned to capitalise on the soaring demand for battery minerals in the region.

Pan Asia’s South American assets are strategically located in the Atacama region of Chile, it is one of South America’s largest and most strategically positioned lithium brine projects, situated at an altitude of 800-1100m with all necessary transport and energy infrastructure and only 75km from Iquique, a well-equipped coastal city with a population of 200,000, a deep water bulk and container port, and regular flights to Santiago.

Write to Aaliyah Rogan at Mining.com.au   

Images: Pan Asia Metals
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Pan Asia continues suspension amid placement progression

Pan Asia Metals (ASX:PAM) is expecting to continue a voluntary suspension until 21 March 2024 pending the release of an announcement in regard to a proposed equity raise. 

The company entered into a trading halt on 30 January 2024 and then released an announcement regarding a suspension from quotation on 1 February. 

Pan Asia notes the company remains in discussions with strategic investors regarding the participation in the placement. 

The company is advancing lithium assets in both South America and Asia including the Tama Atacama Lithium Project, which covers a 1,200km-square area and sits in the Atacama desert in Northern Chile. 

The Reung Kiet Lithium Project is considered to be a lepidolite-style lithium project that sits about 70km northeast of Phuket, Thailand. 

Pan Asia’s KT Lithium Project is a compilation of 5 special prospecting licence applications that lie in the Phang Nga province in Southern Thailand, covering a 45km-square area. 

Pan Asia Metals is a battery metals-focused explorer that is advancing lithium projects in South-East Asia and South America. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Pan Asia Metals
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Pan Asia adds further Tama Atacama concessions

Pan Asia Metals (ASX:PAM) has added a fourth series of exploration concessions for its Tama Atacama Lithium Project in Chile, growing the total area to 996km-square. 

The company says the latest concessions cover an additional 116km-square mainly at the Pink Lithium prospect, which forms part of Tama Atacama, and fall within option agreements one and two. 

The concessions also add a total of 32km-square to the Ramatidas Lithium prospect, which is south of Pink. They are part of the 400km-square target lithium brine and clay blocks comprising the southern half of Ramatidas and Powerline blocks. 

As reported by Mining.com.au, both the Ramatidas and Powerline blocks remain under a memorandum of understanding (MoU) and are under review and consideration. If progressed, the blocks will form part of Tama Atacama. 

The total area under option agreements with granted exploration concessions has increased to 746km-square, while the total area under MoU with granted exploration concessions is 250km-square.  

Pan Asia is continuing discussions with geophysics and drilling service providers and plans to begin drilling on granted licence areas at the Pink Project early in 2024. 

Drilling is being designed to identify lithium-bearing aquifers at depth and, once identified, further detailed drilling will begin in anticipation of an initial resource later in 2024. 

On 8 February 2024 the company announced it will continue its voluntary suspension of trading on the Australian Securities Exchange (ASX) due to ongoing discussions with a strategic investor regarding their participation in a capital raising to fund operations in Chile and Thailand.

Pan Asia expects the voluntary suspension will continue until 15 February.

Pan Asia Metals is a battery minerals company with lithium projects in Southeast Asia and South America, as well as agreements with key battery and chemical producers in the Asia region to produce advanced battery chemicals. 

The company’s Tama Atacama project sits in the Atacama region of Chile about 40km from the coast and 75km from the township of Iquique.

Write to Adam Drought at Mining.com.au

Images: Pan Asia Metals
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Pan Asia secures further Tama Atacama concessions 

Pan Asia Metals (ASX:PAM) has secured a third series of exploration concessions totalling 244km-square for its Tama Atacama Lithium Project in Chile. 

The concessions have been granted at the Dolores North, Pozon, and Ramatidas lithium prospects, which sit to the north and south of the Pink lithium prospect, as part of Tama Atacama. 

Pan Asia reports the concessions fall within option agreements one and two and bring the total area under granted exploration concessions to 630km-square. 

A further 23km-square of concessions have been granted at the Ramatidas lithium prospect and are part of the 400km-square target lithium brine and clay blocks. 

The blocks comprise the southern half of Ramatidas and the Powerline blocks, which remain under a memorandum of understanding (MoU). 

The Ramatidas and Powerline blocks are currently under review and consideration and, if progressed, will form part of Tama Atacama. 

Meanwhile, discussions with geophysics and drilling service providers are ongoing with plans to begin drilling on granted licence areas at the Pink prospect early this year, as reported by Mining.com.au.

Drilling is being designed to identify lithium-bearing aquifers at depth and, once identified, Pan Asia will undertake detailed drilling in anticipation of defining an initial resource later in 2024.

Pan Asia Metals is a battery minerals company with lithium projects in Southeast Asia and South America, as well as agreements with key battery and chemical producers in the Asia region to produce advanced battery chemicals. 

The company’s Tama Atacama project sits in the Atacama region of Chile about 40km from the coast and 75km from the township of Iquique.

Write to Adam Drought at Mining.com.au

Images: Pan Asia Metals
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Pan Asia halts trade ahead of planned cap raise

Pan Asia Metals (ASX:PAM) has called a trading halt as it actively looks to raise fresh funds to support its operations in Chile and Thailand. 

GBR Capital is acting as lead manager to the capital raise.

While the company has not specified exactly how much it plans to raise, Managing Director Paul Lock tells Mining.com.au the funds will likely come by way of a share placement, with new shares to be potentially priced at around $0.15. 

Further, Lock says Pan Asia’s board, management team, and associated parties have agreed to contribute around $465,000 as part of the upcoming planned capital raise. 

This means when including his potential support for this upcoming raise, Lock as Managing Director will have contributed around $750,000 in financial support for the company over the last 6 months. 

Should the company raise the funds, a portion of the equity will likely go towards advancing Pan Asia’s Reung Kiet (RK) Lithium Project in Thailand as the company works to develop a mineral resource for the area. 

Lock tells this news service that RK is the only lithium project under feasibility studies in Southeast Asia, and Pan Asia has struck a memorandum of understanding (MoU) with a Thailand-listed chemical producer to mine and produce lithium concentrate, as well as process and produce lithium chemicals, from the asset. 

Meanwhile, Pan Asia could also put some of the fresh funds towards its major Tama Atacama Lithium Project in Chile. With a string of exploration concessions granted over the Chilean project in January, the company is now preparing to launch its planned exploration work for the area. 

On 12 January 2024, Pan Asia secured exploration concessions over an area of roughly 211km-square at the Pink lithium prospect within the Tama Atacama region. This was followed by another 100km-square of concessions at the Dolores North and Dolores South prospects, north of Pink, on 29 January.

In tandem with this, Pan Asia was granted a new total of 205km-square of exploration concessions at the Powerline prospect, south of Pink.

Meanwhile, the company says that given recent regulatory and policy changes in Chile and the ‘judicial’ process of granting exploration concessions in the country, it expects to receive further concessions over February, March, and April.

As it awaits these new concessions, Pan Asia is in talks with geophysics and drilling service providers to launch drilling work on the granted licence areas at the Pink area within Tama Atacama over the coming months.

This drilling work will initially aim to identify lithium aquifers at depth but will have the overall goal of helping Pan Asia define an initial mineral resource for the project later in 2024.

Finally, Pan Asia may put a portion of the capital raise funds towards its initiatives in Vietnam, where it is currently in talks with original equipment manufacturers (OEMs), and for general working capital. 

Pan Asia Metals is set to resume trading on the ASX on 1 February or as soon as it publishes the details of the capital raise on the ASX.

Write to Joshua Smith at Mining.com.au

Images: Pan Asia Metals
Author Image
Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.

Pan Asia secures second Tama Atacama exploration licences

Pan Asia Metals (ASX:PAM) has secured a second series of exploration concessions at the Dolores North and South lithium prospects, which are north of the Pink Lithium prospect and part of the Tama Atacama Lithium Project in Chile. 

The $25.17 million market capitalisation company says the concessions cover an additional 100km-square and fall within option agreement one, bringing the total area under granted exploration concessions to 386km-square.

The recently granted concessions follow the approval of a first set of exploration concessions at Tama Atacama, as reported by Mining.com.au earlier this month.

Meanwhile, a further net total of 205km-square of exploration concessions have been granted at the Powerline Lithium prospect, which is south of the Pink prospect. 

Pan Asia states the Powerline concessions are part of the 400km-square target lithium brine and clay blocks comprising the southern half of Ramatidas and the Powerline blocks, which remain under a memorandum of understanding and under review. 

The recently granted concessions will expire in 2027 and 2028 following modifications to the Chilean Mining Code.  

The company notes it is in discussions with geophysics and drilling service providers to begin drilling on the granted licence areas at Pink early this year in hopes of identifying lithium-bearing aquifers at depth. 

Additional drilling will be undertaken upon identification in anticipation of defining an initial resource later in 2024. 

Pan Asia Metals is a battery and critical metals explorer and developer with lithium projects in Southeast Asia and South America. 

The company’s Tama Atacama Project is one of South America’s largest and most strategically positioned lithium brine projects.

Write to Adam Drought at Mining.com.au

Images: Pan Asia Metals
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Pan Asia Metals: ‘Identify and execute on low-cost assets’

Pan Asia Metals (ASX:PAM) is ‘making rapid progress in Chile’ as it looks to begin preliminary discussions with the Chilean government in February regarding its Tama Atacama Lithium Brine Project. Chairman and Managing Director Paul Lock says the discussions will lay a pathway towards future production. Talks have been planned after the company entered into binding option agreements to purchase 100% of the 1,200km-square Tama Atacama Project. Pan Asia is also advancing its assets in Thailand, which are advancing in line with previous announced targets during 2024, the Year of the Dragon.

Pan Asia seeks to identify lithium-bearing aquifers at Pink

Pan Asia Metals (ASX:PAM) is maintaining discussions with geophysics and drilling service providers in hopes of starting drilling on the Pink lithium prospect, as part of its Tama Atacama Lithium Project in Chile. 

The $27.68 million market capitalisation company says drilling will aim to identify lithium-bearing aquifers at depth. Upon identification, Pan Asia will undertake detailed drilling in anticipation of defining an initial resource later in 2024. 

Pan Asia reports drilling is being planned after announcing today (12 January 2024) it has received the first series of exploration concessions at Tama Atacama. 

The company notes the concessions cover a total area of 211km-square and bring the total area under granted exploration concessions to 286km-square. 

Pan Asia says this is the first of a series of exploration concession grants, with a further 138km-square of concessions expected to be granted later in January and 240km-square in the first half of February. The remainder of concessions are expected to be received in April. 

The concessions come after the company announced yesterday it is looking to define a Mineral Resource Estimate (MRE) at the BT Prospect in Thailand for March or April this year. 

As reported by Mining.com.au, Pan Asia is hoping to define the MRE on the back of ongoing drilling at the prospect after receiving results from another 10 drillholes, which demonstrate multiple ‘high-grade’ lithium and tin intersections. 

Pan Asia Metals is the only publicly listed battery materials company with lithium projects in Southeast Asia and South America.

The company’s assets sit in Thailand — the largest vehicle producer in Southeast Asia — and in the Atacama region of Chile.

Write to Adam Drought at Mining.com.au

Images: Pan Asia Metals
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Pan Asia to define BT prospect MRE

Pan Asia Metals (ASX:PAM) is looking to define a Mineral Resource Estimate (MRE) for its BT lithium prospect, as part of its RK Lithium Project in Thailand, for March or April this year. 

The $27.68 million market capitalisation company says it is looking to deliver the MRE on the back of ongoing drilling at the prospect. 

Pan Asia reports today (11 January) it has received results for holes BTDD026 to 036 which the company says demonstrate multiple ‘high-grade’ lithium and tin intersections. 

The company notes results confirm the presence of a greater than 1km long and up to 300m wide pegmatite dyke and vein swarm, as well as extensions of a new lithium pegmatite zone to the west and south of the main zone. 

According to Pan Asia results also support the geological model and exploration target at the prospect and indicate mineralisation remains open in multiple directions.

Managing Director Paul Lock says further work needs to be completed on the western and southern extensions of the main zone ahead of the inaugural MRE, which he believes will complement the company’s Reung Kiet prospect well. 

“We have a main pegmatite zone which is rich in lithium and a smaller zone which is rich in tin, with an overlapping lithium-tin zone to the south of the old tin pit. 

Further work needs to be completed on the western and southern extensions to this main pegmatite zone and then we should be in a position to deliver an inaugural Mineral Resource Estimate. 

Overall our progress is good and the BT Lithium Prospect will complement the RK Lithium Prospect well

Overall our progress is good and the BT Lithium Prospect will complement the RK Lithium Prospect well.”   

Assays for drillholes BTDD037 to 041 are currently outstanding. 

Meanwhile, the company also notes strategic partner discussions are progressing ‘very well’. Pan Asia is currently in discussions with its Memorandum of Understanding (MoU) partner IRPC and one of China’s largest lepidolite mining and processing companies. 

Pan Asia Metals represents the only publicly listed battery materials company with lithium projects in Southeast Asia and South America. 

The company’s assets sit in Thailand — the largest vehicle producer on the continent — and in the Atacama region of Chile.

Write to Adam Drought at Mining.com.au

Images: Pan Asia Metals 
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Pan Asia poised for Chilean government talks

Pan Asia Metals (ASX:PAM) is ‘making rapid progress in Chile’ as it looks to begin preliminary discussions with the Chilean government in February regarding its Tama Atacama Lithium Brine Project.   

Speaking to Mining.com.au, Chairman and Managing Director Paul Lock says the discussions will lay a pathway towards future production. 

“Although it is early days it is important to get the dialogue going.”

Talks have been planned after the company entered into binding option agreements to purchase 100% of the 1,200km-square Tama Atacama Project, as reported.

The $29.36 million market capitalisation company says the discussions come at a time in which Thailand’s Ministry of Industry works to speed up mining licence approvals in line with its policy to develop a comprehensive electric vehicle (EV) supply chain. 

Discussions with both geophysical service providers and drilling contractors have also begun with initial indications that equipment will be available between late January and early March. 

Meanwhile, Pan Asia notes drilling is ongoing at its Reung Kiet Lithium Project in Thailand with results expected later this week. 

Drilling is continuing in line with discussions with one of Thailand’s largest cement manufacturers on the use of concentrate and lithium carbonate equivalent (LCE) processing residues in cement manufacturing.

Pan Asia also notes discussions are scheduled to take place in late January with a leading low cost Chinese lepidolite processor on processing technology.

Lock says the company is making rapid progress at both projects but states Tama Atacama will position the company for longer term and larger volume LCE production at a very low cost.  

“PAM is making rapid progress in Chile now that binding option agreements have been executed, as well as good progress in Thailand. In Chile we have started negotiations with service providers and we expect to begin drilling in late February or early March. 

PAM is also collaborating with one of Thailand’s largest cement producers on use of concentrate and LCE processing residues in cement manufacturing, testwork is underway. 

Tama Atacama is one of the most strategically positioned lithium brine projects in South America and the surface lithium assay grades are some of the highest in the global lithium brine peer group. Like the RK Lithium Project, we are aiming for strategic positioning and low cost production. 

Tama Atacama is attracting interest and given that Chile has a Free Trade Agreement with the US, it is IRA compliant, hence we are seeing interest from both Asian and North American EV and LIB OEMs.“

Pan Asia Metals represents the only publicly listed battery materials company with lithium projects in Southeast Asia and South America. 

The company’s assets sit in Thailand — the largest vehicle producer on the continent — and in the Atacama region of Chile.

Write to Adam Drought at Mining.com.au

Images: Pan Asia Metals
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Pan Asia inks option deals for Tama Atacama, Chile

It’s been a stellar start to the year for Pan Asia Metals (ASX:PAM) after the battery metals explorer signed new binding option agreements to acquire 1,200km-square of lithium tenure in Chile.

The $20.87 million market capitalisation company has converted some memorandums of understanding (MoUs) into option agreements covering the Dolores North, Dolores South, Pozon, and Pink projects — which together form the Tama Atacama Lithium Brine Project — and the northern half of the nearby Ramatidas Project. 

Shares in Pan Asia have spiked 12% to $0.14 as of 11:30 am AEDT on 2 January, and the company says it’s already in talks with potential strategic partners for the area as it plans geophysics and drilling work for early 2024. 

Pan Asia described the new projects as Tier One assets in the ‘truest sense of the term’, and Managing Director Paul Lock says Tama Atacama has the potential to become one of the largest lithium brine projects on the planet. 

“Surface assays for lithium are extremely high, and the project has enviable strategic positioning, with all infrastructure requirements satisfied. Waste and water balance solutions are available should straight evaporation or a direct lithium extraction (DLE)-evaporation hybrid lithium extraction model be adopted. 

The project is situated at a comfortable altitude, is close to a large labour pool and will attract specific brine skillsets from elsewhere in South America.”

“Surface assays for lithium are extremely high, and the project has enviable strategic positioning, with all infrastructure requirements satisfied”

Lock adds that progressive changes in the Chilean lithium sector further underpin its advantages in the region, with a recent MOU between New York-listed Sociedad Quimica y Minr de Chile (NYSE:SQM) and Chilean state copper miner Codelco quelling speculation around nationalisation in the country. 

It follows a string of acquisitions in Chile by multinational mining and chemical companies, including France-based Eramet SA, and moves by Australian and Chinese processors to build lithium conversion plants in Chile.

As for Pan Asia, the new option agreements are lined up as follows: 

Pan Asia can earn a 100% interest in the Dolores North and South project over 3 years — plus an additional year by mutual agreement with vendor Rajo Partnership — by making a US$100,000 option payment by December 2024, a US$100,000 option payment by December 2025, and a US$2 million option payment by December 2026. 

The terms of the option agreement for the Pozon, Pink, and the northern portion of the Ramatidas projects are identical and have also been signed with Rajo Partnership. 

Meanwhile, Pan Asia has signed an option agreement with Thomas Eggers over 25 exploration concessions covering roughly 75km-square in Salars Bellavista and Pintados, adjacent to the Pink Project, for US$2.76 million. 

Under this arrangement, Pan Asia will make ramping payments totalling US$966,000 from January 2024 through to January 2028, until it makes a final US$1.8 million option payment of US$1.8 million pending a Special Lithium Operations Contract (CEOL). 

This Thomas Eggers deal also comes with a 2% net smelter return royalty, of which Pan Asia can buy back 1% for US$600,000 and the remaining 1% based on a specific price formula.

Pan Asia plans to kick off its planned drilling work at the Pink Project in early 2024 to identify lithium-bearing aquifers at depth. The company will then look to conduct further drilling ahead of an initial resource estimate later in the year.

Write to Joshua Smith at Mining.com.au

Images: Pan Asia Metals and Pexels
Author Image
Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.

Looking ahead: lithium losing lustre or is a lift looming?

The price of lithium has plummeted in 2023.

At US$13,659 per tonne, the price of lithium carbonate has of 20 December 2023, plummeted more than 81.23% since the start of the year, as growing supply from all major producers outpaced the rise in demand from battery users and the EV market, as per Trading Economics. 

Data from S&P Global Commodity Insights also corroborates lithium’s decline, demonstrating a reduction in lithium spodumene prices by 76% from the recorded high in November 2022. Further, lithium hydroxide and carbonate assessed prices in China have both fallen 74% over the same period.

The crash in prices has been attributed to downward pressure caused by oversupplied markets in Asia, primarily fuelled by the global adoption rate of electric vehicles (EVs) slowing amid high interest rates. 

Analysts from Goldman Sachs predict investors can expect the global lithium market to be in a 202,000 tonne surplus in 2024. In turn, Goldman Sachs forecasts further downward pressure in 2024 due to oversupply. 

On the contrary, American financial services firm Morningstar forecasts lithium prices will stabilise in the first half of 2024 before averaging at US$30,000 per tonne as a result of inventory destocking and new supply delays catching up to current prices. 

Morningstar, however, views the volatility as creating ‘strong’ opportunities for investors. Being a critical component of the ‘green’ revolution, lithium has a range of uses in both chemical and technical applications. 

Lithium comes in various forms, such as lithium carbonate, lithium hydroxide, and lithium chloride, and is used in lubricant greases, pharmaceuticals, catalysts, air treatment, and, most commonly in batteries — both non-rechargeable and rechargeable. 

According to the United States Geological Survey (USGS), roughly 74% of the lithium produced is funnelled towards the manufacturing of batteries, while the outstanding 26% is put towards ceramics and glass, lubricating greases, continuous casting mould flux powders, and a plethora of other uses. 

To fund these industries and pursue their dreams of establishing their own respective lithium streams, a wave of ASX-listed explorers and developers this year flocked to foreign jurisdictions in search of the vital commodity.  

One such company that had success in the lithium foray was Pan Asia Metals (ASX:PAM), which signed a string of memorandums of understanding (MoU) to break into the ‘world-class’ Atacama region in Chile, as reported in July.   

Another was Torque Metals (ASX:TOR) which in September signed an option agreement to acquire the sole interest in both the New Dawn Lithium and Penzance Nickel projects, a package of 14 tenements covering 200km-square in Western Australia’s Goldfields region.    

Together, these projects, including the company’s pre-existing Paris Gold Project, form what is now known as the Penzance Exploration Camp. 

Astute Metals (ASX:ASE) is another ASX-listed company which saw success in the lithium field after the company expanded its lithium footprint in Nevada, US, with the addition of the Red Mountain Project to its portfolio, as reported in September.

Since then, the company has begun planning an initial scout drilling program at Red Mountain to test lithium in soil anomalism in a number of strategic locations. Drilling is scheduled for the end of Q1 2024.

Images: Pan Asia & Torque
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Pan Asia Metals eyes Thai operational footprint reduction 

Pan Asia Metals (ASX:PAM) is completing testwork on lithium concentrate processing residues as it formulates preliminary mine designs, mine planning, and production scheduling for its Reung Kiet Lithium Project in Thailand. 

The $21.71 million market capitalisation company says the works will assist with project design and the preparation of a mining lease application, as well as with inputs into a Prefeasibility Study (PFS). 

Pan Asia is testing the lithium concentrate processing residues’ application as supplementary cementitious materials (SCMs) to convert a waste stream into a by-product, helping lower the carbon footprint of the cement industry. 

SCMs are also used in concrete to reduce the requirement for cement clinker, an intermediate product in the sector. 

The company has been collaborating with one of Thailand’s largest cement manufacturers to determine the use and economic value of residues from lithium concentrate processing from Reung Kiet ore. 

According to Pan Asia, the testwork confirms that the residues can be used in cement manufacturing, and further work on siltstone waste confirms that this waste is ‘chemically benign’. 

Pan Asia plans to also apply the testwork to lithium conversion residues.   

The testwork builds on Pan Asia Metals’ environmental, social, and governance (ESG) credentials and diverts an otherwise one-million-tonne-per-annum (tpa) waste stream from lithium concentrate processing into a valuable by-product.

Pan Asia also notes that as part of its by-product strategy, it aims to secure battery and critical metal development projects near key infrastructure and industry to help facilitate the creation of valuable by-products and reduce the physical footprint of its future mining operations. 

The company anticipates all by-products and waste streams from Reung Kiet to be utilised in value-adding initiatives, therefore reducing the footprint of its mining operations in Thailand. 

Managing Director Paul Lock says the testwork has the potential to place the company at an advantage over other lithium producers.   

“The positioning of the RK Lithium Project near major growth and industrial centres allows us to consider alternatives to traditional mining and processing waste practices.

We expect to be able to achieve similar outcomes with our mining and beneficiation residues, placing PAM at an advantage to other lithium producers. This is a major part of our ESG plan. 

Our positioning in Chile has the potential to achieve similar outcomes, particularly with residual salt.”

“The positioning of the RK Lithium Project near major growth and industrial centres allows us to consider alternatives to traditional mining and processing waste practice”

Pan Asia Metals represents the only publicly listed battery materials company with lithium projects in Southeast Asia and South America. 

The company’s assets sit in Thailand — the largest vehicle producer on the continent — and in the Atacama region of Chile.

Write to Adam Drought at Mining.com.au

Images: Pan Asia Metals
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Pan Asia formulates Tama-Atacama exploration plans

Pan Asia Metals (ASX:PAM) is formulating fresh exploration plans, including geophysical work and potential drilling, for its Tama-Atacama Brine-Clay Lithium Project in Chile. 

The $24.21 million market capitalisation company is working with Geological Advisor Jacob Rebek and Consultant Country Manager Thomas Eggers to refine these plans. 

The news follows the delivery of lithium assays from surface samples collected at the Dolores North Lithium prospect in the area, which returned elevated lithium from surface salt crusts. 

Pan Asia collected 26 samples at Dolores North, with 10 of these samples returning values of more than 200 parts per million (ppm) lithium and averaging 319ppm lithium, with a peak value of 608ppm lithium. 

Elevated lithium values have been delineated over a strike length of about 20km. 

Pan Asia Metals Managing Director Paul Lock says these ‘great’ results help build the bigger picture for the Tama-Atacama project. 

“Pan Asia Metal’s target lithium brine concessions span 140km in length and have an area of 1,000km-square, with further lithium brine potential to the south of this area.

“The geochemical program discussed herein identifies elevated lithium values at Dolores delineated over a strike length of approximately 20km”

The geochemical program discussed herein identifies elevated lithium values at Dolores delineated over a strike length of approximately 20km, building on the bigger picture.”

Lock adds that the geological position of the project and its proximity to necessary infrastructure means it could offer the company ‘easy access and simpler operations’ in the future. 

Pan Asia has now proposed additional surface sampling of the salt crust in the Salar at a spacing of around 1km-by-1km. 

The company is floating electrical geophysics — such as resistivity or electromagnetics work — to evaluate the potential for sub-surface brine to 500m deep. 

Pan Asia says should this prove to be successful in locating conductive brine, it will then conduct broad-spaced drilling to sample the brine horizons. 

The company has already assessed potential drillhole locations. 

The Dolores prospect forms part of the Tama-Atacama project in the Pampa del Tamarugal basin in the northern part of the Atacama Desert in northern Chile. 

As of 30 September 2023, Pan Asia had $104,000 cash and cash equivalents at hand, according to its latest quarterly report. Post quarter-end, the company announced it was conducting a placement to raise $1.45 million. 

Write to Aaliyah Rogan at Mining.com.au 

Images: Pan Asia Metals
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Pan Asia bolsters Reung Kiet MRE

Pan Asia Metals (ASX:PAM) has upgraded the Mineral Resource Estimate (MRE) for its Reung Kiet (RK) Lithium prospect in southern Thailand by 42%. 

The $23 million market capitalisation company reports the measured, indicated, and inferred MRE — at a 0.25% lithium oxide (Li2O) cutoff — now sits at 14.8 million tonnes (Mt) @ 0.45% Li2O, 391 parts per million (ppm) tin (Sn), 77ppm tantalum pentoxide (Ta2O5), 0.20% rubidium, and 237ppm caesium (Cs). 

This MRE update is based on 102 diamond drillholes complete in the project area. Pan Asia says alongside the mineral resource tonnage increase to 14.8Mt, the contained lithium carbonate equivalent (LCE) grew by 46% to 164,500 tonnes. 

CSA Global estimated the MRE in accordance with the Australian JORC Code (2012). 

Shares in Pan Asia were up 10.34% to $0.16 at midday AEST on 2 November. 

Pan Asia Metals Managing Director Paul Lock says increasing the mineral resource by nearly 50% is a ‘great’ outcome for the company, and shifting 50% of the mineral resource into the measured category and 75% into measured and indicated, alongside the 164,000-tonne LCE increase, is ‘fantastic’. 

“Further, the bulk of the mineral resource is in the 0-150m zone, so it’s doable, and PAM’s metallurgical testwork confirms that the oxide zone beneficiates essentially as well as the fresh zone, putting PAM in a great position. 

With the updated mineral resource, we will generate a pit shell, and this will feed into our feasibility work, which is progressing well.”

“With the updated mineral resource, we will generate a pit shell, and this will feed into our feasibility work, which is progressing well”

Now that the MRE update is completed, Pan Asia can conduct mining studies and complete a Preliminary Feasibility Study (PFS), alongside submitting a mining licence application. 

Subject to the results of the PFS, the company notes the upgraded MRE will allow for an ore reserve to be declared. 

The RK lithium project is a lepidolite-style project about 70km northeast of Phuket in the Phang Nga Province in southern Thailand. 

Pan Asia Metals is a battery minerals-focused explorer with lithium projects in Southeast Asia and South America. 

As of 30 September 2023, the company had $161,000 cash at hand, according to its latest quarterly report. Post quarter-end, the company announced it was conducting a placement to raise $1.45 million. 

Write to Aaliyah Rogan at Mining.com.au

Images: Pan Asia Metals
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.