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The producer of the key component used to make EV batteries expects to report a worse-than-expected loss in the first half of 2025, with no end in sight as prices remain low
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) told shareholders that Ganfeng Lithium has officially commenced production at the Mariana Lithium salt-lake project in Argentina, marking a significant milestone for the company, which holds a 1.5% net smelter return (NSR) royalty on the project. Ganfeng, one of the world's leading lithium producers, held a ceremony last week, to celebrate the start of formal production at the first phase of the Mariana project.
China's Ganfeng Lithium has officially started production at its Mariana lithium project in Argentina. The new facility, with an investment of $790 million, is designed to produce 20,000 tonnes of lithium chloride annually, sourced from the Llullaillaco salt flat extraction.
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) is on the brink of generating significant royalty revenue as its stake in Ganfeng Lithium's Mariana lithium project in Argentina heads toward commercial production, Fundamental Research analysts believe. The analysts have raised their share price target for TNR from $0.24 to $0.28 per share, highlighting the imminent cash flow potential from this strategic investment.
Ganfeng Lithium's new lithium chloride production plant in Argentina, is set to officially open on February 12, marking a significant milestone in the Mariana Lithium Project. The plant, a subsidiary project of China's Ganfeng Lithium Group, will initially produce 20,000 tons of lithium chloride annually.
I rate Ganfeng Lithium as a Buy due to favorable lithium market dynamics and the company's increased vertical integration. The lithium market's demand-supply dynamics have turned favorable, boosting Ganfeng's growth prospects. GNENY is taking steps towards becoming more vertically integrated, which should enhance its future profitability.
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) announced on Monday that Ganfeng Lithium has reaffirmed its plans to commence production at the Mariana Lithium Project in Argentina by the end of 2024. TNR holds a 1.5% net smelter return (NSR) royalty on the project, including a 0.15% NSR royalty held on behalf of a shareholder.
Lithium prices were flat the past month. Lithium market news - The US government is reportedly examining price support mechanisms for domestic critical mineral projects. BloombergNEF forecasts lithium deficits may begin in 2025. Lithium company news - Arcadium Lithium confirms takeover offer from Rio Tinto. Bikita Minerals has shut down one of its production plants, citing weak global prices.
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