Pilbara Restarts, Albemarle Retreats, Manono Looms, Lithium Ionic (Keith Phillips & Mike Westendorf)

Описание: In this Rock Stock Recap, we (Howard Klein and Matt Fernley) are joined by Keith Phillips—former CEO of Piedmont Lithium and now Executive Chairman of Q2 Metals—to discuss the latest developments across lithium and select rare earth themes. Including an interview with Lithium Ionic (TSXV: LTH) COO Mike Westendorf on the Bandeira project.

Chapters

(00:00:00) Intro
(00:03:13) Keith's New Role At Q2
(00:05:10) BMO And PDAC Preview
(00:07:12) Rare Earths Americas Update
(00:08:32) Pilbara Restart And Supply
(00:12:39) Quebec Infrastructure Edge
(00:17:03) Albemarle Kemerton Shutdown
(00:19:08) Conversion Location Debate
(00:21:13) Consolidation And Priorities
(00:29:30) Mangrove And Processing Plans
(00:34:37) Manono Supply And Logistics
(00:38:36) US-Canada Outlook
(00:43:11) Lithium Ionic
(00:44:32) Bandeira Project Location
(00:45:57) Underground Mining Strategy
(00:46:53) Feasibility Study And CapEx Reduction
(00:49:25) Production Targets And Mine Life
(00:50:02) Operating Costs And Advantages
(00:53:25) Processing And Revenue Upside
(00:55:49) Permitting Status And Progress
(00:59:27) Construction Timeline
(01:00:00) Financing And Funding Interest
(01:01:21) Key Catalysts Ahead
(01:02:02) Cash Position
(01:02:34) Closing Remarks

We start with our recent work on critical minerals policy, including a framework for prioritizing USGS-designated critical minerals, current Washington signals (including Project Vault and related announcements), and the upcoming House hearings for the Secure Minerals Act (Feb 24). From there, we turn to market-moving supply and project updates across the global lithium chain.

Key discussion points include:
• Q2 Metals and the Cisco spodumene discovery in James Bay, Quebec—resource timing, scale, grade, and infrastructure advantages
• Mining conference season preview (BMO and PDAC) and what investor and strategic conversations tend to focus on
• Rare Earths Americas—early-stage assets in the US and Brazil and the broader “Americas critical minerals” backdrop
• Pilbara’s restart activity and what it signals about near-term latent capacity, plus broader supply visibility questions (including Africa)
• Albemarle’s Kemerton decision and what it implies about conversion economics, capex risk, and where conversion can be competitive
• Why infrastructure, logistics, and transport costs matter most when spodumene pricing is low—and how that shapes project selection and consolidation

In the second half, we provide an update interview with Lithium Ionic (TSXV: LTH) COO Mike Westendorf on the Bandeira project in Brazil’s “Lithium Valley,” adjacent to operating peers. We cover:
• Updated feasibility study highlights, including capex reduction and design changes to improve robustness through price cycles
• Operating cost drivers (processing route, power, local supply chain, and logistics) and the role of ore sorting / DMS
• Permitting status, recent regulatory developments, and the expected pathway to FID and production timelines
• Current financing environment, potential funding structures, and near-term catalysts through 2026

Sponsors

Lithium Royalty Corp (TSX: LIRC) - diversified lithium royalty portfolio.
(Website: https://www.lithiumroyaltycorp.com/ | X: https://x.com/Lithium_Royalty)

USCF Investments - commodity-focused ETFs (e.g., CPER copper, ZSB battery metals, USG gold, SDCI diversified commodities).
(Website: https://www.uscfinvestments.com/ | X: https://x.com/USCFInvestments)

Links

Strategic Lithium Reserve (SLR) White Paper: https://blog.rkequity.com/2025/12/08/...
Read Matt's research blog: https://blog.rkequity.com/
Sign up for the Lithium-Ion Bull newsletter/Matt's Blogs: https://rkequity.com/

Have a question? Drop us an email: [email protected]
Patreon:   / rockstockchannel  
Podcast:
Apple Podcast: https://podcasts.apple.com/us/podcast...
Spotify: https://open.spotify.com/show/0KiMIZO...
X (Twitter):
Howard: https://x.com/LithiumIonBull
Rodney: https://x.com/RodneyHooper13
Matt: https://x.com/matt_fernley

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DISCLAIMER

NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH

Howard, Matt and Rodney are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity's website https://www.rkequity.com

Intro and outro audio credit: Jamie Klein