In Case You Missed It: A new lithium player launches and high-grade REE in the NT
Stockhead’s In-Case-You-Missed-It highlights some strongest performing ASX stocks that might have slipped your notice today.
It’s a short, sharp update to help frame the trading day by showing some of the biggest movers in percentage terms.
Stocks highlighted in blue have made market-moving announcements (click headings to sort).
Lithium Universe (ASX:LU7) (formerly known as Mogul Games, an online gaming and esports operation) has officially hit the ASX this morning led by lithium trailblazer Iggy Tan.
(You may remember Tan as one of the first Australian mining executives to identify the opportunity within the emerging lithium-ion battery sector when he spearheaded Galaxy Resources (ASX:GXY) and advanced Galaxy’s Mt Cattlin 137,000 tpa spodumene project.)
LU7 is focusing on Tier-1 lithium mining opportunities in Canada and Australia, with its first priority the 240km2 Apollo Lithium Project in the James Bay region of northwest Québec, Canada.
The very same James Bay where lithium major Allkem (ASX:AKE) reported a whopping 173% increase in the mineral resource for its James Bay project, at 110.2Mt @ 1.30% Li2O last week, Cygnus Metals (ASX:CY5) released a 10.1Mt @ 1.04% Li20 maiden resource today, Patriot Battery Metals’ (ASX:PMT) released a monster maiden resource at its Corvette project of 109.2Mt @ 1.42% Li2O in July.
On the rare earths (REE) from, MetalsGrove Mining (ASX:MGA) has announced a high-grade carbonatite rare earthdiscovery at the Arunta project in the Northern Territory.
The newly found carbonatite is reported to be up to 7,000ppm (0.70%) TREO with multiple zones of mineralisation. The company adds there is “potential for sufficient rare earth minerals resource tonnes”.
Carbonatites are also a major source of the metal niobium, used for strengthening alloys of iron and other metals used in all manner of construction across various industries.
Black Canyon (ASX:BCA) has completed RC drilling across 6 key targets within the Balfour Manganese Field in WA that has confirmed widespread manganese mineralisation across a number of the prospects.
At Stockhead we tell it like it is. While Lithium Universe and Talon Energy are Stockhead advertisers, they did not sponsor this article.