• West Cobar Metals is leading the gainers today based on… last week’s REE results, we presume
  • Meanwhile, MetalsGrove has expansion news, making a bold Zimbabwean move for lithium
  • Dynamic Metals and Winsome Resources also have strong lithium stories to tell

Here are some of the biggest resources winners in early trade, Monday December 11.

 

West Cobar Metals (ASX:WC1)

(Up on no news)

There’s no fresh news from WC1 hitting the bourse so far today, but it’s been leading the ressie gains all day so far. It did, however, relay some eye-catching results last week…

The rare earths hunter delivered what it describes as outstanding REE beneficiation results coming from its Salazar project north of Esperance in WA.

It’s effectively a 34X upgrade to 5.08% TREO – rare earth oxide – gleaned from extensive testworking.

“High grade concentrate (5.08% TREO) was produced from a sample ore grade of 0.148%, representing a 34:1 upgrade,” noted the company last week.

West Cobar Metals’ MD Matt Szwedzicki  said:

“This is an amazing upgrade result for O’Connor and has the potential to be a game changer. A 5% TREO grade is a great step towards commercialisation.

“Compared to hard rock deposits, our clay deposits should benefit from lower capex and opex – our ore is free dig and there is no blasting or crushing required.”

Further testwork is planned.

WC1 share price

 

MetalsGrove Mining (ASX:MGA)

This diverse metals-hunting minnow, largely focused on lithium, rare earths, copper-gold, manganese and base metal projects in the NT and WA, has just revealed its expanded its lithium search into Zimbabwe. 

MGA has nabbed itself six high-grade lithium assets in the African country. The claims are located close to the renowned Arcadia Minerals lithium-producing mine in Zimbabwe. And that’s one of the world’s largest lithium mines, producing 450,000t/yr of lithium concentrates.

 In particular, the company notes, recent rock chip samples at the Arcturas project have returned grades up to 2.5% Li2O and at the Beatrice Project 2.1% Li2O from the surface outcrops. 

All six claims are located fairly close to Harare, to the east and to the south of the capital, about 35km-55km away. 

 Spod? Yep, it’s established that minerals at the sites consist of  spodumene and lepidolite-bearing pegmatites and are “populated by several artisanal workings and pegmatite surface outcrops” – some exposed, some close to surface.

An exploration campaign is due to begin at the sites in Q1 2024.

MetalsGrove’s MD Sean Sivasamy and the company’s board believes the acquisitions represent a “transformational opportunity” for MGA, “supported by a strong lithium market”.

Re that latter part, the price of “spot” lithium might want to arrest its slide…

… But neverthless, it’s an exciting strategic play in a proven lithium district, with the MD adding:

“Importantly, the upfront acquisition terms are modest, allowing the company to set about rapidly advancing these projects through a targeted exploration campaign early next year.”

MGA share price

 

Dynamic Metals (ASX:DYM)

Critical minerals hunter DYM is making a dynamic case on the bourse at the time of writing today, on the back of some excellent lithium-based assay results at its Spargos East and Franks Far Southeast prospects.

These are located at the larger Widgiemooltha Project in the Goldfields region of WA.

The first round of assays from an 800-strong soil sampling program at the two prospects are showing up to 409 parts per million (ppm) Li2O.

Highly encouraging to say the least. Notably, too, the Spargos East prospect is located only 14km south of Mineral Resources’ (ASX:MIN) monster Mt Marion lithium mining and processing operations.

After successfully completing an IPO in January this year raising $7 million, Dynamic has been aggressively exploiting its flagship Widegiemooltha project for lithium prospectivity.

The company says it’s systematically working through the lithium potential of the sizeable 880km2 tenure.

Read more > here.

Dynamic Metals is right in the thick of a burgeoning lithium precinct in WA’s Goldfields’ region. Source: DYM

DYM share price

 

Winsome Resources (ASX:WR1)

WR1 may not be knocking it completely out of the park today in terms of share price (yet), but it’s still up about 6% and it has some big news of note, so we’re including it here as well worth a look, too.

As Stockhead ressie expert Reubs noted earlier:

“Quiet achiever Winsome Resources (ASX:WR1) has unveiled a long awaited maiden 59Mt @1.12% maiden resource for the Adina lithium project in James Bay, Canada.

Long overshadowed by overachieving neighbours Patriot (ASX:PMT) and Allkem (ASX:AKE), WR1 is now once of the top 5 hard rock lithium players in North America.”

Reuben tuned into a WR1 investors call and has further intel, which you can read about here.

Essentially, though, WR1 managing director Chris Evans expects lithium prices to improve next year, Winsome continues to be ‘bombarded by requests to engage’ with strategic partners, and the company has a resource update due H1 and a project study in H2, 2024.

WR1 share price

 

At Stockhead we tell it like it is. While Dynamic Metals is a Stockhead advertiser at the time of writing, it did not sponsor this article.

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