- Gold explorer Ardiden the latest company to remind punters about its “strategically located high grade lithium assets”
- Golden Deeps to drill historic, super high grade copper and silver mine
- Red hot graphite play Renascor signs offtake memorandum of understanding (MOU) with a $1.7 billion battery chemicals trader
Here are the biggest small cap resources movers in morning trade, Thursday March 25.
The busy explorer has vanadium, gold silver and copper projects in Australia and Namibia.
In April, a 750m drilling program will kick off at the historic, super high grade Khusib Springs copper deposit in Namibia.
Khusib Springs produced 300,000t at 10 per cent copper and 584g/t silver between 1996 and 2003 (that’s very high grade) and only closed due a very low copper price.
At the beginning of 2003 — towards the end of mining — the copper price had fallen to $US1,500 per tonne. It is now dancing around $US9,000/t.
Earlier this month Golden Deeps started a mining study on the historic Abenab vanadium mine, also in Namibia.
Until recently, a bunch of explorers had lithium projects gathering dust in the recesses of their respective project portfolios.
But lithium is cool again, and these companies are trying to figure out the best way to capitalise.
Canadian gold explorer Ardiden is the latest company to remind punters about its “strategically located high grade lithium assets”.
“Ardiden is well positioned to extract benefit from re-invigorated interest in the Critical Minerals sector,” managing director Rob Longley says.
“While we remain firmly committed to our gold exploration at Pickle Lake, we have received significant interest in our lithium assets and are working diligently to deliver the best possible value to Ardiden shareholders.”
(Up on no news)
On March 15 Queensland fertiliser farmer Centrex released this confusing announcement:
Mining is expected to be completed by the end of March, so yes, “near completion” would be about right.
Initial work will produce 25,000 to 30,000 tonnes of ore from the Ardmore South Deposit “at a reasonable cost”, Centrex said late February.
“Interest has already been shown in purchasing some of this Ardmore production and it is anticipated that demand will increase as the product becomes available,” the company says.
Centrex is up 100% so far this year.
The red hot graphite play has just signed an offtake memorandum of understanding (MOU) with a $1.7 billion battery chemicals trader.
To be clear an MOU is not a supply deal; it is a non-binding agreement that generally comes before a legally binding one.
Japanese firm Hanwa wants to purchase of up to 10,000 tonnes per annum of Purified Spherical Graphite (PSG) over 10 years.
This represents a third of the initial PSG production capacity of Renascor’s planned Battery Anode Material operation in South Australia, the company says.
Renascor is now up 1316% in 2021. Incredible gains.
Metal Bank (great name) is a gold explorer with projects in North Queensland, a region that hosts several gold mines including Cracow (3moz), Mt Rawdon (2moz), Mt Morgan (8moz) and Gympie (5moz).
Drilling at the company’s ‘8 Mile project’ near Mt Rawdon was completed in Feb, with results due out very soon.
Drilling to test a new large scale target at the ‘Eidsvold’ project is also due to kick off this month.