Resources Top 5: Name-dropping ‘Tesla’ gives these lithium stocks a boost
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Here’s your top ASX small cap resources winners in morning trade Friday, September 25.
A former Tesla director has joined the team of supercharged lithium explorer Vulcan Energy (ASX:VUL).
Jochen Rudat, ex-Tesla director for Central Europe, was responsible for the launch of Tesla’s various models in the region.
He spent 10 years with Tesla, during part of which time he reported directly to Elon Musk, Vulcan says.
Vulcan, which has kicked off a project pre-feasibility study on its unique, very large lithium-rich geothermal brine project in Germany, has been actively bolstering its leadership team.
“Jochen will work alongside and complement our business development team led by Vincent Pedailles, providing his expert industry insight as we explore offtake agreements and strategic partnerships surrounding our world-first Zero Carbon Lithium product, process and project in Europe,” Vulcan managing director Dr Francis Wedin says.
The stock is now up +500 per cent over the past six months. Not bad for a battery metals play.
“Tesla has recognised the potential of sediment hosted lithium deposits, such as Jindalee’s McDermitt project in Oregon, to provide a long life and low-cost source of lithium to the US electric vehicle battery market,” the company says.
McDermitt also happens to be pretty close to Tesla’s Gigafactory.
First Au’s (ASX:FAU) historic ‘Haunted Stream’ gold project area has now won approval from the Victorian government.
The granting of Haunted Stream is the final condition to the First AU’s acquisition of private company Victorian Goldfields.
Historic mine records dating back as far as the 1880s show ore being extracted from Haunted Stream at above 1 ounce per tonne, the company says.
There’s limited to no drilling to effectively test these old mines at depth. An initial field work program will kick off next week.
The spark is Metzke’s Find, where Dreadnought has continued to hit thick, shallow and high grade gold.
The first eight holes of the program all hit the gold lode, with intercepts including a highlight 4m at 19.9 g/t, 45m from surface.
“We have now confirmed high-grade intercepts from ~20m to ~120m in depth and along 280m of strike,” Dreadnought managing director Dean Tuck says.
“There are a further nine holes at the lab which will add further intercepts at depth and to the south.
“We are looking forward to the results from these nine holes as well as our first holes at Longmore’s Find and Black Oak.”
Struggling miner Heron Resources (ASX:HRR) has been running the ruler over potential refinancing, joint venture, or sale options for its mothballed Woodlawn zinc-copper project in NSW.