- Positive share price momentum for lithium stocks continues into new week
- Explorers mentioned in Stockhead’s ‘Cheapest lithium-facing stocks on the ASX’ yarn making market-leading gains
- Winners include Ardiden, Aruma, Reedy Lagoon, Charger, and Hawkstone
Here are the biggest small cap resources winners in early trade, Monday August 8.
ARDIDEN (ASX:ADV)
(Up on no news)
Last week, ASX lithium stocks went mental. The momentum has carried into the new week, with a bunch of explorers mentioned in our ‘Cheapest lithium-facing stocks on the ASX’ yarn making gains on Monday.
Canadian gold explorer Ardiden, which led the pack in early trade, recently reminded punters about its “strategically located high grade lithium assets”.
The explorer has inked a JV with Green Technology Metals (GTM) to explore and potentially develop these non-core lithium assets in Ontario.
GTM would progressively acquire up to 80% ownership of the lithium tenements for $9.2 million, subject to shareholder approval.
ARUMA RESOURCES (ASX:AAJ)
(Up on no news)
Aruma’s main game is also gold, but it also has the early stage ‘Mt Deans’ lithium project near Norseman in WA.
Aruma is planning a 40-hole drilling program in the New Year.
REEDY LAGOON (ASX:RLC)
(Up on no news)
The gold-iron ore focused explorer has two Nevada lithium brine projects in its back pocket: Alkali Lake North and Clayton Valley.
Reedy says these lithium brine projects are on hold “until technology enables production without evaporation”.
Which there is – it’s called Direct Lithium Extraction (DLE), and all the cool kids are doing it.
CHARGER METALS (ASX:CHR)
(Up on no news)
One of the ASX’s newest lithium and base metals plays made headlines when New York-based fund manager Lind Partners took a substantial 7.34% stake.
In late July, Charger uncovered a new lithium target at the Lake Johnston Project in WA. The company plans to fast track targeting work “to allow drilling to be undertaken at the earliest possible time”.
It also has a lithium-gold project called ‘Bynoe’ in the Northern Territory, surrounded by tenements owned by advanced project developer Core Lithium (ASX:CXO).
HAWKSTONE MINING (ASX:HWK)
(Up on no news)
The US-based explorer is spinning off its gold-copper projects into a new company to focus entirely on its ‘Big Sandy’ lithium project in Arizona.
“The June Quarter was highlighted by successful beneficiation test work on mineralised material from the Big Sandy Lithium Project, indicating a potential significant pre-treatment mass reduction,” Hawkstone managing director Paul Lloyd says.
“This follows the successful production of 99.8% battery grade lithium in the March 2021 quarter.”
Hawkstone — which will change its name to ‘Arizona Lithium’ — says metallurgical test work on lithium mineralised material is ongoing, while permits for further drilling and bulk sampling is anticipated.
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