The Hot List: Which small cap lithium stocks are enticing professional investors at Diggers and Dealers?
Stockhead roamed the crowded Diggers & Dealers exhibition floor on the morning of Day One to ask professional investors for their favourite small to mid-cap ‘stocks to watch’.
A South American investment group told Stockhead they were keen to sit down with AZS, which today announced a 100-240Mt @ 1-1.5% lithium exploration target at the Andover project in the Pilbara.
That puts it in tier 1 territory.
It follows this monster hit (not true width) announced last week:
⭐ 209.4m @ 1.42% Li2O in hole ANRD0017
⭐ 2nd hole intersected: 183.1m @ 1.25% Li2O in hole ANDD0228
— Azure Minerals (@AzureMinerals) August 3, 2023
Outrageous. The Creasy/SQM-backed explorer breezed through $1bn market cap in response. It is up over 1000% in the past 12 months.
WC8 came up more than once.
Investors and fellow lithium stocks are keeping a close eye on the early-stage explorer, which rerated in May after buying the Tabba Tabba lithium project in the Pilbara.
Located on a mining lease, Tabba Tabba is a stone’s throw from a 10Mt-15Mt resource surreptitiously drilled out by mining major FMG (ASX:FMG).
Maiden drilling kicked off mid-July.
At least one decent-sized lithium co is keeping a close eye on Canadian stock CRR, an exec told us in the coffee line.
In July, CRR reported a massive 74.4m of continuous spodumene-bearing pegmatite in its first hole of the summer drilling program at the Mavis Lake project.
The record intercept is outside the current 8Mt lithium resource envelope “and is expected to result in a meaningful increase in total resource tonnage”, CRR says.
Extensional drilling will continue throughout the next few months to support a late Q4/ early Q1 2024 resource upgrade, CRR says, with first assays due in the next few weeks.
The company also plans to test its Gullwing and Tot Lakes pegmatites – which are contiguous to the Mavis Lake tenements – later this year.