ERAMET : Top 7 Lithium Stocks of 2024

MrktBeep

19 avril 2024 •09:16

Lithium Chile (TSXV:LITH)

Year-to-date gain: 50.94 percent; market cap: C$164.97 million; current share price: C$0.80

South America-focused Lithium Chile owns several lithium land packages in Chile and Argentina. Presently, the explorer is working to delineate the deposit at its Salar de Arizaro property in Argentina.

Company shares initially trended down, but ultimately rose 32 percent between January 1 and the end of February.

On February 28, the company released “favorable” results from a new drill hole completed on the northeastern side of Salar de Arizaro, calling them an important step in its roadmap. Hole ARDDH-08 was drilled to a depth of 606 meters, encountering a brine-rich sandy formation at 200 meters. Samples were sent to Alex Stewart Laboratory in Jujuy, Argentina, revealing lithium grades of 180 milligrams per liter at 50 meters and 690 milligrams per liter at 200 meters.

In early March, Lithium Chile penned a farm-In agreement with European mining company Eramet (EPA:ERA). The agreement aims to expedite exploration efforts on four of Lithium Chile's Chilean properties — Llamara, Aguilar, Rio Salado and Aquas Caliente — with a total land area exceeding 40,000 hectares