LITHIUM LITHIUM LITHIUM - There now that I have your attention I have just been doing a bit more reading on PLS and AJM, who both have significant lithium deposits at Pilgangoora. PLS had a nice increase in SP on Friday and has been getting plenty of attention lately, however Altura Mining AJM (who has been very unloved due to some poor management decisions regarding their other coal assets) has also recently undertaken a $3.5million cap raise, which they intend to use for the completion of feasibility studies and progression of a mining lease for their Pilgangoora deposit. Now the interesting thing is that after all of the recent drilling that PLS has undertaken their indicated and inferred lithium deposit is 20.8MT @ 1.16% lithium oxide, whilst AJM (who's deposit is immediately adjacent to PLS) already hosts a JORC resource of 25.2MT @ 1.23% lithium oxide. Now if you compare M/C PLS is at $44.5mill whilst AJM is at $10.9mill. AJM also has interests in coal (but lets forget that for now even though they do get royalty payments). AJM is currently trading at 1.3c, but was trading at 10-20c until September last year when management screwed the pooch with their coal asset. Now re-focussed on their lithium deposit this thing would appear to have some serious legs in the ST. Just check out the attached chart (borrowed from PLS latest announcement), which shows the size of the AJM hard rock lithium deposit compared to PLS and the other big players around the globe PLS is the red dot and AJM is the black dot). PLS even acknowledge the higher size of the JM deposit in their latest ASX announcement. This stock cannot remain at these prices for long. If you like lithium I suggest you check them out. Oh, by the way FIB is on-board too. Check out his recent review of them on the thread.
