A very unpatriotic sell-offGiven all that, Garimpeiro reckons the run up in the share price in the companies with Tier 1 discoveries under their belt is not over yet. And this week he adds another one, Patriot Battery Metals (ASX
MT).
There was a dumb sell-off in the stock during the week because latest drilling results from a newly discovered lithium pegmatite at its Corvette project in Canada were not as spectacular as earlier results from its CV5 pegmatite.
The results from the new pegmatite (CV13) would have dream time stuff for any other lithium explorer. It’s just that Patriot has set the bar so high at CV5. Former Pilbara Minerals (ASX
LS) boss Ken Brinsden reckons Corvette is the biggest thing since sliced bread, and he would know.
Watch out for more grade hits from the emerging super-grade zone at CV5 in coming days, and more exploration results from CV13 and Corvette’s other pegmatite swarms, all of which may well coalesce at depth in to something that could make all other known sources of hard-rock lithium look on the small side of things.
Industry players are watching, that’s for sure. Mineral Resources (ASX:MIN) and Pilbara are both rumoured to have been nibbling their way on to the share register. That’s because Tier 1 finds of any description don’t come along all that often.
Rio Tinto, which is full of lithium ambition, knows that more than most.
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