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9.5¢ core lithium ltd

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iamagenius

6,569 Posts.

470

14/05/22

12:20

Post #: 61407076
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Originally posted by trade2rich ↑

US markets were up last night and Tesla gained a massive +5.8%. ASX will (most likely) open very strong on Monday with Li/Metals at front line.

Anyway, most exciting news is here..

"In a bid to reduce its reliance on China for critical metals, the US Department of Defense is seeking Congressional approval to finance mining and processing of strategic metals, particularly, lithium and rare earths, in Australia."

Australia traditionally, is the biggest Li producer in the world and supplies 2x Chile's plus China's (2nd and 3rd ranks).

Last week, I have shared another post about a Singapore fund pouring $B into Australia Lithium sectors for battery production/Li refining in UK. The big guys obviously are shifting away from China (supplies 80% currently), instead working rapidly with Australia for their energy requirements.

Once US Defense bill is approved (very much likely), $B would flow through in Australia's mining industry, especially Li, Nickels, REE, critical metals.

We all know what this would mean for PLS/MIN (Producing), CXO (near production) and others - Li explorers. US defense generally needs much more energy, metals than what we can all think of.

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Is this for real , this is unprecedented ,

CXO Price at posting: $1.15 Sentiment: None Disclosure: Held
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Last 9.5¢		Change -0.010(9.52%)		Mkt cap ! $207.2M

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