Miners recover led by lithium plays The iron ore price nosedived...

Miners recover led by lithium plays

The iron ore price nosedived overnight but it did little to blunt the performance of the diversified miners, who rode positive sentiment across the market.

The Materials index was up 1.44% to lead the ASX 200.

Lithium miners were the standouts, following news in the global market that Tesla had signed a three-year deal to hoover up battery grade lithium hydroxide from China’s Ganfeng.

Chinese media have also reported Tesla plans to buy some 45GWh worth of lithium iron phosphate batteries from CATL, as Elon Musk’s auto maker looks to ramp up production.


Another lithium Ten-Bagger confirmed.

The popular lithium stock has now posted three straight days of gains since announcing a $13m cap raise Monday.

Proceeds from the placement – plus the $5m AZL already had in the bank — will be used to design and construct a research facility to process material from the flagship ‘Big Sandy’ lithium project and fast-track metallurgical test work.

Exploration drilling is also fully funded and will begin immediately after US Bureau of Land Management approval is received, AZL says.

Big Sandy currently has a resource 32.5 million tonnes grading 1,850 parts per million lithium for 320,800 tonnes of lithium carbonate equivalent.

This covers just 4% of the project area, the company says.

“With metallurgical testing continuing at Hazen, and further drilling planned at Big Sandy with the aim of further expanding the existing resource, it is an exciting time for all AZL stakeholders,” managing director Paul Lloyd says.

The $250m market cap stock has gained an impressive 260% over the past month, and 1,350% year-to-date.


ASX lithium explorers are running hot this week.

AM7 has come out of a trading halt today to announce the ‘conditional’ acquisition of JORC resources abutting its ~3,438sqkm ‘Bitterwasser’ lithium project in Namibia.

The new ground contains an ‘inferred’ resource of 15.1 million tonnes @ 828ppm lithium and 1,79% potassium – grades which “compare favourably with similar clay deposits in Clayton Valley, Nevada, USA”, AM7 says.

This resource area represents only 6% of the newly acquired exposed clay pans.

The licenses also hold potential to host lithium-in-brine aquifers, with a “proof-of-concept” study now underway to guide exploration over a geological feature known as the ‘Kalkrand Half-Graben’.

Auger drilling to expand the resource will kick off this month, AM7 says.

The $8.9m market cap stock is up +30% on its June listing price of 20c per share.




Yet here we ( AVZ ) sit treading water @ 0.40c

With "Mr forward looking Market" asleep at the Wheel

Or too busy looking at other Hot Li Stocks to notice atm

While sitting in the Car Park waiting for the ML to Magically appear

Who knows, but bugger me, give us a break ffs