Only frustrating for those that keep forgetting that we have the largest holding in the Bynoe and set to grow with more land grants. And all at half the market cap of our neighbouth (thanks greenbull for the article).
Neighbours are ramping up drilling and based on what CXO has been finding I think a major rerate is beginning.
First there was the hard rock lithium rush in and around Pilbara Mines’ (PLS)Pilgangoora project in the Pilbara. Then came Kidman’s (KDR) Mt Holland project near Southern Cross.
Now a third lithium province is opening up — the Bynoe belt some 50km south of Darwin. And like those before it, the Bynoe is giving the juniors involved a shot at a bigger and brighter future.Core Exploration (CXO) has been setting the pace in the Bynoe, once a tin-tantalum camp for Greenbushes, owner of the world’s biggest hard rock lithium project back in Western Australia.
Its shares have motored from a couple of cents at the start of the year to Friday’s 13.5c close, and it has pulled in $6m from a placement to get cracking at its flagship Finniss project.
Today’s interest though is in Tim Goyder’s Liontown. It too has been a good performer, moving from a couple of cents at the start of the year to Friday’s 3.8c. Following up drilling to the spodumene zones intersected in previous drilling (including 42 metres at 1 per cent lithium oxide) is underway and given the interest shown in Core’s nearby work, the results could be worth watching out for.
Goyder has also positioned Liontown as a lithium player back in WA with its less advanced Kathleen Valley and Lake Percy lithium projects. To fast-track drilling in the Bynoe and the other projects, Liontown is raising $1.4m from a one-for-five rights issue at 1c each.
