Lithium In Australia With Macarthur Minerals
Most of the stocks that I write about are Canadian junior mining stocks. One of the reasons why is because about 80% or more the junior mining companies are Canadian based and are listed on the Canadian exchanges. There are some junior mining companies that are listed on the Canadian exchanges but are based outside of the country. Today we're going to take a brief look at one such company. This company is an Australian lithium explorer that is working in it's home country in Australia.
Macarthur Minerals MMS is an iron ore type of explorer with two projects on the go. One of those projects is the Ularring Hematite Project which is an encompassing hematite iron ore hematite, to be marketed as potential direct shipping and/or beneficiated iron ore; and
the second project is the Moonshine Magnetite Project which is a magnetite iron ore magnetite, to be marketed as a beneficiated magnetite concentrate.
These two projects however are notwhat has put Macarthur Minerals in the spotlight as far as the stock goes for investors or trading. Their recent exploration change into lithium is what has give the company some additional exposure mostly due to the excitement that is surrounding lithium these days. At present the company has about 20 exploration licenses covering a total area of 1,505 square kilometres throughout the Pilbara, Ravensthorpe and the Mid-West region of Western Australia. The Company continues to expand its acreage under application and has one of the largest acreages prospective for hard rock lithium of any junior exploration company globally and is one of a few TSX-V listed companies to have projects acquired specifically for lithium in Australia.
The Company completed its first round of reconnaissance across a portion of the tenement package in the Pilbara and located a number of pegmatites which contain one or more visually identified minerals indicative of rare element Lithium-Caesium-Tantalum (LCT) pegmatites, such as beryl, lepidolite, cassiterite and tantalite. strategy is to apply for prospective acreage proximate to known lithium occurrences or where there are either, producing lithium mines or lithium mines under development. Consistent with this strategy, the Company has applied for acreage in the Pilbara region where Pilbara Minerals Limited (ASX: PLS) has its Pilgangoora lithium-tantalum project for which it recently raised A$100 million for further development and Dakota Minerals Limited (ASX: DKO) has its Lynas Find Project for which it recently raised A$12.3 million to conduct further exploration.
At present the company has about 100 million shares O/S and trading is active with daily volumes around 250,000 and more.
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