CAPITAL MARKETS

Lithium juniors surge, gold lower

Rock Tech Lithium among market risers

Staff reporter
 Canada-based junior Rock Tech Lithium was among the market risers

Canada-based junior Rock Tech Lithium was among the market risers

Vision Lithium (TSXV: VLI) and Rock Tech Lithium (TSXV: RCK) closed up 100% and 69% respectively, both on no news.

Both had closed placements last week, with Vision raising more than C$800,000 for exploration and working capital, while Rock Tech raised almost $4 million towards feasibility studies on a lithium hydroxide converter and more development work on its Georgia Lake lithium project, plus working capital.

Rising lithium prices, which have prompted a note of caution, and upbeat sentiment around battery minerals are likely behind the gains.

At the top end of town, lithium major Albemarle fell 3.7% in New York to US$177.29 - however it remains near last week's one-year high and is more than double its share price of 12 months ago.

Key markets closed slightly lower and futures were down at the time of writing.

The gold price is slightly below its value of this time yesterday, around $1,844 an ounce on the spot market.

Gold miners were little changed in South Africa but Western Australia-based, ASX-listed producers Westgold Resources (ASX: WGX) and Perseus Mining (ASX: PRU) both lost more than 8% yesterday.

In Toronto, Northern Dynasty Minerals (TSX: NDM) rose 20.4% as it said Alaska would appeal the denial of a key federal permit for its controversial Pebble project.

Finally, Turquoise Hill Resources (TSX: TRQ) fell more than 18% on news of a proposed class action in Montreal, a continuing Oyu Tolgoi tax dispute and Mongolia's concerns about the mine's increased development costs.

The company said the government had indicated "if the Oyu Tolgoi project is not economically beneficial to the country, it would be necessary to review and evaluate whether it can proceed".

 

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.