Stocks of the Hour: Lake Resources, Lithium Universe, Culpeo Minerals, Sunstone Metals

Company News

by Abbey Phillipps

Lake Resources (ASX:LKE; OTC:LLKKF) announced its Phase One DFS for its Kachi lithium brine project in Argentina. The project boasts a post-tax NPV8 of US$2.3 billion and an internal rate of return of 21%. The project targets annual average EBITDA of US$635 million and EBITDA margin of 76%. Shares are trading 11.54 per cent higher at 14.5 cents.

Lithium Universe (ASX:LU7) reports excellent progress of the Engineering Study by Hatch on the Company’s Québec Lithium Processing Hub multi-purpose battery-grade lithium carbonate refinery. The Refinery is rated at 16,000 tpa with an assumed feed grade of spodumene at or around 5.5% Li2O. Shares are trading 2.86 per cent lower at 3.4 cents.

Culpeo Minerals (ASX:CPO, OTCQB:CPORF) reported significant widths of visible copper mineralisation have been intersected at very shallow depth at the El Quillay Prospect, Fortuna Project Chile. The samples are to be dispatched for laboratory analysis, with assay results expected in January 2024. Shares are trading 50 per cent higher at 4.5 cents.

Sunstone Metals (ASX:STM) announce outstanding high-grade gold exploration results ~1km away from the Limon Central Shoot at its Bramaderos project in southern Ecuador. In response, Sunstone Managing Director Malcolm Norris, “such positive results early in an exploration program give you confidence that this will be large system with widespread gold and silver from surface.” Shares are trading 3.85 per cent higher at 1.35 cents.

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