Stocks of the Hour: Lake Resources, Latin Resources, Noble Helium, Lithium Universe

Company News

by Abbey Phillipps

Lake Resources: Proven advances in DLE technology

Clean lithium developer Lake Resources (ASX: LKE; OTC: LLKKF) confirms that Lilac Technologies’ direct extraction technology has been proven successful through extensive field testing at the flagship Kachi project in Argentina. In response, Lake CEO David Dickson said, “this is a key milestone for DFS preparation for Phase 1 of the Kachi project and a major derisking of the Kachi project.” Shares are trading 6.25 per cent higher at 17 cents.

Latin Resources: Robust results for Colina lithium project 

Latin Resources (ASX:LRS) has announced solid PEA results at the Company’s 100% owned Colina Lithium Project located in Brazil. The company reported an after-tax NPV of A$3.6 billion, IRR of 132% and a total life of mine revenue of A$12.6 billion. Shares are trading 2.88 per cent lower at 25 cents.

Noble Helium: Rig up underway at Mbelele-1, North Rukwa Project

Noble Helium (ASX:NHE) reports that rig-up of Marriott Rig #16 is approaching the final stages at the Company’s North Rukwa Helium Project in Tanzania. In response, Noble Helium CEO and Co-Founder, Mr Justyn Wood, said: “We are applying over 20 years of very successful exploration experience throughout the East African Rift system to pinpoint locations for its accumulation in the subsurface – it is coming together and we are extremely confident.” Shares are trading 8.11 per cent higher at 20 cents.

Lithium Universe: Commencement of concentrator engineering study

Lithium Universe (ASX:LU7) announced that Primero Group has been appointed as the Concentrator Engineering Study Manager in relation to the design of a multi-purpose standalone concentrator. In response, Mr Iggy Tan, the Chairman of LU7 stated, “The design of the QLPH concentrator will be closely directed and supervised by the LU7 team of lithium experts. We know what we want to design and build, Primero will be executing our very specific plans.” Shares are trading 1.92 per cent higher at 5 cents.

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