Red Mountain ready to commence drilling at Red Valley lithium project

By Trevor Hoey. Published at Mar 27, 2017, in Small Caps

Finfeed presents this information for the use of readers in their decision to engage with this product. Please be aware that this is a very high risk product. We stress that this article should only be used as one part of this decision making process. You need to fully inform yourself of all factors and information relating to this product before engaging with it.

Red Mountain Mining (ASX:RMX) advised the market on Monday morning that it was mobilising a drilling rig with a view to commencement of exploration at its Red Valley lithium brines project in the next 7 to 10 days.

The Red Valley project is located in Western Utah, USA. RMX is conducting a three x 1000 foot well program to test for commercial levels of lithium enriched brine.

This news comes only a week after the group advised that it was entering into a binding exclusivity and earn-in agreement with CoCu Metals which controls 100% of the Mokabe-Kasiri cobalt-copper project in the Katanga province of the Democratic Republic of Congo, Africa.

The project comprises 350 square kilometres of the prolific Central African Copperbelt, and lies only 50 kilometres to the north of one of the world’s largest copper-cobalt mines, Tenke Fungurume, which is currently owned by a consortium including Toronto-based Lundin Mining and Phoenix-based Freeport McMoRan.

The Red Valley project already provided RMX with strong exposure to the new energy metal thematic, but this has been strengthened further by its interest in the Mokabe cobalt-copper project.

As drilling recommences at Red Valley there is the potential for multiple share price catalysts to emerge given laboratory results from grab samples at Mokabe have registered average cobalt grades of between 1.6% and 2.9%, as well as copper grading between 1.3% and 9.2%.

Of course it should be noted that this is an early stage play with no guarantee of share price catalysts, so investors should take a cautious approach to their investment decision and take all publicly available information into account.

tags

COPPER

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X