23 Nov Resources Top 5: All aboard the lithium Armada!
“This is an exciting transaction for Armada as we diversify both geographically and into lithium, while remaining in the critical metals space,” chairman Rick Anthon says. “This area in Brazil is attracting significant exploration attention for the potential discovery of lithium-bearing pegmatites, with a number of other operators in the region and known occurrences.
ARMADA METALS (ASX:AMM) is refusing to be torpedoed by falling lithium prices, which are down around 75 per cent year-to-date.
That drop, incredibly, hasn’t dampened company or punter interest in the battery metal, with acquisitions, drill results and fun stories still sparking rerates at the more speculative end of the bourse.
AMM was a big winner on Thursday morning, after picking up four early-stage lithium exploration projects in the emerging hard rock hub of Brazil for $150k cash and 26 million shares.
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