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An update from Lithium Plus Minerals Ltd. ( (AU:LPM) ) is now available.
Lithium Plus Minerals reported that Mining Lease ML 33873 for its Lei Lithium Project has been officially granted for a 20-year term, securing long-term tenure over the 4.09Mt at 1.43% Li2O resource and surrounding prospective ground. This marks a key de-risking milestone that allows the company to progress detailed mine design, scheduling, cost estimates, infrastructure and logistics planning, and downstream processing arrangements for its proposed low-capex DSO lithium operation near Darwin. During the Northern Territory wet season quarter, activities focused on desktop technical studies and advancing approvals, including ongoing work under the Supplementary Environmental Report pathway following the earlier submission of an environmental referral, with targeted studies on socio-economic, cultural heritage and water quality underway as part of a broader effort to move the project toward potential development and production. The company ended the quarter with a cash balance of A$1.78 million and also highlighted the successful ASX listing of Moonlight Resources Ltd, in which it has an interest, as part of its broader portfolio activity.
The most recent analyst rating on (AU:LPM) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on Lithium Plus Minerals Ltd. stock, see the AU:LPM Stock Forecast page.
More about Lithium Plus Minerals Ltd.
Lithium Plus Minerals Ltd. is an Australian exploration and development company focused on lithium and critical minerals, with its flagship Lei Lithium Project located on the Cox Peninsula in the Northern Territory, approximately 71.5 km by road from Darwin Port. The company is targeting a low-capital, direct shipping ore (DSO) underground mining operation, with ore to be crushed and screened on-site and exported for conversion into spodumene concentrate and then lithium hydroxide or carbonate in China.
Average Trading Volume: 105,490
Technical Sentiment Signal: Buy
Current Market Cap: A$23.25M
For detailed information about LPM stock, go to TipRanks’ Stock Analysis page.