Insights

2 ASX lithium shares lifting on new discoveries today

Why are these ASX lithium shares lifting into the green?
The post 2 ASX lithium shares lifting on new discoveries today appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Materials Index (ASX: XMJ) is lifting 1.11% today, but two ASX lithium shares are climbing higher.

The Lithium Australia Ltd (ASX: LIT) and Global Lithium Resources Ltd (ASX: GL1) share prices are in the green today.

Let’s take a look at what these lithium miners discovered today.

Global Lithium Resources

The Global Lithium share price is lifting nearly 4% today. Investors are buying up Global Lithium shares after the company reported new lithium-bearing pegmatite. This is at the Marble Bar lithium project in the Pilbara area of Western Australia.

Global Lithium said drilling results continue to show “significant” lithium mineralisation, including:

9 metres (m) at 1.32% lithium oxide and 59 parts per million (ppm) tantalum oxide from 46m in drill hole MBRC0364
8m at 1.26% lithium oxide and 40ppm tantalum oxide from 65m in drill hole MBRC0333

Commenting on the results, exploration manager Bryan Bourke said:

We now have a greater understanding of the geological setting and much sharper targeting models that have been developed throughout the year.

Lithium Australia

Lithium Australia shares are lifting 1.41% today following news from its joint venture with Galan Lithium Ltd (ASX: GLN). The company holds a 20% stake in the project.

The miner discovered new outcropping pegmatite with a more than 500m strike length at the project. A pilot ground geophysics program is also underway.

On Friday, Lithium Australia reported a cash balance of $4.8 million and share investments of $5 million.

The post 2 ASX lithium shares lifting on new discoveries today appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of July 7 2022

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

‘Great results’: Here’s why the Global Lithium share price is leaping 6% today
These 2 ASX lithium stocks are charging up on Tuesday

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Rebate Rewards

Level 2 Rebate

Deposit $2,000 and get $200 Rebate
$ 200 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $2,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $200 Rebate
Popular

Level 1 Rebate

Deposit $1,000 and get $100 Rebate
$ 100 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $1,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $100 Rebate

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here To Get Started
EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here For More Info