Insights

Core Lithium (ASX:CXO) share price rebounds on positive update

The Core Lithium Ltd (ASX: CXO) share price has rebounded in late afternoon trade following an update at its Finniss Lithium Project.
The post Core Lithium (ASX:CXO) share price rebounds on positive update appeared first on The Motley Fool Australia. –

The Core Lithium Ltd (ASX: CXO) share price spent most of the day lower, before slightly rebounding during late-afternoon trade. This comes despite the company announced an update at its wholly-owned Finniss Lithium Project located in the Northern Territory.

At the time of writing, the emerging lithium producer’s shares are flat 24 cents.

What did Core Lithium announce?

According to its release, Core Lithium advised it has recommenced drilling operations at the Finniss Lithium Project. The diamond core drilling campaign kicked off this week, focusing on resource expansion drilling and exploration activity. A Reverse Circulation (RC) rig and Rotary Air Blast (RAB) rig is expected to commence follow-up drilling later this month.

Diamond drilling is a more efficient way for precise sampling and analysis, whereas RC drilling is used for extracting bulk samples. When it comes to speed, RC drilling is the faster method, however, diamond drilling is employed when seeking accurate results.

Rotary Air Blast drilling, also known as “down-the-hole drilling”, is an open-hole technique that employs a pneumatic hammer with tungsten “teeth” that chew away the rock surface. Debris is then blown up and out through the excess space surrounding the rod.

The company highlighted that this is the biggest lithium resource expansion drilling campaign in its history at the Finniss Project. It is projected that drilling operations will bring lithium rich pegmatites into spodumene resources in coming months.

In addition, Core Lithium noted that gold exploration activities are underway in the Northern Territory, at the Bynoe Gold Project. Early-stage geological mapping and geochemical surveys are currently underway before gold discovery drilling programs begin later this year.

Core Lithium managing director, Stephen Biggins commented:

We are excited to be recommencing fieldwork at the Finniss Lithium Project, this time being the most extensive exploration and drilling campaign we have ever conducted at our flagship asset.

We are confident that, through this program, we will be able to significantly upscale the lithium resources and mine life at Finniss, making Australia’s next lithium mine an even more attractive investment opportunity.

Core Lithium share price summary

It’s been an impressive 12 months for Core Lithium shares, rising by more than 450%. Year-to-date performance has also presented strong gains, up 60% in 2021.

Core Lithium has a market capitalisation of roughly $278 million, with approximately 1.1 billion shares on its registry.

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 more than eight 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.

*Returns as of May 24th 2021

More reading

ASX lithium shares are charging up today

Why the Core Lithium (ASX:CXO) share price jumped 7% today
Why the Core Lithium (ASX:CXO) share price is jumping 6% today
These could be the next up and coming ASX lithium shares

The post Core Lithium (ASX:CXO) share price rebounds on positive update appeared first on The Motley Fool Australia.

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.

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

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

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 indefinitely, 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.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!