市场见解

Why the Core Lithium (ASX:CXO) share price is jumping 6% today

The Core Lithium Ltd (ASX:CXO) share price is jumping on Thursday following the release of an announcement…
The post Why the Core Lithium (ASX:CXO) share price is jumping 6% today appeared first on The Motley Fool Australia. –

The Core Lithium Ltd (ASX: CXO) share price has been pushing higher on Thursday.

In morning trade, the lithium explorer’s shares jumped 6.5% to 24.5 cents.

Why is the Core Lithium share price jumping?

Investors have been buying Core Lithium’s shares on Thursday after the release of a positive announcement relating to the Finniss Lithium Project near Darwin in the Northern Territory.

According to the release, the company has defined an additional exploration target (ET) of 9.8 to 16.2 million tonnes at a grade of between 0.8 to 1.4% Li2O across seven different prospects. Management notes that the ET is supported by historical drilling, trenching, and exploration results.

However, it has warned that the potential quantity and grade of the ET is conceptual in nature. There has been insufficient exploration to estimate a mineral resource and it is uncertain if further exploration will result in the estimation of a mineral resource.

Nevertheless, Core is aiming to convert a high proportion of the ET at Finniss to mineral resources in 2021. Positively, it has received drilling approval from the state government for this area.

As a result, the company is preparing to start resource expansion drilling before the end of May. This will kick-off the most extensive exploration and resource drilling campaign in the company’s history.

Core’s Managing Director, Stephen Biggins, said: “Core has a clear pathway to achieve our goal of more than doubling resources and mine life at Finniss. Our recent acquisition deal is already bearing fruit, with wide and shallow pegmatites defined by historic drilling likely to add significant lithium tonnes to the Project in the near term.”

“Core’s exploration and resource drilling should provide a regular flow of news as we build the expansion potential and financeability of Finniss, and move into construction of Australia’s next lithium project later this year. It’s pretty simple maths to add the ET to our existing Mineral Resources to see where Core is headed, and our other well-funded exploration work ramping up at Finniss should add more tonnes on top of that,” he added.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

More reading

These could be the next up and coming ASX lithium shares

The Core Lithium (ASX:CXO) share price jumped over 11% today
Here’s why the Core Lithium (ASX:CXO) share price is shooting higher today

The post Why the Core Lithium (ASX:CXO) share price is jumping 6% today appeared first on The Motley Fool Australia.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

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!