Basic Materials

Juniors on Radar: Explorers on the Move Today

Wed 27 Apr 22, 11:11am (AEST)

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Key Points

  • Predictive Discovery delivers another solid gold hit
  • Lithium Energy receives green light for exploration
  • Lithium Plus still trading higher after massive Wednesday debut
  • Queensland Pacific Metals snaps 6-day losing streak

The S&P/ASX 200 materials index is down -0.91% in early trade, in-line with the market's broad-based selloff.

2022-04-27 10 42 22-Materials (ASX Sector) LIVE DATA - Market Index
3-month chart of the S&P/ASX 200 materials index, with the ASX 200 shown in red

Company announcements 

#1 Predictive Discovery 

Predictive Discovery (ASX: PDI) rallied 13% (21 cents) in early trade amid another set of good hits at the Bankan Gold Project in Guinea

“These new results demonstrate the consistency of grade and mineralisation which evidently continues significantly beyond the bottom of the NE Bankan pit shell, further underpinning Predictive’s view that Bankan is potentially a Tier 1 gold mine in the making,” said managing director, Andrew Pardey. 

Upcoming catalysts: 

  • Planning of further extensional drilling (to be incorporated in the drill program in the current quarter)

  • Pending assays from regional power auger and aircore target definition programs

  • Accelerated drilling activity as a minimum of four diamond drill rigs are brought on site

  • Updated Mineral Resource Estimate in the September quarter

#2 Lithium Energy

Lithium Energy (ASX: LEL) has received government approvals to commence drilling and exploration activities at the Solaroz Lithium Brine Project in Argentina. The company's stock is up 11.6% ($1.12) in early trade.

"Allkem’s recent (April 2022) upgrade to their Olaroz Resource in concessions adjacent or nearby to those held by Lithium Energy has provided further support for the Company’s conceptual Exploration Target for Solaroz," noted executive chairman, William Johnson. The project neighbours Allkem's (ASX: AKE) Olaroz project.

Upcoming catalysts:

  • Geophysical surveys across all Solaroz concessions

  • TEM geophysics survey to commence in May to identify location and thickness of potential lithium-hosting brines

  • TEM to be followed by by a drilling program

    • Lithium Energy is currently in discussions with several local drilling contractors

#3 Lithium Plus Minerals

Lithium Plus (ASX: LPM) made its ASX debut on Wednesday, closing at almost triple its IPO offer price of 25 cents. The company’s stock is up 5.3% (74 cents) early trade. 

The lithium hopeful operates five projects within two highly prospective areas in the Northern Territory. This includes: 

Bynoe

  • Bynoe Project, which neighbours Core Lithium's (ASX: CXO) Finniss Project

  • Wingate Project, a known pegmatite district with limited historic exploration 

Arunta 

  • Barrow Creek Project, historic tin and tantalum production

  • Spotted Wonder Project, proven lithium mineralisation

  • Moonlight Project, within the Harts Range pegmatite field 

Lithium Plus hopes to undergo an aggressive drill program to deliver a substantial maiden resource in the first quarter of 2023. 

#4 Queensland Pacific Metals

Queensland Pacific Metals (ASX: QPM) is rallying off oversold levels, having fallen as much as -30% in the past two weeks. 

The nickel-cobalt-alumina hopeful released its March quarterly on Wednesday, with highlights including: 

  • Expression of interest for funding from Korean export credit agency, K-Sure

  • Binding contract for up to 1m wet metric tonnes of nickel ore per annum SLN

  • Various testwork milestones

  • Cash at end of quarter was $40.7m  

The company's stock has managed to snap a 6-day losing streak, up 5% in early trade.

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University and was Vice President of the University Network for Investing and Trading (UNIT). He is an avid swing trader, and drawn to breakouts and technical set ups. Outside of writing and trading, Kerry is a huge UFC fan, loves poker and bouldering.

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