How about a handful of the most notable lithium-based stocks to perform in May? (Yes, there were quite a few, lithium doubters). Read on\u2026\u00a0<\/p>\n
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May gain: 161%<\/strong><\/p>\n Errawarra Resources (ASX:ERW)<\/strong><\/a> made news earlier in May thanks to a touch of \u201cnearology\u201d amid a \u201cstacked pegmatite swarm\u201d discovery at its 100kkm2+ Andover West project in the Pilbara.<\/p>\n That\u2019s a highly prospective project about 40km east-southeast of Karratha, WA, and just south of\u00a0Azure Minerals\u2019 (ASX:AZS)<\/strong><\/a>\u00a0Andover LCT Pegmatite project (now owned by SQM\/Hancock).<\/p>\n ERW located a roughly 1.6km x 1km pegmatite swarm with a highly anomalous lithium soil trend that it notes has peak 325ppm Li2O. The pegmatites are stacked, low angle and north dipping.<\/p>\n A second strong, anomalous Li soil trend with a peak of 299ppm lithium was also been found.<\/p>\n Along with the Azure \u2018nearology\u2019 aspect, the soil trends are along strike and just 1.7km from\u00a0Raiden Resources\u2019 (ASX:RDN)<\/strong><\/a>\u00a0lithium pegmatite discovery that has reported 3.8% Li2O rock chip.<\/p>\n \u00a0<\/p>\n May gain: 156%<\/strong><\/p>\n Forrestania is primarily known as a lithium, nickel and gold hunter, but in mid to late May is was actually a diverstifaction into iron ore that pushed its share price into the double-bagging limelight.<\/p>\n The company has announced it\u2019s entered into an option agreement with shareholders of Netley Minerals to acquire 100% of issued shares in Netley, which is the holder of highly prospective iron ore tenements right next to\u00a0Mineral Resources\u2019 (ASX:MIN)<\/strong><\/a>\u00a0Koolyanobbing operations.<\/p>\n Potentially big for FRS, that, which enters into a three-month option period, in which the company will drill test several iron ore targets\u00a0<\/span>identified by Netley and its advisors.<\/span><\/p>\n The potential is there, with surveys and rock chip sampling\u00a0correlating with the\u00a0<\/span>geophysical trends, indicating mineralisation potential.<\/span><\/p>\n All else, including infrastructure \u2013 road, rail, port and service centres \u2013 lines up well.<\/p>\n<\/div>\n Meanwhile, the company lithium-hunting activities are reportedly still going strong, in particular its flagship, titual Forrestania lithium, nickel and gold project in WA, and also its Hydra lithium project in Quebec, Canada.<\/p>\n<\/div>\n<\/div>\n<\/div>\n \u00a0<\/p>\n May gain: 115%<\/strong><\/p>\n Perth-based minerals explorer Burley had a good month, which, can partly\/largely be put down to some significant capital raising that intends to pour into its most promising projects.<\/p>\n<\/div>\n It was an SPP (share purchase plan) affair that has resulted in an additional $1.3 million (before costs) stacking the coffers.<\/p>\n The funds will be allocated to progressing maiden drilling ops at both Broad Flat Well and Cane Bore Iron Ore Projects in the Hamersley Iron Ore Province, WA, as well as further exploration targeting on its Canadian Lithium Projects.<\/p>\n<\/div>\n \u00a0<\/p>\n May gain: 83%<\/strong><\/p>\n This minerals explorer has a focus on copper, gold, base metal assets and group two non-metallic minerals throughout Australia.<\/p>\n However, it\u2019s also active in exploring lithium projects located in Canada.<\/p>\n Why did it perform so well in May? We can\u2019t say that lithium was the specific driver here \u2013 recent positive gold drilling results and the acquisition of the Mundi Mundi fluorite project seems more the source of positivity.<\/p>\n That said, it has a strong battery metals narrative overall, and it maintains a strong presence in lithium hotspot James Bay in Canada, through its Hampden lithium project, not far at all from Patriot Battery Metals\u2019 (ASX:PMT)<\/strong><\/a> Corvette resource.<\/p>\n \u00a0<\/p>\n May gain: 67%<\/strong><\/p>\n PEC flexed pretty hard in May.<\/p>\n For some good context, Stockhead<\/em>\u2018s Jess Cummins narrowed in on Brazil\u2019s Lithium Valley activities (where PEC\u2019s focus lies) and dug deeply with this article:<\/p>\n This ASX explorer is looking to drill new pasture inside Brazil\u2019s booming Lithium Valley<\/a><\/p>\n Well worth a read, that, in which it covers nearology aspects of note (ie. Sigma Lithium\u2019s Grota do Cirilo project and Lithium Ionic\u2019s Banderia project) in relation to PEC\u2019s newly acquired, 12,000 hectare ground, where it\u2019s now kicked off maiden drilling at the Itinga project.<\/p>\n PEC, by the way, also operates the Beharra silica sand development project in WA about 300km north of Perth, and had some decent news regarding that.<\/p>\n Namely, a very healthy tax rebate from the Australian Government Department of Industry, Science and Resources, granting it an AusIndustry R&D tax incentive of $161,473.<\/p>\n The company says it\u2019s in recognition of its \u201cinnovative processes undertaken to explore additional impurity reduction at the Beharra high grade silica sand project\u201d.<\/p>\n This funding will be used to help advance the company\u2019s various exploration projects \u2013 which very much includes its lithium ventures.<\/p>\n \u00a0<\/p>\n As an addendum, this one caught our attention today so is otherwise worth noting.<\/p>\n Galileo Mining (ASX:GAL)<\/strong><\/a> may well prove to be a notable June lithium stock gainer after announcing some big news regarding a deal with none other than Aussie mining giant Mineral Resources (ASX:MIN)<\/strong><\/a>.<\/p>\n The company\u2019s wholly owned subsidiaries Norseman Resources and Ganymede Resources (together \u201cGalileo\u201d) have entered into a farm-in and JV agreement with a 100% owned subsidiary of MinRes.<\/p>\n Under this agreement, Galileo will, subject to the satisfaction of the completion terms, sell 30% of all lithium rights held by it on the Norseman tenement package for $7.5m cash consideration.<\/p>\n Galileo\u2019s MD Brad Underwood is excited. And he said as much, adding further context:<\/p>\n \u201cWe are excited to add a lithium exploration joint venture to our ongoing exploration programs for PGEs and nickel at our Norseman project [WA].<\/p>\n \u201cThe Norseman project has excellent lithium potential and is strategically located in the world\u2019s most prospective region for lithium. The project\u2019s outstanding location relative to existing infrastructure provides a short cut to development for any lithium resources discovered through the joint venture.\u201d<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post Eye on Lithium: ERW, FRS and these other ASX lithium stocks crushed it in May. Here\u2019s why<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Forrestania Resources (ASX:FRS)<\/strong><\/a><\/h2>\n
Burley Minerals (ASX:BUR)<\/strong><\/a><\/h2>\n
Coolabah Metals (ASX:CBH)<\/strong><\/a><\/h2>\n
Perpetual Resources (ASX:PEC)<\/strong><\/a><\/h2>\n
And one to watch in June \u2013 Galileo Mining (ASX:GAL)<\/strong><\/a><\/h2>\n