Stocks of the Hour: Midas Minerals, Riversgold, Lithium Australia
Midas Minerals (ASX:MM1) announced a pegmatite discovery returns up to 7.25% lithium oxide at the Reid-Aylmer Project. The Company will immediately apply for a drilling
permit on the tenements over the Argus pegmatite. Shares are trading 13.04 per cent higher at 13 cents.
Riversgold (ASX:RGL) announces that it has intercepted +100m wide gold at the Northern Zone Intrusive Hosted Gold Project located 25 km east of Kalgoorlie in Western Australia. In response, David Lenigas, Chairman of RGL, said, “with the Australian dollar gold price now pushing through $3,100 an ounce, the commerciality of these types of large-scale lower grade gold deposits becomes significantly more viable.” Shares are trading 7.69 per cent higher at 1.4 cents.
Lithium Australia (ASX:LIT) has entered into a binding agreement with Charger Metals (ASX:CHR) to offload their minority interest in the Lake Johnston Lithium Project. The largely unexplored Lake Johnston Greenstone belt now hosts multiple spodumene discoveries and with the recent focus and increasing exploration activity could evolve into a prominent lithium province. Shares are trading 3.57 per cent higher at 2.9 cents.