Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Ariana Resources - Deal Brings Australian Lithium Exposure

Published 03/02/2016, 09:34 AM
Updated 07/09/2023, 06:31 AM

While its Red Rabbit JV progresses the Kiziltepe mine towards first production in H216, Ariana Resources (LON:ARNR) has made strides towards involvement in the burgeoning lithium exploration space.

A deal has been completed between its 86%-owned Australian subsidiary Asgard Metals, Slipstream Resources Investments and ASX-listed junior Dakota Minerals, with the latter looking to develop a number of lithium-tantalum bearing tenements in the Pilbara region of Western Australia.

Although at the greenfield stage, the specific area in question (Pilgangoora) is currently operated on by a small group of junior miners (including Dakota), which are valued on an in-situ resource basis at approximately 2x the global average. This is perhaps an indication of value attributed to the relatively high grade of the deposits, but perhaps also due to the tantalum resource content, a much publicized conflict mineral.

Ariana Resources Chart

Funding complete to tackle phase 1 exploration

Dakota recently completed a total A$3.6m in funding, which will be used to undertake grassroots exploration (including structural mapping of the tenements) and drilling, with a maiden resource targeted for H216.

To read the entire report, please click on the PDF file below:

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.