Thursday, July 7, 2022

LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) Stock Action Demonstrates Positive Expectations

LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) continues to take flight. The company has stacked up catalysts of late to keep the momentum rolling, the latest of which is its recent announcement that it has received the requisite environmental and drilling permits for its Pocitos West property in Salta Province of Northern Argentina. We know they have the approvals, and we know they can now finally get busy. But the interesting part of the story is that the market isn’t treating this as a sell-the-news result, which is often the case on drilling approvals.
After all, the market ran this stock higher into the announcement, so a positive signal from regulators was already “priced in” for shares. The fact that this is continuing to run suggests that the market is now moving on to pricing in good execution and strong output from drilling operations.
LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) bills itself as a company that is an emerging exploration player focused on the acquisition and development of high grade lithium brine deposits destined for use by global business interests. The Company believes that strategic resource access is the key to a robust energy strategy to protect economic stability worldwide.
Moreover, LRTTF engages in the acquisition, exploration and development of mining properties in Canada and the United States. The company primarily explores for lithium brine deposits. It holds interests in the Paradox North property with 233 placer claims covering 4,480 acres located in the Paradox Basin in Grand County, Utah, as well as an option to earn a 70% interest in the Pocitos West project covering 15,857 hectares located in Salta Province, Argentina.
According to company materials, “Liberty One Lithium Corp. is an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits. The Company believes that strategic global resources are the key to a robust energy strategy to protect economic stability worldwide.”
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As noted above, the company recently announced that it was granted the requisite permits to get drilling. The release also notes that the company has sufficient cash on hand to fully-fund its drilling program and it intends to commence drilling before the end of October. According to the release, the Company is currently organizing local logistics and support and has secured a drill rig that is known to have performed well in the past.
Company CEO, Brad Nichol notes, “We will start off with a sample hole in the southern segment of the property, drilling rotary only and packer sampling to identify brine and lithium. We will drill initially to 300 meters, stop to sample, and while awaiting expedited results, we will continue down to find basement or whatever might define a “bottom” to the brine section. We are looking for lithium content above 100 mg/L and if porosities range above 20%, as can be anticipated in a sandy aquifer, the size of the “storage space” within the horizon will be greatly expanded.”
Mr. Nichol concludes, “The team in Argentina has once again demonstrated their proficiency and expertise. Not only did they receive the necessary permits without any issues, they also successfully completed the analysis of the previously announced Vertical Electrical Soundings (“VES”) survey enabling us to choose some excellent drilling targets. I cannot understate the importance of having an experienced team in the field.” Nichol adds, “Almost all of the drilling equipment is prepared and ready to mobilize and, if all goes well, we expect to have the initial drilling concluded in time for Christmas. The VES survey suggested that we have a thick, extensive and contiguous brine horizon; the objective now is to drill to determine the quality and lithium content within that reservoir. Drilling these holes is a very exciting milestone for the Company.”
Now commanding a market cap of $34.1M, LRTTF has virtually no cash on the books, which is balanced by virtually no total current liabilities. LRTTF is pulling in trailing 12-month revenues of $34K. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -53.5%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $LRTTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $LRTTF, either long or short, and we have not been compensated for this article.

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