LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) is a micro-cap name that has started to engage some focus among traders and investors as prices get a little traction in bounce mode. LRTTF just announced reportedly “tremendous” results from its geophysical survey at its Pocitos West property in Argentina. However, interestingly, the stock has fallen sharply following those results. This is either a signal or an opportunity.
According to the report, LRTTF has detected a probable brine horizon extending throughout the entire 29 km length of Liberty’s mining property, suggesting the potential for lithium to exist beneath much of the Company’s 160 km2 licensed area. As suggested by its communications, the survey also indicates that the depth of the conductive horizon is as much as 150 meters thick in a number of target locations.
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 LRTTF just hit the wires with reportedly excellent results from its latest geophysical survey at its Pocitos West property in Argentina.
According to the release, the Company, through its operating partner Millennial Lithium Corp. (TSX VENTURE:ML) (FRANKFURT:A3N2) (OTCQB:MLNLF), conducted a Vertical Electrical Soundings survey which detects variations in subsurface conductivity. “As brine is highly conductive, it was the key subsurface target. Measurements collected at 11 stations along the 29 kilometer north-south extent of the tenements, based on comparative results with local and similar rock types bearing brines, indicates the possibility of a continuous, buried conductive horizon, contiguous with the salar lake beds. Thus, the entire 160 km2 of the property appears to contain subsurface brine, which suggests the potential for lithium mineralization throughout the property.”
Company CEO, Brad Nichol, states, “The entire team — in Argentina and in Canada — is thrilled with this result, which has exceeded everyone’s expectations and is the first step in confirming the possibility of extensive, buried salar sediments through much of our property. We had hoped to find ‘sweet spots’ within our tenement, but were delighted to learn the entire length of our property may contain brine; and correspondingly, lithium. The results, and proximity on-trend to known lithium brine production 25 km to the north of our holdings, suggests the potential for the continuation of lithium brine beneath much of our property.” Nichol adds, “We have immediately undertaken the required actions to obtain all of the necessary permits so that we can commence drilling as soon as possible. It’s also worth noting that the drill program is fully funded with cash reserves already in our treasury. Liberty is well positioned to leverage the three most important core values to our board and myself: location, team and capital management.”
Earning a current market cap value of $27.38M, LRTTF has virtually no cash on the books, which stands against 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%. As more color becomes clear on the name, we will review the situation and update our take. Sign up for continuing coverage on shares of $LRTTF stock, as well as our 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.