MILLENNIAL LITHIUM COM NPV (OTCMKTS:MLNLF) has added 80 cents in value so far year to date. MLNLF is up 55% over a five-day span. The stock is on the move and even had to release a statement saying they did not make any material changes that would boost the stock price warding off any ties to pumping.
MLNLF is in a hot market and is working in one of the peak areas for lithium around the world. In addition, the company finalized its deal for Pastos Grandes project in Argentina. Millennial Lithium President and CEO, Farhad Abasov comments: “We are very pleased that our work to date has advanced our Pastos Grandes lithium brine project on schedule and to the level of confidence that has enabled us to complete the full acquisition of these critical core properties. Our work is on track to deliver on our next significant milestones such as the NI43-101 resource report.”
MILLENNIAL LITHIUM COM NPV (OTCMKTS:MLNLF) at its Pastos Grandes flagship project the company has 4 drill rigs operating on the salar providing core samples and brine for analysis to support a maiden resource estimate planned for Q4, 2017. Holes PGMW17-06c and PGMW17-09 have been completed to depths of 571m and 595m respectively. Analytical results from brine samples are awaited. Core samples have been selected for drainable porosity or RBRC (Relative Brine Release Capacity) measurements and are currently being processed. Drills are currently turning at holes PGMW17-7d, PGMW17-8b, PGMW17-10 and PGMW17-11.
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In preparation for Millennial’s anticipated Preliminary Economic Assessment (PEA) the Company has engaged SGS-Lakefield (SGS) and Vector_Ausenco S.A. (Ausenco) to expedite advanced processing studies and environmental baseline tests respectively. SGS will oversee the Company’s ongoing on-site evaporation test work, where 16 trial ponds are now in operation. In addition, SGS will, through mechanical evaporation, create plant grade Li-rich (1-2%) brine from 600 litres of Pastos Grandes brine for use in purity (Mg, SO4, B removal optimization) trial test work to be done at Lakefield, Ontario.
Ausenco has been engaged to lead Millennial’s environmental baseline work at Pastos Grandes. Studies will include, but not be limited to, the documentation of flora, fauna, climate, air quality, archeological sites, hydrogeology, soil usage, a socio-demographic survey and ecosystem characterization.
The growing demand of lithium for the manufacturing of batteries puts MLNLF in an industry in which growth is expected over the next few years. The Company seems to have a sound strategy moving forward, however, its financial reports are not very conducive to aggressive expansion. The Company is yet to report its first dollar of revenue, has a weak balance sheet, and does not have the cash needed to fully capitalize on its expansion plans.
MILLENNIAL LITHIUM COM NPV (OTCMKTS:MLNLF) has a market cap of 104.57M with 53.63M in outstanding shares. MLNLF has a nice thing going in South America and has timed the lithium market at the right time. Electric vehicle makers are starving for the white gold to build more and more batteries. We will giving readers an update on this lithium pure-play soon. Sign up for continuing coverage on shares of $MLNLF 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 $MLNLF, either long or short, and we have not been compensated for this article.