Since September 13, 2017, Advantage Lithium Corp. (CVE:AAL) shares have climbed on increased investor interest in the lithium space as well as positive drill results
SmallCapPower | November 3, 2017: Advantage Lithium Corp. (TSXV:AAL) shares seem to have strong momentum behind it, powering 125% higher in less than two months, to its current price of $1.10 a share, since SmallCapPower began coverage of the Company on September 13, 2017. Perhaps more importantly, trading volume has surged following October 24, 2017, averaging well over one million shares per day, with more than two million shares traded daily over the past three trading sessions.
Read: Advantage Lithium Has a ‘Winning’ Edge Over Most Lithium Juniors
On March 27, 2017, Advantage Lithium acquired a 50% interest in the Cauchari JV lithium exploration project in Argentina from Orocobre Limited (TSX: ORL), and will soon own 75% as Advantage is expected to spend the required US$5 million minimum by year end. In addition, AAL acquired 100% interest in five other lithium properties totaling over 81,000 hectares.
Advantage Lithium is led by CEO David Sidoo, who has proven he knows how to win. First, as a star football player that helped the University of British Columbia capture a Vanier Cup, which allowed him to play five seasons in the Canadian Football League. Then, as a successful businessman who was a top revenue generator at Yorkton Securities before becoming a founding shareholder of American Oil & Gas Inc. which was sold to Hess Corporation in 2010 for more US$630 million.
A significant catalyst for Advantage Lithium’s stock price has been increased investor interest in everything lithium since an announcement by China in late September of this year that the country is targeting to have five million electric vehicles on the road by 2020. Lithium is a key component in the batteries that power electric vehicles.
On September 20, 2017, Advantage Lithium announced initial test results from one of the three completed holes at its flagship Cauchari JV Project in Argentina. The preliminary pumping test consisting of 17 brine samples from Hole CAU10 in the SE sector returned an average lithium grade of 678 milligrams per liter (mg/l), with sample results ranging from 585 to 724 mg/l lithium2 and Mg/Li ratios averaging 2.1/1.
As well, on October 24, 2017, Advantage provided a progress update on its Cauchari JV drilling and pumping program, saying sampling from the CAU09 rotary hole averaged 662 mg/l lithium with a Mg/Li ratio of 2.2:1.
Watch: Advantage Lithium CEO Says Expect a Lot of News About Our Lithium Resource
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