Germany’s Chancellor plans lithium deal with Serbia after Rio ruling
Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry.
Toronto-based Aldridge Minerals’ (TSX Venture: AGM) stock rocketed 28% on Wednesday after announcing a resource update for its Yenipazar gold project in Turkey.
The Toronto-based company’s shares climbed to $0.54 on the Toronto Venture Exchange by the close giving it a market cap of $28 million. There was a frenzy for the micro-cap and 21 times the usual average of shares changed hands.
Highlights of the report estimate gold recovery at 92%, an indicated resource of 2.6 million gold equivalent ounces at 3.05 g/t and a tripling of the inferred resource.
The Yenipazar deposit holds gold, copper lead and zinc.
Aldridge says it’s aiming to finish with a feasibility study by the end of 2012.
The Yenipazar deposit is subject to an earn-in agreement with Alacer Gold, wherein Aldridge can earn a 100% working interest subject to certain conditions, subject to a 6% net profit interest until turnover hits $165 million, and a 10% NPI (revenues less operational costs) from there on.
