Lithium Plus Minerals share price surges again, up 266% in only 3 days of trading

A man flies into the sky over a city building-scape with a rocket jet pack sketched onto his back representing the Lithium Plus Minerals share price skyrocketing over its first 3 days on the ASXA man flies into the sky over a city building-scape with a rocket jet pack sketched onto his back representing the Lithium Plus Minerals share price skyrocketing over its first 3 days on the ASX

The Lithium Plus Minerals Ltd (ASX: LPM) share price ascended again today, just three days after joining the ASX.

The ASX lithium share has exploded in value, with its share price up 266% over those three days. It closed the session on Thursday at 91.5 cents, up 5.17% for the day.

Let’s take a look at what is impressing ASX investors.

New to the ASX

Lithium Plus Minerals started trading on the ASX on Tuesday. Shares were initially offered to the public at 25 cents per share. The company raised $10 million from this initial public offering (IPO) to commence explorations for lithium at key projects in the Northern Territory.

Lithium Plus plans an aggressive drilling program targeting a mineral resource estimate in the first quarter of 2023, an investor presentation reveals.

The company’s flagship project is Bynoe, located near the Finniss Project owned by Core Lithium Ltd (ASX: CXO).

The board is led by Dr Bin Guo, who is the executive chairman and founder of the company.

Commenting on the outlook for Lithium Plus Minerals, Guo said:

We are now simply excited to get started on aggressively exploring this world-class package of lithium ground.

More about Lithium Plus

Lithium Plus has 19 exploration licences approved across two areas, with three more on the way.

The company is working on five projects within these two areas. This includes Bynoe and Wingate within the Bynoe project area. And Barrow Creek, Spotted Wonder, and Moonlight within the Arunta project area. The Bynoe project is just 45km from the Darwin Port.

Lithium Plus had net cash of $10.34 million at the time of listing on Tuesday. Its market capitalisation is now about $84.39 million.

The post Lithium Plus Minerals share price surges again, up 266% in only 3 days of trading appeared first on The Motley Fool Australia.

Should you invest $1,000 in Lithium Plus Minerals right now?

Before you consider Lithium Plus Minerals , you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Lithium Plus Minerals wasn’t one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of January 13th 2022

More reading

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/UtpjEqW

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s