Why lithium stocks Wildcat Resources, Bubalus Resources and Venus Metals surged on Monday

Nick Sundich Nick Sundich, September 18, 2023

It was a good morning to be a shareholder of lithium stocks Wildcat Resources (ASX:WC8), Bubalus Resources (ASX:BUS) and Venus Metals (ASX:VMS). All 3 of these companies surged this morning, 2 due to exploration results and 1 due to a project acquisition.

 

What are the Best stocks to invest in right now?

Check our buy/sell stock tips

 

 

Bubalus Resources purchases a new WA project

A year on from listing, Bubalus Resources bought tenements prospective for lithium mineralisation in the Gascoyne Region of WA. The project, named Yinnietharra, lies just 2km east of the Malinda Prospect owned by Delta Lithium. The company intends to commence a surface sampling program in late September to identify drilling targets. Bubalus’ projects lie in the NT but are impacted by the wet seasons. So this gives shareholders something to look forward to.

 

Bubalus (ASX:BUS) share price chart, log scale (Source: TradingView)

 

Wildcat and Venus report solid exploration results

Wildcat Resources has existing ground in WA which it has recently begun drilling at. Initial assay results from its Tabba Tabba project included 85m at 1.1% lithium including 59m @ 1.5% lithium. This company told shareholders it expected continuing assay results in the coming month and it intended to deploy a diamond drill rig in early October to accelerate the evaluation of a new discovery.

 

Wildcat (ASX:WC8) share price chart, log scale (Source: TradingView)

 

As for Venus Metals, it recorded field sampling results at its Youammi project (also lying in WA). Rock sampling results were solid, up to 4.6% lithium. A drilling program is being planned to test the anomalies that the company has identified, although exploration is at an early stage here.

 

Venus Metals (ASX:VMS) share price chart, log scale (Source: TradingView)

 

But even though project purchases and field sampling are at earlier stages than drilling, finding a major deposit has to start somewhere. And if BUS and VMS do find a major deposit, this will have been the start of a major journey for shareholders.

 

Stocks Down Under Concierge is here to help you pick winning stocks!

The team at Stocks Down Under have been in the markets since the mid-90s and we have gone through many ups and downs. We have written about every sector!

Our Concierge BUY and SELL service picks the best stocks on ASX. We won’t just tell you what to buy – we give you a buy range, price target and stop loss level in order to maximise total returns. And we will only recommend very high conviction stocks where substantial due diligence has been conducted.

Our performance is well ahead of the ASX200 and All Ords.

You can try out Conciergefor FREE.

 

GET A FREE TRIAL TO CONCIERGE TODAY

 

There’s no credit card needed – the trial expires automatically.

 

 

Recent Posts

johns lyng group

Johns Lyng Group (ASX:JLG): One of a few ways to profit from climate change

Johns Lyng Group (ASX:JLG) is a restoration services company, repairing properties after damage by insured events, including weather and other…

hydrogen in australia

Hydrogen in Australia: Can we expect massive adoption in the next 10 years?

When will we see hydrogen in Australia? Not as a fad, not as an idea, but as a widespread energy…

Why is Gina Rinehart buying into Lynas

Why is Gina Rinehart buying into Lynas? She’s accumulated a stake worth over $300m

The big question on many investors’ minds this week is why is Gina Rinehart buying into Lynas? A substantial notice…