Lithium Corporation (OTCMKTS:LTUM) Stock In Focus After Recent Development
Lithium Corporation (OTCMKTS:LTUM), which focuses on energy metals for the growing energy storage sector and high-tech industries, has announced on October 11, 2022, about a Controlled Source Audio Frequency Magnetotelluric (CSAMT) geophysical survey commencing on its San Emidio Lithium-in-brine prospect in Washoe County, Nevada.
Trading Data
On Tuesday, LTUM stock fell 0.86% to $0.1320 with 189.98K shares, compared to volume of 249.90K shares. The stock moved within a range of $0.1256 – 0.1363 after opening trade at $0.1326.
CSAMT Survey Commences on San Emidio Prospect
It has maintained a strategic alliance with Morella Corporation, which is its single largest shareholder for the past nine years, and also entered into a formal agreement with Morella with respect to earn-ins on the Company’s Fish Lake Valley lithium-in-brine prospect in Esmeralda County, and the North Big Smoky lithium-in-brine prospect in Nye County, Nevada.
Moreover, its optionee at the North Big Smoky (NBS) prospect, Morella Corporation recently completed a CSAMT survey and playa sediment geochemical sampling program on that property. Both geophysical surveys were supposed to start in November but the contractor, KLM Geoscience, was able to move up the schedule.
As per the terms of the North Big Smoky option agreement, Morella might get 60% interest in the NBS Project over a four-year period by conducting exploration and incurring expenditures relating to exploration and assessments, including associated resource and feasibility studies on the Project.
The expenditure requirement is to be no less than $1,000,000 USD in aggregate over the four-year period.
Traders Corner
LTUM stock is trading below the 50-Day and 200-Day Moving averages of $0.15 and $0.18 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.23.
