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Pilbara among market risers

A new Australian lithium producer and Canadian gold explorers are among the rising metals and mining equities.
Pilbara among market risers Pilbara among market risers Pilbara among market risers Pilbara among market risers Pilbara among market risers

Pilbara Minerals declares commercial production at its Pilgangoora lithium-tantalum project

Staff reporter

Pilbara Minerals (ASX: PLS) was up more than 7% in afternoon Australian trade after declaring commercial production, effective April 1, for its Pilgangoora lithium-tantalum project in Western Australia.

The company also announced a partnering process for stage three and the possibility of selling a minority stake in the project, to become a "fully integrated participant in the lithium raw materials and chemicals value chain".

In Toronto, where metals and mining stocks closed 0.44% higher yesterday, Wallbridge Mining Company (TSX: WM) was among the bigger market risers with a gain of 13.5%.

The uplift comes after reporting further gold results from its Fenelon property in Quebec this week.
Fellow Canadian company Mawson Resources (TSX: MAW) rose 9.5% after "entering Finland's BATCircle" - gaining R&D funding towards its Rompas-Rajapalot gold-cobalt project.
The gold price meanwhile has slid US$5 an ounce compared with this time yesterday and was about $1,310/oz on the spot market earlier.

Marex Spectron's Dee Perera said it was "a fairly lacklustre day for base metals" on the London Metal Exchange yesterday.

She said aluminium was the outperformer, touching a high of $1,919.50 per tonne, despite news of major producer Norsk Hydro agreeing to an assessment that could lead to its majority-owned, hamstrung Alunorte refinery in Brazil resuming full operations.