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Lithium juniors surge, gold lower

Canada-based lithium juniors provided a bright spot on markets yesterday.
Lithium juniors surge, gold lower Lithium juniors surge, gold lower Lithium juniors surge, gold lower Lithium juniors surge, gold lower Lithium juniors surge, gold lower

Canada-based junior Rock Tech Lithium was among the market risers

Staff reporter

Vision Lithium (TSXV: VLI) and Rock Tech Lithium (TSXV: RCK) closed up 100% and 69% respectively, both on no news.

Both had closed placements last week, with Vision raising more than C$800,000 for exploration and working capital, while Rock Tech raised almost $4 million towards feasibility studies on a lithium hydroxide converter and more development work on its Georgia Lake lithium project, plus working capital.

Rising lithium prices, which have prompted a note of caution, and upbeat sentiment around battery minerals are likely behind the gains.

At the top end of town, lithium major Albemarle fell 3.7% in New York to US$177.29 - however it remains near last week's one-year high and is more than double its share price of 12 months ago.

Key markets closed slightly lower and futures were down at the time of writing.

The gold price is slightly below its value of this time yesterday, around $1,844 an ounce on the spot market.

Gold miners were little changed in South Africa but Western Australia-based, ASX-listed producers Westgold Resources (ASX: WGX) and Perseus Mining (ASX: PRU) both lost more than 8% yesterday.

In Toronto, Northern Dynasty Minerals (TSX: NDM) rose 20.4% as it said Alaska would appeal the denial of a key federal permit for its controversial Pebble project.

Finally, Turquoise Hill Resources (TSX: TRQ) fell more than 18% on news of a proposed class action in Montreal, a continuing Oyu Tolgoi tax dispute and Mongolia's concerns about the mine's increased development costs.

The company said the government had indicated "if the Oyu Tolgoi project is not economically beneficial to the country, it would be necessary to review and evaluate whether it can proceed".