Altura Mining Limited [ASX:AJM] shares have increased another 4% today. Currently trading at 0.39 cents, up from 0.37 yesterday.
It has been a great year for the lithium miners, with their share price 143.7% higher than this time last year.
Why the share price rise?
The current surge is due to the release of the S&P DJ Indices Quarterly Rebalance on 9 March. This revealed the addition of Altura Mining to the S&P/ASX 300 Index.
Followed by an update on the 13 March — stating that initial results from the infill drilling of the Southern Ridge area have delivered strong results.
Altura Managing Director, James Brown said:
‘This is a very positive start to our 2018 exploration program. The Southern Ridge is showing great promise and although the geology appears more complex, we believe it will allow us to further expand our reserve base and bodes well for the expansion studies that are nearing completion.’
What’s next for Altura Mining?
The company anticipates that the Southern Ridge has the potential to increase the Ore Reserve and Mineral Resource estimate of Altura’s Lithium Project. Which is currently on track for its first lithium sales in second quarter of 2018.
The project has a total of 41 holes, and the results for the first 17 were presented in the recent announcement. If these results are anything to go by, Altura has a positive year ahead.
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