Lithium is all the rage, NT juniors are listing across the world, Rio Tinto maintains yields and spruiks further dividends despite Ranger’s rehab cost prediction blowout, Empire announces Beetaloo increase but the market doesn’t appear to care, plus much more in this week’s Resource Wrap.

Australasian Metals Targeting NT’s Lithium-Based Portfolios

Australasian Metals (A8G) recently debuted on the Frankfurt Stock Exchange (FSE). The Northern Territory is home to a prospective lithium portfolio for the corporation. According to reports, investors are turning their attention to junior lithium exploration companies, which is good news for A8G as it continues to discover lithium mineralization in the Northern Territory.

The company said that by going public on the FSE, it would increase its shareholder base and get access to new funding markets. Australasian Metals’ ASX shares were up 3.7 cents to trade at 55 cents on its first trading day.

Askari Metals’ Mining Success at the Barrow Creek Lithium Project

ASX-listed junior explorer Askari Metals is enjoying early success at its newly acquired Barrow Creek Lithium Project or “BCL” in the renowned Arunta Pegmatite Province of the Northern Territory. Spontaneous sampling revealed rocks running at an encouraging 817 parts per million lithium-oxides. Emboldened by the confirmation of fertile Lithium-Caesium-Tantalum, or “LCT” pegmatites the diversified explorer is keen to accelerate its exploration program at BCL.

Empire’s resource boosted to 26 times Australia’s annual gas usage – market doesn’t care

Empire Energy have announced a 23 per cent increase of prospective resources at the EP187 block following the company’s 2021 Beetaloo work program. The increase from 3.5 trillion cubic feet (TCF) of gas to 4.3TCF increases the company’s total prospective Resources to 43 TCF plus 797 million barrels of condensate (mmbbls). By comparison, Inpex’s Ichthys field is estimated to contain 12TCF of gas and Australia’s total annual usage of gas is approximately 1.5TCF.

However, the market did not react to news with shares on the ASX on Tuesday closing at the opening price of $0.34 after reaching a high of $0.36 and low of $0.33.

NT Approved Continuous Mineral Exploration of Mosman Oil and Gas

According to Mosman Oil and Gas, the Northern Territory has approved applications for a suspension and extension of the work program affairs for the Amadeus basin license EP145. The work scheduled for permission under its third year has been prolonged for another 12 months until August 2023, according to statements from the company. The work requirements for subsequent permit years have also been extended by one year as a result of these changes.

Also as a result, considerable progress is being made in the development of helium and hydrogen exploration potential, as well as the previously discovered hydrocarbons in EP-145 on the West Walker anticline in the Northern Territory (a continuation of the Meerenie Anticline).

Carrara Range Project Procurement in the NT is in the Works

The Carrara Range project in the Northern Territory’s South Nicholson Basin is set to be acquired by Resolution Minerals (RML). A binding term sheet was agreed with Cientifica, a private firm, to purchase a 100 per cent stake in six tenements with a total area of 1271 square kilometers, with three granted and the other three within the application process.

Two tranches were set as payment; the first tranche requires Resolution to pay Cientifica $20,000 in cash and two million shares. Following the transfer of the tenements, a further seven million RML shares will be issued under tranche two, which is subject to ministerial clearance. The project is now being reviewed by Resolution to organize prompt groundwork actions.

Early next month, more information on the evaluation and exploration plans is expected to come to fruition. Manganese, copper, silver, lead, zinc, cobalt, and iron ore, are purportedly found in sediment-hosted battery metals in the Carrara Range Project as sightings show.

Rio dividends and forecast Surge regardless of ERA rehab blowout

Rio Tinto has maintained an 8 percent gross yield for half a year and forecasts a special dividend equal to its stock price. The positives for shareholders comes with high costs here in the NT. Rio Tinto is major shareholder of Energy Resources of Australia and has predicted its Kakadu National Park’s mine might cost up to $1.2 billion to repair, which was unanticipated and more than what had been projected. Energy Resources of Australia estimates that the rehabilitation process would last until 2028; hence it has advised that productive clean-up of mining operations be undertaken with a matching expenditure.

In a recent release, the company said that its ranger uranium mining operations in the Northern Territory would be able to accommodate and invest in efforts to achieve zero carbon emissions in its operations.

Elevate Announces More Exploration in NT

Elevate Uranium’s launched onto the OTCQX market. The exploration company with two prospective projects in the Northern Territory will now be able to trade the company’s ordinary shares in real-time in the US. However, Elevate will continue to rely on ASX as its principal trading venue.

Elevate Uranium has prospective projects Angela in the Amadeus Basin and Minerva in the Ngalia Basin south of Alice Springs.