The world’s appetite for lithium has been hit with COVID-19 and uncertainty as to the volume of electric vehicles being sold. Which means the spot price of lithium – which is difficult to estimate in any event – has been dropping. Bad news for a lithium development company?
For the longest time, Cartier Resources (V.ECR) has been reporting high-grade gold from its Chimo Mine project. A couple of meters of +10 grams per ton (gpt) here and 16 gpt there. But it has never been the headline number for the Cartier press releases.
Cartier Resources’ (V.ECR) announcement of a revised 43-101 Resource Estimate with over one million ounces indicated and inferred at its Chimo mine in Quebec was not actually a surprise. CEO Philippe Cloutier told motherlodetv.net what the company was going to do back in February,
Nicole Brewster, Renforth Resources (C.RFR) put out a news release today announcing a pit constrained gold Mineral Resource Estimate for Renforth’s wholly-owned New Alger Property, located on the Cadillac Break, in Cadillac, Quebec, contiguous to the historic O’Brien Mine and the LaRonde Mine. This is the second pit constrained resource the company has announced in all of two weeks.