Alpha Lithium Corp (OTCMKTS:ALLIF) stock is moving in a narrow range since the opening session. The stock has been consolidating over the past few weeks after correcting 30% from its 52-week high. Nevertheless, the stock is still up 65% over the past year.
Market Action
As of 1:11, ALLIF stock is unchanged to $0.6410 with more than 315K shares, compared to its average volume of 557K shares. The stock has moved within a range of $0.6300 – 0.6500 after opening the trade at $0.63.
Major Trigger:
Alpha Lithium Acquires New Property and Expands Second Core Area in Hombre Muerto Salar, Argentina
Key Highlights:
- Alpha Lithium announce that it is increasing its existing position in the Hombre Muerto Salar, Argentina. The Company has agreed to purchase a 100% working interest in an additional 287 Hectares in this world-class salar.
- Hombre Muerto houses one of the most desirable lithium brines in the world, rivaled only by the Salar de Atacama in Chile, primarily due to its high lithium concentrations, exceptional brine flowrates and minimal levels of impurities. It has attracted billions of dollars of investment from the likes of Livent Corporation, Galaxy Resources and Korean giant, POSCO, amongst others.
- The Company expects to build on this, and the first , acquisition in this world renowned salar. Hombre Muerto is the highest quality and longest producing salar in Argentina and it benefits from an extensive amount of infrastructure developed to support Livent Corporation’s 25 years of production history.
- Through a privately negotiated purchase and sale Agreement the Company has acquired a 100% interest in 287 Hectares – free of any 3rd party royalties – in the heart of the Hombre Muerto Salar. This latest acquisition brings the Company’s total to 4,087 Hectares.
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