Stocks of the Hour: Ionic Rare Earths, Arizona Lithium, Charger Metals

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Ionic Rare Earths (ASX:IXR) announced today that construction at its Makuutu Demonstration Plant continues to progress well with first Mixed Rare Earth Carbonate on track to be produced in early Q1 2024. IXR Managing Director, Tim Harrison said “This plant at Makuutu is a key milestone for the supply chain engagement with product to be produced here likely to be sent to potential off-take partners in early 2024” Shares are trading 10 per cent higher at 2.2 cents.

Arizona Lithium (ASX:AZL) who are focused on the sustainable development of two large lithium development projects in North America, the Big Sandy Lithium Project and the Prairie Lithium Project, announced today that it has commissioned the pilot plant at its Prairie project in Saskatchewan. AZL is producing a lithium concentrate that will be sent to the Company’s Lithium Research Center in Tempe, Arizona, for further upgrading to high purity lithium end products, including high purity lithium carbonate. AZL Managing Director, Paul Lloyd, commented: “Having the pilot commissioned and operational is a significant milestone for our team, with brine being processed and lithium concentrate is being produced and sent to our Lithium Research Center in Arizona for further upgrading. Shares are trading 21.43 per cent higher at 3.4 cents.

Charger Metals (ASX:CHR) announced today that assay results from soil sampling completed earlier this year have identified several new lithium targets at the Mt Gordon tenement of the Lake Johnston Lithium Project, Western Australia. The results showed large expanses of the tenement are anomalous for lithium in soils. Charger’s Managing Director, Aidan Platel, commented: “The soil geochemistry results from our 100% owned Mt Gordon tenement are very encouraging. The size and strength of the lithium soil anomalies are significant, especially in the context of the successful Burmeister lithium discovery on the adjacent tenement which resulted from drilling of a lithium soil anomaly. Shares are trading 15.15 per cent higher at 38 cents.
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