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A few days after CATL’s Jianxiawo mine closure caused a run to Australian lithium majors and explorers, Battery Age Minerals (ASX:BM8) has flagged its Falcon Lake asset’s lithium assays – and the presence of rubidium, too.
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(HotCopper has had a commercial relationship with Battery Age Minerals in the past.)
The fairly obscure critical mineral rubidium being found on-site has ultimately helped to sell a polymetals story to the market.
While the company flagged fairly chunky lithium intercepts from its Falcon Lake asset on Thursday – two intercepts over 50m graded at 1.75% and 1.5% lithium respectively, along with other wideish hits – the company headlined its results with rubidium assays of up to 11,400ppm Rb.
Rubidium is, perhaps, the overlooked cousin of critical metals like niobium and, more recently, antimony. In the early-mid 2020s, rubidium was fairly common to spot across the small end of the ASX materials sector, particularly as COVID-era supply chain issues brought shortages of just about everything to the fore.
Since then, though, rubidium has been hard to spot on the boards – so too has the critical element scandium, which enjoyed a surge of popularity during the plague years.
But if Thursday is any indication, Battery Age Minerals is bringing rubidium back. And the market liked the news: shares were up +19% as lunchtime kicked off.
“The multi-element database review confirm we are defining not just a potential high-grade lithium system, but a project enriched in several critical metals that are in high demand globally,” BM8 CEO Nigel Broomham said.
Of course, that belies the real focus for BM8 – it’s still wanting lithium prices to go back up.
“With lithium prices showing signs of recovery, Battery Age remains strategically placed to recommence on-ground work at Falcon Lake as commodity markets continue to strengthen,” the company wrote.
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It may take a while longer. While Pilbara Minerals and a basket of other lithium players are having another green Thursday, the momentum from CATL’s Monday move won’t last. Now it’s up to swing traders to keep things going.
Case in point: Jianxiawo only supplies 3% of lithium globally.
BM8 last traded at 8cps.
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