ASX lithium share Delta Lithium Ltd (ASX: DLI) may not be a household name, but it appears it is attracting interest from billionaire investors.
Delta Lithium shares have soared nearly 37% year to date and 44% in the last month.
So what's there to know about this ASX lithium stock?
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Lithium miner
Delta Lithium is developing the Mt Ida Lithium Project in Western Australia.
Gina Rinehart's Hancock Prospecting and Mineral Resources Ltd (ASX: MIN), founded by Chris Ellison, have been buying shares in Delta Lithium, the Australian Financial Review reported.
Delta Lithium's chairman David Flanagan reportedly revealed this information at a mining conference on the Gold Coast.
The Mount Bevan magnetite project, of which Hancock holds a significant stake, borders Mt Ida's lithium project, the publication noted.
India's largest iron ore miner is speculated to be "closing in" on a lithium project with Rinehart, the Western Australian reported last week. India's National Mineral Development Corporation held meetings with lithium processors and toured Rinehart's iron ore mine, the publication noted.
Rinehart, who tops Australia's rich list, met with Indian Prime Minister Narendra Modi on Tuesday. Fortescue Metals Group Ltd (ASX: FMG) founder Dr Andrew Forrest also met with Prime Minister Modi to discuss green hydrogen.
Meanwhile, in an investor presentation last week titled "Resources Rising Stars", Delta Lithium advised the first year of lithium exploration at Mt Ida has delivered a 12.7 Mt resource and 6 new priority targets.
Extensional drilling at IDRD229W1 intercepted "substantial new mineralisation of 90.1 metres at 0.95% Li2O outside existing resources".
The company also discussed the Yinnetharra Lithium Project in the Gascoyne region of WA. Delta Lithium described this project as "one of the most exciting lithium exploration projects in Australia".
Commenting on this project, Delta Lithium said:
Delta Lithium are rapidly advancing the project to realise its true potential in alignment with the
company's 'speed to market' narrative.
Delta Lithium used to be known as Red Dirt Metals.
Delta Lithium share price snapshot
The Delta Lithium share price has risen 16% in the year to date and 18% in the past week.
This ASX lithium stock has a market capitalisation of about $293 million based on the latest share price.
