ASX lithium shares are a hot topic among investors, but some get more publicity than others.
One share that appears to have soared steadily ahead on the market this year is Latin Resources Ltd (ASX: LRS).
Latin Resources stock has exploded 185.7% in the last year. In comparison, Core Lithium Ltd (ASX: CXO) shares have lost 17%, Pilbara Minerals Ltd (ASX: PLS) shares have soared 119%, Sayona Mining Ltd (ASX: SYA) shares have risen 25% and Lake Resources N.L. (ASX: LKE) shares have shed 72% in a year.
So why has ASX lithium share Latin Resources had such a stellar run in the last year?
Image source: Getty Images
What's the deal?
Latin Resources is exploring the Salinas Lithium Project in Brazil. The Colina Lithium Deposit at the project has a current mineral resources estimate of 13.3 million tonnes at 1.2% lithium oxide.
This ASX lithium share doubled from 10 cents at market close on 24 March to 20 cents at market close on Thursday.
Latin Resources stock also soared 100% between market close on 2 August and 24 August.
In December, Latin Resources had a rough patch, sliding nearly 36% between market close on 2 December and 29 December.
In April, Latin Resources advised the market it had received commitments for a $37.1 million capital raise. This provided the company with a $57 million cash balance to further the development of the Salinas Lithium Project.
Latin Resources then provided news in May that drilling confirmed lithium pegmatites at Colina extend more than two kilometres.
In June, Latin Resources informed the market that a resource upgrade at the Colina Lithium Deposit is "imminent".
Final significant intercepts from the drilling program have been received including 8.16 metres at 1.36% lithium oxide from 318 metres.
Further "highly anticipated" results from drilling will be reported to the market as they are received.
Commenting on the news, Latin Resources VP of operations Tony Greenaway said:
We are all eagerly awaiting the outcome of this process, as we believe that we will see a significant expansion in the JORC resource for Colina, given the exceptional results we have been seeing in our drilling this year.
Latin Resources is expecting to deliver the updated lithium resource update sometime in June.
Latin Resources share price snapshot
Latin Resources stock has soared 100% in the year to date and risen 18% in the last month.
This ASX lithium share has a market capitalisation of about $510 million based on the latest share price.
