Why is everyone suddenly talking about Delta Lithium shares?

Possibly nearing production, this ASX lithium share is now entering the spotlight.

Delta Lithium Ltd (ASX: DLI) is yet to be a household name in the industry, but that hasn't stopped it from receiving plenty of attention lately. This is evidenced by the Delta Lithium share price climbing 8% on Tuesday.

As the closing bell chimed, shares in the Western Australia lithium hopeful finished at 81 cents a pop. The stellar performance was one of the exceptions among an otherwise unremarkable day for companies involved with the electrifying commodity.

The anomalous excitement might be attributable to some whispers through the grapevine.

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.

Image source: Getty Images

Is a lithium rockstar buying Delta Lithium shares?

Daily trading volume in Delta Lithium has averaged around 4.76 million shares for the past month. According to reports, a parcel of 60 million Delta Lithium shares was exchanged late yesterday afternoon — more than ten times the recent average volume traded.

Most notably, the transaction was made at a significant premium to the market price. While the share price closed the day at 75 cents apiece, one insatiable investor was content paying 92.5 cents per share — 23% above the quoted price — equating to a $55.5 million trade.

Rumours are circulating that a big-name lithium miner could be behind the buy. Specifically, various reports suggest Mineral Resources Ltd (ASX: MIN) might be the interested party.

This wouldn't be out of character for the lithium giant headed by Chris Ellison. In the past, MinRes has taken stakes in other lithium mining companies, including Pilbara Minerals Ltd (ASX: PLS), before selling its holding in 2021.

More recently, Mineral Resources acquired a parcel in Global Lithium Resources Ltd (ASX: GL1). The lithium producer is also thought to be holding a position in Patriot Battery Metals Inc (ASX: PMT).

Explorer becomes producer

A drilling update released on 8 August is undoubtedly further spreading the word of Delta Lithium shares.

As stated in the announcement, the company's Mt Ida lithium project in the Goldfields region of Western Australia is on track for mining approval later this year. Management is targeting possibly kicking off operations before Christmas.

Delta Lithium executive chair David Flanagan said:

Mt Ida is the only lithium project in the current Western Australian mines department currently under consideration. It is going to be the next lithium mine in WA.

Such a statement hardly goes unnoticed.

The Delta Lithium share price has climbed an astonishing 80% in 2023.

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Materials Shares

A woman draws on a clear screen a graph that shows a falling horizontal line.
Materials Shares

ASX lithium shares take a hit amid 20% fall in lithium price

The lithium carbonate price has fallen nearly 20% over the past month.

Read more »

Two colleagues working with company financial results.
Materials Shares

Zimplats: September 2026 quarterly earnings

Zimplats reports steady progress on major projects despite a dip in quarterly output.

Read more »

A couple cheers as they sit on their lounge looking at their laptop and reading about the rising Redbubble share price
Materials Shares

PLS Group is making a $1.9 billion bet on lithium. Should investors follow?

I take a closer look at what this expansion could mean for shareholders.

Read more »

a female steel worker wearing a high visibility vest with her protective helmet tucked under her arm smiles as she carries a clipboard in a large warehouse of steel products.
Materials Shares

BlueScope upgrades first-half FY2027 earnings guidance

BlueScope has upgraded its 1H FY2027 earnings guidance, with underlying EBIT now expected to approach $1.1 billion.

Read more »

A small child in a sandpit holds a handful of sand above his head and lets it trickle through his fingers.
Materials Shares

Why have Lynas Rare Earths crashed 42% in 6 months?

The shares are also down 7% for the year to date.

Read more »

Two business men looking at financial data, charts, and graphs on a digital tablet and a laptop computer.
Materials Shares

Alcoa posts higher net income, sets sights on AliGroup completion

Alcoa reported third quarter 2026 results, with higher net income and progress on the AliGroup acquisition.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Materials Shares

Orora FY26 earnings: Cans strong, Glass under pressure

Orora's FY26 results show strength in Cans but ongoing challenges for Glass, including a substantial non-cash impairment.

Read more »

Three people at a building site discussing a plan whilst eating.
Materials Shares

Fletcher Building posts higher volumes in Q1 FY27, residential lags

Fletcher Building posted Q1 FY27 sales volume growth in several key business units, though residential activity stayed challenging.

Read more »