What is going on with AVLNF?
Avalon Advanced Materials (AVLNF) stock is lower today after the Canadian mineral development company gave an update on its Separation Rapids Lithium Project, as well as general market updates. Shares of AVLNF declined 0.91% to $0.131 as of Tuesday at 10:10am.
The Separation project is a bulk sampling program that was announced on February 1, 2021, at Avalon’s Separation Rapids lithium deposit in Kenora, ON. The company announced that the project had been completed successfully in April, and that a 5,000 ton sample had been extracted and is now in storage.
What does this mean for Avalon Advanced Materials?
AVLNF's lithium extraction comes at an opportune time for the company, with lithium prices continuing to rise globally, including in China. Technical and battery-grade carbonate prices having doubled year-to-date, and the price of technical grade lithium carbonate was up 114.3% and battery-grade material was up 103.4% since the start of 2021. The rise in prices will allow rare earth companies like Avalon to get maximum value for their inventory, as well as boost prices.
The company stated that it also plans to resume exploration work this summer on the western part of the Separation Rapids property where there are several other known lithium pegmatite fields that have never been drilled, and include potential for further discoveries. The plan is to define a number of drill targets to prepare for a drilling program in the fall.
AVLNF has an Overall Score of 24. Find out what this means to you and get the rest of the rankings on AVLNF!
Avalon Advanced Materials Inc is a mineral exploration and development company. It operates primarily in Canada with a focus on rare metals and minerals, including lithium, tantalum, niobium, cesium, indium, gallium, germanium, rare earth elements, yttrium, and zirconium. The company is currently focusing on its Nechalacho Rare Earth Elements Project at Thor Lake, Separation Rapids Lithium Project near Kenora, Ontario, and its East Kemptville Tin-Indium Project in Yarmouth, Nova Scotia.
