Noram Lithium Corp.
High-Grade Resources Boost Confidence
Published: 7/2/2024
Author: FRC Analysts

Sector: Basic Materials | Industry: Other Industrial Metals & Mining
Ticker Symbols:NRVTF - NASDAQ 🔹NRM.V - NEO 🔹
Rating and Key Data
Metrics | Value |
---|---|
Current Price | CAD $0.27 |
Fair Value | CAD $2.07 |
Risk | 5 |
52 Week Range | CAD $0.10-0.65 |
Shares O/S (M) | 89 |
Market Cap. (M) | CAD $24 |
Current Yield (%) | N/A |
P/E (forward) | N/A |
P/B | 3.0 |
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Report Highlights
- Noram has completed an updated resource estimate on its Zeus lithium project in Nevada. The property is adjacent to Albermarle’s (NYSE: ALB) Silver Peak mine, the only lithium producer in the U.S.
- The objective of the updated resource estimate was to improve upon previous data inputs, resulting in a more precise estimate, and delineating a high-grade portion for targeting in the initial years of operation. The revised estimate showed a 30% decrease in tonnage to 4.4 Mt LCE (lithium carbonate equivalent) at 927 ppm, mainly due to a higher cut-off grade of 525 ppm Li, up from 400 ppm previously. Despite the reduction in tonnage, we note that Zeus’ resources (both tonnage and grades) are comparable to other well-known large deposits in Nevada.
- A major highlight of the new estimate is the inclusion of a high-grade component totaling 1 Mt at 1,121 ppm. This portion alone has the potential for a mine life of over 40 y