Voltaic Strategic Resources to Rebound with Cash-Backed Strength Following Meekatharra Results

Voltaic Strategic Resources Ltd (ASX: VSR) is certainly a company to watch, trading near cash-backing with $7 million in cash at the end of March 2024.

The company has a portfolio of projects, including lithium at the Ti Tree Project in Western Australia.

As part of a farm-in, Delta Lithium Ltd (ASX: DLI) can earn an 80% interest in Ti Tree through a $12 million two-stage earn-in arrangement over 4 years.

The deal provides Delta with the potential and scale to further enhance economics of its Yinnetharra Lithium Project which hosts 26 million tonnes at 1% lithium.

This allows Voltaic to have assets advanced at no internal cost, but still maintaining an interest.

Voltaic also has interests in uranium and rare earths through the Paddys Well project.

Finally, there is the Meekatharra Project, prospective for gold and base metals.

All this from a company that had a market cap just over $7 million this morning, with around the same in cash.

21% share spike

Shares in Voltaic have soared 21% to $0.017 in early trade, on very high volume.

Investors are now becoming more aware of this cash box.

Awakening the market today has been news from the Meekatharra Project, where rock chips have visually confirmed the presence of copper-gold mineralisation within structural quartz veins.

Quartz veins, often associated with structural features such as faults and shear zones, can act as conduits for mineralising fluids.

The Meekatharra project comprises seven granted exploration licences within a prolific gold precinct which has produced several million ounces historically.

 

 

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