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PURE SPECULATION: Robin Bromby | October 19 2009

Lithium hunting in Chile

THERE has been much excitement of late about lithium, and those stocks have seen a fair bit of interest.

One horse in this race to keep an eye on is Lefroy Resources (LEF) which set out to find uranium in northern Chile and instead came up with some interesting shows of lithium. Most of the big lithium discoveries in South America have been in lakes, where brine is evaporated (as in Bolivia and Argentina) but Lefroy's stuff is in hard rock.

The problem is that Lefroy is still wondering about the nature of mineralogy, and three labs are trying to crack that story. The company is excited. It thinks it may have a tiger by the tail.