Arizona Lithium Shares Lift 3% upon Appointment of New CTO

By ,

With commodity markets still roaring, Arizona Lithium [ASX:AZL] is looking to capitalise.

The junior miner has announced the appointment of a new CTO today. It seems clear that management is hoping this move will accelerate their explorative drilling ambitions in the near future.

As for the share price, it is up 3.23% at the time of writing. But with a lot of swings in trading today, it has been a volatile session.

Let’s see what sort of bang for their buck investors are getting though…

New exec, new ambitions

As Arizona boasts in their announcement today, Brett Rabe will be joining their team.

It’s a big name for this small-cap to land, as Mr Rabe was the former VP of Engineering and Project Management at Lithium America Corp. The position saw him overseeing the Thacker Pass Project — the largest known lithium resource in the US.

For Arizona, which has its own ‘Big Sandy’ project, this was a big get. Particularly as Big Sandy is comparable in size and scope to Thacker Pass — making it an ideal decision to bring in Mr Rabe.

As Managing Director Paul Lloyd comments:

We are very pleased to welcome Brett to Arizona Lithium in the position of Chief Technical Officer. With his significant experience in engineering and project management at Lithium Americas Corp’s Thacker Pass Project, I’m confident that he’ll be able to contribute significantly towards the sustainable development of Big Sandy. Thacker Pass represents the most similar project to Big Sandy and, through Brett’s appointment, we’ll be able to apply his learnings to fast track the Project.

Now, though, attention will turn to future drilling of the site. Because as management confirms, they are still awaiting approval from the Bureau of Land Management for their permit of exploration.

Once they have secured that, then the real work can begin…

What’s next for Arizona Lithium?

Looking ahead, it’s clear that this junior miner is progressing steadily. They’ve got the right man for the right job, and they’re also wrapping up all the necessary paperwork.

With any luck, and provided their permit isn’t rejected, drilling will hopefully be underway soon. After all, that’s what investors are awaiting — a chance to get some solid data to discover how big this project could become.

But, until then, this tiny miner will remain a very risky and speculative pick — one that investors will need to be certain of before committing their capital to.

And if Arizona doesn’t take your fancy, well there are plenty of alternatives.

You can check out our in-depth lithium report — which includes three of our top stock picks — for a place to start. Get a free copy for yourself right here.

Regards,

Ryan Clarkson-Ledward,
For Money Morning

About Ryan Clarkson-Ledward

Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor…

Sayona Mining Share Price: $190 Million Raised to Restart NAL Operation

Lithium producer Sayona Mining [ASX:SYA] has raised $190 million via an institutional placement to restart its North American Lithium (NAL) operation in Quebec.

Telus Revokes Bid for Appen: Appen [ASX:APX] Shares Plummet 20%

Shares for Appen [ASX:APX] have fallen over 20% today, as Telus revokes its takeover offer.

NAB [ASX:NAB] Enters BNPL Market by Launching Afterpay and Zip Rival

Big Four bank National Australia Bank [ASX:NAB] announced it will launch its own BNPL product, entering a crowded market.

Nanosonics Share Price Flat on Business Update

Healthcare stock Nanosonics [ASX:NAN] announced a transition to a direct sales model in North America.

TechnologyOne [ASX:TNE] Shares Flat Despite Record H1 FY22 Profit

Enterprise SaaS stock TechnologyOne [ASX:TNE] has released its half-year results, notching its 13th year of ‘record first half profit’.

BrainChip [ASX:BRN] Shares Dip on Annual General Meeting

AI tech developer BrainChip Holdings [ASX:BRN] released its annual general meeting CEO and chairman’s address on Tuesday as shares dipped.