Friday, April 29, 2011

Lithium Corporation on the move ( OTC: LTUM ) up 65 % ! Trade alert

Lithium Corporation
Lithium Corporation ( OTC: LTUM ) keep rising after morning gap up open and up 64 % by now. Traders have started positioning and unloading the stock. Stock has moved from $ 0.27 to $1.63 in 2 trading sessions, giving a well defined trading move for penny stock traders. New positions should be avoided and cutting the existing positions are advisable in the stock.

News behind the move was company has found lithium -enriched brines near surface on its Fish Lake Valley, Concentration was up to 140 mg/L. Also the brine was enriched in boron with a value up to 200mg/L and potassium with a value up to 7200mg/L. The highest values appear to be confined to an area approximately one-half mile square that is within a larger zone of moderate to highly anomalous lithium and boron, which is 1 ½ miles long by 1 mile wide.

Lithium Corporation’s president Tom Lewis recently remarked, “I am tremendously pleased by these results, and I am eagerly looking forward to drilling in this area when access conditions improve later this year.”

Lithium Corporation is currently conducting another round of geochemical surveys on its playa properties in Nevada, and has tentatively scheduled drill mobilization for June 01st to test its Cortez Lithium property in Lander County Nevada. In addition to drilling Fish Lake Valley and Cortez, Lithco also intends to drill its Salt Well’s property this year.


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