Latin Resources Ltd (ASX:LRS, OTC:LRSRF) and Predictive Discovery Ltd (ASX:PDI, OTC:PDIYF) have been added to the S&P/ASX 300 Index as part of the March quarterly rebalance of the S&P/ASX Indices.
As a result of the quarterly review by S&P Dow Jones Indices, the changes will be effective prior to the opening of ASX trading on Monday, March 18, 2024.
Strong start to 2024
For Latin Resources being added to the S&P/ASX 300 Index continues what has been a strong start to 2024 with the promises of more strong news flow for the remainder of the year.
READ: Latin Resources uncovers major pegmatite discoveries pointing to lithium at Salinas Project’s Planalto prospect
In late January the company confirmed a third major spodumene discovery at its Salinas Lithium Project in Brazil, further bolstering its confidence of the potential to host a world-class lithium resource.
The discovery of Planalto has been confirmed by high-grade assay results from drill hole SADD223, some 1.8 kilometres southwest of the Colina mineral resource estimate (MRE).
Latin anticipates an update on its mineral resource estimate and definitive feasibility study (DFS) at Salinas in the second quarter of 2024.
In January, managing director Chris Gale said: “This past year has been a transformative period for our company. We have achieved significant milestones that not only reflect our commitment to excellence but also underscore our potential for future growth.
“2023 was a busy year for our Brazilian exploration team, resulting in a series of major upgrades and increases to our mineral resource of now over 70 million tonnes.
“We also published a very compelling PEA which detailed a strong $3.6 billion NPV with exceptionally low capex and operating costs."
Growing Bankan gold bounty
Predictive Discovery’s addition to the S&P/ASX 300 Index follows some promising results from drilling regional and near-resource targets at the growing Bankan Gold Project in Guinea.
READ: Predictive Discovery unearths promising results at regional targets across Bankan Gold Project in Guinea
The company intends to add to its current resource base of 5.38 million ounces with additional commercial gold deposits, with exploration currently focused around the Argo area, about 15-20 kilometres from the Northeast Bankan (NEB) and Bankan Central (BC) deposits.
Predictive is also targeting additional deposits close to the existing deposits, enhancing the operation centred there.
Overall, PDI drilled 131 holes for 9,355 metres, hitting promising gold results at the Sounsoun target near Argo, a new anomaly on the Argo South Trend and in near-resource drilling.
“Systematic exploration of the Bankan Gold Project’s significant upside potential will be ongoing with the aim of discovering additional economic gold deposits and growing the current 5.38-million-ounce resource,” managing director Andrew Pardey said.
All Ordinaries changes
The following companies have been added to the All Ordinaries Index, also effective prior to the open on Monday, March 18, 2024:
- Aura Energy Ltd (ASX:AEE, AIM:AURA).
- Alligator Energy Ltd (ASX:AGE, OTC:ALGEF).
- Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF).
- Firefly Metals Ltd.
- Ora Banda Mining Ltd (ASX:OBM).
- Strickland Metals Ltd (ASX:STK)
Removed from the All Ordinaries Index are:
- Aeris Resources Ltd (ASX:AIS, OTC:ARSRF).
- Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF).
- Galileo Mining Ltd (ASX:GAL, OTC:GLMGF).
- Highfield Resources Ltd (ASX:HFR).
- Race Oncology Ltd (ASX:RAC, OTC:RAONF).
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