Lithium Corporation (OTCMKTS:LTUM) is the New King of Collaboration

Very few small cap companies have experienced the level of ups and downs Lithium Corporation. (OTCMKTS:LTUM) has been through within the last few weeks. In the space of a few weeks, the price has fluctuated between a low $0.12 all the way to $0.48. Here, you will find the details behind the company and information what you can expect further down the line. LTUM Daily ChartFor those who may not be familiar with LTUM we have already covered all this information here in a previous article.Recent DevelopmentsA few months ago, the firm announced that announce that recently excavated a ''mini bulk'' sample at the itss BC Sugar flake graphite prospect in British Columbia. This sample has been submitted to SGS Lakefield's laboratory in Burnaby BC.Trenching on the prospect in the area of the ''Weather Station'' showing in 2015 intercepted a broad zone of mineralization with a core area of almost 30 meters where weathering was as deep as 8 meters subsurface, and average grades were 2.73% graphitic carbon. After establishing that weathered, easily extractable graphite mineralization exists on the property; the Company is looking to determine how amenable this material is to processing, and what the size distribution and other properties of these graphite flakes are. Typically larger, flat flakes that are purer tend to command a better price than those that are smaller, somewhat bent, and/or contain inclusions or impurities. This work is anticipated to take up to two months to complete, and will be summarized by a short report from the lab.Elsewhere in British Columbia, Lithium Corporation has ceased work on the Bormal option properties, and is currently awaiting final assay results from these exciting new Rare Earth Element/Tantalum-Niobium prospects. These results will include further assays from a zone discovered in July of this year where initial assays indicated Total Rare Earth Element (TREE) content was up to 0.75%.In August, the firm reported that it had received preliminary assays from its BC Tantalum-Niobium project. The work has primarily focused on the Yeehaw prospect where, due to it being geologically similar and logistically superior, the knowledge that can be gained fairly easily there can then be applied to the Michael prospect, making systematical exploration of that claim block considerably easier.Rock sampling at Yeehaw has indicated that the Coryell Syenitic intrusive host rock is considerably "charged up" with values of Niobium (as high as 111.78 ppm), Tantalum (as high as 7.8 ppm), Lithium (as high as 48.4 ppm), and Cerium (as high as 324 ppm), among other notable elements, all considerably anomalous. Of special interest - all samples of this Eocene aged intrusive were anomalous in Rare Earth Elements (REE's), with Total Rare Earth Oxides (TREO's) averaging over 0.5% from the samples taken from the intrusive rock, which underlies the majority of the Company's claim blocks in the area. This is notable due to the economic value of these elements. For instance, Neodymium Oxide - which is present on the property (average of all samples in intrusive 88 ppm) - was priced at $38,637 - $39,389 per metric tonne in July of 2016 FOB China. Presently, China enjoys an almost total monopoly on Rare Earth production, and any new economically feasible deposit of these elements that are critical for tech and defense applications in North America would find a ready market for its output.Work has been suspended here due to the fire bans enacted by the Ministry of Forests of British Columbia, where more than a million acres of forest lands have been consumed by fire this season, and a number of fires continue to burn. The Company is looking forward to cooler temperatures and is hopeful for a bit of rain so that we can continue to explore these exciting prospects.The firm’s permit application in support of the proposed trenching at the Company's BC Sugar property was approved in June by the British Columbia Ministry of Energy and Mines. LTUM is looking to ground truth frequency domain EM anomalies that resulted from a geophysical survey conducted in the area in 2015. Preliminary work consisting of access upgrade, prospecting, and a brief geophysical survey will be conducted shortly, with trenching to follow in the late summer 2017.Trenching on the prospect in the area of the "Weather Station" showing in 2015 intercepted a broad zone of mineralization with a core area of almost 30 meters where weathering was as deep as 8 meters subsurface, and average grades were 2.73% graphitic carbon. After establishing that weathered, easily extractable graphite mineralization exists on the property; the Company is looking to determine which areas on the property are most prospective for the development of larger deposits of this style of mineralization.Elsewhere, Lithium Corporation is continuing to work on its generative program for lithium-brine mineralization in Nevada, and is looking to commence work on its British Columbia Tantalum-Niobium properties shortly.Company FinancialsThe firm increased its asset portfolio between 2015 and 2016 by 34.9% largely due to an increase in cash at hand. This increased liquidity can assure investors that operations not likely to hamper from inability make payments. Especially when considering the huge increase in current liabilities from $7500 to $0.4 million between 2015 and 2016.The income statement revealed that expenditure on research and SGA also went up in the last year which may have contributed to the increased liabilities, an analysis which is supported by the statement of cash flows.ConclusionConsidering the number of agreements and partnerships LTUM has formed in the past year, it is clear the firm is taking steps in the right direction. The spike in its price is unlikely to be a one off.We will be updating our subscribers as soon as we know more. For the latest updates on LTUM, sign up below!Disclosure: We have no position in LTUM and have not been compensated for this article.