MILLENNIAL LITHIUM COM NPV (OTCMKTS:MLNLF) Is A Lithium Runner

Did you see what happened recently with MILLENNIAL LITHIUM COM NPV (OTCMKTS:MLNLF)?The lithium miner captured the market's attention in October when the share price jumped from approximately $1.10 to touch the $1.90 share price level in less than 10 days. Have a look at it: 1 year chart for MLNLFBut, that's not all. The most interesting was the amount of volume registered on the exchange. More than 200 thousand shares changed hands some days, which shows how the market interest in the company increased during this period. We will provide more details in this article. 1 month chart for MLNLFBusiness Company LogoMLNLF was created on March 7, 2005 in British Columbia. It was initially called Redhill Resources Corp., but a name change was executed on June 24, 2016. The business objective is "to acquire, explore and develop lithium mineral properties and oil & gas resource interests."It is headquartered in Vancouver, British Columbia, Canada.Before we move on, let us highlight, for those who don't know, that the lithium mining sector is very popular nowadays. For what reasons? The increase in the manufacture of laptops, smart phones, electric vehicles and other devices is resulting into increase in the demand for lithium as their batteries need this mineral.As a result, mining companies researching and developing lithium resources are being pumped up recently. We encourage readers to read our articles about other lithium miners that are also delivering outstanding returns. It will help understand what's happening with MLNLF. Lithium Batteries from MLNLFWhat are their projects?Millennial acquired rights to operate in 4 areas in Argentina covering over 35,000 hectares. The following information was obtained from a recent presentation to the investors:

• PASTOS GRANDES (100%): covers over 8,664 hectares of the Pastos Grandes Salar, located 231 km from the city of Salta at an elevation of 3,800 metres.
• CAUCHARI EAST (100%): the Cauchari East project covers over 11,000 hectares in the Cauchari Salar, adjacent to and contiguous with Lithium America’s Cauchari Project and Orocobre’s producing Olaroz mine.
• CRUZ PROJECT (100%): the Cruz Project covers over 2,500 hectares of the northern portion of the Pocitos Salar. The project lies 11km south of ADY Resources Ltd's lithium brine resource in the Salar del Rincon.
• POCITOS WEST (100%): 15,857 hectares located on the west side of the Pocitos Salar, adjacent to Pure Energy Minerals.

They are located in the “Lithium Triangle”, wherein other international operators that we have also covered are developing lithium resources. Lithiums projects in ArgentinaAdditionally, the company also has oil & gas properties in Alberta, Canada, and has expanded into other lithium projects in the US.The company is in a stage of defining the resources, thus the amount of research has been extensive. In the annual report, it was said that the total amount of exploration and evaluation assets is equal to CAD$3,624,795.Recent DevelopmentsThere is a good point about this company that we need to highlight. It delivers a lot of communications to the market which is a big positive. We assess those news items that we consider most significant, but you can find them all on the company's website.On September 1, 2017, the company provided an update on the progress of the REMSA (the Salta Province, Argentina provincial energy and mining company) award of properties at Pastos Grandes. On August 24, 2017, it was highlighted that 2,492 hectares of claims had been given to Millennial. But, another company had filed an administrative appeal after losing the auction for the mineral resources.The following new information was given in the new press release:

"Following this, on August 29, 2017, the same party filed at a judicial instance for a protective action against the award of the REMSA Properties to the Company and a precautionary measure (the Appeal), this has temporarily suspended the signing of the final agreement with REMSA until a final judgment is passed as res judicata." Source

As the company noted, there seems to exist an "intense competition for lithium assets in Argentina and in particular for the highly prospective REMSA properties in Salta Province, which were awarded to Millennial Lithium." We appreciate it, as it shows that there is large demand for these assets and lithium resources.On September 14, 2017, more good news was released. The company had announced a public offering previously in August for an amount of CAD$5 million. In this new announcement, MLNLF noted that the offering was going to be increased to C$10,00,000. Warrants and shares will be sold.What's our take?We appreciated the announcement. It means that the company received interest in the offering from market participants. Thus, it decided to increase the offering. We believe that the market pushed up the share price after getting to know this new information.Additionally, in October, the new annual report and quarterly report were released, including new financial statements. We believe that the market also appreciated the new financial figures and reacted by pushing up the share price again. The balance sheet seems quite solid, have a look at it. These are the most significant accounts:

• Cash: $2.7 million
• Total Assets: $5.9 million
• Total Liabilities: $0.1 million

ConclusionCurrently trading with a market cap of $82 million, MLNLF is an exciting story among small caps. The stock has been on a tremendous run since we first covered it back in July. Overall, we don't see why this run shouldn't continue as there are plenty of tailwinds to drive MLNLF higher along with the rest of the lithium industry.We will be updating our subscribers as soon as we know more. For the latest updates on MLNLF, sign up below!Image courtesy of martinbradwell2011 via FlickrDisclosure: We have no position in MLNLF and have not been compensated for this article.