Much to the delight of its shareholders, the Kidman Resources Ltd (ASX: KDR) share price rocketed to an all-time high of 96 cents on Thursday.
This brought the fledgling lithium miner's six-month return to a whopping 117%.
Why are its shares higher?
Whilst the lithium miners in general are on fire at the moment as investors become increasingly bullish on long-term demand for the metal, Kidman recently announced that it had finalised and executed definitive agreements with Sociedad Quimica y Minera de Chile regarding the 50-50 Mt Holland Joint Venture.
Shareholders can now look forward to the two parties drawing on Sociedad Quimica y Minera's technical expertise and developing a world-class lithium refinery that will allow for production of both lithium hydroxide and lithium carbonate.
According to management, the outlook for the lithium market has never been stronger, and it views Mt Holland as the best undeveloped hard-rock lithium project in Australia.
