The junior reported today that it had applied for 722 sq.km  of conglomerate prospective ground located 260km south of Karratha and surrounding Paraburdoo in the West Pilbara, Western Australia.

The result of this news was a near-40% jump in the company’s share price.

Southern Hemisphere features David Lenigas as its chairman, with Lenigas’ Artemis Resources and Canadian company Novo Resources the catalysts for the Pilbara gold rush.

Only a few months ago Southern Hemisphere entered the Pilbara region chasing lithium.

Backed by Euroz the company raised A$500,000 at the end of May to explore for lithium – with new shares issued at 8c each.

It started the current quarter with a mere $720,000 cash.

Shares in Southern Hemisphere were up 39% to 16c in late trade, capitalising the company at $12 million.