Alpha Lithium Adopts Shareholder Rights Plan

Alpha Lithium Adopts Shareholder Rights Plan

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR   DISSEMINATION IN THE UNITED STATES

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1) (" Alpha " or the " Company ") is pleased to announce that the board of directors of the Company (the " Board ") has approved the adoption of a shareholder rights plan (the " Rights Plan ") pursuant to a shareholder rights plan agreement entered into with Computershare Trust Company of Canada, as rights agent (the " Rights Agent ") dated February 14, 2023 (the " Effective Date ").

The adoption of the Rights Plan is intended to ensure, to the extent possible, that all shareholders of the Company are treated fairly in connection with any unsolicited take-over bid or other acquisition of control of or a significant interest in the Company and to protect against acquisitions of control of the Company through purchases of common shares that are exempt from applicable Canadian take-over bid rules, also referred to as "creeping" take-over bids.

The Rights Plan is substantially similar to shareholder rights plans adopted by other Canadian issuers and the Rights Plan is not being adopted in response to any specific proposal to acquire control of the Company, and the Board is not aware of any pending or threatened take-over bid for the Company.

In accordance with the terms of the Rights Plan, one right (a " Right ") will be issued and attached to each common share in the capital of the Company (a " Share ") outstanding as of the record time under the Rights Plan. A Right will also be attached to each Share issued after the Effective Date in accordance with the terms of the Rights Plan. The issuance of the Rights will not change the manner in which shareholders trade their Shares and the Rights will automatically attach to the Shares with no further action by shareholders being required.

Subject to the terms of the Rights Plan, the Rights issued under the Rights Plan become exercisable only if a person (the " Acquiring Person "), together with certain parties related to such person, acquires or announces its intention to acquire beneficial ownership of 20% or more of the Shares without complying with the "Permitted Bid" provisions of the Rights Plan. Following a transaction that results in a person becoming an Acquiring Person, the Rights entitle the holders thereof (other than the Acquiring Person and certain related parties) to purchase Shares at a significant discount to the market price at that time. Under the Rights Plan, a " Permitted Bid " is a take-over bid that is made to all holders of Shares (other than the offeror under the take-over bid) and satisfies the following:

  • no Shares will be taken up or paid for under the take-over bid for at least 105 days following the commencement of the take-over bid or such shorter period that a take-over bid must remain open for deposits of securities pursuant to applicable Canadian securities laws;
  • no Shares will be taken up or paid for under the take-over bid unless, at the time of take-up or payment, more than 50% of the outstanding Shares held by shareholders other than the offeror (or any associate or affiliate of the offeror or any other person acting jointly or in concert with the offeror) have been deposited pursuant to the take-over bid and not withdrawn;
  • if, on the date specified for take-up and payment, the minimum tender condition described above is satisfied, the terms of the take-over bid will provide for an additional period of at least ten business days to permit any non-tendering shareholders to tender their Shares; and
  • the offeror agrees under the terms of the take-over bid that Shares may be deposited to and withdrawn from the take-over bid at any time before they are taken up and paid for.

The Rights Plan is subject to the acceptance of the NEO Exchange and, although the Rights Plan is effective as of the Effective Date, it is subject to shareholder ratification within six months of its adoption, failing which it will terminate. If ratified by shareholders within six months, the Rights Plan will remain in effect until the close of the 2026 annual meeting of shareholders.

The description of the Rights Plan in this press release is qualified in its entirety by the full text of the Rights Plan. A copy of the Rights Plan is available on SEDAR under the Company's profile. A summary of the Rights Plan will also be included in the management information circular of the Company prepared in connection with the next shareholder's meeting.

ON BEHALF OF THE BOARD OF Alpha Lithium CORPORATION

"Brad Nichol"

Brad Nichol
President, CEO and Director

For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
relations@alphalithium.com
www.alphalithium.com

About Alpha Lithium (NEO: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1)

Alpha Lithium is a team of industry professionals and experienced stakeholders focused on the development of the Tolillar and Hombre Muerto Salars. In Tolillar, we have assembled 100% ownership of what may be one of Argentina's last undeveloped lithium salars, encompassing 27,500 hectares (67,954 acres), neighboring multi-billion-dollar lithium players in the heart of the renowned "Lithium Triangle". In Hombre Muerto, we continue to expand our 5,000+ hectare (12,570 acres) foothold in one of the world's highest quality, longest producing, lithium salars. Other companies in the area exploring for lithium brines or currently in production include Orocobre Limited, Galaxy Lithium, Livent Corporation, and POSCO in Salar del Hombre Muerto; Orocobre in Salar Olaroz; Eramine SudAmerica S.A. in Salar de Centenario; and Gangfeng and Lithium Americas in Salar de Cauchari.

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the results of further brine process testing and exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.



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Tecpetrol Bid and Hombre Muerto Drilling Update

Tecpetrol Bid and Hombre Muerto Drilling Update

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") or the (" Company ") announces that TechEnergy Lithium Canada Inc., a subsidiary of Tecpetrol Investments S.L. (" Tecpetrol "), has advised that it has taken-up and acquired 102,692,615 common shares of Alpha, representing approximately 54% of the issued and outstanding Alpha shares, pursuant to its offer (the " Offer ") to acquire Alpha for C$1.48 in cash per share. Tecpetrol advises that they will pay for the tendered shares within three business days.

Tecpetrol has further advised that all the conditions to the Offer have been satisfied or waived (including the statutory minimum tender condition), and Tecpetrol has extended the expiry time of the Offer by a mandatory period of 10 days to 5:00 p.m. (Vancouver time) on October 31, 2023.

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TECPETROL ANNOUNCES SUCCESSFUL TAKE-OVER BID TO ACQUIRE CONTROL OF ALPHA LITHIUM CORPORATION AND MANDATORY EXTENSION OF OFFER TO OCTOBER 31, 2023

TECPETROL ANNOUNCES SUCCESSFUL TAKE-OVER BID TO ACQUIRE CONTROL OF ALPHA LITHIUM CORPORATION AND MANDATORY EXTENSION OF OFFER TO OCTOBER 31, 2023

  • Tecpetrol has satisfied the statutory minimum tender condition and has taken-up and acquired 54% of the issued and outstanding Alpha shares

  • Tecpetrol is extending the bid period for an additional 10 days in order to allow remaining minority shareholders to tender to the Offer so that they may promptly receive the offer price and cash-out their investment

  • Shareholders who have not already tendered are urged to do so immediately to ensure they receive the offer price as there can be no assurance that Tecpetrol will be able to timely complete a subsequent acquisition transaction (if at all)

  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email:   assistance@laurelhill.com   o   r visit https://www.tecpetrol.com/en/investors/alpha-lithium-offer for more information

Tecpetrol Investments S.L. (" Tecpetrol "), a member of the Techint Group, announces today that its wholly-owned subsidiary, TechEnergy Lithium Canada Inc., has taken-up and acquired 102,692,615 common shares of Alpha Lithium Corporation (" Alpha "), representing approximately 54% of the issued and outstanding Alpha shares, pursuant to its offer (the " Offer ") to acquire Alpha for C$1.48 in cash per share.  Tecpetrol will pay for the tendered shares within three business days.

All of the conditions to the Offer have been satisfied or waived (including the statutory minimum tender condition), and Tecpetrol has extended the expiry time of the Offer by a mandatory period of 10 days to 5:00 p.m. ( Vancouver time) on October 31, 2023 in order to allow the remaining minority shareholders to tender their Alpha shares to the Offer.  No further extensions are contemplated.

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Alpha Lithium Reminds Shareholders to Tender their Shares Before October 20th Deadline

Alpha Lithium Reminds Shareholders to Tender their Shares Before October 20th Deadline

  • Alpha recommends that Alpha shareholders tender their shares in advance of the October 20 th deadline.
  • Alpha's Board and Management have indicated to the Company that they intend to tender to the Revised Tecpetrol Offer.
  • PI Financial Corp. has confirmed that the Revised Tecpetrol Offer is fair to shareholders from a financial point of view.
  • Shareholders that have already tendered do not need to take any further action.
  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email: assistance@laurelhill.com or visit https://www.tecpetrol.com/en/investors/alpha-lithium-offer for more information.

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") or the (" Company ") is issuing a reminder to shareholders to tender their shares in advance of the Revised Tecpetrol Offer deadline of 5:00 p.m. (Vancouver time) on October 20, 2023 . Shareholders using a broker may have an earlier cut-off time.

To the knowledge of the Company after reasonable inquiry, as of October 17, 2023, each of the directors and officers of Alpha have indicated an intention to tender their shares to the Revised Tecpetrol Offer.

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TECPETROL REMINDS SHAREHOLDERS OF ALPHA LITHIUM CORPORATION TO TENDER THEIR SHARES BEFORE OCTOBER 20TH DEADLINE

TECPETROL REMINDS SHAREHOLDERS OF ALPHA LITHIUM CORPORATION TO TENDER THEIR SHARES BEFORE OCTOBER 20TH DEADLINE

  • The Tecpetrol Offer of C$1.48 in cash per share is the only offer to purchase all of the outstanding Common Shares that is currently open for acceptance by shareholders. No other binding offers have been received by Alpha.
  • The Alpha Special Committee and the Board of Directors have unanimously recommended that Alpha shareholders accept the revised and enhanced Offer from Tecpetrol and tender their shares.
  • PI Financial has confirmed that the increased Offer is fair to shareholders from a financial point of view.
  • Shareholders that have already tendered do not need to take any further action.
  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email: assistance@laurelhill.com or visit https://www.tecpetrol.com/en/investors/alpha-lithium-offer for more information.

Tecpetrol Investments S.L. (" Tecpetrol ") today issued a reminder to shareholders of Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") to tender their shares in advance of the Offer deadline of 5:00 p.m. (Vancouver time) on October 20, 2023 . Shareholders using a broker may have an earlier cut-off time and are urged to tender their shares immediately.

On September 28, 2023 , the Board of Directors of Alpha, based on the unanimous recommendation of the Special Committee and after receiving a positive independent fairness opinion from PI Financial Corp., publicly announced its unanimous recommendation that shareholders tender their shares to the enhanced Tecpetrol Offer of C$1.48 in cash per share. Since then, a significant number of shares have been tendered to the Offer. As previously disclosed, the Offer represents Tecpetrol's best and final offer to Alpha shareholders. No further extensions are contemplated .

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TECPETROL URGES ALPHA LITHIUM SHAREHOLDERS TO TENDER AS SOON AS POSSIBLE, FOLLOWING POSITIVE RECOMMENDATION BY THE ALPHA BOARD OF DIRECTORS AHEAD OF BID DEADLINE OF 3 OCTOBER 2023

TECPETROL URGES ALPHA LITHIUM SHAREHOLDERS TO TENDER AS SOON AS POSSIBLE, FOLLOWING POSITIVE RECOMMENDATION BY THE ALPHA BOARD OF DIRECTORS AHEAD OF BID DEADLINE OF 3 OCTOBER 2023

  • Alpha Lithium has announced its Board of Directors recommends that shareholders accept Tecpetrol's offer to acquire Alpha Lithium for a price of C$1.48 per share

  • Take Prompt Action – Alpha shareholders must tender their shares in advance of the expiry time of 5:00 p.m. on Tuesday , 3 October 2023

  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email: assistance@laurelhill.com

On 28 September 2023 Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha " or the " Company ") announced that its Board of Directors, based upon the unanimous recommendation of the special committee of independent directors and a positive fairness opinion from PI Financial Corp., recommended that Alpha shareholders accept the enhanced offer from Tecpetrol Investments S.L. (" Tecpetrol ") to acquire all of the issued and outstanding common shares of Alpha at a price of C$1.48 per share in cash (the " Offer "). Tecpetrol welcomes the Board's decision and urges Alpha shareholders to tender their Alpha shares immediately in order to crystallize a significant premium for their shares. All shares must be submitted in advance of 5:00 p.m. ( Vancouver time) on 3 October 2023 . We note that shareholders using a broker will have an earlier expiry and encourage shareholder to submit immediately.

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CleanTech Lithium PLC Announces Interim Results

CleanTech Lithium PLC Announces Interim Results

Interim Results for six-month period ending 30 June 2024

CleanTech Lithium PLC (AIM:CTL)(Frankfurt:T2N)(OTCQX:CTLHF), an exploration and development companyadvancing sustainable lithium projects in Chile for the clean energy transition, is pleased to announce its unaudited Interim Results for the six-month period ended 30 June 2024 ("1H 2024" or "the Period").

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Lithium Universe Ltd  Becancour Lithium Refinery - Preliminary Feasibility Study

Lithium Universe Ltd Becancour Lithium Refinery - Preliminary Feasibility Study

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce the results of its Preliminary Feasibility Study( PFS) for the Becancour Lithium Carbonate Refinery in Quebec, Canada. The PFS confirms the viability of a strong lithium conversion project, even within a below-average pricing environment.

Highlights

The Lithium Universe Strategy

- Positive, robust Becancour Refinery PFS even in low pricing environment

- LU7 has a counter cyclical strategy - develop project, ready for price recovery

- Closing the Lithium Conversion Gap - growth in resource and end market projects

The Financial Modelling

- Economically viable with excellent pre-tax NPV8% of approximately US$779M

- IRR (pre-tax) of approximately 23.5% and payback of 3.5 years based on;

- Price forecast of US$1,170/t SC6 and US$20,970/t for battery grade Li2CO3

- Current spot price is approx. US$775/t SC6 and US$10,680/t for battery grade LC

- Operating costs at around US$3,976/tonne; capital cost estimate of US$494 million

- Expected annual revenue of approx US$383 million and EBITDA of around US$147 million

- Project break even at around US$780 /t (SC6) and around US$14,000 per tonne LC

The Design

- LU7 offers a solution to worldwide lithium conversion failures and startup problems

- Using proven Jiangsu Refinery operating technology and lithium industry experience

- Producing up to 18,270 tonnes/year of green battery-grade lithium carbonate

- Smaller off-the-shelf style plant rather than large difficult-to-operate facilities

- Initial focus on lithium carbonate production - feed for LFP batteries

- Assumptions based on real operating data and experience - not new aspirant

The Location

- Quebec ideal trans-Atlantic lithium conversion centre, comparable to China

- Feedstock from Canada, Brazil and Africa - end market North America

- Critical cost benefits - cheap green power, transport mine/end market savings, US/Canada tariffs

- 95% GHG emission reduction with Hydro Quebec's green energy

Next Steps

- Offtake discussions with interested OEMs underway

- LU7 continues to progress full Definitive Feasibility Study

The Company plans to build a reliable, low-risk lithium conversion refinery with an annual capacity of up to 18,270 tonnes, utilizing proven expertise from the Jiangsu processing model. The facility will produce environmentally friendly, battery-grade lithium carbonate. The Company aims to establish a Canadianbased lithium chemicals business, purchasing spodumene feedstock from both domestic suppliers and international markets, including Brazil and Africa and producing a battery grade lithium carbonate product. This aligns with the Company's broader vision of contributing to the North Atlantic lithium supply chain and closing the Lithium Conversion Gap.

The project's economics are highly favourable, even with conservative price assumptions. The refinery is economically viable with a pre-tax Net Present Value (NPV) of approximately US$779 million, using an 8% discount rate, and a pre-tax Internal Rate of Return (IRR) of around 23.5%. The payback period is estimated at 3.5 years. The financial model is built on cautious price forecasts of US$1,170 per tonne for spodumene concentrate (SC6) and US$20,970 per tonne for battery-grade lithium carbonate equivalent (LCE). LU7's directors believe they have a reasonable basis for using the assumed price in the study of US$20,970 per tonne for battery grade lithium carbonate. Key operational assumptions include 86% plant availability and 88% lithium recovery. At full production capacity, the project is expected to generate approximately US$383 million in annual revenue, with costs totalling around US$236 million, leading to an annual EBITDA of approximately US$147 million and a gross margin of in the region of 38%. Post-tax, the NPV at an 8% discount rate is estimated at approximately US$501 million. The capital cost for the project is estimated at US$494 million, which includes a contingency of US$68 million. The capital cost estimate is based on advanced design specifications from the Jiangsu Lithium Refinery model, ensuring robust financial planning and projection. These factors highlight the project's strong financial viability, even under conservative pricing conditions.

MANAGEMENT COMMENT

Lithium Universe Chairman, Iggy Tan said "The successful completion of our Preliminary Feasibility Study is a significant milestone for the company, especially given that we only launched in August of last year. Early on, we recognized that bridging the lithium conversion gap in North America, leveraging our accumulated lithium expertise and the proven technology from Jiangsu, was a clear and strategic path forward."

"Our counter-cyclical strategy is centered on advancing projects during market downturns, allowing us to strategically position ourselves for growth as the market rebounds. We are dedicated to funding and constructing a proven, low-risk lithium conversion refinery in Quebec, marking the first step toward establishing Quebec as the lithium conversion hub for the Transatlantic region."

"The strong NPV and returns for the project indicate an economically viable project. We will be looking to secure strategic partners at the project level to help fund the project. There is significant interest from OEMs with spodumene offtake supply seeking conversion outside of China, and discussions are already underway. We are confident that the Becancour lithium refinery, with an annual capacity of 18,270 tonnes, will emerge as a leader in producing green, battery-grade lithium carbonate."

"The Company will advance quickly to complete a Definitive Feasibility Study and finalise offtake partnerships".

COUNTER CYCLICAL STRATEGY

Leveraging experience with cyclical movements in the lithium market, Lithium Universe utilizes a counter-cyclical strategy focused on developing projects during market downturns to strategically position itself as the market recovers. Although the recent oversupply of lithium has resulted in price declines, the Company remains confident in the strong long-term demand for lithium, driven by the growing electric vehicle (EV) and energy storage sectors. This ongoing demand underscores the need for continued investment in lithium mining and refining projects. LU7 believes that the current market conditions provide an optimal window for project development. With falling and depressed prices, less viable projects and weaker players have been cleared out of the market, leaving space for more robust and well-prepared companies. By advancing its Becancour Lithium Carbonate Refinery during this downturn, LU7 aims to be ready for a price recovery and capitalize on future growth, ensuring its plac in the evolving lithium market.

Over the past four years, lithium prices have experienced significant fluctuations due to the expanding electric vehicle (EV) market and increased demand for energy storage. From 2020 to early 2022, prices surged as supply struggled to keep pace with demand driven by the global shift towards cleaner energy. By 2022, lithium carbonate and hydroxide prices had risen over 400%, influenced by COVID-19-related supply disruptions. As of late 2023, prices have begun to stabilize due to new mining and refining projects. Although recent oversupply has led to price declines, long-term demand for lithium remains strong, necessitating continued investment in mining and refining.

The lithium market is currently undergoing a rebalancing phase due to oversupply and strategic production shutdowns by major producers. Companies and operations such as Core Lithium, Greenbushes JV, Mineral Resources, Albemarle's Kemerton and more recently, CATL's Yichun mine and Arcadium's Mt Cattlin have either slowed production or halted operations in response to recent price drops. Despite these supply adjustments, demand for lithium remains robust, particularly from growing EV sales in China. LU7 believes that prices are expected to recover to more sustainable levels over the next 12-18 months, although not reaching the unsustainable peaks of 2021-2022. This market rebalancing is essential for the sustainability of future lithium projects and the overall market. LU7's counter-cyclical strategy means developing a project during market downturns to benefit when the market recovers.

CLOSING THE LITHIUM CONVERSION GAP

Currently, over 90% of global LFP battery manufacturing is concentrated in China, but North America is rapidly expanding its capacity. Ford plans to build a $3.5 billion factory in Michigan with an annual capacity of 35 gigawatt-hours (GWh) by 2026, while Tesla is developing a facility in Nevada with a 10 GWh capacity focused on improving charging speed and energy density. LG Energy Solutions is investing $5.6 billion in Arizona to produce LFPs for energy storage systems and EVs.

By 2028, North America is expected to add nearly 1,000 GWh of battery manufacturing capacity, supporting the production of 10 to 13 million electric vehicles annually. Key states like Georgia, Kentucky, and Michigan will lead this growth. Canada is also investing in the sector, with partnerships from Volkswagen, Stellantis, and others, helping to secure its position in the global automotive market and meet the rising demand for EVs.

The Company estimates that 850,000t of LCE per annum will be required to satisfy demand in North America by 2028.

*To view the full details of the announcement, please visit:
https://abnnewswire.net/lnk/WY641GJW



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd

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CleanTech Lithium PLC Announces CEOL Update

CleanTech Lithium PLC Announces CEOL Update

Chilean Government prioritises Laguna Verde for CEOL

CleanTech Lithium PLC (AIM:CTL)(Frankfurt:T2N)(OTCQX:CTLHF), an exploration and development company advancing lithium projects in Chile for the clean energy transition, reports an announcement by the Chilean Government on the Expressions of Interest ("RFIs") process under which the Company made submissions in June 2024. This is part of the process for the awarding of a Special Lithium Operating Contract ("CEOL") to enter production

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GMV Minerals Inc. Completes Initial Drilling at Daisy Creek Project in Lander County, Nevada

GMV Minerals Inc. Completes Initial Drilling at Daisy Creek Project in Lander County, Nevada

GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that, pursuant to its news release dated September 10th, 2024, it has completed its initial drill program on the Daisy Project, located in Lander County, Nevada

The Company drilled five targets with 643m (2109 feet) of RC and tricone drilling. All holes intercepted various claystone horizons and claystone with felsic ash to lapilli tuffs with a distinctive trend towards more abundant claystone in the central portions of the caldera. Abundant alteration was noted in some drill holes with both oxidized and sulphide-bearing horizons observed.

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QX Resources Ltd  Secures Option to Additional US Lithium Brine Projects

QX Resources Ltd Secures Option to Additional US Lithium Brine Projects

Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) is pleased to announce that QXR has renegotiated the option agreement over the Liberty Lithium Brine Project in California, USA, to reduce option payments and also to include an option to acquire an interest in two additional prospective lithium brine projects in the USA.

- QXR and IG Lithium have agreed to restructure the Option Agreement in respect of the Liberty Lithium Brine Project to reduce option payments and also to include an option over two additional prospective lithium brine projects in the USA.

- QXR now has the option to acquire a 25% interest in IGL, the holder of the Liberty Lithium Brine Project, which reduces QXR's cash option payments from US$1.7 million to US$500,000.

- QXR has also entered into an option agreement with IGX Minerals LLC (a related company of IGL), granting QXR an option to acquire a 15% stake in IGX and which holds two prospective lithium brine projects in Nevada and Utah, USA.

- IGX and IGL continue discussions with US based producers of battery-grade lithium products in relation to the future supply of lithium brine products.

- QXR will update the market soon regarding planned activities over the gold projects in Queensland.

QXR had previously entered into an option agreement with IG Lithium LLC (IGL) to acquire up to a 75% interestin IGL, the owner of the Liberty Lithium Brine Project, as announced 5 October 2023 (Option Agreement). The parties have negotiated a variation to the Option Agreement, whereby QXR now has an option to acquire a 25% interest in IGL on or before 30 June 2025 (Variation Agreement). The restructuring reduces QXR's cash option payments from US$1.7 million to US$500,000.

QXR has entered into a further option agreement with IGX Minerals LLC (IGX) (an unlisted Delaware company established in 2022, and a related company of IGL) granting QXR an option to acquire a 15% interest in IGX on or before 30 June 2025 for US$500,000 (IGX Option). IGX has identified and secured two (2) prospective lithium brine projects in Utah and Nevada, USA, covering 10,660 hectares (26,300 acres). IGX and IGL continue discussions with US based developers and producers of battery-grade lithium products to potentially supply future lithium brine feedstock.

IGL and IGX have an excellent local US exploration team and contractors to ensure advancement of the projects.

Next steps include permitting for new drill sites at the Liberty Lithium Brine Project, targeting areas that are interpreted to be prospective to intersect deep lithium brines in the centre of the basin, further west of drilling previously undertaken by QXR (ASX announcement 19 June 2024). QXR is continuing its review of work conducted to date by IGX on their two projects, which indicate encouraging results in a favourable geological setting.

QXR Managing Director, Steve Promnitz, said: "QXR, through the new agreements, now has exposure to three large, prospective lithium brine projects, with reduced cash commitments, diversifying the portfolio. The lithium brine projects are located in the US market where demand continues for critical minerals and where downstream processors are still seeking supply options."

IG Lithium and IGX Minerals Member, Stephanie Ashton, said: "We recognize the valuable work that we have done together with QXR and are pleased to continue to consolidate and expand our joint efforts to find new critical supplies of upstream lithium brines for the rapidly expanding US battery industry.

To view the Key Commercial Terms, please visit:
https://abnnewswire.net/lnk/41U1J7MO



About QX Resources Ltd:  

QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia (WA), and gold assets in Queensland. The aim is to connect end users (battery, cathode and car makers) with QXR, an experienced explorer/developer of battery minerals, with an expanding mineral exploration project portfolio and solid financial support.

Lithium hard rock portfolio: QXR's lithium strategy is centred around WA's prolific Pilbara province, where it has four projects in strategic proximity to some of Australia's largest lithium deposits and mines. Across the Pilbara, QXR's regional lithium tenement package (both granted or under application) spans more than 350 km2.

Lithium brine: QXR drilling and geophysics indicate the existence of a large brine basin at the Liberty Lithium Brine Project USA and geological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada. QXR holds an Option to Purchase Agreement to earn-in to 75%.

Gold portfolio: QXR is developing Central Queensland gold projects through a 70% agreement with Zamia Resources Pty Ltd and also on a 100% basis. The gold and copper-gold-moly projects are strategically located within the Drummond Basin, a region that has a >8.5moz gold endowment.

Nickel sulphides: QXR has a significant 39% shareholding in unlisted public Australian company Bayrock Resources Limited, which has a portfolio of highly prospective battery minerals assets in Sweden, primarily in nickel, cobalt and copper. QXR is assisting Bayrock with project development and financing initiatives.

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Edison Lithium Files Technical Report for Sodium Brine Properties in Saskatchewan

Edison Lithium Files Technical Report for Sodium Brine Properties in Saskatchewan

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that it has filed a National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant Technical Report entitled "Alkali Mineral Dispositions, Saskatchewan" dated and effective September 17, 2024 (the "Report") under the Company's profile on SEDAR+ at www.sedarplus.ca. The Report was independently prepared by Lynn I. Kelley, P. Geo., and is also available on the Company's website at www.edisonlithium.com.

The Company, looking towards a clean-energy future, views sodium-ion batteries as having a place on the future energy landscape, and believes the sodium sulfate found in the alkali lakes of the Great Plains of southern Saskatchewan, as a highly-concentrated and readily-available source of sodium, may be a feasible source for production of some of the various sodium compounds required for battery production.

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