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Building The Pre-Eminent Vertically Integrated Lithium Business In Ontario, Canada
Financial Report For The Period Ending 31 December 2022
Green Technology Metals Limited (ASX: GT1) (GT1 or the Company), is pleased to present its Financial Report.
The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Green Technology Metals Limited (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2022.
Directors
The following persons were directors of Green Technology Metals Limited during the whole of the financial half-year and up to the date of this report, unless otherwise stated:
Mr John Young (Non-executive Chairman)
Mr Cameron Henry (Non-executive Director)
Mr Patrick Murphy (Non-executive Director)
Mr Robin Longley (Non-executiveDirector)
Principal activities
During the financial half-year the principal continuing activities of the consolidated entity consisted of Exploration and Evaluation activities in Canada.
Review of operations
Key highlights of the Company’s operations during the half year ended 31 December 2022, include:
Seymour Project
North Aubry
Diamond drilling has continued at the North Aubry lithium deposit with drilling results returned during the reporting period indicating intersections at North Aubry were shallower and thicker than originally modelled, increasing the mineralised volumes in the targeted strike and down dip extensions. Subsequent drilling at the Seymour Project will focus on the lateral extents of both the Aubry Complex and Pye Complex.
Pye
On-ground reconnaissance exploration at the broader Pye prospect (Pye Complex) has been successful in tracing pegmatite exposure north-south along its strike (Pye Eastern Limb) and culminating at the interpreted syn-form keel in the north. Field geologists have also navigated part of the Pye Western Limb in preparation for target reconnaissance, mapping and drilling.
Drill testing at Pye targeted the axial plane of the Pye syn-form as well as the western and eastern limbs of the syn-form where numerous alternating magnetic highs and lows suggest structural extension and the potential for pegmatite swarm inflows, as have occurred at North Aubry.
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This article includes content from Green Technology Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Field Work Extends Liwa Creek Gold Prospect; Samples 55 g/t Gold and 379 g/t Silver in Outcrop And Discovers Significant New Gold Zone
Thunderstruck Resources Ltd. (TSXV:AWE) (OTC:THURF) (The “Company” or “Thunderstruck”) is pleased to announce that ongoing geochemical sampling on the Liwa Creek gold prospect has expanded known targets and discovered a significant new gold zone.
The combined 2017 and 2018 prospecting and geochemical sampling programs at Liwa Creek have resulted in the discovery of multiple gold showings over a three-km, northeast-trending structural corridor that is open in all directions. The Company’s intensive exploration approach combining initial stream BLEG sampling, followed by ridge-and-spur soil sampling, and anomaly-focused prospecting has, and continues, to lead to new discoveries.
In particular, sampling programs have returned high-grade gold and silver assays over previously discovered zones and expanded those zones. In addition, a potentially significant new zone, featuring the highest-grade soil sample yet collected, has been discovered.
Brien Lundin, Thunderstruck’s Chairman stated, “Following up on the successful results from our Rama prospect, field work continues to expand our Liwa prospect as well. In combination with our Nakoro and Wainaleka VMS discoveries, it’s becoming obvious that our Fiji properties offer tremendous potential. We are excited about continuing to advance on all fronts.”
As detailed in the Appendix, prospecting and geochemical sampling programs at Liwa Creek have resulted in the discovery of multiple gold showings over a three-km, northeast-trending structural corridor that is open in all directions.
Two distinct styles of gold mineralization have been identified at Liwa Creek: narrow northeast-trending high-grade gold plus base metal veins lacking significant wall rock alteration typified by the Jensen’s Showing; and dominantly north-south trending wide zones of gold-silver mineralized quartz-sericite-illite-pyrite altered volcanic rocks such as those occurring at the Liwa Ridge Showing and possibly the newly discovered Lower Vatuvatulevu gold target.
The two styles of mineralization exhibit characteristics of sub-epithermal gold-base metal and intermediate sulphidation epithermal gold-silver veins, respectively. The classification is significant in that both deposit styles are interpreted to have close copper porphyry deposit association, with intermediate sulphidation veins being interpreted as shallow-level counterparts of deeper gold plus base metal sub-epithermal veins located alongside porphyry copper deposits.
Juxtaposition of relatively shallow high-level intermediate sulphidation gold-silver vein system and deeper sub-epithermal high grade gold veins is interpreted to indicate overprinting of early deep copper porphyry related high grade gold veins by relatively late high-level gold-silver mineralization. The Company believes this indicates the presence of a significant and long-lived hydrothermal system at Liwa Creek.
Lawrence Roulston, Thunderstruck Director, noted, “The methodical exploration program at Liwa continues to be very effective at outlining this extensive gold system under soil cover. On-going work continues to push out the limits in prospective areas. Liwa already has a footprint in line with major gold-bearing systems. The size and the gold tenor of this system are extremely encouraging, especially in this Pacific Ring of Fire setting that hosts multiple world-class gold deposits.”
Thunderstruck is advancing toward securing joint venture partners on its VMS and porphyry targets as it focuses on this highly prospective gold zone.
About Fiji
Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization. Liwa Creek is one of four projects, each of which is being marketed as potential joint venture opportunities. The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol “AWE” and United States OTCQB under the symbol “THURF”.
Qualified Person Statement
Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to the Liwa Creek Prospect.
During 2018 all stream sediment samples were submitted to Australian Laboratory Services Pty. Ltd (ALS) labs Perth for BLEG determination of gold. Auger soil samples were submitted for gold and multi-element geochemical analysis via a 25 gram (g) sample split subject ICP-MS. Prospecting and trench rock samples submitted for 30g gold Fire-Assay analysis and multi-element geochemistry by four-acid ICP-ES. Given the reconnaissance nature of the samples, Thunderstruck has relied on the external QA/QC of ALS which included the insertion of insertion of standard, blank and duplicate samples at a rate of 10% into the sample stream to confirm the accuracy of the reported results.
For additional information, please contact:
Rob Christl, Investor Relations
Email: rob@thunderstruck.ca
P: 778 840-7180
or, visit our website: https://www.thunderstruck.ca
APPENDIX – LIWA CREEK GOLD PROJECT EXPLORATION DETAILS
Rock Sampling
At Liwa Creek exploration was designed to follow-up and expand on broad trenched gold zones at the Liwa Ridge Showing (0.61 g/t gold over 71.3 metres; including 1.2 g/t gold over 26.5. metres); further develop the high-grade Jensen’s Showing (previous outcrop quartz vein rock grab samples returning 36 and 32 g/t gold from outcrop); and locate the source of widespread gold in float rock located within confined drainages of the Lower Vatuvatulevu Creek and Gun showing areas (see the Company’s February 13, 2018 news release).
Of the 55 current rock grab samples collected at Liwa, a total of 15 samples returned greater than 1 g/t gold or 10 g/t silver; and up to 55.2 g/t gold and 379 g/t silver (Table 1).
At the Jensen’s Showing two parallel, northeast trending, high-grade gold bearing quartz veins are exposed in the bed of Wainamoli Creek over a distance of 50 metres. The veins dip 60 to 80 degrees to the northwest and occur along the upper and lower contacts of an approximately 10 metre thick intrusive dyke cutting volcaniclastic rocks of the Wainimala Group.
Rock grab and small diameter backpack core drilling of the northern vein resulted in four (4) samples returning gold assays of 55.2 , 40.2 , 31.9, and 25.5 g/t gold (the later cored over a 0.22-metre true-width of the vein) with associated lead, copper and zinc values. Jensen’s Showing quartz veins are brecciated and contain massive to semi-massive galena, chalcopyrite and sphalerite with vuggy comb to crustiform banded quartz vein textures in association with sericite-illite host rock alteration. The Jensen’s south vein ranges in width from 0.1 to 0.5 metres in width and exhibits similar polyphase brecciated, anastomosing pinch-and-swell, comb and crustiform banded textures, with a total of 6 rock outcrop samples returning between 1.45 to 7.13 g/t gold.
Table 1: Liwa Creek Gold Prospect Significant Rock Grab Sample Results
Sample ID | Showing | Au (g/t) | Ag (g/t) | Pb (%) | Cu (%) | Zn (%) |
28028 | Jenson’s | 55.2 | 24.8 | 10.0 | 0.35 | – |
28014 | 40.2 | 19.4 | 1.85 | 0.39 | – | |
28003 | 31.9 | 21.8 | 0.99 | 0.34 | – | |
28021 | 25.5 | 27.8 | 0.94 | 1.42 | 1.94 | |
28015 | 7.13 | 13.4 | 0.65 | 0.12 | 0.63 | |
28004 | 4.62 | 8.3 | 0.36 | 0.3 | – | |
28002 | 4.14 | 8.2 | 0.34 | – | – | |
28013 | 3.33 | 7.1 | 0.17 | – | – | |
28029 | 3.24 | 8.9 | 0.24 | – | 0.29 | |
28018 | 1.82 | 11.7 | 0.61 | 0.1 | 0.16 | |
28017 | 1.45 | 5.7 | 0.23 | – | – | |
28010 | Liwa Ridge | – | 379 | 0.28 | – | 0.54 |
28009 | 4.53 | 9.2 | 0.36 | – | – | |
28027 | 0.85 | 13.0 | 0.1 | – | – | |
28007 | 0.30 | 36.2 | – | – | – |
A distance of 100 metres to the east of the main Jensen’s discovery outcrops a rock grab sample of silicified and comb textured quartz veined Wainimala Group volcanic breccia rocks returned 4.62 g/t gold.
Rock outcrop and subcrop float grab sampling within Liwa Creek at the northern extent of the Liwa Ridge Showing, 800 metres west of Jensen’s, returned 4.53 g/t gold and 379 g/t silver (the highest silver assay to date at Liwa Creek), respectively, from silica-flooded and quartz stockwork veined intrusive.
Soils
A total of 141 additional ridge-and-spur aguer soil geochemical samples were collected Liwa Creek. Sampling was designed to isolate potential source zones to the northeast of the Jenson’s gold zone, and widespread gold in float rock recovered within the Lower Vatuvatulevu Creek and Gun showing areas.
Auger soil sampling within the Lower Vatuvatulevu Creek area resulted in the discovery of a significant new gold zone. Prior stream BLEG and prospecting float rock grab sampling within this small 400 x 400 metre drainage returned anomalous gold values. Current soil sampling along the southern ridge resulted in 8 soils collected over a 160-metre interval returning greater than 20 ppb gold, and up to 2,480 ppb gold (2.48 g/t gold) in soil. The result is four times greater than any previous soil sample collected on the project (643 ppb gold from the Liwa Ridge Gold Zone 1.5 km to the west). The five highest soils samples returned 707, 804, 894, 1050 and 2,480 ppb gold. The orientation of this newly discovered gold zone is presently not known. An aggressive follow-up via intensive prospecting, hand trenching and expansion of ridge-and-spur aguer soils to the south is warranted.
In addition, soil sampling along the Gun Showing ridge returned isolated anomalous gold values including 336 ppb and 82 ppb gold, which warrant additional follow-up sampling and prospecting.
Trenching
Hand excavated trenching at three locations (GT1, GT2, and GT3) totaling 29 metres within the Gun Showing area was designed to follow up on previously reported anomalous gold in soil values of 65 and 82 ppb gold (see the Company’s February 13, 2018 news release). Trenches were excavated to a depth of 1 metre into the subsoil, however competent outcrop was not reached in any of the trenches. Trench GT3 returned 0.2 g/t gold over 2 metres from 0 to 2 metres; and 0.17 g/t gold over 3 metres between 8 and 11 metres. Trench GT2 returned 0.12 g/t gold over 2 metres; in addition to silicified and veined float rock grab samples recovered during excavation that returned 0.44, 0.20, and 0.15 g/t gold; including 4.5, 6.2 and 9.6 g/t silver, respectively. Trench GT1 did not return significant values.
Stream BLEG Sampling
Completion of stream BLEG geochemical sampling in the Noda Creek drainage designed to evaluate the potential southern extension of the north-south trending Liwa Ridge Gold Zone. Of the 23 Noda Creek stream BLEG samples collected a total of 13 samples returned greater than 20 parts-per-billion (ppb) gold and are considered anomalous. A stream BLEG collected from the Noda Creek headwaters at the southernmost known extent of the Liwa Ridge gold zone returned 93 ppb gold. This sample represents the highest gold in stream sediment value returned form the Project to date, and underscores the potential to expand the Liwa Zone southward.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements”. Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements.Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck’s management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Figure 1
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2901/40686_
Source: www.newsfilecorp.com
Livium Awarded ~A$850k Grant by WA Government to Develop a Battery Recycling Facility
Livium Ltd (ASX: LIT) ("Livium" or the "Company") is pleased to announce that its wholly owned subsidiary Envirostream Australia Pty Ltd ("Envirostream") - which is leading Australia's battery recycling industry - has been awarded a -AS850k grant from the Western Australia ("WA") government. This funding will be used to support the development of Envirostream's battery recycling facility in WA, marking a significant milestone in Envirostream's efforts to build a nationwide solution for electronic waste ("e-waste") management.
HIGHLIGHTS
- Livium has been awarded a -A$850k grant from the Western Australian government
- The grant will be used to partially fund the development of a battery recycling facility in WA
- This grant is being awarded under the WA government's electronic waste infrastructure grant funding program
- The development of a WA recycling facility is aligned with the Company's strategic objective of developing nationwide collection, sorting and storage capabilities
The grant will be used to establish a cutting-edge battery sorting and dismantling recycling facility ("WA Facility"). The WA Facility, will focus on the collection, sorting, discharge and storage of batteries. Batteries will then be transported to Envirostream's Campbellfield facility for final processing to Mixed Metal Dust ("MMD") and other metals. The WA Facility is expected to play a pivotal role in transforming Envirostream's collection capabilities and service footprint across the country.
The award of the grant follows a rigorous evaluation process by the WA government, who noted the quality, innovation, and potential impact of the WA Facility. The WA government recognises the value it will bring to the community and acknowledged Envirostream's dedication and commitment to making a positive difference. The grant is subject to entering into a funding agreement with the WA government and customary due diligence checks, which is materially complete.
This grant forms part of the WA government's broader commitment to e-waste recycling and is part of recently announced A$5.4m in additional grants allocated to support e-waste recycling initiatives across the state. To date, the WA government has allocated -A$10m in grants to boost the local e-waste recycling industry. This commitment underpins the importance of sustainable recycling infrastructure in WA and aligns with the Company's objectives to drive environmental progress across Australia.
The development of this recycling facility is a core component of Livium's strategic recycling roadmap. This roadmap envisions a comprehensive national network for battery collection, sorting, and recycling that establishes integrated end-of-life battery processing domestically.
Comment from Livium CEO and Managing Director, Simon Linge
"This grant from the WA government represents a meaningful step forward in our mission to establish a sustainable national battery recycling ecosystem.
WA's grants seek to increase e-waste reuse, storage, collection, processing and recycling capabilities, creating jobs and supporting WA's circular economy. We are grateful for the support and are committed to building a facility that will contribute to a greener future by efficiently managing e-waste and recovering valuable materials. The Company's long-term recycling strategy also involves the development of battery processing capabilities in WA and other states once minimum collection volumes are met.
By fostering local recycling capabilities, we aim to strengthen Australia's position in the global battery recycling industry and contribute to a circular economy."
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This article includes content from Livium Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Total Voting Rights
In conformity with the Disclosure Guidance and Transparency Rules ("DTRs") of the Financial Conduct Authority (the "FCA"), CleanTech Lithium, an exploration and development company advancing lithium projects in Chile for the clean energy transition, announces that as at the date of this announcement the Company's issued share capital consists of 167,889,592 ordinary shares of 1p each with voting rights (the "Ordinary Shares").
The Company does not hold any Ordinary Shares in treasury and accordingly the total number of voting rights in the Company is 167,889,592.
The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's DTRs.
For further information contact: | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. www.ctlithium.com
Entitlement Issue Prospectus
Lithium Universe (ASX:LU7) presents this entitlement issue prospectus.
For a pro-rata non-renounceable entitlement issue of 1 Share for every 10 Shares held by those Shareholders registered at the Record Date at an issue price of $0.012 per Share, together with 1 free New Option for every 1 Share applied for and issued to raise up to $982,696 (based on the number of Shares on issue as at the date of this Prospectus) (Entitlement Offer).
This Prospectus also includes the Secondary Offers, which are set out in Section 2.2. The Secondary Offers and the Entitlement Offer are together referred to as the Offers.
IMPORTANT NOTICE
This document is important and should be read in its entirety. If, after reading this Prospectus you have any questions about the Securities being offered under this Prospectus or any other matter, then you should consult your professional advisers without delay.
The Securities offered by this Prospectus should be considered as highly speculative.
IMPORTANT NOTICE
This Prospectus is dated 1 November 2024 and was lodged with the ASIC on that date. The ASIC, ASX and their respective officers take no responsibility for the contents of this Prospectus or the merits of the investment to which this Prospectus relates.
No Securities may be issued on the basis of this Prospectus later than 13 months after the date of this Prospectus.
No person is authorised to give information or to make any representation in connection with this Prospectus, which is not contained in this Prospectus. Any information or representation not so contained may not be relied on as having been authorised by the Company in connection with this Prospectus.
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This article includes content from Lithium Universe, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Lithium ION Energy Signs LOI with United Rare Earths, for a Business Combination
Lithium ION Energy Limited (TSXV: ION) (FSE: ZA4) ("ION" or the "Company") is pleased to share that it has entered into an LOI Agreement to progress a business combination with United Rare Earths Ltd. ("UnitedRE"), a US-based rare earths recycling and refining company. UnitedRE secured a strategic location to develop and has significantly advanced discussions with a federal agency for grant opportunities which includes non-recourse, non-dilutive funding. UnitedRE has support at the highest levels of the government and an instrumental MOU with a national laboratory that will advance rare earth recycling and refining technologies in the U.S.
Highlights:
- Cutting edge technology with a clear path to creating a low-carbon, domestic supply of rare earths to the US, leveraging non-recourse funding;
- Rare earth elements required for military applications and essential in the production of motors needed for the energy transition related to electrification - a complementary strategic transaction;
- Lithium continues to play an irreplaceable role in the energy transition and ION's assets will be at the ready to fill this requirement; and
- Strong combined management teams with deep relationships across government, technology, capital markets and mining.
"I am delighted to announce this major development with respect to becoming an integral player in the critical metals space. We believe completion of the proposed business combination will catapult ION Energy into a diversified battery and critical metals player on the global market. We believe strongly in our Lithium assets and the sheer scale and potential UnitedRE brings is compelling to achieve the vital objective of a cleaner, secure, traceable future for humanity," said Ali Haji, CEO & Director - Lithium ION Energy Ltd.
Jeffrey Willis, Chairman of UnitedRE, commented, "We are excited to announce this strategic step forward with ION Energy, marking a pivotal moment for both organizations. By aligning our resources and expertise with ION Energy, we are creating a foundation for accelerated growth and innovation. This partnership enhances our capability to deliver on our shared mission to establish a sustainable, resilient supply chain to power renewable technologies and the electrification movement. Our collective efforts, grounded in a shared vision, will empower us to meet the growing demand for rare earth materials, securing the supply chain for America's future."
Convertible Debentures:
To support this new development for the Company, ION Energy is also pleased to announce a non-brokered private placement offering of convertible debentures of the Company ("Debentures") at a price of US$1,000 per Debenture for aggregate gross proceeds of US$ 2,000,000 (the "Offering"). The Debentures will mature 24 months from the date of issue (the "Maturity Date"), carry an interest rate of 8% per year and will be convertible to common shares at a conversion price of $0.10 per share. In the event the 10-day volume weighted average price of the common shares of the Company exceeds $0.15 or more on the Toronto Stock Exchange, the Company will have the right to accelerate the conversion of the shares.
Proceeds of the Offering will be used to complete the business combination with UnitedRE and develop its rare earth recycling and refining technology, for the continued advancement and exploration of the Company's lithium assets, as well as working capital.
ION Energy expects the proposed business combination will constitute an "expedited acquisition" under the policies of the TSXV. Completion of each of the proposed business combination and the Offering remains subject to the approval of the TSXV.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 65,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
About United Rare Earths Ltd.
United Rare Earths, Inc, a U.S. owned company, is dedicated to a domestic approach to the acquisition, refining, and distribution of magnet and rare earth minerals. UnitedRE is developing a domestic rare earths hub in northeast Tennessee. Operations will include a magnet recycling facility, a separation facility for newly mined materials and a technology center of excellence. The mission is to create a secure, reliable and traceable supply of rare earth minerals to support new and existing domestic based technologies.
In addition to an MOU with a national laboratory to assist with development, design planning and R&D optimization work, UnitedRE has also obtained a team of world-class advisors such as EY (Ernst & Young): research and strategy, King & Spaulding LLP: legal counsel, and Brownstein Hyatt Farber Schreck: government policy.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
COMPANY CONTACT: Jeffrey Willis jkwillis@unitedre.com, 307-287-6227
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including with respect to the proposed business combination and the Company's operations after completion thereof, and other words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, including with respect to the entering into of the proposed business combination with UnitedRE and the Company's operations after the completion thereof. Important factors that could cause actual results to differ materially from ION Energy's expectations include, among others, regulatory approvals, the ability to negotiate and implement definitive agreements with respect to the business combination, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and the ability to predict or counteract other factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Quarterly Report Highlights
Strong Preliminary Feasibility for Bécancour Lithium Refinery
Lithium Universe Limited (‘LU7’) is pleased to present its Quarterly Activities and Cash Flow Report.
The Lithium Universe Strategy
- Positive, robust Bécancour 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
- 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 Li2CO3
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
- Québec 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 Québec’s green energy
Next Steps
- Offtake discussions with interested OEMs underway
- LU7 continues to progress full Definitive Feasibility Study
LU7 forms Committee with W8BANAKI
- Formation of committee with W8banaki to progress Bécancour Lithium Refinery
- Collaboration with W8banaki to assist with site impact assessment
- W8banaki Nation traditional land custodians of Bécancour Industrial Park
- W8banaki representatives hold significant understanding of battery supply chain
- W8banaki hold years of experience collaborating with chemicals industry
- LU7 committed to a collaborative and respectful relationship
LU7 finalises FRA and OTC Listing
- Lithium Universe quoted on the German-based
- FRA
- Lithium Universe quoted on US-based OTC
- Providing access to trading for US, Canadian
- and European investors
- Expansion to broaden investor base into diverse markets
Click here for the full ASX Release
This article includes content from Lithium Universe, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Exploration Update
Octava Minerals Limited (ASX:OCT) (“Octava” or the “Company”), a Western Australia focused explorer of the new energy metals REE’s, antimony, gold & nickel, is pleased to provide an exploration update on its Western Australian exploration projects.
Highlights
- Mobilisation of crews for detailed geophysical survey over the identified 10km antimony corridor at Yallalong.
- Heritage clearance confirmed over two priority antimony drill targets, Discovery and Central, in preparation for drilling to commence.
- Drilling to focus on extending the existing high-grade antimony mineralisation along strike and at depth over the Discovery target.
- Heritage surveys over next 2 priority antimony targets planned for early December.
- Drill site preparation underway at the large Byro REE & Li project in readiness for metallurgical core drilling to commence mid-November.
Yallalong Antimony
The Yallalong project is located ~ 220km to the northeast of the port town of Geraldton in Western Australia and comprises two granted Exploration Licences, E70/5051 (100% owned) with an exploration area of 63.4km2 and E09/2823 (100% owned) with an exploration area of 94km2.
The antimony (Sb) mineralisation identified at Yallalong appears to occur within a 10km north- south striking mineralised corridor that is interpreted to be related to a structural corridor between the Darling and Woodrarung faults. (Refer ASX announcement 17 September 2024)
Octava will begin detailed gravity and seismic surveys over the identified antimony corridor at Yallalong. Teams will mobilise on ground in the coming days. The geophysical surveys will provide details on the key structures such as shears & faults which act as conduits to mineralising fluids. It will also provide better understanding of the key lithological boundaries.
Figures 1 Outcrop at the Discovery Prospect, Yallalong Project
POW applications covering the 4 priority antimony targets have been approved. These approvals cover the exploration and planned drilling of the antimony targets at the Yallalong Project.
The two priority targets, Discovery and Central, have confirmed heritage clearance, clearing the path for drilling to commence. Heritage surveys covering the No.4 and North targets are expected to be completed by early December in preparation for drilling early in the new year.
The drilling at the Discovery target will focus on extending the previously intersected high-grade antimony mineralisation, both along strike and at depth, with the aim of outlining an antimony resource. Drilling at the Central target will test anomalous antimony at surface, as no drilling has been carried out previously.
Byro
The Byro Project is located on the Byro Plains of the Gascoyne Region, Western Australia, 220 km south-east of Carnarvon and 650 km north of Perth. The Byro project is prospective for rare earths (REE’s), lithium and base metals. (Refer ASX announcement 24 January 2024)
Previous GSWA regional soil sampling and RC drilling has recorded wide areas and large intercepts of anomalous REE, Li & other elements including V and Zn. Previous work identifies an area of mineralisation occurring over more than 30km in strike length and 15km in width. See Figure 2.
Click here for the full ASX Release
This article includes content from Octava Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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