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Quarterly Activities Report – December 2023
Chariot Corporation Limited (“Chariot”, “CC9” or the “Company”) is pleased to present our Activities Report and Appendix 5B for the period ending 31 December 2023. The fourth quarter of 2023 marked the achievement of several landmark milestones for the Company, including completion of the IPO and ASX listing. Chariot is well-positioned for 2024 with adequate liquidity to support exploration activities across its lithium portfolio and to continue to deliver shareholder value.
HIGHLIGHTS
- IPO and ASX listing successfully completed
- Maiden drilling campaign at Black Mountain commenced on 10 November 2023 with six (6) diamond drill holes completed totalling 652 meters of Phase 1 Drilling Program with initial assay results imminent
- IPO corporate structure implemented, resulting in a 91.9% ownership of the flagship Black Mountain project in Wyoming and a 79.4% interest in the Resurgent project in Nevada and Oregon
- Enhanced balance sheet position with cash at year end of A$7.6 million to fund current exploration plans and related activities
Initial Public Offering
On 5 October 2023, the Company closed a A$9 million Initial Public Offering (“IPO”) and commenced trading on the Australian Securities Exchange (“ASX”) at 9:00 am (AWST) on 27 October 2023. The IPO was led by Wilson Corporate Finance Limited and Jett Capital Advisors LLC who acted as Joint Lead Managers.
As of December 31, 2023, Chariot’s cash position was A$7.6 million which remains sufficient to fund the initial drilling program at Black Mountain as well as the Company’s other essential activities.
Implementation of IPO Corporate Structure
In connection with the IPO, the Company completed the implementation of the group’s IPO corporate structure whereby Chariot consolidated its ownership position in its U.S. projects. This implementation enables the Company to exercise greater operational and strategic control over, and benefit from greater economic exposure to, the assets in its portfolio.
The Company now holds, through its subsidiaries, a 91.9% interest in its Wyoming projects (including Black Mountain) and a 79.4% interest in its Resurgent Project.
Black Mountain Project
Phase 1 Drilling Program
The Black Mountain phase 1 drilling program commenced on 10 November 2023 with a plan to drill 2,000 – 3,000 meters of oriented triple tube HQ sized core (“Phase 1 Drilling Program”). Major Drilling Group International, Inc. (“Major Drilling”) is contracted to drill using a Boart Longyear LF90 Surface Diamond Core Drill Rig (the “Drill Rig”).
Despite an atypically harsh winter conditions in late November and December, which included wind speeds of up to 60 km per hour at the Black Mountain summit, Major Drilling and Chariot’s team were able to complete six (6) diamond drill holes totalling 652 meters of HQ diamond drill core (“Drill Core”). The drilling activities were aided by the abatement of the harsh weather conditions experienced before the second half of December 2023.
Chariot restarted drilling on 8 January 2024 and, weather permitting, plans to continue drilling until March 2024.
Initial Assay Results Pending
The first batch of Drill Cores from the Phase 1 Drilling Program were transported to American Assay Labs in Reno, Nevada in December 2023 with assay results expected in late January 2024.
Click here for the full ASX Release
This article includes content from Chariot Corporation, 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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Chariot Corporation
Investor Insights
Chariot Corporation presents a unique value proposition for seasoned investors, with its strategic ownership of the largest land package for lithium exploration in the US and a portfolio of non-core assets providing significant revenue opportunities.
Overview
Chariot Corporation (ASX:CC9) is the largest landholder for lithium exploration in the US. It has a strategy to target both hardrock lithium in Wyoming and claystone lithium in Nevada and Oregon. The flagship Black Mountain project in Wyoming has shown significant mineralization with grades of up to 6.68 percent Li2O from rock chip samples. Chariot’s six other hard rock projects in Wyoming span 443 claims covering 3,585 hectares.
The second flagship project, Resurgent, has the second largest land position in the McDermitt Caldera, which hosts the two largest lithium resources discovered to date (Thacker Pass with 19.1 million tons (Mt) lithium carbonate equivalent (LCE) and McDermitt at 21.5 Mt LCE). The recent $650-million investment in Thacker Pass by General Motors indicates interest from automakers looking to secure a supply of battery raw materials. The McDermitt Caldera’s size and scale potential present an opportunity for Automotive OEMs, battery manufacturers and others to obtain large-scale supply to meet their growth plans.
The automaker's EV targets and government policies banning new internal combustion engine (ICE) car sales could propel lithium demand to 3.7 Mt by 2030, according to projections from mining giant Albemarle. This implies a CAGR of more than 20 percent between 2022 and 2030.
As the world's demand for lithium continues to grow, Chariot's exploration and development efforts in the US are well-timed and offer investors exposure to the rapidly growing lithium market.
Chariot has been actively focusing on creating value through the divestment of selected lithium assets. Four such assets have been divested so far through sale and/or option agreements with publicly listed companies. These transactions can potentially generate up to an estimated US$5.1 million in cash and stock-based consideration, in addition to future royalty payments for Chariot. The company currently has four additional projects that may be potential divestment opportunities, including Lida and Amargosa (Nevada), Mardabilla (Western Australia) and Nyamukono (Zimbabwe).
The company believes its two core projects, Black Mountain and Resurgent, represent early, prospective lithium opportunities in the United States. Chariot has completed its phase 1 drill program at the Black Mountain project consisting of nine shallow holes, drilled from a total of 1,132 metres. The company plans to recommence exploration work at Black Mountain and engage in exploration activities at its six other lithium-caesium-tantalite pegmatite projects in Wyoming. Phase 2 drilling at Black Mountain will comprise 3,000 to 4,000 metres utilizing cost-efficient, man-portable rigs as a precursor to a larger truck-mounted drilling program.Following the AU$9-million IPO, Chariot is now fully funded to execute its exploration plans over the next two years, of which nearly a significant proportion will be spent on the Black Mountain project.
Concurrently, the company plans to continue exploration activities at the Copper Mountain project, South Pass, Wyoming Regional and the Resurgent project to define targets for future drilling.
Chariot boasts a world-class team with strong track records in mining, exploration and the financial services sectors. The management has significant corporate and investment banking experience. Non-executive chairman Murray Bleach was formerly the CEO of Macquarie in North America, while the CEO, Shanthar Pathmanathan was an oil and investment banker with Macquarie and Deutsche Bank. On the geological side, Neil Stuart who is a non-executive director is a lithium industry veteran having previously founded Orocobre Ltd (which later merged with Galaxy Resources) to form Allkem Ltd, one of the largest lithium producers in the world. The exploration team is led by Dr. Edward Max Baker, a geologist with over 40 years of experience and several discoveries. He was the chief geologist at Newcrest Mining, MIM Holdings, Rennison Goldfields and Mount Isa Mines. The collective experience of the management team, from investment banking (with fundraising and M&A experience) to resource discoveries, will be useful in advancing the company’s core projects.
Company Highlights
- Chariot Corporation is a mineral exploration company focused on discovering and developing high-grade and near-surface lithium opportunities in the US.
- Chariot holds the largest land position for lithium exploration in the US with hard rock lithium and claystone hosted lithium exploration assets.
- The company commenced trading on the ASX in October 2023 after closing a highly sought-after and oversubscribed A$9 million initial public offering (which is in addition to AU$14.8 million being raised privately to assemble the portfolio).
- It is currently focused on its two core projects in the US: (1) the Black Mountain project, a hard rock lithium project located in Wyoming; and (2) the Resurgent project, a claystone lithium project located in Oregon and Nevada.
- Chariot also holds an exploration pipeline of six projects in Wyoming including Copper Mountain, South Pass, Tin Cup, Barlow Gap, Pathfinder and JC projects. These projects are prospective for hard rock lithium.
- The company’s portfolio includes several additional projects prospective for hard rock (Western Australia and Zimbabwe) and claystone lithium (Nevada, USA).
- Chariot also holds interests in several projects that have been either sold or conditionally divested through option agreements to publicly listed companies. Each of the divested projects are operated by a publicly listed counterparty and depending upon the particular transaction, the projects generate additional revenue for Chariot in the form of future payments and royalties.
- Chariot offers investors exposure to the nascent and rapidly growing US lithium market.
Key Projects
Black Mountain Project, Wyoming
County, approximately midway between Casper and Riverton, Wyoming. Chariot initially held a 91.9 percent stake in the project with 134 mining claims covering 878 hectares. In 2024, the company expanded the project with 218 contiguous claims resulting in a 206 percent increase in project tenure area. Black Mountain now comprises 352 claims covering 2,686 hectares of tenure which subsequently increased Chariot's ownership interests in its Wyoming lithium portfolio to 93.9 percent.
The project is well-serviced by existing roads and infrastructure. The claim area was acquired via claim staking of public land administered by the US Bureau of Land Management.
The project features large pegmatite outcrops at the surface with spodumene and tantalum mineralisation. Surface rock chip samples returned assays of up to 6.38 percent lithium oxide.
Black Mountain may represent a significant hard rock lithium opportunity in a tier-1 mining jurisdiction in the US. The asset features an excellent combination of geological factors, and a supportive regulatory regime and is located in a largely unpopulated part of Wyoming.
Resurgent Project, Nevada and Oregon
The Resurgent project is a claystone-hosted lithium project located in the McDermitt Caldera in Oregon and Nevada. The company owns a 79.4 percent stake in this project. The Resurgent project comprises 1,450 claims covering 12,128 hectares and is further subdivided into two principal claim areas, identified as ‘Resurgent North’ and ‘Resurgent East.’ Chariot has the second-largest land position in the McDermitt Caldera, which hosts two of the largest lithium mineral resources in North America, with a combined mineral resource estimate of over 40 Mt LCE - Thacker Pass at 19.1 Mt LCE and McDermitt at 21.5 Mt LCE.
The Resurgent North project targets the same sedimentary units that host Jindalee Resources' (ASX:JRL) McDermitt project with a mineral resource estimate of 21.5 Mt LCE. A surface sampling campaign at Resurgent North conducted in 2021 involving 289 samples returned values as high as 3,865 ppm lithium (over three times typical lithium claystone MRE cut-off grade). Of the 289 samples, 70 samples returned values greater than 100 ppm lithium, 20 samples returned values greater than 1,000 ppm lithium and 10 samples returned values greater than 2,000 ppm lithium.
The Resurgent East project targets the same sedimentary units that host Lithium Americas’ (NYSE:LAC) Thacker Pass lithium deposit (MRE at 19.1 Mt LCE). The similarity in geological characteristics with the two largest lithium deposits in the US further validates the potential for a large-scale high-grade lithium discovery at Resurgent.
Exploration Pipeline Projects
Besides the two core projects, the company has a pipeline of six lithium exploration projects comprising 443 claims and covering 3,585 hectares. Each of them is described below:
- Copper Mountain Project: The project is located ~80 kilometres northwest of Black Mountain in Fremont County, Wyoming. It comprises 83 mining claims covering 648 hectares. Copper Mountain has a long history of prospecting and artisanal-scale production having been historically mined for mica, feldspar, beryl, lepidolite and tantalite. The company has already identified multiple pegmatite target areas and has plans for a geochemical and ground magnetics survey in addition to geological mapping.
- South Pass Project: The project is located in Fremont County, Wyoming, and comprises 214 mining claims covering 1,750 hectares. This is a large and highly prospective project with an abundance of outcropping pegmatites that occur in swarms. The company notes the individual pegmatites at the project could range up to several hundred metres wide and several thousand metres long. There has been no prior exploration for hard rock lithium in the South Pass project area.
- Regional Wyoming Exploration Pipeline Projects: It comprises four hard rock lithium mining projects namely Tin Cup, Pathfinder, Barlow Gap and JC, comprising 146 mining claims covering 1,146 hectares.
- Barlow Gap Project: This project is located in Natrona County, Wyoming, and comprises 60 mining claims covering 501 hectares. This is an early-stage hard rock lithium exploration project with outcropping pegmatites on a northeast trend.
- Tin Cup Project: The project is located in Fremont County, Wyoming, and comprises 45 mining claims covering 376 hectares. There is a long history of exploration at The Tin Cup mining district dating back to 1907. The region has been known for small-scale mining for gold, copper and various gemstones including red jasper, ruby and jade. This is an early-stage hard rock lithium exploration project with outcropping pegmatites.
- Pathfinder Project: This is an early-stage hard rock lithium project located in Natrona County, and comprises 32 mining claims covering 234 hectares.
- JC Project: Located in Fremont County, Wyoming, the project comprises nine mining claim blocks spanning 75 hectares. This is an early-stage hard rock lithium exploration project that features several small excavation pits and outcropping pegmatite dykes.
Divestment Projects
Chariot has been actively focused on creating value via divestment of selected lithium assets in its portfolio, which includes the following assets: Halo (Chariot’s ownership 21.4 percent), Horizon (Chariot’s ownership 21.4 percent), Lithic & Mustang (ownership 21.4 percent) and the WA Lithium portfolio (Chariot was the 100 percent owner of this property prior to the sale to St George Mining Ltd). These divestments, once executed, can potentially generate more than US$5 million in gross proceeds (cash and stock-based consideration) for Chariot in addition to future royalty payments.
The company has identified four more projects for divestment: Lida project (Nevada), Amargosa project (Nevada), Nyamukono project (Zimbabwe), and Mardabilla project (Western Australia).
Management Team
Shanthar Pathmanathan – Managing Director
Shanthar Pathmanathan has 14 years of investment banking experience in the metals and mining, oil and gas and chemicals sectors. He was the CEO and managing director of Lithium Consolidated, an ASX-listed company, which had one of the largest portfolios of hard rock lithium exploration assets, globally. Before that, he held various investment roles with Deutsche Bank and Macquarie Group. He has a Bachelor of Laws from the University of Western Australia.
Frederick Forni – Executive Director
Frederick Forni is a senior finance professional with over 25 years of investment banking experience. He was a former senior managing director of Macquarie Holdings (USA) and held non-executive director roles with numerous Macquarie Group entities and GLI Finance Ltd. He holds a B.A. in economics from Connecticut College, a J.D., awarded cum laude, from Georgetown University Law Center and an LL.M. in taxation from New York University Law School.
Neil Stuart – Non-executive Director
Neil Stuart is an exploration geologist with over 40 years' of experience and is a member of The Australian Institute of Geoscientists and a Fellow of The Australasian Institute of Mining and Metallurgy. He was a founding director of Orocobre Limited, now Alkem (ASX:AKE). He has considerable experience across several commodities and was heavily involved in project delineation and acquisition in Australia, Mexico and Argentina. Over the last 20 years, he was involved with the exploration and commercial development of lithium projects. Stuart is on the board of numerous ASX-listed companies and is a graduate of the University of Melbourne (BSc.) and James Cook University (MSc.).
Dr. Edward Max Baker – Geological Consultant
Dr. Edward Max Baker is a Ph.D. geologist and a fellow of AusIMM. Baker has over 40 years of experience and has made several discoveries. Baker was chief geologist for Newcrest Mining, MIM Holdings, Rennison Goldfields and Mount Isa Mines. Baker was co-founder and previously a vice-president of exploration at New York Stock Exchange-listed Integra Resources (NYSE:ITRG).
Ramesh Chakrapani – Chief Strategy Officer
Ramesh Chakrapani has over 20 years of experience in the investment banking and alternative asset investing space. Of which, over 15 years were spent at The Blackstone Group where he was a managing director and a member of the Hedge Fund Solutions Special Situations Investing Group. Chakrapani has invested across a diverse set of industries, asset classes, geographies and liquidity profiles, and has represented The Blackstone Group on the boards of selected investments. He has a B.A. from Yale University.
David Bethke – Exploration Geologist
David Bethke is an exploration geologist with 6 years of experience working primarily in the Mountain West and Alaska regions of the United States, specializing in both gold and lithium deposits. During his career, he has worked closely with companies such as Jindalee and United Lithium to explore, sample, drill, and map lithium deposits hosted in both hard rock and claystone. In Alaska, he has worked in production for multiple well-known gold mining companies, including Coeur Mining and Northern Star Resources. David graduated cum laude from the University of Idaho with degrees in geology and Spanish.
Black Mountain Phase 2 Program has Commenced
Quarterly Activities/Appendix 5B Cash Flow Report
Quarterly Activities and Cashflow Report for the quarter ended 31 December 2024
White Cliff Minerals Limited (“WCN” or the “Company”) has announced Quarterly Activities and Cashflow Report for the quarter ended 31 December 2024.
HIGHLIGHTS
- Acquired the granted exploration licence L-2797 (“License”) which lies within the broader Rae Copper region, Nunavut, Canada and covers the historical Danvers copper deposit (“Danvers”). Acquisition of this licence bolsters the already impressive and prospective Rae Copper Project portfolio.
- Heli supported maiden field sampling and reconnaissance programme that focused on priority areas close to existing and established infrastructure at Rae and Great Bear projects delivers extraordinary rock chip assay results across both.
- During of the quarter, the Company successfully raised $5m (before costs) cornerstoned by the Company’s strategic advisor, Mr John Hancock, at a premium ($0.025) of 8.5% to the preceding 15-day VWAP.
- Post quarter end, the Company received approvals from the Nunavut Impact Review Board, its Class A Land Use Permit granted by the Crown-Indigenous Relations and Northern Affairs, and Class B Water Licence from the Nunavut Water Board. Receipt of these approvals provides the Company with all required permits for its maiden drilling program scheduled to commence in March 2025.
- Aurora Geosciences, experts in northern exploration, geology, and geophysics have been contracted to support the maiden drilling campaign at Rae in March 2025.
Danvers Copper Deposit
- Highlights from the 1960’s resource drilling included:
- 39.40m @ 4.9% Cu from 60.3m (S-57)
- 47.10m @ 3.2% Cu from 42.2m (S-24)
- 35.40m @ 3.2% Cu from 21.0m (S-21)
- 27.5m @ 4.0% Cu from 76.7m (S-63)
- 38.1m @ 2.8% Cu from 63.4m (S-73)
- 31.4m @ 3.3% Cu from 15.2m (S-20)
- 44.8m @ 2.2% Cu from 55.8m (S-18)
- Follow up drilling in 2003 & 2005 focused mainly on expanding the known mineralised envelope which starts at surface and has dimensions of approximately 550m(L) x 200m(W) x 150m(D). Results confirmed mineralisation remains open in all directions presenting potential for further exploration success, highlights include:
- 72.70m @ 1.6% Cu from 27m (2003-47-2)
- 56.39m @ 1.5% Cu from 47m (2003-47-1)
- 98.05m @ 0.9% Cu from 66m (2003-47-3)
- 52.88m @ 1.2% Cu from 177m (2005-47-7)
- The previously reported work and studies undertaken on the Licence will be verified by the Company as quickly as reasonably possible, with proposed work focused on drilling being planned for 2025.
Click here for the full ASX Release
This article includes content from White Cliff 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.
Rae Copper Project fully permitted for drilling
Hulk and Danvers targets will be priority as part of the maiden campaign
White Cliff Minerals Limited (“WCN” or the “Company”) is pleased to announce that its Rae Copper Project, Nunavut (the “Project”) has now received the remaining permits and approvals required to commence drilling activities. The maiden drilling campaign will follow up high priority targets that were generated during the successful field campaign at the Rae Copper Project during 2024, where copper rock chips returned remarkable assays, with results exceeding 60% Copper (refer to announcements dated 4 October and 14 October 2024).
- Type B Water Licence issued by the Nunavut Water Board allowing activities to occur for an initial period of seven (7) years
- The Rae Copper Project is now fully permitted allowing drilling activities to commence during March 2025
- Updates on drill targeting, contractor selection, and mobilisation will be provided in the coming weeks
“It is pleasing to see the approval from the Nunavut Water Board occur so swiftly, and some four or so weeks ahead of our planned schedule. The Rae Copper Project is now fully permitted with drilling activities planned to commence during March.
Our initial campaign will focus on targets within the highly prospective Hulk Sedimentary prospect and the Danvers project area. Over the coming weeks, we aim to finalise contractor selection and settle plans for priority target holes.
This is a significant milestone for the Company, with drilling activities now fully approved. I’d like to take this time to acknowledge the greater White Cliff team and our partners; this milestone, achieved in such a swift fashion is remarkable. I can’t wait to safely and successfully execute this upcoming drilling campaign and I look forward to sharing updates about our progress as we award drilling contracts and mobilisation activities commence towards the Rae Site!”
Troy Whittaker - Managing Director
Click here for the full ASX Release
This article includes content from White Cliff 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.
Galan’s Mineral Resources grow to 9.5 Mt LCE
Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce a material increase in its JORC (2012) Mineral Resource estimate for its 100% owned Candelas Project (Candelas or the Project) located in the Catamarca Province, Argentina. Galan engaged SRK Consulting (Australasia) Pty Ltd (SRK) to update the Mineral Resource Estimate (MRE) of Lithium Carbonate Equivalent (LCE) and potassium chloride equivalent (KCl).
- 100% owned Candelas Mineral Resource grows by more than 150% to 1.6Mt LCE.
- Galan’s Hombre Muerto resource position (9.5 Mt LCE) places it within the top 10 of lithium construction and production projects globally (1)
- Material increase at Candelas provides greater optionality in commercialising the Project
- Significant upside potential also identified to further enhance the latest Candelas Mineral Resource
In late 2024, Galan completed surface mapping and undertook additional geophysics over Candelas and its surrounding environs. Based on this additional geoscience data, SRK remodelled the hydrogeological domains and re-estimated mineral resources for lithium, potassium, LCE, and KCl (potash), leading to the material increase in the Candelas MRE Estimate (Table 1).
Managing Director, Juan Pablo (JP) Vargas de la Vega, commented:
“Applying sound geoscientific knowledge and modern exploration techniques to a world-class lithium resource has continued to deliver outstanding results for Galan. We identified the potential to add significant value-accretive LCE tonnes at Candelas on a very modest budget and have delivered on that opportunity.
On behalf of the Board and myself, I would like to thank our team and our consultants. With this material resource growth, Galan now sits within the top 10 lithium production and construction projects, by Mineral Resource, which is an unbelievable achievement from our maiden resource generated in 2019.
Our resources are focused on finalising the Phase 1 financing and offtake process followed by completion of the Phase 1 construction and operations at HMW.”
Click here for the full ASX Release
This article includes content from Galan Lithium, 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.
Strategy Update and Cost Restructure
Livium Ltd (ASX: LIT) ("Livium" or the "Company") wishes to provide a strategic update in response to progress that had been made to shift our various technologies to important inflection points for growth. Livium’s strategy is now focussed on strategic partnering initiatives which will facilitate the ongoing growth and development of the Company’s technologies. With a more focussed set of actions, a review of the business has been undertaken to explore options to reduce costs.
HIGHLIGHTS
- Strategic focus on scaling Envirostream, the Battery Recycling division, due to the potential of increased recycling volumes and cashflows over the years ahead
- Battery Recycling: Continued safe operations, growing volumes and operating profits, and seek partners to scale operations in line with the expected waste outlook
- Livium is well advanced on the near-term commercialisation pathways of its other technologies:
- Battery Materials: Defined pathway for development of an Australian LFP demonstration plant with funding to be secured directly into VSPC from strategic partners
- Lithium Chemicals: Complete JDA activities with MinRes, including assessment of alternate commercialisation pathways and selection of the preferred lithium product
- Restructuring of the organisation and cost reductions being undertaken with estimated annual ongoing savings of A$1.5m
Comment regarding the strategic update from Livium CEO and Managing Director, Simon Linge
"We have advanced our strategy to inflection points, with the next phases of growth for each division requiring strategic partners to underpin their growth and development. With a focus on strategic growth partners, we have reviewed our resourcing and made the decision to restructure our organisation and reduce costs.
Livium remains committed to delivering returns for shareholders. Whilst organisational changes may impact our ability to react to opportunities, right sizing the organisation assists in resetting the Company's cost base to become sustainable over this critical period."
NEAR TERM PLANS
The following activities have been identified as key to delivering value in the near term:
- Battery Recycling: Continued safe operations, growing end-of-life volumes, and seeking partners to scale operations in line with the expected waste outlook and to expand into related services
- Battery Materials: Secure funding for an Australian LFP demonstration plant from government and private strategic partners, who will invest directly into VSPC
- Lithium Chemicals: Complete JDA activities with MinRes, including assessment of alternate commercialisation pathways and selection of the preferred lithium product
- Corporate: Complete implementation of organisation restructure and other cost saving initiatives.
BATTERY RECYCLING GROWTH OUTLOOK
The Battery Recycling division generates revenue today, is the largest recycler of lithium-ion batteries in the country, draws on our technical expertise to provide value-added services and has strong commercial relationships. Strategic focus is being placed on Battery Recycling, through Envirostream, due to the potential of increased recycling volumes over the coming years.
During CY2024, Envirostream successfully increased volumes of EV' andESS2 with most of the volume being received under exclusive customer arrangements. Over CY2024, Envirostream collected 736k tonnes of large format batteries and it is estimated that there are five times these volumes available today which are increasingly expected to be recycled due to consumer demand and government regulation. In their Battery Market Analysis, B-cycle show how EV and ESS batteries are expected to dominate3.
Figure 1. EOL Battery Projections by Market Segment3
Focusing on only EV / ESS for the balance of the decade demonstrates the near-term opportunity for Envirostream collections growth relative to current performance.
Figure 2. 5-Year EV and ESS EOL Battery Projections3
The near-term outlook for Envirostream is positive, enabling increases of volumes collected and processed, and providing an opportunity to expand our service offerings in line with market requirements.
To accommodate expectations of market growth, the business intends to explore deploying growth capital to improve operating efficiencies and expand capacity. The company has appointed advisors to coordinate discussions around partnership and growth funding options, which includes both strategic partners and other financiers.
Click here for the full ASX Release
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.
Chemphys Placement Participation Funds Received
Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to advise that it has received proceeds from Latam Resources Pty Limited (Latam), an Affiliate of Chengdu Chemphys Chemical Industry Co., Ltd (Chemphys) in relation to the share placement (Placement) announced by the Company on 10 September 2024 and subsequently approved by shareholders at the Galan Annual General Meeting held on 15 November 2024. Chemphys agreed to subscribe for US$3 million worth of shares under the terms of the Placement.
Funds received from Latam will be applied by Galan towards ongoing Phase 1 operations at Hombre Muerto West (HMW), as parties continue to work towards finalising an offtake prepayment facility targeted financial close during the first quarter of 2025.
Click here for the full ASX Release
This article includes content from Galan Lithium, 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.
Brunswick Exploration CEO Outlines Bright Future for Lithium in 2025
Despite a challenging year for lithium in 2024, optimism abounds for the sector in the new year, according to Killian Charles, president and CEO of Brunswick Exploration (TSXV:BRW,OTCQB:BRWXF).
Speaking at the Vancouver Resource Investment Conference, he highlighted strong growth in lithium demand driven by renewable energy developments and the increasing need for energy storage solutions.
“When you think about 2024, it definitely was a challenging year, but it's not all bad. Lithium demand grew more aggressively than what people expected,” Charles said.
He cited the daily installation of 1 gigawatt of solar power globally as a major driver for lithium batteries, which store excess energy. This growing demand, he argued, sets the stage for a healthier lithium market in the coming year.
Charles also discussed Brunswick Exploration’s key projects. The Mirage project in Québec has been a focal point, with nearly 17,000 meters drilled since its discovery in late 2023 and plans for an additional 5,000 to 7,000 meters in 2025.
“Québec is blessed with a significant number of world-class assets, and Mirage sits in one of the most exciting areas in James Bay in Québec, having some pretty interesting neighbors across the board, (like) Patriot Battery Metals (TSX:PMET,OTCQX:PMETF) and Winsome Resources (ASX:WR1,OTCQB:WRSLF),” Charles said.
Beyond Canada, Brunswick Exploration is pioneering lithium exploration in Greenland. The company staked a portfolio in 2024 and made a discovery near Nuuk, Greenland’s capital, within weeks. Charles emphasized Greenland’s untapped potential and strategic advantages, including accessibility and first-mover status.
“We're going to be going back there this year. There's a lot more work that needs to be done, so it's going to be another pretty exciting year for Brunswick Exploration, irrespective of what the lithium price does,” he said.
Watch the full interview with Killian Charles, president and CEO of Brunswick Exploration, above.
Disclaimer: This interview is sponsored by Brunswick Exploration (TSXV:BRW,OTCQB:BRWXF,FWB:1XQ). This interview provides information which was sourced by the Investing News Network (INN) and approved by Brunswick Exploration in order to help investors learn more about the company. Brunswick Exploration is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Brunswick Explorationand seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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