- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Cardiol Therapeutics
Dynasty Gold
Black Swan Graphene
Altech Batteries
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
European Lithium Limited (ASX: EUR) – Trading Halt
Description
The securities of European Lithium Limited (‘EUR’) will be placed in trading halt at the request of EUR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 31 January 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from European 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.
Entitlement Offer Booklet
For a pro rata non-renounceable Rights Issue to Eligible Shareholders on the basis of one (1) New Share for every four (4) existing Shares held by Eligible Shareholders on the Record Date at an issue price of $0.105 per New Share to raise approximately $13,300,015 (before costs) (Offer).
ELIGIBLE SHAREHOLDERS MAY ALSO APPLY FOR SHORTFALL SHARES IN ADDITION TO THEIR ENTITLEMENT.
The Offer opens on Wednesday, 18 September 2024 and closes at 5:00pm (WST) on Thursday, 3 October 2024 (unless it is lawfully extended). Valid acceptances must be received before that time.
Applications for New Shares by Eligible Shareholders can only be made by using or following the instructions on an Entitlement and Acceptance Form, as sent with this Offer Document. The Entitlement and Acceptance Form sets out the Eligible Shareholders' Entitlement to participate in the Offer.
Please read the instructions in this Offer Document and on the accompanying Entitlement and Acceptance Form.
This document is not a prospectus and does not contain all of the information that an investor may require in order to make an informed investment decision regarding the New Shares offered by this Offer Document.
The New Shares offered by this Offer Document should be considered as speculative.
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.
Italy Endorses Tariffs on Chinese EVs Ahead of EU Vote
Italy has expressed support for the EU's proposed tariffs on electric vehicles (EVs) imported from China.
Reuters reported on Monday (September 16) that Italian Foreign Minister Antonio Tajani has confirmed the country’s stance in a recent interview, emphasizing that these measures are essential for protecting the European automotive sector from the competitive pressures created by subsidized Chinese EV production.
"We support the duties that the EU Commission proposes, to protect the competitiveness of our companies," he said.
The proposed tariffs, which are expected to be decided upon in the coming months, are part of a broader EU effort to address concerns over the impact of Chinese subsidies on global markets.
Chinese EVs, often priced lower than their European counterparts, benefit from increased state support. This has led to growing concerns among EU member states about the potential threat to local manufacturers.
Italy, a key player in the automotive industry, is particularly affected, as it is home to major automotive brands.
Taajani’s comments precede an upcoming meeting with Chinese Commerce Minister Wang Wentao, who will visit Rome as the tariff vote looms. The EU is moving closer to implementing tariffs of up to 35.3 percent on Chinese-made EVs. These tariffs would be in addition to the standard 10 percent car import duty that is already in place.
The European Commission is expected to make a final decision after further consultations with member states.
Italy's backing of the EU’s proposed tariffs on Chinese EVs comes amid broader global tensions over trade practices. Both the US and Canada have already implemented tariffs on Chinese-made EVs.
The US raised 100 percent tariffs on EVs from China this past May, also targeting strategic goods such as solar cells, semiconductors and lithium-ion batteries, which are vital to EV production.
Canada followed suit in August, imposing 100 percent tariffs on Chinese EVs, as well as a 25 percent surcharge on Chinese steel and aluminum products. These are set to take effect in October.
The measures are aimed at countering what these countries view as China’s unfair trade practices.
The EU’s response has been similarly robust. Earlier this year, the EU introduced Chinese EV tariffs ranging from 17.4 percent to 37.6 percent; those were in addition to its standard 10 percent import duty.
China has responded to Canada’s tariffs by filing a formal complaint with the World Trade Organization (WTO), arguing that these trade restrictions constitute protectionism and violate international trade rules.
The complaint marks China’s third major WTO case this year, following similar disputes with the US and the EU over EVs, as well as other high-tech exports.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Atlantic Lithium Receives Environmental Approval for Ewoyaa Lithium Project
Africa-focused explorer Atlantic Lithium( ASX:A11) has received an environmental permit from Ghana's Environmental Protection Agency (EPA) for its flagship Ewoyaa lithium project in Ghana, West Africa.
In a press release, Atlantic said the permit allows the project to proceed with its proposed activities, as detailed in the company's mine and process environment impact statement (EIS).
The project is currently being advanced to production under an agreement with Piedmont Lithium (ASX:PLL,NASDAQ:PLL).
“The grant of the EPA permit marks a major step towards the construction of Ghana’s first lithium mine and follows a collaborative engagement process with the EPA and the residents of (the) project’s catchment area to ensure their alignment with the Company’s proposed activities at Ewoyaa,” said Neil Herbert, executive chairman of Atlantic Lithium.
Strong local support has also been shown for Ewoyaa, with both public hearings in February and June being well attended and answering queries of the project’s affected communities.
The company said the land it operates is “imperative to the long-term success of the project,” which is proven to produce a spodumene concentrate product suitable that can be converted for use in EV batteries.
Ewoyaa is also expected to become one of the top largest spodumene concentrate producers in the world, according to Atlantic Lithium, with production of 3.6 million tonnes of spodumene concentrate over a 12 year mine life.
A July 2024 resource estimate for Ewoyaa outlines total resources of 36.8 million tonnes at 1.24 percent lithium oxide.
Atlantic was granted a mining lease for the project in October 2023. Under this, the company was also granted exclusive rights to carry out mining and commercial production activities over the Mining Lease area for an initial 15-year period, renewable following Ghanaian legislation.
“We look forward to updating the market on the completion of the remaining steps ahead of us, which will see Ewoyaa achieve shovel-readiness.”
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Atlantic Lithium is a client of the Investing News Network. This article is not paid-for content.
MLS Continues to Advance and Expand its Flagship Lac Carheil Graphite Project Towards PFS
– Lac Carheil’s strategic value also stands to be significantly enhanced by Canadian Government moves to potentially impose tariffs on Chinese critical mineral imports
Metals Australia Ltd (ASX: MLS) continues to make significant progress advancing its flagship Lac Carheil high-grade flake-graphite development project in the Tier 1 global mining province of Quebec, including:
- Comprehensive metallurgical testwork1 confirming higher quantities of higher-value coarse flake graphite in the Northwest zone of the Mineral Resource2 (Figure 1 & Table 1), with average mass recoveries of 32.4% in the + 100# product fraction (+149 micron), compared to ~ 25.5% in the Southeast portion of the resource. This represents a 27% increase in the proportion of coarse flake graphite in this zone of the resource where coarse flake attracts premium pricing, as outlined in our scoping study3.
- Enhanced processing capability achieved in design updates to the flake graphite concentrator flowsheet4 to maximise recovery of coarse flake and optimise production efficiency - at an initial production rate of 100,000 tonnes per annum of concentrate (+95% Graphitic Carbon - Cg) (Figure 2).
- Land holding at Lac Carheil increased by 62% to 11,905 hectares through pegging of further claims covering potential southeast extensions of the existing resource and for placement of key infrastructure.
- Downstream design work4 set to commence to test and select the preferred graphite purification technology, conduct a plant site location study and develop a Project Economic Assessment (PEA) for the downstream Battery Anode Material (BAM) refinery, with a bulk concentrate sample being generated by SGS Canada for shipment to Dorfner Anzaplan facilities in Germany.
- Applications lodged with Government agencies to access grants under various funding programs, with further submissions planned, to advance Pre-Feasibility Study.
- Extensive local consultation and engagement with consultants, contractors, government and First Nations organisations, including the economic development arm of the Uashat Mak Mani-Utenam, in line with the Company’s commitment to establish a socially acceptable project for all stakeholders.
- Contract award readiness for additional work scopes integral to the broader PFS study following approval of a drilling permit, including Mineral Resource Estimation, mining design and scheduling and Environmental and Social Impact Assessment (ESIA) studies.
In addition to the advancements being made by the Company, the strategic value of the Lac Carheil high- grade flake-graphite project stands to be significantly enhanced from the outcome of a 30-day consultation period announced by the Canadian Government on August 26th 2024 (September 10 to October 10, 2024) seeking inputs on the potential application of a surtax on a range of Chinese imports related to critical manufacturing sectors, including critical minerals.
This follows the imposition of a 100% surtax on Chinese-made EVs due to come into effect on October 1, 2024, and a 25% surtax on imports of steel and aluminium from China, effective October 15, 2024. Lac Carheil’s strategic significance is also linked directly to, and referenced in, Quebec’s Plan for The Development of Strategic Minerals5 (2020-2025).
Based on its reviews of the projects outlined in the above plan, Metals Australia is unaware of any graphite projects actively progressing in Canada that have both the resource grade and upside potential that Lac Carheil exhibits.
Figure 1 - Lac Carheil Graphite Project – Existing Mineral Resource Locations2 (grey shading / black hole positions) & planned resource extension and infill drilling (blue holes). Location of Quebec Hydro High Voltage Powerline Corridor (dashed line) & general topography.
Metals Australia CEO Paul Ferguson commented:
“We are delighted to report progress on multiple fronts at Lac Carheil as we continue to advance our flagship high- grade flake-graphite project in Quebec to Pre-Feasibility Study status.
This progress comes as we wrap up our phase one field exploration program at our Corvette River project in Canada, where we expect to receive assay results later this month, and the recent launch of aggressive exploration programs across our three Australian gold and critical minerals projects – Warrambie, Big Bell North and Warrego East.
Over the last couple of weeks, I have had the pleasure of engaging in person with a broad range of stakeholders on country in Ontario and Quebec regarding the development of Lac Carheil. The very clear message from those discussions is that our project is rapidly developing a profile as one of the best graphite projects advancing in North America today.
Earlier this week, the Lac Carheil project received a further potential tailwind when Canada’s Department of Finance launched a 30-day consultation process on a range of potential new surtaxes, including on critical minerals, in response to what it claimed were unfair Chinese trade practices. The Government has already shown its teeth on this issue by imposing a 100% surtax on all Chinese-made EVs, effective October 1, 2024, and a 25% surtax on imports of steel and aluminium, effective October 15, 2024.
Our project can contribute to forecasted shortfalls of graphite required to meet national and homeland security requirements across North America. This future stands in stark contrast to the state of domestic market supply for graphite in North America today. There is extremely limited onshore production of graphite in North America. Nearly all graphite used in the growing North American battery industry is sourced from offshore jurisdictions. This places Lac Carheil as a project of strategic importance for a domestic supply of high-quality graphite. This is essential for securing the supply chain certainty required for the clean energy transition.
The work we committed to completing as part of our planned PFS is rapidly advancing. Comprehensive metallurgical test work for the PFS level flowsheet design of the planned 100,000 tonnes per annum concentrate plant is well progressed – as are the plant designs for the concentrate plant. We are very close to dispatching the bulk concentrate sample to Germany that will launch the downstream design phase of the project, on schedule.
The design work to date has also given rise to a prioritised list of follow-up projects that we intend to further refine and progress as we move from PFS level studies and into the Feasibility Study design. We have held discussions related to grant funding avenues in Canada, including in Quebec, and in the USA, with funding applications made and more to follow. The work we are proposing is innovative and the solutions to be generated match well with the criteria set by governments for grant funding.
While our recent endeavours have focused heavily on the engineering and scientific elements of design, we are cognizant of our need to engage broadly with stakeholders and communities to ensure we understand their concerns, identify solutions as we look to establish enduring partnerships with those communities and stakeholders.
In that regard, a large focus of my recent trip was spent engaging with government at the provincial and local levels and speaking with stakeholders, including existing and prospective service providers, First Nations economic development groups and to seek further meetings with governments and First Nations communities. I was appreciative of the many groups we were able to speak with face to face and to those who have committed to follow up discussions.
As a board and management team, we remain dedicated to collaborating with all stakeholders to develop this strategically significant project for the betterment of all.”
Click here for the full ASX Release
This article includes content from Metals Australia 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.
Cleantech Lithium extends offer period as ASX listing process progresses
Cleantech Lithium (AIM:CTL) is extending its offer period in relation to its application for listing on the Australian Securities Exchange (ASX) by up to two weeks, as the company awaits conditional approval from the ASX.
“CleanTech Lithium advises that the Offer Period Closing Date will extend from 9 September 2024 to 5pm AWST on 23 September 2024 or an earlier closing date as determined by the Brokers, following Conditional Approval from the ASX (assuming such Conditional Approval is achieved). The Settlement Date will now be three days after the closing of the Offer Period,” the company said in a recent statement.
Cleantech Lithium filed its application for admission to the ASX on Aug. 16. A condition of the offer is a conditional approval from the ASX. As of this writing, the company is awaiting a formal response from the exchange, which typically takes four weeks from the date of filing.
Receipt of the conditional approval will then trigger a completion of the offer, and the settlement date will be three days after the close of the offer period.
Investors interested in participating in the offer under the Replacement Prospectus may contact their broker or follow the instructions on this web page.
Australian Lithium Stocks Jump as CATL Confirms Production "Adjustments" at Major Mine
Chinese battery maker Contemporary Amperex Technology (CATL) (SZSE:300750) is making changes to lithium production at a mine in Yichun, Jiangxi, the company confirmed on Wednesday (September 11).
Bloomberg quotes UBS (NYSE:UBS) as saying the move could cut China’s monthly lithium carbonate output by 8 percent, helping alleviate the current oversupply in the market, which has weighed heavily on prices over the past year.
In a statement provided to Reuters, CATL said, "Based on recent lithium carbonate market conditions, the company plans to make adjustments to production in Yichun." The news from the company triggered a swift response in the market, with lithium futures prices rising and lithium company share prices seeing notable boosts.
ASX-listed lithium stocks such as Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) and Liontown Resources (ASX:LTR,OTC Pink:LINRF) saw increases, respectively jumping as much as 16 percent and 18 percent on Wednesday.
Mineral Resources (ASX:MIN,OTC Pink:MALRF) and Core Lithium (ASX:CXO,OTC Pink:CXOXC) also enjoyed significant share price bumps, rising about 21 percent and 12 percent, respectively.
Core Lithium is one of several Australian lithium miners that has opted to cut production due to low prices. The company suspended operations at the Grants open pit at its Finniss mine in the Northern Territory in January.
UBS believes the cuts from CATL will result in 11 to 23 percent upside for lithium prices in the rest of 2024.
The firm also notes that speculation about production halts at CATL's mine have been made in the past and proven to be false; however, this time it has higher conviction that the news is accurate.
No further comments had been gathered from CATL at the time of this writing.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.