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Hertz Lithium: Developing Underexplored Lithium Asset in Arizona
Hertz Lithium (CSE:HZ) advances its hard-rock lithium asset in Arizona with its flagship Lucky Mica lithium property that has historical sampling results indicating lithium concentrations up to 2,450 parts per million (ppm). Hertz Lithium has completed initial exploration and current estimates indicate the potential for the asset to become a leader in the North American lithium market.
Close to the Lucky Mica is the Patriot Lithium’s Wickenburg (ASX:PAT) project, which has already released promising exploration results, with an evaluation of ASD$24.9 million. Three pegmatites have been mapped to date at the Wickenburg’s Dove pegmatite that exhibit potential for spodumene mineralization, with surface expression that can be traced along strike for at least ~440 meters at the Dove West pegmatite and ~430 meters at the Dove East pegmatites. These results reflect the potential for Hertz’s Lucky Mica project.Hard-rock lithium varies from the commonly found lithium brine type of deposits and is more economical to extract as there is no need for the time-intensive evaporation process. Hard-rock deposits are characterized by pegmatite intrusions amenable to open-pit mining. Once mined, refining involves crushing, milling and flotation cells to separate ore.
Company Highlights
- Hertz Lithium is an exploration and development mining company currently exploring its prospective Arizona hard-rock lithium asset.
- The Arizona Pegmatite Belt Arizona Pegmatite Belt is a 400-kilometer-long and 50- to 130-kilometer-wide basement, with pegmatites that occur in igneous and metamorphic rocks of Precambrian age, largely covered by sedimentary and volcanic rocks of Tertiary and Quaternary age.
- The flagship Lucky Mica lithium project has historical sampling results with significant lithium concentrations reaching up to 2,450 ppm.
- The company is awaiting assays from initial exploration campaigns to move towards exploratory drilling.
- The lithium market is expected to grow significantly in the coming years, driven by the explosive growth of the EV market. EV sales rose by 55 percent between 2021 and 2022.
- A nearby Arizona lithium project operated by Patriot Lithium is indicative of the possible deposits for the Lucky Mica asset.
- An experienced team leads the company toward exploring and developing its highly prospective asset.
This Hertz Lithium profile is part of a paid investor education campaign.*
Click here to connect with Hertz Lithium (CSE:HZ) to receive an Investor Presentation
Board Changes
Mr. Sondergaard's appointment to the Board follows his recent appointment as Country Manager for Canada, delivering on White Cliff's stated objective of building a first class operations team. Eric brings over 20 years of operational experience in the mining industry, including significant expertise in frontier exploration and project management. Notably, he played a pivotal role in the identification of key projects recently acquired by the Company and is an expert in remote project development, logistics and has a proven track record of creating value for shareholders.
In conjunction with Mr. Sondergaard's appointment, White Cliff Minerals also announces the retirement of Mr. Ed Mead (“Ed”) from the Board of Directors effective immediately however will continue to provide, as required, consulting services to the Company in relation to its Australian portfolio. The Company would like to thank Ed for his invaluable contribution throughout this transition phase. As part of this ongoing support, and in recognition of the valuable contribution to the formation of the newly focussed and revitalised White Cliff Minerals Ltd, Ed will maintain his full allocation of the Tranche A incentive scheme with the balance becoming void as per the terms and conditions of the incentive scheme itself.
As part of the Board restructure, Troy Whitaker will move to the role of Managing Director of the Company. The remuneration for both Eric and Troy remain unchanged.
Commenting on these developments, White Cliff Chairman, Roderick McIllree, stated: "The changes required to facilitate the change of strategic direction are now complete. We are delighted to welcome someone of Eric’s calibre with a proven track record to the Board. His involvement will be critical as the Company prepares for its maiden field campaign. We also extend our sincere thanks to Ed Mead for his dedication and service to the Company and wish him the best for his future endeavours."
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.
Quarterly Activities Report for the Period Ended 31 March 2024
Oceana Lithium Limited (ASX: OCN, “Oceana” or “the Company”) is pleased to present its activities report for the March 2024 quarter.
Highlights
Solonópole Project, Ceará, Brazil
- Anomalous lithium values above 100 ppm (and up to 631 ppm) found in 383 soil samples within existing and new target areas.
- Integration and interpretation of these soil sample results with data from geophysics, geological mapping (138 line-km), trenching and RC drilling (~2,000m) further enhance prospectivity of existing and new targets.
- Combined datasets confirmed several swarms of pegmatite bodies striking in a NE-SW and E-W directions and identified new high priority areas.
- Nira interpreted to be the most prospective new target, with 180 soil samples of >100 ppm Li and as high as 524 ppm Li covering an area of at least 1km2.
- Nira also features 17 pegmatite outcrops with average widths of up to 30 meters and strike lengths from 200m to 600m.
- Planning for the next follow-up drilling campaign is underway.
Napperby Project, Northern Territory, Australia
- Oceana’s Napperby Project covers some of Arunta Province’s hottest granites plutons, the Wangala Granite (uranium) and Ennugan Mountains Granite (uranium/thorium).
- Both granite plutons show outstanding uranium/thorium ratios and are almost fully encapsulated within Napperby’s EL32836 and ELA32841.
- Follow-up exploration activities will target uranium and Rare Earth Elements (REEs) in parallel with Lithium-Caesium-Tantalum (LCT) pegmatites.
Corporate
- Experienced geologist and mining executive, Aidan Platel, appointed as non- executive director.
- Brazilian-based geologist, Mike Sousa, appointed as Exploration Manager and Competent Person.
- The Company remains well-funded with cash at 31 March of ~$2.67m.
Solonópole Project, Ceará State, Brazil
The Solonópole Project area is located in the state of Ceará, north-eastern Brazil and consists of ten (10) exploration permits covering approximately 124km2 (Figure 1), owned by Oceana’s subsidiary Ceará Litio. The project is approximately three to four hours by road from the state capital Fortaleza and deep-water port of Pecém, and is well serviced by sealed highways and high voltage electricity.
Figure 1: Solonópole Project permits and targets drilled in May – June 2023 (red dots)
Large-Scale Soil Sampling and Geological Mapping at Solonópole Lithium Project
The large-scale infill soil sampling program that commenced in March 2023 continued over the project area (Figure 2). The optimized sampling grids are along 200m spaced lines with 25m sampling stations, aligned north south to cut across all typical pegmatite strike directions in this area.
As at 31 March 2024, over 10,300 soil samples had been collected from Solonópole and 8,741 soil samples had been analysed by X-Ray Fluorescence (XRF) for Lithium-Caesium-Tantalum (LCT) pathfinders, of which 1,908 soil samples have lab results validated by Oceana´s internal QA/QC. Anomalous lithium values above 100 ppm and up to 631 ppm were found in 383 soil samples within existing and new target areas.
Click here for the full ASX Release
This article includes content from Oceana 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.
Results From First Drilling at Abbotts North Confirm LCT System
Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) advises that results have been received from the first drilling program at Abbotts North located 35km north of Meekatharra, Western Australia. The results show elevated lithium across the stacked pegmatites of up to 0.41% Li2O (24ANR007), confirming the continuation of the LCT system down depth and along strike.
HIGHLIGHTS
- Assay results from Abbotts North confirm continuation of LCT system
- Focus shifts to targets identified to the north and east of previous drilling
- Field work over these newly identified areas has commenced
- Premier1 is fully funded for second phase exploration in these areas
A total of 11 RC holes for 1,623m were drilled to test the main outcropping pegmatites at the Buttamiah Prospect. Additional studies of the outcropping pegmatites in the larger Buttamiah Prospect area including fractionation vectoring using K/Rb ratios suggest the core of the system to be located to the east of the previous drilling.
In addition, the data indicate that LCT pegmatites occur within the granites to the north of the drill area. Further mapping and sampling of pegmatites in these areas as well as over the remaining tenement package has commenced. Focus is to delineate drill targets of higher grades and greater thickness that have the potential to form a significant lithium deposit within the existing LCT system.
Premier1 is fully funded for any subsequent phase two drilling program.
Figure 1: Cross-section of intercepted pegmatites showing significant results >0.05% Li2O.
Figure 2: Geological map of the Buttamiah Prospect with collar locations of completed RC drilling.
Significant intercepts from RC drilling undertaken on the Abbotts North project in February 2024 are shown in Table 1a. Drill collar details are shown in Table 1b.
Click here for the full ASX Release
This article includes content from Premier1 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.
Analyst Firm Targets Share Price Upside for Lithium Universe as Refinery Plans Ramp Up
Description:
Australian investment research firm East Coast Research is estimating a more than 150 percent upside in the share price of Lithium Universe (ASX:LU7) over 12 months, from its current price of $0.21 per share to about $0.53 per share.
“Drawing on its expertise, LU7’s Dream Team is working on closing the massive gap in downstream lithium processing in North America by building a 16,000 tpa lithium carbonate refinery in Quebec, for which the company is rapidly completing a DFS (definitive feasibility study,” said East Coast Research analyst Behzad Golmohammadi in his report.
Led by lithium pioneer Iggy Tan, Lithium Universe has assembled a team of lithium industry experts that can deliver on the company’s goal to strengthen North America’s lithium supply chain. Through this expertise, Lithium Universe aims to close a widening lithium processing gap in North America, through a planned 16,000-tpa lithium carbonate refinery in Quebec, Canada, the analyst report cited. Lithium Universe is currently undertaking a definitive feasibility study for the processing plant.
China currently controls around 60 percent of the global lithium refining capacity for batteries, a huge driver for North American efforts to a lithium supply chain for the region.
“Western governments have come up with policies and strategic plans to support the expansion of their lithium refining capacities. However, the biggest challenge here is a lack of expertise that has led to a series of recent failures and delayed startups in the sector. This is where LU7’s Dream Team shines with its proven track record of successfully constructing and commissioning such projects,” the analyst report said.
Report highlights:
- Lithium Universe’s “dream team” of lithium industry experts led by Iggy Tan is working on closing the massive gap in downstream lithium processing in North America by building a 16,000 tpa lithium carbonate refinery in Quebec, Canada, for which the company is rapidly completing a definitive feasibility study.
- Lithium Universe plans to replicate the Jiangsu Lithium Carbonate Refinery, using the same engineering manager (Hatch) and the key executives who built the world-class Jiangsu Refinery.
- China’s dominance in the global lithium supply chain has pushed governments in North America to develop and strengthen a secure supply chain outside China, with strategic support for projects that expand North America’s lithium refining capacity.
- East Coast Research has valued Lithium Univers at AU$0.047 per share in a base-case scenario and AU$0.058 per share in a bull-case scenario, solely based on the Quebec lithium carbonate refinery project, and excluding the company’s prospective exploration assets or its spodumene concentrator project in Quebec.
For the full analyst report, click here.
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Acquisition of Laguna Verde Licences
CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing lithium projects in Chile, is pleased to announce it has completed the planned acquisition of the 23 Laguna Verde licences (the "Licences") previously subject to an option agreement resulting in the Company now having full ownership, as well as control, of the full 108 mining licences comprising the Laguna Verde project.
The decision to take full ownership of the Licences, details of which were contained in the Company's AIM Admission Document dated 11 March 2022, in the Directors' opinion, enhances the potential future returns to shareholders, while reducing risk, given the asset's now relatively advanced stage. The Company has also been advised that taking full ownership of the Licenses clears the path for the planned dual-listing on the Australian Securities Exchange ("ASX").
The Company has also issued convertible loan notes ("CLNS") to raise gross proceeds of £1 million for the Company on what the Directors believe are advantageous terms. Further details of the CLNs are set out below.
Highlights:
- CTL enters into a sale and purchase agreement ("SPA"), now taking full ownership of Licences that were previously held by way of an option agreement
- The SPA caps payments to the vendors of the Licences ("Vendors"), enhancing potential future returns to CTL shareholders and reduces the potentially unlimited shareholder dilution risk under the previous option terms
- CTL has been advised that taking full ownership of the Licences, under the SPA, clears the path for the ASX listing
- Staged payments to the Vendors under the SPA will be budgeted in the normal course of business over a period of up to 10 years, with the first payment having been funded through an un-secured, three-year £1m convertible loan notes on attractive terms
- The later contingent staged payments will be funded either as a very small part (~1%) of the construction finance for Laguna Verde or from sales revenues after sales of 10,000 tonnes and 35,000 tonnes of lithium carbonate equivalent (LCE) have been achieved from Laguna Verde production (estimated at approximately 2-3% of revenues from those sales volumes)
- The new commercial arrangements for the Licences provide clarity on the timing and amounts payable for the Licences and no longer include a subjective mechanism for calculating the amounts due to the Vendors or involve any payments in CTL ordinary shares.
- With CTL now owning 100% of all the 108 licences covering the Laguna Verde Project, this will support CTL's CEOL applications and further clear the path to production.
Steve Kesler, Chairman and Interim Chief Executive Officer, CleanTech Lithium PLC, said:
"Acquiring the 23 Laguna Verde licences under new commercial arrangements, so the Company has full ownership as well as control, is a prudent decision, which will support potential long-term returns to investors. The Company has also been advised that gaining full ownership of the licences will clear the path for the dual-listing on the ASX. While the timing of this decision has been driven by the ASX listing requirements, it was always planned to make these changes for commercial reasons and to provide our shareholders and potential strategic parties with clarity on the ownership position and amounts payable over time. The Board is pleased to have reached agreement with the Vendors on this matter and thanks them for their flexibility over the course of the past few months.
"Having been offered attractive terms by a third party to fund the first staged payment through a convertible loan facility, the Board felt it was prudent to take up this offer, allowing us to continue to focus our existing resources on our ongoing and planned work programmes. We are grateful to the new convertible loan note holder who has demonstrated real confidence in our plans.
"I would also like to recognise and thank our previous CEO, Aldo Boitano, for his crucial role in bringing both these agreements to a successful conclusion.
"Now that these changes have been made, we will look to dual-list on the ASX, with the relevant documentation on this now being under way. We will update our shareholders on this in due course when the application has been made."
Summary:
The original option agreement, entered into with the Vendors of the Licences in April 2021, gave CTL the exclusive right to acquire 100% of the Licences within a 5-year period. As detailed in the Company's AIM Admission Document dated 11 March 2022, this agreement also gave the Company complete control of the Laguna Verde project area as it owned and controlled all other licences comprising the project.
The option agreement that was established is a standard commercial structure within the mining industry and, given the Vendors already owned the 23 licences at that time, it represented an effective mechanism for the Company to gain full control of the Laguna Verde asset in 2021.
The option agreement fully complies with Chilean law and is in-line with UK listing requirements. CTL was, however, advised by the ASX authorities that such an agreement does not conform to current ASX listing rules as it does not provide ownership of at least 51% of all licences on a company's "flagship assets". The timing of this change from an option agreement to a mining licence SPA is being driven by the need to comply with ASX listing rules.
The Board has consistently believed, however, that it would be advantageous to replace the option agreement with full ownership prior to seeking strategic investors and construction finance for Laguna Verde. As such, the timing of this change is not materially different to that planned.
The Board believes this change is in the best interests of the Company and its shareholders as it represents an effective transfer of potential long-term value to shareholders at a time that minimises risk, given the progress made at Laguna Verde and the now evident potential value of that asset as detailed in the Scoping Study released in January 2023.
Under the option agreement, CTL was required to pay the Vendors a percentage of the commercially extractable lithium reserves value from the Licences, on or before maturity in March 2026, with determination of this value being undertaken by an independent expert. This approach reduced upfront risk during the asset's early stages of development but potentially opened the Company to a balloon payment on maturity, of which 80% was to be made in CTL ordinary shares. This represented future financial and dilution risk and negotiations in relation to reserve valuation exposed CTL to potentially protracted discussions and legal debate.
The replacement of the option agreement with the SPA provides clarity on future payments to the Vendors of Licences, capped at a total value of US$35.0 million, with staged payments as detailed below, and the two largest payments being payable out of production revenue. Under the SPA, the last contingent payment should be made within 5 years of the previous contingent payment, with all payments having been made within 10 years from the date of the execution of the SPA (i.e. by 19 April 2034). CTL has been advised it also clears the path for the ASX listing given the Company now has full ownership of the Laguna Verde licence area rather than control through an option agreement.
The initial staged payment of US$1.25m has been settled through £1m unsecured convertible loan notes, with subsequent staged payments already budgeted for as part of the Company's business plans. Based on the cashflow model, as outlined in the Laguna Verde Scoping Study, the two largest production-based payments are expected to account for between 2-3% of production revenue from those specific sales of 10,000 tonnes LCE and then 35,000 tonnes LCE.
The CLNs are on favourable terms, reflecting confidence in the Company's future returns profile, with the conversion price being the lower of a 50% premium to the 30-day Volume Weighted Average Price ("VWAP") of the ordinary shares prior to the conversion notice, or 30 pence per ordinary share. The interest rate is the Sterling Overnight Index Average rate, administered and published by the Bank of England, plus three (3) per cent. The CLN also allows the Company to focus its current cash resources on its operational and technical work programmes, rather than using them to make staged payments under the SPA.
An interview with Gordon Stein, CFO, explaining the new arrangements will be made available soon.
Background Details:
Laguna Verde is the Company's flagship and most advanced project located in Chile. The project comprises 108 licences with a JORC compliant resource of 1.8 million tonnes of LCE, with a Measured & Indicated resource of 1.1 million tonnes. The Licences subject to the SPA are carried in the Company's books in its unaudited interim statement as of 30 June 2023 at £11.0 million under "exploration and evaluation assets" representing the Company's expenditure on these assets to that date.
The Company's wholly owned subsidiary in Chile, Atacama Salt Lakes SpA ("ASL"), holds in its name 85 licences over the Laguna Verde project as well as being party to the option agreement relating to the further 23 mining licences covering the Laguna Verde Project (see details of the Option Agreement in Schedule 1).
The nature of option agreements in Chile means that the option-holder had the exclusive right to acquire 100% of the relevant mining licences within a defined period of time by making certain payments, as detailed in the option agreement, normally based on achieving certain milestones or performance criteria.
ASL has met all payments due to date on the option agreement and had until April 2026 to exercise the option and make the due payments, which would have involved a mixture of cash payments and ordinary shares in the Company at that time. Details of what those payments would have involved are outlined in Schedule 1.
The Licences under option agreement were deemed by the ASX to be a key part of the Laguna Verde Project, which it considered to be the Company's "flagship asset", hence the need for ASL to own at least 51% of the Licences at the time of the listing.
ASX confirmed to the Company's Australian lawyers in Q1 2024 that the proposed new terms under the SPA should meet the requirements of the ASX listing, to own more than 51% of all the licences at all times, and that the payment of the first instalment to the Vendors should immediately address these requirements, enabling the Company to proceed with its planned dual-listing on the ASX.
SPA summary:
- The option agreement relating to the 23 licences has been terminated and replaced with a new SPA executed on 19 April 2024 to acquire 100% of these Licences. The Licences will be held under the Company's new wholly owned subsidiary in Chile, CleanTech Laguna Verde SpA ("CLV"). CLV will only hold the Licences and not the Laguna Verde project.
- First staged payment of US$1.25 million was made to the Vendors upon execution of the SPA and a further five fixed payments will be made on a defined time basis, between 6 - 60 months after the SPA execution date, totalling a further US$9.25 million.
- Only after commencement of sales of lithium carbonate equivalent ("LCE") from Laguna Verde, two further contingent payments will become payable to the Vendors (the "Contingent Payments"): (i) US$6.5 million once sales totalling 10,000 tonnes LCE have been made and (ii) US$18 million once cumulative sales totalling 35,000 tonnes LCE have been made. At this point, these payments are expected to equate to around 2-3% of the sales values of those volumes of LCE at the time, assuming a long-term LCE sales price of around US$22,500/tonne.
- Schedule of staged payments:
Milestone | Amount (US$) | Event of Default Reversion Interest |
Fixed Payments: | ||
Upon SPA execution and transfer of the Licences to CLV - already paid | 1,250,000 | 0% |
6 months after SPA execution | 1,250,000 | 49% |
18 months after SPA execution | 1,000,000 | 49% |
30 months after SPA execution | 1,000,000 | 49% |
42 months after SPA execution | 1,000,000 | 49% |
60 months after SPA execution or within 60 days of commencing the start of construction of the plant facilities at Laguna Verde - whichever comes first | 5,000,000 | 49% |
Total Fixed Payments | 10,500,000 | |
Contingent Payments: | ||
Within 60 days of cumulative sales of 10,000 tonnes LCE from Laguna Verde having been achieved (which would be equivalent to sales revenues for ASL of US$225 million at a LCE sales price of US$22,500/tonne LCE) (1) | 6,500,000 | 40% |
Within 60 days of cumulative sales of 35,000 tonnes LCE from Laguna Verde having been achieved (which would be equivalent to sales revenues for ASL of US$787.5 million at a LCE sales price of US$22,500/tonne LCE) (1). This payment to be made no more than 5 years after the previous contingent payment and all payments must be made within 10 years of the date of the SPA. | 18,000,000 | 30% |
Total Contingent Payments | 24,500,000 | |
Total Payments | 35,000,000 |
Note (1): US$22,500 was the long-term LCE price included in the Laguna Verde Scoping Study and is still consistent with current long-term analyst price data.
- CLV will be managed and governed by Directors appointed by CTL, in-line with practices for wholly owned subsidiaries and as long as ASL continues to meet the staged payments to the Vendors on time, with no Event of Default occurring, ASL will retain 100% ownership of CLV and the Vendors will not be involved in the management or operations of CLV.
- In the event ASL should default on any staged payments, within 30 days of a default remedy period, ASL will be required to issue shares of up to 49% in CLV and establish a governance framework for CLV which comprises standardised elements for jointly operated entities including a shareholder agreement, Board of Directors, etc., which will protect the interests of the parties.
- In the Event of Default, a clawback mechanism will be in place to allow CTL to acquire back the shares without penalty by paying the default amount due including accrued interest. The shares held by the Vendors in CLV will then be acquired back by ASL.
Convertible Loan Notes ("CLNS" or "Convertible Notes"):
On 19 April 2024, the Company has issued the CLNS to a high-net-worth investor ("Noteholder") to raise gross proceeds of £1 million for the Company on what the Directors believe are advantageous terms.
Further details of the CLNS are set out below:
- The Noteholder has the right at any time to convert each Convertible Note, subject to a minimum denomination value of GBP £50,000, into ordinary shares in the Company by giving the Company 10 business day's written notice of its intention to convert ("Conversion Notice").
- The CLNS can be converted at any time into ordinary shares in the Company at the conversion price ("Conversion Price"), which is the lower of:
- a 50% premium to the 30-day Volume Weighted Average Price (as reported by Bloomberg) of the Shares ("VWAP") prior to a conversion notice; or
- £0.30 per ordinary share.
- The CLNS have a maturity date of 19 April 2027 ("Maturity Date").
- Interest will accrue daily and be calculated on the Denomination of the Convertible Notes outstanding. It will not include, and therefore not compound, any accrued interest. The interest rate is the Sterling Overnight Index Average rate, administered and published by the Bank of England, plus three (3) per cent.
- The Noteholder will have the option to have interest settled in cash on a semi-annual basis. Any interest not cash settled will be accrued and added to the balance owing to the Lender at the maturity date or at the time of any conversion.
- The Company may choose to early repay the outstanding balance of the CLNS at any time up to Maturity Date by providing at least 30 days' written notice to the Noteholder(s) ("Early Repayment Notice"). The settlement amount for early repayment will equal the amount of the CLNS outstanding, plus any accrued and unpaid interest at the date of the Early Repayment Notice, plus any interest which would have accrued on the outstanding CLNS outstanding up to the Maturity Date had the early repayment not occurred.
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Gordon Stein, Director and CFO.
For further information contact: | ||
CleanTech Lithium PLC | ||
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 | |
Or via Celicourt | ||
Celicourt Communications | +44 (0) 20 8434 2754 | |
Felicity Winkles/Philip Dennis | cleantech@celicourt.uk | |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish / Asia Szusciak | +44 (0) 207 628 3396 | |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 207 523 4680 | |
Fox-Davies Capital Limited (Joint Broker) | +44 (0) 20 3884 8450 | |
Daniel Fox-Davies |
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 sustainable lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to produce material quantities of sustainable battery grade lithium products using Direct Lithium Extraction technology powered by renewable energy. The Company plans to be a leading supplier of 'green' lithium to the EV and battery manufacturing market.
CleanTech Lithium has two key lithium projects, Laguna Verde and Francisco Basin, and holds licences in Llamara and Salar de Atacama, located in the lithium triangle, a leading centre for battery grade lithium production. The two major projects: Laguna Verde and Francisco Basin are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have direct access to existing infrastructure and renewable power.
CleanTech Lithium is committed to using renewable power for processing and reducing the environmental impact of its lithium production by utilising Direct Lithium Extraction with reinjection of spent brine. Direct Lithium Extraction is a transformative technology which removes lithium from brine, with higher recoveries than conventional processes. The method offers short development lead times with no extensive site construction or evaporation pond development so there is minimal water depletion from the aquifer. www.ctlithium.com
Galan Lithium Limited (ASX: GLN) – Reinstatement to Quotation
Description
The suspension of trading in the securities of Galan Lithium Limited (‘GLN’) will be lifted immediately following the release by GLN of an announcement regarding an update on government permitting.
Issued by
ASX Compliance
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.
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