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Appendix 5B Cash Flow Report
Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) has released its Quarterly Cash Flow Report.
Click here for the full ASX Release
This article includes content from Lithium Power International, 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.
Appendix 5B Cash Flow Report June 2023
Lithium Power International Limited (ASX:LPI) (“LPI” or “the Company”) has released its Quarterly Cash Flow Report.
This article includes content from Lithium Power International, 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 Period Ending 31 March 2024
Avenira Limited (ASX: AEV) (“Avenira” or “the Company”) is pleased to provide its Activities Report for the quarter ending on 31 March 2024 (“the Quarter”).
Highlights
- During the Quarter, Sichuan Hebang Biotechnology Corporation Limited (“Hebang”) was progressing a Scoping Study for the development and operation of the Yellow Phosphorus Plant (“YP”) at Wonarah. The YP Scoping Study will form the basis for Avenira and Hebang to negotiate binding agreements covering the funding, construction and offtake of the YP Project.
- Successful capital raising announced on 18 March 2024 with gross proceeds of $1.251 million and net proceeds to AEV of $1.193 million (Capital Raising).
- The Company repaid the secured convertible loan owed to Au Xingao Investment Pty Limited including principal, interest and costs.
Events Subsequent to the Quarter
- Advanced Lithium Electrochemistry Ltd (“Aleees”) and Avenira agreed to deferral of the two remaining USD$750,000 tranches owing under the License and Technology Transfer Agreement entered into on 26 September 2023 until 1 January 2025 and 1 April 2025.
- Hebang has provided to Avenira a draft executive summary of the YP Scoping Study which is currently under review by Avenira.
Yellow Phosphorus Project
On 4 December 2023, Avenira announced that it had secured a binding strategic equity investment of A$2 million and a non-binding Strategic Cooperation and Offtake Memorandum of Understanding (“MOU”) from Sichuan Hebang Biotechnology Corporation Limited (“Hebang”)1.
The MOU outlined Hebang’s commitment to contribute to the investment, construction and operation of a Yellow Phosphorous Plant at Wonarah with an initial nameplate capacity of 50ktpa.
The Scoping Study will leverage on Hebang’s extensive experience and capabilities in building, commissioning and operating plants around the world.
Avenira will provide further details regarding the YP Scoping Study upon Hebang and Avenira agreeing to its findings.
Hebang is a company listed on the Shanghai Stock Exchange with over 6,700 employees, that focuses on the manufacture of agricultural (including feed nutrients and herbicides) and photovoltaic products. Its products assist in weed control and increase yields in food crops to feed the world’s growing population, with yellow phosphorus being one of its key ingredients in the manufacturing process.
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This article includes content from Avenira 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 Report - March 2024
HIGHLIGHTS
Previous Galaxy Resources CFO Joins Lithium Universe Team
- Appointment of Mr John Sobolewski as CFO
- Highly experienced in modelling DFS stage projects
- Previously CFO of Galaxy Resources
- Previously CEO of Mintrex
- Instrumental in the funding of Mt Cattlin Mine and Jiangsu Refinery
Comprehensive Test Program For Lithium Carbonate Refinery In Progress
- Metallurgical testing on various international sources of spodumene
- Spodumene feedstock optionality whilst Canadian supply develops
- Targeted Refinery site has river and port access for global spodumene supply
- First program achieves 99.7% LiCO3 above the battery grade spec of 99.5% LiCO3
Lithium Universe Secures Quebec Prime Industrial Land For Lithium Refinery
- Secured prime industrial property in the Bécancour Waterfront Industrial Park (BWIP)
- Strategic location, hydroelectricity, gas, road, rail, and spodumene import facilities
- The site has the capability for three 16,000 tpa Lithium Carbonate refineries
- Located within 1km of General Motors/POSCO Cathode factory and Ford/EcoPro BM Cathode factory and 140km from Northvolt's EV battery facility at Saint-Basile-le-Grand
- Favourable terms including no option fee until July 2024 and option term of 3 years
Completion of Port Study for Spodumene Import to Lithium Carbonate Refinery
- Completion of port study focussed on identifying optimal import of spodumene to Bécancour Lithium Refinery
- Spodumene feed, to be sourced from within Canada or external locations such as Brazil, Africa, or Australia
- Ability to directly import spodumene into the Bécancour lithium refinery
- Trois-Rivières, Sorel, Québec, Montreal, and Bécancour ports evaluated
- Preferred port for the project will be the Bécancour port
Lithium Universe Launches Share Purchase Plan
- Share Purchase Plan (SPP) offered to raise working capital and reward former Mogul Games Group Limited and IPO shareholders
- SPP at an issue price of $0.02 per share
- Represents a 9.09% discount to the closing price of $0.022 per share on 12 March 2024 and a 9.09% discount to the 5-day VWAP prior to the announcement
Closing the Lithium Conversion Gap in North America
- Lithium Universe to play pivotal role in closing the lithium conversion gap
- Target conversion contracts with OEMs who have spodumene off take
- Target "take or pay" agreements with OEMs to reduce market/price risks
- LFP batteries expected to capture 87% of the ESS market share by 2033
- Strong Federal and Provincial government financing support within the industry
- Lithium Universe committed to building through the lithium cycle
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This article includes content from Lithium Universe 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.
QXR Quarterly Activities Report for Period Ended 31 March 2024
HIGHLIGHTS
Liberty Lithium Brine Project, USA
- Two diamond drillholes were completed with numerous brine aquifers intersected in drillhole #2 and a similar geological sequence to Albemarle’s nearby producing Silver Peak lithium brine deposit in Clayton Valley USA.
- Detailed downhole geophysics and packer sampling are being analysed by brine specialists.
- QXR entered into a Letter of Intent with Stardust Power Inc., a development stage American manufacturer of battery-grade lithium products, to assess the Liberty Lithium brines.
Pilbara Iron Ore Project
- Encouraging Iron Ore Samples with up to 58.5% Fe in rockchip samples were returned from over 4km of a Banded Iron Formation (BIF) at Western Shaw, together with a comprehensive review of prior exploration.
Gold Projects – Queensland
- QX Resources holds gold project areas within the Drummond Basin that include two historical open pit gold mines. A detailed review is underway due to the success of a previous trenching program (Big Red and Red Dog) and significant anomalies nearby.
OPERATIONS
Liberty Lithium Brine Project, USA
The Liberty Lithium Brine Project, located in SaltFire Flat, California, covers contiguous claims over 102km2 (25,300 acres), being one of the largest single lithium brine projects in the USA (Figure 1). The Company entered an Option to Purchase Agreement and an Operating Agreement to earn a 75% interest in the large scale Liberty Lithium brine project in California, USA, from vendor IG Lithium LLC (ASX announcement 5 October 2023). An extensive lithium brine surface anomaly with elevated lithium results up to 215mg/L Li extends over 10km (ASX announcement 26 July 2023). Geophysical analysis shows a large basin over 1,000 metres deep and indicating brine aquifer targets at depth. The Project’s geological setting mirrors Albemarle’s nearby producing Silver Peak lithium brine deposit in Clayton Valley USA 1.
Two vertical diamond drill holes were completed (369m & 443 metres depth), spaced 4km apart (Figure 2,3). Holes were centred over an extensive lithium brine surface anomaly and significant MT geophysical target, interpreted as a series of conductive brine bearing aquifers at depth. Brine horizons were intersected in both holes with numerous brine aquifers intersected in drillhole #2 (ASX announcement 8 Feb 2024).
Fine grained lake sediments with sandy layers were common from the top of hole underlain by gravels, conglomerates and coarse alluvial fan material. The geology intersected is similar in profile to the producing sequences of Clayton Valley NV, where Albemarle’s producing lithium brine deposit is located.
Detailed downhole geophysics and brine sampling was conducted with specific aquifers sampled using packer sampling. The intervals were determined from the downhole geophysical and geological logs.
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This article includes content from QX Resources, 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/Appendix 5B Cash Flow Report
Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) Pursuit Minerals Limited (ASX:PUR) (Pursuit or the Company) is pleased to present its activities report for the quarterly period ended 31 March 2024.
HIGHLIGHTS
1. Commencement of Stage 1 Drilling Program at the Rio Grande Sur Lithium Project.
2. Completion of commissioning of Lithium Carbonate Pilot Plant.
3. Discussions underway with provincial Government for evaporation pond environmental permitting.
4. $1.36 million in cash and equivalents available at quarter end.
PROJECT DEVELOPMENT
During the March 2024 quarter, Pursuit Minerals Ltd (“Pursuit” or “Company”) has continued to advance through numerous engineering and geological studies, permitting approval processes and stakeholder engagement activities at our flagship Rio Grande Sur Lithium Project.
Rio Grande Sur (RGS) Lithium Project Argentina
The Rio Grande Sur Project comprises of 5 tenements prospective for lithium on the Rio Grande Salar in the Salta province of Argentina, in addition to a Lithium Carbonate Pilot Plant located in the city of Salta. The five tenements cover approximately 9,233 hectares (Table 1).
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This article includes content from Pursuit Minerals, 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.
Jindalee Advances US Government Funding for McDermitt
On 30 January 2024, Jindalee Lithium Limited (Jindalee, the Company) lodged its December 2023 Quarterly Activities Report, which summarised activities undertaken at the Company’s 100% owned McDermitt Lithium Project located in Oregon, USA (Project)1. McDermitt is currently the largest lithium deposit in the USA by contained lithium in Mineral Resource and is a globally significant resource with the potential to supply lithium carbonate equivalent (LCE) to US supply chains for decades2 (Table 1).
- Grant applications lodged with two US Government agencies (Defense and Energy) with strong support from state politicians, agencies and potential industry partners.
- Substantial Government funding for US critical mineral projects continues.
Jindalee is pleased to provide an update on US government funding opportunities for McDermitt.
Grant applications lodged with two US Government agencies (Defense and Energy)
Jindalee advises that the Company has lodged applications for non-dilutive grant funding with both the Department of Defense (DoD) and the Department of Energy (DoE) (Battery Manufacturing and Recycling Grant).
If successful, the DoD grant application is expected to co-fund an accelerated Feasibility Study and associated drilling and testwork, whilst the DoE grant application is designed to potentially co-fund the engineering, procurement, construction and development of a lithium processing facility at McDermitt.
Both grant applications have passed initial reviews by the agencies. The DoE grant application was accompanied by letters of support from Oregon and Nevada politicians and agencies, as well as potential Project partners.
The Company expects to provide updates regarding the status of applications and any potential award decision in the second half of 2024.
Substantial Government funding for US critical mineral projects continues
The US Government is committed to securing a domestic supply for critical minerals to reduce reliance on foreign sourced materials, including lithium, and is providing significant support and funding via the Inflation Reduction Act, the Defense Production Act and other initiatives as recent developments indicate.
On 14 March 2024 Lithium Americas Corp (TSX: LAC, Market Cap: C$1.5bn6) announced that it had received a conditional commitment from the DoE for a US$2.26 billion loan for financing the Phase 1 construction of processing facilities at the Thacker Pass Lithium Project3, located approximately 30km south of McDermitt (Figure 1). The loan, anticipated to cover approximately 75% of Thacker Pass’s initial capital cost, offers favourable terms with an interest rate equivalent to the US Treasury rates (0% spread) and a tenor of 24 years.
On 8 April 2024 Perpetua Resources Corp (TSX: PPTA, Market Cap: C$538m6) announced that it had received a Letter of Interest from the US Export-Import Bank for potential debt of up to US$1.8 billion for capital funding of the Stibnite Gold and Antimony Project in Idaho, USA4. This follows earlier grants of up to US$59.4 million received by Perpetua Resources from the DoD to assist with construction readiness and permitting of the Stibnite Project5.
Jindalee’s CEO Ian Rodger commented “We are very pleased with the progress of our grant applications for the McDermitt Lithium Project, particularly with the strong backing we’ve received from key stakeholders, including US politicians and potential Project Partners. The support for our applications highlights the strategic importance of our Project and its alignment with US national interests. These non-dilutive grants, if successful, promise to significantly enhance equity returns, reinforcing our strategy and amplifying the value we deliver to our shareholders.
Table 1 – Summary of 2023 McDermitt Mineral Resource Estimate at the reporting cut-off of 1,000ppmNote: totals may vary due to rounding. (Lithium carbonate equivalent (LCE) is calculated by taking the lithium value and multiplying by 5.323 to determine the molar equivalent in standard industry fashion).
Figure 1 – McDermitt Caldera: Location of McDermitt and Thacker Pass projects
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This article includes content from Jindalee Lithium 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.
Uranium Anomaly Delineated by Soil Results at Napperby Project
Oceana Lithium Limited (ASX: OCN, “Oceana” or “the Company”) is pleased to announce that the results of recent soil sampling have defined a uranium anomaly in excess of 4.5km in length and up to 700m in width at its 100% owned Napperby Project in the Northern Territory, Australia.
Highlights
Napperby Project, Northern Territory, Australia
- Soil sampling results have delineated a large uranium anomaly in excess of 4.5km in length and up to 700m in width
- Re-examination of hyperspectral data by HyVista supports ‘roll-front’ style uranium mineralisation interpretation for the anomaly
- Follow-up mapping of the identified uranium and sulphide targets to commence, with results to refine / generate drill targets
- Field exploration activities will assess lithium-caesium-tantalum (LCT) pegmatites potential along with uranium and Rare Earth Elements
The Napperby Project is located within the highly prospective Arunta Province, which is endowed with some of the most prospective rocks for lithium (Li), Rare Earth Elements (REEs) and uranium (U) mineralisation in the Northern Territory.
As announced on 21 February 2024, the Paleoproterozoic Wangala and Ennugan Mountains granites have long been recognised as “Hot Granites” and known to be anomalously enriched in a range of elements including U, thorium and REEs. Both granite plutons show outstanding uranium/thorium ratios and are almost fully encapsulated within Oceana’s Napperby Project leases EL32836 and ELA32841 (under application), as shown in Figure 1.
A soil geochemistry infill sampling program was completed during the December quarter in the southeast corner of EL32836 to better define and understand the lithium anomalies highlighted by the 2022 soil sampling program (refer to ASX Announcement dated 28 November 2022).
A total of 107 samples were collected in the last campaign at 200m spacings for approximately 30 line-km, infilling the previous 2km line spacing to 500m. Although initially targeting lithium, the results from the soil sampling have defined a large arcuate uranium anomaly, as shown in Figure 2.
Figure 1: Map showing U/Th ratios and known uranium, thorium and REE mineral occurrences at Napperby Project
Figure 2: Large uranium anomaly in soils - Line spacing is 500m and sample centres of 200m
The uranium anomaly is mostly covered by Quaternary sediments and residual soils. The relatively low absolute values for the anomaly (500 – 3,680ppb U) are the result of using mobile metal ion sampling techniques which enables field teams to sample large areas without the need to carry large heavy samples around in the field. Because the samples are not crushed and pulverized, it is only unbound or weakly attached metal ions that are removed from soils and as such it is not the absolute values of elements that are of interest but the relative differences of values within a given data set.
Modelling and interpretation of the available hyperspectral data at Napperby was completed by HyVista Pty Ltd (HyVista). Modelling of the geochemical alteration zones interpreted from the hyperspectral data relative to the uranium surface anomaly confirmed that the anomaly has the potential to host significant “roll-front” type uranium mineralisation.
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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.
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