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Exploration Program Commences On 8km Pegmatite Trend At Gullwing-Tot Lake Property
Lithium development company Critical Resources Limited ASX:CRR (“Critical Resources” or “the Company”) is pleased to announce the commencement of its spring exploration program at the Company’s 100%-owned Mavis Lake Lithium Project in Ontario, Canada.
Highlights
- Field teams have commenced mapping and sampling of the Gullwing-Tot prospects in the North-Eastern portion of the Mavis Lake Lithium Project Area
- The area demonstrates clear scale potential with over 8km of pegmatites clusters along the Gullwing Lake-Tot Lake LCT outcrops
- Historical sampling and mapping to be validated, along with identification of priority targets for the summer drilling campaign
- The work program will initially focus on the previously mapped, spodumene bearing Gullwing and Tot pegmatites - both demonstrate scale potential due to the size and width of outcrops
- Gullwing-Tot prospects add immediate growth potential to the Mavis Lake Project, in parallel with ongoing infill and extension drilling of the Mavis Lake Resource
The initial stage of the 2023 spring program is designed to confirm spodumene mineralisation across known pegmatite showings, validate historical mapping of known LCT-Type pegmatites, identify regional trends of pegmatites along the prospective area, and identify priority targets for the summer drilling campaign.
Field work will include geological mapping of outcrops and bedrock sampling. Field work is being guided by historical exploration data as well as more recent remote sensing interpolation to identify additional outcrop locations.
The field teams’ immediate focus is on the known spodumene-bearing pegmatites Gullwing Lake and Tot Lake, which can be seen in Figures 1 and 2 respectively.
Figure 1 – Field team sampling the Gullwing Lake Pegmatite (outcrop identified in grey shading)
Figure 2 – Field team sampling the Tot Lake Pegmatite (outcrop identified in grey shading)
About the Gullwing-Tot Prospects
The Gullwing-Tot prospects are located with the Sioux Lookout Terrane of the Superior Province. Pegmatites in the Gullwing-Tot Property are found within an E-NE trending cluster that has an approximate width of 0.8-2.2km and extends laterally over 8km. This prospective area consists of multiple mapped pegmatite dykes including the namesake Gullwing Lake spodumene pegmatite swarm and Tot Lake spodumene pegmatite and can be seen in Figure 3.
This article includes content from Critical 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.
Edison Lithium: Transitioning to Sodium-ion Battery Technology
Edison Lithium (TSXV:EDDY) is pivoting towards sodium-ion battery technology while maintaining interests in lithium assets in Argentina. The company is divesting its cobalt projects in Canada via a spin-off into a new publicly listed company, Edison Cobalt. After the spin-off, Edison Lithium will comprise two divisions: Edison Saskatchewan and Edison Lithium.
Edison Saskatchewan will focus on advancing the company’s ambition to become a significant participant in the sodium-ion battery technology supply chain. The company acquired four alkali dispositions from Globex Mining Enterprises in August 2023 that encompass 4,564 acres located in Ceylon Lake, Freefight Lake, and the north and south areas of Cabri Lake, in Saskatchewan, Canada.
The Edison Lithium division comprises nearly 28,766 hectares of lithium brine claims located in Catamarca, Argentina. Edison Lithium retains eight mining claims, mostly located in the Pipanaco Solar basin in Catamarca.
Company Highlights
- Edison Lithium is a Canadian junior mining company that is pivoting towards sodium-ion battery technology. The company is restructuring its business by divesting lithium and cobalt assets while acquiring concessions for alkali that hosts sodium sulphate.
- The company acquired lithium assets in Argentina in 2021, comprising 148,000 hectares of lithium brine claims, but has sold 80 percent of these claims for three times their purchase price in December 2023. It continues to hold 20 percent, or 28,766 hectares, of lithium brine claims. The transaction corresponds with the company's strategic shift towards sodium-ion technology.
- The company has received approval to spin off its cobalt project located in Ontario, Canada, into a new company, Edison Cobalt, which will be listed on the TSXV.
- After the realignment, the company will comprise two divisions – Edison Lithium, focused on the remaining lithium claims in Argentina; and Edison Saskatchewan, focused on alkali dispositions in Saskatchewan, Canada.
- The alkali dispositions were acquired in August 2023 from Globex Mining Enterprises. This move underscores the company's strategic positioning in the burgeoning sodium-ion battery market, which is increasingly seen as a promising alternative to traditional lithium-ion batteries.
This Edison Lithium profile is part of a paid investor education campaign.*
Click here to connect with Edison Lithium (TSXV:EDDY) to receive an Investor Presentation
Galan Investor Presentation Singapore March 2024
Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to present its investor presentation.
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.
Extension To Share Purchase Plan
Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7") provides the following update regarding its $3.0 million Share Purchase Plan (SPP), as announced on 13 March 2024 (ASX release: LU7 Launches Share Purchase Plan).
Highlights
- Revised closing date for the Share Purchase Plan (SPP) is to be 10th April 2024
- Directors confirm their willingness to participate in the SPP
The Company has received feedback from several shareholders that due to the SPP closing date being just after the Easter holiday break, as well as difficulties encountered in shareholder’s taking up their entitlements, the Board has made the decision to extend the SPP offer date by one (1) week. By doing so, this will ensure that all shareholders have sufficient time to participate.
The revised indicative timetable for completion of the SPP is as follows, with the revised dates highlighted in blue *:
*Please note, the dates set out above are indicative only and are subject to change without notice to you. Any change in the timetable does not affect any rights or obligations you have as a result of accepting the SPP.
All LU7 directors who are eligible to participate in the SPP intend on taking up their SPP entitlement.
Should shareholders have any questions in participating in the SPP, including accessing their applications, then please contact the Company’s Joint Company Secretary, Kurt Laney at kurt.laney@vfassociates.com.au.
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.
Shareholders Resoundingly Support SPP
Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce the results of the Share Purchase Plan (“SPP”) announced on 31 January and 9 February 2024. The SPP was extended a week and closed at 5.00pm (AWST) on Friday 22 March 2024.
The Company received applications from eligible shareholders totalling just over $4 million which was well in excess of the original $1.5 million target raising. The demand from Galan shareholders under the SPP was testament to the continued support the Company has received from its loyal band of shareholders.
Under the SPP, eligible shareholders had the opportunity to purchase up to $30,000 worth of Galan shares irrespective of the size of their shareholding and without incurring brokerage or transaction costs. Shares issued under the SPP had an offer price of $0.46 per Share. One free attaching option (exercisable at $0.65 with a 5-year exercise period) will also be issued on the basis of one (1) option for every one (1) Share subscribed for and issued under the SPP (“Options”). The offer of Options under the SPP would be made pursuant to a transaction specific Prospectus which will be lodged with ASIC with the Company making an application to ASX for quotation of the Options.
The terms and conditions in the SPP Offer provided the Company with discretion to accept additional funds under the SPP should the Company receive valid applications over the original target amount. Accordingly, due to the overwhelming demand from eligible shareholders, the Company has exercised their discretion and increased the size of the SPP to $4.003 million.
A total of 8,702,150 fully paid ordinary shares (representing 2.2% of the current issued capital of Galan) and 8,702,150 Options will be issued under the SPP.
The Company would sincerely like to thank all its shareholders for their very strong support of the SPP.
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.
Frontier Lithium: Lithium's Long-term Outlook Strong as EV "Evolution" Continues
Speaking to the Investing News Network (INN), Trevor Walker, president and CEO of Frontier Lithium (TSXV:FL,OTCQX:LITOF) shared details on the company's recent deal with Mitsubishi (TSE:8058).
With a definitive agreement to establish a joint venture partnership in hand, Frontier will be working on progressing Phase 1 and Phase 2 definitive feasibility studies for its PAK lithium project in Northern Ontario.
Phase 1 will focus on a mine and mill, while Phase 2 will look at a downstream refinery.
"We see strong potential for 100 million tonnes through two open pits outcropped right at surface," Walker explained on the sidelines of the Prospectors & Developers Association of Canada (PDAC) convention.
"The grade is 1.5 percent roughly — it's North America's highest-grade lithium asset, and the highest-quality spodumene. These are key — this is a key anchor resource in the Great Lakes region of North America," he added.
Sharing details on the Mitsubishi agreement, Walker noted that Frontier will have a 92.5 percent interest in the joint venture, while Mitsubishi will acquire a 7.5 percent stake through a C$25 million investment. Once a definitive feasibility study is complete, Mitsubishi will be able to increase its ownership to 25 percent by buying additional shares.
He also shared his long-term outlook for the lithium market, saying he expects demand for lithium carbonate equivalent to increase by three to four times by the mid-2030s. "(Lithium's) long-term fundamentals are very strong," he said. "The movement of internal combustion to electric vehicles is — I've always referenced it as an evolution, not a revolution."
Watch the interview above for more from Walker on the lithium market and Frontier's next steps with Mitsubishi. You can also click here for INN's full PDAC playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Edison Lithium
Overview
Edison Lithium (TSXV:EDDY) is positioning itself as a key player in the supply chain of sodium-ion battery technology. Alongside this, the company has interests in lithium assets in Argentina. It is divesting its cobalt projects in Canada via a spin-off into a new publicly listed company, Edison Cobalt.
Post the spin-off of cobalt assets, the company will comprise two divisions: Edison Saskatchewan and Edison Lithium
Company Highlights
- Edison Lithium is a Canadian junior mining company that is pivoting towards sodium-ion battery technology. The company is restructuring its business by divesting lithium and cobalt assets while acquiring concessions for alkali that hosts sodium sulphate.
- The company acquired lithium assets in Argentina in 2021, comprising 148,000 hectares of lithium brine claims, but has sold 80 percent of these claims for three times their purchase price in December 2023. It continues to hold 20 percent, or 28,766 hectares, of lithium brine claims. The transaction corresponds with the company's strategic shift towards sodium-ion technology.
- The company has received approval to spin off its cobalt project located in Ontario, Canada, into a new company, Edison Cobalt, which will be listed on the TSXV.
- After the realignment, the company will comprise two divisions – Edison Lithium, focused on the remaining lithium claims in Argentina; and Edison Saskatchewan, focused on alkali dispositions in Saskatchewan, Canada.
- The alkali dispositions were acquired in August 2023 from Globex Mining Enterprises. This move underscores the company's strategic positioning in the burgeoning sodium-ion battery market, which is increasingly seen as a promising alternative to traditional lithium-ion batteries.
Key Business Divisions
Edison Saskatchewan
This division will focus on advancing the company’s ambition to become a significant participant in the sodium-ion battery technology supply chain. To achieve this, the company acquired four alkali dispositions from Globex Mining Enterprises in August 2023. These dispositions encompass 4,564 acres located in Ceylon Lake, Freefight Lake, and the north and south areas of Cabri Lake, in Saskatchewan, Canada. It has been reported that sodium sulfate is present on all the acquired assets. Sodium sulphate has applications within the battery industry, specifically in sodium-ion battery technology.
The sodium-ion battery is a rechargeable battery that relies on the movement of sodium ions to store and release energy. While there are a lot of similarities with the lithium-ion battery, the major difference is that it substitutes lithium with sodium as the cathode material. As the global quest for sustainable energy solutions continues, sodium-ion batteries are coming into the limelight as an eco-friendly and efficient alternative to lithium-ion batteries, due to the ample availability of sodium and its cost-effectiveness.
Sodium-ion batteries offer several advantages. First, sodium is abundant which translates into stable pricing and consistent availability. Second, the cost advantage means it is suitable for large-scale energy storage solutions. Third, technological benefits include enhanced safety. Lastly, sodium-ion batteries are considered more sustainable.
However, challenges such as lower energy density impede their widespread adoption. As battery technology evolves, we can see a resolution to these challenges and more mass adoption of sodium-ion batteries. Major industry players and start-ups such as Northvolt AB, Tesla, and BYD are investing in exploring sodium-ion technology.
Edison Lithium
This division comprises nearly 28,766 hectares of lithium brine claims located in the province of Catamarca, Argentina. Earlier, the company had access to 148,000 hectares of lithium brine claims but sold nearly 80 percent of these claims to Meteor Energy for three times its purchase price in December 2023. The sale to Meteor Energy comprises 29 mining concessions that span 105,699 hectares for US$5 million. Edison Lithium retains eight mining claims, mostly located in the Pipanaco Solar basin in Catamarca.
Lithium, as a mineral, has garnered significant attention due to its pivotal role in electric vehicle batteries. It stands as the most sought-after metal essential for facilitating the energy transition. The ongoing global transition from fossil fuels is expected to drive increased demand for lithium over the next decade. According to findings from the International Energy Agency, there is a pressing need for a tenfold expansion in global battery and minerals supply chains by 2030 to accommodate this demand surge. Consequently, lithium is poised to reap substantial benefits as a crucial component in battery technology.
Forecasts from mining leader Albemarle indicate that lithium demand is poised to surge to 3.7 million tons by 2030, propelled by supportive government regulations in numerous countries banning new internal combustion engine vehicle sales. With the continuous expansion of global lithium demand, Edison’s lithium mining claims offer investors a chance to engage in the rapidly expanding lithium market.
Management Team
Nathan Rotstein - CEO
Nathan Rotstein brings more than 45 years of experience in financial markets. He has consulted several companies in the energy metal sector, including lithium, cobalt, manganese and graphite. He has a rich network of international funds and high-net-worth individuals.
Dr. Luisa Moreno – COO
Luisa Moreno is a physics engineer and holds a Ph.D. in material science and mechanics from Imperial College, London. She has over 12 years of rich experience in technical and economic research. She co-founded Tahuti Global and has spent seven years as a financial and equity analyst.
Jay Richardson – CFO
Jay Richardson is qualified as a Canadian chartered accountant and certified public accountant from Singapore. He has worked as a partner with E&Y and KPMG, prior to starting his own practice. He has held senior roles, including CEO and CFO, with several companies.
Roger Dahn – Director
Roger Dahn is a professional geologist with over four decades of experience in the mining and exploration industry. He has worked with Noranda and Hemlo Gold Mines, Battle Mountain Gold, Olympus Pacific Minerals, and Tri-Star Resources. He is currently the chairman of Manganese X Energy.
Martin Kepman – Head Advisor
Martin Kepman has over three decades of consulting experience in various industries, such as software, printing, food and mining. Currently, he is the CEO of Manganese X.
Gordon Jang – Director
Gordon Jang has rich experience in various domains such as capital markets, M&A, compliance, taxation etc. He has previously worked with Fortuna Silver Mines, Lundin Mining, Augusta Resources and Pan American Silver.
This article was written in collaboration with Couloir Capital.
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