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HMW Continues To Deliver With Positive Results At Santa Barbara
Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce further advancements on its 100%-owned Hombre Muerto West Project (HMW Project) in Catamarca Province, Argentina.
Highlights:
- Exploration well completed to a depth of 455 metres.
- 72-hour airlift testing completed; average grade of 829 mg/l Li.
- Gravel and fractured breccia mainly encountered during drilling presenting great potential for a high porosity and permeability setting.
- New geophysical studies further confirm the presence of conductive (low resistivity) units, brine continuity and upside resource potential.
- Construction of 4th brine production well at HMW commenced.
- HMW Reserve model and updated resource estimate on track for DFS
Drilling activities have also commenced for three (3) new production wells in the current HMW Project resource areas, starting with production well No 4 (PBRS-03-23) at Rana de Sal I. This well is set to be drilled to an expected depth of around 380 metres proximate to a previously explored location. These three new production wells are set to complement the existing wells to ensure full brine flexibility for the extended pilot plant activities. These wells, along with the three completed wells, are expected to be part of the long-term HMW Project production infrastructure.
Galan Exploration Manager, Álvaro Henriquez, commented:
“Drilling and geophysical results from Santa Barbara have exceeded expectations in terms of brine chemistry, sedimentary thickness, and permeable lithologies. Brine continuity has also been readily demonstrated through the additional geophysical campaign conducted across those tenements. These overall Santa Barbara results deliver further strong growth potential in previously unexplored areas of our Hombre Muerto West brine deposit.”
Brine reservoir potential confirmed at Santa Barbara
Initial exploration well completed
Maiden Santa Barbara exploration well, SB-01-23, was drilled in the Santa Barbara XXIV tenement (Figure 1). This diamond drillhole was completed to 455 metres depth.
The recovered cores indicate the presence of thick gravel, sand and fractured breccia succession (Figure 2 and Table 1). These lithologies are likely associated with a high permeability aquifer.
Figure 1. HMW Project plant image. Geophysical survey (orange lines) and exploration well SB-01-23 location (red) in Santa Barbara XXIV tenement. Location of production wells marked in blue and green.Datum: Posgar 2007, Argentina Zone 3
Figure 2. Core obtained from SB-01-23
Airlift testing delivers high-grade brine
A 72-hour airlift test was conducted on well SB-01-23 over the period 10 - 13 February 2023. A total of six (6) samples were recovered during the airlift test and chemical analysis was undertaken at Alex Stewart NOA laboratory in Jujuy, Argentina.
The average extracted lithium brine grade was 829 mg/L, with observed lithium brine grade ranges between 795 and 839 mg/L (Figure 3 and Table 2).
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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Galan Lithium
Overview
Argentina is no stranger to lithium mining. The South American nation is one of three encompassed in the prolific Lithium Triangle, a region that holds more than half of the world’s lithium deposits. Argentina ranks third in the world in terms of lithium reserves at 2.2 million MT, concentrating lithium operations in the provinces of Jujuy, Salta and Catamarca.
Amidst electrification and decarbonization, analysts are forecasting a global supply deficit of 89,000 tonnes of lithium carbonate equivalent (LCE) in 2023 and the Argentinian government aims to double down on lithium to meet the increasing demand. Argentina has committed to $7 billion worth of investment for lithium production with strong growth projected for exports at $1.1 billion in 2023.
Galan Lithium (ASX:GLN, FSX:9CH) is an Australia-based international mining development company focused on its high-quality lithium brine projects in the world-class Hombre Muerto region in Argentina and its highly prospective lithium project in Australia – Greenbushes South.The company’s flagship Hombre Muerto West (HMW) project hosts some of Argentina’s highest grade and lowest impurity levels with an inventory of 6.6 million tonnes (Mt) lithium carbonate equivalent (LCE). The 100-percent-owned property also leverages close proximity to Livent Corporation’s El Fenix operation and Allkem’s Sal de Vida projects.
Pilot Plant at HMW
The pilot plant has validated the production of lithium chlorine concentrate, adding reagents to eliminate impurities, and generating a concentrate at 6 percent lithium. The plant comprises pre-concentration ponds, a lime plant, a filter press and concentration ponds.
A definitive feasibility study (DFS) for phase 2 was released in October 2023 with a 20.85 ktpa LCE operation at HMW, targeting a high-quality, 6 percent concentrated lithium chloride product (equivalent to 12.9 percent lithium oxide or 31.9 percent LCE) in 2026. The DFS also indicated phase 2 will deliver a post-tax NPV (8 percent) of US$2 billion, IRR of 43 percent and free cash flow of US$236 million per year. Phase 2 provides an exceptional foundation for significant economic upside in phases 3 and 4, targeting 60 ktpa LCE production by 2030.
Construction for phase I has already commenced for 5.4 ktpa LCE production at HMW, and aims to deliver lithium chloride production in H1 2025. The fourth long-term pumping test (PBRS-03-23) results at HMW record an outstanding lithium mean grade of 981 mg/L - the highest reported grade from a production well in the Hombre Muerto Salar.
Galan’s secondary Candelas project comprises a sizable valley-filled channel with a potential indicated presence of substantially high-volume brine characteristics. The project’s maiden resource estimates stand upwards of 685 kilotons (kt) LCE, based on surveying from October 2019, and demonstrate exceptional discovery opportunities across this underexplored asset. Candelas has been rolled into Phase 4 of Galan’s targeted expansion plans, towards 60 ktpa LCE production by 2030
Galan’s 100-percent-owned Greenbushes South Project is located in Western Australia and boasts advantageous positioning 3 kilometers south of the prolific Greenbushes lithium mine owned by Talison, Tianqi, IGO and Albermarle. Drilling of the first target was completed in July 2023. Galan is currently developing land access agreements for future drilling campaign at Greenbushes South.
In 2023, Galan entered into an exclusive binding agreement with Redstone Resources to acquire 100 percent of the Camaro-Taiga-Hellcat property blocks from Infinity Stone Ventures (CSE:GEMS, GEMSF, FSE:B2I). The assets are located in the world-class James Bay Lithium Province in Quebec, collectively covering 5,187 hectares. The joint venture also includes an option to acquire 100 percent of the PAK East and PAK Southeast Lithium Project, spanning 1,415 hectares in Ontario’s Electric Avenue near Frontier Lithium’s PAK Lithium Project.
Galan has a highly experienced management team with over a century of professional expertise in the resource, finance and energy sectors. This results-oriented board and their vested interest in the company's success prime Galan for exceptional discovery potential and advanced development of its high-quality projects.
Company Highlights
- Galan Lithium is an ASX-listed company developing lithium brine projects within South America’s lithium triangle on the Hombre Muerto salar in Argentina.
- The company has three high-quality projects in the works: its flagship Hombre Muerto West (HMW) and the Candelas lithium project, both in Argentina, and the Greenbushes South lithium project in Australia.
- The Hombre Muerto West project leverages advantageous positioning near notable mining operations, including Livent Corporation’s El Felix project and hosts exceptional high-grade lithium and low impurity resources.
- HMW Phase 2 definitive feasibility study (DFS) delivers compelling economics with 21 kilo-tonnes per annum (ktpa) lithium carbonate equivalent (LCE) operation at HMW, targeting a high-quality, 6 percent concentrated lithium chloride product (equivalent to 12.9 percent lithium oxide or 31.9 percent LCE) in 2026.
- The HMW Phase 1 (5.4 ktpa LCE) execution plan is progressing well with the delivery of the first evaporation-ready pond expected by Q1 2024, production in H1 2025.
- Geophysics has indicated Candela’s potential to host a substantial brine volume and provide significant amounts of processing water through low-grade brine treatment without using surface water from the Los Patos River.
- Galan has 100 percent ownership of the Greenbushes South lithium project, located 3 kilometers from the Greenbushes lithium mine, the largest hard-rock lithium mine in the world.
- Galan aims to transition into a major lithium project developer and remains committed to conducting fast-tracked lithium development in its prolific projects with a target production of 60 ktpa LCE from HMW and Candelas by 2030.
- The company entered into a joint venture with Redstone Resources Ltd (ASX:RDS) to acquire 100 percent of some highly prospective lithium projects in Quebec and Ontario.
Key Projects
Hombre Muerto West Project
The 100-percent-owned Hombre Muerto West project is a large land property that sits on the west coast of the Hombre Muerto salar in Argentina, the second-best salar in the world for the production of lithium from brines. The property also leverages strategic positioning adjacent to notable competitors like Livent Corp. to the east.
The project has an updated resource of 6.6 Mt LCE @ 880 mg/l lithium (72 percent in measured category.
Galan has completed a definitive feasibility study, which indicates a competitive capex of US$429 million and a low OPEX of US$3,510/t LCE, as well as a production rate of 21 ktpa targeting battery-grade lithium carbonate across the property.Galan now has 100 percent full ownership of the Catalina tenement that borders the Catamarca and Salta Provinces in Argentina. The newly secured Catalina tenure has a strong potential to significantly add to the existing HMW resource. The Catalina tenure also covers the Catalina, Rana de Sal II, Rana de Sal III, Pucara del Salar, Deseo I and Deceo II tenements.
Greenbushes South Lithium Project
The 100-percent-owned Greenbushes South lithium project is located near Perth, Western Australia, and is three kilometers south of the world-class Greenbushes lithium mine, managed by Talison Lithium. The Greenbushes South tenements can be found along the Donnybrook-Bridgetown Shear Zone geologic structure, which hosts the lithium-bearing pegmatites at the Greenbushes Lithium Mine.
Greenbushes South covers nearly 315 square kilometers, and hosts elevated pathfinder elements with well-defined anomalies adjacent to the property.
Management Team
Richard Homsany - Non-executive Chairman
Richard Homsany is an experienced corporate lawyer and has extensive board and operational experience in the resources and energy sectors. He is executive chairman of ASX-listed uranium exploration and development company Toro Energy Limited, executive vice-president of Australia of TSX-listed uranium exploration company Mega Uranium and the principal of Cardinals Lawyers and Consultants, a boutique corporate and energy & resources law firm. He is also the chairman of the Health Insurance Fund of Australia (HIF) and listed Redstone Resources and Central Iron Ore and is a non-executive director of Brookside Energy Homsany’s past career includes time working at the Minera Alumbrera Copper and Gold mine located in the Catamarca Province, northwest Argentina.
Juan Pablo (‘JP’) Vargas de la Vega - Founder and Managing Director
Juan Pablo Vargas de la Vega is a Chilean/Australian mineral industry professional with 20 years of broad experience in ASX mining companies, stockbroking and private equity firms. JP founded Galan in late 2017. He has been a specialist lithium analyst in Australia, has also operated a private copper business in Chile and worked for BHP, Rio Tinto and Codelco.
Daniel Jimenez - Non-executive Director
Daniel Jimenez is a civil, industrial engineer and has worked for a world leader in the lithium industry, Sociedad Química y Minera de Chile, for over 28 years. He was the vice-president of sales of lithium, iodine and industrial chemicals where he formulated the commercial strategy and marketing of SQM’s industrial products and was responsible for over US$900 million worth of estimated sales in 2018.
Terry Gardiner - Non-executive Director
Terry Gardiner has 25 years’ experience in capital markets, stockbroking and derivatives trading. Prior to that, he had many years of trading in equities and derivatives for his family accounts. He is currently a director of boutique stockbroking firm Barclay Wells, a non-executive director of Cazaly Resources, and non-executive chairman of Charger Metals NL. He also holds non-executive positions with other ASX listed entities.
María Claudia Pohl Ibáñez - Non-executive Director
María Claudia Pohl Ibáñez is an industrial civil industrial engineer with extensive experience in the lithium production industry. Until recently, she worked for world leader in the lithium industry Sociedad Química y Minera de Chile (NYSE:SQM, Santiago Stock Exchange:SQM-A, SQM-B) for 23 years, based in Santiago, Chile. During her time at SQM, she held numerous senior leadership roles including overseeing lithium planning and studies. Ibáñez brings significant lithium project evaluation and operational experience whilst joining the board at a critical juncture in Galan’s journey to becoming a significant South American lithium producer. Since leaving SQM in late 2021, Ibáñez has been managing partner and general manager of Chile-based Ad-Infinitum, a process engineering consultancy, with a specific focus on lithium brine projects under study and development, and the associated project evaluations.
Graeme Fox - Chief Financial Officer
Graeme Fox is an Australian CPA-qualified accountant and experienced business analyst, with over 25 years of experience in the mining, contracting and transport industries, with a focus on strategic planning, financial modeling, investment evaluation, management accounting and compliance. During the last 20 years, Fox’s career has been focused on the resources sector, including diverse roles throughout the value chain, working with BHP, WMC and Macmahon.
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.
Galan Increases Total Mineral Resource by 18% to 8.6Mt LCE @ 859mg/L Lithium
Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce a further consolidating increase to its JORC (2012) reported Mineral Resource estimate for the Hombre Muerto West Project (HMW Project) located in Catamarca Province, Argentina. The revised Mineral Resource estimate was completed by a team of leading independent geological consultants, WSP Chile (WSP).
- Galan’s 100% owned Mineral Resources increase to 8.6Mt contained lithium carbonate equivalent (LCE) @ 859mg/L Li (previously 7.3Mt LCE @852mg/L Li)
- One of the highest grade resource estimates declared in Argentina
- Inclusion of Catalina tenure adds ~1.3Mt LCE to the HMW Resource
- HMW Measured Resource of 4.7Mt contained LCE @ 866mg/L Li
- Galan’s fourth significant resource upgrade since March 2020
- Resource upgrade cements Galan’s fully owned resource base and adds flexibility, optionality and leverage to any Li price upswing and supports Galan’s 4 stage long term production target of 60ktpa LCE (including Candelas)
The maiden HMW Project Mineral Resource Estimate (refer Galan ASX release dated 12 March 2020) was prepared by SRK and was further upgraded on 17 November 2020, 24 October 2022 and 1 May 2023. Each upgrade has not only significantly increased the Total Resource inventory but also enhanced the Resource category classifications and hence confidence in the viability and robustness of the HMW project. This latest resource upgrade enhances Galan’s objective to achieve the necessary production conditions for Stage 3 (40Ktpa LCE), towards our four-stage lithium production target of up to 60ktpa LCE (including Candelas).
Table 1 Mineral Resource Statement for Hombre Muerto West and Candelas (effective date 26 March 2024)
- No cut-off grade applied to the updated Mineral Resource Estimate.
- There may be minor discrepancies in the above table due to rounding.
- The conversion for LCE = Li x 5.3228, KCl = K x 1.907.
(*) Candelas North tenements are located about 40 km to the Southeast of the HMW Project. The Candelas North Mineral Resource Statement was originally announced by Galan on 1 October 2019.
Commenting on the significant Resource upgrade, Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, said:
“This latest significant upgrade in the high grade, low impurity HMW Resource highlights the potential enormity of the brine resource that sits within Galan’s 100% owned tenements in Argentina. The initial HMW resource in March 2020 was 1.08Mt LCE @ 946mg/L Li, upgraded in May 2023 to 6.6MT LCE @ 880mg/L Li. This has now been increased a further ~20% to a tier one size of 8.6Mt LCE at 859mg/L Li, with the inclusion of our Catalina tenements. Coupled with our Candelas resource, Galan has a very solid foundation, and more importantly has delivered a further validation that its Hombre Muerto Salar resources fully support our four-stage lithium production target of up to 60ktpa LCE.
The HMW Project is robust and underpinned by strong financial metrics as illustrated in its Stage 1 and Stage 2 DFS results. We constantly evaluate opportunities to increase the value of the HMW Project in parallel with continuing to construct Stage 1 as we look forward to first commercial production in 1H 2025.”
Summary of Resource Estimate and Reporting Criteria
The Mineral Resource Estimate (MRE) for lithium (reported as Li2CO3 equivalent) and potassium (KCl equivalent) were completed by WSP (Chile). This updated MRE incorporates geological and geochemical information obtained from thirty one (31) drillholes totalling 9,043 metres within the Pata Pila, Rana de Sal I, Rana de Sal II, Casa del Inca III, Catalina, Del Condor, Pucara del Salar, Delmira, Don Martin, El Deceo I, El Deceo II, El Deceo III and Santa Barbara tenements (see Figure 1). A total of 697 brine assays were used as the foundation of the estimate, all of which were analysed at Alex Stewart International laboratory (Jujuy, Argentina). The QA/QC program includes duplicates, triplicates, and standards, In total, 376 QA/QC samples were considered using Alex Stewart (duplicates) and SGS in Argentina (triplicates) as the umpired laboratory.
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.
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.
Digitisation of Historical Datasets Reveal Multiple High- Grade Uranium & Copper Targets at Radium Point
White Cliff Minerals Limited (White Cliff or the Company) is pleased to announce early results from the digitisation and GIS integration of historic, but high quality analogue datasets for the northern half of the Radium Point Project (“the North”). The North, as the name implies, refers to the northern half of the approximately 2,9002 km Uranium (U), Gold (Au), Silver (Ag), Copper (Cu) licence area held by the Company. Results have exceeded expectations and highlight multiple large & high-grade U-Cu-Au & Ag targets, all of which will be assessed during the upcoming 2024 field work.
Highlights include:
- Examples of some of the highly anomalous rock chip assays from sampling carried out by state survey and previous operators throughout the North can be seen below. Importantly, subsequent follow up work of these exceptional results and prospects appear to be limited:
- Thompson Showing:
- 14.15% U3O8, 6.22g/t Au and 122g/t Ag
- 7.5% Cu, 1.63% U3O8, 729/t Ag and 1.56g/t Au
- 15.15g/t Au, 6.6% Cu, 2.32% U3O8 137g/t Ag, 1.11% Cobalt and 0.58% Nickel
- Spud Bay:
- 22.72% Cu, 619g/t (~20oz) Ag and 0.59 % Pb
- 11.69% Cu, 1330g/t (~40oz) Ag, 8.30% Zn and 0.44% Pb
- 6.61% Cu, 1427g/t (~45oz) Ag, 3.66% Zn and 0.35% Pb
- Bullwinkle:
- 7.43% U3O8 and 2.77% Cu
- Doghead South:
- 1.56% U3O8, 10.30% Cu, 3.68g/t Au and 34g/t Ag
- 3.85% Cu, 4.05g/t Au and 7g/t Ag
- Sparkplug Lake:
- 8.28g/t Au, 1.86% Cu and 43.4g/t Ag
- 3.97% Cu, 4.42g/t Au and 12.4g/t Ag
- 3.01% Cu, 5.37g/t Au and 2.60g/t Ag
- Thompson Showing:
Commenting on the update, White Cliff Chairman, Roderick McIllree said:
“Firstly, I would like to express my appreciation to shareholders for their patience while the Company works through the digitisation and verification process for Radium Point. It has taken considerable time to collate and verify these historical results however it has been worth the wait. Work continues on the assimilation of the remaining datasets for the balance of the 2,900 km2 licence area however the tenor of these results already gives us great confidence in our upcoming field season.
It’s important to stress that these results are from the northern half and near mine project areas only. The area to the south contains results that appear higher grade in nature with a larger surficial expression however we need more time to complete the verification process for this vast area and will release these results in due course.
I am very comfortable saying this is the most exciting multi-element project I have seen, even though this is a first pass on these near mine and regional anomalies I am confident we are well placed to make significant discoveries on our ground during 2024.
Utilising this new database of geophysical targets alongside surface geochemistry will assist greatly with the finalisation of our target definition for the upcoming field program. I make no guarantees, but with results like this, on only half of the assessed ground to date its, worth making every effort possible to drill this project during the coming year.
During the coming weeks we will conclude the 2024 work programmes at both projects to deploy what will be a holistic campaign leveraging all available synergies between activity, location and service provider”.
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