- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Venus Metals Corporation Limited (ASX: VMC) – Trading Halt
Description
The securities of Venus Metals Corporation Limited (‘VMC’) will be placed in trading halt at the request of VMC, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 3 May 2023 or when the announcement is released to the market.
Scarlette de Lavaine
Adviser, Listings Compliance
Click here for the full ASX Release
This article includes content from Venus Metals, 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 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”.
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.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.