Proactive’s Post

Global Lithium Resources Ltd (ASX:GL1) has returned high grades and strong recoveries in ongoing test-work on the Manna Lithium Project in Western Australia’s Goldfields prompting Shaw and Partners Financial Services to maintain its buy recommendation and price target of $2.20. In supporting its recommendations in an equity report compiled last week, Shaw and Partners said: We highlight outstanding value on offer in GL1 and expect production curtailments to result in a #lithium market rebound through 2024.” The company is currently trading at around $0.62 and its market cap is approximately A$161.36 million. It finished 2023 with $36 million cash and no debt, which Shaw and Partners said left it well-placed to withstand current market conditions. More at #Proactive #ProactiveInvestors #ASX #GL1 #LithiumMining #BatteryMetals #CriticalMinerals #BrokerResearch http://ow.ly/Yltp105lyez

Small-cap Movers: Atlantic Lithium’s ground breaking approaches @AtlanticLithium #AIM #OTCQX #ASX #ALL #ALLIF #A11. Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) is tantalisingly close to breaking ground at its flagship Ewoyaa Lithium Project in Ghana. Mineral resource estimates at Ewoyaa received a shot in the arm in July and just this week, Atlantic secured an operating permit from the Minerals Commission of Ghana. This marks the final regulatory approval before ground can be broken at the Ewoyaa mine, paving the way towards a Final Investment Decision. If and when it all goes ahead, Ewoyaa will be Ghana's first-ever lithium project, complementing... http://ow.ly/h7m2105LE9o

$LPI - Lithium Power International Ltd (ASX: LPI) confirms shareholder support for $365 million sale to Codelco Chairman Dave Hannon said the new National Lithium Policy – Chile is the largest producer of lithium carbonate equivalent tonnes in the world after Australia – would have made it difficult for the company to develop the brine on its own. “The decision of the LPI Directors to unanimously recommend the Scheme follows LPI running a broad strategic process, which included the assessment of potential financing and/or change of control transactions in relation to LPI’s Maricunga Project, and a comprehensive assessment of the potential benefits and risks of the Scheme,” he said. “The LPI Directors consider that the opportunity to immediately realise value for cash offered by the Scheme has the potential to deliver greater benefits to LPI Shareholders than any other alternative currently available, including the standalone financing and development of the Maricunga Project which could be difficult to obtain due to the uncertainty created for project financiers by the National Lithium Policy.” Read more: https://lnkd.in/ghsmHjVc #lithium

Top 5 ASX cobalt stocks for 2024 With many different industrial uses, cobalt is an essential mineral. Australia offers a steady supply of cobalt in a safe geopolitical environment, with about 19% of the world's reserves located there. For international cobalt sourcing, the nation is a desirable choice due to its open regulatory environment and socially conscious investment opportunities. Cobalt plays a crucial role in emerging technologies, such as lithium batteries and synthetic fuels, supporting the transition to a sustainable energy future. Lithium-ion battery manufacture requires the use of cobalt. With a maturing supply chain and new projects in development, including potential from mine tailings and abandoned sites, Australia presents solid investment opportunities for cobalt. The rapid expansion of smart grids, renewable energy sources, and the electric vehicle sector are expected to propel a significant increase in the world's demand for cobalt. Cobalt demand is expected to rise as the public and private sectors concentrate on carbon transition energy policies. ( Source: Australian Government/ Australiaminerals.) Here we present the best ASX-cobalt mining companies that are strongly involved in exploration, production, and marketing activities. Read More In-depth Link- https://lnkd.in/guRqqYET #asx #asx200 #australiastock #stockstowatch #stockstobuy #cobalt #cobaltstocks #stocks

Rio Tinto makes a $US4 billion bid for US listed Arcadium Lithium - an opportunistics bid given Arcadium lithium's price has fallen 63% this year on weak lithium prices. Rio should be able to win this one Goldman Sachs have noted the 250,000 tonnes of lithium carbonate equivalent that was expected in 2027 now look unlikely to be produced before 2030. Looks like there could be more #lithium companies in play soon.. #criticalrawmaterials #rawmaterials #evbatteries #batterymetals #asxnews #asx #miningnews

**Galan Lithium Ltd to raise $9.3m to fund #HMW Phase 1 project** - #GalanLithium has secured A$14m ($9.3m) through an equity raise at A$0.23 per share, targeting institutional, sophisticated, and professional investors. - The company will issue 56,521,740 fully paid ordinary shares at a 20.7% discount to the 15 May 2024 closing price of A$0.29 per share, along with 28,260,870 new options, subject to shareholder approval. - Directors are contributing up to A$1m, subscribing for 4,347,828 new shares and 2,173,914 new options, with these options having an exercise price of A$0.35, valid for two years. - The funds will be used for the development of the #HombreMuertoWest (HMW) Phase 1 lithium brine project in Argentina, covering development costs, corporate overheads, working capital, and transaction costs. - The equity raise, managed by Canaccord Genuity Australia and Petra Capital Pty Ltd, provides Galan Lithium with financial flexibility to continue HMW Phase 1 construction and explore alternative funding solutions such as debt and prepayment facilities. #mining #mineralexploration #mineralprocessing

We've executed a Joint Venture Agreement for the development of the Rincon Project within our Salta Lithium Project in Argentina, with Navigate Energy Technology Limited as the controlling shareholder. Navigate will provide a US$4 million equity investment into the joint venture, which aims to establish Rincon as a significant Direct Lithium Extraction operation. This agreement follows the completion of due diligence and replaces a previous Binding Term Sheet. Managing Director Mena Habib commented, “We are delighted to execute the Joint Venture Agreement for the Rincon Project. After the successful completion of due diligence, the JVA represents a critical next step in formalising the terms under which the Project is proposed to be developed into a proposed significant Direct Lithium Extraction production operation. With the JVA executed, Power will now receive the second $500,000 tranche under the terms of the convertible loan agreement, and we will move forward to satisfy the conditions precedent, and establish the incorporated Joint Venture Entity for the Rincon Project.” Navigate Energy Technology Director Dr Wang Zhiqiang, PhD commented, “We are very pleased with the outcomes of our due diligence process in relation to the Rincon Project and Power Minerals, and are excited to enter into the JVA for the Rincon Project. We look forward to the establishment of the Rincon JV Entity and to working in partnership with Power Minerals to realize our shared goal of delivering a new source of quality LiCI and value added products from the Rincon Project.” Read the full ASX Announcement here: https://lnkd.in/gTEbFXes #PNN #powerminerals #Lithium #RinconProject #PowerMinerals #JointVenture #Mining #LithiumTriangle #EnergyTransition #SustainableEnergy #ASX #InvestingInLithium #RenewableEnergy #MiningInvestment #BatteryMetals

The Queensland Government has launched a Critical Minerals Prospectus with the aim of growing the state’s critical minerals industry and showcasing projects at different stages for investment. The prospectus is backed by the Critical Minerals Investor Hub, a new online tool connecting potential investors with government agencies as well as proponents of projects already in development. The Prospectus and Investor Hub is backed by the Queensland Government's $315m Critical Minerals Strategy. Managing Director of Richmond Vanadium Technology Jon Price was fortunate to be quoted in the press release from The Honorable Scott Stewart MP, Qld Minister for Resources and Critical Minerals. “With the vast resources across Queensland and the opportunity for the Australian resource sector to be at the forefront of the global energy transition, the Queensland Government should be commended for developing the $315 million Queensland Critical Minerals Strategy and providing key infrastructure to progress the critical minerals industry. “The launch of the Queensland Critical Minerals prospectus will increase global exposure and interest of Queensland projects and lead to important introductions to key investment stakeholders. “Richmond Vanadium Technology looks forward to showcasing our Richmond Julia Creek Project in North Queensland, one of the world’s largest vanadium oxide deposits, via the Critical Minerals Investor Hub, a great initiative in supporting the development of the Queensland critical minerals industry." Read the full Ministerial press release: https://lnkd.in/g_X-yKBQ #RVT

Latin Resources Limited (ASX:LRS, OTC:LRSRF) and Predictive Discovery Ltd (ASX:PDI, OTC:PDIYF) have been added to the S&P/ASX 300 Index as part of the March quarterly rebalance of the S&P/ASX Indices. As a result of the quarterly review by S&P Dow Jones Indices, the changes will be effective prior to the opening of ASX trading on Monday, March 18, 2024. For Latin Resources being added to the S&P/ASX 300 Index continues what has been a strong start to 2024 with the promises of more strong news flow for the remainder of the year. In late January the company confirmed a third major spodumene discovery at its Salinas Lithium Project in Brazil, further bolstering its confidence of the potential to host a world-class lithium resource. More at #Proactive #ProactiveInvestors #ASX #OTC #LRS #LRSRF #PDI #PDIYF #ASX #ASX300 #ASXRebalance http://ow.ly/6UbT105kv2f

We've received firm commitments for $1.0 million (before costs) from a placement to sophisticated and professional investors via Canaccord Genuity Australia. This brings the total capital commitments across the recent Share Purchase Plan and the TopUp Placement to $2.5 million. Non-Executive Director, Julian Babarczy, participated in the Top-Up Placement, for a total amount of $70,000. Julian is an existing major shareholder and his further investment is seen as a strong endorsement of our multi-project strategy and attractive valuation. Completion of this capital raising program will enable us to rapidly progress the Kookaburra Graphite Project pre-feasibility study and related project workstreams, including the downstream BAM Scoping Study as well as the development of relationships with strategic investor and offtake groups for our multiple Eyre Peninsula projects. CEO Jonathon Trewartha said: “The receipt of such strong commitments for Lincoln’s SPP and the Top-Up Placement places the Company in a strong position to execute on the rapid project advancement at the Kookaburra Graphite Project as well as the downstream BAM strategy. We are also making solid progress on our Green Iron and Uranium projects with updates on each expected soon. Being part of the Critical Minerals Australian trade delegation has made me feel very positive on the underlying fundamentals of the graphite market, especially for ex-China development projects, with an increased urgency from supply chain participants and end users, suggesting increase in graphite prices could be imminent.” Read the full ASX Announcement here: https://lnkd.in/gDkzWraw #LML #LincolnMinerals #graphite #Uranium #Magnetite #greeniron #placement #SPP #ASX #ASXnews #miningnews