https://www.engineeringnews.co.za

Lithium Australia raises cash for projects

11th January 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Junior developer Lithium Australia announced on Monday that it would raise about A$6-million in a share placement to institutional and sophisticated investors to fund project development and working capital.

Shares would be priced at 14c each. The A$6-million raising would include a A$4-million funding by Lanstead Capital, which would take up more than 28.5-million of the shares on issue.

Following the investment, Lanstead would hold a 15.9% interest in Lithium Australia.

Lithium Australia MD Adrian Griffin said on Monday that the company was pleased with the funding opportunity, particularly considering the recent market turmoil.

“We welcome Lanstead as our first institutional shareholder and applaud the confidence Lanstead has in our strategy to use disruptive technology to surpass the outcomes being achieved by the more conventional lithium producers.”

Griffin said that the capability of Lithium Australia’s plan has been expanded with the recent successful production of lithium hydroxide, giving the company’s processing package a potential paradigm shift in production revenue.

Previously known as Cobre Montana, Lithium Australia has a number of strategic relationships with mineral companies holding lithium projects around the world, including the Pilgangoora project and the Coolgardie projects, both in Western Australia.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 1.177s - 140pq - 2rq
Subscribe Now