Cornish Lithium Ltd said that TechMet Ltd will invest a further £9 million at 20 pence per share, following the scoping study for the Trelavour hard rock lithium project. SCOPING STUDY The option is the second tranche of TechMet‘s £18m funding package announced in November 2021. The scoping study sets out the design and economics […]
Tag: lithium
Cadence looks to future value after losses
Cadence Minerals plc swung to a loss during 2021 but said its assets, particularly iron ore and lithium, would perform well in the future. FINANCES In its annual results for the year ended 31 December 2021, the company reported a loss of £0.14m (2020: £7.82m profit) due to reduced realised and unrealised profits and losses for […]
Power Metal plans mapping and sampling at Selta
Power Metal Resources plc’s subsidiary plans mapping and surface sampling of prospective lithium targets at its Selta uranium-rare earth project in the Northern Territory, Australia. BUSINESS STRUCTURE First Development Resources Ltd (FDR), 82.78% owned by Power Metal, conducted a specific review on lithium following a recent in-depth data review covering the licence area. Selta is held within URE […]
Power Metal subsidiary in Australia raises £1.1m
Power Metal Resources plc said its subsidiary First Development Resources Ltd (FDR) had raised £1,125,000 ahead of planned listing in Q3 2022 on the London capital markets. FDR FDR is focused on gold-copper, uranium-rare earth element and potential lithium targets in Western Australia’s Paterson Province and the Northern Territory. Money raised will allow FDR to self-finance its operations including IPO listing advisory […]
Power Metal fails to find economic nickel at Haneti
Power Metal Resources plc said that drilling results had failed to show economically significant intersections of nickel at Haneti in central Tanzania. LITHIUM The company now plans advanced targeting and re-engagement with potential partners. The joint venture, between Power Metal (35%) and operator Kotoro Gold (65%), includes the new Babayu lithium prospect, 40km southwest of Haneti. In […]
Red Rock attracts $100,000 investment for Zimbabwe lithium project
Red Rock Resources plc said that a group of high net worth investors had acquired a 10% early stage interest for US$100,000 in the company’s lithium project in Zimbabwe. APPLICATIONS The funds will develop the company’s 75% subsidiary African Lithium Resources Pvt Ltd (ALR) which it established in March. Red Rock recently submitted an application […]