Core raises funds to hunt for lithium
PERTH (miningweekly.com) – Junior explorer Core Exploration would raise A$2.2-million through a share placement to fund its hunt for lithium in the Northern Territory.
The company said on Tuesday that it would place some 52-million shares, at a price of 4.2c each, to raise the funds.
The placement would be made under the company’s existing 15% capacity, and would not require shareholder approval.
“We are extremely pleased with the strong support from investors for the placement, which includes the introduction of several domestic and international institutional investors,” said Core MD Stephen Biggins.
“We’ve been able to build a dominant position across multiple pegmatite fields through our early mover advantage in the Northern Territory, and this placement now allows us to more aggressively undertake the first systematic evaluation of this large portfolio for its lithium potential.”
Biggins noted that the funds raised would enable Core to fast-track its evaluation programme at the Finnis and Anningie lithium projects, and would ensure that the company’s planned 2016 work programme was fully funded.
“This year is shaping up to be a very exciting year for Core and we look forward to working hard to unlock the potential of our highly prospective lithium projects.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation