Litchfield Minerals, a junior exploration company focused on the Northern Territory, on Wednesday announced its planned listing on the ASX.
With an initial focus on uranium and copper exploration, Litchfield is poised to capitalise on the increasing global demand for uranium, driven by a forecasted supply shortfall and the growing push for clean energy solutions.
Litchfield exploration projects include copper assets and uranium holdings with an 8-km-long uranium, radiometric anomaly in the Mount Doreen tenement, located 350 km from Alice Springs. This project is adjacent to the ASX-listed Energy Metals’ Bigryli uranium deposit, highlighting the area's rich uranium potential.
The company is drill-ready and plans to drill its initial targets early at Mount Doreen.
Litchfield plans on exploring the highly prospective Lucy Creek project later in the year, known for its potential in manganese, sedimentary base metals and rare earths.
The anticipation of a uranium market resurgence has energised interest in ASX-listed uranium stocks, with Litchfield Minerals strategically positioned to lead the exploration frontier in the Northern Territory.
The company is seeking to raise A$4.5-million to A$5.5-million at 20c a share, which would give it a A$6.6-million to A$7.6-million market capitalisation upon listing and an enterprise valuation of A$2-million.