JOHANNESBURG (miningweekly.com) – Pure-play lithium exploration company Lithium Power made a successful debut on the Australian stock exchange on Friday, closing at a 37.5% premium to its listing price.
The company’s stock closed at A$0.275 a share, compared with a listing price of A$0.20 a share.
The start of trading on the ASX followed an oversubscribed initial public offering, in which Lithium Power raised A$8-million for exploration at its projects.
“The company is now firmly focused on fast-tracking the exploration and development of our lithium projects in the world-class jurisdictions of Western Australia and Argentina,” commented Lithium Power CEO Martin Holland.
Lithium Power’s projects include hard-rock spodumene targets in the Pilbara and Greenbushes regions of Western Australia, and the Centenario brine salar in the lithium province of Salta, in Argentina.