https://www.miningweekly.com

Arizona Lithium raises cash for Big Sandy

1st November 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior Arizona Lithium will raise A$13-million in a placement to institutional and sophisticated investors to fund works at the Big Sandy lithium project, in Arizona.

The ASX-listed company on Monday said that the placement will consist of 173.3-million shares, at a price of 7.5c each, and one free attaching option for every two shares subscribed for, exercisable at 12c each.

The placement will be done under the company’s existing placement capacity, and will not require shareholder approval.

“We are delighted with the strong support received from investors for the capital raise, with Arizona Lithium now well funded to fast track the sustainable development of the Big Sandy lithium project, and capitalise on the increasing demand for lithium as the world continues to shift towards an electric future,” said Arizona Lithium MD Paul Lloyd.

“With metallurgical testing continuing at Hazen, and further drilling planned at Big Sandy with the aim of further expanding the existing resource, it is an exciting time for all Arizona Lithium shareholders.”

Big Sandy was reported to have a maiden mineral resource of 32.5-million tonnes, grading 1 850 parts per million or 320  800 t of lithium carbonate equivalent.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

VISIT SHOWROOM 
Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

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







sq:0.044 0.773s - 111pq - 2rq
Subscribe Now