Lithium Energy lists on the ASX
PERTH (miningweekly.com) – Junior Lithium Energy started share trading on the ASX on Wednesday, raising A$9-million in its initial public offering (IPO).
The junior company listed with an initial market capitalisation of A$16-million, based on 80.01-million shares on issue, with 45-million shares to be quoted on the ASX and 35.01-million to be restricted securities subject to escrow.
Lithium Energy was previously part of ASX-listed Strike Resources, and holds a 90% interest in the Solaroz lithium project, in Argentina, and the Burke graphite project, in Queensland. Solaroz is adjacent to the mineral concession being developed by ASX- and TSX-listed lithium miner Orocobre, and TSX- and NYSE-listed Lithium Americas Corporation.
The company said on Wednesday that with the IPO and ASX listing now successfully completed, Lithium Energy was set to rapidly advance the development of its Solaroz and Burke projects.
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