GL1 - Global Lithium Resources

[System]

Global Lithium Resources Limited is a Pilbara focussed, lithium exploration and development company. The Company owns 100% of the Marble Bar Lithium Project (MBLP), a hard-rock lithium project, located 180km south-east of Port Hedland in the Pilbara region of Western Australia - one of the worlds' major hard-rock lithium provinces. The geological setting of the MBLP is similar to that seen at other nearby hard rock lithium projects.

Global Lithium has defined a maiden Inferred Mineral Resource Estimate of 10.5Mt @ 1.0% Li20 at the Archer deposit, confirming the MBLP as a significant new greenfields Lithium discovery. Located within the established Pilbara province, the MBLP has access to world-class infrastructure, with a sealed road running directly through the Project. In addition to its existing resource which remains open in all directions and demonstrates significant growth potential, the company has identified a large prospective area to explore.

It is anticipated that GL1 will list on the ASX during May 2021.

Global Lithium

The Emerging Pilbara Lithium Explorer

globallithium.com.au

 

[Dona Ferentes]

Listing date	6 May 2021 12:00 PM ##
Company contact details	https://globallithium.com.au/ Ph: + 61 8 9316 9100
Principal Activities	Mineral exploration
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	GL1
Capital to be Raised	$9,000,000
Expected offer close date	6 April 2021
Underwriter	Not underwritten. Argonaut Securities Pty Ltd (Lead Manager)

listed today ..... opened at 30c and, after two and a half hours trading, shares are changing hands at 27c

 

[frugal.rock]

Well, it did pop a bit after last post.
Randomly stumbled across this thread (at bottom of AVL thread)

Todays bar may signal a break in the trading range of late.
A chart of interest.
Will it carry on?
Have placed in my Lithium watchlist which is now full, all 35 of them. Might have to cull a few.

 

[Ann]

I chose this baby for the annual tipping contest for '22. Lithium seems fashionable, it had a lovely consolidation shape forming when I chose it, sadly it took off too quickly, never mind, let's see how well it travels.

 

[Ann]

I thought I would have a punt with this in the January Tipping Comp as well. May have had its run, let's see.

 

[Dona Ferentes]

there have been a few catalysts for GL1. Early days though

late October ... SP ran from 40c to 70c
Key Highlights:
• Heavily overbid $13.6 million placement to fast-track exploration activities at the Marble Bar Lithium Project (MBLP).
• As part of the placement, the lithium chemical arm of Contemporary Amperex Technology Co. Limited (CATL) (the world’s largest EV battery producer), Yibin Tianyi, to invest $6.2 million for a 9.9% interest in Global Lithium.
• Placement funds will be directed towards accelerating activities, including:
— Further lithium resource extension, targeting and regional exploration drilling;
— Initial exploration drilling along the southern extension of the greenstone belt, where historical drilling has identified lithium mineralisation 15km from the Archer deposit;
— Further exploration at the Company’s under-explored gold prospects, including the emerging Twin Veins project;
— Completion of the preliminary metallurgical test work program; and
— Potential consideration of additional complimentary growth options.

23 Dec .... SP ran from 63c to 95c by EoY
Key Highlights:
• Global Lithium to acquire 80% of the lithium rights in the Manna Lithium Project from Breaker Resources NL (ASX:BRB).
• Outcropping spodumene bearing pegmatite lithium exploration project with individual pegmatite dykes up to 18 meters wide.
• Initial drilling within the main outcrop demonstrates high-grade lithium mineralisation, with significant results, including:
— 17m @ 1.80% Li2O from 36m in BMRC0009;
— 14m @ 1.03% Li2O from 92m in BMRC0001; and
— 17m @ 1.54% Li2O from 38m in BMRC0022.
• Significant exploration upside within the 5.0km x 1.5km LCT anomalous area centred on the main outcrop with recent drilling confirming a new discovery 350m south of the main outcrop.
• Substantial exploration and drilling program being planned for 2022 to progress towards a maiden Mineral Resource.
• Acquisition consistent with Global Lithium’s growth strategy through complementary acquisitions.

 

[Dona Ferentes]

I thought I would have a punt with this in the January Tipping Comp as well. May have had its run, let's see.

bold ... and successful. On the morning of Day One at least


GL1 is up another18% this morning, to $1.12. The Capital Raising was conducted at an issue price of $0.37. I wonder if the buying is from those that missed out, or did not get what they wanted, in the placement. Having a partner probably helps

"To be able to secure support from a lithium industry participant with the credibility of Yibin Tianyi is a strong vote of confidence in our Company and we look forward to developing our relationship with them over time."

............. Looks like lithium is going to be a story for 2022, as well

 

[Sean K]

This might help break up from this consolidation period.

 

[Dona Ferentes]

now $1.59 ... and going to market to raise more capital

The Capital raise likely to be split into a $25.6 million placement, and a $4.3 million top up placement. The top up placement will be taken up by Global Lithium's spodumene offtake partner Suzhou TA&A Ultra Clean Technology Co. Suzhou has a 10 year offtake agreement with Global Lithium to take up 30 per cent of the spodumene concentrate, and aims to keep its shareholding at 9.9 per cent after the raise.

The offer was priced at $1.35 per share, a 15.4 per cent to the last traded price, according to the term sheet sent to potential investors.

The company planned to use the funds for its Marble Bar Lithium Project for targeting, drilling, evaluation studies and approval. It would also use the funds for work at its second project, Manna

 

[Ann]

In for the May Comp, really like the look of the chart, it appears as though it is bouncing up from a rising support.

 

[Sean K]

Don't know if this was expected. Overs? Unders? Market will tell us.

 

[waterbottle]

Huge upgrade, but I think it will get dragged down by rest of the market. PLS also achieved a lower spodumene auction price so that will feed into the theory that the lithium market is weakening.

 

[brerwallabi]

Despite certain houses downgrading the lithium price, the demand will be strong and having a lithium in the tipping comp is a must for me.
With further potential discovery and already substantial resource GL1 meets my criteria for investment too.

 

[Iggy_Pop]

One of my picks for CY 23 stock tipping comp. GL1 has had a volatile year and went down rec3ntly with the other ppl ithium stocks. With EV impact on lithium, we should get good growth over the next 12 months

Iggy

 

[Gringotts Bank]

Looking for a right shoulder formation.... and a takeover bid. Maybe they'll coincide.

Equivolume shows volume surge in the recent move up.

Volume profile has a FVG at 1.735 (orange arrow). POC at 1.54 (white line).

 

[Gringotts Bank]

The fundy fellas recon today's ann is a goodun. No breakout, SP controlled with pushbacks all day. TO bid coming?

 

[Miner]

The fundy fellas recon today's ann is a goodun. No breakout, SP controlled with pushbacks all day. TO bid coming?

I saw a presentation made on Friday or so by the MD of GL1 with others at Hidden Gem organied and the preentation was not even posted on ASX. A typical hype generation event to get some people put their money. Some small chit chats at the presentation, could have reached the market to make a change and not sure if TO was discussed.
The volume of transactions was ordinary (589,000) on Friday and the only excitement I felt from the earlier announcement with the sorter.
the financial loss was significant as well

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02670912-6A1152149?access_token=83ff96335c2d45a094df02a206a39ff4

 

[Dona Ferentes]

And ... some REE in the mix. Now $1.74. Market cap $450 million after those cap raisings.

GL1 has identified a Rare Earth Element discovery adjacent to its 100% owned Manna Lithium Project 100km East of Kalgoorlie in Western Australia as part of its Manna Project exploration program. The new discovery to be named Cardunia Rocks REE Project.

This bedrock REE hosting mineralized system was discovered by re-analysing pulps from the 2022 lithium RC and Diamond drilling campaigns after initial assay spectra showed anomalously high peaks relating to cerium concentrations. Field observations had also highlighted the distinct structurally deformed and altered zone. Assay results have now been received from a large number of pulps resubmitted for multi-element and REE assay. The anomalous REE’s results were discovered just outside the eastern edge of the Manna Lithium Project.

A wide-ranging analytical program was performed along with a tenement wide structural geology and geophysical interpretation to identify potential source pathways back from the current REE mineralisation point and to generate a new set of exploration targets. The interpreted REE area of interest is an estimated 8.5km trend that passes to the east and south of the Manna Lithium Project.

 

[Miner]

@DrBourse
When you can and chose, interested to learn your analysis with GL1, CTM, Voltaic , SBR, LYC in conjunction with few other valuable analysis you did on PLS, RMD, CSL.

 

[DrBourse]

Miner....
GL1, SBR, CTM & VSR do not have enough, or any, Financials for me to work with - so my style of analysis does not work on PD's (Penny Dreadfuls)...
And TA for PD's is pretty much useless - so you will need to rely on Others Ramping those stocks, I would not rely on any announcements as they are considered a WOFTAM.....