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Delta Lithium upgrades Mt Ida lithium resource​

ASX News, Materials​

ASX: DLI MCAP $380.8M
03 October 2023 10:15 (AEDT)
themarketherald.com.au

Delta Lithium upgrades Mt Ida lithium resource

Delta Lithium (ASX:DLI) has announced a lithium resource upgrade at its Mt Ida lithium project in the WA goldfields as full-fledged government mining approvals draw nearer.
themarketherald.com.au themarketherald.com.au
  • Delta Lithium (ASX: DLI) upgrades the mineral resource estimate for its Mt Ida lithium project in Western Australia
  • The company has boosted its indicated mineral resources 136 percent to 7.8 million tonnes at 1.3 percent lithium oxide
  • Global contained lithium resource has increased 21 percent to 180,000 tonnes
  • A maiden gold resource is pending in the coming days
Long Term Live Chart: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^DLI&p=5&t=1
Short Term: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^DLI&p=0&t=1
or https://uk.advfn.com/stock-market/ASX/DLI/share-price?java=1
 
My Nov pick is still DLI..surely surrounded by rich cousins in this location is not a bad thing.
Aunty Gina may decided to buy it too.
 
• Delta Lithium to raise approximately $70.2 million via an accelerated non-renounceable entitlement offer to eligible shareholders on the basis of two (2) shares for every seven (7) existing shares.
• Proceeds from the Entitlement Offer to ensure that Delta Lithium is:
o well-funded for expanded drilling programs at both the Mt Ida Lithium Project in the Goldfields region, and the Yinnetharra Lithium Project in the Gascoyne region, of Western Australia; and
o fully funded through to the delivery of a scoping study at Yinnetharra as well as a Definitive Feasibility Study and a Final Investment Decision at Mt Ida, expected in late-2024.
• Major shareholders Mineral Resources Limited and Hancock Prospecting Pty Ltd, representing ~ 22% of Delta Lithium’s existing and outstanding shares, have indicated that they intend to take up their full entitlements, which together will account for approximately $15.4 million of the Entitlement Offer.
• The Entitlement Offer is fully-underwritten by Mineral Resources Limited (ASX:MIN)
.
The Entitlement Offer will comprise the issue of approx. 152.5 million new fully paid ordinary shares in Delta at an offer price of $0.46 per share.

Rabbithop said:
My Nov pick is still DLI..surely surrounded by rich cousins in this location is not a bad thing.
Click to expand...
but as a tip for this month, it's heading in the wrong direction.
Screenshot_20231114-075044_CommSec.jpg

The trend won't bend until the end
 
Dona Ferentes said:
• Delta Lithium to raise approximately $70.2 million via an accelerated non-renounceable entitlement offer to eligible shareholders on the basis of two (2) shares for every seven (7) existing shares.
• Proceeds from the Entitlement Offer to ensure that Delta Lithium is:
o well-funded for expanded drilling programs at both the Mt Ida Lithium Project in the Goldfields region, and the Yinnetharra Lithium Project in the Gascoyne region, of Western Australia; and
o fully funded through to the delivery of a scoping study at Yinnetharra as well as a Definitive Feasibility Study and a Final Investment Decision at Mt Ida, expected in late-2024.
• Major shareholders Mineral Resources Limited and Hancock Prospecting Pty Ltd, representing ~ 22% of Delta Lithium’s existing and outstanding shares, have indicated that they intend to take up their full entitlements, which together will account for approximately $15.4 million of the Entitlement Offer.
• The Entitlement Offer is fully-underwritten by Mineral Resources Limited (ASX:MIN)
.
The Entitlement Offer will comprise the issue of approx. 152.5 million new fully paid ordinary shares in Delta at an offer price of $0.46 per share.


but as a tip for this month, it's heading in the wrong direction.
View attachment 165693
The trend won't bend until the end
Click to expand...
Sadly Rabito's tip of DLI and mine being LTR are both suffering the same fate sliding down the slippery pole.
 
Noted that DLI has arranged JV's with neighbouring Li tenements held by VSR and RR1 in the Gascoyne region (WA).

Certainly seems reasonable with the lithium price so low.
 
Major Upgrade to Mt Ida Gold Resource announced on Friday. I think the gold price will bounce back in July and the DLI share price should see some bullish price action as a result. It's been a rough 12 months for DLI, but it looks like 20c is shaping up as the bottom and a rebound might be in the early stages.
 
Good morning
It has been revealed in Street Talk, AFR on 26/09/24, that Delta Lithium, whose substantial shareholders include Gina Rinehart, Mineral Resources and Idemitsu, has brought in Bell Potter to conduct a strategic review of its Mt Ida gold project after its shares tumbled 69.5 per cent in 12 months.

Announcement yesterday has substantiated this media report.

Highlights:
• Strategic Review commenced to assess the best path to deliver shareholder value from the Mt Ida Project
• Bell Potter has been appointed as Financial Advisor to the Strategic Review
• Mt Ida is underpinned by a Mineral Resource Estimate (MRE) of:eek: 6.6 Mt @ 3.5g/t Au for 752,000 ounces (at various cut-off grades)1o Including the Baldock, which is one of the highest-grade undeveloped deposits in WA containing 4.8Mt @ 4.4g/t Au for 674,000 oz1
• Internal scoping study recently completed
• Project is shovel-ready with all Mining Approvals granted for Open Pit and Underground mining at the Baldock Deposit

1727383749911.png


Not holding

Have a very nice day today.


Kind regards
rcw1
 

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The market digested this announcement like slow-release fertiliser, not as a steroid boost.
Who knows, good sense prevails for MIN after so much publicity.
I personally think that once guilt has been accepted, there should be remissions and reprives for leading a better life, not a vendetta.
No one can deny the excellent contribution made by CE to make a little pipe company PIHA into CSI and then to big MIN. It has benefitted shareholders, governments, businesses, and the community. We should also remember that our super funds invested a significant amount in MIN (I will repeat this on the MIN thread). There could be massive job losses if CE leaves MIN as well. I hold neither MIN nor DLI
 
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