KM1 - Kali Metals

[System]

Kali Metals Limited (KM1) is a lithium focused exploration company which, upon listing on the ASX, will have rights to explore for lithium across multiple projects in Australia, primarily in the Pilbara and Eastern Yilgarn regions in Western Australia but also the Lachlan Fold Belt in Northern-eastern Victoria and Southern New South Wales.

Following its ASX listing, the Company will have an interest in the following projects:

(a) the DOM's Hill Project and Marble Bar Project (subject to completion of the Tenement Sale Agreement with Kalamazoo) and Pear Creek Project (currently held by the Company) located in the Pilbara region of Western Australia, including title and all exploration rights. Kalamazoo will also assign its interests in the SQM Earn-in Agreement, which operates in respect of the DOM’s Hill and Marble Bar Projects, to the Company;

(b) the Higginsville Lithium Rights at the Higginsville Project tenements held by the Karora Group (subject to completion of the Share Sale Agreement and Mineral Rights Agreements with the Karora Group) located in the Eastern Yilgarn region of Western Australia; and

(c) the Jingellic Project and Tallangatta Project located in southern New South Wales and north-eastern Victoria, respectively (currently held by the Company), including the option to earn a 100% interest in the MEG Lithium Rights at EL8958 (held by MEG) pursuant to a term sheet with MEG, located adjacent to the Jingellic Project.

It is anticipated that KM1 will list on the ASX during January 2024.

Kali Metals – Power the green energy transition

kalimetals.com.au

 

[Dona Ferentes]

Listing date	04 January 2024 ; 12:00 PM AEDT ##
Company contact	https://www.kalimetals.com.au/ Ph: 61 8 6424 8880
Principal Activities	Exploration
Issue Price	AUD0.25
Issue Type	Ordinary Fully Paid Shares
Security code	KM1
Capital to be Raised	$15,000,000
Expected offer close date	08 December 2023
Underwriter	Not underwritten, Bell Potter Securities Limited and Canaccord Genuity (Australia) Limited(Joint lead managers).

 

[Dona Ferentes]

listed today


and a jolly profit for a much hyped IPO
.
usual suspects:
The company’s backers include Mineral Resources’ managing director Chris Ellison, as well as West Australian billionaire Tim Roberts, and Navitas education company co-founder Rod Jones.

Mr Ellison piled into Kali through his private company Wabelo, emerging with a 4.86 per cent stake. He is the third-biggest shareholder behind Kalamazoo Resources (22.1 per cent) and Karora Resources (20.2 per cent), which combined to spin out Kali.

... 25c next month?

 

[peter2]

My thoughts exactly. Will the shorts attack this one?

 

[rcw1]

Good morning
It has been reported today (10/01/24) Mineral Resources has bought up a 9.97 per cent stake in Kali Metals, this is separate to Chris Ellison’s 4.85 per cent stake, which is held through his private company Wabelo.

Have a very nice day, today.

Kind regards
rcw1

 

[Rabbithop]

My thoughts exactly. Will the shorts attack this one?

Likely.

 

[peter2]

Looks like I don't get it. Buyers are scrambling to buy this lithium wannabe, but selling this profitable lithium producer (PLS).

 

[Rabbithop]

Me too, don't understand it, But could it be...
KL1 price is below $1 while PLS is at $3 plus.
Affordable to make a quick profit cos of the news circulating by gurus.
PLS is a favorite with the shortees. I rather have PLS awaiting for shortees to move on

 

[Boggo]

Looks like I don't get it. Buyers are scrambling to buy this lithium wannabe, but selling this profitable lithium producer (PLS).

Australian super has been buying PLS and holding the price up just below $4.
Now that they have finished the shorters who have been patiently waiting and are now having a go imo.

 

[Dona Ferentes]

now listed for 4 days. Is that it?
.

 

[Chipp]

KM1 came up on a scan , still plenty cash . with this current slump EV value getting to a nice point . Deeper dive on weekend to get some Pros and Cons

 

[Dona Ferentes]

KM1 came up on a scan , still plenty cash . with this current slump EV value getting to a nice point .

used to be, a while ago, a headline like this and the SP would race off. Not any longer, down today and now 23c

Spodumene-bearing pegmatites
confirmed at Jingellic Project​

Highlights
• Kali Metals has received rock chip assay results confirming lithium mineralisation from pegmatites located within the Jingellic Project, part of the Company’s Lachlan Fold Belt portfolio of assets in NSW
• X-Ray Diffraction analysis of rock chip samples from the “Giant Pegmatite” prospect confirm Spodumene as the dominant lithium-bearing mineral phase (up to 18 wt% coincident with assay results up to 1.54% Li2O)
• A ~50km2 LiDAR survey completed over the Sweetwater Creek prospect area has identified previously unknown pegmatite dykes
• Rock chip samples from the newly identified “BFG Pegmatite” prospect contain elevated lithium, fractionation trends and pathfinder elements consistent with lithium-caesium-tantalum pegmatites
• Encouraging historical rock chip sample assays reported for tin mine workings located within the Sweetwater Creek Prospect. These results are subject to further investigation and verification by the Company
• A detailed grid soil geochemistry sampling program was recently completed across the Sweetwater Creek prospect area
• NSW government approvals received to conduct exploration activities within the Woomargama and Mullengandra State Conservation Areas, both host prospective pegmatite dyke occurrences
• Results from the first reconnaissance drill program at the Spargoville Project, within the Higginsville Lithium District are being collated and analysed, with an expected announcement in July

 

[Chipp]

Rock chips are a nothing ann tbh although i must agree a year ago would have lit a fire under SP for at least a day

 

[Dona Ferentes]

so what have we here? up 50 per cent, and off lows . MC under $10M

Highlights
• Kali Metals has reached an agreement with SQM, the existing joint venture partner in its exploration projects in the Pilbara, to expand the area of the JV and amend the terms of the existing Earn-In Agreement.
• As part of the expanded JV, Kali has entered into binding transaction documentation to acquire the following strategic additional Pilbara tenements:
o DOM’s Hill: Exploration licence applications E45/6646 and E45/6647; and
o Pear Creek: Exploration licence E45/6457.
• The new tenements:
o Are contiguous to the Company’s existing tenement portfolio in the Pilbara, and so the Company is well placed to capitalise on cost synergies in its exploration of this new tenure; and
o Increase the Company’s Pilbara landholding by ~129km2.
• The Company has also renegotiated the terms of its Earn-In Agreement with SQM.

Key amendments include:
o Newly acquired tenements (refer above) to be incorporated into the JV;
o SQM to spend a minimum of $500,000 on exploration by 15 December 2025 to retain its 30% interest in Kali’s DOM’s Hill and Pear Creek tenements;
o SQM have committed to an additional $1,000,000 of expenditure, now $4,250,000 by 15 December 2026, to earn a 50% interest in the expanded JV tenements; and
o Kali to retain 100% ownership of Marble Bar Project.

Paul Adams, Managing Director of Kali Metals commented:
“Kali is delighted to secure E45/6646, E45/6647 and E45/6457, all of which are strategically placed to allow Kali to expand its exploration plans in the highly prospective lithium region of the Pilbara. As flagged in its Prospectus, the Company has been assessing and reviewing a number of opportunities to expand its portfolio of assets and is pleased to be able to execute these agreements. This acquisition will increase our Pilbara lithium footprint and the potential of delivering value through the discovery of a lithium resource in the Pilbara.

"We are also pleased to have renegotiated the terms of our Earn-In Agreement with SQM to not only include these new tenements, but also increase the expenditure commitment for SQM’s 50% earn-in right, by $1 million. Kali has enjoyed a successful working relationship with SQM in the Pilbara, and we look forward to exploring with SQM on our new and existing tenements."