LEL - Lithium Energy

[System]

Lithium Energy Limited holds a 90% interest in the Solaroz Lithium Project (Argentina) and is entitled to acquire a further 23.5% interest in the Burke Graphite Project (Queensland) (to make it a 100% owner) via wholly owned subsidiaries of the Company.

The principal focus of the Company will be to fund the exploration and potential development of the Company's flagship Solaroz Lithium Project in Argentina.

The Solaroz Lithium Project comprises 12,000 hectares of highly prospective lithium mineral tenements located within the Salarde Olaroz Basin in South America's "LithiumTriangle" in north‐west Argentina. The Solaroz Lithium Project is directly adjacent to or principally surrounded by mineral Tenements held by Orocobre Limited (ASX/TSX:ORE) and Lithium Americas Corporation (TSX/NYSE:LAC).

The Company holds its interest in the Solaroz Lithium Project through a wholly owned Australian subsidiary (being LEOPL) which in turn holds a 90% shareholding in an Argentinian subsidiary company (being Hananta) which has the right to acquire a 100% interest in the Solaroz Tenements upon completion of a series of staged milestone payments.

The location of Solaroz is considered by the Company to be highly strategic and prospective for commercial quantities and concentrations of lithium‐rich brine as the Company believes the aquifer which supplies the lithium‐rich brine being extracted by Orocobre is likely to extend under the Company's Solaroz Tenements.

In addition to its lithium assets, the Company owns the Burke Graphite Project located in Queensland which contains a high grade graphite deposit and presents the opportunity for the Company to participate in the anticipated growth in demand for graphite and graphite related products.

The Company has an approximate 76.5% beneficial interest in the Burke Tenements, pursuant to the Burke Farm-In Agreement with Burke Minerals Pty Ltd (BMPL). BMPL is the registered holder of the Burke Tenements and the owner of the residual approximately 23.5% beneficial interest in the Burke Tenements. The Company, through a wholly owned subsidiary (being LEAOPL), has entered into a Share Sale and Purchase Agreement to acquire all of the shares in BMPL conditional upon, amongst other matters, the completion of its IPO.

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

Lithium Energy – Powering the Future

www.lithiumenergy.com.au

 

[Dona Ferentes]

Listing date	24 May 2021 #
Company contact details	https://www.lithiumenergy.com.au/ Ph: (08) 9214 9737
Principal Activities	Mineral exploration and development
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	LEL
Capital to be Raised	$9,000,000
Expected offer close date	29 April 2021
Underwriter	Fully underwritten. Canaccord Genuity (Australia) Limited (Underwriter and Lead Manager)

 

[TechnoCap]

Listing date	24 May 2021 #
Company contact details	https://www.lithiumenergy.com.au/ Ph: (08) 9214 9737
Principal Activities	Mineral exploration and development
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	LEL
Capital to be Raised	$9,000,000
Expected offer close date	29 April 2021
Underwriter	Fully underwritten. Canaccord Genuity (Australia) Limited (Underwriter and Lead Manager)

I'm in for 50,000 shares so fingers crossed

 

[TechnoCap]

oversubscribed to the hilt
watch this space come launch late May

 

[Dona Ferentes]

oversubscribed to the hilt
watch this space come launch late May

?

 

[Dona Ferentes]

The $9M IPO (pursuant to a Prospectus dated 30 March 2021) was fully underwritten and was significantly oversubscribed. Eligible Strike Resources (SRK) shareholders who applied under the pro-rata Strike Priority Offer will be issued their maximum entitlements. Applicants under the Public Offer will be scaled back by Lithium Energy in consultation with the IPO Lead Manager and Underwriter, Canaccord Genuity.

At completion of the spin-out, Strike will hold 34.4 million shares in Lithium Energy comprising a 43% shareholding.

 

[Dona Ferentes]

Geological modelling undertaken provides an interpretation that the alluvial deposits upon which the Solaroz Tenements are located (at the North-Western corner of the Salar de Olaroz and nominally bounded to the West by an interpreted bounding fault) have been deposited relatively recently and lie directly above the productive deep sand unit of the lithium rich aquifer from which Orocobre is currently extracting its brine (the Deep Sand Unit).

The initial exploration works will seek to outline the architecture of the Salar de Olaroz basin within the bounds of the Solaroz Concession area with the aim of defining areas where the target Deep Sand Unit is present and likely the to be thickest, as well as defining the location of any vertical faults which may have impacted the development of the Deep Sand Unit.

 

[Dona Ferentes]

LEL hit the boards today. Opened at 36c, a bit of enthusiasm got to 40c and settling around 38c.

Not a bad stag for a 20c IPO

 

[TechnoCap]

LEL hit the boards today. Opened at 36c, a bit of enthusiasm got to 40c and settling around 38c.

Not a bad stag for a 20c IPO

when do we find out the allocation of shares @Dona Ferentes ?

 

[Dona Ferentes]

when do we find out the allocation of shares @Dona Ferentes ?

Advanced Share Registry has despatched relevant Issuer Holding Statements and CHESS Notices to successful applicants and refund cheques in respect of unsuccessful/scaled-back applications.

If you have a log-in to Advanced, it should show up there . Also if CHESS broker holding, will show as one of the holdings by tomorrow (in my experience). But .... Refund by cheque !!

Sadly, I didn't get any.

 

[TechnoCap]

Advanced Share Registry has despatched relevant Issuer Holding Statements and CHESS Notices to successful applicants and refund cheques in respect of unsuccessful/scaled-back applications.

If you have a log-in to Advanced, it should show up there . Also if CHESS broker holding, will show as one of the holdings by tomorrow (in my experience). But .... Refund by cheque !!

Sadly, I didn't get any.

looks like I've dipped out too unfortunately

 

[Dona Ferentes]

Not too many insto's on the Top 20

Top 20 Holders of Fully Paid Ordinary Shares

Rank ... Shareholder name ........... % Issued Capital
1. STRIKE RESOURCES LIMITED .............. 43.01%
2. MR ADAM WILLIAM CONNON + MRS BELINDA ANN CONNON ... 2.05%
3. RUBI HOLDINGS PTY LTD ............ 1.94 %
4. BENTLEY CAPITAL LIMITED ........... 1.56%
5. NORFOLK BLUE PTY LTD ............... 1.49%
6. RECO HOLDINGS PTY LTD ........... 0.97%
7. IRIS SYDNEY HOLDINGS PTY LTD ... 0.87%
8. PINGHUA LIU .................................. 0.80%
9. HONGZE GROUP LTD .................... 0.80%
10. INYATI FUND PTY LTD ................. 0.77%
11. MR VU QUANG MINH DANG + MRS THI KIM DAU NGUYEN .... 0.62%
12. THREEBEE INVESTMENT GROUP PTY LTD ................. 0.62%
13. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED ... 0.58%
14. MR JACKIE AU YEUNG ....................................... 0.58%
15. MR HAN SWEE TAN ......................................... 0.58%
16. MR ROBERT VELLETRI + MRS FRANCINE LEE VELLETRI ... 0.58%
17. MACARONIS PTY LTD ...................................... 0.57%
18. PETER CRAIG SMITH ...................................... 0.56%
19. MR MICHAEL OWEN SHERRY ....................... 0.52%
20. RAINMAKER HOLDINGS (WA) PTY LTD ........ 0.52%
TOTAL ........................................ 59.99%

 

[frugal.rock]

Another one that I think the chart looks good for a run, market conditions pending.
Not held but considering.

 

[TechnoCap]

short term movement is still positive on low volume
Will be boosted by EIA tenement approvals which are due now
This one could move very quickly and I will continue to monitor

 

[greggles]

Breakout for LEL late last week after the company announced that all government approvals have now been received for exploration and drilling to commence at all concessions at Lithium Energy’s Solaroz Lithium Brine Project in Argentina. A major exploration project is now underway.

Don't forget LEL's Queensland graphite project in Queensland.

Market cap is currently around $100 million.

 

[peter2]

Price pops higher and mgt elects to raise capital. LOL not LEL.

 

[Dona Ferentes]

Don't forget LEL's Queensland graphite project in Queensland.

Price pops higher and mgt elects to raise capital. LOL not LEL.

And then LULL, and back again. Will it , won't it*?

*raise more $$s? change name?

 

[frugal.rock]

Price pops higher and mgt elects to raise capital. LOL not LEL.

Laugh
Extra
Loud ?

 

[Dona Ferentes]

pumping the Lithium story. ... but how long b4 Argentina nationalises?
.

Assays from the initial packer samples collected have returned significant lithium concentrations of up to 508 mg/L with total (conductive brines) intervals of 401.5 metres in SOZDD004 and lithium concentrations of up to 479 mg/l with total (conductive brines) intervals of 369.5 metres in SOZDD005 encountered in the upper and lower aquifers to date. Assays are still pending on some packer samples and sampling is ongoing as both drill rigs continue drilling within the Deep Sand Unit to basement.
Assay results to date have also confirmed that lithium concentrations are generally increasing at depth indicating a hydraulically linked system with heavier lithium rich brines settling lower into the aquifer.
Sampling for lithium mineralisation in the conductive brines at each hole is being progressively undertaken with further field testing and assay results pending.
These results follow the significant lithium discovery made at the first drill hole (SOZDD001, on Mario Angel concession) and the third drill hole (SOZDD003 on the Chico I concession) – drillholes SOZDD004 and SOZDD005 are located along a ~15 kilometre zone between SOZDD001 and SOZDD003.
The results from drillholes 1 to 5 to date (including the intersection widths and grades of conductive /lithium brines, together with the chemical composition and geophysical measurements), when taken together with the interpretation of geophysics surveys undertaken across the Solaroz concessions, support Lithium Energy’s geological model of extensive sandstone aquifers hosting lithium-rich conductive brines being present in the northern central section of the Salar de Olaroz basin (the Olaroz Salar) below substantial portions of the Company’s ~12,000 hectare concession holding at Solaroz.


William Johnson, Executive Chairman:
"Drillholes SOZDD004 and SOZDD005 have delivered our biggest intersections to date of lithium rich brines at Solaroz, with 401 metres of brines encountered in SOZDD004 and 369 metres in SOZDD005 so far. Further assay results to current drill hole depth are yet to be received, with drilling ongoing in each hole to test the basement depth of the Deep Sand Unit. Therefore, there is potential for the intersections to increase in each hole.

The significance of these intersections cannot be overstated. Firstly, the results from these holes, which are located between lithium discovery drillholes SOZDD001 and SOZDD003, together with interpretation of recent geophysics confirms the continuity of lithium rich brines along a ~15 kilometre zone between Solaroz drillholes SOZDD001 and SOZDD003.
Secondly, these drillholes have demonstrated the potential of the Deep Sand Unit to host substantial volumes of lithium higher in grade compared to the upper aquifer. Drillhole SOZDD004 has intersected over 243 metres of conductive brines in the Deep Sand Unit so far, with reported assays of lithium up to 508 mg/litre and with drilling yet to reach the aquifer basement, and assays pending. Similarly, drillhole SOZDD005 has intersected 206 metres of conductive brines in the Deep Sand Unit, with assay results to date of up to 479 mg/litre. Drilling is still advancing in brines to test the aquifer basement and reported lithium grades are generally increasing with depth. Drilling is yet to reach the aquifer basement, with further sampling and assays pending.

These recent results ... provide further confirmation of a potentially world class resource of lithium at Solaroz. A third drilling rig is preparing to mobilise to site and with three rigs soon to be operating concurrently, we are rapidly advancing towards defining our maiden JORC resource at Solaroz."

 

[Dona Ferentes]

And pushing 20% higher today on resource data, on top of the AKE related speculation yesterday.