ASX-listed Galaxy Resources
Ltd has received a capital expenditure schedule
totalling Australian dollar (A$) 7m ($4.89m*) from
General Mining Corp Ltd, the operator of its
Mount Cattlin spodumene and tantalum project near Ravensthorpe,
Western Australia (WA), where it intends to restart operations
The A$7m figure includes purchase orders
for plant equipment, fabrication, engineering and installation
services that had been made as of 31 December 2015.
Mount Cattlin is expected to reach fines
circuit commissioning in March and coarse circuit commissioning
in June before making its first shipment of concentrate in July
and achieving full optimisation in December this year.
Orocobre Ltd called a
trading halt on 20 January ahead of the completion of a
placement of A$85m on 22 January.
The company issued around 40,500 shares to
domestic and international institutional and sophisticated
investors at an issue price of A$2.10/share.
The funds will be used primarily to
finance its Olaroz project in Argentina, where it is currently
ramping up lithium carbonate production, including
principal and interest payments due in March and September this
Also listed on the ASX, Lithium
Australia NL has "completed the formalities" of an
A$4m placement to Lanstead Capital LP, which
represents part of an A$6.55m placement package at a price of
earlier this month. .
Lithium Australia’s CEO,
Adrian Griffin, noted that Lanstead is now the
company’s first institutional investor.
Separately, the company said it is set to
commence exploration work at its Ravensthorpe project in
The Ravensthorpe project is situated on
the Cocanarup pegmatite field, 20km outside the town of
Ravensthorpe, and covers an area of 70km2, including
a 20km-long structural trend the company has described as
"highly prospective" for lithium pegmatites.
Metalicity Ltd has begun
lithium exploration at its Pilgangoora South project in the
Pilbara region of WA, comprising the Turner and Stannum
The company said that exploration work was
sufficiently funded by A$5m cash held in the bank.
In Tanzania, ASX-listed Liontown
Resouces Ltd has intersected high-grade lithium and
tantalum mineralisation during trenching work at its Mohanga
project in the central part of the East African country.
The company said that the results confirm
the potential of the project to host "significant lithium
mineralisation" and have given it the confidence to progress
Mohanga was acquired by Lionstown last
year and contains a number of historical pegmatite-hosted
lithium occurrences, the only reported in Tanzania.
Outside of Australia, meanwhile,
AIM-listed Bacanora Minerals Ltd, currently
developing the Sonora lithium project in northern Mexico, has
entered into a consultancy agreement with a private company to
investigate procurement options for the company’s
The 18-month agreement will cost Bacanora
a quarterly fee of £57,000 ($81,320) and 1m share
options, which can be exercised for a price of £0.77.
TSX-V-listed Nevada Sunrise Gold
Corp. has entered into a letter agreement to grant a
50% working interest in its Gemini lithium project in Esmeralda
County, Nevada to Eureka Resources Inc.
Under the agreement, Eureka will gain the
right to acquire a 50% stake in the project by reimbursing
Nevada Sunrise for 50% of the site’s acquisition
costs of around $85,000 and by issuing it 500,000 common
Nevada Sunrise acquired the site through
purchases in November and December 2015.
Durango Resources Inc.
has entered into a right of first refusal on a hot spring
property in northern British Columbia, Canada, which it said
holds historic lithium values.
The site has been given the moniker "The
Force Awakens" and is located near to Durango’s
Mayner's Fortune property.
"The project is in an area that the
Company is very familiar with and allows for easy low cost
sampling and exploration so Durango is looking very closely at
this lithium property," Durango’s CEO, Marcy
Dajin Resources Corp.,
listed on the TSX-V and Frankfurt exchanges, said that a
preliminary structural study has now been completed at its
Teels Marsh project in Mineral County, Nevada.
The study, which made use of gravity,
magnetic and geochemical data already collected, involved the
development of a new structural model of the basin and
identified drill targets to test favourable aquifers that may
contain lithium-rich brines, the company said.
TSX-V-listed Pure Energy Minerals
Ltd said it had successfully drilled a well to 1,500
feet (456 metres) during the winter drill programme at its
Clayton Valley South lithium brine project in Esmeralda County,
Samples from the programme, which used a
rotary coring technique, have been sent for geochemical
analyses – to better understand lithium content of the
solids infilling the basin – and porosity testing
– to better understand the fluid content of the
sediments – while drilling has commenced on another
In downstream news, Japanese automotive
manufacturer Nissan Motor Co. Ltd has said it
will produce its future generation electric vehicle (EV)
batteries from its plant in Sunderland, UK, in an investment
valued at £26.5m.
lithium-ion battery production facility is the largest of its
type in Europe. It will now provide battery modules for the
company’s Nissan LEAF hatchback and e-NV200
Nissan sold 43,651 units of the LEAF model
worldwide in 2015, with Europe accounting for 15,630 units.
*Conversions made January