Review
Because the call for for blank applied sciences grows, so too does the call for for high-tech rechargeable batteries to energy the fairway financial system. Then again, the USA and the Eu Union’s present dependence on Japan, South Korea and China for 80 p.c of the arena’s battery manufacturing is threatening their auto business. As the biggest processor and manufacturer of those battery fabrics, China on my own can considerably affect pricing and provide chain flows.
America and the Eu Union are running to cut back dependence on those nations and restructure provide chains. Each areas have known Canada as a safe and solid supply of sustainable uncooked fabrics, akin to lithium, which is significant to the rising electrical car marketplace. Consequently, mining firms with Canada-based tasks that provide fabrics wanted for high-tech rechargeable batteries akin to lithium could also be a captivating alternative for traders to imagine.
Global Lithium (TSXV:ILC,OTC:ILHMF,FRA:IAH,OTCQB:ILHMF) is a mineral exploration corporate excited about growing a portfolio of lithium and uncommon metals tasks and royalties in Canada and Eire. The corporate is led by way of an skilled control group with a confirmed observe document of advancing potential tasks with low technical chance in established mining jurisdictions.
Global Lithium delivers shareholder price thru undertaking building, strategic partnerships and undertaking gross sales. The corporate’s tasks come with the Raleigh Lake and Avalonia tasks.
The corporate’s flagship Raleigh Lake undertaking is a completely owned and extremely potential lithium, rubidium and caesium undertaking in Ontario. Raleigh Lake spans 48,500 hectares adjoining to the Trans-Canada freeway and CPR railway, simply out of doors the city of Ignace, and contours promising drill effects. Drilling known stacked tabular dyke-like our bodies that gradually dip from floor, protecting a space of 600 meters alongside strike by way of 400 meters downdip with each and every dyke having grades corresponding to the three.78-meter period grading 1.72 p.c lithium oxide and a pair of,829 portions consistent with million (ppm) rubidium in drill hollow RL21-03. Prospecting on newly bought claims found out 20 new pegmatites at floor stage over a number of kilometers.
A certain initial financial overview for Raleigh Lake, launched in December 2023, presentations an annual after-tax money float of C$634 million, NPV of C$342.9 million, IRR of 44.3 p.c.
Global Lithium’s Avalonia undertaking is a three way partnership lithium undertaking situated in Leinster, Eire, spanning 29,200 hectares protecting a 50-kilometer belt. Drilling at the Avalonia undertaking returned 2.23 p.c lithium oxide over 23.3 meters together with 3.43 p.c lithium oxide over 6 meters and 1.50 p.c lithium oxide over 5.6 meters. The Avalonia undertaking is these days below an possibility settlement. Global Lithium these days owns 45 p.c.
“Global Lithium. is now in by way of some distance the most powerful monetary place that it’s been since its record in 2011, and we look ahead to construction effectively on that each at our lithium and rubidium undertaking at Raleigh Lake in Ontario and on our different provide and long term tasks,” stated chairman and CEO John Wisbey.
In October 2021, the corporate offered its proportion within the Mavis Lake three way partnership lithium and caesium undertaking in Ontario to Vital Assets (ASX:CRR) with proceeds totaling C$1.48 million and a imaginable additional C$1.38 million related to useful resource discovery milestones.
The corporate additionally offered its ultimate passion within the Mariana undertaking in Argentina for US$13.17 million, which has positioned Global Lithium in a robust monetary place to additional build up its liquidity. In 2021 on my own, the corporate raised C$4.9 million in fairness financing.
Global Lithium is these days excited about growing its flagship Raleigh undertaking, however the corporate additionally continues to spot further houses to develop its portfolio. In February 2024, Global Lithium entered into an settlement to procure 90 p.c passion within the Firesteel undertaking, a extremely potential grassroots copper and cobalt assets in Northwestern Ontario, signaling a variety of the corporate’s vital minerals portfolio. The corporate completed the acquisition of the Firesteel assets in Might 2024 and has filed packages for lets in to habits the primary drilling program at Firesteel focused on copper mineralization and take a look at as much as six distinct objectives with as much as 2,000 metres of core drilling.
Corporate Highlights
- Global Lithium is growing a portfolio of lithium and uncommon metals tasks and royalties in Canada and Eire, aiming to ship shareholder price thru undertaking building, strategic partnerships and undertaking gross sales.
- The corporate’s flagship Raleigh Lake undertaking is a completely owned and extremely potential lithium, rubidium and caesium undertaking in Ontario, Canada.
- The corporate produced its maiden useful resource estimate for lithium and rubidium and has launched a good initial financial overview for Raleigh Lake.
- Global Lithium has signed an settlement to buy 90 p.c passion within the Firesteel undertaking, a extremely potential grassroots copper and cobalt assets in Northwestern Ontario.
- The corporate’s 29,200-hectare Avalonia undertaking is a three way partnership lithium undertaking situated in a big belt in Leinster, Eire. Drilling at the undertaking returned 2.23 p.c lithium oxide over 23.3 meters together with 3.43 p.c lithium oxide over 6.0 meters and 1.50 p.c lithium oxide over 5.60 meters.
- Along Canada and Eire, Global Lithium has known Zimbabwe as a strategic jurisdiction within the corporate’s international lithium technique.
- Global Lithium is led by way of an skilled control group with a confirmed observe document of advancing potential tasks with low technical chance in established mining jurisdictions.
Key Initiatives
Raleigh Lake
The flagship Raleigh Lake undertaking is a completely owned lithium, rubidium and caesium undertaking situated straight away west of Ignace in Ontario, Canada. The Raleigh Lake undertaking spans 48,500 hectares and is offered by the use of the Trans-Canada Freeway. The undertaking additionally options get admission to to the Canadian Pacific railway, herbal gasoline pipelines and a hydropower line that crosses during the assets.
Drilling at the assets started in April 2021 and returned promising grades of lithium, sizable quantities of rubidium and small quantities of caesium. Drilling known mineralization hosted in a minimum of 4 primary pegmatites and extra noticed in outcrops. Drill effects come with 2.80 of lithium oxide over 9.0 meters in addition to 1.05 meters grading 2.69 p.c lithium oxide from 31.04 meters and 1.18 meters grading 4210 ppm rubidium from 29.86 meters inside a three.78-meter period grading 1.72 p.c lithium oxide and 2829 ppm rubidium.
In 2021, Global Lithium excited about comparing the regional attainable for added lithium-bearing pegmatites in and across the Raleigh Lake house and, because of this, has expanded the undertaking from 3,000 hectares to greater than 47,700 hectares, in line with research of regional geophysical and geological knowledge.
Segment 3 of the diamond drilling program, which started in September 2022 at Zone 1 of the Raleigh Lake Lithium undertaking intersected spodumene-bearing pegmatite, demonstrating super continuity of the mineralized frame.
Segment 3 drill highlights
- All Segment 3 holes checking out Pegmatite 1 in Zone 1 intersected spodumene-bearing pegmatite, demonstrating super continuity of the mineralized frame
- Thicker and higher-grade mineralization intersected nearer to the outside as expected.
- Segment 1, 2 and three pierce issues have intersected Pegmatite 1 alongside a strike period of over 800 meters and alongside its dip for over 400 meters.
Pegmatite 1 Spodumene Zone Intersection Highlights*
- RL22-45: 4.85 meters grading 2.06 p.c lithium oxide in decrease spodumene zone (from 89.5 meters);
- RL22-48: 15.82 meters grading 2.25 p.c lithium oxide (from 65.56 meters);
- RL22-49: 2.21 meters grading 2.47 p.c lithium oxide (from 72.69 meters);
- RL22-50: 4.62 meters grading 2.29 p.c lithium oxide (from 56.12 meters);
- RL22-56: 2.96 meters grading 2.13 p.c lithium oxide (from 72.42 meters);
Pegmatite 1 Rubidium-bearing Microcline Intersection Highlights*
- RL22-45: 3.98 meters grading 1.21 p.c rubidium oxide from 85.52 meters;
- RL22-57: 4.69 meters grading 0.60 p.c rubidium oxide from 152.51 meters.
Maiden Mineral Useful resource Estimate
Global Lithium launched its lithium and rubidium mineral useful resource estimates (MRE), which can be carefully similar because of their spatial relationships, however their respective useful resource estimates are regarded as separate and distinctive.
Lithium MRE
It is a abstract of the lithium MRE for lithium-caesium-tantalum (LCT) pegmatites of the Raleigh Lake pegmatite box. The open pit and underground MREs are constrained by the use of optimized pit shell and minable form wireframes, respectively.
Rubidium MRE
An impartial MRE has been calculated for the rubidium contained inside microcline zones of the LCT pegmatites. Rubidium additionally happens right through the LCT pegmatites throughout the lithium-bearing spodumene at a decrease cutoff however isn’t incorporated on this rubidium MRE. Rubidium attaining grades more than 4,000 ppm is attributed to wallet of excessive modal abundance of microcline (potassic feldspar). The open pit and underground MREs are constrained by the use of optimized pit shell and minable form wireframes, respectively.
Rubidium Open Pit and Underground MRE
In December 2023, Global Lithium launched its certain initial financial overview (PEA) for a proposed lithium mining operation to supply spodumene pay attention at Raleigh Lake. The PEA has demonstrated a extremely beneficial financial state of affairs in line with the manufacturing of a spodumene pay attention containing 6 p.c lithium oxide. Undertaking economics display an after-tax money float of C$634 million, NPV of C$342.9 million and IRR of 44.3 p.c consistent with annum, with a nine-year mine existence and undertaking period of eleven years.
Avalonia
Spodumene in boulder at Avalonia
The Avalonia undertaking is a three way partnership lithium undertaking situated in Leinster, Eire. The valuables spans 29,200 hectares protecting a 50-kilometer belt with round 29 vital lithium pegmatite occurrences. Drilling at the Avalonia undertaking returned 2.23 p.c lithium oxide over 23.3 meters together with 3.43 p.c lithium oxide over 6.0 meters and 1.50 p.c lithium oxide over 5.60 meters. Then again, some drill effects at the assets are nonetheless pending.
Global Lithium these days owns 45 p.c of the undertaking whilst Ganfeng Lithium owns 55 p.c. Ganfeng Lithium has the technique to achieve 79 p.c of the undertaking by way of spending C$10 million for exploration actions by way of September 2024 or by way of generating a good feasibility find out about. If the choice is exercised, Global Lithium will retain 21 p.c of the Avalonia undertaking which might scale back additional if the corporate does now not give a contribution to the undertaking. Then again, if the corporate’s possession turns into lower than 10 p.c then its proportion will convert to a 1 p.c NSR.
Firesteel Copper Undertaking
The 6,600-hectare Firesteel assets is composed of 17 mining claims, making up 316 mining declare devices in Northwestern Ontario. The valuables is adjoining to Freeway 17, lower than 10 kilometers west of Upsala, Ontario stretching westward to the Firesteel River for about 16 kilometers.
Firesteel is situated throughout the central Wabigoon Sub-province on the japanese prohibit of the Lumby Lake Greenstone Belt, which comprises huge mafic flows or gabbro interspersed with skinny felsic meta volcanic and uncommon pillowed mafic devices. Ancient assay effects from samples taken at places roughly 1.6 kilometers northeast and a pair of.8 kilometers southwest of the Roadside 1 Copper Zone returned values of as much as 2.6 p.c copper, 3.327 ppm gold and a pair of.6 p.c copper, 4.294 ppm gold, respectively (Bumbu 1995).
Control Workforce
John Wisbey – Chairman and CEO
John Wisbey joined the board of ILC in 2017. After a couple of months, he changed into deputy chairman after which he changed into chairman and CEO in March 2018. He has individually invested vital price range in ILC since becoming a member of the board and is now ILC’s greatest shareholder. He has had a occupation as a generation entrepreneur and may be a former banker. Extra lately, Wisbey was once a inexperienced power entrepreneur. He based two London AIM-listed firms –– IDOX plc which gives instrument for the United Kingdom native govt and Lombard Possibility Control plc which focuses on instrument for financial institution chance control and law. He additionally established CONVENDIA Ltd. which is a personal corporate that makes a speciality of instrument for money float forecasting, undertaking valuation and M&A monetary research. Wisbey holds quite a lot of non-executive director roles in the United Kingdom and Switzerland. He was once previously a banker at Kleinwort Benson. At Kleinwort Benson, he held quite a lot of roles, together with a director within the derivatives team, head of choices and company lending. Wisbey has acted as a public corporate chairman, CEO, or director for two decades. He’s a graduate of Cambridge College.
Maurice Brooks – Director and CFO
Maurice Brooks joined the board of ILC in 2017. He’s an authorized senior statutory auditor in the United Kingdom. Since 2000, he has been a senior spouse at Johnson Smith & Co. in Staines, Surrey. Ahead of that, Brooks was once a senior spouse in Johnsons Chartered Accountants within the London Borough of Ealing. His business and funding enjoy contains govt directorships in production and an funding accountant position to the superannuation fund of the Western Australian state govt. His early skilled employment contains Ball Baker Leake LLP and LLC and Worth Waterhouse Coopers-UK.
Anthony Kovacs – Director and COO
Anthony Kovacs joined the board of ILC in 2018 and has labored with the corporate since 2012. He has over 25 years of enjoy in mineral exploration and building. Ahead of becoming a member of ILC, he held senior control roles through which he sourced and complicated iron ore and commercial minerals tasks. Kovacs was once fascinated by early-stage paintings on the Lac Otelnuk Iron Ore undertaking in Quebec, Canada and the Mustavaara Vanadium Mine in Finland. Ahead of that, Kovacs labored for Anglo American the place he excited about Ni-Cu-PGE and IOCG tasks. At Anglo-American, Kovacs was once without delay fascinated by a number of discoveries across the world. Kovacs has vital enjoy with commercial minerals, ferrous metals, non-ferrous metals and valuable metals tasks right through the Americas, Europe and Africa.
Ross Thompson – Non-executive Director
Ross Thompson joined the board of ILC in 2017 and is the chair of the audit and remuneration committees. He’s a speaker and knowledgeable in advertising and marketing behavioral science. In 1995, he based Giftpoint Ltd. which is now probably the most greatest specialist promotional products companies in the United Kingdom. with places of work in London and Shanghai. Giftpoint Ltd.’s purchasers come with L’Oreal, Oracle, Ocado and Pernod Ricard amongst others. Thompson was once president of IGC International Promotions, probably the most global’s oldest and biggest international networks of top class resellers, for seven years. He’s an energetic investor with a unique passion and working out of herbal assets companies.
Geoffrey Baker, Non-executive Director
Geoff Baker joined the board of ILC on the finish of 2022, and is a member of the audit committee. He has a prominent occupation within the herbal useful resource and finance industries. He’s a director of Tim Buying and selling, an organization providing consultancy products and services within the oil and gasoline business. Throughout his tenure as supervisor of Insch Black Gold Budget, Baker won the Buyers Selection Swiss Fund Supervisor of the 12 months Award. He’s a co-founder of a virtual collectible non fungible token CryptoChronic and of Cannastore, a pilot e-commerce website online. Baker holds a bachelor’s stage from the College of Windsor in Ontario.
