logo-loader
viewLithium Australia NL

Lithium Australia NL prepares to spin out graphite assets in Western Australia

All Lithium Australia shareholders will be offered a priority entitlement to share subscriptions under the public offer.

au_wa__350_57d1eda3abb60.jpg

Lithium Australia NL (ASX:LIT) is preparing to divest its Western Australian graphite assets as part of an initial public offer on the Australian Stock Exchange.

The spin out will be a pure graphite play called Graphite Australia NL.

Graphite Australia NL has five graphite projects and has recently been granted two exploration licences at one of these projects, Greenhills.

Two experienced Western Australian mining business identities Tom Revy, and George Bauk will drive the proposed public offer.

All Lithium Australia shareholders will be offered a priority entitlement to share subscriptions under the public offer.


Greenhills

The Greenhills Project consists of two applications E70/4811 and E70/4812 having a combined area of 56 square kilometres.

The applications cover a number of historic graphite occurrences which have not been subject to
evaluation by advanced exploration techniques.

Historical tests from the area revealed a graphitic zone contained 8.7% total graphitic carbon and circa 10% of the flake graphite exceeded 600 microns in diameter, which is considered jumbo sized.


Sileach™ pilot plant testing

Lithium Australia recently commenced pilot testing of its 100% owned lithium extraction process, Sileach™, at the ANSTO Minerals facility in New South Wales.

The first test will consist of a 24 hour commissioning run of the circuit.

The results will then be examined prior to commencing continuous operations in about two weeks.

Pilot testing will lead to a decision being made to proceed with construction of a larger-scale pilot plant, for which Port Hedland is currently the preferred location.

Lithium Australia recently won its second grant, this time from the federal government to support the commercialisation of its Sileach™ process.


Definitive feasibility study


Data generated from operating the large-scale pilot plant will be used for feasibility investigations into the construction of a full-scale commercial Sileach™ processing plant.

In the event of a positive outcome of the definitive feasibility study, a joint venture between the company and Pilbara Minerals Ltd (ASX:PLS) will advance to commercial production, including finance and construction, on a 50/50 basis.

The study is due for completion in Q4, 2016 which will lead to deciding whether to proceed to a continuous, site-based pilot plant in Q1, 2017.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Lithium Australia NL

Price: 0.045 AUD

ASX:LIT
Market: ASX
Market Cap: $24.04 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Lithium Australia NL named herein, including the promotion by the Company of Lithium Australia NL in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Lithium Australia encouraged by lithium recovery rates from SiLeach pilot-plant

Lithium Australia's (ASX:LIT) managing director Adrian Griffin tells Proactive London's Andrew Scott  they've achieved a lithium recovery of +90% using their SiLeach process at the ANSTO Minerals pilot plant in New South Wales. Final reporting and data analysis by ANSTO supports...

on 22/11/18

3 min read