Junior roundup: Wealth, Neo Lithium, Equus, Aguia
Wealth Minerals arranged a non-brokered private placement of shares for gross proceeds of up to Cdn$4.13mn (US$3.09mn), a press release said.
Proceeds, the Vancouver-based company said, will be used to fund an initial option payment on the Atacama lithium project in Chile, the costs for the review and assessment of additional potential lithium mineral property acquisitions in South America and for general and administrative expenses and working capital.
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Neo Lithium received final engineering reports from companies Novigi and Celimin on the process required to produce lithium from its 3Q brine project in Chile. The reports, Neo said, show that the brine can be concentrated to a very high level by solar evaporation without adding high-cost additives.
The Toronto-based company has designed a pilot pond series that will be constructed and cover an area of about 1ha to apply the study results at the project. Construction is expected to start within the next month, Neo said in a statement.
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The shares of Sydney-based Equus Mining will resume trading on the Australian Securities Exchange on Tuesday following a trading halt request pending an announcement regarding a farm-in project in Chile, a securities filing said.
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Sydney-based Aguia Resources completed an Aus$8.5mn (US$6.47mn) share placement to institutional and sophisticated investors, a securities filing said.
The proceeds will be used to complete an infill drilling program at its Três Estradas phosphate project in Brazil in order to convert inferred mineral resources to measured and indicated mineral resources for the bankable feasibility study. Proceeds will also be used to commission and appoint a lead third party to oversee the study's completion.
Additionally, the funds will be used to explore a recently optioned project adjacent to Três Estradas, conduct all community consultations and public outreach programs, and for lease maintenance and general working capital purposes.
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News in: Mining & Metals (Chile)
Chile invites private sector to boost lithium production
After months of uncertainty, the government said it will invite private sector players to help develop Chile's lithium sector.
Chile's Enami seeks info on lithium extraction technologies
The state company wants to map companies offering innovative extraction technologies.
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...