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Bradda Head Lithium Ltd (BHLIF) is a North America-focused lithium development group with interests in projects in Central and Western Arizona, including the Basin Project and the Wikieup Project. The company has recently mobilized drilling equipment at the Basin Project to expand its lithium resource estimate, targeting a minimum of 2.5 million tons of Lithium Carbonate Equivalent (LCE). The drilling program aims to triple the current Inferred and Indicated Mineral Resource Estimate (MRE) and trigger a US$3 million royalty payment from Lithium Royalty Company (LRC). The successful completion of this program will position Bradda Head well in the softened lithium market for the remainder of 2024.
Bradda Head Lithium Ltd. has appointed Panmure Gordon (UK) Limited as Joint Broker, effective immediately. This decision is poised to enhance the company's operational capabilities in the lithium sector, as expressed by CEO Charles FitzRoy, who emphasized the broker's extensive mining expertise. Bradda Head is focused on developing lithium projects in North America, particularly in Arizona, where significant resources have already been identified. The company's most advanced projects include the Basin Project and the Wikieup Project, which hold substantial mineral resources and exploration targets. The announcement also highlights the company's commitment to unlocking value in its various lithium assets, supported by its 100% equity ownership in all licenses.
Bradda Head Lithium Limited disclosed that Galloway Limited, controlled by director Jim Mellon, acquired an additional 8,000,000 shares on April 13, 2023. This purchase at 4.5 pence per share (totaling £360,000 or C$600,000) increased its aggregate ownership from 65,221,311 shares (16.70%) to 73,221,311 shares (18.75%) of the company's total shares. The acquisition reflects an increase of approximately 2.05% in total ownership. The shares were purchased for investment purposes, with potential plans for further acquisitions or dispositions by the acquiror.
Galloway Limited announced the acquisition of 8,000,000 ordinary shares in Bradda Head Lithium Ltd. on April 13, 2023, at 4.5 pence per share (C$0.075). This purchase increases Galloway's ownership from 16.70% to 18.75% of the total issued shares, a rise of approximately 2.05%. Prior to the acquisition, Galloway, along with joint actors Burnbrae Group Limited, Jim Mellon, and Denham Eke, held a total of 65,221,311 shares. The shares were acquired for investment purposes, and Galloway may continue to buy or sell shares in the future. For further details, an early warning report will be filed under National Instrument 62-103 on the Company's SEDAR profile.
Bradda Head Lithium Ltd. (BHLIF) announced on April 14, 2023, that Jim Mellon, a director of the company, purchased 8,000,000 shares at 4.5 pence each. Following this transaction, he holds a total of 73,097,004 shares, representing 18.71% of the company's ordinary share capital. The company is progressing its lithium pegmatite projects, with a recent drilling program at the San Domingo site and ongoing sonic drilling at the Basin Project in Arizona. Significant developments are expected in the next 6 to 9 months. Bradda Head aims to enhance its existing NI 43-101 compliant lithium resource, currently 21.2 million tonnes at an average grade of 891 ppm Li.
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