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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 Limited has certified its interim filings for the period ending on November 30, 2022. The Chief Financial Officer, Piotr Schabik, confirmed that the interim financial report and management discussion & analysis (MD&A) do not contain any material misstatements and fairly present the issuer's financial condition and performance. This certification is a requirement under Canadian securities law for venture issuers, although it does not include representations related to the establishment and maintenance of internal controls. Investors should note the inherent limitations of disclosure controls for venture issuers.
Bradda Head Lithium Limited reported its management discussion and analysis for the three and nine months ending November 30, 2022. The Company recorded a net loss of US$3,074,862, compared to US$2,705,148 in the prior year. Major expenditures included US$1,979,620 in exploration costs, mainly across three projects: Basin, Wikieup, and San Domingo. General and administrative expenses surged to US$4,242,520, up from US$1,690,543 year-over-year. As of November 30, 2022, the Company held cash and equivalents of US$10,603,037, ensuring a working capital surplus of US$9,697,220. The results reflect ongoing lithium exploration efforts in North America.
Bradda Head Lithium Ltd (AIM:BHL) reported its unaudited interim results for the three and nine months ending November 30, 2022. Significant highlights include a continued drilling program at the San Domingo pegmatite project, where lithium-bearing minerals like spodumene were found. Additionally, the Company announced an updated Mineral Resource Estimate (MRE) at Basin East, adding 65 kt of lithium carbonate equivalent (LCE) to reach a total of 371 kt. Cash balances stood at $10.6 million with total assets of $19.6 million. The Company is optimistic about ongoing developments, with a focus on exploration and updating shareholders on progress.
Bradda Head Lithium Limited has released its unaudited condensed interim financial statements for the nine-month period ended November 30, 2022. The company reported a loss of US$3,074,862, compared to a loss of US$2,705,148 in the same period the previous year. General and administrative expenses surged to US$4,242,520, primarily due to increased contractor costs and share-based payments. Cash and cash equivalents rose to US$10,603,037, up from US$7,327,303 in February 2022. Total assets increased to US$19,584,569 from US$13,354,840. No impairment was recognized in exploration assets, and the company issued 73,195,560 warrants during the period.
Bradda Head Lithium Ltd. (BHLIF) has engaged Red Cloud Securities Inc. for market-making services and Dig Media Inc. for an advertising campaign to enhance investor awareness in North America. The agreements, effective from January 1, 2023, include a CA$5,000 monthly fee for Red Cloud and CA$57,600 for INN, payable quarterly. CEO Charles FitzRoy emphasized the company's commitment to increase liquidity and visibility in the North American market. Key projects include the Basin Project and San Domingo in Arizona, with upcoming drilling results expected shortly.
Bradda Head Lithium Ltd (AIM:BHL, TSX-V:BHLI, OTCQB:BHLIF) has updated its operational timeline and presentation on its website, focusing on lithium development in Arizona and Nevada. Key items include a new soil sampling initiative at the San Domingo project aimed at identifying drill targets, and a follow-up drill program at Wikieup building on previous successes. The Basin East Project boasts an Indicated Mineral Resource of 21.2 Mt averaging 891 ppm Li. The company aims to fast-track asset development while exploring further opportunities in North America.
Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF) has announced delays in receiving assay results from its San Domingo drilling program due to high demand at North American assay labs, exacerbated by the holiday period. Results are now expected to be available this quarter. As part of its TSX listing that began in November 2022, the company will participate in the upcoming PDAC mining conference in March 2023. Bradda Head is focused on advancing multiple lithium projects in Arizona and plans to release an updated presentation detailing its timelines for 2023. The company holds a 100% equity stake in its licenses and is working to unlock value from its assets.
Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF) announced its senior management will open trading on the TSX-V on January 26, 2023. The company believes the TSX-V listing will enhance visibility among investors, increase liquidity for shareholders, and offer Canadian investors a chance to reposition their UK-held securities. CEO Charles FitzRoy expressed optimism for 2023, citing significant catalysts across their projects. The Basin East Project has an indicated resource of 21.2 Mt at an average of 891 ppm Li.
Bradda Head Lithium Ltd. (AIM:BHL, TSXV:BHLI, OTCQB:BHLIF) announced a 22% increase in contained lithium carbonate equivalent (LCE) tonnes at its Basin East Project in Arizona, with a total of 371 kt LCE following a 1,200m drilling program. The updated Mineral Resource Estimate highlights a 17% increase in Indicated resources, now totaling 100 kt LCE at an average grade of 891 ppm Li. The Upper Clay zone has expanded by 11% to 55 Mt, revealing further exploration potential. A comprehensive 30-hole drilling program is planned for 2023, aimed at expanding the resource base further.
Bradda Head Lithium Ltd. (BHLIF) announced the adoption of a Stock Option Plan, pending shareholder approval at their upcoming annual meeting. The plan allows the issuance of stock options up to 10% of the company's issued shares. Currently, 8.3% is under option. Additionally, the company plans to grant 1,000,000 options to Independent Non-Executive Directors at an exercise price of 10.5 pence, reflecting a 24% premium to the market close. If shareholder approval is not obtained, the Stock Option Plan and new options will terminate.
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