CAPITAL MARKETS

Plymouth garners lithium funds

SPAIN lithium play Plymouth Minerals has found more than A$6 million of backing for its San Jose project, where a feasibility study is set to be completed late next year.

Michael Quinn
Plymouth garners lithium funds

A $6.5 million capital raising that priced new shares at 18c each was supported by Hartleys and Canaccord, with the junior’s previous tapping of the market occurring in July when it issued new stock at a price of 17c per share.

San Jose has a 25.2 million tonne resource grading 0.9% lithium oxide and 0.03% tin (based on an 0.35% lithium cut-off) – or 112Mt at 0.61% lithium oxide and 0.02% tin using an 0.1% cut-off.

Plymouth has a 50% stake in the project and can increase that to 75% by completing the feasibility work.

Plymouth’s partner at the project is large Spanish construction company Sacyr.

San Jose’s advantages are said to include its infrastructure-rich location and its open pit-low strip setting.

Plymouth also owns an early stage, potentially world class, potash exploration asset in Gabon that it’s seeking to divest.

Shares in Plymouth were off 7% to 20.5c in late morning trade, capitalising the company at $31 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.