CAPITAL MARKETS

Ardiden finds more funding for lithium, gold ventures

Canaccord is underwriting latest raising for Canadian play

This article is 7 years old. Images might not display.

The latest raising is priced at 1.3c per share, with $2.25 million being raised last quarter when shares were issued at 1.8c.

Funds from the raising last quarter were also earmarked for Seymour Lake and due diligence drilling at Pickle Lake.

The equity raisings are in addition to Ardiden reporting in February the signing of a binding agreement with Long State Investments to provide the ASX-listed junior with up to $15 million over the next two years.

Ardiden said "members of the … board" were participating in the latest fund raising assuming relevant shareholder approval.

Canaccord is underwriting the $6.1 million raising, with the capital markets firm also appointed to provide ongoing corporate advisory services.

On the ground Ardiden reported last month it had identified 100 new lithium targets at Seymour Lake - following a review of satellite imagery.

Shares in Ardiden were up 8% to 1.4c in morning trade, capitalising the company at$16.5 million.

The stock spiked to levels around 3c four months ago.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Investor Sentiment Insights 2026

Discover what investors have planned for mining in 2026 in our industry-leading survey

editions

World Risk Insights 2025 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 120 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.