GT1 - Green Technology Metals

[System]

Green Technology Metals Limited was incorporated as a private company on 12 March 2021 in the State of Western Australia and is an exploration and development company focused on the discovery and delineation of lithium mineral resources in Canada. The Company converted to a public unlisted company on 1 July 2021.

The Company’s three projects are prospective for lithium mineralisation. The Root Lake Project is located 300km north-west of Thunder Bay in Ontario. The Seymour Lake Project is located 250km north of Thunder Bay in Ontario. The Wisa Lake Project is located 80km east of Fort Frances in Ontario.

It is anticipated that GT1 will list on the ASX during October 2021.

Green Technology Metals – Green Technology Metals is a North-American Focussed Lithium Exploration Company based in Subiaco Western Australia.

www.greentm.com.au

 

[Dona Ferentes]

Listing date	28 October 2021 12:30 PM AEDT ##
Company contact details	https://www.greentm.com.au/ Ph: +61 8 6557 6825
Principal Activities	Mineral exploration
GICS industry group	TBA
Issue Price	AUD 0.25
Issue Type	Ordinary Fully Paid Shares
Security code	GT1
Capital to be Raised	$24,000,000
Expected offer close date	12 October 2021
Underwriter	Not underwritten. Canaccord Genuity Financial Limited and Bell Potter Securities Limited (Joint Lead Manager)

 

[Dona Ferentes]

The boom conditions for lithium stocks helped lithium aspirant Greentech Metals to post an impressive result on its first day of trading on the ASX on Wednesday.

Opening close to 50c, shares in the explorer closed 56 per cent higher than its initial public offering price at 39¢.

Greentech, which is led by former Pilbara Minerals founder John Young and counts US commodity trader AMCI as its biggest shareholder, is developing spodumene assets in Canada.

 

[Dona Ferentes]

Posted without comment. Work it out for yourselves

Lithium explorer Green Technology Metals has spent four lucrative days on the ASX. It spent most of Monday at 40¢, which is some 60 per cent above the 25¢ it listed at on Wednesday.

That’s very good news for shareholders. And the filed notice of the company’s top 20 of them, as of November 4, isn’t short of interesting names.

Coming in right at No. 20 (with 800,000 shares worth $328,000) is one Hans Mende, the US-based billionaire coal investor and American Metals and Coal International co-founder. AMCI managing director Patrick Murphy is on the board (and holds 2 million shares worth $800,000), which perhaps explains how Mende got involved.

Further up the list, three more names stand out: Reginald Spencer (with 1 million shares worth $400,000), Timothy McCormack (with 2 million) and Digby Gilmour (with 2.6 million shares, or 1.3 per cent of the company worth $1 million).

Spencer and McCormack are mining analysts at Canaccord Genuity and Gilmour is Canaccord’s executive director of institutional sales.

Canaccord was one of two joint lead managers on the non-underwritten raising (with Bell Potter) and earned a 3 per cent fee (and plenty of options) for its trouble.

But it’s understood all three took part in one of the company’s early funding rounds well before Canaccord secured its mandate (meaning they didn’t take up any of the shares it offered in the float). Forget a 60 per cent return: their capital gains would be far higher than that

 

[waterbottle]

Insider buying?

It's an interesting project and close to the US border. My only problem is that production isn't until 2024/2025.

That's a whole lot of risk.

Particularly when lithium is sky-rocketing and Canada has a bunch of home grown miners who are closer to production

 

[frugal.rock]

I'm wondering, as a long-term holder of ADV, suddenly I find my lithium prospect gone to GT1
How the heck did I miss this?
ADV had better be onto a Tier 1 golden gorilla to do this to me...?

 

[Sean K]

Trying to really understand the hype here. The three main targets they have in Canada have an exploration target of around 10-20Mt @ .8-1.5% Li2O. Is this tonnage good for a lithium project? Is that economical? I suppose it's Canada which is a big plus and even at 80c it's MC is still relatively low to something like an AVZ. AVZ have 400Mt @ 1.6% in the DRC and their MC is around $2.1b. So, maybe not a fair comparison to get a grip of the price rise of GT1. Maybe it's just a meme commodity. Anything with lithium in it is going to run. Good to play as a trader with then momentum I guess.

 

[Sean K]

Did someone say bubble? ? There's no bubble emoji so a red flag will do.

These guys are flying because they have lithium projects and they announced they had 'started drilling' Seymour that has a 4.8Mt resource.

I suppose you can just trade this with stops.

 

[waterbottle]

The advantage would be resource location. It's close to sayona mining and piedemont lithium, both of whom are positioning to take advantage of Tesla and other nearby automakers.

 

[Sean K]

I suppose this will light up green eyes.

 

[waterbottle]

Interesting early lithium explorer/miner.

I've thrown some money at it for the following reasons:

• Close proximity to the US (in Canada) with an environment conducive to mining c.f South America or Africa
• High spodumene price
• Recent acquisition of additional tenements
• Likely resource upgrade based on drill results in January

And now they're increasing ownership of their Canadian joint venture to 80%

Hopefully this heads in the same direction as PLL and SYA

 

[waterbottle]

Should be approaching release of drilling results soon (original target was Q2 2022).

North America is shaping up to be the leader of the future Green economy. Canada now contributing $2billion over the next few years to a green transition.

GT1 is poised to take advantage of this, particularly with their intention to provide a vertically integrated lithium chain.

 

[Dona Ferentes]

Did someone say bubble? ? There's no bubble emoji so a red flag will do.

These guys are flying because they have lithium projects ...

and GT1 got to a high of $1.16. Time to pass the hat around.

Green Technologies Metals is in a trading halt and looking for $50 million; it already has a commitment for about $US10 million ($14 million) from Lithium Americas which would become a substantial shareholder.

The offer was priced at $1.05 per share, a 9 per cent discount to the last close. It was to be split into two tranches: a $31.7 million tranche under the current placement capacity while the rest would need shareholder approval.

Potential investors were told Green Technology Metals had entered into a placement agreement with Lithium Americas Corporation; it would mean Lithium Americas would own 5.3 per cent of the Green Technology Metals after the raise.

 

[waterbottle]

Cap raises are inevitable for any junior miner/Explorer, unless they've figured out a way to dig literal cash out of the ground (or crypto?)

The GT1 play really hinges on the results of their assays. Here's to hoping that they'll be positive, particularly given a LAC is willing to throw some (small) money at them...

 

[Dona Ferentes]

and GT1 got to a high of $1.16. Green Technologies Metals is in a trading halt and looking for $50 million; it already has a commitment for about $US10 million ($14 million) from Lithium Americas which would become a substantial shareholder.

Lithium Americas is headquartered in Canada with projects in Argentina and North America. It is listed on both the Tokyo Stock Exchange and the New York Stock Exchange, with a $4 billion market capitalisation.

The agreement includes a standstill clause that would stop Lithium Americas from building its stake to more than 10 per cent of Green Technology Metals (without consent) over the next 12 months.

The two have also signed a non-binding framework around a strategically located, integrated lithium business in North America, which would cover the lithium processing and production value chain, from spodumene processing to production of battery grade lithium.

 

[waterbottle]

Lithium Americas is headquartered in Canada with projects in Argentina and North America. It is listed on both the Tokyo Stock Exchange and the New York Stock Exchange, with a $4 billion market capitalisation.

The agreement includes a standstill clause that would stop Lithium Americas from building its stake to more than 10 per cent of Green Technology Metals (without consent) over the next 12 months.

The two have also signed a non-binding framework around a strategically located, integrated lithium business in North America, which would cover the lithium processing and production value chain, from spodumene processing to production of battery grade lithium.

Excellent news for GT1... This is akin to PLL taking a stake in SYA

 

[noirua]

Green Technology Metals (ASX:GT1) ramps up work at Root project, Canada, following first assay results

Green Technology Metals (ASX:GT1) has hit spodumene pegmatites from surface in the first round of drilling at its Root project in Ontario, Canada.

themarketherald.com.au

Green Technology Metals (GT1) has hit spodumene pegmatites from surface in the first round of drilling at its Root project in Ontario, Canada.

The maiden drilling program began in September across the McCombe lithium-caesium-tantalum prospect.

 

[Dona Ferentes]

LG evidently on board.

 

[Dona Ferentes]

72c .. not really knocking it out of the park, probably because they know they'll be raising soon.

HIGHLIGHTS
▪ LG Energy Solution to invest A$20m in GT1 equity at A$0.92 per share, to become a substantial shareholder and represents a 43% premium to GT1’s 30 day VWAP
▪ Investment from a Tier-1 battery manufacturer at a premium subscription price validates GT1’s Seymour project and the company’s strategy to become Ontario’s first lithium producer
▪ Offtake Term Sheet provides that GT1 will sell 25% of Seymour Project offtake to LGES for 5 years, establishing a stable critical mineral supply chain in North America
▪ Funds to be used in advancing GT1’s Flagship Seymour Lithium Project.

Green Tech’s chief executive, Luke Cox, said the explorer stood out from a wide field of ASX lithium long shots as it had tenements in a tier-one jurisdiction, deep-pocketed partners, and industry expertise to deliver on its plans.

“We said to LG ‘let’s go on this journey together to create the vertical integration in North America’,” he said.

“What this also means is LG have a massive balance sheet, so when we look to go into lithium conversion they want to be part of it. They need to sell all these batteries, and they’ve got the order book, believe me. But they need the raw materials to sell these batteries, so that’s why we’ve joined forces to close the supply chain."

 

[Dona Ferentes]

nearly two years ... and how's it going of late?

$0.040 ... down 30 per cent

HIGHLIGHTS
▪ GT1 launches non-renounceable and partially underwritten (up to $3.0 million) pro-rata Entitlement Offer to raise up to approximately $4.0 million (before costs) at an issue price of $0.04 per Share
▪ Entitlement Offer underwritten to $3.0 million, supported by a number of sub-underwriters including the Board of Directors Cameron Henry, John Young and Patrick Murphy committing $450,000
▪ Existing long-term shareholders and institutional investors are also participating in sub- underwriting, reinforcing confidence in the Company’s strategy and long-term outlook
▪ Funds raised under the Entitlement Offer to be used towards:
o Project development activities at Seymour including the Definitive Feasibility Study, Permitting and ongoing Indigenous Consultation
o The Lithium Conversion Facility Pre-Feasibility Study
o General working capital and costs of the Entitlement Offer
▪ Canaccord Genuity (Australia) Limited and Bell Potter Securities Limited have been appointed as joint lead managers and underwriters to the Entitlement Offer