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L1M - Lightning Minerals

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Lightning Minerals was formed in 2021 to carry out the acquisition and exploration of mineral assets in Western Australia; with a focus on lithium, nickel, gold, and base metals exploration.

The Company’s mineral assets comprise ten (10) granted exploration licences and three (3) exploration licence applications within four (4) project areas. Investors should note that these mineral assets are prospective in nature, and they do not currently have any mineral resources or reserves as defined under the JORC Code.

The Tenements can be classified as constituting 4 Projects being comprised of the following:
  • Dundas Project;
  • Mailman Hill Project;
  • Mount Jewell Project; and
  • Mt Bartle Project.
It is anticipated that L1M will list on the ASX during November 2022.

 

Dona Ferentes

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Listing date22 November 2022 ; 12:00 PM AEDT ##
Company contact detailshttps://lightningminerals.com.au/
Ph: +61 3 9600 0877
Principal ActivitiesMining exploration
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeL1M
Capital to be Raised$7,000,000
Expected offer close date31 October 2022
UnderwriterNot underwritten. PAC Partners Securities Pty Ltd (Lead Manager).
 

Dona Ferentes

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up and running; L1M listed at 23c on Tuesday and is settling at 21c, so no real stag there.

There is a Stockhead piece with the usual gush:

It’s unheard of to list one day and start exploration the next – but that’s what today’s fresh listee and critical minerals explorer Lighning Minerals (L1M) wants to do.

The company has four project areas in WA, but that standout are its Dundas licences in the hot new lithium province of Norseman, which it picked up from Fortescue, which holds about 3% in the company.

Dundas South actually surrounds Liontown (LTS) Buldania/Anna lithium project. It’s also just down the road from Alliance Minerals (A40) (?) Bald Hill lithium and tantalum project, Global Lithium (GL1) Manna project, Essential Metals (ESS) Pioneer Dome project, and Mineral Resources (MIN) Mt Marion project.


We’re going to start work on the day after listing. No companies do that,” MD Alex Biggs says.

You might recall Biggs from his days as MD and CEO at Critical Resources (CRR) when it acquired the Mavis Lake lithium project in Canada – and he says it’s that project which built his reputation for getting on with the job.
People know me from Critical, they know what I’m like, they know how aggressive I am in approaching our projects. “I don’t sit around. I don’t let our guys sit around. We’re out there, we’re doing the work, we’re generating exciting news.”

The company IPOed at $7m at $0.20 and Biggs said it had interest for $40m because the lithium thematic is really generating investor attention right now.
We’re in a highly prospective region, Dundas is red hot right now, it really is. “And if your neighbours are doing well, that reflects on you – but of course you still have to do the work too.

The plan is to hit the ground running tomorrow with soil sampling and geochem work, surface mapping, looking at outcrops and reviewing extensive historical data to delineate some drill targets.
“Probably towards the end of the first quarter next year, we’ll be looking at doing some drilling."

The focus will be on both critical minerals and lithium, as historically there were never multi-element essays completed on the projects.
“It was always just gold and nickel, and now we’ve seen the emergence of lithium there as a hot commodity – just look at the projects around us. “We see continuing lithologies and geologies into our leases, so our focus will be the critical minerals and the lithium thematic, and that Dundas region as a whole is certainly emerging as a lithium province."

- seems like he has gone from Critical to Uncritical !
 
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Dona Ferentes

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forgot about this one ... recent blurb (From somewhere) as follows

Lightning Minerals Ltd (ASX:L1M) marked its quest for valuable lithium resources in Western Australia with a maiden drill program of up to 2,500 metres of reverse circulation drilling and 10,000 metres of aircore drilling at the Dundas Project.

The primary targets have been outcropping pegmatites in the north and a 4-square-kilometre lithium and rubidium soil anomaly in the southeast of the tenement.

During the quarter, the company also conducted a soil sampling program at Dundas North and revealed additional lithium in soil anomalies of up to 147 parts per million within three target areas totalling about 35 square kilometres.

Also worth noting was a heritage agreement signed between Lightning Minerals and The Ngadju Native Aboriginal Title Corporation (NNTAC), which covers all of its Dundas tenements.

The company spent A$208,000 on exploration activities in the three months to June 30, mainly on the Dundas Project, and had cash and cash equivalents of A$4.69 million at the end of the period
.

Since listing
Screenshot_20230807-173352_CommSec.jpg
 
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