Chariot raises $2.15M to support its Nigerian lithium projects

The Market Herald

Mar 16

Chariot Resources (ASX:CC9) has come out of a trading halt on Monday morning to confirm it has received strong support for a capital raising to help fund its new Nigerian lithium project strategy. ...

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Non-executive director Brendan Borg also elected to subscribe for 500,000 shares and 250,000 CC9O options, Chariot confirmed.Proceeds from the placement will be used to fund the company’s acquisition of a 66.667% interest in a Nigerian hard rock lithium portfo","collect":0,"end_time":0,"defaultTopTitle":"themarketonline.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7507":"资源股","PLS.AU":"PLS Group Ltd","BK7095":"多种金属与采矿","CC9.AU":"CHARIOT CORP LTD","BK7504":"锂钴概念"},"translate_title":"Chariot筹集215万美元支持其尼日利亚锂项目","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CC9.AU":1,"PLS.AU":1.5},"content_text":"Chariot Resources (ASX:CC9) has come out of a trading halt on Monday morning to confirm it has received strong support for a capital raising to help fund its new Nigerian lithium project strategy.\nListen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.\nDisclaimer: This content has been prepared as part of a partnership with Chariot Resources Ltd and is intended for informational purposes only.\nThe company received firm commitments for a $2.15 million placement, which received backing from a group of institutional, sophisticated, and professional investors, including existing shareholders, long-term lithium investors and associates of GBA Capital. Non-executive director Brendan Borg also elected to subscribe for 500,000 shares and 250,000 CC9O options, Chariot confirmed.\nProceeds from the placement will be used to fund the company’s acquisition of a 66.667% interest in a Nigerian hard rock lithium portfolio from Continental Lithium. The additional capital will support exploration activities in Nigeria, as well as landholding and mineral claims maintenance costs.\n“Chariot would like to thank all shareholders and new investors for your continued support,” executive chairman and MD, Shanthar Pathmanathan, said.\nEarlier this month, Chariot reported that the Nigerian mining office had approved the transfer of four exploration licences (ELs) and two small-scale mining licenses (SSMLs) from Continental Lithium.\nThe six licenses include both exploration licenses at the Fonlo project and both exploration licenses at the Gbugbu project, covering an interest in the two projects as well as two small- scale mining licenses at the Saki project.\nMr Pathmanathan said the approvals were critical in satisfying a key condition precedent to Chariot acquiring the 66.667% interest in the Nigerian assets.\nThere are four further licenses awaiting transfer approval, including three exploration licenses at the Saki project and the sole exploration license at the Iganna project.\n“These are monumental and indeed the global lithium sector as they signify the first entry of an ASX-listed lithium company into the high-potential lithium sector in Nigeria, which hosts lithium pegmatites already producing spodumene for the Chinese market but remain almost entirely undrilled,” Mr Pathmanathan said.\n“Our ultimate goal is to make one or more large-scale discoveries in Nigeria. We will deploy modern, systematic exploration to generate high-quality technical data and drill-ready targets across an undrilled portfolio.\n“We are also negotiating with potential offtake and asset-level funding partners for funding to accelerate drilling and for the re-start and development of small-scale mining activities.”\nCC9 is steady at 11cps today.\nJoin the discussion: See what HotCopper users are saying about Chariot Resources Ltd and be part of the conversations that move the markets.\nThe material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}