Marindi’s Managing Director, Mr Joe Treacy, said the new WA lithium projects provided the Company with a low-cost entry to a high quality exploration opportunity in a proven lithium district.
“The Company’s extensive knowledge of the Forrestania Greenstone Belt from previous field experience dating back to the 1980s has given us a significant head-start in terms of identifying and rapidly appraising these lithium exploration opportunities.
“The Forrestania district is a proven host to lithium-rich pegmatites, as evidenced by the recently commissioned Mt Cattlin spodumene project, but it has been largely ignored for strategic metals over the past three decades due to the focus on gold, nickel and iron ore.
“We see the lithium sector as sharing many of the characteristics of our other key commodity – zinc – in that it has outstanding market fundamentals and is currently experiencing a significant mismatch between supply and demand.
“We see an opportunity to create value for our shareholders by exploring in a proven lithium district with the potential for genuine discoveries close to existing infrastructure and, in the case of the Forrestania district, one of the State’s only operating strategic metals operations.
“We intend to initiate our exploration activities this quarter in the Forrestania region to give our shareholders the opportunity to leverage off this strategic acquisition while remaining focussed on our flagship Newman Base Metal Project. “
MZN Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
