Heavily overbid $13.6 million placement to fast-track exploration activities at the Marble Bar Lithium Project (MBLP).
• As part of the placement, the lithium chemical arm of Contemporary Amperex Technology Co. Limited (CATL) (the world’s largest EV battery producer), Yibin Tianyi, to invest $6.2 million for a 9.9% interest in Global Lithium.
• Placement funds will be directed towards accelerating activities, including:
— Further lithium resource extension, targeting and regional exploration drilling;
— Initial exploration drilling along the southern extension of the greenstone belt, where historical drilling has identified lithium mineralisation 15km from the Archer deposit;
— Further exploration at the Company’s under-explored gold prospects, including the emerging Twin Veins project;
— Completion of the preliminary metallurgical test work program; and
— Potential consideration of additional complimentary growth options.
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