Overview
Because the demand for clear applied sciences grows, so too does the demand for high-tech rechargeable batteries to energy the inexperienced economic system. Nevertheless, the USA and the European Union’s present dependence on Japan, South Korea and China for 80 p.c of the world’s battery manufacturing is threatening their auto trade. As the biggest processor and producer of those battery supplies, China alone can considerably affect pricing and provide chain flows.
The US and the European Union are working to cut back dependence on these international locations and restructure provide chains. Each areas have recognized Canada as a safe and secure supply of sustainable uncooked supplies, resembling lithium, which is vital to the rising electrical automobile market. In consequence, mining firms with Canada-based initiatives that offer supplies wanted for high-tech rechargeable batteries resembling lithium could also be an attention-grabbing alternative for buyers to think about.
Worldwide Lithium (TSXV:ILC,OTC:ILHMF,FRA:IAH,OTCQB:ILHMF) is a mineral exploration firm targeted on creating a portfolio of lithium and uncommon metals initiatives and royalties in Canada and Eire. The corporate is led by an skilled administration staff with a confirmed monitor report of advancing potential initiatives with low technical threat in established mining jurisdictions.
Worldwide Lithium delivers shareholder worth by way of mission improvement, strategic partnerships and mission gross sales. The corporate’s initiatives embrace the Raleigh Lake and Avalonia initiatives.
The corporate’s flagship Raleigh Lake mission is an entirely owned and extremely potential lithium, rubidium and caesium mission in Ontario. Raleigh Lake spans 48,500 hectares adjoining to the Trans-Canada freeway and CPR railway, simply outdoors the city of Ignace, and options promising drill outcomes. Drilling recognized stacked tabular dyke-like our bodies that lightly dip from floor, masking an space of 600 meters alongside strike by 400 meters downdip with every dyke having grades akin to the three.78-meter interval grading 1.72 p.c lithium oxide and a couple of,829 components per million (ppm) rubidium in drill gap RL21-03. Prospecting on newly acquired claims found 20 new pegmatites at floor degree over a number of kilometers.
A optimistic preliminary financial evaluation for Raleigh Lake, launched in December 2023, reveals an annual after-tax money move of C$634 million, NPV of C$342.9 million, IRR of 44.3 p.c.
Worldwide Lithium’s Avalonia mission is a three way partnership lithium mission situated in Leinster, Eire, spanning 29,200 hectares masking a 50-kilometer belt. Drilling on the Avalonia mission returned 2.23 p.c lithium oxide over 23.3 meters together with 3.43 p.c lithium oxide over 6 meters and 1.50 p.c lithium oxide over 5.6 meters. The Avalonia mission is presently beneath an choice settlement. Worldwide Lithium presently owns 45 p.c.
“Worldwide Lithium. is now in by far the strongest monetary place that it has been since its itemizing in 2011, and we stay up for constructing efficiently on that each at our lithium and rubidium mission at Raleigh Lake in Ontario and on our different current and future initiatives,” stated chairman and CEO John Wisbey.
In October 2021, the corporate offered its share within the Mavis Lake three way partnership lithium and caesium mission in Ontario to Essential Sources (ASX:CRR) with proceeds totaling C$1.48 million and a doable additional C$1.38 million linked to useful resource discovery milestones.
The corporate additionally offered its remaining curiosity within the Mariana mission in Argentina for US$13.17 million, which has positioned Worldwide Lithium in a robust monetary place to additional improve its liquidity. In 2021 alone, the corporate raised C$4.9 million in fairness financing.
Worldwide Lithium is presently targeted on creating its flagship Raleigh mission, however the firm additionally continues to establish extra properties to develop its portfolio. In February 2024, Worldwide Lithium entered into an settlement to amass 90 p.c curiosity within the Firesteel mission, a extremely potential grassroots copper and cobalt property in Northwestern Ontario, signaling an enlargement of the corporate’s vital minerals portfolio. The corporate completed the acquisition of the Firesteel property in Might 2024 and has filed purposes for permits to conduct the primary drilling program at Firesteel concentrating on copper mineralization and check as much as six distinct targets with as much as 2,000 metres of core drilling.
Firm Highlights
- Worldwide Lithium is creating a portfolio of lithium and uncommon metals initiatives and royalties in Canada and Eire, aiming to ship shareholder worth by way of mission improvement, strategic partnerships and mission gross sales.
- The corporate’s flagship Raleigh Lake mission is an entirely owned and extremely potential lithium, rubidium and caesium mission in Ontario, Canada.
- The corporate produced its maiden useful resource estimate for lithium and rubidium and has launched a optimistic preliminary financial evaluation for Raleigh Lake.
- Worldwide Lithium has signed an settlement to buy 90 p.c curiosity within the Firesteel mission, a extremely potential grassroots copper and cobalt property in Northwestern Ontario.
- The corporate’s 29,200-hectare Avalonia mission is a three way partnership lithium mission situated in a big belt in Leinster, Eire. Drilling on the mission returned 2.23 p.c lithium oxide over 23.3 meters together with 3.43 p.c lithium oxide over 6.0 meters and 1.50 p.c lithium oxide over 5.60 meters.
- Alongside Canada and Eire, Worldwide Lithium has recognized Zimbabwe as a strategic jurisdiction within the firm’s international lithium technique.
- Worldwide Lithium is led by an skilled administration staff with a confirmed monitor report of advancing potential initiatives with low technical threat in established mining jurisdictions.
Key Initiatives
Raleigh Lake
The flagship Raleigh Lake mission is a completely owned lithium, rubidium and caesium mission situated instantly west of Ignace in Ontario, Canada. The Raleigh Lake mission spans 48,500 hectares and is accessible by way of the Trans-Canada Freeway. The mission additionally options entry to the Canadian Pacific railway, pure fuel pipelines and a hydropower line that crosses by way of the property.
Drilling on the property started in April 2021 and returned promising grades of lithium, sizable quantities of rubidium and small quantities of caesium. Drilling recognized mineralization hosted in a minimum of 4 essential pegmatites and extra noticed in outcrops. Drill outcomes embrace 2.80 of lithium oxide over 9.0 meters in addition to 1.05 meters grading 2.69 p.c lithium oxide from 31.04 meters and 1.18 meters grading 4210 ppm rubidium from 29.86 meters inside a 3.78-meter interval grading 1.72 p.c lithium oxide and 2829 ppm rubidium.
In 2021, Worldwide Lithium targeted on evaluating the regional potential for extra lithium-bearing pegmatites in and across the Raleigh Lake space and, consequently, has expanded the mission from 3,000 hectares to greater than 47,700 hectares, primarily based on evaluation of regional geophysical and geological knowledge.
Part 3 of the diamond drilling program, which started in September 2022 at Zone 1 of the Raleigh Lake Lithium mission intersected spodumene-bearing pegmatite, demonstrating large continuity of the mineralized physique.
Part 3 drill highlights
- All Part 3 holes testing Pegmatite 1 in Zone 1 intersected spodumene-bearing pegmatite, demonstrating large continuity of the mineralized physique
- Thicker and higher-grade mineralization intersected nearer to the floor as anticipated.
- Part 1, 2 and three pierce factors have intersected Pegmatite 1 alongside a strike size of over 800 meters and alongside its dip for over 400 meters.
Pegmatite 1 Spodumene Zone Intersection Highlights*
- RL22-45: 4.85 meters grading 2.06 p.c lithium oxide in decrease spodumene zone (from 89.5 meters);
- RL22-48: 15.82 meters grading 2.25 p.c lithium oxide (from 65.56 meters);
- RL22-49: 2.21 meters grading 2.47 p.c lithium oxide (from 72.69 meters);
- RL22-50: 4.62 meters grading 2.29 p.c lithium oxide (from 56.12 meters);
- RL22-56: 2.96 meters grading 2.13 p.c lithium oxide (from 72.42 meters);
Pegmatite 1 Rubidium-bearing Microcline Intersection Highlights*
- RL22-45: 3.98 meters grading 1.21 p.c rubidium oxide from 85.52 meters;
- RL22-57: 4.69 meters grading 0.60 p.c rubidium oxide from 152.51 meters.
Maiden Mineral Useful resource Estimate
Worldwide Lithium launched its lithium and rubidium mineral useful resource estimates (MRE), that are carefully associated as a consequence of their spatial relationships, however their respective useful resource estimates are thought of separate and distinctive.
Lithium MRE
This can be a abstract of the lithium MRE for lithium-caesium-tantalum (LCT) pegmatites of the Raleigh Lake pegmatite area. The open pit and underground MREs are constrained by way of optimized pit shell and minable form wireframes, respectively.
Rubidium MRE
An impartial MRE has been calculated for the rubidium contained inside microcline zones of the LCT pegmatites. Rubidium additionally happens all through the LCT pegmatites inside the lithium-bearing spodumene at a decrease cutoff however shouldn’t be included on this rubidium MRE. Rubidium reaching grades higher than 4,000 ppm is attributed to pockets of excessive modal abundance of microcline (potassic feldspar). The open pit and underground MREs are constrained by way of optimized pit shell and minable form wireframes, respectively.
Rubidium Open Pit and Underground MRE
In December 2023, Worldwide Lithium launched its optimistic preliminary financial evaluation (PEA) for a proposed lithium mining operation to provide spodumene focus at Raleigh Lake. The PEA has demonstrated a extremely beneficial financial situation primarily based on the manufacturing of a spodumene focus containing 6 p.c lithium oxide. Undertaking economics present an after-tax money move of C$634 million, NPV of C$342.9 million and IRR of 44.3 p.c each year, with a nine-year mine life and mission period of 11 years.
Avalonia
Spodumene in boulder at Avalonia
The Avalonia mission is a three way partnership lithium mission situated in Leinster, Eire. The property spans 29,200 hectares masking a 50-kilometer belt with round 29 vital lithium pegmatite occurrences. Drilling on the Avalonia mission returned 2.23 p.c lithium oxide over 23.3 meters together with 3.43 p.c lithium oxide over 6.0 meters and 1.50 p.c lithium oxide over 5.60 meters. Nevertheless, some drill outcomes on the property are nonetheless pending.
Worldwide Lithium presently owns 45 p.c of the mission whereas Ganfeng Lithium owns 55 p.c. Ganfeng Lithium has the choice to amass 79 p.c of the mission by spending C$10 million for exploration actions by September 2024 or by producing a optimistic feasibility examine. If the choice is exercised, Worldwide Lithium will retain 21 p.c of the Avalonia mission which can scale back additional if the corporate doesn’t contribute to the mission. Nevertheless, if the corporate’s possession turns into lower than 10 p.c then its share will convert to a 1 p.c NSR.
Firesteel Copper Undertaking
The 6,600-hectare Firesteel property consists of 17 mining claims, making up 316 mining declare models in Northwestern Ontario. The property is adjoining to Freeway 17, lower than 10 kilometers west of Upsala, Ontario stretching westward to the Firesteel River for about 16 kilometers.
Firesteel is situated inside the central Wabigoon Sub-province on the jap restrict of the Lumby Lake Greenstone Belt, which accommodates large mafic flows or gabbro interspersed with skinny felsic meta volcanic and uncommon pillowed mafic models. Historic assay outcomes from samples taken at places roughly 1.6 kilometers northeast and a couple of.8 kilometers southwest of the Roadside 1 Copper Zone returned values of as much as 2.6 p.c copper, 3.327 ppm gold and a couple of.6 p.c copper, 4.294 ppm gold, respectively (Bumbu 1995).
Administration Group
John Wisbey – Chairman and CEO
John Wisbey joined the board of ILC in 2017. After a couple of months, he turned deputy chairman after which he turned chairman and CEO in March 2018. He has personally invested vital funds in ILC since becoming a member of the board and is now ILC’s largest shareholder. He has had a profession as a expertise entrepreneur and can be a former banker. Extra not too long ago, Wisbey was a inexperienced vitality entrepreneur. He based two London AIM-listed firms –– IDOX plc which supplies software program for the UK native authorities and Lombard Danger Administration plc which focuses on software program for financial institution threat administration and regulation. He additionally established CONVENDIA Ltd. which is a personal firm that focuses on software program for money move forecasting, mission valuation and M&A monetary evaluation. Wisbey holds varied non-executive director roles within the UK and Switzerland. He was previously a banker at Kleinwort Benson. At Kleinwort Benson, he held varied roles, together with a director within the derivatives group, head of choices and company lending. Wisbey has acted as a public firm chairman, CEO, or director for twenty years. He’s a graduate of Cambridge College.
Maurice Brooks – Director and CFO
Maurice Brooks joined the board of ILC in 2017. He’s a licensed senior statutory auditor within the UK. Since 2000, he has been a senior companion at Johnson Smith & Co. in Staines, Surrey. Earlier than that, Brooks was a senior companion in Johnsons Chartered Accountants within the London Borough of Ealing. His industrial and funding expertise consists of government directorships in manufacturing and an funding accountant position to the superannuation fund of the Western Australian state authorities. His early skilled employment consists of Ball Baker Leake LLP and LLC and Value Waterhouse Coopers-UK.
Anthony Kovacs – Director and COO
Anthony Kovacs joined the board of ILC in 2018 and has labored with the corporate since 2012. He has over 25 years of expertise in mineral exploration and improvement. Earlier than becoming a member of ILC, he held senior administration roles through which he sourced and superior iron ore and industrial minerals initiatives. Kovacs was concerned in early-stage work on the Lac Otelnuk Iron Ore mission in Quebec, Canada and the Mustavaara Vanadium Mine in Finland. Earlier than that, Kovacs labored for Anglo American the place he targeted on Ni-Cu-PGE and IOCG initiatives. At Anglo-American, Kovacs was straight concerned in a number of discoveries internationally. Kovacs has vital expertise with industrial minerals, ferrous metals, non-ferrous metals and treasured metals initiatives all through the Americas, Europe and Africa.
Ross Thompson – Non-executive Director
Ross Thompson joined the board of ILC in 2017 and is the chair of the audit and remuneration committees. He’s a speaker and skilled in advertising behavioral science. In 1995, he based Giftpoint Ltd. which is now one of many largest specialist promotional merchandise companies within the UK. with workplaces in London and Shanghai. Giftpoint Ltd.’s shoppers embrace L’Oreal, Oracle, Ocado and Pernod Ricard amongst others. Thompson was president of IGC International Promotions, one of many world’s oldest and largest international networks of premium resellers, for seven years. He’s an energetic investor with a particular curiosity and understanding of pure sources companies.
Geoffrey Baker, Non-executive Director
Geoff Baker joined the board of ILC on the finish of 2022, and is a member of the audit committee. He has a distinguished profession within the pure useful resource and finance industries. He’s a director of Tim Buying and selling, an organization providing consultancy companies within the oil and fuel trade. Throughout his tenure as supervisor of Insch Black Gold Funds, Baker obtained the Buyers Selection Swiss Fund Supervisor of the 12 months Award. He’s a co-founder of a digital collectible non fungible token CryptoChronic and of Cannastore, a pilot e-commerce web site. Baker holds a bachelor’s diploma from the College of Windsor in Ontario.
