Lithium Consolidated Mineral Exploration Limited (LCME) (ASX: LI3) was incorporated on 22 April 2016. Since incorporation LCME has established itself as a lithium minerals exploration company, by procuring core Lithium brine projects in Nevada (Nevada Projects), Australia and Botswana.
The LCME portfolio is focused on lithium brine and exploration in Nevada, USA. Lithium brine offers significantly higher prospects than alternative forms of lithium deposits. These assets are lithium brine and there is a clear path to market for the Nevada Projects.
LCME has assembled an experienced management, exploration and development team who are well qualified to exploit the potential of LCME’s mineral assets. The Board has significant expertise and experience in mineral exploration, project development and corporate finance and aims to ensure that funds raised through the Offer will be utilised to realise the Company’s strategic objectives. The LCME assets have been secured by a geoscientific technical team with a proven track-record of discovering globally significant mining assets.
On the completion of the Offer, LCME through its wholly owned US subsidiary LCME Holdings Inc) will have 80% ownership of the Nevada Projects, which comprises approximately 744 staked and filed claims and a further 1,237 staked claims in Nevada.
LCME through a wholly owned Australian subsidiary (West Resource Ventures Pty Ltd), has applied for 10 Exploration Licences in Western Australian, and a further 5 exploration permits in South Australia (Australian Tenements). LCME has through another subsidiary secured 6 prospecting licences and 2 applications pending for tenements in Botswana.
LCME is looking to raise up to $8 million with a further $1 million in oversubscriptions and will use the proceeds to:
Section 734(6) disclosure: The issuer of the securities is Lithium Consolidated Mineral Exploration Limited ACN 612 008 358. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).
The company reserves the right to close the offer early.
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