Anuncio • Mar 28
Leo Lithium Limited, Annual General Meeting, May 28, 2025 Leo Lithium Limited, Annual General Meeting, May 28, 2025. Anuncio • Nov 28
GFL International Co., Ltd. completed the acquisition of remaining 40% stake in in Goulamina Lithium Project from Leo Lithium Limited (ASX:LLL) for $332.2 million. GFL International Co., Ltd. executed Binding Sale and Purchase Agreement to acquire remaining 40% stake in Goulamina Lithium Project from Leo Lithium Limited (ASX:LLL) for $342.7 million on May 6, 2024. The $342.7 million cash consideration payable by Ganfeng is structured as $10.5 million non-refundable deposit to be paid within 10 days of executing the sale and purchase agreement; $161.0 million payable on completion of the transaction following satisfaction of (or waiver) of conditions precedent (Tranche 1 Cash Consideration); $171.2 million payable on June 30, 2025 or an earlier date (Tranche 2 Cash Consideration). Interest of SOFR + 2% to accrue on the unpaid Tranche 2 Cash Consideration from the completion date until the Tranche 2 Cash Consideration is paid in full to Leo Lithium. There are no penalties for early repayment. Prior to the transaction, GFL International Co., Ltd. held 60%. Ganfeng to sole fund all remaining capital until first revenue. Ganfeng Lithium Group Co., Ltd's Board of Directors have approved the transaction, to use its own funds to acquire the remaining 40% equity in Mali Lithium B.V. from Leo Lithium Limited for $342.7 million. This transaction does not need to be submitted for approval by the company's shareholders' meeting. The transaction is subject to Leo Lithium's shareholders to vote on the transaction, receipt of regulatory approvals and satisfaction of conditions precedent to the transaction. Completion of the transaction is End October 2024. On June 14, 2024 The Mines Minister has conditionally approved the transaction, requiring the submission of transaction documents and payment of capital gains tax (CGT). Leo has already paid $7.6-million for CGT on a 5% sale finalized on May 6. Any additional CGT on the 40% sale will be paid in due course. As of July 25, 2024, Leo Lithium Limited updates on the pending approval by the Company's shareholders at the Annual General Meeting to be held on July 31, 2024 is a condition precedent to the Proposed Transaction. The Board of Leo Lithium continues to recommend shareholders VOTE IN FAVOUR of the Proposed Transaction. Following discussions with many shareholders, the Board has committed to increasing the amounts returned to shareholders. As of September 13, 2024, Chinese government approval remains the only outstanding condition precedent to the completion of the Proposed Sale. Currently anticipated to be completed in October 2024, following which the Proposed Sale will complete.
Barrenjoey acted as financial adviser and Thomson Geer acted as legal adviser in relation to the sale of Leo Lithium’s interest in the Project to Ganfeng.
GFL International Co., Ltd. completed the acquisition of remaining 40% stake in in Goulamina Lithium Project from Leo Lithium Limited (ASX:LLL) for $332.2 million on November 26, 2024. At Completion Leo Lithium is entitled to receive the Tranche 1 consideration of $161 million. The total amount of Mali capital gains tax payable on the sale is $44.7 million which will be deducted from the Tranche 1 consideration and paid directly to the Mali Government by Ganfeng. This amount of taxation is in line with the previous estimates detailed by Leo Lithium to the market. The Company anticipates receiving the net Tranche 1 payment of $116.3 million on 26 November 2024. A Tranche 2 payment of $171.2 million is payable by 30 June 2025 Interest will accrue on the unpaid Tranche 2 Consideration from Completion until the payment date at a rate of Secured Overnight Finance Rate +2%.All required Chinese Government approvals have now been received and, as a consequence, all conditions precedent to the MLBV Sale have been satisfied. Anuncio • Nov 27
GFL International Co., Ltd. acquired remaining 40% stake in Mali Lithium BV from Leo Lithium Limited (ASX:LLL). GFL International Co., Ltd. agreed to acquire remaining 40% stake in Mali Lithium BV from Leo Lithium Limited (ASX:LLL) on November 25, 2024. At Completion Leo Lithium is entitled to receive the Tranche 1 consideration of $161 million. The total amount of Mali capital gains tax payable on the sale is $44.7 million which will be deducted from the Tranche 1 consideration and paid directly to the Mali Government by Ganfeng. This amount of taxation is in line with the previous estimates detailed by Leo Lithium to the market. The Company anticipates receiving the net Tranche 1 payment of $116.3 million on 26 November 2024. A Tranche 2 payment of $171.2 million is payable by 30 June 2025 Interest will accrue on the unpaid Tranche 2 Consideration from Completion until the payment date at a rate of Secured Overnight Finance Rate +2%.
All required Chinese Government approvals have now been received and, as a consequence, all conditions precedent to the MLBV Sale have been satisfied. Completion of the MLBV Sale is scheduled to occur on 26 November 2024.
GFL International Co., Ltd. completed the acquisition of remaining 40% stake in Mali Lithium BV from Leo Lithium Limited (ASX:LLL) on November 26, 2024. Anuncio • Jun 15
Leo Lithium Limited, Annual General Meeting, Jul 31, 2024 Leo Lithium Limited, Annual General Meeting, Jul 31, 2024. Anuncio • May 09
GFL International Co., Ltd. Executed Binding Sale and Purchase Agreement to acquire remaining 40% stake in Goulamina Lithium Project from Leo Lithium Limited (ASX:LLL) for $342.7 million. GFL International Co., Ltd. Executed Binding Sale and Purchase Agreement to acquire remaining 40% stake in Goulamina Lithium Project from Leo Lithium Limited (ASX:LLL) for $342.7 million on May 8, 2024. The $342.7 million cash consideration payable by Ganfeng is structured as $10.5 million non-refundable deposit to be paid within 10 days of executing the sale and purchase agreement; $161.0 million payable on completion of the transaction following satisfaction of (or waiver) of conditions precedent (Tranche 1 Cash Consideration); $171.2 million payable on June 30, 2025 or an earlier date (Tranche 2 Cash Consideration). Interest of SOFR + 2% to accrue on the unpaid Tranche 2 Cash Consideration from the completion date until the Tranche 2 Cash Consideration is paid in full to Leo Lithium. There are no penalties for early repayment. Prior to the transaction, GFL International Co., Ltd. held 60%. Ganfeng to sole fund all remaining capital until first revenue. The transaction is subject to Leo Lithium's shareholders to vote on the transaction, receipt of regulatory approvals and satisfaction of conditions precedent to the transaction. Completion of the transaction is End October 2024. Barrenjoey acted as financial adviser and Thomson Geer acted as legal adviser in relation to the sale of Leo Lithium’s interest in the Project to Ganfeng. Anuncio • Jan 18
Ganfeng Lithium's Unit to Buy Up to 5% Stake in Mali Lithium Ganfeng Lithium Group Co., Ltd. (SZSE:002460) said unit plans to buy up to 5% stake in Mali Lithium from Leo Lithium Limited (ASX:LLL) for up to $65 million. Anuncio • Oct 30
Leo Lithium Limited Announces Resignation of Leo Lithium as Joint Company Secretary Leo Lithium Limited announced that Mr. Nathan Bartrop has resigned as Joint Company Secretary of the company. Mr. Bartrop will continue to assist the Company in relation to various company secretarial and corporate governance projects. Mr. Ron Chamberlain will remain as Company Secretary of the Company. Buying Opportunity • Sep 07
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 36%. The fair value is estimated to be AU$0.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 71% per annum. Earnings is also forecast to grow by 32% per annum over the same time period. Major Estimate Revision • Sep 05
Consensus revenue estimates fall by 67% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from AU$4.12m to AU$1.37m. Forecast losses increased from -AU$0.0055 to -AU$0.008 per share. Metals and Mining industry in Australia expected to see average net income growth of 11% next year. Consensus price target down from AU$1.72 to AU$1.53. Share price fell 47% to AU$0.60 over the past week. Price Target Changed • Sep 04
Price target decreased by 11% to AU$1.53 Down from AU$1.71, the current price target is an average from 6 analysts. New target price is 172% above last closing price of AU$0.56. The company is forecast to post a net loss per share of AU$0.0055 compared to earnings per share of AU$0.064 last year. Board Change • Sep 04
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Brendan Borg is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Major Estimate Revision • Jul 29
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -AU$0.0059 to -AU$0.0066 per share. Revenue forecast of AU$4.16m unchanged since last update. Metals and Mining industry in Australia expected to see average net income decline 2.0% next year. Consensus price target of AU$1.71 unchanged from last update. Share price was steady at AU$1.14 over the past week. Major Estimate Revision • Jul 15
Consensus revenue estimates increase by 144% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from AU$1.71m to AU$4.16m. Forecast losses expected to reduce from -AU$0.0067 to -AU$0.0059 per share. Metals and Mining industry in Australia expected to see average net income growth of 2.2% next year. Consensus price target of AU$1.72 unchanged from last update. Share price rose 5.3% to AU$1.19 over the past week. Major Estimate Revision • Jul 07
Consensus revenue estimates increase by 151% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from AU$1.66m to AU$4.17m. EPS estimate unchanged from -AU$0.0059 at last update. Metals and Mining industry in Australia expected to see average net income growth of 2.2% next year. Consensus price target of AU$1.79 unchanged from last update. Share price rose 5.1% to AU$1.13 over the past week. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AU$1.16, the stock trades at a trailing P/E ratio of 21x. Average forward P/E is 10x in the Metals and Mining industry in Australia. Total returns to shareholders of 139% over the past year. Major Estimate Revision • Jul 01
Consensus EPS estimates upgraded to AU$0.0035 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -AU$0.0042 to -AU$0.0035 per share. Revenue forecast unchanged from AU$1.66m at last update. Metals and Mining industry in Australia expected to see average net income growth of 2.2% next year. Consensus price target of AU$1.79 unchanged from last update. Share price fell 6.1% to AU$1.07 over the past week. New Risk • Jun 29
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: AU$2.2m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Jun 29
Independent Non-Executive Director recently sold AU$2.2m worth of stock On the 28th of June, Brendan Borg sold around 2m shares on-market at roughly AU$1.07 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$2.6m more than they bought in the last 12 months. Major Estimate Revision • Jun 21
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from AU$1.85m to AU$1.66m. EPS estimate unchanged from -AU$0.0042 per share at last update. Metals and Mining industry in Australia expected to see average net income decline 0.2% next year. Consensus price target up from AU$1.71 to AU$1.78. Share price rose 16% to AU$1.12 over the past week. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AU$1.05, the stock trades at a trailing P/E ratio of 18.9x. Average forward P/E is 10x in the Metals and Mining industry in Australia. Simply Wall St's valuation model estimates the intrinsic value at AU$0.80 per share. Major Estimate Revision • May 31
Consensus EPS estimates upgraded to AU$0.0027 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -AU$0.0034 to -AU$0.0027 per share. Revenue forecast unchanged from AU$2.46m at last update. Metals and Mining industry in Australia expected to see average net income growth of 2.2% next year. Consensus price target up from AU$1.53 to AU$1.71. Share price rose 12% to AU$0.89 over the past week. Anuncio • May 29
Leo Lithium Limited announced that it expects to receive AUD 106.11 million in funding from Gfl International Co.,Limitied Leo Lithium Limited announced that it has entered into a subscription agreement to issue 131 million new fully paid ordinary shares at a price of AUD 0.81 per share for the gross proceeds of AUD 106.11 million on May 19, 2023. The transaction will include participation from new investor Gfl International Co.,Limitied for 9.9% stake. The shares are restricted. The transaction is subject to granting of regulatory approvals. Recent Insider Transactions • Apr 01
Non-Executive Director recently bought AU$51k worth of stock On the 30th of March, Alan Rule bought around 100k shares on-market at roughly AU$0.50 per share. This transaction amounted to 95% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$268k more in shares than they bought in the last 12 months. Anuncio • Feb 17
Leo Lithium Limited Announces Key Construction Milestones At the Goulamina Lithium Project in Mali Leo Lithium Limited announced key construction milestones at the Goulamina Lithium Project (Goulamina or the Project) in Mali. Goulamina is a Joint Venture between Leo Lithium (50%) and Ganfeng Lithium Group (50%) (Goulamina JV). The Goulamina JV has successfully poured first concrete in the primary crushing area of the Project, with the ball mill area foundations also ready for concreting in the coming days. In conjunction, manufacturing of the ball mill and other crucial crushing equipment, such as the cone crusher and jaw crusher, has been successfully completed and is undergoing final factory inspection tests before the equipment is readied for transport to site. Final trim earthworks in the plant area are underway and this enables concrete preparation and installation to proceed, while significant mobile equipment resources are applied to continue work on the TSF, in line with the plan. With supply items such as structural steel and permanent accommodation units now ready to be transported to site, later this half, Leo Lithium will be focused on the installation of the ball mill, the cone and jaw crushers, as well as the supply and installation of plant and electrical services. Design works of the overland water piping package from Sélingué Dam (which will provide site process water) continues to progress, with installation works set to commence later this quarter. Board Change • Jan 24
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Brendan Borg is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Anuncio • Jan 17
Leo Lithium Limited Announces Goulamina Resource Increased by 33.8 Mt to 142.3 Mt Leo Lithium Limited announce a substantial upgrade to the Mineral Resource estimate (MRE) of its Goulamina Lithium Project (Goulamina or the Project). A resource definition drilling campaign was undertaken in H2 2022 on pegmatite dykes in the south-west of the Goulamina Lithium Project, part of the Danaya Domain (Danaya). The recently completed assessment of drilling results and the updated MRE for Danaya has increased the Danaya MRE by 152%, from 22.3 Mt to 56.1 Mt and the total Goulamina resource base by 31% from 108.5 Mt at 1.45 % Li2O to 142.3 Mt @ 1.38% Li2O. Goulamina Lithium Project Mineral Resources: The updated Mineral Resource for the Danaya Domain incorporates all historical data and recent drilling data completed by Leo Lithium between May and October 2022. The Danaya Domain is the only domain updated in this MRE. There are no changes to the NE Domains; Main, West 1, West 2, Sangar 1 and Sangar 2. Danaya: During the 2022 resource definition drilling campaign, Leo Lithium drilled 60 reverse circulation (RC) holes (including 6 Pre-Collar RC holes) for a total of 9,292 m and 17 Diamond (DD) holes (including 6 diamond tails) for a total of 3,428 m. Significant intersections have been reported in ASX announcements dated: 3 November 2022 (Resource Drilling Reveals Thick, High Grade Spodumene Intercepts); 14 December 2022 (Further High-Grade Drilling Results at Danaya). Since the last published MRE on 20 July 2020, the Danaya Mineral Resource has increased by 152% to 56.1 Mt @ 1.24% Li2O. The Indicated resource classification at Danaya increased by 213% to 24.4 Mt @ 1.34% Li2O. Danaya diamond core assay results are still pending and are therefore not included in this MRE, although diamond core geological and structural information was used to assist in defining the pegmatite solids. Assay results will be reported once received and reviewed. Future drilling will focus on further resource extensions below and along strike of the optimised RPEEE pit shell as well as increasing the confidence level by converting Inferred to Indicated material within the pit shell. At Danaya, infill drilling and resource extension drilling has resulted in a re-interpretation of the Danaya geology. The structural and geological information from the drilling campaign has been used to update the geological model which builds the framework for this resource update. The Danaya Domain consists of a Spodumene Pegmatite dyke swarm, which is striking North- Northwest and is moderately to steeply dipping to the East. The dykes are currently modelled to a strike length of 1700m with individual true dyke widths of up to 70 m. The pegmatites are characterised by typical pinching and swelling. Weathered oxidised material in the Danaya domain is excluded from the resource. Only material below the TOFR surface is reported as part of the MRE. Mineral Tenement: The Goulamina Project is entirely within the Torakoro Exploitation Permit PE 19/25 in Mali, PE 19/25 is 100% held by Lithium du Mali a 50-50 joint venture between Leo Lithium and Ganfeng Lithium. Geology: The Project area is located within the Bougouni region of Southern Mali, where broadly North- South trending belts of Birimian aged (Paleoproterozoic) meta-volcanic and meta-sedimentary rocks are intruded by syn-and post-orogenic granitoids. Within the Project area, outcrop is limited, and the understanding of basement geology therefore comes mainly from drillholes. Regolith typically comprises a surficial transported horizon overlying a laterite weathering profile. A prominent feature of the Lateritic Profile is a plateau of a hard iron-rich ferricrete (‘cuirasse’). Limited outcrop mapping and information from geological logging of exploration drillholes indicates Northeast striking metapelite and metagreywacke rocks in the North and Eastern parts of the property. The Goulamina Pegmatite deposit is entirely hosted within a granodiorite. The most abundant dyke facies within the Danaya Domain consists of a relatively homogenous coarse spodumene pegmatite which makes up approximately 85% of the Danaya dyke swarm. Crystal sizes range from few centimetres to up to 10 cm. The remaining 15% of the Danaya dyke swarm is composed of a fine-grained aplite which is often mineralised but can also be barren. Aplite distribution within the Danaya Domain is not predictable and therefore not domained separately. The Lithium-bearing pyroxene mineral spodumene is the only recognised lithium mineral, along with other major minerals of quartz and feldspar (albite and microcline). Geological logging also identified accessory amounts of muscovite, tourmaline, apatite and biotite. Drilling Techniques and Hole Spacing: Danaya holes were drilled in several contiguous phases, from October 2017 to December 2022. Drill holes were generally dipping -60 degrees, oriented due west, to intercept the steeply dipping pegmatite dykes at a high angle. RC drilling was completed by AMCO Drilling SARL (AMCO), and Capital Drilling (MALI) SARL (Capital), using nominally 5.5-inch diameter equipment, with a face sampling downhole hammer. Core drilling equipment at Danaya was supplied and operated by AMCO and Capital. Drillhole diameter ranges from PQ size within highly weathered and oxidized zone and standard HQ size diameter within fresh rock. Diamond holes were drilled from surface or as diamond tails on RC holes. Core was orientated down hole so that structural measurements could be taken. Diamond Core drilled by Capital drilling in the 2022 campaign was not assayed in time to be included in the Danaya MRE, although the geological and structural information was used to define the pegmatite solids. Drill holes for the resource programs are spaced approximately 30 to 50 metres apart on 25 m, 50 m or 100 m spaced sections. The spacing is sufficient to establish grade and geological continuity and is appropriate for the resource classifications applied. Sampling Techniques Samples were collected from RC drilling and submitted for assay. Samples submitted to the laboratory typically weighed 2-2.5 kg over an average 1 m interval. Samples were subsampled by a riffle splitter at the drill rig. Diamond drill core was collected directly into core trays. The drill core was then transported to the core processing facility where the core was marked up by metre marks and bottom orientation line. Core was cut longitudinally along a cut line next to the core orientation line. Half core without orientation line was collected on a metre basis where possible, sample lengths at contacts varied in length. Pegmatites along with at least two metres of granitic material either side of the pegmatite contact are sampled and prepared for assay. Granitic material distal to the pegmatites is not sampled and is treated as having an assay of 0 % Li2O. Board Change • Dec 31
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Brendan Borg is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Anuncio • Dec 30
Leo Lithium Limited Appoints Alan Rule as Non-Executive Director, Effective 1 January 2023 Leo Lithium Limited announced the appointment of experienced mining executive, Mr. Alan Rule as Non-Executive Director, effective 1 January 2023. Mr. Rule has more than 25 years' experience as the CFO of ASX listed mining companies with operations and projects in Australia, Africa, North and South America across several commodities, including lithium. He has considerable experience in international debt and equity financing of mining projects, implementation of accounting controls and systems, risk management, governance, and regulatory requirements in mining companies. In addition, he has wide ranging experience in mergers and acquisitions within the mining industry. Mr. Rule was CFO at Galaxy Resources Limited from 2017 until it was taken over in 2021. His previous positions included CFO of Sundance Resources Limited, Paladin Energy Limited, Mount Gibson Limited and St Barbara Mines Limited. He is a Chartered Accountant (Fellow) and holds Bachelor of Commerce and Bachelor of Accounting degrees. He has also been a Non-Executive Director of listed companies since 2016 and is currently a Non- Executive Director of Yellow Cake plc, an AIM listed company and Ora Banda Mining Limited, an ASX listed gold company. Pursuant to the Company's constitution, Mr. Rule will hold office as a Director until the next annual general meeting, where he will be required to seek election. Anuncio • Dec 15
Leo Lithium Limited Provides Further Results from the Goulamina Lithium Project Leo Lithium Limited provided further results from the Goulamina Lithium Project (Goulamina or the Project) resource drilling program, following completion of planned drilling at the Danaya Domain (Danaya). The 2022 Resource Drilling Program at Danaya has the main objective of increasing the confidence level in this part of the orebody and converting a significant amount of Inferred Resource into the Indicated Resource category. Additional objectives are increasing the overall resource base at Danaya and maintaining the current 23-year mine life at higher production rates. The Danaya drilling program is now complete and as of 10 December, 99% of RC assay results have been received (3112 assays from a total of 3152 samples). Diamond core has been geologically logged and information is being used in the updated Danaya geological model. The previously announced2 Danaya resource drilling program is targeted to maintain the current 23-year mine life at higher production rates. The planned drilling program included 65 holes (54 reverse circulation (RC) and 11 diamond (DD) holes, targeted at converting the Inferred Mineral Resources at Danaya to Indicated Mineral Resources. A second objective is to extend drilling at depth, targeting continuation of open mineralisation from previous drilling. Drilling at Danaya commenced in March 2022 and the current program is now complete. Fifty-five reverse circulation (RC) holes (8,989 metres) and 11 Diamond holes (2,239 metres) as well as 6 RC holes with diamond tails (1,189 metres) have been completed at Danaya. The drilling program has infilled previous drilling to a nominal section spacing of 50 metres (previous nominal spacing was in the range of 100 metres in parts). As previously reported, drilling has successfully identified multiple north-south striking spodumene pegmatite dykes at Danaya. New section through 1254150m N that includes three of the drill holes reported here. Mineralisation at Danaya is open at depth and along strike and extensions will be targeted in future drilling campaigns. The structural and geological information from the drilling campaign has been used to update the geological model which builds the framework for the new resource update for Danaya. Anuncio • Dec 14
Leo Lithium Limited Appoints Tim Richards as Chief Operating Officer Leo Lithium Limited announced the appointment of senior mining executive Tim Richards as Chief Operating Officer (COO), as the company brings the Goulamina Lithium Project into operations over the next 18 months. Tim is a mining engineer with an MBA from the University of Oxford. He brings over twenty years of mining experience to Leo, across the full range of asset development and operations including scoping and feasibility studies, site technical services, operations and mine management. Tim has significant experience in West Africa, having worked for seven years across multiple projects in Ghana and Mauritania as well as in South Africa. Tim was involved in the development of new and existing underground and open pit operations for Kinross Gold in Ghana and Mauritania, and oversaw the successful expansion of mining operations at the Tasiast Gold Mine, including a 500% increase in mine output during his tenure. Tim has also successfully managed remote operations in PNG and Europe. Notably, Tim was instrumental in the successful operational and financial turnaround of St Barbara's Simberi Gold operation in PNG. Tim has resigned from his current role as CEO of Geopacific Resources Ltd. and will commence with Leo in late January 2023. Initially he will focus on developing the operations team, operational readiness and firming up plans for producing direct shipped ore (DSO) in 2023. Anuncio • Nov 15
Leo Lithium Limited Announces Resignation of Mark Hepburn as Non-Executive Director Non-Executive Director of Leo Lithium Limited, Mr. Mark Hepburn has tendered his resignation from the Board of the Company, effective November 15, 2022. The company has commenced a search for an additional independent non-executive director. Anuncio • Nov 04
Leo Lithium Limited Resource Drilling Reveals Thick, High Grade Spodumene Leo Lithium Limited provided a progress update on results from the Goulamina Lithium Project (Goulamina or the Project) resource drilling program, following completion of planned drilling at the Danaya Domain (Danaya). The 2022 Resource Drilling Program at Danaya has the main objective to increase the confidence level in this part of the orebody and convert a significant amount of inferred resource into the indicated resource category. An additional objective is the increase of the overall resource base at Danaya. As of 28 October, 77% of RC assay results have been received (2426 assays from a total of 3152 samples). Diamond core is being processed and results will be announced as soon as they become available and have been reviewed. The previously announced2 Danaya resource drilling program is targeted to maintain the current 23-year mine life at higher production rates. The planned drilling program included 65 holes (54 reverse circulation (RC) and 11 diamond (DD) holes, targeted at converting the Inferred Mineral Resources at Danaya to Indicated Mineral Resources. A second objective is to extend drilling at depth, targeting continuation of open mineralisation from previous drilling. Drilling at Danaya commenced in March 2022. Interim Results: Fifty-four reverse circulation (RC) holes (8,869 metres) and 11 Diamond holes (2,236 metres) as well as 6 RC holes with diamond tails (1,189 metres) have been completed at Danaya. The drilling program has infilled previous drilling to a nominal section spacing of 50 metres (previous nominal spacing was in the range of 100 metres in parts). Drilling has successfully identified multiple north-south striking spodumene pegmatites at Danaya. Most holes intersected multiple spodumene pegmatites, notably GMRC527, which included significant intercepts of 44 m @ 1.2% Li2O (from 60 m), 64 m @ 1.76% Li2O (from 111 m) and 62 m @ 1.32% Li2O (from 200 m). The majority (approximately 70 percent) of the observed spodumene pegmatite mineralisation within the Danaya Domain is coarse to very coarse grained. The remaining 30 percent is medium to fine grained. Figure 2 shows typical coarse grained spodumene pegmatite from GMDD014 (210.4 m - 217 m) The structural and geological information from the drilling campaign is being used to update the geological model to build the framework for the new resource update for Danaya. The measured orientation of pegmatite contacts in diamond drill core suggests an apparent shallowing of dip to the south. Anuncio • Nov 01
Leo Lithium Limited Appoints Rick Crabb as Director Leo Lithium Limited appointed Rick Crabb as director. Date of appointment is 1 November 2022. Recent Insider Transactions • Sep 22
Non-Executive Chairman recently sold AU$845k worth of stock On the 20th of September, Alistair Cowden sold around 1m shares on-market at roughly AU$0.74 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Alistair's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 26
Independent Non-Executive Director recently bought AU$53k worth of stock On the 24th of August, Brendan Borg bought around 100k shares on-market at roughly AU$0.53 per share. In the last 3 months, they made an even bigger purchase worth AU$137k. Insiders have collectively bought AU$327k more in shares than they have sold in the last 12 months. Board Change • Jul 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Brendan Borg was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.