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Bradda Head Lithium Ltd. (BHL.L) has announced its unaudited financial results for the six-month period ending August 31, 2023. The company has successfully completed significant drilling programs at its Basin and San Domingo Properties in Arizona, USA. The updated Mineral Resource Estimate (MRE) includes over 1Mt LCE, triggering a royalty payment of US$2.5 million, positioning the company for continued work into 2024.
Financial and Operational Highlights
Ian Stalker, Chairman of Bradda Head, has expressed satisfaction with the company’s progress, particularly the positive assay results from the Basin project and the commencement of Phase 3 drilling at San Domingo. The company anticipates further updates on exploration results.
Company’s Growth and Development
Bradda Head Lithium Ltd. is focused on developing lithium mining projects in North America. With interests in various projects, the most advanced are in Central and Western Arizona. The company’s licenses are held on a 100% equity basis and are strategically located near essential infrastructure.
The company’s future plans include continued exploration and development of its lithium mining projects. However, these plans involve risks and uncertainties that could cause actual results to differ materially from expectations.
Recent corporate highlights include the appointment of PKF Littlejohn LLP as new auditors and the resignation of Charles FitzRoy as CEO. The company is actively seeking a new CEO to lead its next growth phase.
The global demand for lithium is expected to rise sharply, and Bradda Head Lithium Ltd. is well-positioned to capitalize on this growth, particularly in the US market.
Company Website: https://www.braddaheadltd.com
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