Sydney, Australia – March 15, 2024 – Litchfield Minerals Limited (ASX: LMS), an ASX listed junior critical minerals exploration company, today announced its shares will begin trading on the Australian Securities Exchange (ASX) at 11:00am AEDT under the ticker code LMS. This marks a significant milestone for the company, which is focused on the exploration of critical minerals in the Northern Territory, with an initial emphasis on copper and uranium.
The company's initial public offering (IPO) was met with strong investor interest, raising A$5 million at A$0.20 per share, indicating strong market confidence in Litchfield’s strategic direction and exploration prospects. This capital will support the commencement of drilling activities at the company’s approved Silver King and other exploration projects.
Litchfield Minerals is poised to capitalize on the increasing global demand for clean energy solutions, with a portfolio that includes significant drill-ready copper assets and uranium holdings. The company’s Mount Doreen tenement, located 350km from Alice Springs, features an 8km long uranium, radiometric anomaly adjacent to Energy Metals’ Bigryli uranium deposit, underscoring the area's rich uranium potential.
Dr Peter Eaglen, Chair of Litchfield Minerals, expressed his enthusiasm for the company’s future: “We are very pleased to announce that the Company’s shares will commence trading on the ASX on the 15th of March, following a successful IPO capital raise for $5.0m, before costs. With uranium spot prices currently at 16-year highs coupled with the continued growth in demand for carbon-free energy, the listing is timely and presents a significant opportunity to create significant shareholder value through the systematic exploration of our projects.”
Dr Eaglen also highlighted the company’s immediate plans: “With our Mount Doreen Copper Project being drill ready, we plan to immediately start exploration with drilling expected to commence shortly.”
In addition to its exploration activities, Litchfield announced the appointment of Peter Harding-Smith as joint Company Secretary and Chief Financial Officer until admission to the Official List, after which he will serve as the sole Company Secretary. The company also acknowledged the departure of Jacqui Lam, who has decided to pursue an external opportunity.
Dr Eaglen thanked Jacqui Lam for her contributions: “I would like to express my sincere thanks to Jacqui for her contribution to Litchfield Minerals, in particular during the initial IPO phase. We will miss her insights and dedication to the Company and on behalf of the Board, I wish Jacqui well for the future.”
About us:
Litchfield Minerals our mission is to be a pioneering copper exploration company committed to delivering cost-effective, innovative, and sustainable exploration solutions.
Contact details:
Jane Morgan