RE: RNS29 Jul 2022 08:06
Ian Stalker, Chairman of Bradda Head Lithium, commented:
"The financial year has been both busy and very exciting, with the Company raising gross funds of over US$8 million as part of a successful AIM IPO. The funds have been strategically deployed to fast-track and complete our Basin East drilling programme, resulting in a 65% increase in the MRE to 305kt of lithium carbonate equivalent, and an exploration target of between 1Mt to 6Mt of LCE over the Company's Basin projects. We also significantly increased our landholding in Arizona, and strengthened our team members with key senior appointments. We also completed a maiden drill programme at our Wikiuep asset, with assay results pending, which may lead to a maiden MRE later in the year.
"Following a successful fundraise completed during April 2022, raising gross proceeds of US$12.9 million, the Company is well-funded to carry out its exploration plans, and to unlock the full potential of its projects."