Last checked at 20 Jan 2022 07:00
20 January 2022
Bradda Head Lithium Ltd.
("Bradda Head", "Bradda" or the "Company")
Commencement of Trading on the OTCQB Market
Bradda Head Lithium Ltd. (AIM: BHL), the North America-focused lithium development group, announces that the Company's ordinary shares will cross-trade publicly on the US OTCQB Market ("OTCQB"), under the ticker BHLIF, with effect from market open in the US today.
Trading on the US OTCQB market will have no impact on the Company's existing ordinary shares trading on AIM, a market operated by the London Stock Exchange. No new ordinary shares were issued as part of the cross-trade. The Group will continue to make announcements and disclosures to the London Stock Exchange through the Regulatory News Channel and has no Sarbanes-Oxley or SEC reporting requirements.
The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Independent studies show that trading on the OTC by an international company offers a positive effect on the liquidity of its shares.
Charles FitzRoy, CEO of Bradda Head Lithium, commented:
"The Company is seeking to encourage the significant interest that our Arizona projects have generated internationally with the commencement of trading of our shares on the OTCQB. The US has significant interest in lithium as a commodity and we hope that the visibility we gain will further broaden our shareholder base and increase shareholder demand in one of the major lithium markets
of the world."
"Bradda finished 2021 in a great position with $9.9m in the treasury from the royalty transaction with LRC as well as our 2021 IPO funds and has started 2022 strongly. Cross-listing on the OTCQB will enable North American investors to trade our AIM listed shares gaining exposure to this North American lithium opportunity."
"We will be announcing the resource upgrade at Basin East (see below name change) in Q1 where we already have a JORC resource of 185kt of LCE as well as our maiden resource from Wikieup in Q2, where we are drilling currently. Other newsflow to watch out for in 2022 is related to the planned drilling programme at San Domingo and geophysics results at Eureka. Exciting times ahead for Bradda Head which we look forward to updating all our shareholders on."
Asset Name Changes
The Company has changed the name of some of its assets to better reflect the Company's naming conventions.
- Burro Creek has been changed to Basin to simplify, reflect its geological province (Basin & Range) and to bring together all the different elements (Burro Creek East, East Extension, West, North, West Extension) into one project called the Basin Project. The below table outlines the changes:
Previous name | New name | Previous abbreviation | New abbreviation |
Burro Creek Project | Basin Project | N/A | N/A |
Burro Creek East | Basin East | BCE | BE |
Burro Creek East Extension | Basin East Extension | BCEE | BEE |
Burro Creek North | Basin North | BCN | BN |
Burro Creek West | Basin West | BCW | BW |
Burro Creek West Extension | Basin West Extension | BCWE | BWE |
- Spencer has been changed to Eureka after the township called Eureka located in relative proximity to Spencer
The Company also advises that in connection with the Company name change announced on 15 September 2021 the ISIN is now VGG154091083 and the CUSIP G15409 108.
For further information please visit the Company's website: www.braddaheadltd.com
Contact:
Bradda Head Lithium Limited | +44 (0) 1624 639 396 |
Charlie FitzRoy, CEO Denham Eke, Finance Director |
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Beaumont Cornish (Nomad) James Biddle/Roland Cornish | +44 20 7220 1666 |
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Peterhouse (Joint Broker) | +44 207 469 0930 |
Charles Goodfellow Duncan Vasey Lucy Williams |
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Shard Capital (Joint Broker) | +44 207 186 9927 |
Damon Heath Isabella Pierre |
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Red Cloud (North American Broker) | +1 416 803 3562 |
Joe Fars |
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Tavistock (PR) | + 44 20 7920 3150 |
Nick Elwes Oliver Lamb Adam Baynes | braddahead@tavistock.co.uk |
Notes to Editors
Bradda Head Lithium Ltd. is a North America-focused lithium development group. The Company currently has interests in a variety of projects, the most advanced of which are in Central and Western Arizona: The Burro Creek Project (the Burro Creek East Project and the Burro Creek West Project) and the Wikieup Project.
The Burro Creek East Project has an estimated an Inferred Mineral Resource (JORC) of 42.6 Mt of lithium-bearing clays at an average grade of 818 ppm of lithium for 185,000 tonnes of lithium carbonate equivalent (LCE). The Burro Creek East Project also has additional exploration potential for extensions to the current model of between 50,000 to 300,000 tonnes of lithium carbonate equivalent.
The Group intends to continue to develop its three phase one projects in Arizona, whilst endeavouring to unlock value at its other prospective pegmatite and brine assets in Arizona, Nevada, and Pennsylvania.
All of Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.
Bradda Head is quoted on the AIM of the London Stock Exchange and listed on the OTCQB Board of the OTC Markets with the ticker of BHL.