Last checked at 14 Apr 2023 07:00
14 April 2023
Bradda Head Lithium Ltd
("Bradda Head", "Bradda", "BHL" or the "Company")
Director Dealings
Bradda Head Lithium Ltd. (AIM:BHL, TSXV:BHLI, OTCQB:BHLIF) ("Bradda Head" or the "Company"), the North America-focused lithium development company, announces that it was notified on 13 April 2023 that Galloway Limited, indirectly wholly owned by one of its directors, Jim Mellon, purchased shares in the Company on the open market at 4.5pence per share, as detailed below.
Name | Holding of Existing Ordinary Shares | Number of Shares Purchased | Number of Ordinary Shares held following Purchase | % of Ordinary Share Capital held following Purchase |
Jim Mellon* | 65,097,004 (16.67%) | 8,000,000 | 73,097,004 | 18.71% |
* Shares held by Galloway Limited, which is indirectly wholly owned by James Mellon and of which Denham Eke is a director. | ||||
Bradda Head continues to progress its pegmatite projects, with the recently completed San Domingo scout drilling programme (completed on 10 March 2023) pending final assay results.
As announced on 16 March 2023, sonic drilling commenced at the Company's Basin Project, in Arizona, with the intention of further adding to its existing NI 43-101 Compliant Mineral Resource of Lithium Carbonate Equivalent (LCE) tonnes.
The next 6-9 months contain several material catalysts for the Company, and Bradda Head will continue to keep the market updated on our progress and looks forward to the exciting developments ahead.
For further information please visit the Company's website: www.braddaheadltd.com.
For further information, please contact:
Bradda Head Lithium Limited | +44 (0) 1624 639 396 |
Charlie FitzRoy, CEO Denham Eke, Finance Director | |
Beaumont Cornish (Nomad) James Biddle/Roland Cornish | +44 20 7628 3396 |
Peterhouse (Joint Broker) | +44 207 469 0930 |
Charles Goodfellow Duncan Vasey Lucy Williams | |
Shard Capital (Joint Broker) | +44 207 186 9927 |
Damon Heath Isabella Pierre | |
Red Cloud (North American Broker) | +1 416 803 3562 |
Joe Fars | |
Tavistock (PR) | + 44 20 7920 3150 |
Nick Elwes Adam Baynes | braddahead@tavistock.co.uk |
About Bradda Head Lithium Ltd.
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 Basin Project (Basin East Project, and the Basin West Project) and the Wikieup Project.
The Basin East Project has an Indicated Mineral Resource of 21.2 Mt at an average grade of 891 ppm Li and 3.5% K for a total of 100 kt LCE and an Inferred Mineral Resource of 73.3 Mt at an average grade of 694 ppm Li and 3.2% K for a total of 271 kt LCE. In the rest of the Basin Project SRK has estimated an Exploration Target of between 300 to 1,300 Mt of material grading between 600 to 850 ppm Li which is equivalent to a range of between 1 to 6 Mt LCE. 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 with the ticker of BHL, on the TSX Ventures exchange with a ticker of BHLI, and on the US OTCQB market with a ticker of BHLIF.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jim Mellon | ||||
2 | Reason for notification | |||||
a) | Position / status | Non-Executive Deputy Chairman | ||||
b) | Initial notification/Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Bradda Head Lithium Limited | ||||
b) | LEI | 213800T879QQXKR2WN54 | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of nil par value each ISIN VGG154091083
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Nature of the transaction | Share purchase
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c) | Price(s) and volumes(s) |
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d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 13 April 2023 | ||||
f) | Place of the transaction | LSE, AIM, XLON | ||||
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "intends to", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, following: The Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; delays in obtaining or failures to obtain required regulatory, governmental, environmental or other project approvals; political risks; future operating and capital costs, timelines, permit timelines, the market and future price of and demand for lithium, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices; delays in the development of projects, capital and operating costs varying significantly from estimates; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.