Last checked at 27 Jun 2022 12:12
27 June 2022
Bradda Head Lithium Ltd
("Bradda Head", "Bradda", "BHL" or the "Company")
Director Dealings
Bradda Head Lithium Ltd (AIM:BHL, OTCQB:BHLIF) announces that it was notified on 24 June 2022 that four of its directors purchased shares in the Company on the open market, 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 * | 64,979,404 | 117,600 | 65,097,004 | 16.67% |
Ian Stalker | 3,699,690 | 170,450 | 3,870,140 | 1.00% |
Euan Jenkins | 2,098,934 | 100,000 | 2,198,934 | 0.56% |
Alex Borrelli | 315,649 | 27,680 | 343,329 | 0.01% |
* 117,600 shares acquired by Galloway Limited, which is indirectly wholly owned by James Mellon. All James Mellon's shares are held by Galloway Limited | ||||
The Directors have taken advantage of the current share price (dropped 51% since highs of 17.3p on 23rd March 2022) and believe this represents a very good buying opportunity. Bradda is in the strong position of being well capitalised, with multiple work programmes in action for the remainder of 2022.
Bradda also recently received permission to drill at Basin North (part of the Basin Sedimentary lithium project in Arizona) and at San Domingo (Bradda's pegmatite district in Arizona).
The second half of 2022 contains several material catalysts for the Company, including the following planned work programmes:
1. | 44-hole drill programme at the Basin Project feeding into a revised resource at the end of the year |
2. | 30-hole maiden drill programme at San Domingo, with results expected in H2 |
3. | 2-hole maiden drill programme at Wilson to drill and test the brine potential |
Bradda Head will continue to keep the market updated on our progress and looks forward to an exciting 6 months ahead.
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 | |
Beaumont Cornish (Nomad) James Biddle/Roland Cornish | +44 20 7220 1666 |
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 |
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 Basin Project (Basin East Project, and the Basin West Project) and the Wikieup Project.
The Basin East Project has an Indicated Mineral Resource of 17.6Mt at an average grade of 912ppm Li and 3.4%K for a total of 86kt LCE and an Inferred Mineral Resource of 57.6Mt at an average grade of 717ppm Li and 3.3%K for a total of 220kt LCE. In the rest of the Basin Project SRK has estimated an Exploration Target of between 300 and 1,300Mt of material grading between 600 and 850ppm Li which is equivalent to a range of between 1 and 6Mt 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 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 Warrant over ordinary shares
| ||||
Nature of the transaction | Issued pursuant to participation in subscription
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c) | Price(s) and volumes(s) |
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d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 23 June 2022 | ||||
f) | Place of the transaction | LSE, AIM, XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ian Stalker | ||||
2 | Reason for notification | |||||
a) | Position / status | Non-Executive 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 Warrant over ordinary shares
| ||||
Nature of the transaction | Issued pursuant to participation in subscription
| |||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 22 June 2022 | ||||
f) | Place of the transaction | LSE, AIM, XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Euan Jenkins | ||||
2 | Reason for notification | |||||
a) | Position / status | Independent non-executive director | ||||
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 Warrant over ordinary shares
| ||||
Nature of the transaction | Issued pursuant to participation in subscription
| |||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 21 June 2022 | ||||
f) | Place of the transaction | LSE, AIM, XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alex Borrelli | ||||
2 | Reason for notification | |||||
a) | Position / status | Independent non-executive director | ||||
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 Warrant over ordinary shares
| ||||
Nature of the transaction | Issued pursuant to participation in subscription
| |||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 24 June 2022 | ||||
f) | Place of the transaction | LSE, AIM, XLON | ||||