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Kiran Morzaria CEO of Cadence Minerals discusses Evergreen Lithium’s successful IPO on the ASX, which has seen it's share price rally by 50%. Cadence Minerals hold a 8.74% of the issued share capital of Evergreen and is its largest shareholder.
Highlights
Ø Cadence holds 8.74% of Evergreen Lithium and is its largest shareholder.
Ø Evergreen intends to advance three hard rock lithium exploration projects in Australia.
Ø Evergreen has listed with approximately AS$ 10 million cash in hand.
Ø The flagship Byone Lithium Project covers the north-eastern strike extent of the lithium-and tantalum endowed Bynoe Pegmatite field;
o The project is adjacent to Core Lithium's producing lithium mine.
o Soil sampling on the project returned geochemical anomalies indicating lithium mineralisation.
o Based on soil sampling alone, an initial five target zones containing lithium mineralisation have been identified.
Ø The second prospect, Kenny Lithium, is located within the Dundas Mineral Field of Western Australia, close to Mt Dean and Mt Belches-Bald Hill pegmatite fields.'
o Initial field mapping on the project has confirmed the presence of substantial outcropping pegmatites
o 10km zone of pegmatite outcropping has been confirmed in the North-Eastern section of the Kenny Lithium Project
o Evergreen has recently completed a comprehensive auger program, drilling 1,731 holes. Evergreen expects the results to be available shortly after admission.