West Perth-based lithium explorer Lepidico has called in administrators from KordaMentha, who intend to start a sale or recapitalisation of the business soon.
Our board moves wrap includes Julie Elliott, Robert Hines, James Sullivan, John Morrison, Victor Rajasooriar, Adrian Paul, Brian Talbot, Raymond van Hulst, Simon Whybrow, and Stephen Jones.
Venus Metals' farm in partner Lepidico has intersected multiple lepidolite-bearing lithium pegmatites at the company's Youanmi project tenements in the Murchison region of WA. Better results include 12 metres grading 0.68% lithium oxide from 6 metres down-hole, 2m @ 1.58% lithium oxide from 31m and 4m @ 0.76% lithium oxide from 23m.
Lepidico is pleased to advise that the Renounceable Entitlements Offer announced on 3 September 2018 has been well supported by the Company's shareholders and new investors and closed significantly
Venus Metals' farm in partner Lepidico has intersected multiple zones of lithium-rich mineralisation whilst drilling at the company's Youanmi project tenements in the Murchison region of W.A. Lepidico reported intersections up to 9m thick of lepidolite mica from the recently completed drill campaign and it has secured an option to earn up to 80% of the lithium rights on an exploration licence located 20km from Venus' Youanmi gold operation.
Aspiring lithium miner Lepidico has attracted backing from Galaxy Resources as part of a $7 million capital raising, while Northern Minerals and Musgrave Resources have tapped their respective investors for a combined $7 million.
A hostile acquisition attempt aimed at junior explorer Lepidico has passed deadline with minimal acceptances and will not go ahead, the takeover target says.
Lithium Australia is pushing ahead with its takeover plans for Lepidico, extending the deadline by two weeks despite only a small portion of the target's shareholders taking up the offer so far.
Lithium Australia's $23.8 million takeover offer for lithium-focused rival Lepidico looks set to fall short, with the bidder lifting its stake to only 18.28 per cent a week out from the offer's closing date.
Lepidico has formally rejected rival Lithium Australia's $23.8 million takeover bid, after an independent expert labelled the offer as neither fair nor reasonable.
Takeover target Lepidico has tapped investors for nearly $5.7 million, a day after Breakaway Research recommended the Perth lithium company as a ‘speculative buy'.
Lithium Australia's $23.8 million takeover bid for rival Lepidico appears to be heading for rejection, with the target company not confident about the operational methods of Lithium's core asset.
Perth-based explorer Lithium Australia has lodged a takeover bid for rival lithium-focused Lepidico - in the middle of a Supreme Court battle between the two companies - in an all-scrip deal that values the target at $23.8 million.
Shares in Platypus Minerals were down more than 31 per cent today as the company announced a $10 million deal to buy Belmont-based lithium explorer Lepidico.
West Perth-based Epsilon Energy has entered a joint venture deal over its Mardie iron ore project near Dampier with private company Platypus Resources.
West Perth-based minerals explorer Ashburton Minerals Ltd has announced plans to raise $2.3 million through a rights issue to fund exploration activities in Brazil and Western Australia.
