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Bradda Head Lithium Ltd - North America-focused lithium development company - Receives $2.5 million royalty payment from the Lithium Royalty Corp. This is after confirmation of its mineral resource estimate surpassing 1.0 megatonnes of lithium carbonate equivalent at its Basin project in the US state of Arizona. Says it has confidence in achieving the next milestone of 2.5 megatonnes of lithium carbonate equivalent to receive a further $3.0 million payment from LRC.
Executive Chair Ian Stalker says: ‘In addition to resource expansion, we are also expanding our claims, with indications that similarly positive geology extends to the north, into the new claims. These new claims will also feed into the high-grade potential of future resource expansion and will enable us to reach the 2.5 [megatonnes] threshold for the next royalty payment more quickly.’
Current stock price: 2.59 pence, up 5.9% on Tuesday
12-month change: down 66%
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