US-based lithium miner Chariot Corporation has officially listed on the ASX (Australian Securities Exchange).
The news follows the completion of a $9 million initial public offering (IPO).
“The IPO is the result of the great work of our joint lead managers, corporate and technical teams, advisors and our key supporters in the capital markets,” Chariot managing director Shanthar Pathmanathan said.
“Chariot now offers ASX investors exposure to the nascent and rapidly growing US lithium market.”
Chariot holds a 81.9 per cent interest in the Black Mountain project in Wyoming. The Black Mountain project features lithium mineralisation at surface within spodumene bearing pegmatites.
“With the funds raised from the IPO, we are pursuing the first discovery of a large hard rock lithium resource in Wyoming,” Pathmanathan said. “On behalf of the board, I welcome new shareholders to the company.”
The proceeds will primarily be used to finance exploration activities at the project, with phase one drilling scheduled to start by the first week of November.
Previous drilling has intersected assay results of up to 6.68 per cent lithium oxide and an avergae assay result of 2.16 per cent lithium oxide from 22 samples.
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