TIDMBHL
RNS Number : 3701K
Bradda Head Lithium Ltd
24 August 2023
24 August 2023
Bradda Head Lithium Ltd
("Bradda Head", "Bradda", "BHL" or the "Company")
Canadian Regulatory Announcement: Update on filing of TSX-V
audited accounts
Vancouver, British Columbia - (August 24, 2023) - Bradda Head
Lithium Limited (AIM:BHL, TSXV:BHLI, OTCQB:BHLIF), the North
America-focused lithium development company, has today published a
regulatory announcement on the TSX-V as required by the British
Columbia Securities Commission which is set out in an Appendix
below.
The requirement is for the Company to provide an update on the
expected timing for release of its audited account. The Company
expects to release and file the audited accounts on 25 August
2023.
For further information please visit the Company's website:
www.braddaheadltd.com .
For further information, please contact:
Bradda Head Lithium Limited +44 (0) 1624 639 396
Charles FitzRoy, CEO
Denham Eke, Finance Director
Beaumont Cornish (Nomad)
James Biddle/Roland Cornish +44 20 7628 3396
Panmure Gordon (Joint Broker) +44 20 7886 2500
John Prior
Hugh Rich
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 braddahead@tavistock.co.uk
Adam Baynes
About Bradda Head Lithium Ltd.
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 21.2
Mt at an average grade of 891 ppm Li and 3.5% K for a total of 100
kt LCE and an Inferred Mineral Resource of 73.3 Mt at an average
grade of 694 ppm Li and 3.2% K for a total of 271 kt LCE. In the
rest of the Basin Project SRK has estimated an Exploration Target
of between 300 to 1,300 Mt of material grading between 600 to 850
ppm Li which is equivalent to a range of between 1 to 6 Mt 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.
The Mineral Resource statement for the Basin Project was
authored by Martin Pittuck, CEng, MIMMM, FGS who works for SRK
Consulting (UK) Ltd, an independent mining consultancy. Mr. Pittuck
has over 25 years' experience undertaking and reviewing Mineral
Resource estimates and has worked on lithium clay estimates for
over 5 years. Mr. Pittuck consents to the inclusion of the
technical information in this press release and context in which
they appear. Reference is made to the report entitled "Independent
technical report on the Basin and Wikieup Lithium clay projects,
Arizona, USA" dated October 18, 2022 with an effective date of June
10, 2022 was prepared by Martin Pittuck, CEng, MIMMM, FGS, and
Kirsty Reynolds MSci, PhD, FGS and reviewed by Nick Fox MSc, ACA,
MIMMM. The Report is available for review on SEDARplus (
www.sedarplus.ca/landingpage ) and the Company's website
www.braddaheadltd.com .
Bradda Head is quoted on the AIM of the London Stock Exchange
with the ticker of BHL, on the TSX Ventures exchange with a ticker
of BHLI, and on the US OTCQB market with a ticker of BHLIF.
Appendix
Vancouver, British Columbia - (August 24, 2023) - Bradda Head
Lithium Limited (AIM:BHL, TSXV:BHLI, OTCQB:BHLIF), the North
America-focused lithium development company, is required by the
British Columbia Securities Commission and National Policy 12-203 -
Management Cease Trade Orders ("NP 12-203") to provide an update on
the progress of the audit of its TSX-V financial statements for the
year ended 28 February 2023 every two weeks until these financial
statements are filed.
The Company reports that the audit is advancing well and
currently expects to complete the audit and required filings on 25
August, 2023 and will issue an update announcing the conclusion of
the filings at such time. Further updates on timing will be
provided by the Company as necessary.
Following publication of the audited financial statements and
required filings, the Company intends to file its 31 May 2023
interim financial statements (and related filings) within five
business days following the date of publication of its annual
financial statements, i.e., on or before September 1, 2023.
As required by the alternative information guidelines specified
by NP 12-203, the Company reports (i) that there are no changes to
the information contained in the default announcement dated 29
June, 2023 that would reasonably be expected to be material to an
investor; (ii) there has been no failure by the Company in
fulfilling its stated intentions with respect to satisfying the
provisions of the alternative information guidelines set out in NP
12-203; (iii) there has not been any other specified default by the
Company under NP 12-203; and (iv) there is no other material
information concerning the affairs of the Company that has not been
generally disclosed.
During the Management Cease Trade Order, investors will continue
to be able to trade in the Company's listed common shares on London
AIM and the TSV-X. Only the Company's Chief Executive Officer and
Chief Financial Officer will not be able to trade.
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. This News Release includes certain "forward-looking
statements" which are not comprised of historical facts.
Forward-looking statements include estimates and statements that
describe the Company's future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be
identified by such terms as "believes", "anticipates", "intends
to", "expects", "estimates", "may", "could", "would", "will", or
"plan". Since forward-looking statements are based on assumptions
and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Although these statements
are based on information currently available to the Company, the
Company provides no assurance that actual results will meet
management's expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release
includes, but is not limited to, following: The Company's
objectives, goals or future plans. Factors that could cause actual
results to differ materially from such forward-looking information
include, but are not limited to: failure to identify mineral
resources; failure to convert estimated mineral resources to
reserves; delays in obtaining or failures to obtain required
regulatory, governmental, environmental or other project approvals;
political risks; future operating and capital costs, timelines,
permit timelines, the market and future price of and demand for
lithium, and the ongoing ability to work cooperatively with
stakeholders, including the local levels of government;
uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices; delays in the
development of projects, capital and operating costs varying
significantly from estimates; an inability to predict and
counteract the effects of COVID-19 on the business of the Company,
including but not limited to the effects of COVID-19 on the price
of commodities, capital market conditions, restriction on labour
and international travel and supply chains; and the other risks
involved in the mineral exploration and development industry, and
those risks set out in the Company's public documents filed on
SEDARplus. Although the Company believes that the assumptions and
factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
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