Patagonia Lithium Ltd is focus on exploration, evaluation and assessment of the Projects in Argentina. It is set to list on the Australian Securities Exchange (ASX).
Patagonia Lithium Ltd has 3 projects – Formentera Project, Cilon Project and Tomas III Project.
*Formentera Project – is the Company’s flagship project and the concession area is approximately 1,752 hectares. It is considered by the Company to be prospective for lithium and/or borates. It is located in the municipality of Coranzuli in the Jujuy province.
*Cilon Project – located in the Susques department, Jujuy Province, northwest of Argentina, has currently an exploration permit in force for borate. The concession area is approximately 199 hectares and is located in an area dominated by clastic and saline sedimentation.
*Tomas III Project – is located adjacent to the Incahuasi salar and includes a mining licence granted in the Tolar Grande department, Salta Province, northwest Argentina, being potentially prospective for lithium and/or base metals. The concession area is approximately 571.5403 hectares and is located in an area dominated by volcanics and sits about 300-600m above the surface of the salar.
Patagonia Lithium Ltd was looking to raise up to $8 million at $0.20 per share in its initial public offering (IPO). The Public Offer opens on 25 Nov 2022 and closes on 5 Dec 2022. The expected date for quotation on ASX is 19 Dec 2022.
Note: The dates shown on this page are indicative only and may change without notice.
IPO Summary
| ASX code | PL3 |
| Name | Patagonia Lithium Ltd |
| Website | https://www.patagonialithium.com.au/ |
| Share Registry | Automic Pty Ltd |
| Underwriter | Not underwritten. Pamplona Capital Pty Ltd (Lead Manager) |
| Opening Date for the Public Offer: | 25 November 2022 |
| Closing Date for the Public Offer: | 5 December 2022 |
| Expected date for New Shares to commence trading on ASX | 19 December 2022 |
| Funds to be raised under the Public Offer (before costs) | $8,000,000 (Max) |
| Offer price per share | $0.20 |
| Shares on issue at the Prospectus Date | 15,440,000 |
| Shares to be issued under the Public Offer | 40,000,000 |
| Total Shares (undiluted) | 55,565,000 |
| Escrow (estimated) | 8,936,500 Shares (a period of 24 months from quotation) 16,350,000 Shares (a period of 12 months from date of issue) |
Source: Patagonia Lithium Ltd prospectus, official website.