Delta Lithium (ASX: DLI) – develop two WA lithium project

 

COMPANY SCOREBOARD

Pro PlusProCon PlusCon
  • Strong institution support
  • Directors credential
  • Active exploration

 

 

ABOUT COMPANY

Delta lithium (DLI) (https://deltalithium.com.au/) explores lithium and gold in Western Australia. Its flagship is the Mt Ida Lithium Gold Project.

CAPITAL STRUCTURE

MIN owns 17.44% of the company, and 2 directors are on the board.

Some of the performance rights have a minimum share price hurdle of $1. 12m performance rights to David Flanagan has a minimum hurdle of delineation of 50Mt resource at minimum grade of 0.8% by November 2025

FLAGSHIP ASSETS

Mt Ida Lithium Gold Project WA

Project Data

The initial metallurgical testwork reported 74% recovery rate.

The initial maiden resource is far from substantial.

Below are the project’s resources:

The 2023 update estimated the resource of 9.9Mt@1.5% at 0.9% cut-off for 148,500

OTHER ASSETS

Yinnetharra Lithium Project Gascoyne

The company acquired the project in September 2022 for $15m shares@56.7c and an additional milestone payment of $10m shares@VWAP upon delineation of 15m@0.9% Li2O within 4 years (ACHIEVED) from a 100% owned subsidiary of Toronto based Waratah Capital Advisers (a Chinese backed entity).

In Dec 2023, the company reported a resource estimate of 14.4m@1.1% for 158,400 Li.

Eureka Gold Project Menzies WA

In October 2020, the company acquired the current two gold projects in WA for 29.55m shares and 19.75m unlisted options at 25c.

The project has a resource of 1.477m@1.9 g/t for 88k oz gold with 1% cut.

SUMMARY

There is no more than 100-200kt li there so far at the best. The Chair resigned before resources estimate.