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 23% of the company, and 2 directors are on the board; Hancock holds 10.7%. Both acquired shares at the major cap raise at 46c.

FLAGSHIP ASSETS

Mt Ida Lithium Gold Project WA

Project Data

Gold resource is at 6.6Mt@3.5g/t for 752k oz (June 2024), bought from OBM for $11m in 2021.

Lithium resource is at 14.6Mt@1.2% for 180kt

Mining approvals in place.

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.

SUMMARY

You wonder why OBM sold the gold project in 2021 in the first place.