Lithium projects are taking too long to come online and there is not enough coming online to meet future demand.
In Canada, investment in the lithium pace has been substantial yet no lithium has come out of the country in the last two decades.
Enter Lithium Universe Ltd (ASX:LU7)’s Apollo Lithium Project in James Bay, Quebec with a dominant land position spanning over 240 square kilometres in the greenstone belt of the La Grande sub-province.
Lithium Universe is focused on the swift development of Apollo rather than solely focusing on exploration.
$4.5 million capital raise
The company is raising up to $4.5 million through a public offering and is expected to start trading on the ASX in early August via the transformation of listed gaming company Mogul Games (MGG) to Lithium Universe.
The Apollo Lithium Project is in the same greenstone belt and about 29 kilometres southeast of the Corvette Lithium Project owned by Patriot Battery Metals Inc (TSX-V:PMET, OTCQX:PMETF, ASX:PMT).
Patriot’s most successful drill result was a remarkable 156 metres at 2.12% Li2O (lithium oxide).
Similarly, 28 kilometres to the east, Winsome Resources Ltd (ASX:WR1) recently announced a high-grade intersection of 107 metres at 1.34% Li2O from 2.3 meters at its Adina Project.
Apollo already has 17 pegmatite outcrops reported on its tenement package.
Given the exceptional results from its neighbouring projects in addition to a similar geological host, the Apollo Lithium Project has the potential to be equally successful.
Lithium Universe is led by Altech Batteries Ltd (ASX:ATC) managing director Iggy Tan, who has formed a highly skilled team of lithium professionals for the ambitious Apollo Project.
The group, dubbed a ‘lithium dream team’, consists of industry veterans with extensive experience and expertise in the lithium sector.
Tan was one of the first Australian mining executives to identify an opportunity within the lithium sector by spearheading Galaxy Resources Ltd (ASX:GXY).
During Tan’s tenure at Galaxy, he led the establishment of the 137,000 tonnes per annum (tpa) Mt Cattlin spodumene mine in Western Australia and the 17,000 tpa downstream Jiangsu lithium carbonate project in China.
Unparalleled knowledge
One notable member of the team is Patrick Scallan, who successfully managed the world-renowned Greenbushes Mine for more than 25 years. Greenbushes is the largest lithium hard rock mine globally and the highest-grade orebody.
Joining Scallan are esteemed individuals such as Dr Jingyuan Liu, Terry Stark, Roger Pover and Huy Nguyen, who have held management and executive positions at Galaxy.
Dr Liu, formerly the general manager of Technology at Galaxy, played a key role in the development of the Jiangsu Lithium Carbonate Project and is widely recognised as a leading international expert in lithium downstream processing.
Terry Stark, as the former general manager of operations at Galaxy, oversaw both the Mt Cattlin and James Bay operations, fostering strong relationships with the Cree First Nations peoples involved in the Apollo Lithium Project.
Roger Pover brings extensive experience from his tenure at the Greenbushes mine and his role as the plant manager for the Mt Cattlin Operation. His understanding of the mining industry and expertise in plant management make him a valuable addition to the 'Lithium Dream Team'. Huy Nguyen, involved with Mintrex, contributed to the design and construction supervision of the Mt Cattlin Project.
Chairman Tan says the team possesses unparalleled knowledge and decades of experience in spodumene hard rock processing, as well as lithium carbonate and hydroxide production.
Swift development
He highlighted the importance of prioritising the swift development of profitable lithium projects rather than solely focusing on exploration, saying only a handful of companies possess the necessary expertise and ability to effectively develop and construct viable lithium projects.
Lithium Universe aims to establish a spodumene-producing mine in Québec, Canada, leveraging the team's rich pedigree of lithium experience.
With their comprehensive knowledge and operational experience in the lithium sector, Tan and his team are confident in their ability to replicate their past successes at Mt Cattlin with the Apollo Lithium Project.
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