Xantippe Resources Ltd (ASX:XTC, OTC:XTCPF) has extended its share purchase plan closing date to Friday, February 10.
Back in December, the lithium and gold explorer announced it was out to raise A$20 million to support exploration across its Argentinian and West Australian projects.
The funding runway included an A$12 million placement and an A$8 million share purchase plan, giving existing shareholders the chance to subscribe for up to A$30,000 worth of XTC shares.
Ultimately, today’s extension gives investors extra time to consider the offer and submit their application.
The updated timetable is outlined below:
About Xantippe
Xantippe is pursuing lithium opportunities in the heart of South America’s Lithium Triangle.
Central to its vision is the flagship Carachi Project — a lithium brine hub that’s surrounded by industry heavyweights like Lake Resources NL (ASX:LKE, OTCQB:LLKKF).
At its core, the company’s mission is simple: Xantippe wants to produce sustainable, high-purity, battery-grade lithium, leveraging new technology and local partnerships to get its product to market.
At the start of this year, Xantippe closed in on a lithium-bearing brine zone during a geophysical survey.
This buried salar deposit is open at depth and in all directions laterally, meaning it bears promise as an emerging exploration target.
At the time, Xantippe executive chair John Featherby said the finding propelled the company forward “with great confidence” ahead of its maiden drill program.
"The aim is to use this drilling to provide an initial JORC-compliant mineral resource estimate,” he explained.
Beyond Carachi, Xantippe is also pursuing precious metal opportunities down under.
In 2018, the company acquired a substantial foothold in WA’s Southern Cross region, where it holds roughly 190 square kilometres of ground prospective for gold and lithium-bearing pegmatites.
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