Business
Audited Final Results for Year Ending 28 Feb 2023
Audited Final Results for Year Ending 28 Feb 2023.
About this update from Bradda Head Lithium Limited
[{"type":"text","content":"\n\n25 August 2023\nBradda Head Lithium Ltd\n(\"Bradda Head\", \"Bradda\", or the \"Company\")\nAudited Final Results for the financial year ending 28 February 2023\n \nBradda Head Lithium Ltd (AIM: BHL), the North America-focused lithium development group, is pleased to announce its audited financial results for the year ending 28 February 2023, and the Management's Discussion and Analysis for the same period.\n \nFinancial and operational highlights\n· Raised total gross proceeds of just under US$ 13 million, issuing 73,195,560 new ordinary shares to institutional and other investors;\n· Following the successful completion of a follow-up drill programme during October 2022, the Company updated its Basin East MRE, resulting in a 22% increase in LCE tonnes, for a total of 371kt of LCE;\n· Completed a maiden drill programme at our San Domingo pegmatite asset, with a total of 47 holes drilled. This was the first 'modern' drilling campaign at these historical targets since the 1950/60s;\n· Strengthened our on the ground team with the key appointment of Joey Wilkins as COO, who is a highly regarded geologist in the US arena with extensive experience and knowledge of US geology, specifically in Arizona and Nevada;\n· Completed a dual listing, with the Company's shares admitted to trading on the Canadian TSX-V Exchange under the ticker BHLI.TSXV.\n \nIan Stalker, Chairman of Bradda Head, commented:\n \n\"The financial year has been both busy and exciting, with the Company raising gross funds of just under US$ 13 million as part of a successful UK and North American placement in April 2022. The funds were strategically deployed to successfully fast-track our first drill programme at our San Domingo pegmatite resource in Arizona and complete our second Basin East drilling programme since listing in 2021. We now have 371kt of lithium carbonate equivalent, and an exploration target of between 1Mt to 6Mt of LCE over the Company's Basin projects. We also significantly increased our hard-rock lithium bearing landholding position in Arizona, and strengthened our team members with key senior appointments, including adding Joey Wilkins as CO...