Liberty One Lithium (LBY.V) has taken advantage of its strong share price (which has quintupled this year and almost tripled since our first report in August, before settling down at a slightly lower price) to top up its treasury. It has engaged Mackie Research Capital as a lead agent for a C$5M best efforts capital raise.
The units for this offering will be priced at C$1.20 with each unit consisting of a common share and a full warrant, entitling the warrant owner to purchase an additional share of Liberty One at C$1.50 for a period of 24 months.
Liberty One has been drilling at the Pocitos West project and we expect to see some preliminary exploration results before the end of this year. All spot lights have recently been on Millennial Lithium (ML.V) which announced an impressive maiden lithium resource and secured a Chinese partner, confirming the overseas interest in Argentinean lithium salars and LBY’s exploration results will be closely watched.