Kali Metals Limited (ASX:KM1) Reports Strong December Quarterly Activities
Exploration Progress and Financial Position
Kali Metals Limited (“Kali” or “the Company”) reported robust exploration activities and a strong cash position of $7.15 million as of December 30, 2024. During the quarter, the Company expanded its Earn-In Agreement with SQM Australia and undertook mapping and sampling programs at its projects in the Pilbara and New South Wales.
Joint Venture Developments
Kali amended its Joint Venture (JV) with SQM Australia by incorporating additional tenements. SQM will spend a minimum of $500,000 by December 15, 2025, to maintain a 30% interest in Kali’s DOM’s Hill and Pear Creek tenements. An additional commitment of $1 million brings the total to $4.25 million by December 2026 for SQM to earn a 50% interest in the expanded JV tenements. Kali retains 100% ownership of the Marble Bar Project, which has shown promising gold and lithium prospects.
Marble Bar Project Highlights
At the Marble Bar Project, mapping efforts identified a 5.1km gold-in-soil anomaly. Rock-chip samples yielded grades of up to 4.0g/t gold at the Sherman Gold Prospect. Significant lithium potential was also confirmed with results showing up to 1.5% Li2O in pegmatites.
Southern Lachlan Fold Belt Results
In New South Wales, Kali reported up to 8.0% SnO2 from rock-chip samples at the Jingellic Project. Continued exploration in the Sweetwater area will focus on further identifying tin-bearing greisen-pegmatites, with promising results anticipated in future reports.
Corporate Developments
John Leddy has resigned from his role as Non-Executive Director. The Company continues to focus on maintaining a strong cash position to support its exploration and operational goals while being debt-free.
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.