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LITHEX LIMITED

ASX: LTX

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Lithex was incorporated on 30 October 2009 for the purpose of exploration on tenements it has secured the rights to acquire which are located within the Pilbara and Gascoyne regions of Western Australia.

Lithex tenements cover areas which contain the valuable transition metal minerals including tin, tantalum, niobium, alkali metals including lithium, potassium and with scope to define rare mineral lanthanides and actinides.

Lithex’s tenements near Marble Bar (Moolyella and Shaw River) cover areas which were mined extensively for tin with secondary tantalum and niobium for nearly 100 years. Operations ceased in the mid 1980’s due to the collapse in tin prices. Since mid 2000's tin prices have dramatically improved due to increased demand from China and Indonesia, new high-tech uses and constrained supply.

World tin production doubled 1990 levels in 2004/2005 (351,800t) and uses for tin broadened from solder, tin foil and plating for tin cans to modern applications which take advantage of its “superconductor” properties, such as in mobile phones. For example, tin when combined with niobium (a metal associated with tantalum and which exists on Lithex’s tenements) is used in wires for very light superconducting magnets. There are also a number of applications for tin in organotin compounds.

Therefore, tin is enjoying a revival and the price and the accessory rare metals and rare earth minerals market is strengthening in anticipation of expanding uses of these minerals in sophisticated electronics, batteries for hybrid cars and a range of highly prized exotic uses.

Lithex’s projects are well placed to move from exploration to development and to achieve an early cash flow which places the Company in a strong position to take advantage of the demand and high prices for these rare minerals.

In addition, to the west of Marble Bar Lithex has tenements located on rock units with potential to contain tin, tantalum, lithium and rare earth mineralisation and which are positioned in the Pilbara near the Wodgina tin/tantalum mine operated by Talison Minerals and Mt Cassiterite deposits and in the Gascoyne the Arthur River tantalum niobium mine operated by Tantalum Australia. There are modern opportunities for miners of tin, tantalum/niobium, lithium and rare earth minerals and the opportunity to revitalise an industry which closed down 25 years ago.

Lithex’s budgets presented with this prospectus capture the implementation of exploration and evaluation programs on these tenements which have not been explored thoroughly with modern techniques. The tenements have historically produced substantial quantities of tin and tantalum over many decades from large alluvial deposits, with the primary source yet to be discovered. Therefore, the Directors of Lithex believe its projects are exciting and have the scope to add shareholder value through strategically focused exploration.

Mine For

tin, tantalum, niobium, lithium, potassium, lanthanides, actinides, rare earth metals

Location of operation(s)

Western Australia

Address

75 King Street
Perth, 6000, WA, Australia

Phone

+61 (8) 9200 5885

Email

Website


Last Updated

25/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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