--News Direct--
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) executive chairman Ian Stalker speaks to Thomas Warner from Proactive London following the conclusion of the exploration company's annual general meeting.
Stalker says that despite challenging financial conditions, the AGM was well attended and characterised by strong support for all resolutions, reflecting a high level of confidence in the management. Focusing on survival and efficient spending, the company has streamlined operations and reduced overheads, ensuring the longevity of its financial resources.
Stalker goes on to discuss some impressive recent metallurgical test results from the company's San Domingo project in Arizona. He suggests that the project is particularly noteworthy, given the increasing demand for domestic lithium production in the U.S. for electric vehicle batteries.
Bradda Head's Basin Project is also discussed, and Stalker says the company is currently holding 1 million tonnes of lithium carbonate equivalent. The goal is to increase this to 2.5 million tonnes, with a prospective additional funding of $3 million from a lithium royalty agreement. This expansion aligns with the company's strategy to enhance shareholder value without needing additional capital at depressed market prices. Stalker also suggests that he fully intends to step aside once Bradda Head has completed its search for a new CEO.
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