RLL
Lead Manager
Offer Price
A$0.0040
per share
Offer Size
A$946,140
Issue Price (Per Share)
A$0.0040
Offer Size
A$946,140
Shares Available
236,534,995
Rapid Lithium is proposing an equity raising (the “Offer”) to raise up to ~$946,140 (236,534,995 shares) through an:
Investors will receive 1.5 free attaching listed options for every 1 new share subscribed under the offer (pending ASX approval) exercisable at $0.017 and expiring on 23 October 2027 (“Attaching Option”). The attaching options are to be listed on ASX subject to satisfying ASX listing rules.
Lead Manager: GBA Capital
Rapid Lithium (formerly Armada Metals) is an Australian-listed lithium exploration and development company focused on advancing high-grade hard-rock lithium projects within the USA’s premier spodumene-producing district in South Dakota.
Through its recent acquisitions of Midwest Lithium and New Energy Inc., a subsidiary of Patriot Lithium, Rapid Lithium has secured significant interests in strategic land holdings, including the Keystone and Tinton West Projects. These projects span over 23,000 acres in the Black Hills region, known for hosting some of the world’s largest lithium-bearing pegmatites.
With a drill-ready portfolio and robust infrastructure, Rapid Lithium is poised to deliver on its commitment to meeting global demand for sustainable energy resources. By fostering local partnerships and adhering to responsible exploration practices, Rapid Lithium aims to support the transition to a cleaner, lithium-powered future.
Rapid Lithium has signed a binding agreement to acquire the Prophet River Ga-Ge Project in British Columbia, Canada. The acquisition includes mineral claims targeting the exploration and development of zinc, germanium, and gallium, covering 2,110 hectares (21 km2) around the historic Cay Mine. Previous exploration at Prophet River includes 21 drill holes, with bulk samples grading up to 22.69% Zn, 40 g/t Ga, 1,500 g/t Ge, and 0.36% Pb. Notably, Prophet River has reported some of the highest germanium values recorded globally, reinforcing its strategic significance.
The flagship Midwest Lithium Project spans ~23,000 acres of federal and private land –characterised by spodumene-bearing pegmatites. Historically, the region produced over 74,000 tonnes of spodumene concentrate at 6% Li2O using proven methods like DMS and flotation. Overall, the region hosts over 24,000 pegmatite bodies with some of the largest spodumene crystals in the world, with multiple outcropping pegmatites ready for exploration.
Key Assets in Midwest Project:
Note: the Company is in the process of renegotiating the payment and consideration terms associated with the acquisition of the Mateen and Ingersoll Projects and any future exploration on these assets is subject to reaching such agreement. In the event agreement is not reached, exploration will focus on other projects within the Company’s US asset portfolio.
The funds raised will be focused towards:
Chairman
Rick is a lawyer with over 30 years’ experience in both corporate and commercial law practicing exclusively in the resource sector. He has worked both as a Director and adviser to numerous resource companies and has extensive project planning, acquisition and development, capital raising and corporate governance skills.
Rick is the Non-Executive Chairman of Greenwing Resources Limited and a Non-Executive Director of Laneway Resources Limited.
Managing Director
Martin is a mining executive with over 15 years of corporate experience. Mr Holland is founder and Executive Chairman of Cobre. (ASX: CBE).
In addition Mr. Holland is the Managing Director of Rapid Lithium Limited (ASX: RLL) and the founder and former CEO of Lithium Power International (ASX: LPI).
Mr. Holland has listed five ASX-listed exploration companies and has been an executive director in multiple companies that have collectively raised over A$200M+ for exploration, focusing on new future metals discoveries.
COO & Executive Director
Mike is an accomplished mining executive having covered a number of GM, COO and CEO roles in multiple American mining companies.
He has a strong operational background having been in charge of exploration, of SK-1300 Resources and Reserves, permitting, surface and underground mining, milling, and reclamation.
He is an instructor at the South Dakota School of Mines covering Mining Engineering and Management.
He holds a BSc (Mining Engineering) Missouri University of Science and Technology and MBA East Carolina University.
Non-Executive Director
Michael is the CEO of Strata Investment Holdings plc, an ASX (SRT) listed natural resources investing company. Michael has been at the helm of Strata since 2016 and oversaw the company’s monetisation of its minority joint venture interest in MOD resources. This resulted in over A$40m of new shares in Sandfire Resources Limited (ASX:SFR) as well as a 2% NSR over 8,000km² of the Kalahari Copperbelt.
Michael is an experienced corporate financier having previously worked at Arden Partners (AIM:ARDN) and Allenby Capital in London.
Non-Executive Director
Dan has a strong background in finance having previously worked in the broking industry.
13 years’ primary and secondary capital markets expertise, advised on and been involved in a number of IPOs, RTOs and capital raisings on the ASX and NSX.
Dan’s focus is on commercial due diligence and transaction structuring as well as ongoing investor and stakeholder engagement.
Disclaimer
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