Seeking Alpha

Sufiy's  Instablog

Sufiy
Send Message
Sufiy is a Seeking Alpha contributor.
My blog:
Sufiy
  • International Lithium Corp. Arranges Short Term Loan With TNR Gold ILC.v, TNR.v  1 comment
    Jul 23, 2012 7:25 AM | about stocks: TRRXF, MUX, GALXF, RDNAF, OROCF, LITHF, TLTHF, FMC, ROC, LIT, MCP, REE, F, TM, GM, NSANF, DOW, AONEQ, JCI, IBM, BASFY, FCX, RIO, BHP, TCK, SSNLF, TSLA, ZIP, VALE, BYDDY, POT, ALLRF, MOS, SOIL, IPI, NPTH, PPRTF

     

    International Lithium Corp 2012 Annual General Meeting Held, President Buys More Shares ILC.v, TNR.v

     

    International Lithium Year End Summary - President's Update ILC.v, TNR.v

    "International Lithium has demonstrated very impressive exploration success this year, our team is extremely pleased with the advance of our projects to date, resultantly I would like to provide a more comprehensive update to our shareholders" - Kirill Klip, President of ILC.

    MILESTONES:

    • Extensive 78 meter Mineralized Pegmatite with Extensive Lithium and Tantalum Zonation at Mavis Lake - Fairservice Lithium and Rare Metals Project, Ontario, Canada
    • High-Grade Lithium Boulder Field Discovery Significantly Extends Moylisha - Blackstairs Project, Ireland
    • Discovered Extensive Sand Layers Hosting Lithium - Boron and Highest Potash Grades in an Argentine Salar, - Mariana Brine Project, Argentina
    • Strengthened Strategic Partnership with Ganfeng Lithium"

    Prime Equity Research, LLC Initiates Research Coverage on International Lithium Corp. ILC.v, TNR.v

    International Lithium Corp.- Global Portfolio of Lithium Assets ILC.v, TNR.v

    TNR Gold Corp. Geophysics Commences And Drilling To Start At Shotgun Gold Project, Alaska TNR.v

     

    International Lithium Corp. Arranges Short Term Loan

    International Lithium Corp. ("ILC" or the "Company") (ILC: TSX-V) has arranged a short term unsecured five month bridge loan of $150,000. TNR Gold Corp., a significant shareholder of ILC, has agreed to lend the Company $150,000 at an interest rate of 20% per annum. A portion of the proceeds will be used to secure equipment necessary for this season's exploration program on the Mariana Lithium /potassium brine in Argentina. The company is currently in discussions with interested parties under confidentiality agreements with respect to its Mariana project and financing options. Further announcements will be made in the coming weeks as developments may progress.

    The loan is subject to regulatory approval.

    About International Lithium Corp.

    International Lithium Corp. is an exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.

    ILC currently has 9 active rare metals projects, well balanced between lithium-potash brines in Argentina, Nevada and hard-rock pegmatites in Canada and Ireland. The Company's primary focus is the Mariana lithium-potash brine project, a salar or 'salt lake', covering an expansive 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American 'Lithium Belt' centred on the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium-potash brine project ranks as one of the more prospective salars in the region.

    Complementing the Company's lithium brine projects are the rare metals pegmatite properties. The key characteristics shared by the hard-rock rare metals projects are their limited past exploration, excellent accessibility and limited assaying for rare metals. All of which imply a clear potential for additional exploration and development as well as added project value to meet the global technological growth in demand for the rare metals suite of elements.

    International Lithium Corp.'s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.

    On behalf of the Board of Directors,

    Kirill Klip
    President International Lithium Corp.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements."

    Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.

Back To Sufiy's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (1)
Track new comments
  • For the season a part of the proceedings will be utilized to secure the equipment on Mariana Lithium where a short term unsecured five month bridge loan have been arranged with the interest rate of 20% p.a. The approval of loan is the subject to authorization.
    paydayuk
    24 Dec 2012, 03:54 AM Reply Like
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.