Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Lithex Resources Gains Substantial Shareholder 0 comments
    Apr 18, 2013 2:50 AM

    Lithex Resources (ASX: LTX) has added new substantial shareholder Jason Peterson to its register with a 5% interest.

    Peterson recently acquired 4.7 million shares for a total consideration of A$214,855.

    Lithex is moving to more than double the size of its flagship Munglinup Graphite Project in Western Australia with the submission of an application for a fifth tenement exploration licence.

    The Munglinup Project is located along strike and contiguous with the eastern and southern sides of Graphite Australia's Munglinup Deposit, which is anticipated to be Western Australia's first commercial graphite mine.

    Pending approval by the Western Australia Department of Mines and Petroleum, the new exploration licence will add 200 square kilometres to the project, taking the total holding to 406 square kilometres.

    Increasing the prospectivity of the new exploration licence under application, the area contains the Young River Graphite Deposit - an area comprising known historical graphite occurrences and reported to be of similar geological style and quality to the Munglinup Graphite Deposit.

    Currently there is no defined Resource for the Young River Graphite Deposit. The Young River area is also prospective for nickel and vermiculite mineralisation.

    Lithex is planning an initial near-term field visit to undertake geological mapping and sampling of the known historical graphite occurrences and to determine their potential significance.

    The company held around A$2.5 million in cash at the end of December 2012.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor'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 (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


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.