Double dose of good news for Lithium Australia

By Trevor Hoey. Published at Feb 27, 2017, in Mining

Two important developments on Friday and Monday have resulted in Lithium Australia’s (ASX:LIT) share price surging approximately 14% when markets opened this morning.

Friday’s news could have gone unnoticed because it related to the first day’s trading in MetalsTech (ASX: MTC), an IPO which raised approximately $4.3 million at a price of 20 cents per share.

MTC closed at 27 cents on Friday, representing a premium of 35% to the IPO price.

It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.

At listing date LIT held 2 million shares in MTC, as well as an existing agreement which provides significant equity and technology leverage across six highly prospective hard rock lithium projects in Québec.

The other important development that emerged on Monday was an advice by LIT Managing Director, Adrian Griffin, that litigation with Lepidico (ASX: LPD) subsidiary, Li-Technology Pty Ltd had been settled by mutual agreement.

Commercial details of the settlement are confidential, however Griffin stressed that the three registered L-Max licence agreements LIT has with Li-Technology remain valid and enforceable, being the exclusive L-Max licence for Western Australia, International Licence No.1 and International licence No.2.

Importantly, Lepidico has agreed that the 100% Lithium Australia owned proprietary Sileach process is not an improvement, enhancement or modification of the registered L-Max process.

In response to these developments, Griffin said, “Clearly the win removes distractions and paves the way for commercialising the Sileach process without legal impediment”.

This also represents a positive outcome for MTC as it holds a Sileach licence for operation in Québec.

Pilbara Minerals (ASX: PLS) is also a beneficiary as it has an agreement to work with LIT to commercialise Sileach for use on spodumene concentrates from its Pilgangoora project.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!