REG - Bradda Head Lithium - Update on filing of TSX-V audited accounts

Bradda Head LithiumAnnouncement

27/07/2023 15:00

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RNS Number : 4566H  Bradda Head Lithium Ltd  27 July 2023

27 July 2023

Bradda Head Lithium Ltd

("Bradda Head", "Bradda", "BHL" or the "Company")

Canadian Regulatory Announcement: Update on filing of TSX-V audited accounts

Vancouver, British Columbia - (July 27, 2023) - Bradda Head Lithium Limited
(AIM:BHL, TSXV:BHLI, OTCQB:BHLIF), the North America-focused lithium
development company, has today published a regulatory announcement on the
TSX-V as required by the British Columbia Securities Commission which is set
out in an Appendix below.

The requirement is for the Company to provide an update on the expected timing
for release of its audited accounts and as announced previously, the Company
continues to expect these to be published on or before 28 August, 2023.

For further information please visit the Company's website:
www.braddaheadltd.com (http://www.braddaheadltd.com) .

For further information, please contact:

 

 Bradda Head Lithium Limited        +44 (0) 1624 639 396
 Charles FitzRoy, CEO

 Denham Eke, Finance Director

 Beaumont Cornish (Nomad)           +44 20 7628 3396

 James Biddle/Roland Cornish

 Panmure Gordon (Joint Broker)      +44 20 7886 2500
 John Prior

 Hugh Rich

 Shard Capital (Joint Broker)       +44 207 186 9927
 Damon Heath

 Isabella Pierre

 Red Cloud (North American Broker)  +1 416 803 3562
 Joe Fars

 Tavistock (PR)                     + 44 20 7920 3150
 Nick Elwes                         braddahead@tavistock.co.uk

 Adam Baynes

 

 

About Bradda Head Lithium Ltd.

Bradda Head Lithium Ltd. is a North America-focused lithium development group.
The Company currently has interests in a variety of projects, the most
advanced of which are in Central and Western Arizona: The Basin Project (Basin
East Project, and the Basin West Project) and the Wikieup Project.

 

The Basin East Project has an Indicated Mineral Resource of 21.2 Mt at an
average grade of 891 ppm Li and 3.5% K for a total of 100 kt LCE and an
Inferred Mineral Resource of 73.3 Mt at an average grade of 694 ppm Li and
3.2% K for a total of 271 kt LCE. In the rest of the Basin Project SRK has
estimated an Exploration Target of between 300 to 1,300 Mt of material
grading between 600 to 850 ppm Li which is equivalent to a range of between
1 to 6 Mt LCE. The Group intends to continue to develop its three phase one
projects in Arizona, whilst endeavouring to unlock value at its other
prospective pegmatite and brine assets in Arizona, Nevada, and Pennsylvania.
All of Bradda Head's licences are held on a 100% equity basis and are in close
proximity to the required infrastructure.

 

The Mineral Resource statement for the Basin Project was authored by Martin
Pittuck, CEng, MIMMM, FGS who works for SRK Consulting (UK) Ltd, an
independent mining consultancy. Mr. Pittuck has over 25 years' experience
undertaking and reviewing Mineral Resource estimates and has worked on lithium
clay estimates for over 5 years. Mr. Pittuck consents to the inclusion of the
technical information in this press release and context in which they appear.
Reference is made to the report entitled "Independent technical report on the
Basin and Wikieup Lithium clay projects, Arizona, USA" dated October 18, 2022
with an effective date of June 10, 2022 was prepared by Martin Pittuck, CEng,
MIMMM, FGS, and Kirsty Reynolds MSci, PhD, FGS and reviewed by Nick Fox MSc,
ACA, MIMMM. The Report is available for review on SEDAR (www.sedar.com) and
the Company's website www.braddaheadltd.com (http://www.braddaheadltd.com) .

 

Bradda Head is quoted on the AIM of the London Stock Exchange with the ticker
of BHL, on the TSX Ventures exchange with a ticker of BHLI, and on the US
OTCQB market with a ticker of BHLIF.

 

Appendix

Vancouver, British Columbia - (July 27, 2023) - Bradda Head Lithium Limited
(AIM:BHL, TSXV:BHLI, OTCQB:BHLIF), the North America-focused lithium
development company, is required by the British Columbia Securities Commission
and National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") to
provide an update on the progress of the audit of its TSX-V financial
statements for the year ended 28 February 2023 every two weeks until these
financial statements are filed.

The Company reports that the audit is advancing well and will provide a
further update on the status of the required filings on or about 10 August,
2023. The Company currently expects to complete the audit and required filings
on or before 28 August, 2023 and will issue an update announcing the
conclusion of the filings at such time. Further updates on timing will be
provided by the Company as necessary.

As a result of the late filing the audited annual financial statements and
required filings, the Company will not be in a position to file its interim
financial statements (and related filings) for the first quarter ended 31 May
2023, before the prescribed deadline of July 31, 2023.  The Company intends
to file these financial statements within five business days following the
date of publication of its annual financial statements, i.e., on or before 4
September 2023.

As required by the alternative information guidelines specified by NP 12-203,
the Company reports (i) that there are no changes to the information contained
in the default announcement dated 29 June, 2023 that would reasonably be
expected to be material to an investor; (ii) there has been no failure by the
Company in fulfilling its stated intentions with respect to satisfying the
provisions of the alternative information guidelines set out in NP 12-203;
(iii) there has not been any other specified default by the Company under NP
12-203; and (iv) there is no other material information concerning the affairs
of the Company that has not been generally disclosed.

During the Management Cease Trade Order, investors will continue to be able to
trade in the Company's listed common shares on London AIM and the TSV-X. Only
the Company's Chief Executive Officer and Chief Financial Officer will not be
able to trade.

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This News Release
includes certain "forward-looking statements" which are not comprised of
historical facts. Forward-looking statements include estimates and statements
that describe the Company's future plans, objectives or goals, including words
to the effect that the Company or management expects a stated condition or
result to occur. Forward-looking statements may be identified by such terms as
"believes", "anticipates", "intends to", "expects", "estimates", "may",
"could", "would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although these
statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management's
expectations. Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Forward looking information in
this news release includes, but is not limited to, following: The Company's
objectives, goals or future plans. Factors that could cause actual results to
differ materially from such forward-looking information include, but are not
limited to: failure to identify mineral resources; failure to convert
estimated mineral resources to reserves; delays in obtaining or failures to
obtain required regulatory, governmental, environmental or other project
approvals; political risks; future operating and capital costs, timelines,
permit timelines, the market and future price of and demand for lithium, and
the ongoing ability to work cooperatively with stakeholders, including the
local levels of government; uncertainties relating to the availability and
costs of financing needed in the future; changes in equity markets, inflation,
changes in exchange rates, fluctuations in commodity prices; delays in the
development of projects, capital and operating costs varying significantly
from estimates; an inability to predict and counteract the effects of COVID-19
on the business of the Company, including but not limited to the effects of
COVID-19 on the price of commodities, capital market conditions, restriction
on labour and international travel and supply chains; and the other risks
involved in the mineral exploration and development industry, and those risks
set out in the Company's public documents filed on SEDAR. Although the Company
believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that such events
will occur in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, other than
as required by law.

 

 

 

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