St George Mining raises $8 million this quarter to advance lithium exploration
November 16, 2023 at 12:31 pm EST
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St George Mining Ltd (ASX:SGQ) chairman John Prineas speaks with Proactive soon after announcing the company received a further vote of confidence in its critical minerals strategy with leading global battery materials player Shanghai Jayson New Energy Materials Co., Ltd making a further $3 million investment. This investment follows significant recent interest in St George from major operators in the battery and critical metals sectors including ATL’s $3 million equity investment in the company’s Lithium Star subsidiary. SGX also received commitments for a $2 million placement of new shares to domestic and international investors to further boost the company’s cash balance by $8 million this quarter.
“St George is delighted at this additional investment – a clear demonstration of Jayson’s faith in the potential of the company’s lithium projects that builds on its initial investment in St George a year ago," he said. "We welcome Jayson as St George’s largest shareholder as we work together to accelerate the development of the company’s critical minerals business."
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Proactive Investors
Jonathan Jackson
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Jonathan@proactiveinvestors.com
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St George Mining Limited is an Australia-based mining exploration company. The Company's projects include Mt Alexander Project, Paterson Project, Broadview Project, Lithium Star-WA Projects, Woolgangie Project, and Ajana Project. The Mt Alexander Project is located approximately 120 kilometers (km) south-southwest of the AgnewWiluna Belt, which hosts various nickel deposits. The project comprises six granted exploration licenses, such as E29/638, E29/548, E29/962, E29/954, E29/972, and E29/1041, which are a contiguous package. The seventh granted exploration license, E29/1093 is located to the southeast of the core tenement package. Its Paterson Project is an early-stage project with exploration upside. The Broadview Project is in Western Australia's Wheatbelt, approximately 150 km east of Perth. The project comprises two exploration licenses covering an area of about 250 square kilometers. The Company owns about seven hard-rock lithium projects in Western Australia.