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Lithium Plus Minerals Ltd (ASX:LPM)

ALERT: Price-sensitive ASX Announcement for LPM
Current share price for LPM : $0.135 0.02 (17.39%)+
Announcement
Release
28 Jul 2026 6:00PM
Price at Release
$0.115
Full Release
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Summary
Lithium Plus Minerals Limited (ASX: LPM) announced an upgraded Mineral Resource Estimate at the Lei Deposit of their Bynoe Lithium Project, reporting a 34% increase in contained lithium with a new estimate of 5.22Mt at 1.50% Li2O. The company plans to commence fieldwork at the Bynoe Lithium Project, aiming for further resource growth. They closed the quarter with a cash balance of A$2.409 million after incurring A$558,000 in exploration expenses, supported by a successful A$2.15 million capital raise. Their strategy focuses on a low-capex Direct Shipping Ore operation to optimize quick cash flow and develop a lithium mine near Darwin, Northern Territory.
Key Points
  • Lithium Plus Minerals Limited reported a 34% increase in contained lithium at Lei Deposit, Bynoe Lithium Project.
  • Fieldwork is set to begin at the Bynoe Lithium Project to explore further resource growth opportunities.
  • The company ended the quarter with a cash balance of A$2.409 million.
  • Exploration and evaluation expenses amounted to A$558,000 for the quarter.
  • A successful capital raise of A$2.15 million was completed to support the development of the Bynoe Lithium Project.
  • The quarterly report outlined cash flow activities including operating, investing, and financing endeavors.
  • The company's strategy involves a low capex Direct Shipping Ore operation for quick cash flow.
  • Lithium Plus aims to develop a lithium mine near Darwin, Northern Territory, focusing on efficient resource extraction and processing.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.