With a dream team assembled and assets ripe for development, Lithium Universe has got the heavy backing of new and existing investors and completed an oversubscribed public offer of $4.5 million, capping off a milestone of public trading on the Australian Stock Exchange.
Investors jumped on board to be part of a company with a quality portfolio of hard-rock lithium and rare earth opportunities in the tier-1 mining jurisdictions of Canada and Australia – and the right team to bring them to production.
Iggy Tan was one of the first miners to pay heed to the emergence of a lithium-ion battery sector and spearheaded Galaxy resources to success across the supply chain, rearing both a 137 thousand tpa spodumene project at Mt Cattlin and the downstream Jiangsu Lithium Carbonate project.
Now at the helm of Lithium Universe, Mr Tan’s new company is established with the Apollo Lithium Project as its flagship, covering 240 square kilometres on the doorstep of Patriot’s Corvette discovery in the heart of a firing James Bay lithium province.
Mr Tan said the team now focuses on deploying funds into the highly prospective Québec earth.
The team has spent many months completing due diligence and assessing these projects and is eager to scale up our exploration and development activities on the ground. My vision for LU7 is to establish ourselves as a prominent Lithium project builder by prioritizing swift and successful exploration and development of Lithium projects. Instead of exploring for the sake of exploration,” Mr Tan said.
Lithium dream team
The LU7 team has quite the collection of lithium experts, including Patrick Scallan, a seasoned lithium operator who successfully managed the Greenbushes Mine for 25 years and also claimed the services of Dr Jingyuan Liu, Terry Stark, Roger Pover, and Huy Nguyen, all of which held executive roles at Galaxy Resources.
Galaxy Resources was a sub-$10 million market cap fledgeling when Iggy Tan first arrived but was quickly transformed into a $2.5 billion powerhouse when it merged with Orocobre in 2021, a lithium success story he aims to replicate in a new frontier of exploration.
