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- Battery Age Minerals (BM8) outlines its upcoming exploration plans in its March quarterly as reporting season reaches its peak
- The junior explorer hit the ground running at its Falcon Lake project in Ontario, Canada, after re-listing on the ASX via a $6.5 million public offering
- The company had around $4.5 million in the bank at the end of March, which it plans to commit to exploration and drilling work over the rest of the year
- While Falcon Lake remains BM8’s primary focus, the company will also complete work on its three other “premium” assets: the Bloom Lake, King Tut, and Bleiberg projects
- Shares in Battery Age Minerals closed 4.29 per cent lower to 33.5 cents on Thursday afternoon
Battery Age Minerals (BM8) has outlined its 2023 exploration plans in its March quarterly as reporting season reaches its peak.
The junior explorer re-listed on the ASX in February with a $6.5 million public offering and immediately hit the ground running at its Falcon Lake lithium project in Ontario, conducting site visits in the area and landing a drilling permit for its maiden program at the project.
This came alongside an expansion of BM8’s management team and the establishment of a Canadian office to take on the “rapid” exploration of Falcon Lake. During the March quarter, Nigel Broomham joined the company as General Manager of Exploration, bringing with him more than a decade of experience in the battery metals sector.
BM8 in early March signed on Rodren Drilling to conduct a maiden drilling program at Falcon Lake.
The company committed $1.6 million to operating and exploration work over the March quarter, meaning it had $4.5 million still in the bank at the end of March to keep moving forward with its drilling plans.
While BM8 plans to put the bulk of this funding toward Falcon Lake, the company plans to commit around $1.3 million in 2023 to exploration work across its three other secondary projects: Bloom Lake, also in Canada; King Tut, in Argentina; and Bleiberg, in Austria, in which BM8 is currently working to earn an 80 per cent interest.
The company said each of these was a “premium” asset in a tier-one location.
Shares in Battery Age Minerals closed 4.29 per cent lower to 33.5 cents on Thursday afternoon.
