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Lithium Australia shareholders fully pay for more than 3.57 million LITCF shares, raising $178,596

The shareholders paid an amount of 4.99 cents for each LITCF for a total consideration of $178,596.

Lithium Australia NL -
Lithium Australia requests that ASX change the designation of 3,579,070 LITCF shares to the ASX code LIT.

Lithium Australia NL (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) has raised $178,596 after shareholders fully paid the balance on more than 3.579 million LITCF partly paid shares.

The shareholders paid 4.99 cents per share while a further 42 million shares have transitioned from LITCE partly paid shares to LITCF partly paid shares. These have been paid to $0.0101 with $0.0499 remaining unpaid.

More than 120.9 million LITCF shares remain on issue.

Statements will be issued shortly to those shareholders who paid all outstanding amounts on their LITCFs.

The company has requested that ASX change designation of these 3,579,070 LITCF shares to the ASX code LIT.

Field trial update

LIT and its 90%-owned subsidiary Envirostream Australia Pty Ltd’s field testing of fertiliser blends containing manganese micronutrients derived from spent alkaline batteries recycled by Envirostream have demonstrated successful uptake of these micronutrients in a field setting. 

The uptake of manganese from the micronutrients being trialled was in line with, or superior to, that for comparable, commercially available treatments.

This result demonstrates that wheat cultivation can benefit from the manganese in fertiliser blends containing the manganese recovered from spent alkaline batteries by Envirostream. 

Quick facts: Lithium Australia NL

Price: 0.13 AUD

ASX:LIT
Market: ASX
Market Cap: $116.63 m
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Lithium Australia's Envirostream boosting capacity for its battery recycling

Andrew Mackenzie, managing director of Lithium Australia NL (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) subsidiary Envirostream, discusses with Proactive's Andrew Scott the national stewardship scheme for managing end of life batteries and the potential impact it will have on the business as well as...

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