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Desert Lion anticipates phased development of former Rubicon lithium mine

Desert Lion anticipates phased development of former Rubicon lithium mine

Desert Lion, which holds a 100% interest in the Desert Lion Energy Lithium Project said that since acquiring the project they have completed approximately 4,500 metres of diamond drilling to test the lateral and depth continuation of the Rubicon extensions and of satellite bodies immediately surrounding the historic mine site.

The past producing lithium mine as well as the surrounding 301 km2 prospecting area is located near Karibib in the Erongo Region. In a recent update, the company said intersections to date that have been explored cover depths from 1 to 9 metres, all with significant lithium mineralisation of about 2% on average.

The company said the Desert Lion team has established a three-phase development programme, which they anticipates will start with concentrate sales from the stockpiled material on site when the former mine was still operational. This they anticipate to materialise before the end of the year.

For the second phase, Desert Lion will focus on the development of a mine and concentrator where some mining will carried out as part of the pilot project allowed by the Exclusive Prospecting License from the Ministry of Mines and Energy.

The third phase is an optional lithium carbonate conversion plant, which the company said, tentatively they are considering Walvis Bay as the locality.

Earlier this week, the company said that they have also completed a non-brokered private placement of an aggregate of 4,343,636 units at a price of US$1.82 per unit for gross proceeds of almost US$8 million. Another placement planned at a later stage, will raise an additional US$5 million.

“We believe Desert Lion Energy will start trading by year-end 2017 at which time we plan to be able to announce that we are producing as part of the Phase 1 production, with the first shipment shortly thereafter. Further we will have completed a large portion of the current drill programme and expect very good results to share with the market,” the company stated.

Meanwhile, a fortnight ago Camex Energy Corp. and Desert Lion Energy Corp. announced that they entered into a definitive amalgamation agreement dated 12 October 2017, according to a globenewswire source, in preparation for a so-called reverse listing on the Toronto Stock Exchange.

The agreement will see Camex acquire all of the issued and outstanding ordinary shares of Desert Lion in exchange for securities of Camex. The transaction will further be carried out by way of a three-cornered amalgamation. As a result, Camex will continue the business of Desert Lion under the name “Desert Lion Energy Inc.”

Desert Lion said it is focused on providing a long term sustainable solution for the low-cost supply of high quality lithium chemicals. The brownfield lithium mines of Rubicon, Helikon and Mircolite were first discovered in the 1930s and have a long history of lithium mining operations.


 

 

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Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.