Kali Metals: Why are mega-miners like Min Res and SQM hanging around this ASX junior?
Kali Metals Managing Director Paul Adams on 6PR Bulls N' Bears Report
Listen to ASX-listed Kali Metals Managing Director Paul Adams talk to Matt Birney on the Bulls N’ Bears Report about Kali’s multimillion-dollar WA farm in deal with one of the biggest lithium miners on the planet.
TO LISTEN TO THE KALI METALS AUDIO INTERVIEW - CLICK BELOW
Kali Metals listed on the ASX in January with mostly lithium exploration ground picked up from major shareholders Kalamazoo Resources and Karora Resources. It holds a massive land package in the prolific Coolgardie Norseman lithium region in addition to some well-located ground in the Pilbara’s well credentialled lithium region and the Lachlan Fold Belt in Victoria and NSW. Minerals Resources is also a major shareholder and lithium mega-miner SQM has committed to spend millions to farm into two of Kali’s Pilbara lithium leases.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought you today by lithium explorer, Kali Metals.
Matt Birney - ASX code: KM1
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Kali Metals, Paul Adams.
Matt Birney - Hi Paul.
Paul Adams - Hi Matt.
Matt Birney - Okay so Kali Metals listed on the ASX in January with mostly lithium exploration ground picked up from major shareholders Kalamazoo Resources and Karora Resources.
Matt Birney - The company holds a massive land package in the prolific Coolgardie Norseman lithium region in addition to some well-located ground in the Pilbara’s well credentialled lithium region and the Lachlan Fold Belt in Victoria and NSW. Minerals Resources is also a major shareholder and lithium mega-miner SQM has committed to spend millions to farm into two of Kali’s Pilbara lithium leases.
Matt Birney - All right Paul, SQM farming into your Doms Hill and Pear Creek projects, firstly who is SQM and what are they best known for?
Paul Adams - SQM are a multi-billion dollar lithium and chemical company based in Chile. They produce about 20 per cent of the world's lithium.
Matt Birney - So tell me what are the terms of this farm in deal with SQM? Who pays for what and who gets what?
Paul Adams - SQM have to spend a minimum of $500,000 to retain their existing 30 per cent in those projects at Doms Hill and more importantly they have to spend an additional $4.25 million by December 2026 to earn their 50 per cent interest.
Matt Birney - What does SQM see in these two projects? What are the best early signs that they might be mineralised with lithium?
Paul Adams - It's really real estate location. It's in a fantastic location. The work that we've done so far has been sort of early stage.
Paul Adams - We've done quite a lot of geochemistry and geophysics and pulling together the data sets that will enable us to see the prospectivity for lithium mineralisation across this pretty large tenement package now. So that's what we're working with SQM to go and find. We're working to find a world class deposit.
Matt Birney - Kali owns 100 per cent of the Marble Bar lithium and gold project also in the Pilbara, well you've just done some rock chip sampling up there, just quickly what were the best numbers?
Paul Adams - Yeah so at the Panther lithium project we've got lithium oxide up to 1.5 per cent which is well and truly up there in the realms of very interesting grades but for lithium, that's in a outcrop that's 15 to 20 meters wide so that's a fantastic outcome and in addition we've actually found a bit of gold up there and at $4,000 an ounce and we've got grades up to 3 grams a tonne there.
Matt Birney - Okay when do you think you get a drill hole into Marble Bar?
Paul Adams - Yeah good question, I think we're looking at next year. We've got a team going up there in the next few weeks to follow up on those results and we'll be releasing those to the market as soon as we can.
Matt Birney - And in terms of the SQM farm in for Doms Hill and Pear Creek, are you managing that or is SQM managing it and when do you think you'll get a drill hole into that project?
Paul Adams - Yeah they are drilling there most likely next year, we kind of manage that together but Kali's team actually do all the work there and SQM pay for everything.
Matt Birney - Paul Adams from Kali Metals.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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