Alix Resources Corp.

Published : May 18th, 2016

Call on partly paid shares LITCC

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Keywords :   Australia | G Mexico | Georgia | Lithium | Market | Mexico | Swift | Tantalum |

Call on partly paid shares LITCC

Richmond Letterhead

17 May 2016

6051 LIT SRN SHAREHOLDER NAME

SHAREHOLDER ADDRESS

SHAREHOLDER ADDRESS

FREMANTLE WA 6959

Sub-Register

ISSUER

HIN/SRN

2000XXXXXX

Number Of Partly Paid Shares Held

XXXXX

Amount Payable At $0.02 Per Share

$XXX.XX

Dear Shareholder,

NOTIFICATION OF CALL ON PARTLY PAID SHARES

Lithium Australia NL (Company) is seeking to raise at least $3,277.25 by way of a call of $0.02 per share on the quoted partly paid shares (Call). Call amounts are due and payable by 31 May 2016.

Forfeiture of Shares Resulting from Non-Payment of the Call

In the event of non-payment by that time and at that place the shares on which the Call is made, the shares may be forfeited or sold without forfeiture to enforce any lien of the Company over them as the Directors determine. Forfeited shares may be offered for sale by public auction within six (6) weeks after the Call becomes payable. The Company will give notice of any public auction in accordance with the Companies Act 2001 and the ASX Listing Rules.

Indicative Timetable

Event

Date

Company announces call date and amount

17 May 2016

The later of:

  • The Company sending call notices to all holders on whom the call is made.

  • The Company notifying ASX of extension of call date (if required)

17 May 2016

Last day for trading partly paid call unpaid shares

30 May 2016

Call due and payable - deferred settlement commences (LITCC paid up to $0.021)

31 May 2016

Last day for Company to accept transfers of partly paid shares call unpaid

3 June 2016

+Issue date. Last day to enter the call paid on the +securities into the register

10 June 2016

Please note that the timetable is subject to change. The Company reserves the right to vary the timetable for the Call without notice, subject to the Corporations Act, ASX Listing Rules and other applicable laws.

Methods of Payment

NOTE: Cheques should be made payable to "Lithium Australia NL", crossed "NOT NEGOTIABLE" and forwarded to the Company to arrive no later than 5.00pm (AEST) on 10 June 2016.

Bank details are listed below for electronic transfers. Bank: National Australia Bank BIC / Swift Code: NATAAU3303M

Account Name: Lithium Australia NL Application Account

BSB No: 086-006

Account no.: 94-706-7769

Beneficiary Details: Lithium Australia NL Suite 3, 23 Belgravia St, Belmont, WA 6104

Share Price Information

In accordance with the requirements of paragraph 4.1 of Appendix 6A of the ASX Listing Rules, the Company provides the following information:

Details

Date

Share Price

Market price of fully paid ordinary shares (LIT) in the Company (being the last trading day prior to the date of this notice)

17 May 2016

$0.25

Market price of partly paid ordinary shares (LITCC) in the Company (being the last trading day prior to the date of this notice)

17 May 2016

$0.25

During the three months immediately preceding the date of this notice, the highest market price of fully paid ordinary shares (LIT) in the Company

20 April 2016

$0.38

During the three months immediately preceding the date of this notice, the highest market price of partly paid ordinary shares (LITCC) in the Company

22 April 2016

$0.26

During the three months immediately preceding the date of this notice, the lowest market price of fully paid ordinary shares (LIT) in the Company

18 February 2016

$0.13

During the three months immediately preceding the date of this notice, the lowest market price of partly paid ordinary shares (LITCC) in the Company

15 February 2016

to

22 February 2016

$0.10

Financial Information

In accordance with the requirements of paragraph 4.1 of Appendix 6A of the listing rules, the Company provides the following information:

  1. The amount spent on exploration and administration since the date of the last audited financial statements, being 30 June 2016, is $349,000; and

  2. The Company intends to use the funds to advance exploration on its lithium project interests as listed below, costs of the issue and additional working capital.

Geological Information

Pilbara - The Pilgangoora Lithium Hotspot

The Pilbara region, where LIT has MoU's with Pilbara Minerals Limited (ASX: PLS) and Venus Metals Corporation Limited (ASX: VMC) is likely to produce a range of lithium minerals in the future. This will include low-grade spodumene, micas, and clays, which in the past may have been sub economic. All of these materials can be processed with the Sileach™ process. The broader objective of the partnerships is to determine if the potential exists for sufficient feedstock to feed a Pilbara lithium processing facility.

Electra JV (Sonora, Mexico)

The Electra project is a farmin and JV in which LIT can earn up to 65% of the project from its partner, TSX Venture listed Alix Resources Corporation (TSX-V: AIX) (Alix). The Sileach™ process, together with other processes will be tested on this project when materials are available.

Lepidolite Hill (Western Australia)

Lepidolite Hill is part of the Coolgardie Rare Metals Venture (LIT 80% and Focus Minerals [ASX: FML] 20%) and has been the subject of intensive metallurgical testing by LIT. The Sileach™ process is currently being evaluated on material from this deposit in anticipation of much improved leach times, potentially providing for reduced plant size and capital costs for deposits of this type.

Greenbushes (LIT 80%)

In October 2015, the Company applied for several exploration licences in and around Greenbushes from where approximately 40% of world supply of lithium is sourced. This area covers a 50km structural trend which is highly prospective for lithium pegmatites. Subsequent to March 2016 Quarter end, LIT advised ASX that the first exploration licence had been granted and exploration work commenced.

The area covered by E70/4778 is very prospective for lithium mineralization, as are the other LIT application areas, within which numerous pegmatites have been identified.

Ravensthorpe (LIT 100%)

LIT holds exploration licence E74/0543 with an area of 70km2 and covering a 20km long structural trend which is highly prospective for lithium pegmatites. The corridor extends southwest from the Mt Cattlin lithium and tantalum hard rock operations of Galaxy Resources Limited and General Mining which are currently being commissioned. The project is well supported by established transport routes, nearby infrastructure and services at Ravensthorpe. The large, deep water port of Esperance is 185km east of Ravensthorpe.

Recent fieldwork at LIT's Ravensthorpe Lithium Project has resulted in the discovery of several additional lithium pegmatites. It is now established that there are at least 12 lithium pegmatites present giving the project significant economic potential.

It is proposed that the funds raised will be used to continue exploration and to conduct a pilot plant test in regard to its Sileach™ process currently estimated at $1,000,000 in the short term.

Directors' Disclosure

The Directors of the Company do not hold any LITCC.

If you have any questions about the Call that are not answered by the ASX releases, you should consult your accountant, stockbroker, lawyer or other professional adviser before deciding to invest.

Yours faithfully "Adrian Griffin"

Adrian Griffin Managing Director Lithium Australia NL

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Australia | Georgia | Mexico | All
Gold and Silver Prices for these countries : Australia | Georgia | Mexico | All

Alix Resources Corp.

EXPLORATION STAGE
CODE : AIX.V
ISIN : CA01642R2019
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Contact Cpy

Alix Res. is a exploration company based in Canada.

Its main exploration properties are DIVIDE and KAMISHAK in USA and WHITE GOLD, RED DEER LAKE, SASKASHEWAN and ARCADIA in Canada.

Alix Res. is listed in Canada. Its market capitalisation is CA$ 19.5 millions as of today (US$ 15.3 millions, € 13.0 millions).

Its stock quote reached its highest recent level on March 11, 2011 at CA$ 3.00, and its lowest recent point on October 27, 2017 at CA$ 0.03.

Alix Res. has 72 170 000 shares outstanding.

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Financings of Alix Resources Corp.
4/27/2011Announces Closing of Over-Subscribed Private Placement
Project news of Alix Resources Corp.
7/20/2011CARIBOU AND ALIX INCREASE LAND POSITION AROUND WELLGREEN PRO...
5/29/2008(Arcadia) to Begin Drilling at Arcadia Property
Corporate news of Alix Resources Corp.
7/28/2016INITIAL SAMPLE RESULTS ON THE PREISSAC - LA CORNE PROPERTIES...
7/6/2016ALIX COMPLETES SAMPLING PROGRAM ON NEWLY ACQUIRED LITHIUM PR...
7/5/2016ALIX APPOINTS DR. MICHEL BOILY TO ITS BOARD OF DIRECTORS
6/30/2016ALIX IDENTIFIES LITHIUM-BEARING, CLAY-RICH SEDIMENATRY ASSEM...
6/9/2016ALIX TO COMMENCE SAMPLING PROGRAM ON NEWLY ACQUIRED LITHIUM ...
6/5/2016Test News Release
5/18/2016Call on partly paid shares LITCC
4/21/2016ALIX SET OPTIONS
4/15/2016ALIX CLOSES PRIVATE PLACEMENT
4/15/2016ALIX ACQUIRES FISH LAKE LITHIUM BRINE PROPERTY
1/22/2016ALIX APPOINTS DR. MICHEL BOILY TO ADVISORY BOARD
11/4/2015Alix to Commence Work on Newly Acquired Project Adjoining Ba...
11/4/2015ALIX ACQUIRES 22,625 HECTARES ADJOINING BACANORA'S "SONORA L...
10/28/2015Alix Acquires 22,625 Hectares Adjoining Bacanora's "Sonora L...
7/8/2015MOVES-AlixPartners appoints Kathryn Koorenny general counsel
10/6/2014Alix Encounters Promising Gold and Copper Values at Sheslay ...
10/22/2013Locates Operating Mill for Testing Bulk Samples From Its San...
3/20/2013High Grade Golden Granite Project Moving Forward
2/19/2013Reports Positive Assays for First Phase of Sampling at Golde...
1/29/2013Completes First Phase of Sampling and Mapping at Golden Gran...
1/16/2013Signs Definitive Agreement for Santa Maria Mine, Site Visit ...
1/8/2013Stakes Additional Land at Golden Granite, Yavapai County, Ar...
11/5/2012Acquires Golden Granite Gold Property, Yavapai County, Arizo...
9/27/2012Review of Cache Gold Property, Nunavut Demonstrates Signific...
9/18/2012Receives Positive Drill Results for the Money Rock / West Po...
7/11/2011Mobilizes Drill to Golden Zone Property, Alaska, for 2011 Pr...
6/14/2011Initiates 2011 Work at Golden Zone Property, Alaska
6/6/2011Caribou Commences Mobilization and Work Programs on Yukon Go...
3/3/2011Signs Drill Contract for 2011 Work at the Golden Zone Proper...
1/31/2011Acquires Yukon Gold, Silver and Base Metal Properties From S...
2/12/2009AND GEO SECURE DRILL PERMITS ON MANITOBA COAL PROPERTY AND A...
11/6/2008and Geo Announce Agreement With NuCoal Energy Corp. For Pros...
7/29/2008ANNOUNCES THE COMPLETION OF FIELD PROGRAM AT FOG LAKE PROSPE...
7/22/2008GEO AND ALIX RESOURCES ANNOUNCE HISTORICAL POTASH HOLE PLUS ...
6/25/2008 gets priority on Saskatchewan coal permits
6/13/2008And Geo Minerals buys potash rights in Saskatchewan
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