Rodinia Lithium
Rodinia Lithium is a Canadian mineral exploration company with a primary focus on Lithium exploration and development in North and South America. The Company is positioned to capitalize on the explosive demand for lithium carbonate expected from the paradigm shift to mass adoption and use of key lithium applications (lithium-ion batteries, glass ceramics, greases, pharmaceuticals, etc.).
Rodinia Minerals appoints new director experienced in resource sector finance
Rodinia Minerals Inc (TSX-V: RM) has appointed an experienced investment professional, Mark Eaton, to the company's board of directors. Eaton replaces Donald Mosher who tendered his resignation and left Rodinia last month. The company said that Eaton will be instrumental in providing financial guidance as it continues its strategy of becoming a high-grade, low-cost producer of lithium carbonate in Nevada, USA and Argentina.
Eaton is a former managing director of CIBC’s Global Mining Sales division, and he was most recently a partner and director of Loewen Ondaatje McCutcheon Ltd, a Toronto-based investment dealer. Rodinia said the new director has over twenty years finance experience, specialising in the resource sector. In connection with his appointment, Eaton was granted 200,000 stock options, which can be exercised at $0.64 until February 3 2015, subject to regulatory approval. The options are also subject to a statutory four month hold period.
Rodinia is currently exploring its 100% owned, Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America. On its flagship Clayton Valley lithium property, a drilling program will test the extensive lithium-bearing aquifers. In December Rodinia said the aquifers in the Clayton Valley have many characteristics that place it among the best and most economical lithium bearing basins in the world.
The company has also been adding to its exploration footprint with acquisitions in South America. Most recently in January Rodinia acquired three lithium projects in Argentina from Rio Tinto (LSE, ASX: RIO) for US$2.9 million, plus certain future production royalties.
In December 2009, Rodinia agreed the acquisition of approximately 4,500 hectares of the Salinas Grandes salt flat (salar) in the Jujuy province of Argentina. Historic non-NI43-101 studies on the brine chemistry concluded lithium concentrations in excess of 400 parts per million with a reported magnesium-to-lithium ratio of 3.75. Results from sampling, during the thirty-day due diligence period, exceeded the historic studies averaging 440 ppm Li with a magnesium (Mg) to Li ratio of 1:4. The company is currently planning the exploration projects for its salar projects in Argentina.
Besides its lithium interests, Rodinia is exploring for uranium at several projects in Arizona and Utah.
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Other Rodinia Lithium articles
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22/07/10 Rodinia C$5 million Equity Finance to Advance Salar de Diablillos Lithium Project
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26/10/09 Rodinia Minerals is seeking to ride the wave of strong long term demand for lithium
Other Rodinia Lithium news
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22/07/10 Rodinia to raise at least C$5 mln for Argentine lithium brine projects
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17/06/10 Rodinia Minerals starts next exploration phase at Salar de Diablillos lithium project
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16/06/10 Rodinia Minerals name change to Rodinia Lithium approved by shareholders
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01/06/10 Rodinia Minerals promote William Randall to President and CEO
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26/05/10 Rodinia Minerals says drilling results from Diablillos lithium project confirm potential
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18/05/10 Rodinia Minerals completes secondary placing, total proceeds raised CDN$2 million
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28/04/10 Rodinia Minerals hires Farhad Abasov as new chairman
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20/04/10 Rodinia Minerals encouraged by Phase II results at Salar de Diablillos which exceed initial samples
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20/04/10 Rodinia Minerals completes 1st tranche of fundraising for lithium projects development
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04/03/10 Rodinia Minerals 'encouraged' by sample results from Clayton Valley lithium-brine project
