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ION Energy is poised to be a player in Asia’s booming lithium market with its expanding Mongolia projects

Last updated: 10:04 14 Mar 2024 EDT, First published: 06:45 28 Oct 2020 EDT

Snapshot

  • Lithium ION Energy announces debt settlements; grant of stock options
  • ION Energy gets repeat ‘Buy’ rating with increased price target from Couloir Capital
  • Ion Energy adds to portfolio acquiring new Lithium projects in NWT, Canada
ION Energy Ltd. - ION Energy is poised to be a player in Asia’s booming lithium market with its promising Mongolia project

About the company

ION Energy Ltd. is committed to exploring and developing Mongolia’s lithium salars. The company’s flagship, 81,000-plus hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION Energy also holds the 19,000-plus hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. Thhe company is well-poised to be a key player in the clean energy revolution, positioned well to service the world’s increased demand for lithium.

How it is doing

14 Mar 2024

Lithium ION Energy Ltd. (TSX-V:ION, OTCQB:IONGF) announced that it has negotiated debt settlement agreements with certain arm’s length and non-arm’s length creditors.

The company said it has settled an aggregate amount of $143,669 of debt in consideration for an aggregate of 606,675 shares priced at $0.24 each.

All shares issued in relation to the debt settlements are subject to a hold period of four months and one day.

Meanwhile, the company said it has granted an aggregate 1,250,000 incentive stock options under its stock option plan to certain consultants and insiders.

30 Aug 2023

ION Energy Ltd. (TSX-V:ION, OTCQB:IONGF) announced that it has made several key appointments to its leadership team ahead of its upcoming name change to Lithium ION Energy Ltd.

Pending TSX Venture Exchange (TSXV) approval, the company’s shares will continue to trade on the TSXV under the ticker symbol ‘ION’ but under the new name on or about September 1, 2023.

16 Aug 2023

ION Energy Ltd. (TSX-V:ION, OTCQB:IONGF) has bolstered its lithium portfolio with the acquisition of two new claims in Canada’s Northwest Territories (NWT).

The acquisition of the approximately 900-hectare Little Nahanni claims, situated in an area rich with pegmatites, is poised to significantly enhance ION's ongoing lithium exploration initiatives in the region.

What the brokers say

04 Apr 2023

ION Energy Ltd (TSX-V:ION, OTCQB:IONGF) is a 'Buy' for analysts at Couloir Capital as it makes progress at its projects in Mongolia - Baavhai Uul, and Urgakh Naran.

Noting that initial results of both projects returned a number of high-grade lithium highlights suggesting large base metal potential, the firm reiterated a 'Buy' rating and raised its fair value per share estimate to $1.45 per share from $1.12 per share, in a noted to clients.

“ION has made significant progress at its 100% owned Urgakh Naran project. This includes the completion of drilling three diamond core holes and reporting assay results that offer promising indications about the project’s lithium potential,” the Couloir analysts wrote.

What management says

18 Aug 2023

Ion Energy CEO Ali Haji joined Steve Darling from Proactive to announce the Company has successfully acquired two promising projects in the Northwest Territories, Canada. The first project is known as the Little Nahanni claims, covering approximately 900 hectares. These claims are located in an area with known pegmatites dating back to 1961. Ion Energy sees significant untapped potential for lithium exploration within the Little Nahanni claims, offering an opportunity for lithium discovery and collaboration with local stakeholders. This acquisition will complement Ion's existing lithium exploration activities in the Northwest Territories. Haji further elaborated on the second acquisition, which is the Bliss Lake Lithium Pegmatite Project, also located in the NWT, Canada. The acquisition terms include immediate consideration for the Bliss Lake project, as well as provisions for deferred equity-based consideration based on lithium oxide content assay results and cash consideration in the event of announcing a mineral resource estimate meeting specific criteria.

Ion Energy's strategic expansion through these acquisitions demonstrates its commitment to exploring and developing lithium resources, aligning with the increasing demand for lithium in various industries, particularly the growing electric vehicle market.

Haji emphasized the significance of its Mongolian lithium project, which spans 29,000 hectares and boasts substantial volume indications and credible drilling program grades. Ion Energy is sending its qualified person, Edward Gardner, to continue work on the Mongolian project, aiming for an inferred resource and potential strategic developments. These acquisitions expand Ion Energy's portfolio and its focus on multiple assets and jurisdictions, in addition to the flagship Mongolian project. Haji anticipates more updates as the company progresses, positioning Ion Energy as a key player in the evolving lithium market.

Ion Energy adds to portfolio acquiring new Lithium projects in NWT, Canada

Ion Energy CEO Ali Haji joined Steve Darling from Proactive to announce the Company has successfully acquired two promising projects in the Northwest Territories, Canada. The first project is known as the Little Nahanni claims, covering approximately 900 hectares. These claims are located in an...

on 08/18/2023