JOHANNESBURG (miningweekly.com) – London-headquartered Arian Silver is stepping up efforts to expand its lithium business, announcing on Thursday that it had raised £600 000, part of which will be used to assess the feasibility of additional lithium acquisitions.
The company recently announced its interest in buying additional lithium assets and reported on Thursday that it was currently negotiating potential acquisitions.
The financial boost will also allow Arian Silver to advance exploration of its mining concessions in Zacetacas, Mexico, with CEO Jim Williams saying investor support had placed the company in a stronger position to progress its silver and lithium projects.
“To fully evaluate our current lithium options requires exploration methods that have not been financially viable for us, until now. We believe greater lithium concentrations occur deeper within the salars and the results so far obtained from the surface exploration are merely indicative of the presence of lithium,” he said in a statement.
Arian Silver placed 120-million units at 0.5p each through its broker to raise the £600 000.