Pursuit Minerals
Primary Ticker: ASX:PUR
Stage of Development: Development
Primary Minerals: Lithium
Country / Region: Argentina
Market Cap 29m
Website: Pursuit Minerals
Pursuit Minerals (ASX:PUR) is a mineral exploration and project development company focused on its flagship Rio Grande Sur Lithium Project in Argentina.
The Rio Grande Sur Project is situated at the Rio Grande Salar in the Salta Province of Argentina, located in an area known as the ‘Lithium Triangle’ which contains more than 50% of the estimated global lithium resources and 40% of current world production. The project tenure of 9,260ha is located within an existing Ni43-101 inferred resource of 2.19mt LCE @ 374 mg/Li. A key component of the Rio Grande Sur Project is the Lithium Carbonate Pilot Plant currently being commissioned at a speciality facility in Salta. The purpose of the plant is to produce Lithium Carbonate at a small commercial scale in the near term.
Management Profile
Aaron Revelle, Managing Director & CEO
Mr. Revelle is a senior mining executive with significant experience in the development and founding of natural resources companies. Aaron has over 15 years experience across a variety of commodities with a focus on bringing resource deposits into production. Prior to founding Trilogy Minerals and joining Pursuit, Aaron was the founder of Argentinian Lithium focused exploration company Centaur Resources which was sold to Arena Minerals (CVE:AN – market cap C$190.9m) for A$23m in 2020. In December 2022, Arena Minerals was acquired by Lithium Americas Corp (TSX:LAC) for US$227 million (C$311 million).
Peter Wall, Chairman
Mr Wall is a Partner with leading Australian Law Firm Steinepreis Paganin with significant experience in wide ranging experience in mergers, acquisitions, takeovers, reconstructions and recapitalisations. His core areas of practice include energy, resources, capital markets and strategic advice. Peter is also Chairman of Minbos Resources listed on the ASX.
What is your rationale for taking part in 121 Mining Investment?
Raising awareness of Pursuit and its Lithium project.
What recent news would you like to highlight to investors attending?
Completion of recent geophysical surveys highlighting drilling results, as well as recent commissioning of our pilot plant toward production.
What are your key goals for the next 3, 6 and 12 months?
3 Months
Commencement of drilling at the Rio Grande Sur Project & start up of the Lithium Carbonate Pilot Plant in the city of Salta.
6 Months
Maiden JORC resource being published
12 Months
Production of first Lithium carbonate, commencement of relocation of plant to site, JORC resource upgrade.
What do you think makes your company such a compelling investment?
The project is very close to production and sits within an existing Ni43-101 resource in turn heavily derisking the opportunity yet with its valuation at such an early stage.
What are the top 3 key investor takeaways?
- Attractive lithium resource
- Pathway to Production
- Strategically located Tier 1 Address.
