MetalsTech (ASX:MTC), a pure-play lithium exploration company, has commenced trading on the ASX after raising A$4.3 million from an oversubscribed initial public offer.
The company’s shares were last trading at A$0.26 intra-day on Friday, 30% higher compared to its issue price of A$0.20 per share.
The company owns hard rock lithium projects located in Quebec, Canada known for its high grade lithium discoveries and a supportive government.
Importantly, MetalsTech’s exploration at the Cancet and Adina Projects have already confirmed high grade lithium mineralisation in spodumene bearing pegmatite outcroppings.
MetalsTech’s projects boast excellent infrastructure with access to some of the lowest cost and cleanest power globally.
The company’s immediate plans are to advance exploration at its Cancet Project where up to 3.79% lithium in surface outcrops has been reported, with drilling to commence soon.
Story by ProactiveInvestors