ASX: CC9 - Chariot Resources
- Matt Birney
- Mar 17
- 3 min read
Chariot Resources: Lithium is back and the Chinese know it!
Chariot Resources Managing Director Shanthar Pathmanathan on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
Listen to ASX-listed Chariot Resources Executive Chairman Shanthar Pathmanathan talk to Matt Birney on the Bulls N’ Bears Report about the big Chinese lithium industrialist that just bought into Chariot above market.
TO LISTEN TO THE CHARIOT RESOURCES AUDIO INTERVIEW - CLICK BELOW
Chariot Resources has been building a two-continent lithium portfolio, but the market hook right now is on its soon to be 66% owned four Nigerian hard-rock projects with a history of artisanal lithium mining. The company’s strategy is to go small-scale mining for near-term cash flows while it drills out a bigger resource and it recently landed a Chinese equity investor who is down for the ride with the lithium market starting to get a head of steam again.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by lithium explorer Chariot Resources.
Matt Birney - ASX code: CC9
Matt Birney - I'm Matt Birney and I'm joined now by the Executive Chairman of Chariot Resources, Shanthar Pathmanathan.
Matt Birney - Hi Shanthar.
Shanthar Pathmanathan - Hello Matt.
Matt Birney - Okay, so Chariot Resources have been building a two-continent lithium portfolio, but the market hook right now is on its soon to be 66% owned four Nigerian hard-rock projects with a history of artisanal lithium mining. The company’s strategy is to go small-scale mining for near-term cash flows while it drills out a bigger resource and it recently landed a Chinese equity investor who looks like it just might be down for the ride with the lithium market starting to get a head of steam again.
Matt Birney - Okay, Shanthar, a Chinese firm by the name of Greatpower just tipped $1.4 million bucks into Chariot, largely on the back of these Nigerian lithium projects. What price did they put that money in at and who is Greatpower?
Shanthar Pathmanathan - They've invested at 15 cents per share. The investment will consummate very soon. They struck the deal when the share price was 14.5 cents. So they were willing to invest above market. Shanghai Greatpower is medium-size precursor cathode active material company supplying battery makers in China. So they're in the supply chain just before the battery makers that supply all the various metal powders to make the batteries.
Matt Birney - Okay, are they planning to be just a passive investor or can you get them involved in offtaking or project funding or where does all that sit?
Shanthar Pathmanathan - They are definitely in the mix for offtake and funding at the project level. We're talking to six other Chinese lithium companies, Chinese battery companies, household names in the battery world. And we're also talking to two European groups all vying for offtake and to provide financing at the project level.
Matt Birney - Okay, well, give me a sense of scale of these Nigerian lithium projects. What are you sort of seeing at surface? I take you've got pegmatites outcropping old pits there. Give me a sense of scale.
Shanthar Pathmanathan - The projects are expected to be very very large in scale. They're compared to what Pilbara would have been if it was drilled. So, Fonlo, for example, we're looking at 6 kilometre strike system. So, the locals have artisanally mined it and have opened about a dozen pits which line up along 6 km, north south, at Fonlo. And that type of system is mirrored across the other three projects as well. So potentially very large scale systems.
Matt Birney - Have you sampled those outcropping pegmatites?
Shanthar Pathmanathan - We certainly have. The results were extraordinary. So have confirmed high-grade mineralization. Fonlo we sampled. The average grade was 3.51% lithium oxide. Best grade was 4.04% lithium oxide. Iganna we sampled as well. Average grade was 4.63% lithium oxide. The best grade was 5.96% lithium oxide. So very high-grade samples at just these two projects.
Matt Birney - Good numbers.
Matt Birney - Shanthar Pathmanathan from Chariot Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public companies tab.
