Grid Battery Stock Price, News & Analysis

AC/DC Battery Metals has completed a CAD$2,000,000 non-brokered private placement, issuing 40,000,000 units at CAD$0.05 each. Each unit consists of one common share and one share purchase warrant, allowing the purchase of an additional share at the same price within five years. The units are subject to a four-month hold period ending November 4, 2024. The funds will be used for exploration, development, and general working capital. AC/DC shares began trading on the TSX Venture Exchange under the symbol TSXV: ACDC on July 8, 2024. AC/DC insiders bought 3,000,000 units, invoking exemptions from certain valuation and minority shareholder approval requirements.

Grid Battery Metals has announced the results of its second phase of exploration at the Clayton Valley Lithium Project in Nevada and plans for the third phase. Key findings include infill soil sample results and data from a magnetotelluric (MT) geophysics survey, which have helped identify potential lithium accumulation sites. The upcoming phase involves a four-hole drill program scheduled for September 2024.

President and CEO Tim Fernback stated that the completed soil sampling and geophysical survey, supervised by Rangefront Geologist Steven McMillin, have led to the identification of four key drill locations. Three holes in the south show potential lithium deposits in claystone and brine, while the northern hole, despite lacking significant soil signatures, shows a promising low-resistivity anomaly.

The company is optimistic about these findings and anticipates further exploration to determine the depth and extent of lithium-bearing deposits.

Grid Battery Metals has completed the second phase of its 2024 exploration plan for the Clayton Valley Project. This phase involved detailed soil sampling and the integration of geological data using advanced modeling techniques. The first phase resulted in 166 samples showing significant lithium potential, while the second phase refined these findings with 286 additional samples. Assay results are pending. The exploration also included the use of magnetotelluric (MT) geophysics to better understand subsurface structures, which will guide future drilling. The company is optimistic about the project's potential, especially given the proximity to Century Lithium's positive feasibility study and Albemarle 's lithium production facility in the same region.

Grid Battery Metals and AC/DC Battery Metals have announced that AC/DC has received conditional approval for listing its shares on the TSX Venture Exchange under the symbol 'ACDC'. The final approval and initial trading date will be announced soon. Additionally, the company has received conditional approval for a non-brokered private placement of 40,000,000 units at CAD$0.05 per unit, raising gross proceeds of CAD$2,000,000. Each unit includes one common share and one warrant, allowing the purchase of an additional share at CAD$0.06 within five years. Finder fees and insider participation details were also disclosed. The funds will be used for exploration, development, and working capital.

Grid Battery Metals has completed Phase 1 of its 2024 exploration plan at the Clayton Valley Lithium Project in Nevada. This phase involved detailed infill soil sampling and a Magnetotelluric (MT) geophysical survey. Samples are now at the lab for analysis. The MT survey, conducted by KLM Geoscience, revealed significant geological features, including a major fault that could indicate lithium-rich areas. The company plans to create a 3D geological model and launch a new drilling program later in the year. Previous exploration included drilling three holes to test for lithium-bearing clays, with mixed results.

Grid Battery Metals Inc. announced that Fundamental Research Corp. has initiated coverage on the company, providing a third-party independent research report. The report includes an Enterprise Valuation Analysis and a Share Price Target by FRC's VP & Head of Research, Mr. Siddarth Rajeev.

Grid Battery Metals Inc. reported the results of its MT geophysics survey on the Clayton Valley Lithium Project. The survey aimed to identify lithium brine deposits through low resistivity signatures and basin floor structures. The company plans to conduct an infill sample program and create a 3D model for future drilling.