Name change to Lithium Australia reflects new company focus

THE BOURSE WHISPERER: Cobre Montana (ASX: CXB) has received shareholder approval for a change of company name to Lithium Australia (ASX: LIT).

The name change has come about to reflect the company’s focus on its emerging lithium mica technology, which it expects will see it become a developer of disruptive lithium exploration, mining and processing technology.

“Lithium Australia NL is in the process of assessing mica-to-lithium opportunities in Europe, Africa and Australia and will be building a management team commensurate with its aim to control a substantial lithium inventory,” the company said in its ASX announcement.

Lithium Australia recently completed successful mini-plant continuous lithium carbonate production from ore sourced from Lepidolite Hill, located 55 kilometres south-west of Kalgoorlie, Western Australia.

The company anticipates further mini-plant testing in the current quarter, using mica concentrates from one of the deposits under investigation in Europe.

The company explained the Australian Securities Exchange (ASX) will amend its ticker code to LIT in due course, at which time a further announcement will be made to ensure a smooth trading transition.