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Chariot Corporation making waves in US lithium market

PUBLISHED

2023-09-29

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Chariot Corporation, soon to be ASX-listed next month, is making waves in the US lithium market.

With a strategic focus on the United States, Chariot is poised to take advantage of the country's burgeoning lithium sector.

Let's delve into Chariot's flagship project, extensive portfolio, and upcoming ASX listing.

US Lithium Opportunity

Chariot Corporation has set its sights on the US for good reason. The Company believes the US represents a critical opportunity for ASX lithium juniors.

While Australia took the lead in lithium development, responding to China's demand for the mineral, the US is now shifting its attention to the electric vehicle market.

Lithium deposits at the surface and a growing domestic EV market in the US are creating ripe opportunities. Chariot Corporation has strategically positioned itself as one of the prominent hard rock lithium players in the US.

Flagship Project: Black Mountain Lithium

Chariot's flagship project is the Black Mountain Lithium Project, located in Wyoming. This hard rock lithium project stands out due to fierce competition—a billion-dollar NASDAQ-listed company vied for it. Black Mountain is part of two critical pegmatite provinces explored by ASX juniors, the other being in South Dakota. At Black Mountain, spodumene-bearing ore has been discovered at the surface, a promising sign. Extensive rock chip sampling programs have yielded excellent grades, and the next phase involves drilling to assess the extent of the spodumene-bearing ore.

Diverse Portfolio

Chariot Corporation's portfolio includes six projects in the US, each part of its exploration pipeline. After Black Mountain, attention shifts to Copper Mountain and South Pass. Both projects have historical artisanal mining activities for lithium minerals and documented lithium deposits at the surface. Chariot's strategy of targeting assets with lithium mineralisation at the surface aligns with the successful approach of early Australian lithium companies.

Project Development

While these projects are not strictly Greenfield, the US lithium sector, including Wyoming, remains largely unexplored. Historical literature dating back to the 1940s has identified lithium at the surface, but comprehensive development is still in its infancy. Chariot Corporation aims to capitalise on the vast potential within the US lithium sector and become a frontrunner in its resurgence.

Expert Team

Chariot Corporation boasts a well-rounded team with expertise in both corporate and geological aspects.

The team has a strong connection to Macquarie Bank.

CEO and founder, Shanthar Pathmanathan brings his banking background, having worked at Macquarie and Deutsche Bank. Chairman Murray Bleach was formerly the CEO of Macquarie in North America, and Frederick Forni, an ex-Macquarie managing director, serves as an executive director. On the geological side, Neil Stewart, the founding chairman of Orocobre Ltd, brings valuable expertise.

Chariot Corporation's team comprises experienced professionals who are dedicated to advancing the company's projects in the US lithium sector.

Future Prospects

Chariot Corporation's strategic focus on the US lithium sector positions it as a promising player in the industry's future. As the world's demand for lithium continues to grow, Chariot's exploration and development efforts in the US are well-timed, with an eye on the long-term sustainability of lithium supply.

The Company is eyeing an IPO next month. Stay tuned.

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