Pan Asia Metals (ASX:PAM) has requested to continue a voluntary suspension on the Australian Securities Exchange (ASX) until 4 April 2024.
As Mining.com.au previously reported, the company entered into a trading halt on 30 January 2024, pending the release of an announcement relating to a proposed equity raise.
Pan Asia is continuing discussions with strategic investors regarding the placement participation and the company intends to remain in voluntary suspension until such time the placement concludes.
The company is strategically placed in the heart of Southeast Asia and is advancing its battery metals-focused projects, namely Reung Kiet (RK), Tama Atacama, and KT Lithium.
According to Pan Asia, the RK project is the only lithium project in South and Southeast Asia with a JORC mineral resource and underground feasibility studies.
Tama Atacama is a lithium-brine project that covers a 1,600km-square area that lies in the Atacama desert in Northern Chile.
The KT project is a lithium and lepidolite pegmatite project that sits in the Phang Nga Province in Southern Thailand, encompassing a 45km-square area.
Pan Asia Metals Limited is the only publicly traded battery materials company with lithium projects in Southeast Asia and South America, and with agreements with key battery and chemical producers in
the Asian region to produce advanced battery chemicals.
Its Asian assets are strategically located in Thailand – the largest vehicle producer in the region. With Asia accounting for more than half of the global annual vehicle production, Pan Asia is positioned to capitalise on the soaring demand for battery minerals in the region.
Pan Asia’s South American assets are strategically located in the Atacama region of Chile, it is one of South America’s largest and most strategically positioned lithium brine projects, situated at an altitude of 800-1100m with all necessary transport and energy infrastructure and only 75km from Iquique, a well-equipped coastal city with a population of 200,000, a deep water bulk and container port, and regular flights to Santiago.
Write to Aaliyah Rogan at Mining.com.au
Images: Pan Asia Metals
