Chariot Corporation

Primary ticker: Private
Stage of development: Exploration
Primary minerals: Lithium
Project to promote: Wyoming Lithium
Project location: United State
Corporate presentation:
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Chariot Corporation (Chariot) holds the largest land position for lithium exploration in the United States. Chariot’s first generation lithium exploration assets in the U.S. includes both claystone hosted lithium assets in Nevada and Oregon and spodumene-bearing pegmatites in Wyoming. Chariot is seeking to emulate the first generation of lithium companies in Australia, but in the U.S..

Chariot pursues lithium exploration opportunities with mineralisation at surface in outcrops or workings, large-scale potential and overall Tier-1 potential. 

Chariot has raised a total of A$9.42m to date since being founded in 2019 and has divested assets to public companies which are listed on the Australian (ASX) and Canadian (CSE) stock exchanges for total proceeds of US$27.8 million.

Chariot’s principal asset is the Black Mountain Lithium Project located in Wyoming with initial samples bearing ore-grade lithium at the top of a mountainous structure. The Black Mountain Lithium Project features spodumene outcrops found at surface with rock chip assays averaging 2.22% Li2O and as high as 6.67% Li2O. Chariot’s other key asset is the Resurgent Lithium Project which is the 2nd largest land-position in the McDermitt Caldera, straddling Nevada and Oregon and neighbouring the two largest, defined lithium resources in North America, which are both in the McDermitt Caldera.

The McDermitt Caldera is the largest, high-grade lithium claystone endowment in the world. The Resurgent Lithium Project neighbors’ projects held by Lithium Americas (NYSE: LAC) and Jindalee Resources Limited (ASX: JRL) – the two largest lithium resources in the US with a combined MRE of 31Mt LCE Chariot holds 15,753 ha of tenements in the Tier-1 jurisdictions of Wyoming, Nevada and Oregon. Chariot is planning a H2 2023 ASX listing.

Cash: AUD$1.2M

Major shareholders:
Shanthar Pathmanathan – 25%
Southern Cross Financial – 5%
Ajaib Dhillon – 2.3%
Management Ownership – 32%

Management Profile

Shanthar Pathmanathan – CEO
Mr Pathmanathan is the founder, Chief Executive Officer and a Director of Chariot Corporation Ltd. Mr Pathmanathan was the Chief Executive Officer and Managing Director of Lithium Consolidated Ltd, an ASX-listed company, which had one of the largest portfolios of hard rock lithium exploration assets, globally. Mr Pathmanathan has 14 years of investment banking experience in the metals and mining, oil and gas and chemicals sectors. He was Vice President with Deutsche Bank’s investment banking division and previously held investment banking and principle investment roles with Macquarie Group in Australia and New York. Mr Pathmanathan has a Bachelor of Laws degree from the University of Western Australia.

What is your rationale for taking part in 121 Mining Investment?

Raising investor awareness

What recent news would you like to highlight to investors attending?

Jan 11 2023: Chariot acquires five new hard rock lithium projects in Wyoming, U.S.A.

Dec 23 2022: Chariot raises A$2.2m in an Oversubscribed Placement

Dec 8 2022: Chariot acquires the Copper Mountain hard rock lithium project in Wyoming, U.S.A.

Dec 7 2022: Sale of the Lithic & Mustang Lithium Projects to Red Mountain Mining Limited (ASX:RMX)

Nov 4 2022: Chariot acquires the Black Mountain hard rock lithium project in Wyoming, U.S.A.

Sep 30 2022: Sale of the Horizon Lithium Project to Pan American Energy Corp. (CSE: PNRG)

Aug 8 2022: Sale of the Halo Lithium Project to Clear Sky Lithium Corp. (CSE: POWR)

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
ASX IPO & Listing

6 Months:
Maiden Drilling at 2 of the largest lithium projects in U.S.A.

12 Months:
Dual listing on another major North American exchange

What do you think makes your company such a compelling investment?

Largest lithium exploration portfolio in U.S.A.

What are the top 3 key investor takeaways?

1) Largest U.S.A. lithium exploration portfolio
2) Large U.S. based exploration team led by Dr Edward Max Baker – ex Chief Geologist at Newcrest Mining Ltd and MIM Holdings Ltd.
3) Iconic exploration assets with lithium at surface & large-scale potential in claystone lithium (NV, OR) & hardrock lithium (WY)