Chariot Corporation

Primary ticker: Private
Stage of development: Exploration
Primary minerals: Lithium
Project to promote: Black Mountain Project
Project location: United States of America
Corporate presentation: Click here

Chariot Corporation Limited (“Chariot” or “the Company”) is a mineral exploration company focused on discovering and developing high-grade and near surface lithium opportunities in the USA. Through the combination of systematic project acquisitions, strategic M&A initiatives and geological analysis, Chariot has accumulated one of the largest portfolios of lithium assets in the United States.

Chariot’s flagship assets are the Black Mountain Project (hard rock lithium) located in Central Wyoming and the Resurgent Project (claystone lithium) located in the McDermitt Caldera (NV, OR). Both projects feature early results indicating high-grade lithium mineralisation at surface.

The Black Mountain Project features spodumene outcrops with surface rock chip samples assaying up to 6.68% Li2O with an average of 2.15% Li2O. Permitting approved for a Phase 1 drilling program with diamond drill hole drilling planned to commence in September 2023.

The Resurgent Project is the second largest land position in the McDermitt Caldera and features surface samples assaying up to 3,865 ppm Li (over 3x MRE cut-off grade). The McDermitt Caldera hosts the two largest known lithium mineral resource estimates in the United States with over 40mt LCE.

On 23 August 2023 the Company lodged its prospectus to complete an initial public offering at $0.45 per share to raise up to $15.5m. The Company is anticipated to be quoted on the official list of the ASX in early October.

Cash: AUD$$3.9M

Major shareholders:
Management Ownership – 29%

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?

Aug 21 2023: Black Mountain Recent Rock Chip Samplings has Resulted in Additional Assay Results of up to 5.24% Li2O

May 5 2023: Joint Lead Manager Appointed for ASX Listing

Mar 21 2022: WA Lithium Assets Sold to St George Mining Limited (ASX: SGQ)

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

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 for the next 3, 6 and 12 months?

3 Months:
ASX IPO & listing followed DDH drill program

6 Months:
Maiden drilling results at the Black Mountain and Resurgent Projects

12 Months:
Dual listing on another major North American exchange

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

Large lithium exploration portfolio in U.S.A. with high-grade mineralisation at surface

What are the top 3 key investor takeaways?

1) Large U.S. 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 both hard rock lithium (WY) and in claystone lithium (NV, OR).