Managing Director’s Letter
The rebound in lithium sentiment, driven by global climate change imperatives, has gathered
momentum during 2021. Your company is fortunate to be well positioned to benefit from this
renewed interest in lithium by having a quality lithium mineral resource on a large ground
package located in Western Australia’s premier lithium province in the Yilgarn Craton.
The Pioneer Dome Project (ESS: 100%) is located in the core of Western Australia’s lithium
corridor in the Eastern Goldfields, approximately 130km south of Kalgoorlie and 275km north of
the Port of Esperance. A lithium Mineral Resource of 11.2Mt @ 1.21% Li2O has been defined at
Dome North in the northern part of the Project area.
The southern Yilgarn area is recognised as being well endowed with spodumene deposits,
including the Bald Hill Mine, the Mt Marion Mine and the Buldania Project, all within 100km of
the Pioneer Dome Lithium Project. The world-class Earl Grey deposit and the Mt Cattlin Mine
are located further west and south of Pioneer Dome, respectively.
Our goal is to grow our lithium resources and become a new force in the lithium supply chain.
We are encouraged by the strong support of new and long standing shareholders in supporting
our equity together with the highly oversubscribed $5 million capital raising in August 2021
resulting in cash and liquid investments of just under $10 million as at the date of this report.
This has provided for a very strong balance sheet leading into 2021/22 and will enable us to
focus on delivering our strategy for all shareholders.
We also have exposure to gold and nickel via two 100% owned highly prospective gold projects,
four gold joint ventures with leading gold companies including Northern Star Resources, Novo
Resources Corp. and Black Cat Syndicate and two nickel joint ventures.
The Essential Metals team is excited and committed to advancing our projects, particularly our
lithium projects, to continue to create shareholder value.