Bradda Head Lithium Ltd - North America-focused lithium development company - Swings to pretax profit of £1.4 million in the three months to November 30, from a pretax loss of £1.8 million a year ago. Operating costs reduced to £885,896 from £1.7 million in the corresponding quarter the previous year. Looking ahead, says it is ‘moving closer’ to finalising its drill programme at the Basin project.
Chair Ian Stalker says: ‘This quarter has been one that reflects the efforts we are putting into all our US lithium projects, with positives steps made at our San Domingo lithium in pegmatite asset, our Basin sedimentary lithium clay project and a re-evaluation of our Lithium in Oli Brines in Texas and Pennsylvania.
‘The board recognizes that the quality of the projects we own in the US demand that we prepare ourselves in such a way as to be ready to move quickly and efficiently for the undoubted next wave of lithium demand and uptick in pricing. We are well set to achieve this strategy.’
Current stock price: 1.50 pence, down 6.3%
12-month change: down 81%
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