On August 14, Shengxin Lithium Energy announced that the company's application for issuing shares to specific targets was accepted by the Shenzhen Stock Exchange.
It is reported that this increase is expected to raise no more than 5.3 billion yuan, mainly for the project of mining and dressing of wood wool lithium mine and supplementary liquidity. Located in Yajiang County, Ganzi County, Sichuan Province, Murong Lithium Mine is the largest single hard rock lithium mine in Asia, with a lithium resource of 989,600 tons and an average grade of 1.62%.
Up to now, the preparatory work before the construction of wooden wool lithium mine has been basically completed, large-scale construction is about to start, and the construction period is expected to be four years.
The project is expected to produce 3 million tons of lithium per year. After the completion of the construction, the annual output of lithium concentrate will be 717,400 tons.
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