Fulcrum Lithium Launches Share Purchase Plan at $0.051 Per Share Following 10.7 Mt LCE Maiden Resource

Shwetambri Chauhan

11 November 2026 12:32 PM AEDT

Fulcrum Lithium Launches Share Purchase Plan at $0.051 Per Share Following 10.7 Mt LCE Maiden Resource

Image Source: Krish Capital Pty Ltd

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Fulcrum Lithium Ltd (ASX:FUL) has released its Share Purchase Plan offer booklet, inviting eligible shareholders to purchase up to $30,000 worth of new shares at an issue price of $0.051 per share, with no brokerage or transaction costs, following the delivery of a 10.7 million tonne lithium carbonate equivalent maiden Mineral Resource at its Alkali Flats project in Nevada, United States.

Key Points

Eligible shareholders may purchase up to $30,000 worth of new shares at $0.051 per share with no brokerage or transaction costs
The Alkali Flats project in Nevada contains a maiden Mineral Resource of 3.57 billion tonnes at 563 ppm lithium for 10.7 Mt LCE, with 4.3 Mt (40%) in Measured and Indicated categories
SPP funds are intended to support a drill program at Alkali Flats targeting the higher-grade eastern trend in the first half of 2027, a maiden drilling program at Dry Canyon, and metallurgical optimisation at Alkali Flats
Shares issued under the SPP will rank equally with all existing shares

Share Purchase Plan Offer Terms

According to the filing, the SPP allows eligible shareholders to purchase up to $30,000 worth of new shares at an issue price of $0.051 per share, with no brokerage or transaction costs payable by participants. The offer booklet, dated 11 November 2026, states that shares issued under the plan will rank equally with all existing shares. The document notes the SPP is not a prospectus or other form of disclosure document under the Corporations Act 2001, and its contents have not been reviewed by any regulatory authority. The company has indicated a scale-back mechanism and shortfall provisions are included in the plan's terms and conditions.

Alkali Flats Maiden Mineral Resource Details

The filing discloses that the Alkali Flats project in Nevada contains a maiden Mineral Resource of 3.57 billion tonnes at 563 parts per million lithium, equating to 10.7 million tonnes of lithium carbonate equivalent. Of that total, 4.3 Mt, representing 40%, is already classified within the Measured and Indicated categories. The filing states the resource remains open in multiple directions with clear growth targets. The company said the resource was defined under time and under budget, following systematic exploration of what it describes as the largest lithium project claims holdings in the United States. The filing states Alkali Flats hosts the seventh-largest lithium resource in the United States and the third-largest pre-construction lithium resource on the ASX.

Planned Use of SPP Proceeds

The filing states that proceeds from the SPP are intended to support three specific activities. The first is a resource upgrade through a drill program at Alkali Flats targeting the higher-grade eastern trend, planned for the first half of 2027, described as a key input leading to a scoping study. The second is a maiden drilling program at Dry Canyon, described as a large-scale, high-grade potential exploration project, which the filing states has already been approved and is targeted for the current quarter. The third is metallurgical optimisation for Alkali Flats, with the filing noting extraction rates of greater than 90% across multiple pathways, leading to a process flow selection for a scoping study in 2027.

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