Lithium Australia granted trading halt with capital raising news pending

Lithium Australia NL (ASX:LIT) has been granted back-to-back trading halts by the ASX with a capital raising announcement pending. The trading halts will remain in place until the start of regular trading on Friday, August 14, or when an announcement is released to the market, whichever occurs earliest. Shares last traded at 6.8 cents and have been on an upward trend since closing at 4.5 cents on July 15. Battery recycling facility The company has advised that a fire at a battery recycling facility in Melbourne is not related in any part or form to the company’s 90%-owned Envirostream Australia Pty Ltd battery recycling operation. The fire was at a different unrelated facility in the northern suburb of Campbellfield, the same suburb as the Envirostream operation. Under guidelines released recently by the Victorian State Government during its stage-4 lockdown, Envirostream’s Campbellfield plant continues to operate. The plant is included in that government’s list of ‘electricity, gas, water and waste services’ considered important infrastructure and also classified as an ‘essential service’. Lithium Australia aims to ensure an ethical and sustainable supply of energy metals to the battery industry by creating a circular battery economy and enhancing energy security in the process.