Talison Lithium Announces Purchases of Ordinary Shares
PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 06/07/11 -- Talison Lithium Limited ('Talison' or the 'Company') (TSX: TLH) announced today that its wholly-owned subsidiary, Talison Services Pty Ltd, intends to purchase on the open market through the facilities of the Toronto Stock Exchange (the 'TSX'), up to 637,020 ordinary shares of the Company, representing approximately 0.6% of the Company's issued and outstanding ordinary shares. As of June 6, 2011, there were 106,137,116 ordinary shares issued and outstanding. Talison Services Pty Ltd will purchase the ordinary shares in its capacity as trustee in respect of Talison's employee long term incentive plan. All ordinary shares purchased by Talison Services Pty Ltd will be held for delivery to participants under Talison's employee long term incentive plan upon exercise of options granted thereunder.
It is expected that purchases of ordinary shares will commence today and will terminate no later than June 30, 2011. All purchases will be made at prevailing market prices through the facilities of the TSX in accordance with its rules and policies. The timing and exact number of ordinary shares purchased will depend on market conditions, and may be suspended or discontinued at any time.
About Talison
Talison is a leading global producer of lithium. Talison mines and processes the lithium bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. In addition, Talison explores for lithium at the Salares 7 lithium project made up of seven salars (brine lakes and surrounding concessions) located in Region III, Chile. Talison has an extensive, well established global customer network and a leading position in the growing Chinese market.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release, including any information as to Talison Services Pty Ltd's intention to purchase ordinary shares of Talison, Talison's strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, may constitute 'forward-looking information' within the meaning of Canadian securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'predicts', 'potential', 'continue' or 'believes', or variations (including negative variations) of such words, or statements that certain actions, events or results 'may', 'could', 'would', 'should', 'might', 'potential to', or 'will' be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about management's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Talison, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such factors, estimates and assumptions include, but are not limited to: anticipated financial and operating performance of Talison, its subsidiaries and their respective projects; Talison's market position; future prices of lithium or lithium concentrates; estimation of mineral reserves and mineral resources; realization of mineral reserve and mineral resource estimates; timing, amount and costs of estimated future production; grade, quality and content of concentrate produced; sale of production; capital, operating and exploration expenditures; costs and timing of the expansion of the Greenbushes Lithium Operations; exploration and development of the Salares 7 lithium project; costs and timing of future exploration; requirements for additional capital; government regulation of exploration, development and mining operations; environmental risks; reclamation and rehabilitation expenses; title disputes or claims; absence of significant risks relating to Talison's mining operations; the costs of Talison's hedging policy; sales risks related to China; currency; interest rates, and limitations of insurance coverage. While Talison considers these factors, estimates and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Talison and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risk factors include, among others, those described in the unaudited interim consolidated financial statements of Talison and the related notes thereto as at and for the three and nine month interim periods ended March 31, 2011 dated May 11, 2011 and under the heading 'Risk Factors' in the annual information form of Talison for the year ended June 30, 2010 dated January 12, 2011 and in the short form prospectus of Talison dated February 8, 2011, each of which can be found on Talison's SEDAR profile at www.sedar.com. While Talison considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Although Talison has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this press release based on the opinions and estimates of management on the date statements containing such forward-looking information are made. Except as required by law, Talison disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
Contacts:
ICR, LLC
Gary T. Dvorchak, CFA
Senior Vice President
Investor Relations
1 (310) 954-1123
Gary.Dvorchak@icrinc.com