RE: Move to 1-2p. Banging news, 3-5p. JV with Liontown. Gold & Lithium.7 Oct 2024 12:40
Overview
· Liontown, the ASX lithium developer with a market capitalisation of ~A$6.0 billion, expects to bring its proximal Kathleen Valley Lithium Project into production in mid 2024, for which it has offtake arrangements in place with LG, Ford and Tesla.
· Under the proposed transaction, Liontown will fund all lithium exploration activities, mining costs and associated Heritage Surveys.
· Mila, TPE and NGM will maintain ownership over the gold and other minerals on the Licence Area.
· Following initial exploration, Liontown will have the option to acquire the right to extract lithium from the Licence Area ("Lithium Rights").
· Liontown has the option to acquire up to 80% of the Lithium Rights from Mila and TPE for a total consideration of up to A$2,200,000 through a phased investment programme.
· By agreement with TPE and NGM, Mila currently has a 50% interest, in the Lithium Rights, representing 10% of the Lithium Rights following full exercise by Liontown of its option.
Resist the JV terms liontown supply Tesla and ford 🤔
Liontown added 200m to its cap
What’s happening 😏