Australia-listed Pantera Minerals on Thursday announced it had completed the acquisition of Daytona Lithium, handing it 100% ownership of the Superbird lithium brine project, in the lithium-rich Smackover Formation in Arkansas, in the US.
Pantera is now the only listed junior in the Arkansas Smackover lithium brine play and is adjacent and on trend from Exxon Mobil’s lithium brine project.
“Our project has the potential to enhance supply stability for businesses investing in electric vehicle and battery production plants in North America by offering a final product that is produced in Arkansas and remains in the United States. This makes the project an invaluable asset to these companies and bolsters the critical mineral security of the United States,” said CEO Matt Hansen.
Chairperson Barnaby Egerton-Warburton further commented that he had recently returned from the Arkansas Lithium Brine conference, held in Little Rock, which included discussions with industry participants and members of the Arkansas state government.
“The directors of Pantera are highly encouraged by the support expressed by the Governor of Arkansas Sarah Huckabee Sanders and her team and look forward to playing a major role in establishing the lithium brine industry in the Great State of Arkansas and the USA,” he said.
Pantera’s next steps at Superbird would be to re-enter a well to test brine grade, permeability and porosity from the Smackover formation.