Altura signs letter of intent for lithium offtake from Pilgangoora
JOHANNESBURG (miningweekly.com) – Perth-based explorer Altura Mining has entered into a nonbinding letter of intent with China-based group Lionergy, which would see the latter buy a minimum of 100 000 t/y and up to 150 000 t/y of lithium spodumene concentrate, produced from Altura’s 100%-owned Pilgangoora lithium project.
Lionergy has also agreed to subscribe to shares in ASX-listed Altura through a A$3-million placement at 8.1c apiece.
“The placement to Lionergy demonstrates the confidence level shown in the company and our flagship project,” Altura said in a statement.
Both parties were working towards further developing the relationship and would conduct a China-based marketing programme this week to showcase the project potential to downstream lithium carbonate processors.
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