Core increases landholding in the NT
PERTH (miningweekly.com) – ASX-listed Core Lithium has acquired the Walanbana lithium project, in the Northern Territory, from fellow-listed Todd River Resources.
In exchange for the exploration license, which is adjancent to Core’s Anningie and Barrow Creek lithium project, Core will issue more than 1.3-million of its own shares, at a price of 3.8c each.
The shares will be subject to a voluntary escrow until the end of June next year, and will be issued under Core’s existing placement capacity.
In addition to Core’s near development-ready Finnis lithium project, the company now holds over 3 250 km2 of granted tenure in the Northern Territory.
“Core is positioning the company and the Northern Territory to be an important long-term lithium supplier in northern Australia,” said Core MD Stephen Biggins.
“Core’s recent discussions with a number of large lithium consumers at various levels within the electric vehicle (EV) and lithium battery supply chain suggest that the world needs to heavily invest in new lithium supply if car manufacturers are going to achieve the EV production and emission goals demanded by consumers and governments in the near future,” Biggins said.
“Not only is there strong recognition of Core’s capability to deliver high-quality lithium, at a competitive cost to the car manufacturing industry, it can be achieved from a capital efficient, sustainable and transparent source near Darwin.”
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