logo-loader
viewLithium Consolidated Ltd

Lithium Consolidated to acquire WA-based gold and copper explorer

Acquiree company Warrigal’s projects are within 20 kilometres of an existing gold processing facility with excess capacity.

Lithium Consolidated Mineral Exploration Ltd - Lithium Consolidated to acquire Warrigal Pty Ltd
Warrigal has an extensive gold and copper portfolio

Lithium Consolidated Ltd (ASX:LI3) has entered into a binding term sheet with the shareholders of Warrigal Pty Ltd to acquire 100% of Warrigal.

Warrigal is a WA-based resource and exploration company with four high-quality projects (Warriedar, Messenger, Euro and Range) in the Mount Magnet and Yalgoo mineral fields within the Murchison Province about 500 kilometres northeast of Perth.

Chief executive officer Andrew Haythorpe said:  “We are delighted to have secured the first rights to this significant and highly prospective gold and base metals portfolio which bolsters our WA ground holding while diversifying our commodity base.”

Key terms

  • Lithium Consolidated has agreed to issue an exclusivity fee to Warrigal shareholders and has agreed to acquire Warrigal over three tranches;
  • Completion of the three tranches is subject to various conditions including Li3 conducting and being satisfied in all respects with the results of their legal, financial and technical due diligence investigations; and
  • Warrigal will have the right to nominate two persons as directors of Li3 on completion of Tranche 3.

Quick facts: Lithium Consolidated Ltd

Price: 0.032 AUD

ASX:LI3
Market: ASX
Market Cap: $4.01 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Lithium Consolidated Ltd named herein, including the promotion by the Company of Lithium Consolidated Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Cap-XX to acquire Murata’s supercapacitor production lines and relocate them...

Cap-XX Limited (LON:CPX) managing director, chief executive officer and founder Anthony Kongats updates Proactive on the company’s acquisition of Murata’s supercapacitor production lines which will be relocated from Japan to a new larger factory in Sydney. Cap-XX develops, manufactures and...

15 hours, 6 minutes ago

2 min read