Charger Metals has moved to 100 per cent ownership of the Bynoe Lithium Project, acquiring the remaining 30 per cent from Livium for cash consideration of $500,000.
As announced on 9 September 2024, Livium had agreed to sell its 30 per cent interest in the Bynoe Lithium Project to Core Lithium, subject to Charger Metals’ pre-emptive rights over the interest. Charger Metals exercising these rights prior to the expiry of the pre-emption period means it has agreed to acquire the remaining interest in the Bynoe Lithium Project.
Charger’s Managing Director, Aidan Platel, said the company is pleased to move to 100 per cent ownership of the project.
“Covering an area of 63km2 and with more than 20 prospective lithium targets yet to be drilled and tested, we believe it’s the largest underexplored area of the Finniss pegmatite field that is both inside the lithium prospective structural corridor and within 20km of Core’s spodumene beneficiation plant at Grants.
“We are currently completing environmental studies and surveys as part of our drill permitting process, and we look forward to drilling our priority targets next dry season.”
Livium CEO and Managing Director, Simon Linge, said, “The sale of our interest in the Bynoe Lithium Project to Charger Metals marks a significant milestone in our strategy to focus on core operations aligned with our long-term vision. This transaction enables us to drive key battery recycling initiatives and enhances our balance sheet flexibility for future growth.”
