Charger Metals acquires Lithium Australias 30% stake in Lake Johnston

Charger Metals (ASX: CHR) formally signs a deal to buy Lithium Australia's last 30% Lake Johnston stake. This strategic move, outlined in the Acquisition Agreement, involves Charger Metals paying AU$2.0 million in cash, which includes a non-refundable exclusivity payment of AU$0.15 million.

As part of the binding agreement, Lithium Australia retains a crucial first right of refusal for up to 30% of lithium produced by the Lake Johnston Lithium Project, aligning with plans for future commercial production of lithium ferro phosphate (LFP). This divestment supports Lithium Australia's ongoing transition away from non-core assets, reinforcing its financial position. Despite the divestiture, Lithium Australia maintains a substantial holding of 9.6 million ordinary shares in Charger Metals.

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