Charger Metals Secures Unconditional Sale of Bynoe Lithium Project
Charger Metals NL (ASX: CHR) has cleared the final condition for divesting its entire Bynoe Lithium Project after receiving regulatory approval for the tenement transfer from the Northern Territory Government. The transaction with Core Lithium Limited's wholly owned subsidiary is now set to proceed, with the company expecting to receive an initial payment of AU$3.75 million once settlement is completed, which is scheduled to occur in the coming days.The transaction also includes a potential AU$1 million milestone payment if a qualifying inferred mineral resource is defined, along with a 1% gross revenue royalty from future lithium production, capped at AU$10 million. The divestment strengthens Charger Metals’ financial position while allowing it to concentrate on advancing the Lake Johnston Lithium Project in Western Australia. Planned activities include a 10,000-metre drilling campaign, a scoping study for the Medcalf Lithium Deposit, and accelerated permitting aimed at supporting the project's future development and value creation.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Charger Metals Secures Unconditional Sale of Bynoe Lithium Project
Charger Metals NL (ASX: CHR) has cleared the final condition for divesting its entire Bynoe Lithium Project after receiving regulatory approval for the tenement transfer from the Northern Territory Government. The transaction with Core Lithium Limited's wholly owned subsidiary is now set to proceed, with the company expecting to receive an initial payment of AU$3.75 million once settlement is completed, which is scheduled to occur in the coming days.The transaction also includes a potential AU$1 million milestone payment if a qualifying inferred mineral resource is defined, along with a 1% gross revenue royalty from future lithium production, capped at AU$10 million. The divestment strengthens Charger Metals’ financial position while allowing it to concentrate on advancing the Lake Johnston Lithium Project in Western Australia. Planned activities include a 10,000-metre drilling campaign, a scoping study for the Medcalf Lithium Deposit, and accelerated permitting aimed at supporting the project's future development and value creation.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au