Lithium Plus Minerals Limited Acquisition of Complementary Australian Uranium

Lithium Plus Minerals Limited (ASX: LPM) has agreed to acquire two complementary projects involving uranium and rare earth elements (REE) in the Northern Territory and northern New South Wales. As part of this deal, LPM's current Moonlight Project will be combined into a newly formed company called Newco Pty Ltd, with LPM maintaining a 50% ownership stake in the new entity.

This acquisition offers an appealing structure and underscores its unwavering commitment to the Moonlight Project. It enables LPM to maintain an interest in any lithium extracted from the Moonlight Project through a 1% royalty on the earnings from all lithium or lithium-bearing pegmatite sales, ensuring the project's continued contribution to its company's success. The primary focus of these acquired assets is expected to be the MacDonnell Ranges Uranium Project.

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