Rapid Lithium Limited (ASX: RLL) announced the successful renegotiation of payment terms for acquiring the Ingersoll Project. The updated 2025 terms include a USD 30,000 payment to the vendor by 17 January 2025, the issuance of USD 150,000 worth of Rapid Lithium shares by the same date, and a USD 150,000 cash payment by 30 August 2025. The Company will commence drilling activities on the project following the initial payment. Upon completing drilling and receiving assay results, Rapid Lithium will decide whether to proceed with the Contract for Deed. If it chooses not to proceed, the property will revert to the vendor, and both parties will be released from further obligations.
Additionally, the Company has opted not to acquire New Energy (US) Inc. from Patriot Lithium Limited (ASX: PAT). Instead, it will focus on its portfolio and the Prophet River Gallium-Germanium Project in British Columbia, advancing exploration in key areas for future growth.
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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.
