Sayona Mining Limited (ASX:SYA) announced that it is expanding its northern lithium hub in Québec, subsequent signing a deal with Troilus Gold Corp. (TSX: TLG) regarding an essential exploration package located near the Moblan Lithium Project (SYA 60%; SOQUEM 40%).
As per the agreement, the company’s Canadian subsidiary Sayona Inc. will acquire a 100% interest in 1,824 claims covering 985 km2, located near the Moblan project covering 4.3 km2 and extending over a significant part of the Frotêtâ€Evans Greenstone Belt.
Sayona is paying C$40 million worth of SYA stock as consideration for the claims to be acquired. Along with the claims acquisition, Sayona has agreed to subscribe for ~C$4.8 million worth of common shares of Troilus on a nonâ€brokered private placement basis, bringing Sayona’s investment in Troilus to around 9.26%. Troilus will also receive a 2% net smelter return royalty on all mineral products from the acquired claims.
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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.
