Ardiden options battery metal properties to Great Northern Lithium for possible sale
Perth-based gold explorer Ardiden is optioning its northwestern Ontario lithium assets to a new junior mining entity, also from Australia.
Ardiden has signed an option agreement with Great Northern Lithium, to acquire 80 per cent of Ardiden’s lithium portfolio. The total consideration could be up to A$8.7 million if a sale goes through.
Great Northern Lithium is described in an Ardiden news release as being led by an experienced team, well-schooled in lithium exploration and in bringing deposits into production around the world.
Ardiden said this spring it was considering its options on what to do with its lithium properties, based on the surging world demand for lithium, used in the electric vehicle battery market. The company wants to focus on explorings its emerging gold projects in the Pickle Lake area.
Under consideration were a number of business combinations and partnerships including a spinoff company, joint ventures or the sale of a project.
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