Ardiden sells controlling stake in three lithium projects to Green Technology Metals
A new Australian lithium exploration company wants to tap into the global clean energy movement, starting in northwestern Ontario.
Shareholders for Ardiden, a gold exploration company operating in the Pickle Lake area, have agreed to sell up to 80 per cent ownership of its lithium projects in the region to Green Technology Metals, formerly known as Great Northern Lithium Pty.
Ardiden, which wants to focus exclusively on its gold prospects outside Pickle Lake, signed an option agreement with Great Northern last May.
The two Australian companies are creating a joint venture partnership that will see Green Technology Metals (GTM) buy a majority stake in a collection of lithium properties that will put $9.2 million in Ardiden’s pocket, through a staged-payment schedule, to use for gold exploration in Pickle Lake.