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Altura Earn In Agreement Boosts Sayonas Aust Lithium Assets

Mining News - Published on Tue, 13 Aug 2019

Image Source: Sayona Mining
Emerging lithium miner Sayona Mining Limited announced an Earn-in Agreement with leading lithium producer Altura Mining Limited, which will help maximise the value of Sayona's Western Australian lithium portfolio in the world-class Pilgangoora lithium district. Under the agreement, Altura will spend $1.5 million on exploration across the project portfolio over three years to earn a 51% interest, with Sayona retaining the remaining project interest. Sayona retains the right to contribute to project evaluation and development in the future to participate in the upside potential.

Sayona's current WA lithium portfolio comprises some 1,806 square kilometres, with its tenure in close proximity to other spodumene deposits, including Altura's Pilgangoora mine which commenced commercial production in March 2019.

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Posted By : Sanju Moirangthem on Tue, 13 Aug 2019
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