Corcel plc has exercised its option to acquire the Canegrass lithium project in Western Australia.
LOW COST
The company signed a 30-day option period in February and, as agreed, will now issue vendor Huntsman Exploration Inc with 50,000,000 new ordinary shares at £0.004, equating to a total £200,000.
“Building upon our recent acquisition and farm-out of the Mt Weld REE project which is now approaching drilling, Corcel is pleased to have now acquired a high-upside / low-cost lithium project, adjacent to Aldoro Resources’ Wyenmandoo lithium-rubidium-tantalum project in Western Australia,” added chief executive Scott Kaintz.