Lithium Energy Ltd. (AU:LEL) has released an update.
Lithium Energy Limited is delighted to report that its shareholders have endorsed the sale of the company’s entire stake in the Solaroz Lithium Brine Project for US$63 million to CNGR Netherlands New Energy Technology B.V. The agreement includes various payment structures, with a significant portion payable upon completion, and contingent extra payments based on future lithium carbonate prices. This strategic move is anticipated to significantly alter the company’s operations and asset base, with further announcements to be made as the sale progresses towards completion by the fourth quarter of 2024.
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