02 April 2024
02 April 2024
This is part of a broader effort to harness the nation's underground resources, which include a variety of minerals.
With this investment, the company aims to double its green lithium production capacity to 520,000 tonnes (t) per year by 2025.
Oberon will issue 17.6 million Class A common shares at C$0.05 each, pursuant to the share purchase deal.
A government spokesperson said that the government aims to maximise the value derived from Nigeria's solid mineral deposits.
First delivery consists of around 21,000t of ore and is said to be a significant milestone for the company.
Proceeds will be used for the company’s exploration and development activities and to meet its working capital needs.
Proceeds will be used by the company to fund eligible Canadian exploration expenses at its Shaw Dome assets in Ontario.
The placement involves issuance of 41,666,667 fully paid ordinary shares at A$0.12 each.
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