17 October 2024
17 October 2024
General Motors (GM) will acquire a 38% stake in Thacker Pass for a total of $625m, with $430m in cash to aid Phase 1 construction.
Under the proposed deal, EV Minerals agreed to issue its common shares at $0.05 each, totalling C$3.5m ($2.54m).
Koonenberry has agreed to issue 35 million shares as consideration for the deal.
The exploration permit for the Agadez Uranium Project, spanning approximately 726km², is valid until November 2027.
The company plans to use the proceeds to support exploration at the Lunahuasi project in Argentina and the Los Helados project in Chile.
The company noted that the acquisition involves an initial outlay of approximately A$10,000 ($6,694).
President Biden's decision to end coal leasing in Wyoming has sparked debates on regulations and workforces as the administration recognises the market’s transition from coal.
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