08 August 2024
08 August 2024
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The lithium carbonate was derived from the direct lithium extraction (DLE) eluent of the ILiad pilot, which operated from November 2023 to February 2024.
First Quantum is committed to funding a minimum of $1.5m (C$2.06m) in exploration expenditures.
The deal includes the transfer of option rights under two key agreements and assignment of assets to the company’s subsidiary.
The agreements require cash payments, share issuances and exploration commitments from Refined Energy.
The deal will see a payment of $7,000 (C$9,615) and the issuance of one million common shares of Argo Gold.
The funds will be used to retire existing debt, support growth and meet working capital needs.
The approval was given after a comprehensive review process by the Impact Assessment Agency of Canada (IAAC).
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