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The latest update is out from Arrow Minerals Limited ( (AU:AMD) ).
Arrow Minerals has clarified its obligations arising from a 2016 option agreement to acquire Next Advancements Pty Ltd, which held applications for exploration licences over the Malinda Lithium Project in Western Australia. Under that agreement, Arrow had committed to issue $100,000 worth of shares to the vendors upon the announcement of a specified JORC-compliant lithium resource.
After selling its interest in the Malinda Lithium Project in 2022, Arrow entered negotiations with the former vendors to resolve whether the milestone had been met and who was responsible for the contingent share payment. The parties have now executed a deed of settlement under which Arrow will issue $100,000 in new shares, priced in line with a recent placement, subject to shareholder approval expected to be sought at a meeting in June 2026, thereby removing an overhanging contingent liability tied to a historic asset.
More about Arrow Minerals Limited
Arrow Minerals Limited is an Australian exploration company focused on mineral resources, with a portfolio that has included lithium prospects such as the Malinda Lithium Project in Western Australia’s Gascoyne region. Listed on the ASX under the ticker AMD, the company pursues exploration and development opportunities in battery and other critical minerals to leverage growing demand in these markets.
Technical Sentiment Signal: Sell
Current Market Cap: A$8.07M
For an in-depth examination of AMD stock, go to TipRanks’ Overview page.