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An update from Chariot Corporation Limited ( (AU:CC9) ) is now available.
Chariot Corporation has secured Nigerian government approval to transfer six lithium licences from Continental Lithium to their joint venture C&C Minerals, covering the entire Fonlo and Gbugbu exploration projects and two small-scale mining licences at Saki. The remaining four exploration licences at Saki and Iganna are expected to follow, after which Chariot plans to complete its acquisition of a 66.667% stake in the Nigerian lithium portfolio.
Once final paperwork is completed, Chariot and C&C Minerals will be able to launch high-priority exploration at the undrilled Fonlo and Gbugbu projects and pursue small-scale mining at Saki, marking the first entry of an ASX-listed lithium company into Nigeria’s emerging lithium sector. The approvals materially de-risk the transaction and position Chariot to capitalise on sharply higher lithium prices, while it also negotiates potential offtake and asset-level funding to accelerate drilling and development activities.
More about Chariot Corporation Limited
Chariot Corporation Limited is an ASX-listed resources company focused on lithium exploration and development. Through its joint venture vehicle C&C Minerals, the company is targeting hard-rock lithium pegmatite projects in Nigeria, aiming to establish a strategic foothold in a high-potential, largely underexplored West African lithium district that already supplies spodumene to Chinese buyers.
Average Trading Volume: 188,176
Technical Sentiment Signal: Sell
Current Market Cap: A$21.61M
For detailed information about CC9 stock, go to TipRanks’ Stock Analysis page.