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Core Lithium Ltd ( (AU:CXO) ) has issued an announcement.
Core Lithium has sold its non-core uranium assets, comprising the Napperby, Fitton and Entia projects in the Northern Territory and South Australia, to Elevate Uranium for a total consideration of $5 million in cash and shares, plus a 1.0% net smelter royalty over any production from the Napperby tenement. The divestment, which has now completed, frees up working capital and allows Core to sharpen its strategic focus on restarting its flagship Finniss Lithium Project while retaining some exposure to potential upside from the uranium portfolio via the royalty and its equity stake in Elevate Uranium.
The most recent analyst rating on (AU:CXO) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Core Lithium Ltd stock, see the AU:CXO Stock Forecast page.
More about Core Lithium Ltd
Core Lithium Ltd is an Australian hard-rock lithium company that owns the Finniss Lithium Operation near Darwin Port in the Northern Territory. The company is focused on generating sustained shareholder value from critical minerals exploration and mining, with operations underpinned by environmental, safety and social standards.
Average Trading Volume: 23,847,755
Technical Sentiment Signal: Hold
Current Market Cap: A$665.1M
For detailed information about CXO stock, go to TipRanks’ Stock Analysis page.