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Elevate Uranium Ltd ( (AU:EL8) ) has provided an announcement.
Core Lithium has completed the sale of its non-core uranium assets in the Northern Territory and South Australia to Elevate Uranium for a total consideration of A$5 million in cash and shares, plus a 1% net smelter royalty over any future production from the Napperby project tenement. The divestment, which delivers immediate working capital, is intended to sharpen Core’s strategic focus on restarting its flagship Finniss Lithium Project while retaining some exposure to potential future upside from the uranium portfolio via the royalty and equity stake in Elevate.
The most recent analyst rating on (AU:EL8) stock is a Hold with a A$0.29 price target. To see the full list of analyst forecasts on Elevate Uranium Ltd stock, see the AU:EL8 Stock Forecast page.
More about Elevate Uranium Ltd
Core Lithium Ltd is an Australian hard-rock lithium company listed on the ASX that owns the Finniss Lithium Operation near Darwin in the Northern Territory. The company focuses on exploring and developing critical minerals projects, with an emphasis on lithium, and aims to generate long-term shareholder value underpinned by strong environmental, safety and social standards.
Average Trading Volume: 1,788,176
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$123.4M
Find detailed analytics on EL8 stock on TipRanks’ Stock Analysis page.