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Metalicity Limited ( (AU:ARI) ) just unveiled an announcement.
IRIS Metals Limited has entered into a binding agreement to divest its Kookynie Gold Project to Arika Resources Limited. This strategic move allows IRIS to concentrate on its core lithium exploration and development programs in South Dakota, USA, while providing non-dilutive funding and equity exposure through ARI shares. The transaction is expected to enhance shareholder value and support IRIS’s growth initiatives in the lithium sector.
More about Metalicity Limited
IRIS Metals Ltd (ASX:IR1) is an exploration company with a focus on hard rock lithium assets located in South Dakota, USA. The company is positioned within the battery metals space and benefits from US government incentives for locally sourced critical minerals. The Black Hills region, where IRIS operates, is known for its rich history in mining and significant lithium spodumene deposits.
YTD Price Performance: 55.56%
Average Trading Volume: 3,449,027
Technical Sentiment Signal: Sell
Current Market Cap: A$36.18M
For a thorough assessment of ARI stock, go to TipRanks’ Stock Analysis page.