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Li-FT Power Ltd. ( (TSE:LIFT) ) just unveiled an update.
Li-FT Power has signed a definitive project acquisition agreement with Azimut Exploration to acquire Azimut’s 50% interest in the Galinée property in Quebec, which hosts wide, high-grade lithium-bearing pegmatites adjacent to Winsome Resources’ Adina deposit. The consideration comprises 2 million Li-FT common shares, a 1.4% net smelter return royalty on the Galinée property, and a deferred payment of $1.5 million in cash or shares upon completion of an economic study or within 18 months, subject to customary closing conditions and TSX Venture Exchange approval. The Galinée acquisition strengthens Li-FT’s portfolio of Canadian lithium assets and consolidates a strategically located project with multiple well-defined prospects and newly identified spodumene-bearing boulder fields, potentially enhancing its exploration pipeline and positioning within the emerging North American lithium supply chain.
Spark’s Take on TSE:LIFT Stock
According to Spark, TipRanks’ AI Analyst, TSE:LIFT is a Underperform.
Li-FT Power Ltd. struggles with significant financial challenges, including zero revenue and persistent losses, which heavily impact its stock score. The technical analysis is bearish, and the valuation is unattractive due to a negative P/E ratio. Although recent corporate events indicate potential growth, they are insufficient to outweigh the current financial difficulties. The stock is rated poorly due to its weak financial performance and technical indicators.
To see Spark’s full report on TSE:LIFT stock, click here.
More about Li-FT Power Ltd.
Li-FT Power Ltd. is a Canadian mineral exploration company focused on the acquisition, exploration and development of lithium-bearing pegmatite projects. Its flagship asset is the Yellowknife Lithium Project in the Northwest Territories, complemented by three early-stage lithium exploration properties in Quebec with strong potential for buried pegmatite discoveries, as well as the Cali Project in the Little Nahanni Pegmatite Group, also in the Northwest Territories.
Average Trading Volume: 47,465
Technical Sentiment Signal: Buy
Current Market Cap: C$212.1M
For detailed information about LIFT stock, go to TipRanks’ Stock Analysis page.