Lithium Australia Divests Assets to Core Lithium

Lithium Australia NL (AU:LIT) has released an update.

Lithium Australia NL has sold its 7.6 million shares in Charger Metals and its 30% interest in the Bynoe Lithium Project to Core Lithium Ltd, enhancing its financial position for ongoing activities. The deal includes the potential to benefit from a future takeover of Charger Metals within 9 months, ensuring Lithium Australia can capture additional value. This strategic move allows the company to focus on its core operations and growth initiatives while providing immediate liquidity from the share transaction.

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