Lithium Plus advances Lei lithium project with key approvals, offtake deals

Lithium Plus Minerals Ltd. ( (AU:LPM) ) just unveiled an update.

Lithium Plus Minerals has reported steady progress at its Lei Lithium Development Project near Darwin, highlighting a growing mineral resource of 4.09Mt at 1.43% Li2O and strong metallurgical results with recoveries above 85% to high-grade concentrates. The project concept envisages an underground DSO operation with on-site crushing and road haulage to Darwin Port for export and processing in China, supported by a granted 20-year mining lease that reduces tenure and development risk.

The company has strengthened its commercial and downstream position through a non-binding offtake and potential financing MoU with Canmax Technologies for half of future production, alongside an agreement with the Dongying Comprehensive Bonded Zone in China to create an integrated trading and processing hub. Environmental approvals are advancing via the Supplementary Environmental Report pathway with a submission targeted for Q2 2026, and a 2026 drilling program will pursue resource growth, collectively positioning the project for a near-term development decision and clearer pathway to production.

The most recent analyst rating on (AU:LPM) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Lithium Plus Minerals Ltd. stock, see the AU:LPM Stock Forecast page.

More about Lithium Plus Minerals Ltd.

Lithium Plus Minerals Ltd. is an Australian lithium exploration and development company focused on advancing its 100%-owned Lei Lithium Development Project in the Northern Territory. The company’s strategy centres on a low-capital direct shipped ore operation supplying spodumene ore for downstream conversion into lithium hydroxide or carbonate for the global battery market.

Average Trading Volume: 90,260

Technical Sentiment Signal: Hold

Current Market Cap: A$15.28M

Learn more about LPM stock on TipRanks’ Stock Analysis page.