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Esports Mogul Limited ( (AU:LU7) ) just unveiled an announcement.
Lithium Universe Limited has secured a binding 10-year, rolling offtake agreement with Norah Mining Limited for up to 80,000 tonnes per annum of 6% Li₂O spodumene concentrate from the Norah Lithium Project in Nigeria, starting in late 2026. The feedstock will underpin operations at the planned Bécancour Lithium Refinery in Quebec and supports the company’s strategy to close the conversion gap in North America, while also granting Lithium Universe a partner price discount, trading opportunities in the open market prior to refinery start-up, and a right of first participation in any change-of-control transaction at Norah Mining. Lithium Universe will purchase the spodumene outright and retain full ownership and marketing rights over the resulting lithium carbonate, a structure that reinforces its positioning as an emerging North American refiner. The company highlights that a sharp recovery in battery-grade lithium carbonate prices, now above the conservative assumptions used in its definitive feasibility study, strengthens the project’s economics and is catalysing renewed engagement with suppliers, customers, governments and financiers, potentially improving returns for stakeholders and advancing Bécancour ahead of competing projects.
The most recent analyst rating on (AU:LU7) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Esports Mogul Limited stock, see the AU:LU7 Stock Forecast page.
More about Esports Mogul Limited
Lithium Universe Limited is an Australian-listed company focused on developing lithium refining capacity in North America, anchored by its planned Bécancour Lithium Refinery in Quebec. The refinery is designed to produce battery-grade lithium carbonate for the electric-vehicle and energy-storage markets, aligning with Canadian critical minerals strategies and targeting integrated supply chains across Canada and the United States.
Average Trading Volume: 2,446,161
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$17.78M
For detailed information about LU7 stock, go to TipRanks’ Stock Analysis page.