Usha Resources Outlines Jackpot Lake Project Deal

Usha Resources (TSE:USHA) has released an update.

Usha Resources Ltd. has announced their congratulatory message to Stardust Power, Inc. for its NASDAQ listing and detailed an LOI that could lead to Stardust Power acquiring a 90% interest in Usha’s Jackpot Lake Lithium Brine Project. The deal, worth up to US$26,025,000, includes various cash, stock payments, and a work commitment, with Usha retaining a 10% project interest and 2% NSR. Stardust Power’s nascent lithium refinery in Oklahoma aims to support the U.S. EV market with a capacity to produce 50,000 tons of lithium carbonate annually.

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