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