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Todd River Resources Ltd. ( (AU:XRA) ) has shared an announcement.
Xenora Minerals has elected to proceed to Stage 1b of its farm-in agreement with South Australia Lithium Pty Ltd on the Dudley Lithium Project, paying A$37,500 in cash and issuing A$100,000 in shares, escrowed for six months, as part of its path to earn an initial 51% interest. The company must complete A$700,000 in total Stage 1 exploration expenditures by January 2027, with A$446,954 already spent, while progressing key permitting and access arrangements including an extended landowner access and compensation agreement and the imminent submission of an E-PEPR application for RC drilling planned for 2026. If Stage 1 conditions are met, Xenora can move to Stage 2 to lift its stake to 90% via further cash, share payments and aggregate exploration spending of A$1.4 million, positioning the company to secure a dominant interest in the project, though failure to advance would leave it with a smaller joint-venture interest or no stake at all.
The most recent analyst rating on (AU:XRA) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Todd River Resources Ltd. stock, see the AU:XRA Stock Forecast page.
More about Todd River Resources Ltd.
Xenora Minerals Limited (ASX: XRA) is an Australian exploration company focused on lithium, targeting growth in the battery minerals sector through farm-in agreements and exploration projects such as the Dudley Lithium Project on Kangaroo Island in South Australia.
Average Trading Volume: 158,599
Technical Sentiment Signal: Sell
Current Market Cap: A$14.22M
Find detailed analytics on XRA stock on TipRanks’ Stock Analysis page.