Join our daily newsletter At The Bell to receive exclusive market insights
Chariot Corporation (ASX:CC9) has acquired a 66.7% interest in a “highly prospective” hard rock lithium portfolio in Nigeria that stretches 254 square kilometres and boasts lithium-bearing pegmatites across its four projects.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The Australian explorer has forked out US$1.5 million in cash and 42 million shares to scoop up the package, which Chariot Corp’s managing director, Shanthar Pathmanathan, described as extremely strategic.
“We’re delighted,” he told HotCopper in a Watchlist interview this week.
“We’ve moved into one of the most strategic places in the world of lithium in Nigeria… [which has] been emerging as a hub for lithium for 10 years.”
“These portfolios wouldn’t be available [to Chariot] in a stronger market so this is a counter-cyclical opportunity for the company,” Mr Pathmanathan said. “Individually, each project could be a Pilbara Minerals-type discovery.”
CC9 shares have been up +3.64% through the week since the buy-up.
Join the discussion: See what HotCopper users are saying about Chariot Corporation Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
