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- Piedmont Lithium (ASX:PLL) is set to acquire a 19.9 per cent equity interest in Vinland Lithium for C$2 million in cash
- The company will acquire an interest in Vinland’s large lithium project in Newfoundland, Canada
- Through a series of staged investments, PLL could earn a 62.5 per cent stake in Killick
- Killick boasts a substantial land package, encompassing around 60 kilometres of highly prospective strike length
- PLL shares are up 2.27 per cent, trading at 56.3 cents at 2:21 pm AEDT
Piedmont Lithium (ASX:PLL) is set to acquire a 19.9 per cent equity interest in the newly formed Vinland Lithium for C$2 million (A$2.3 million) in cash.
The company will have the potential to, through staged investments, secure up to a 62.5 per cent stake in Vinland’s Killick lithium project.
Vinland Lithium was established through Sokoman Minerals and Benton Resources.
Killick boasts a substantial land package, encompassing around 60 kilometres of highly prospective strike length.
“The Killick lithium project comprises a vast land package in an atttractive jursidiction, our team has visited the site on multiple occasions and conducted extensive duediligence,” PLL CEO Patrick Brindle said.
Piedmont will possess full entitlement to 100 per cent of marketing rights and will exercise all rights of refusal regarding any offtakes concerning the lithium concentrate produced at the project.
PLL shares were up 2.27 per cent, trading at 56.3 cents at 2:21 pm AEDT.
