Zijin agreed to accumulate all of Neo Lithium’s excellent shares for $6.50 per share in money in October 2021. In December, Neo Lithium’s shareholders permitted the transaction at a particular assembly.
“Zijin is within the technique of acquiring approval for the transaction from related authorities within the Folks’s Republic of China,” Neo Lithium said in a press launch.
The 35,000-hectare 3Q mission has measured and indicated sources of 5.3 million tonnes LCE at a median grade of 636 mg/l lithium.
A feasibility examine accomplished in October forecast a mine life of fifty years with common annual manufacturing within the first 20 years of 20,000 tonnes of battery grade LCE.
At an 8% low cost charge, the mission would generate a post-tax web current worth (NPV) of US$1.13 billion and a post-tax inside charge of return (IRR) of 39.5%.
At presstime, Neo Lithium was buying and selling at C$6.40 per share inside a 52-week buying and selling vary of C$1.92 and C$6.45. The corporate has 141.3 million frequent shares excellent for a market cap of C$904.6 million.
(This text first appeared within the Canadian Mining Journal)