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Lithium Australia snapping up German project in €2M deal

Lithium Australia NL agreed to acquire the Sadisdorf lithium-tin project in eastern Germany from Tin International AG in a €2 million deal, the company said June 11.

According to an estimate by CSA Global, the project has an inferred mineral resource of 25 million tonnes grading 0.45% lithium oxide. The company added that lithium was contained within lithium micas within alteration around the tin mineralization.

The project had been a joint venture. However, under the new agreement, Tin International will sell its interest in the property as well as the nearby Hegelshöhe exploration license.

Pending the consent of the German Mining Authority, Tin International will transfer 100% interest for a consideration of €2 million; €500,000 will be paid in cash, while the remaining €1.5 million will be paid in Lithium Australia shares.

Sadisdorf lithium project acquisition

THIS ARTICLE FIRST APPEARED IN S&P GLOBAL INTELLIGENCE
12 JUNE 2018