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Lithium Americas Corp., which is advancing the Thacker Move lithium undertaking north of Winnemucca, has announced it has entered into an agreement to receive shares of Inexperienced Engineering Metals Ltd. (GT1) in a share placement for a full thought of $10 million.
GT1 is a North American concentrated lithium exploration and development corporation with difficult rock spodumene assets in northwest Ontario, Canada.
“GT1’s group provides a potent observe document of lithium exploration and useful resource extraction, which suits very well with Lithium Americas’ know-how in chemical processing,” explained Jon Evans, Lithium Americas’ president and CEO. “With this preliminary financial investment, we glimpse forward to functioning intently with GT1 to help speed up the advancement of a North American lithium source chain.”
GT1’s CEO, Luke Cox, commented, “We are delighted to welcome Lithium Americas to the GT1 sign up. In blend with our existing strategic delivery companions and main shareholders, Primero and AMCI, we seem forward to doing the job with Lithium Americas in executing on our intense project development and progress ideas in excess of the subsequent number of many years.”
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Lithium Americas’ investment in GT1 is part of a share placement of roughly $40 million. Upon closing of the share placement, Lithium Americas expects to individual about 5% of GT1.
In addition to its $10 million placement, Lithium Americas has entered into a non-binding collaboration framework with GT1 to progress analysis of a strategically situated, integrated lithium chemical compounds company in North The united states.
The framework enables for the analysis of likely cooperation involving the two enterprises in relation to all elements of the lithium processing and generation worth chain, from the processing of spodumene via to the production of battery-quality lithium substances. It is established to leverage off and advantage from the abilities inside of each enterprises with regard to the manufacturing of both equally intermediate and remaining lithium products.
Lithium Americas has a technological information base inside of lithium chemical merchandise and downstream lithium processing, which the organization says complements GT1’s upstream mining and spodumene processing abilities and the prepared development pathway for its Ontario lithium tasks.
The guiding principles of the framework incorporate both equally functions functioning together in in search of to leverage Lithium Americas’ Lithium Technical Improvement Center in Reno to further exam and create intermediate and closing lithium products together with creating midstream and downstream processing routes for battery-quality lithium chemical compounds in Ontario and across North The us and advancing development ideas and project funding for an integrated lithium chemical substances small business.
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