Brief: Deutsche Rohstoff Agrees To Lithium Exploration In Western Australia

Deutsche Rohstoff AG

21/03/2022 07:16

March 21 (Reuters) - DEUTSCHE ROHSTOFF AG  DR0G.DE :
    * TERMS AGREED FOR LITHIUM EXPLORATION IN WESTERN AUSTRALIA
AND
ESTABLISHMENT OF A LITHIUM SUBSIDIARY
    * ANALYSTS ARE FORECASTING A SIGNIFICANT SUPPLY DEFICIT BY
2030
    * WILL FUND ACQUISITION AND DUE DILIGENCE PHASE WITH UP TO
1.0
MILLION AUD AND WILL HOLD A 70% SHARE IN PROJECTS, WITH SENSORE
HOLDING REMAINING 30%
    * LITHIUM RAW MATERIAL PRICES HAVE RISEN MASSIVELY IN PAST
YEAR
    * UPON SUCCESSFUL ACQUISITION, AN INITIAL EXPLORATION BUDGET
OF 4
MILLION AUD (2.6 MILLION EUR) HAS BEEN AGREED TO FUND
EXPLORATION ACTIVITY OVER ALL TARGETS (2.8 MILLION AUD
CONTRIBUTED BY DEUTSCHE ROHSTOFF AG AND 1.2 MILLION AUD BY
SENSORE)

Source text for Eikon:  ID:nEQ8T6H0qa 
Further company coverage:  DR0G.DE 

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