Brief: Leo Lithium Says MoU Signed With Mali Government

Leo Lithium

08/05/2024 03:23

May 8 (Reuters) - LEO Lithium Ltd  LLL.AX :
    * MOU SIGNED WITH MALI GOVERNMENT AND SALE OF ENTIRE PROJECT
TO
GANFENG
    * MOU INCLUDES A US$60 MILLION SETTLEMENT WITH MALI
GOVERNMENT
RESOLVING ALL OUTSTANDING ISSUES
    * EXECUTED BINDING SALE AND PURCHASE AGREEMENT WITH GANFENG
FOR
SALE OF LEO LITHIUM'S REMAINING 40% INTEREST IN GOULAMINA FOR
$342.7 MILLION
    * GOULAMINA PROJECT REMAINS ON TRACK FOR FIRST SPODUMENE
PRODUCTION IN Q3, 2024
    * TO NOVATE MANAGEMENT RIGHTS TO GANFENG, WILL ACT AS
CONTRACTOR
TO GANFENG LIKELY INTO Q4 2024
    * GANFENG TO COMPENSATE LEO LITHIUM FOR TERMINATION OF
CO-OPERATION AGREEMENT

Further company coverage:  LLL.AX 

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