Brief: Power Minerals Says Executes Binding Term Sheet With Summit For Incahuasi

Power Minerals

27/12/2023 24:49

Dec 27 (Reuters) - Power Minerals Ltd  PNN.AX :
    * POWER AND SUMMIT EXECUTE BINDING TERM SHEET FOR INCAHUASI
    * BINDING TERM SHEET FOR FUNDING AND DEVELOPMENT OF POWER'S
INCAHUASI SALAR AT SALTA LITHIUM PROJECT IN ARGENTINA'S LITHIUM
TRIANGLE
    * SUMMIT WILL SECURE A 30% INTEREST IN THE PROPOSED JV
    * PARTIES NOW PLAN TO ENTER INTO OPTION AND JOINT VENTURE
AGREEMENT, IN TWO STAGES
    * SUMMIT HAS OPTION TO EARN UP TO 45% IN PROJECT IF THEY
CONTRIBUTE ON-SITE DEMONSTRATION PLANT (UP TO 1000T) TESTING,
AMONG OTHERS

Source text for Eikon:  ID:nASXbXJDN 
Further company coverage:  PNN.AX 

 ((Reuters.Briefs@thomsonreuters.com;))