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Wildcat Resources to Acquire Pegmatite Rights From Elevra Lithium Unit

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Wildcat Resources (ASX:WC8) agreed to acquire the pegmatite rights over exploration license E45/2364 from Sayona Lithium, a subsidiary of Elevra Lithium (ASX:ELV), for AU$16 million, along with the fixed and net smelter return royalties held by Attgold for AU$750,000, according to an Australian bourse filing on Thursday after market hours.

The consideration under the Elevra deal includes AU$5 million in cash, AU$8 million in the company shares, AU$3 million in deferred cash, and contingent payments of AU$0.70 per tonne for each tonne of Joint Ore Reserves Committee-defined pegmatite mineral resource declared within the license, per the filing.

Attgold will receive AU$500,000 in cash and AU$250,000 in the company shares under the separate agreement.

The company said the acquisitions strengthen its tenure position and allow it to optimize development of its wholly-owned Tabba Tabba lithium project near Port Hedland in Western Australia's Pilbara region.

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