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Advantage Lithium and Orocobre to Create Argentina’s Premier Lithium Explorer

Advantage Lithium and Orocobre to Create Argentina’s Premier Lithium Explorer

 

If there was any doubt about how serious Advantage Lithium was about becoming a premier lithium explorer and developer, those doubts will likely be non-existent now as the company announced it has entered into a letter of intent (“LOI”) with Orocobre Limited (“Orocobre”) – one of Argentina’s leading lithium producers – to acquire up to 75% of Orocobre’s Cauchari project and a 100% interest in five other lithium brine projects (the “Acquisition).

This portfolio of projects, comprising a total of 85,543 ha, are located in the northern provinces of Jujuy, Salta and Catamarca in Argentina’s lithium triangle. Following completion of the Acquisition, Orocobre will own 40,622,200 common shares of the Company, with a minimum ownership of 31.12% of the outstanding common shares of Advantage Lithium (calculated on a fully-diluted basis post capital raising). 

Advantage Lithium will be the operator of the projects. Furthermore, a joint venture will be formed between Advantage Lithium and Orocobre for the Cauchari project, which hosts an inferred resource of 470,000 tonnes of lithium carbonate equivalent (LCE)* and 1.62 million tonnes of potash (KCL)* from the combined northern and southern resource (from 230 million cubic metres of brine at ~380 mg/l Li and 3,700 mg/l K and a large exploration target of 5.6mt to 0.25Mt of LCE and 19mt to 0.9 of KCL(1). Cauchari is located just 10-20 km south Orocobre’s flagship Olaroz Lithium Facility.

The annoncement is a shot across the bow to would-be lithium explorers and developers. In a very short time the company now has established a presence in Nevada, a presence which includes startegic water rights with JV partner Nevada Sunrise (the only junior with certified water rights) the Lithium Triangle in Argentina and Mexico. 

Please click on the link for full details from the news release http://advantagelithium.com/advantage-lithium-and-orocobre-to-create-argentinas-premier-lithium-explorer/

 

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