Lithium Australia sells legacy shares and NT asset
Charger Metals may have rebuffed Core Lithium's attempt at a takeover, but the owner of the suspended Finniss lithium mine isn't giving up on its dreams.The cashed-up Core has secured a 9.8% stake in Charger by issuing 6.08 million new shares to Lithium Australia, valued at around A$540,000 for 0.3% of Core, and will spend $500,000 cash buying some exploration assets surrounded by Finniss.
Core, which has around $88 million in cash, described its investment in Charger as being "strategic", giving it access to an explorer with a significant position on the Lake Johnston belt in Western Australia with Rio Tinto and access to any discoveries that would be within trucking distance of its existing processing infrastructure.Core paid the equivalent of 7.1c per Charger share, a modest discount to its last close of 8c.
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