The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Chariot and Mustang Lithium LLC Repossess Horizon and Halo Lithium Projects

by August 30, 2024
August 30, 2024
Chariot and Mustang Lithium LLC Repossess Horizon and Halo Lithium Projects

Chariot Corporation Limited (ASX:CC9) (“Chariot” or the “Company”) owns 24.1% of Mustang Lithium LLC (“Mustang”), which through two wholly owned subsidiaries, is in the process of repossessing full, unencumbered ownership of the Horizon and Halo lithium projects located in the Big Smoky Valley claystone-hosted lithium play near Tonopah, Nevada, United States (see the ‘Property Option Agreements’ section below).

HIGHLIGHTS:

Chariot holds a 24.1% ownership interest in Mustang which is in the process of terminating property option agreements entered into by two of its wholly-owned subsidiaries with Pan American Energy Corp. (CSE Ticker: PNRG) and POWR Lithium Corp. (CSE Ticker: POWR), which will result in the subsidiaries’ repossession of full and unencumbered ownership of the Horizon and Halo lithium projects, respectivelyEach of Pan American Energy Corp. and POWR Lithium Corp. decided not to make the required payment of claims maintenance fees to the BLM and to surrender their respective interests in the mineral claimsMustang completed a capital raise of US$250,000 through the issue of convertible notes and has used the proceeds of the issuance to pay the maintenance fees to maintain its interest in the Horizon and Halo lithium projectsThe Horizon Lithium Project maiden Mineral Resource estimate comprises an Indicated category of 1.3 Mt lithium carbonate equivalent (“LCE”) (373 Mt @ 669 ppm Li) and an Inferred category of 8.8 Mt LCE (2,454 Mt @ 680 ppm Li), with an effective date of 15 November 2023

The Horizon Lithium Project maiden Mineral Resource estimate comprises an Indicated category of 1.3 Mt LCE (373 Mt @ 669 ppm Li) and an Inferred category of 8.8 Mt LCE (2,454 Mt @ 680 ppm Li), with an effective date of 15 November 2023.

Table 1: Horizon Lithium Project –Mineral Resource Estimate with an effective date 15 November 2023

The Horizon and Halo projects neighbor American Lithium Corp.’s (TSX-V Ticker: LI) TLC project (Mineral Resource Estimate of 10.69 million tonnes LCE1) and American Battery Technology Company’s (NASDAQ: ABAT) Tonopah Flats project (Mineral Resource Estimate of 18.63 million tonnes LCE2).

Chariot holds a 24.1% equity interest in Mustang and will have an equivalent indirect exposure to the Horizon and Halo lithium projects, upon repossession of the projects by Mustang’s subsidiaries.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Trump Presidency: A Threat to EV Growth and Battery Supply Chain Expansion?
next post
Forward Water Technologies Announces June 30, 2024 Financial Results

You may also like

Keith Weiner: All Roads Lead to Gold Right...

NVIDIA Q2 Stock Earnings: What Investors Need to...

Corazon Mining: Base and Precious Metals Development in...

Adrian Day: US$2,500 Gold? Pullback Would be “Healthy,”...

Crypto Market Recap: Sen. Ted Cruz Backs Bitcoin...

Lancaster Resources CEO Provides Comprehensive Update and Future...

5 Top Weekly TSXV Stocks: Noram Lithium Keeps...

Eclipse Advances Environmental and Social Impact Studies for...

Zodiac Gold Nominates Michael Demeter for Election to...

Fortune Minerals Announces Government of Canada Funding for...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Trump’s tax hike proposal is ‘déjà vu’ of George H. W. Bush’s...

    • Pope Francis-era deal with Chinese Communist Party again under scrutiny as Pope Leo takes the reins

    • Diver dies in preliminary operations to recover tech tycoon’s sunken superyacht

    • Metals and Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

    • Vance says India-Pakistan conflict ‘none of our business’ as Trump offers US help

    Categories

    • Business (1,633)
    • Investing (4,792)
    • Politics (7,543)
    • World (6,131)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top