Ann: Strategic Lithium Acquisition in Portugal-DKO.AX, page-42

Dakota is better known Down Under for its Lynas Find lithium project​

ASX companies target Europe lithium

• 02 Jun 2016
• 11:14

Mining Journal |
Once again, lithium is a big story, and no more so than for Australian companies.
Dakota Minerals said it was targeting Portugal, while Capital Mining was looking at Ireland.
In Portugal, Dakota was acquiring rights for a package of tenements in three regions said to be highly prospective for spodumene and petalite-hosted lithium pegmatites.
Dakota is better known Down Under for its Lynas Find lithium project in the Pilgangoora region of Australia.
David Frances, MD of Dakota said: “We see Europe as an instrumental part of the growing electric vehicle (EV) market, with likely the highest EV penetration rate in the near term.”
He said electric vehicles already accounted for 22% of all new-vehicle sales in Norway.
The acquisition could cost Dakota more than €1 million (US1.1 million), depending on the outcome of definition work on the acquired tenements. The Portuguese seller is Lusorecursos.
Another ASX-listed company, Capital Mining, has also landed in Europe. It has just signed a binding agreement to acquire Wolfhound Lithium, owner of seven prospecting licence applications in the Republic of Ireland.
Capital will issue 15-million shares to Wolfhound, followed by a 50-million share settlement upon completion of the acquisition.
Lithium has also attracted the attention of AIM-listed Savannah Resources which has applied for reservation permits over two lithium projects in Finland.
Geological mapping by the Finnish government within the project areas has highlighted the presence of key lithium minerals spodumene, lepidolite and petalite, said the company.
David Archer, Savannah’s CEO added the lithium carbonate price had risen "from around US$8/kg to over US$25kg in 12 months due to supply shortages".