Big call Mistie and you seem to do your homework, but have you considered that Buldania and surrounds have barely been scratched so far - see below.
Michael.
LAND STATUS
The Buldania Project comprises three areas which were acquired from separate parties:
Buldania Lithium Rights Agreement (BLRA);·
Killaloe; and
Norcott BLRA
The original Buldania Lithium Rights Agreement (BLRA) was acquired from Avoca Resources Pty Ltd, a wholly owned subsidiary owned by RNC Minerals (previously Westgold Resources Limited), in October 2017. It included one granted Exploration Licence (EL 63/856) and one granted Prospecting Licence (PL63/1977). Mining Lease M63/674 was incorporated into the BLRA in November 2018 in return for Liontown issuing 10 million shares to Westgold Resources Limited.Other than a state statutory royalty, there are no royalties in relation to the BLRA.Avoca retains the rights to all other metals (excluding lithium and related metals) and has priority access for exploration.
Killaloe
The Killaloe Project area is located immediately west of the BLRA, totals ~140km2 and comprises four granted Exploration Licences (ELs 63/1018, 1655, 1660 and 1713), one granted Mining Lease (M 63/177) and one Prospecting Licence Application (PL63/2134).EL 63/1018 is subject to an agreement with Cullen Exploration Pty Ltd, with Cullen owning 20% of the tenement. All other tenements are 100%-owned by LRL (Aust) Pty Ltd, which is a wholly-owned subsidiary of Liontown Resource Limited.The Project was acquired from Matsa Resources Limited for 20 million fully-paid ordinary shares, at a deemed value of 3cps. In addition Matsa retains a 1% NSR for all minerals produced by Liontown.
Norcott
The Norcott Project is located ~ 5km south of the BLRA and comprises two exploration licence applications (ELA 63/1824 and EL 63/1863) - which cover a contiguous area of approximately 370km2.Liontown acquired 100% of the mineral rights for Norcott tenements from private group Galahad Resources Pty Ltd.
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