Ann: Altura Negotiates Earn In Option for Nevada Lithium Project, page-24

https://thewest.com.au/business/mining/altura-looks-to-new-beginning-in-the-us-ng-b881862606z
Altura looks to new beginning in the US

Stuart McKinnonThe West Australian
Mon, 3 May 2021 3:05PMComments
Stuart McKinnon


The processing plant at the Altura mine site.


Collapsed lithium miner Altura Mining has emerged from receivership after being stripped of its core asset to announce a potential new venture in the US.

The company said today it had secured an option for a 60 per cent earn-in of Lithium Corporation’s Fish Lake Valley project in Nevada.

The project lies 35km west north-west of Albermarle’s producing and expanding Silver Peak lithium brine operation and in the same state as electric vehicle company Tesla’s gigafactory.

If formalised, the $US50,000 option agreement would involve Altura spending $US2m over four years in exploration at Fish Lake Valley as well as further staged cash and scrip payments to Lithium Corporation worth $US3.9m.

Altura’s former lenders called in receivers and managers to the company in October last year after months of unsuccessful negotiations over a refinancing plan for the heavily indebted miner.

It’s flagship asset was subsequently sold to rival Pilbara Minerals for $US175m.
Altura shares remain suspended, with the company seeking a re-quotation on the ASX.