https:// w w w . marketscreener. com/quote/stock/INTERNATIONAL-LITHIUM-COR-49476405/news/International-Lithium-to-Receive-AUD-750-000-Payment-for-the-Mavis-Lake-Lithium-Project-Ontario-Ca-44310823/
International Lithium to Receive AUD$750,000 Payment for the Mavis Lake Lithium Project, Ontario, Canada
Today at 14:05
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The payment represents ILC's 50% portion of the first AUD$1,500,000 payment made payable to the vendors of the project if certain milestones are reached. The other vendor is Essential Metals Limited (ASX: ESS, "ESS").
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On July 3, 2023, CRR announced that extension drilling is underway at Mavis Lake with the goal to increase the size of the mineral resource, therefore, the board of ILC believes there is a good possibility that the second milestone could be reached in the next few months resulting in an additional AUD$750,000 payable to ILC.
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ESS Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
