Calidus soars as SQM joins lithium JVMEGAN NEILShares in gold...

Calidus soars as SQM joins lithium JVMEGAN NEILShares in gold company Calidus Resources soar as Chilean lithium giant SQM buys into its Pilbara lithium joint venture.Calidus says SQM subsidiary SQM Australia is buying 30 per cent of Pirra Lithium from Haoma Mining and will ultimately increase its ownership to 40 per cent by providing $3m to fund further exploration."SQM’s acquisition of a large stake in Pirra is a big vote of confidence in the prospectivity of the company’s lithium exploration acreage in the Pilbara," Calidus managing director Dave Reeves says. "With an increased landholding of over 1411sq km in the Pilbara, Pirra is now funded to rapidly progress exploration across these tenements."Calidus will ultimately retain 40 per cent ownership of Pirra by injecting $2m to fund exploration."Calidus will maintain its position in Pirra at 40 per cent due to the significant potential of the land package and will reassess its options for this holding as exploration continues," Mr Reeves says. "In line with this approach, there is no plan to seek an IPO of Pirra in the immediate term."Calidus shares are up 15.4 per cent to 15c, after earlier jumping as high as 16.5c.1 HOUR AGO