Dear Haoma Shareholder/Friend
Attached is today’s Haoma Mining Special Report toShareholders with details of Haoma’s sale of a 30% shareholding in PirraLithium to SQM Australia.
Highlights of today’s report include:
- SQM to pay Haoma $2.5 million for 15 million shares in Pirra Lithium.
- Haoma has agreed to sell the lithium rights for Additional Tenements to Pirra Lithium. The Additional Tenements are located at Haoma’s Soansville exploration group. As consideration for the lithium rights in the Additional Tenements Pirra Lithium has committed to spend a minimum $500,000 exploration expenditure on the Additional Tenements over 18 months and
- Pirra Lithium will issue 7,500,000 performance rights to Haoma which are convertible into Pirra shares on a 1:1 basis should a JORC Mineral Resource of >20mt @ >1.0% Li2O be delineated on the Additional Tenements within 3 years following completion of the Additional Tenements Term Sheet.
Following completion of the share sale between Haomaand SQM, SQM has committed to fund Pirra Lithium via a share issue of 15million Pirra Lithium shares to raise $3 million. Calidus Resources hascommitted to fund Pirra Lithium via a share issue of 10 million Pirra Lithiumshares to raise an additional $2 million.
Following completion of all transactions for the ShareSale Agreement and the new issues of Pirra Lithium securities the finalholdings in Pirra Lithium will be:
Calidus ResourcesLtd 40%.
SQM Australia Pty Ltd 40%
Haoma MiningNL 20%
