So some things that make me curious are;
1) What kind of relationship exists between American Lithium and Lithium Corporation apart from the rather generic names.
Back in 2016, a few months after signing the (unconsummated ) earn in deal on Fish Lake Valley, American Lithium signed a second earn in deal;
[08/06/2016 Lithium Corporation Partners Again with American Lithium on San Emidio Prospect]
Elko, NV – June 8, 2016 – Lithium Corporation [OTCQB – LTUM] “the Company” is pleased to announce that it has received the initial payment of the San Emidio Exploration Earn-In Agreement, and received notice that American Lithium Corp. (TSX-V LI) is buying all the outstanding share capital of 1067323 B.C. LTD., a private British Columbia company, who recently optioned an interest in the San Emidio lithium brine property in Washoe County, Nevada from Lithium Corporation.
American Lithium recently also assumed the responsibilities with respect to a similar option on the Company’s Fish Lake Valley lithium brine prospect
The terms of the agreement are; payment of $100,000, issuance of 300,000 common shares of American Lithium Corp., and work performed on the property by the Optionee in the amount of $600,000 over the next three years to earn an 80% interest in the property. American Lithium then has the option to purchase Lithium Corporation’s remaining 20% working interest within three years of earning the 80% by paying the Company a further $1,000,000, at that point the Company would retain a 2.5% Net Smelter Royalty, half of which may be purchased by American Lithium for an additional $1,000,000. Should American Lithium elect not to exercise the subsequent buy out, a joint venture will be established.
Mr. Brian Goss, president of Lithium Corporation recently stated, “I am extremely pleased that we are partnering again with American Lithium Corp., and especially look forward to working with Mike Kobler – American Lithium’s president on this project.”
etc (NB the specific mention of
ALTURA)
What has become of this ?
Does anyone know?
2) And
how/if does the private British Columbian private company mentioned above, (that the annual report linked in the post above said had a shared director with Lithium Corporation?) fit in with an Altura connection since 2012?
3) Does Lithium Corporation have any other ventures on the go with American Lithium?
4) In May 2019 when American Lithium’s earn in deal on the LithiumCorp. Fish Lake Valley tenements was terminated;
[Lithium Corporation Regains Full Control of Fish Lake Valley Property], LithiumCorp said;
”The Company intends to concentrate its time and resources in the short term reviewing the work done by the Optionee during the past three years,
following this a plan will be formulated for developing the Fish Lake Valley property.”
- What’s been happening in the last two years?
cheers
(20min delay)