An Australian company says it has leased more acreage for lithium brine production in Lafayette County.
Pantera Minerals Limited of Perth has acquired 1,724 acres for its Superbird Project. It now has a land position of 12,103 leased acres of lithium brine prospective ground in the Smackover Formation, with a further 9,000 acres under negotiation.
In December, Pantera entered into a Binding Implementation Agreement with Daytona Lithium Pty Ltd for the purchase of 100% of the issued shares in Daytona Lithium. Daytona Lithium is the holder of the Superbird Project.
The company currently has the right to acquire up to a 35% interest in the issued share capital of Daytona Lithium, pursuant to a $2 million Convertible Note Facility, however it has not converted any of the convertible notes into shares in Daytona Lithium at this time.
The Superbird Project is located in the Smackover Formation, a known high grade brine formation. The formation is host to several lithium brine explorers and producers, Exxon Mobil, Standard Lithium), Tetra Technologies and Albemarle Corporation. The Pantera lease is west of ExxonMobil’s westernmost leases in Lafayette County, generally west of the Canfield community and north of Bradley.
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