Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Jindalee Spin-Out Dynamic Metals Signs $20M JV with Mineral Resources

by March 13, 2024
March 13, 2024
Jindalee Spin-Out Dynamic Metals Signs $20M JV with Mineral Resources

Jindalee Lithium Limited (ASX: JLL) is a pure-play US lithium company focussed on the development of the giant McDermitt Lithium Project, currently the largest lithium deposit in North America. Jindalee also provides shareholders with indirect exposure to lithium, gold, base and strategic metals, iron ore, uranium and magnesite in Australia through holdings in spin-out companies Dynamic Metals (ASX: DYM) and Energy Metals (ASX: EME).

Mineral Resources to pay Dynamic Metals $5M cash and spend $15M on exploration over 4 years to earn 65% of the lithium rights at Dynamic’s Widgiemooltha Project, and can increase to 80% by sole funding to Decision to Mine
Dynamic was spun-out of Jindalee in January 2023 with Jindalee shareholders receiving a priority offer to subscribe for Dynamic shares in the IPOJindalee remains Dynamic’s largest shareholder with 25.5% of issued capital

On 5 March 2024, Dynamic Metals (ASX: DYM) (Dynamic) announced a binding joint venture and farm-in agreement with Mineral Resources (ASX: MIN) (MinRes)1 whereby MinRes can earn up to 80% of the lithium rights at Dynamic’s Widgiemooltha Project (WA) (Project) in three stages (subject to satisfaction of certain conditions):

1. Dynamic sells 40% of its lithium rights at the Project to MinRes for $5M cash,

2. MinRes can sole fund $15M of exploration over 4 years to increase its interest to 65%,

3. MinRes can elect to increase its interest to 80% by sole funding expenditure to a Decision to Mine. Further information on Dynamic can be found at Dynamic’s website (www.dynamicmetals.com.au).

Jindalee congratulates the Dynamic team on this landmark transaction with MinRes and looks forward to early exploration success at Widgiemooltha, and other projects in Dynamic’s extensive portfolio.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
WFC Stock: A Step-By-Step Analysis to Better Time Your Entry
next post
Bitcoin Well Announces Instant Buy in the USA and Provides Early March Signup Data

Related Posts

Prospect Ridge Resources: Emerging Precious Metals Explorer Near...

May 17, 2024

Placement of Shortfall and Cleansing Notice

February 26, 2025

Tartana Drilling to Verify Upgrading of 45,000 Tonne...

May 1, 2024

Graphite Market Forecast: Top Trends That Will Affect...

December 14, 2023

White Gold Corp. Commences Maiden Diamond Drilling at...

August 16, 2023

Falco Resources

April 26, 2024

Silver North Announces Closing of Second Tranche of...

June 29, 2024

Top 7 Canadian Lithium Stocks of 2024

April 16, 2024

Quetzal Copper Samples 3.8 M of 2.4% Copper...

April 27, 2024

Bitcoin Well Receives Receipt for Final Base Shelf...

March 8, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Fed Watch: Key Bullish Patterns in the S&P 500, Utilities, and Crypto

    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

    • Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

    • Drill Contract Awarded for Elizabeth Hill. Technical Visit Completed to Define Drill Targets

    • $2.6M Placement and SPP to fast-track China entry and sales

    • NorthStar Gaming Announces Receipt of Management Cease Trade Order

    Categories

    • Business (1,183)
    • Investing (2,407)
    • Politics (3,699)
    • Stocks (1,553)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved