Stockhead’s Sarah Hughan sits down with Lithium Energy’s executive chairman William Johnson to get the short end of the long story on the company’s latest news.
The company has agreed to sell its 90% interest in the Solaroz lithium brine project in Argentina to CNGR – one of the world’s largest producers of precursor materials for leading companies in the battery materials supply chain – for about $97 million in cash.
LEL’s Johnson explained that following the conclusion of a bid to find a strategic partner for the development of Solaroz, the Board determined that it was in the best interest of shareholders to consider the sale of the company’s interest in the project on the terms proposed by CNGR.
Tune in to hear Lithium Energy’s William Johnson on the conditions of the sale, and what lies ahead for the company.