THE BOURSE WHISPERER: PepinNini Lithium Limited (ASX: PPN) announced two transactions with Lithia Inc, a private company owned by Canadian LSC Lithium (TSX: LSC) in separate announcements on the ASX yesterday. By Jack Baker
PepinNini Lithium first announced it had secured all of Salar De Pular within Argentina from Lithia Inc.
The agreement involves an option to purchase Mina Patilla for US$1.075 million, the addition of which to PNN’s Pular Lithium Brine project will establish total ownership of the Salar on the Argentine side of the border.
Minutes later, the company announced a direct swap with Lithia Inc for its tenement on Salar de Incahuasi in exchange for tenure at PNN’s larger holding at Salinas Grandes.
PepinNini Lithium managing director Rebecca Holland-Kennedy said she was pleased to have negotiated a position in a more prospective area.
“While SG (Salinas Grandes) may still hold some potential, it is a huge area that is difficult to target and more expensive to explore,” Holland-Kennedy said in the company’s announcement to the Australian Securities Exchange.
“We are much more hopeful that the area we have obtained in Incahuasi will yield positive results, and we look forward to explore there in the near future, in a program that better fits with our aggressive exploration.”