THE BOURSE WHISPERER: Ardiden (ASX: ADV) informed the market of the execution of a binding Tenement Option and Acquisition Terms Sheet granting an option to Great Northern Lithium to buy 80 per cent of Ardiden’s lithium portfolio.

Total consideration for the 80 per cent stake is up to $8.7 million that, should it be exercised, completion of the acquisition will be subject to conditions, including shareholder and regulatory approvals.

Ardiden would retain a 20 per cent free-carry to completion of either a Bankable Feasibility Study (BFS) or Decision to Mine.

“Ardiden has been actively evaluating strategic options to best realise the full potential of its lithium assets,” Ardiden non-executive chairman Neil Hackett said in the company’s ASX announcement.

“The prospect of selling 80 per cent of Ardiden’s lithium portfolio to a new, lithium-focused entity provides an opportunity to accelerate exploration and development of these quality assets within the booming battery metals sector.

“These assets are strategically located near the USA border, with easy access to existing infrastructure.

“If they exercise the option, teaming with experienced lithium developers, while retaining a 20 per cent free carry, enables Ardiden to unlock value for shareholders, while retaining some upside exposure to the battery metals market.”

Great Northern Lithium is a newly formed Australian company led by an experienced team with significant global lithium exploration, mining, production, and offtake expertise that is focussed on exploring and developing hard rock lithium deposits in North America.

The deal will enable Ardiden to focus on gold exploration at its Pickle Lake gold project in north-west Ontario, Canada.

“Monetising 80 per cent of our lithium portfolio provides exploration capital to Ardiden, which will be deployed at its highly prospective package of gold prospects at the Pickle Lake gold project,” Ardiden managing director and CEO Rob Longley said.

“GNL will benefit from our in-country experience and existing relationships with First Nation Communities as well as bringing their own expertise in management, marketing, evaluation and development of these strategically-located spodumene-hosted lithium deposits in a booming North American region for critical metal project development.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: info@ardiden.com.au

Web: www.ardiden.com.au

THE BOURSE WHISPERER: Ardiden Limited (ASX: ADV) reminded the market that apart from its Canadian gold projects it also has 100 per cent-owned hard-rock lithium projects.

Ardiden holds full ownership of three high-grade, low impurity lithium projects, comprising 95 square kilometres.

This lithium portfolio includes a 4.8 million tonnes at 1.25 per cent lithium (Li2O) JORC Resource and an Exploration Target of a further 4.5 to 7.2 million tonnes at 0.8-2 per cent Li2O at the Seymour Lake lithium deposit.

Metallurgical testwork by Ardiden on Seymour concentrate confirmed achievement of +99.5 per cent Standard Battery grade Lithium Carbonate product.

Ardiden indicated it is exploring strategic alternatives for its lithium projects to unlock shareholder value, including options such as retention, potential sales, spin-offs, joint ventures or business collaborations, subject to shareholder and regulatory approvals, as required.

“Ardiden is well positioned to extract benefit from re-invigorated interest in the Critical Minerals sector,” Ardiden managing director and CEO Rob Longley said in the company’s ASX announcement.

“Lithium is a key ingredient in rechargeable batteries used in electric vehicles (EV’s).

“The company’s three high-grade lithium projects are in close proximity, and well connected to the rapidly expanding US EV battery market.

“While we remain firmly committed to our gold exploration at Pickle Lake, have received significant interest in our lithium assets and are working diligently to deliver the best possible value to Ardiden shareholders.”

ROB LONGLEY RECENTLY SPOKE WITH THE RESOURCES ROADHOUSE ABOUT THE LITHIUM PROJECTS: WATCH IT NOW

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: info@ardiden.com.au.au

Web: www.ardiden.com.au