30
Oct
12:08
Ora Banda Mining, Wesfarmers ink $16.5m lithium JV deal
Gold miner Ora Banda Mining (OBM) has inked an AUD 26 million ($16.5m) lithium joint venture deal with Australian behemoth Wesfarmers’ subsidiary Brenahan Exploration, Kallanish finds.
Under the binding joint venture and farm-in agreement (BEPL), OBM will sell 65% of the lithium rights of its Davyhurst project in Kalgoorlie, Australia, to Brenahan for AUD 26m cash and 2% royalty. It will pay AUD 22.1m cash up front, with the remaining AUD 3.9m to be pa…
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