FBM sells Nevada lithium project to focus on WA assets
Australian firm Future Battery Minerals (FBM) has announced the sale of its 80% interest in the Nevada lithium project to a Texas-headquartered company for A$4-million in cash.
This sale will enable FBM to sharpen its focus on its Kangaroo Hills and Miriam lithium projects, in the Western Australian Goldfields region.
“While this asset offers large-scale claystone lithium development potential, we strongly believe that focusing on our highly prospective lithium assets in the WA Goldfields will deliver the best returns for our shareholders,” commented MD Nicholas Rathjen.
Once the transaction is complete in the fourth quarter, FBM will emerge with proforma cash of A$8.7-million.
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