trending Market Intelligence /marketintelligence/en/news-insights/trending/bheyhZoREC5kMeAhf93SDw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Pioneer inks another lithium option deal with International Lithium

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

Pioneer inks another lithium option deal with International Lithium

PioneerResources Ltd. is acquiring up to an 80% stake in InternationalLithium Corp.'s recently acquired Raleigh lithium project in Ontario, the second optiondeal Pioneer signedwith the latter since March, according to a July 13 press release.

Under the option deal, Pioneer may earn a 51% interest byspending nearly C$1.3 million on exploration activities within three years andpaying a total of C$250,000, in equal proportion of cash and shares, over theperiod.

International Lithium will be granted a 1.5% net smelterreturn royalty purchasable at any time for C$1.5 million following the firstearn-in.

Pioneer will either form a joint venture with additionaldevelopment expenditure met on a pro rata basis, or earn an additional 29% bycompleting a prefeasibility study within seven years. After that, the joint venturepartners will contribute on a pro rata basis.

If either party dilutes to 15% project equity, it willretire from the joint venture and revert to a 1.5% royalty.

Pioneer may participate in the acquisition of other lithiumproject opportunities identified by International Lithium Corp.