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Lithium Australia did not exercise option to acquire Youanmi lithium project

Lithium Australia NL said Sept. 27 that its option to acquire the Youanmi lithium project in Western Australia has expired.

The company continues to negotiate with the owner over commercial terms.

In June, Lithium Australia said that it is raising up to A$6.5 million via rights issuance, which will be used for several purposes, including exploration on the Youanmi project.