Chariot Corporation Acquires Majority Stake in Nigerian Lithium Portfolio

Chariot Corporation Ltd (ASX: CC9) has signed a binding share sale agreement to acquire a 66.7% interest in a portfolio of Nigerian hard-rock lithium projects from Continental Lithium Limited. The transaction will see the formation of a joint venture entity, C&C Minerals Limited, with Chariot as the controlling shareholder and Continental retaining a 33.3% stake.

The portfolio spans approximately 254 km² across four key project clusters—Fonlo, Gbugbu, Iganna, and Saki—located in Nigeria’s Oyo and Kwara States. All tenements (eight Exploration Licences and two Small-Scale Mining Leases) feature lithium-bearing pegmatites and remain undrilled, presenting substantial exploration upside. Chariot will pay US$1.5 million in cash and issue 42 million fully-paid ordinary shares for its stake. Additionally, it has committed to investing at least US$10 million in the joint venture. The deal gives Chariot early-mover exposure to Nigeria’s emerging lithium market and the growing Africa-China supply corridor.

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