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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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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.