Chariot Resources Signs Partner-Funded Term Sheet to Advance Nigerian Lithium DSO Opportunity
Chariot Resources Limited (ASX: CC9) has entered into a term sheet with C&D (Hainan), Hong Kong ZhongNuo Energy and C&C Minerals to evaluate a partner-funded lithium program within its proposed Nigerian portfolio. The parties will use a 90-day exclusivity period to review and select one project from Fonlo, Iganna and Saki, with C&D paying Chariot a refundable US$100,000 exclusivity fee. ZhongNuo would fund and undertake at least 1,500 metres of diamond drilling across a minimum of three pits. Subject to satisfactory results and definitive agreements, ZhongNuo would also fund potential trial mining, capped at 240,000 tonnes of DSO, while C&D would purchase qualifying material under a market-linked pricing mechanism. If a definitive agreement is executed, C&D would provide a US$500,000 interest-free prepayment against future DSO invoices. The proposed program remains conditional on due diligence, completion of the Nigerian portfolio acquisition, confirmation of mineral titles and required approvals, with no assurance that trial mining or DSO sales will proceed.
Customer Notice:
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.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Chariot Resources Signs Partner-Funded Term Sheet to Advance Nigerian Lithium DSO Opportunity
Chariot Resources Limited (ASX: CC9) has entered into a term sheet with C&D (Hainan), Hong Kong ZhongNuo Energy and C&C Minerals to evaluate a partner-funded lithium program within its proposed Nigerian portfolio. The parties will use a 90-day exclusivity period to review and select one project from Fonlo, Iganna and Saki, with C&D paying Chariot a refundable US$100,000 exclusivity fee. ZhongNuo would fund and undertake at least 1,500 metres of diamond drilling across a minimum of three pits. Subject to satisfactory results and definitive agreements, ZhongNuo would also fund potential trial mining, capped at 240,000 tonnes of DSO, while C&D would purchase qualifying material under a market-linked pricing mechanism. If a definitive agreement is executed, C&D would provide a US$500,000 interest-free prepayment against future DSO invoices. The proposed program remains conditional on due diligence, completion of the Nigerian portfolio acquisition, confirmation of mineral titles and required approvals, with no assurance that trial mining or DSO sales will proceed.
Customer Notice:
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.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au