Venari Minerals Locks in Nevada Water Rights Near Red Mountain Lithium for US$400K
Key Takeaways
- Venari has exercised its option and signed a binding SPA with American Battery Technology Company (NASDAQ: ABAT), turning a December 2025 option into a firm contract.
- The package delivers 45.7 hectares of freehold land and 592,000m³ (480 acre-feet) of annual water rights less than 6 km from the 100%-owned Red Mountain Lithium Project.
- Total cost is US$400,000, with 1.95 million shares (about US$190,000) already paid as the option fee and only US$210,000 left in cash.
- Completion must occur by 11:00 pm Pacific Time on 7 December 2026, the next hard milestone for investors to track.
- The announcement gives no project timelines, studies, funding details or share price impact, so water security is a step forward rather than a development plan.
Venari exercises option to secure private water rights in Nevada
Venari Minerals NL (ASX: VMS) has exercised its option and entered a binding Sale and Purchase Agreement (SPA) with American Battery Technology Company (NASDAQ: ABAT), according to its ASX release of 13 October 2026. The deal covers a 45.7 hectare (113-acre) freehold property at 252 Bergara Avenue, Railroad Valley, Nevada, with attaching water rights of 592,000m³ (480 acre-feet) per annum.
The property sits less than 6 km from the company’s 100%-owned Red Mountain Lithium Project. The original Option Agreement was announced on 10 December 2025 (ASX: ASE, “Red Mountain Lithium De-Risked with Water Rights Secured”).
What changes for you as an investor? Venari now holds a binding agreement, not just an option.
When big ASX news breaks, our subscribers know first
Deal terms: US$400,000 total for the Subject Property
Venari has defined the land and water package as the “Subject Property”. The cost is split between shares already issued and cash still to be paid.
Payment breakdown
| Item | Detail | What it means |
|---|---|---|
| Option fee (already paid) | **1.95 million** Venari shares, equivalent to approximately **US$190,000** at the time of entry | Settled in shares, not cash |
| SPA cash consideration | **US$210,000** | The cash still to be paid |
| Total payment for the Subject Property | **US$400,000** | Option fee plus SPA cash |
| Completion deadline | No later than 11:00 pm Pacific Time on **7 December 2026** | The next milestone |
The US$190,000 figure is an approximation at the time of entry. Because the option fee was paid in shares, only US$210,000 of cash remains payable.
Key dates
- 10 December 2025: Option Agreement announced
- 13 October 2026: option exercised and SPA entered
- 7 December 2026: completion deadline
Why water access matters for lithium development
Lithium projects need reliable water, and securing it can be a hurdle. Venari describes water access as “a material development constraint” in the district, meaning a shortage of water can limit what gets built.
The company says the acquisition provides a private land holding and a substantial water entitlement proximal to the Project. Securing both near Red Mountain strengthens Venari’s position in a district where water is hard to come by.
What Venari gains under the agreement:
- Private land holding (freehold)
- Water entitlement of 592,000m³ per annum
- Proximity of under 6 km to Red Mountain
The next major ASX story will hit our subscribers first
What investors should watch next
Completion by 7 December 2026 is the next step. The announcement does not disclose project timelines, studies, funding or any share price impact.
For further detail, see the 10 December 2025 announcement or the Venari Investor Hub, where investors can access reports, presentations and other company content.
Ready to Learn More About Venari’s Red Mountain Lithium Project?
Venari Minerals has locked in a binding agreement for freehold land and 592,000m³ of annual water rights less than 6 km from its 100%-owned Red Mountain Lithium Project. With completion due by 7 December 2026, this is a key step in addressing a major development constraint in the district.
Investors seeking further detail can explore the Venari Minerals company profile and latest updates. It is a practical starting point for assessing how secured water access may shape the project’s path forward.