Charger Metals Banks $3.75M and Keeps Door Open to $11M More From Bynoe Sale [VIDEO]
Charger Metals has completed the Charger Metals Bynoe Project Sale to Core Lithium's subsidiary, banking $3.75 million today from a deal worth up to $14.75 million including a capped royalty and milestone payment.
Key Takeaways
- Charger Metals received $3.75 million in cash today upon completing the sale of its Bynoe Lithium Project to Core Lithium's subsidiary, with total deal value potentially reaching $14.75 million.
- Charger retains a 1.0% gross revenue royalty on lithium product from the Bynoe project area, capped at $10 million — equivalent to $1 billion in cumulative project sales before the royalty exhausts.
- An additional $1 million milestone payment is triggered if an Inferred Resource of at least 8 million tonnes at 1.0% Li₂O is delineated on exploration licence EL 30897.
- Proceeds will be directed to the Lake Johnston Lithium and Gold Project in WA's Yilgarn Province, located 70km east of the 189Mt Earl Grey lithium development that began production in March 2024.
- The divestment concentrates Charger's portfolio entirely on Lake Johnston, where target areas include the Medcalf Spodumene Deposit and the Mount Day LCT pegmatite field across a 50km prospective corridor.
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