ALIX AQUIRE ADDITIONAL PROPERTY SURROUNDED BY $250M BACANORA/REM
There's something quite exciting going on behind the scenes in Sonora which I can't quite figure out yet, but I'm looking forward to watching how it plays out:
I'm sure others were intrigued by how quickly lithium novice Alix secured the concession, entered into partnership with LIT, and discovered lithium for which samples have been sent to test for business viability. And now make an additional aquisition in the heart of what has been described by REM chairman as "the Saudi Arabia of lithium"
It makes me wonder if events have be orchestrated by bigger players than $1m m-cap junior, Alix Resources...
Lithium Australia announced potential $28m financing on ASX earlier today.
LIT have indirect link with BCN: BCN is jv partner with REM for Sonora. REM are the largest stakeholder in EMH.ASX EMH are jv partners with LIT for Cinovec lithium project in the Czech Republic.
LIT announced potentialy up to $28m (AUD) funding on the ASX earlier today, following Friday's news of Alix lithium discovery. Today we are told ADDITIONAL acreage has been aquired.
Check out the wording of LIT's announcement on Friday (below) and you will see that they are driving the technical side of this project.
I'm guessing that BCN / REM want to outsource their production in some sort of amalgamation with LIT to take advantage of their sub-$1000 p/t production costs - also take a look at their December hydroxide production announcements (spot prices in China currently $15k - $20k p/t)
To achieve this LIT need a presence on the doorstep of BCN / REM.
LIT "aim to control the greatest lithium resource base of any entity worldwide", even if Alix is a happy passenger in this ride - it's going to be an interesting journey!
LIT announcement 8 Jan:
"LIT will conduct the necessary activities to produce a report summarising the work completed and the potential business opportunity. If the report demonstrates business potential, LIT will then produce a commercial development proposal that summarises a high level road map for the exploitation of lithium, potassium and other metals from the Samples.
LIT will carry out bench scale laboratory testing and full chemical analysis of the Samples, and share all results with Alix. If warranted, LIT shall carry out small scale pilot testing and provide a detailed financial and metallurgical report to Alix. LIT shall investigate and develop solutions using the Samples. All of the work to be carried out by LIT above are collectively the "LIT's Works".
