https://www.engineeringnews.co.za

Monax makes a break for lithium

17th May 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Junior explorer Monax Mining has signed a binding term sheet to acquire a prospective lithium project in Queensland.

The company told shareholders on Tuesday that it would earn an 80% interest on an exploration permit by spending A$500 000 over an 18-month period.

At the completion of the farm-in, the vendor could elect to either sell its remaining 20% interest in the project area to Monax for an agreed amount, to sell its interest to a third party or to enter into a joint venture with Monax until a decision to mine.

Once a decision to mine was taken, the vendor had the option to co-fund expenditure based on its interest, or to convert its interest into a 1.5% net smelter royalty for all mineral sales derived from the tenement.

Monax meanwhile also applied for a tenement adjoining the farm-in area, on the basis that it could host lepidolite pegmatite.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest News

SKAO director-general Prof Jessica Dempsey
The SKA Observatory has a new head
2nd June 2026 By: Rebecca Campbell

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Iritron
Iritron

Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.051 0.301s - 140pq - 2rq
Subscribe Now