Lithium Australia (ASX:LIT) Settles with Lepidico (ASX:LPD) to Accelerate Development Plans

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Lithium Australia NL (ASX:LIT) announced the long-running intellectual property dispute between LIT and LPD has been settled with LIT retaining all rights to which it was entitled. History will vindicate the actions taken by LIT to preserve shareholder assets, which include:

  • 100% ownership of Sileach™
  • Western Australian exclusivity for Lepidico’s LMax technology, and
  • Two international licences for LMax technology

Settlement, a victory for common sense, has paved the way for LIT’s expansion in Europe which has already commenced with a farmin and joint venture with Tin International (a subsidiary of German listed Deutsche Rohstoff). The joint venture provides access to the Sadisdorf tin mine, which has a substantial lithium halo as evidenced by pervasive lithium micas. Past evaluation ignored the lithium which will be the focus of exploration work due to commence in the near future.

MetalsTech (ASX:MTC) listed last week with LIT shareholders who took up priority entitlements, listing with a healthy 35% premium. This expands LIT’s exposure in Canada.

Also last week, the company unveiled its longer-term development plans at the Explorer’s Conference in Western Australia (don’t open unless you have 15 minutes available!).

Well, that’s a summary of last week – just keep an eye out on what is happening this week.

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