Glen Eagle Resources Aiming to Help Restart Canada Lithium Operations

Glen Eagle Resources (TSXV:GER) has proposed a joint venture that would combine its Authier lithium asset with that of Canada Lithium to achieve a potential restart of Canada Lithium’s operations.
As quoted in the press release:

Glen Eagle has commissioned a detailed business plan from experienced operators, engineers and managers to support its proposal which has been presented to potential European product Off Takers, strategic funding partners and current parties involved in the liquidation of Canada Lithium including Investissement Quebec. Should the Company be successful in its endeavor, Glen Eagle would have no funding responsibility other than transferring its asset into the Newco and play an active role in the financial engineering and structuring of the Newco. The proposal also made clear to all participants that a restart of Canada Lithium operations in the area has a better chance to succeed with the contribution of Authier by bringing to the Canada Lithium project a more favorable strip ratio and a longer mine life.

Click here for the full press release.