Power Minerals Limited

Power Expands Argentinian Lithium Asset Portfolio Via Ultra Lithium Acquisition

Diversified minerals company Power Minerals Limited (ASX: PNN) (Power or the Company) is pleased to announce it has signed a binding Term Sheet to purchase 100% of the Argentinian lithium subsidiaries of TSX Venture Exchange-listed Ultra Lithium Inc. (TSXV-ULT) (Ultra Lithium).

  • Power signs binding Term Sheet with TSX-V-listed Ultra Lithium Inc. to acquire 100% of its Argentinian lithium subsidiaries in Catamarca Province, north-west Argentina
  • The acquisition will add the 7,568 hectare Laguna Verde lithium- brine project plus 250,000+ hectares of prospective properties to Power’s portfolio of lithium development assets in Argentina
  • Upon completion, Power will have one of the largest lithium- brine land holdings in the world-renowned lithium triangle region of Argentina
  • Acquisition reinforces Power's strategy of becoming a leading lithium brine developer in Argentina
  • Acquisition is subject to a 21-day due diligence period and finalisation of an Acquisition Agreement, plus approval from Power and Ultra shareholders

Ultra Lithium holds 100% of the extensive +250,000-hectare Laguna Verde lithium-brine projects in the Catamarca Province, within the world-renowned lithium triangle in north-west Argentina (the Projects).

The acquisition of the Laguna Verde projects (Acquisition) aligns with Power’s strategy of becoming a leading lithium brine developer in Argentina, and complements Power’s core focus of developing its Salta Lithium Project with its direct lithium extraction (DLE) partners, to deliver shareholder value.

The Acquisition will expand Power’s portfolio of lithium development assets in Argentina’s lithium triangle to 2,837.70km2, making it one of the largest lithium landholders in the region and providing it with a significant pipeline of development projects.

“This acquisition allows Power to extensively expand our footprint in Argentina with an advanced lithium brine project in the world’s best lithium address. This strategic acquisition comes at an opportune time as interest and demand in Argentinian lithium brine continues to increase. We aim to take advantage of this opportunity, in parallel with our core focus on the development of our Salta Lithium project, with the delineation of a JORC Mineral Resource Estimate for the Laguna Verde Project in the second half of 2023, using results from recently completed drilling by Ultra Lithium at the project. This will complement the ongoing Resource expansion program at Salta.” - Power Minerals Managing Director, Mena Habib

Click here for the full ASX Release

This article includes content from Power Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Albemarle Corporation to Release First-Quarter 2024 Earnings Results on Wednesday, May 1, 2024

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced today that it will release its first-quarter 2024 earnings after the NYSE closes on Wednesday, May 1, 2024 .

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

The company will hold a conference call to discuss its first-quarter 2024 results on Thursday, May 2 , at 9:00 a.m. ET . Access to the call is available via webcast or direct dial. A link to the webcast can be found through Albemarle Corporation's website at http://investors.albemarle.com . Direct dial numbers are provided below:

Participant Dial-in Numbers:
U.S. & Canada Toll-Free: 1 (800) 590-8290
International: 1-240-690-8800
Conference ID: ALBQ1

Webcast Details:
Event Title: Albemarle Q1 2024 Earnings Call
Event Date: May 2, 2024
Start Time: 09:00 AM (GMT -05:00) Eastern Time (US and Canada )

Attendee URL:

Replay Information:
A webcast replay will be available following the conclusion of the event through the News and Events page on Albemarle's website at http://investors.albemarle.com .

About Albemarle
Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at albemarle.com and on X (formerly known as Twitter) @AlbemarleCorp.

Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, Securities and Exchange Commission ('SEC') filings and other information regarding the company, its businesses and the markets it serves.

Investor Relations Contact: Meredith Bandy , +1 (980) 999-5768, Meredith.Bandy@albemarle.com

Media Contact: Jennifer Zajac , +1 (980) 308-6259, Jennifer.Zajac@albemarle.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-corporation-to-release-first-quarter-2024-earnings-results-on-wednesday-may-1-2024-302109286.html

SOURCE Albemarle Corporation

News Provided by PR Newswire via QuoteMedia

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