The proposed Peace River Lithium project has garnered financial interest.
Global Energy Metals, based in Vancouver and Toronto, has entered into a non-binding letter of intent with NeoLithica to acquire a royalty and option.
Global Energy would be granted an 18-month option to acquire a 19.9% interest and a 1% Net Smelter Return royalty in the project.
To exercise the option within the 18-month period, the company will be required to pay NeoLithica $1.5 million dollars in a combination of cash and shares.
Pilot demonstrations and economic assessments, followed by drilling and reservoir evaluations, will be starting in early 2025.
Keith Hopper, Trending 55
