Lithium Australia NL (AU:LIT) has released an update.
Lithium Australia Ltd. has announced that its subsidiary, Envirostream, is facing a new claim valued at A$4.1 million, which is expected to lead to an additional provision in the company’s financial statements. The claim relates to a fire incident from January 2019, with previous litigations already settled by insurance for A$1.7 million and estimated remaining claims totalling A$3.3 million. The company assures that any future litigated claims will be managed by Envirostream’s insurance company, with full details to be disclosed in the upcoming financial report.
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