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Snow Lake Resources ( (LITM) ) has issued an update.
On January 10, 2025, Snow Lake Resources Ltd. announced a binding memorandum of terms for a property option and earn-in agreement with Free Battery Metal Limited. This agreement allows Snow Lake to earn up to an 80% interest in the Mound Lake Property through a series of option earn-ins. The agreement outlines three options: Snow Lake can acquire a 10% interest upon an initial payment, increase to a 51% interest by the first anniversary through further expenditures, and ultimately reach an 80% interest by the second anniversary with additional investments. Snow Lake will manage exploration activities during the earn-in period, with the possibility of forming a joint venture for further development following a pre-feasibility study. This strategic move positions Snow Lake to enhance its resource base significantly and impacts its operational focus on exploration and development, potentially affecting stakeholders by expanding its influence in the mining sector.
More about Snow Lake Resources
YTD Price Performance: 22.34%
Average Trading Volume: 37,091,886
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $87.88M
Find detailed analytics on LITM stock on TipRanks’ Stock Analysis page.
