Spey Resources Corp. (TSE:SPEY) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Spey Resources Corp. has entered an agreement to option its 80% stake in the Candela II Lithium Brine Project to American Salars, with a deal structure involving over CAD$1.95 million in cash and more than 5 million common shares staggered over five years. Additionally, Spey will retain a 12% Net Smelter Royalty, offering American Salars a buyout option for this royalty. The deal solidifies Spey’s financial position and American Salars’ resource portfolio in Argentina’s lithium-rich Incahuasi Salar.
For further insights into TSE:SPEY stock, check out TipRanks’ Stock Analysis page.