Following a shareholder vote, two court hearings and an ASX listing process, Li-FT Power (TSXV: LIFT; US-OTC: LIFFF) is on track to close its merger with Winsome Resources (ASX: WR1; US-OTC: WRSLF) next month.
The A$130.8 million (US$91.8 million) deal, announced in December, aims to develop a much larger mine at the Adena lithium project in Quebec by expanding the pit to the adjacent Galini property, CEO Francis Macdonald said. Northern Miner Video host Devan Murugan.
“When we put these things together, we at least double the miserable resources, so there’s great synergy here,” MacDonald said earlier this month during the PDAC conference in Toronto. “This becomes one of the largest open resources available.”
Adina already hosts 61.4 million tonnes specified at a grade of 1.14% lithium oxide (Li2O) and 16.5 million tons inferred at 1.19% Li2O, or 77.9 million tons with 1.15% Li2Oh comprehensive. MacDonald said Winsome’s September 2024 scoping study used only 35 million tons because the hole stopped at the boundaries of the claim.
Watch the full interview below:
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