Lithium Energy Limited (ASX Code: LEL)

Lithium Energy Limited (ASX Code: LEL) has taken a step forward in securing environmental impact assessment (EIA) approvals for the Solaroz Lithium Brine Project in Argentina, having received said approvals for the Mario Angel and Payo concessions. The company is still awaiting similar approvals for the ‘Central Block’ (comprising Chico I, V and VI, Payo 2 South and Silvia Irene) and ‘Northern Block’ (comprising Payo 1 and Payo 2 North) concessions. The Central and Northern blocks, covering 10,666 hectares, hold the majority of the existing lithium resource at Solaroz, the target of the next phase of exploration activities. LEL recently entered into a sale agreement with CNGR Netherlands New Energy Technology B.V. (CNNET) for the sale of the whole of Lithium Energy’s interest in Solaroz in return for US$63 million in cash consideration. More at #Proactive #ProactiveInvestors #ASX #LEL #Lithium #BatteryMetals #CriticalMinerals http://ow.ly/UKxK105SpgS

#ASXNews Lithium Energy Limited (ASX Code: LEL) (Lithium Energy or Company) confirms that Environmental Impact Assessment (EIA) approvals have been received for the next phase of exploration activities in the Mario Angel and Payo concessions at the #Solaroz #Lithium Brine Project in Argentina (Solaroz). View the full announcement: #LEL #LithiumEnergy #ASX

#ASXNews Lithium Energy Limited (ASX Code: LEL) is pleased to announce that there will be a General Meeting held at 12:00 noon (Perth Time) on Wednesday, 15 January 2025. For more details, please view the full announcement: https://lnkd.in/ghxr6YXM #LEL #LithiumEnergy #ASX

#ASXNews Lithium Energy Limited (ASX Code: LEL) is pleased to announce the Amended Terms of A$97 million Sale of Solaroz Lithium Project. SUMMARY ➢ Lithium Energy and CNGR have agreed to amend the terms under which CNGR will purchase the Company’s 90% interest in the Solaroz Lithium Brine Project in Argentina for US$63 million (~A$97 million) cash. ➢ Whilst the total purchase price of US$63 million remains unchanged, under the amended and restated sale agreement (the Amended Agreement), the parties have agreed to remove all conditions precedent and CNGR will: • Pay a second deposit of US$6 million in January 2025 (after receipt of shareholder approval of the Amended Agreement) – this second deposit is non-refundable save in limited circumstances and the parties have agreed that the first deposit of US$1.8 million (received in May 2024) is now fully non-refundable; • Pay US$26 million on 24 April 2025, upon which Lithium Energy will transfer a 39.9% shareholding in Solaroz to CNGR; • Pay US$21.7 million (together with the transfer of US$3 million into a joint escrow account to be held for 12 months) on 9 January 2026, upon which Lithium Energy will transfer its remaining 50.1% shareholding in Solaroz to CNGR; • Pay US$4.5 million deferred consideration contingent on the Benchmark Lithium Carbonate Price exceeding US$23,000/tonne; and • Contribute up to US$15 million (via unsecured loans repayable from future production) to fund Solaroz operations from 1 January 2025. ➢ The Amended Agreement is subject to Lithium Energy obtaining shareholder approval for the same under Listing Rule 11.2 at a general meeting expected to be held in January 2025. View Full Announcement: https://lnkd.in/g84D9JXN #LithiumEnergy #LEL #ASX

#ASXNews Lithium Energy Limited (ASX Code: LEL) is pleased to present the Results for the 2024 Annual General Meeting held on Thursday, 28 November 2024. Resolutions summary: (1) Adopt Remuneration Report - Passed (91.54% - For) (2) Re-Elect Peter Smith as Director - Passed (94.54% - For) View Full Report: https://lnkd.in/gDRgQnVW #LithiumEnergy #LEL #ASX

#ASXNews Lithium Energy Limited (ASX Code: LEL) is pleased to present the Quarterly Activities and Cash Flow Report for 30 September 2024. Updates on:  Sale of Solaroz Lithium Brine Project (Argentina)  Axon Graphite Limited IPO/spin-out  Future Activities View Full Report: https://lnkd.in/gP5xJDng #LithiumEnergy #LEL #ASX

#ASXNews Lithium Energy Limited (ASX Code: LEL) is pleased to present the 2024 Annual Report, outlining our pathway to development across our significant mining project assets. 2024 has been a year of great achievements and growth, further positioning the Company in its goals to contribute to the global energy transition. #LithiumEnergy #LEL #ASX

#ASXNews Lithium Energy Limited (ASX Code: LEL) is pleased to announce that the 2024 Notice of Annual General Meeting will be held at 10:30 am (Perth Time) on Thursday, 28 November 2024. For more details, please view the full announcement: https://lnkd.in/g2Ps8U_f #LEL #LithiumEnergy #ASX

Lithium Energy Limited (ASX Code: LEL) has extended the sale of its 90% interest in the Solaroz Lithium Brine Project in Argentina by 60 days. The company is selling its interest to CNGR Netherlands New Energy Technology B.V. (CNNET) for US$63 million (~A$97 million) in cash. CNNET is a subsidiary of CNGR Advanced Material Co Ltd and one of the largest producers of precursor #CathodeActiveMaterials used by leading companies in the #BatteryMaterials supply chain. More at #Proactive #ProactiveInvestors #ASX #LEL #Lithium #LithiumMining #BatteryMetals #CriticalMinerals http://ow.ly/CXKJ105MwQo

#ASXNews Lithium Energy Limited (ASX Code: LEL) (Lithium Energy or Company) refers to its previous announcements regarding the sale of the whole of the Company’s 90% interest in the Solaroz Lithium Brine Project in Argentina (#Solaroz Project) to CNGR Netherlands New Energy Technology B.V. (CNNET) for consideration totalling US$63 Million (~A$97 Million) cash (the Solaroz Sale). Completion of the sale was to occur after the satisfaction (or waiver, as applicable) of a number of conditions precedent under the Solaroz Sale agreement (Conditions) on or before 25 October 2024. Whilst some of the Conditions have already been satisfied, including Lithium Energy shareholder approval and receipt by CNNET/CNGR of all necessary Chinese ODI (overseas direct investment) and foreign exchange control regulatory approvals, several Conditions remain outstanding. Whilst some or all of the outstanding Conditions may still be satisfied before 25 October 2024, CNNET has requested that the time for completion be extended by a further 60 days to 24 December 2024, as permitted under the Solaroz Sale agreement. The Company will provide further updates as material Conditions are attained. Full announcement: https://lnkd.in/gJWrUBq7 #LithiumEnergy #LEL #ASX