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2021-07-19 by Proactive Australia
Infinity Lithium Corporation Ltd (ASX:INF)(FRA:3PM) has finalised a favourable revision relating to the JV agreement between the company s wholly owned subsidiary, Extremadura Mining S.L and joint venture (JV) partner Valoriza Minera S.A.
Extremdaura Mining will maintain a 75% project ownership interest in the JV entity TEL, the project vehicle that contains the rights to the San José Lithium Project in Spain
The revised agreement provides for the deferral of current payment obligations by Extremadura Mining to Valoriza Mineria and provisions to accelerate the acquisition of the balance of shares in TEL aligned to the resolution of research permit Investigation Permit Valdeflórez (PIV).
The Infinity Lithium (ASX:INF) share price fell 20% today
Infinity Lithium is gearing up for a legal battle to regain its investigation permit.
Brooke is a Junior Financial Journalist at the Motley Fool Australia. Brooke s interests in finance and the share market evolved during her time at Charles Sturt University. There, she studied a Bachelor of Communication, majoring in journalism and sub-majoring in international relations. In her spare time, you ll find Brooke gallivanting around South East Queensland, no doubt with her dog in tow.
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Right now, Infinity Lithium shares are 19.64% lower than their previous close – swapping hands for 11.3 cents.