Bill Fairservice

International Lithium Corp. Completes Sale of Its 49% Stake in Mavis Lake Project in Ontario, Canada

Retrieved on: 
Wednesday, January 5, 2022

Following completion of the Mavis Lake sale and the sale of its remaining stake in Mariana to Ganfeng Lithium in October 2021, ILC now has CAD$ 12.9m of cash and marketable securities.

Key Points: 
  • Following completion of the Mavis Lake sale and the sale of its remaining stake in Mariana to Ganfeng Lithium in October 2021, ILC now has CAD$ 12.9m of cash and marketable securities.
  • We retain a further CAD$ 1.38m of upside in further payments at Mavis Lake if CRR achieves the hoped for results there.
  • The Company's primary strategic focus is now on the Raleigh Lake lithium and rubidium project in Canada and on identifying additional properties.
  • The Raleigh Lake project now consists of over 47,000 hectares (470 square kilometres) of adjoining mineral claims in Ontario, and is ILC's most significant project in Canada.

International Lithium Corp. Expands Raleigh Lake Lithium and Rubidium project in Ontario, Canada and divests its 49% interest in Mavis Lake Lithium Project, Canada

Retrieved on: 
Monday, October 25, 2021

The Mavis Lake sale will, if the option is exercised, realise AUD$ 3.2m in cash & shares (approx.

Key Points: 
  • The Mavis Lake sale will, if the option is exercised, realise AUD$ 3.2m in cash & shares (approx.
  • By spending CAD$ 8.5m, ESS would have acquired the right to increase its stake in Mavis Lake to 80%.
  • The Company's primary strategic focus is now on the Raleigh Lake lithium and rubidium project in Canada and on identifying additional properties.
  • The ownership of the Mavis Lake project is currently 51% Essential Metals Limited (ASX: ESS, "ESS") and 49% ILC.