Dakota Minerals has agreed to sell is Lake Barlee exploration licence 77/2347 in WA to Parkway Minerals for a total consideration of $15,000.
Under the terms of the agreement, the transaction is to be settled by the issue of 692,151 fully paid ordinary Parkway Minerals shares to Dakota Minerals.
Dakota said the divestment would allow the company to turn its attention to the development of its Sepeda Project located in the Barroso-Alvão district, Northern Portugal.
“This is part of the Company’s strategy to focus on the development of its European lithium development strategy at its Sepeda Project in Portugal where the Company recently announced its Inferred Mineral Resource for the Romano pegmatite at Sepeda has been calculated at 10.3Mt @ 1.00 Li2O and 0.05% Sn,” Dakota said in a statement.
According to the company, the settlement is expected be completed by 24 February 2017.