PFE to complete US lithium deal in October - what comes next?

Our US lithium Investment Pantera Lithium (ASX: PFE) has just provided a progress update on the sale of its US lithium asset to US based EnergyX.

PFE has already locked in shareholder approvals for the deal to proceed.

Now, all financial, legal and technical due diligence has been completed - PFE expects the deal to be completed in October.

We covered the deal prior here: PFE cuts $40M deal for its US assets: start of a bidding war?

The deal will see PFE receive A$6m in cash plus A$34m stock - which PFE is now hinting may be used to look at other US based assets.

We noticed in today’s announcement that PFE are looking at other opportunities in the US “targeting new opportunities across antimony, silver, copper, rare earth elements and polymetallic prospects”:

(Source)

With PFE capped at $9M, we are looking forward to seeing what happens over the next 3 months, especially after the cash from the EnergyX hits PFE’s bank account.