Altura Mining Limited
(ASX:AJM) has announced it has entered into a lithium joint venture with Kairos Minerals Limited
(ASX:KAI).
The deal will see Altura acquire a 75 percent interest in the Lithium Rights at Kairos’s Wodinga East tenements.
Altura will look to spend a total of $1.35 million in exploration and mining activities over a five year period as part of the deal.
The JV allows Kairos to unlock value from its lithum projects while maintaining its focus on gold exploration at its 100 percent owned Mount York Gold-Lithium Project.
Altura Mining Limited reported a net loss of $31.62 million at 30 June 2016.
