Lithium producer Orocobre Ltd
(ASX:ORE) has signed a contract to sell its Salinas Grandes exploration assets to Toronto-based LSC Lithium Ltd.
Under this deal, LSC will acquire mining properties located in Salinas Grandes, Argentina, for $7 million.
LSC has also agreed to transfer three properties (totalling 3,821 hectares) to Orocobre. These properties are located at Olaroz, next to Ocrocobre’s current project properties.
Also, LSC will grant Orocobre a 2% royalty on the brine concentrate produced from Salinas Grandes Tenements, and this transaction is expected to complete within 30 days.
Yesterday, Orocobre shares closed steady at $2.76.
