Liontown Resources acquires Buldania Royalty from Westgold Resources

Company News

by Rachael Jones

Liontown Resources (ASX:LTR) has signed a formal sale agreement with Westgold Resources (ASX:WGX) to acquire its 100 per cent-owned Buldania Lithium Project in WA.

The acquisition consolidates Liontown’s ownership of the emerging WA lithium project with revenue and production royalties relating to lithium and related minerals are being acquired for total consideration of $2 million in cash.

Buldania is around 30 kilometres east of Norseman and is Liontown’s second WA lithium project.

It's being progressed alongside its flagship Kathleen Valley Lithium Project, with a substantial resource drilling program currently in progress.

The acquisition is not subject to any conditions precedent and the transaction is expected to complete within the next 5 business days.

Shares in Liontown Resources (ASX:LTR) trading 10 per cent higher at 17 cents.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.