1AE Extends Exclusivity Period for Proposed Acquisition of Lithium Rights
Project Name: Aurora Energy Metals Project
Project Location: Oregon, USA
Project Stage: Exploration
ProjectBank Summary: Aurora Energy Metals Limited (ASX: 1AE) has mutually agreed with Macro Metals Limited (ASX: M4M) to extend the exclusivity period regarding Macro Metals’ proposed acquisition of an 85% interest in the lithium rights over the Aurora Energy Metals Project in Oregon. This extension provides additional time for Macro Metals to progress its due diligence activities with Aurora. Macro Metals has paid Aurora A$50,000 for this extension, which will now run until 7 May 2023.
Aurora Energy Metals Highlights:
Exclusivity period extended to 7 May 2023:
Additional time for Macro Metals to complete due diligence.
Extension fee of A$50,000 paid to Aurora.
Project Overview:
Home to the USA’s largest, mineable, measured, and indicated uranium deposit.
Known lithium mineralisation in lakebed sediments above and surrounding the uranium deposit.
Vision to supply critical minerals for the USA’s energy transition.
MD/CEO Statement: Greg Cochran, Managing Director of Aurora Energy Metals, stated: "The extension of the exclusivity period allows both parties to ensure all due diligence processes are thoroughly completed. This step is crucial for the advancement of the Aurora Energy Metals Project, positioning us to better support the USA’s energy transition with our significant uranium and lithium resources."
