Nonfemet sells its interest in Canada-based lithium project
2017-10-27 17:53:54 [Print]
On October 18, Nonfemet announced that, GlobeStar Mining Corporation, a fully-owned subsidiary company of Nonfemet’s fully-owned subsidiary Australia-based Perilya Limited, sold its 60% interest in the Canada-based Moblan lithium project (“the Project”) to Guo Ao Lithium Co., Ltd. at a price of USD60 million.
According to Nonfemet, no infrastructure construction has been launched in the Moblan project yet and the current geological survey is equivalent to the geological sifting process in China. Though Canada has an advanced mining industry in the west, relevant evaluation program shows that the Project is still subject to risks in environmental, social and political terms. In line with the principle of prudentialism, Nonfemet finalized the Project’s discount rate at 12.20%.
According to Nonfemet, no infrastructure construction has been launched in the Moblan project yet and the current geological survey is equivalent to the geological sifting process in China. Though Canada has an advanced mining industry in the west, relevant evaluation program shows that the Project is still subject to risks in environmental, social and political terms. In line with the principle of prudentialism, Nonfemet finalized the Project’s discount rate at 12.20%.
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