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Ganfeng Lithium invests $69 million in Leo Lithium

Kitco Media
By Kitco News
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Ganfeng Lithium will invest A$106 million in Australia-based Leo Lithium (ASX:LLL).

The two companies announced the investment today.

Funds will be used for Leo's Goulamina Stage 1 development and operational ramp-up costs. The Goulamina Lithium Project comprises a land holding of 100 km² in the Bougouni Region of southern Mali, approximately 150km by road from Mali’s capital, Bamako. An updated definitive feasibility study on the project showed a post-tax Net Present Value of US$2.94 billion.

Leo said the funding was 6.5% premium to Leo Lithium’s 5-day VWAP, and 1 cent off our all-time share price high.

Leo was spun out from Firefinch last year.

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