- Jourdan Resources (JOR) has signed an earn-in agreement and joint venture agreement with Sayona Mining Limited relating to the Vallée Lithium Project
- Jourdan agreed to sell up to a 51-per-cent stake in 28 claims within the project
- Sayona subsidiary North American Lithium will need to spend at least $10 million and support the mine’s funding to claim the entire interest
- Executive Chairman Dr. Andy Rompel sat down with Sabrina Cuthbert to discuss the news
- Jourdan Resources is a junior mining exploration company operating in Quebec
- Jourdan Resources Inc. (JOR) opened trading at C$0.10 per share
Jourdan (JOR) has signed two agreements with Sayona Mining relating to its Vallée Lithium Project.
Jourdan Resources agreed to sell up to a 51 per cent stake in 28 claims within the Vallée Project, which includes pegmatite targets close to and along strike from Sayona subsidiary North American Lithium’s neighbouring orebody.
This purchase is contingent on North American Lithium spending $4 million within the first year of the agreement to earn an initial 25 per cent interest.
An additional $6 million is owed within two years to earn the further 25 per cent interest. The remaining 1 per cent can be claimed by completing a feasibility study and arranging to fund for the construction of a mine at Vallée.
As a part of this agreement, Jourdan has transferred 20 claims outright to Sayona to provide for potential future infrastructure expansion at the Northern American Lithium mine and its processing facility.
Additionally, another subsidiary of Sayona, Sayona Québec Inc., has signed a private placement agreement to acquire 27 million common shares of Jourdan Resources, approximately 9.99 per cent of all common shares, for $1.5 million.
The private placement is expected to close within two business days, affording Sayona the right to nominate one director to Jourdan’s board of directors.
Executive Chairman Dr. Andy Rompel sat down with Sabrina Cuthbert to discuss the news.
Jourdan Resources is a junior mining exploration company operating in Quebec.
Jourdan Resources Inc. (JOR) opened trading at C$0.10 per share.