Sayona Mining Signs Earn-In Agreement With Altura To Progress WA Lithium Portfolio

Emerging lithium developer Sayona Mining (ASX: SYA) has signed an earn‐in agreement with lithium producer Altura Mining (ASX: AJM) to help maximise the value of Sayona’s portfolio in Western Australia’s world‐class Pilgangoora lithium district.

Under the terms of the agreement, Altura will spend $1.5 million on exploration across the project portfolio over three years to earn a 51% interest, with Sayona keeping the remaining 49%.

Sayona retains the right to contribute to project evaluation and development in the future to participate in upside potential.

Should Altura wish to withdraw its stake before the agreement ends, it must spend $500,000 on exploration activities including at least 2500 metres of drilling on Sayona’s Mallina project and 1000m on its Tabba Tabba project, both in the Pilgangoora district.