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Corcel PLC said on Tuesday it is exercising the option to acquire Canegrass Lithium project in Western Australia from Huntsman Exploration Inc. Corcel is a London-based mining and mineral resource development company with interests in flexible energy storage and production. It manages operations in Papua New Guinea, Canada, Australia, and the UK. Huntsman Exploration is a Vancouver-based exploration stage company. Corcel said it will proceed to issue Huntsman 50 million new ordinary shares at a previously agreed price of 0.4 pence, totalling to a £200,000 consideration. The shares will be issued following Corcel’s upcoming general meeting on April 26. This announcement comes after Corcel reported back in February that it had signed an exclusive option with Huntsman to acquire the rights of the Canegrass Lithium project. Shares were up 4.6% at 0.40 pence in London on Tuesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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