Deals
Neo Lithium in Talks for $490 Million Argentine Mine Venture
- Toronto-based junior seeking funding for Catamarca project
- Company hopes for deal by year-end as it readies feasibilty
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Neo Lithium Corp. is negotiating a $490 million deal to finance development of a mine in Argentina as the Toronto-based penny stock looks to tap a nascent lithium boom in the South American country. Shares rose.
The company is in talks with would-be U.S., European and Asian joint-venture partners for Tres Quebradas in Catamarca province, Chief Executive Officer Waldo Perez said. The project, which straddles salt flats and lakes across 135 square miles near the Chilean border, is billed as having high concentrations of the mineral used in rechargeable batteries and low impurities.