M&A

Marquee adds to US portfolio with new lithium, gold assets

Raising funds for exploration and will be hoping for a market reboot

 Marquee adds to US portfolio with new lithium, gold assets

The Kibby Basin lithium project in Nevada is 50km north of ioneer's Rhyolite Ridge project and circa-60km north of Marquee's existing Clayton Valley lithium project.

Marquee said a key point was Kibby Basin being fully permitted for water extraction and brine and lithium processing.

The Lone Star copper-gold project in Washington State has a relatively modest historical resource.

Marquee can earn an 80% interest in both projects by paying a total initial cash consideration of C$350,000 and spending a combined $5 million over the next 15-24 months.

Vendor Belmont Resources is also to be issued with six million Marquee shares.

The A$3 million being raised via loans that convert into shares and options.

Marquee raised $1.4 million in August when it issued new shares priced at 5c each.

Shares in Marquee were up 33% to 10.5c in morning trade, capitalising the company at $16 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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