Lithium Australia now owns 100% of the Sadisdorf lithium project in Far East Germany. A location where recent drilling recovered up to 78.51m at 0.51% lithium.
On 11 June 2018, Lithium Australia NL (ASX: LIT) announced the acquisition of 100% of the Sadisdorf lithium/tin resource from Tin International AG
Saxony Mining Authority has approved the transfer of the requisite licences to Lithium
Australia. (It’s German subsidiary, Trilithium Erzgebirge GmbH)
First part of the licence is the historic lithium/tin resource at Sadisdorf and the prospective Hegelshöhe exploration licence.
€2 million of which €500,000 will be cash will be paid by Lithium Australia. The remaining €1.5 million payable in LIT shares valued at 105% of VWAP.