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Latin Resources (ASX:LRS) - Managing Director, Chris Gale
Managing Director, Chris Gale
Source: Proactive Investors
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  • Latin Resources (LRS) is up more than 80 per cent today after signing a joint venture (JV) agreement with Integra Capital
  • This agreement will see Integra spend up to US$1 million (roughly A$1.4 million) to earn a 50 per cent interest in Latin’s Catamarca lithium pegmatite projects in Argentina
  • The primary aim of this joint venture is to deliver a maiden JORC resource and once released focus will move onto project development with the end goal to produce a lithium spodumene concentrate
  • Integra also has the opportunity to become Latin’s largest shareholder by taking a 10 per cent stake in the company
  • Latin is still up a healthy 83.3 per cent and shares are trading for 0.6 cents each

Latin Resources (LRS) is up more than 80 per cent today after signing a joint venture (JV) agreement with Integra Capital.

This JV is for the exploration and development of Latin’s Catamarca lithium pegmatite projects in Argentina.

This agreement will see Integra spend up to US$1 million (roughly A$1.4 million) to earn a 50 per cent interest in the projects.

The primary aim of this JV is to deliver a maiden JORC resource and once released, the JV will focus on project development with feasibility, metallurgy, and engineering studies with the end goal of producing a lithium spodumene concentrate.

“We welcome Integra as our partner at our highly-prospective Argentinian lithium Pegmatite projects and look forward to delivering significant shareholders value with our new partner,” Managing Director Chris Gale said.

“Integra’s financial capacity combined with our track record and experience in Latin America makes a formidable team with the ability to rapidly explore and develop a lithium project,” he added.

Integra also has the opportunity to become Latin’s largest shareholder by taking a 10 per cent stake in the company.

“We are very happy in becoming partners with Latin Resources in Argentina to advance this promising lithium pegmatite project,” Integra Founder and President Jose Luis Manzano commented.

“We expect to benefit from the knowledge of Latin Resources and contribute with our experience in Argentina and our highly qualified team to advance the project,” he said.

Latin is still up a healthy 83.3 per cent and shares are trading for 0.6 cents each at 2:11 pm AEST.

LRS by the numbers
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