Following a shareholder vote, two court hearings and an ASX listing process, Li-FT Power (TSXV: LIFT; US-OTC: LIFFF) is on track to close its merger with Winsome Resources (ASX: WR1; US-OTC: WRSLF) next month.
The A$130.8 million ($91.8 million) deal, announced in December, is aimed at developing a much larger mine at the Adina lithium project in Quebec by expanding the pit into the adjoining Galinée property, CEO Francis MacDonald told The Northern Miner video host Devan Murugan.
“When you put these things together, we at least double the pitable resource, and so there’s major synergies here,” MacDonald said early this month during the PDAC conference in Toronto. “This becomes one of the largest open-pit resources out there.”
Adina already hosts 61.4 million indicated tonnes grading 1.14% lithium oxide (Li2O) and 16.5 million inferred tonnes at 1.19% Li2O, or 77.9 million tonnes at 1.15% Li2O overall. Winsome’s September 2024 scoping study used only 35 million tonnes because the pit stopped at the claim boundary, MacDonald said.
Watch the full interview below:
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