Post by frankmanon Apr 28, 2025 9:52am
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Post# 36553088
This is from Denison mines annual financial report regarding
This is from Denison mines annual financial report regardingGrounded Githium. Of course though they're involved with numerous projects. They also did purchase a royalty from the project. From Dennison Financial annual report that most of you are aware of:
Kindersley Lithium Project
In 2024, the Company entered into an earn-in agreement with Grounded Lithium Corp (“Grounded Lithium”). with respect to the Kindersley Lithium Project in Saskatchewan (“KLP”). The agreement includes a series of earn-in options, with each earn-in option being comprised of a cash payment to Grounded Lithium as well as work expenditures to advance KLP. Should the Company complete all three earn-in options it will earn a 75% working interest in the KLP. The Company made a payment of $800,000 to Grounded Lithium, and incurred $61,000 of transaction expenses related to the agreement. The Company has incurred expenditures of $2,396,000 in 2024, related to the earn-in option. As at December 31, 2024, the Company has satisfied the requirements of the first earn-in option. The expenses incurred are expensed, consistent with the Company’s accounting policy.