Pilbara Minerals buys neighbouring lithium stake
Exploration drilling in the Pilgangoora lithium region. By Cameron Drummond THE purchase of Dakota Minerals’ Lynas Find lithium project has further strengthened Pilbara Minerals’ position in the Pilgangoora lithium district. Pilbara Minerals will fork out up to $8 million for Dakota’s stake, which adjoins its existing lithium tenements in the region. Under the agreement, the company will pay $4m cash up front for Dakota’s core Lynas Find package, plus an additional $1m on the granting of a term extension on one of the core tenements. A further $750,000 for each of an additional four exploration tenements currently under application by Dakota will be paid in either cash or shares. Pilbara Minerals managing director Ken Brinsden said the acquisition of Lynas…