XTC Lithium Ltd has completed the sale of its non-core wholly owned exploration tenements at Southern Cross, Western Australia, to private entity Geko Explore Pty Ltd for $1 million. The divestment aligns with XTC’s strategy to prioritise its Carachi Lithium Project in Argentina.
Under the terms of the agreement, the $1 million consideration will be paid in three instalments:
- A$250,000 upon signing of agreements (already received)
- A$250,000 due by 31 March 2025
- A$500,000 due by 30 June 2025
The transaction was subject to standard conditions for such sales.
Additionally, XTC has relinquished its non-core 22.5% interest in South Korean mineral tenements.