Core Exploration Ltd's (ASX:CXO) shares have jumped 59% to $0.054 on very heavy volume after raising funds from one of China’s largest lithium hydroxide and carbonate producers.
A subsidiary of Sichuan Yahua Industrial Group Co. Ltd will complete a placement in two tranches to invest $2 million in Core at $0.06.
The agreement forms a strategic alliance between Yahua and Core and provides for the future negotiation of an offtake and cooperation agreement.
The aim of the strategic alliance is to establish a lithium mining operation at Core’s Finniss Lithium Project located near Darwin, in the Northern Territory.
Company Name · Code · Last · Change · Volume
Core Exploration Ltd · CXO · $0.054 · 58.82% · 33,278,022
Golden Rim Resources Ltd · GMR · $0.003 · 50% · 600,000
Oilex Ltd · OEX · $0.004 · 33.33% · 1,150,000
Quest Investments Ltd · QST · $0.200 · 33.33% · 2,000
333D Ltd · T3D · $0.008 · 33.33% · 188,746
Austex Oil Ltd · AOK · $0.013 · 30% · 2,096,502
Cirrus Networks Holdings Ltd · CNW · $0.022 · 29.41% · 5,046,184
DGO Gold Ltd · DGO · $0.850 · 28.79% · 132,356
Eve Investments Ltd · EVE · $0.005 · 25% · 4,200,000
Austchina Holdings Ltd · AUH · $0.005 · 25% · 2,100,000