Thor Mining PLC (LON:THR) is eyeing a sizeable boost to its liquid assets from a deal between investee company USA Lithium and Australian firm Hawkstone.
Thor will be issued 15.63mln shares in Hawkstone on completion worth A$609,000.
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Mick Billing, Thor's executive chairman, said: "We welcome this very positive development for USA Lithium and the opportunity it provides to fund the exploration and evaluation of the exciting USA Lithium portfolio.
"While the agreement is subject to due diligence as well as appropriate shareholder approvals and successful capital raising, completion of this will be a very positive step".
"Assuming successful completion, the holding by Thor of tradeable securities in Hawkstone should very positively augment the available working capital of Thor, increasing it to near £2 -mln post completion, which we will mainly apply to the development of our strategic tungsten and copper interests."