Infinity Lithium Corporation Ltd (ASX:INF) (FRA:3PM) non-executive chairman Adrian Byass has demonstrated his confidence in the company’s lithium strategy with an on-market purchase of shares.
On May 17 Byass acquired 300,000 shares with a total value of more than $20,000 in an indirect interest, increasing the total number of securities held in that interest to 5,101,876.
He also holds a further 562,500 shares in a separate indirect interest and 3,904,429 in another.
San José appeal
The company has received notification that the Investigation Permit Valdeflorez (PIV) application has been cancelled at the San José Lithium Project in Spain.
Following legal advice, the company has lodged an appeal against this decision.
Validity of the decision disputed
The San José Lithium Project consists of both the PIV application and the adjoining granted Investigation Permit Ampliacion Valdeflorez (PIAV), which remains in good standing.
In respect to the decision by the regional government (Junta), Infinity has strongly disputed the validity of the decision to cancel the PIV application.
Infinity CEO Ryan Parkin said: “The joint venture partners strongly dispute the decision and are pursuing all options to reinstate the investigation permit."