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Chariot Resources Ltd (ASX:CC9)

ALERT: Price-sensitive ASX Announcement for CC9
Current share price for CC9 : $0.065 0.016 (32.65%)+
Announcement
Release
18 Aug 2026 8:51AM
Price at Release
$0.049
Full Release
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Summary
Chariot Resources Ltd (ASX: CC9) announced that it has signed a term sheet with C&D (Hainan) Co. Ltd, Hong Kong ZhongNuo Energy Limited, and C&C Minerals Limited for a proposed partner-funded drilling, trial-mining, and direct shipping ore (DSO) offtake program focusing on its Nigerian lithium portfolio. C&D would act as the DSO offtake buyer, while ZhongNuo would fund and operate the drilling and potential trial mining. The agreement includes a capped trial mining phase and is subject to various conditions, including due diligence and execution of a definitive agreement. The program aims to explore and potentially exploit lithium resources in the Fonlo, Iganna, and Saki project areas, with no guaranteed production targets or forecasts.
Key Points
  • Chariot Resources Ltd signed a term sheet with C&D, ZhongNuo, and C&C Minerals for Nigerian lithium projects.
  • C&D would be the DSO offtake buyer, and ZhongNuo would fund the drilling and trial mining.
  • The agreement includes a capped trial mining phase at 240,000 tonnes of DSO.
  • The term sheet sets a 90-day exclusivity period for project selection and negotiation of a definitive agreement.
  • No Mineral Resource or Ore Reserve estimates have been made for the Fonlo, Iganna, or Saki projects.
  • The agreement is contingent on due diligence, execution of a definitive agreement, and satisfaction of several conditions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.