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Charger Metals NL (ASX:CHR)

ALERT: Price-sensitive ASX Announcement for CHR
Current share price for CHR : $0.085 -0.002 (-2.30%)+
Announcement
Release
13 Jul 2026 9:28AM
Price at Release
$0.087
Full Release
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Summary
Charger Metals NL has finalized an agreement to sell the Bynoe Lithium Project to Core Lithium's subsidiary for up to $14.75 million. The deal includes an upfront payment of $3.75 million, with additional payments tied to resource milestones and a capped royalty on lithium product sales. The sale became unconditional after receiving necessary ministerial approvals, and Charger expects to receive the initial payment soon. This project is situated near Core's existing operations, enhancing its strategic value. Charger Metals will continue to develop its Lake Johnston Lithium Project, with plans for significant drilling activities.
Key Points
  • Charger Metals NL has entered into a binding agreement to sell 100% of the Bynoe Lithium Project to Core Lithium’s subsidiary, Bynoe Lithium Pty Ltd (BLPL).
  • The transaction involves a total consideration of up to $14.75 million, including $3.75 million payable upon completion.
  • An additional $1 million is payable upon achieving a resource milestone, and a 1% gross revenue royalty on lithium product capped at $10 million.
  • The sale is now unconditional following ministerial approval of the tenement transfer.
  • Charger Metals expects to receive the initial payment of $3.75 million shortly.
  • The Bynoe Lithium Project is located within Core’s Finniss Lithium Project, 9km from the Finniss Concentration Plant.
  • Charger Metals is focusing on its Lake Johnston Lithium Project, with plans for a 10,000m drill program.
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.