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International Lithium Corp (ILC) is a company engaged in the exploration and acquisition of mineral properties, with a primary focus on lithium, copper, and cobalt resources. The company's flagship projects include the Raleigh Lake Lithium and Rubidium Project located in Ontario, Canada, and the newly acquired Firesteel Copper and Cobalt Project in Northwestern Ontario.
ILC recently announced the completion of the purchase of a 90% interest in the Firesteel Project, which exhibits significant copper mineralization potential. The company intends to commence a drilling program to test multiple high-priority targets identified through geophysical surveys and historical drilling data.
With a strategic focus on critical metals essential for the burgeoning battery and clean energy industries, ILC aims to leverage its strong project portfolio and experienced team to drive value for its shareholders while contributing to the global shift towards sustainable energy solutions.
International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) successfully held its 2024 Annual General Meeting on September 16, 2024. The company reported that all proposed resolutions were passed with overwhelming support, receiving over 99% of votes in favor of all motions. Shareholders approved all agenda items outlined in the information circular and elected the board of directors for the coming year. The elected directors are John Wisbey, Maurice Brooks, Anthony Kovacs, Ross Thompson, and Geoffrey Baker. This strong shareholder support indicates confidence in the company's leadership and strategic direction.
International Lithium Corp. (ILC) has signed a variation agreement for its non-core Avalonia project in Ireland, a joint venture with Ganfeng. Key points:
- Ganfeng's option to increase its share from 55% to 79% is extended to December 31, 2025
- ILC will receive CAD$2.2 million and a 2% Net Smelter Royalty
- ILC will reduce its stake in Avalonia to zero
The proceeds will be used for exploration in Ontario (Raleigh Lake and Firesteel projects) and potentially in Zimbabwe. ILC's CEO, John Wisbey, stated that selling the non-strategic Avalonia stake allows the company to focus on other operations while maintaining a royalty interest. The transaction strengthens ILC's balance sheet and doesn't require TSXV approval.
International Lithium (TSXV: ILC, OTCQB: ILHMF, FSE: IAH) has announced its intention to extend the expiration date of 7,586,669 share purchase warrants from June 30, 2024, to August 11, 2026.
These warrants were originally issued as part of a private placement of 16,673,336 units, which was accepted by the TSX Venture Exchange on September 2, 2021.
The exercise price for these warrants remains unchanged at $0.08. The extension is subject to approval from the TSX Venture Exchange.
International Lithium (ILHMF) has finalized the purchase of a 90% stake in the Firesteel Copper-Cobalt Project near Upsala, Ontario. The transaction involves milestone payments totaling up to CAD $2.165 million. The company has also applied for drilling permits to begin a 2,000-meter drilling program targeting copper mineralization. Preliminary surveys identified promising anomalies correlating with surface samples and historic drill data. Firesteel spans 6,600 hectares with excellent infrastructure access, including proximity to Highway 17 and a natural gas pipeline. Initial exploration results have shown significant copper and cobalt presence.
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