MetalsTech (ASX:MTC) is in talks with North American-based strategic parties, including Lithium Royalty Corp (TSE:LIRC), as part of the company’s growth strategy to grow its presence in Canada.
The company has already taken its first step on this journey, today (27 September 2023) announcing it has acquired a 100% interest in the 300km-square Sauvolles Lithium Project.
Speaking to Mining.com.au, MetalsTech Director Gino D’Anna says the Sauvolles deal is only the beginning for the company, with plans to secure further Canadian lithium assets before the end of 2023 through acquisitions or joint ventures (JVs) with other junior explorers.
He tells this news service MetalsTech is looking to establish a stronger foothold in the prolific James Bay Lithium District of Quebec in particular.
“Are we looking at other battery metal acquisitions? Yes, absolutely. We’re looking at a couple of other lithium acquisitions at the moment. They will take shape before Christmas this year.
“Are we looking at other battery metal acquisitions? Yes, absolutely. We’re looking at a couple of other lithium acquisitions at the moment. They will take shape before Christmas this year“
We never obviously say no to a potential deal structure that makes sense for our shareholders. We are obviously looking at other opportunities there because there are other consolidation opportunities that will be available whether it’s through acquisition or joint venture as well.”
MetalsTech started its life in hard rock lithium in the James Bay District, the Director says, adding the company has significant experience and expertise in “knowing what we’re looking for and how to deal with it”.
“We look at it as being an awesome opportunity to diversify the asset base of the company, as well as give shareholders and investors another opportunity to get involved in early lithium exploration in the James Bay District. We’re certainly very much focused on what’s happening there, but at the same time, it’s an awesome opportunity to give investors exposure to a burgeoning and growing market.
We are at a very hot address. We have been able to acquire some of the best ground that is remaining in this region.”
Meanwhile, D’Anna adds the company is also looking at establishing a presence in other mining jurisdictions and is actively assessing assets in Western Australia, which he says has become one of the leading producing regions of lithium and downstream lithium chemicals.
“We’re also looking at a couple of assets that are European based as well and that makes sense for us because we’ve built a strong team in Slovakia. Having assets which are in Europe is very sensible for us.”
MetalsTech’s desire is to continue branching into other critically needed commodities, with its sights set on tapping into both the copper and nickel markets in 2024.
“What other commodities are we looking at? Copper is one that really makes sense for us to try and take advantage of as well. From our perspective, we don’t want to migrate and move too broadly in terms of taking projects across different commodities that don’t sort of sensibly go together.
So definitely looking at nickel sulphide projects and definitely looking at copper projects, which we think complements our lithium exposure now as well.”
D’Anna says the company’s acquisitive strategy will run in tandem with its exploration focus.
“As far as the lithium projects in the James Bay area are concerned, the field program is ready to kick off very shortly. We’ve engaged our team from Magnor Exploration, which is a very well-established Quebec-based exploration outfit.
They’ve got access to all the key geologists as well as drill rigs that we need, and they’re ready to mobilise in the next sort of week or thereabouts at the same time as we actually get boots on the ground.
Separate teams are going to be manning the exploration campaign so there’s never going to be a situation where the company is finding itself under-resourced from a personnel perspective.
So, we feel like we’re able to manage our exposure. The idea of acquiring more assets and getting more exposure to particular sectors and different jurisdictions is something that we’re very keen to do.”
MetalsTech is an ASX-listed developer working to develop its ‘world-class’ Sturec Gold mine located between the town of Kremnica and the village of Lucky in Slovakia.
The company had $800,000 cash and cash equivalents at hand as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: MetalsTech
