The acquisition consolidates Liontown’s ownership of the emerging WA lithium project with revenue and production royalties relating to lithium and related minerals are being acquired for total consideration of $2 million in cash.
Buldania is around 30 kilometres east of Norseman and is Liontown’s second WA lithium project.
It's being progressed alongside its flagship Kathleen Valley Lithium Project, with a substantial resource drilling program currently in progress.
The acquisition is not subject to any conditions precedent and the transaction is expected to complete within the next 5 business days.
Shares in Liontown Resources (ASX:LTR) trading 10 per cent higher at 17 cents.