5E Advanced Materials Completes Assignment of Salt Wells Project
HESPERIA, Calif., May 22, 2023 (GLOBE NEWSWIRE) — 5E Advanced Materials, Inc. (Nasdaq:FEAM) (ASX: 5EA) (“5E” or the “Company”), a boron and lithium company with U.S. government Critical Infrastructure designation for its 5E Boron Americas (Fort Cady) Complex, is pleased to announce it has entered into an assignment agreement with Osmond Resources Limited (ASX:OSM) (“Osmond”). The new agreement with Osmond provides optionality for 5E to retain an interest in the greenfield Salt Wells Project while deferring additional spending requirements to Osmond in the near term. This agreement aligns with the Company’s strategy and overall goal of bringing its 5E Boron Americas Complex in southern California online and becoming the first new producer of borate and lithium in the U.S.
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