American Lithium said it has made the decision to pursue a “spin-out” of its Macusani uranium project in Peru into an independent public company.
The company views a spin-out of the project into a stand-alone vehicle as the preferred route to generate value for American Lithium and its shareholders from the continued development of the large-scale uranium project.
Additionally, the spin-out will allow the Canadian-based company to concentrate its efforts on advancing its two premier lithium projects: TLC in Nevada (USA) and Falchani in southeastern Peru.
The restructuring of Macusani’s ownership is well advanced, and American Lithium said it anticipates being in a position to finalize the terms of the transaction in early 2023.
Macusani is a low-capex, large-scale pre-development stage uranium project containing significant measured, indicated and inferred uranium resources.
Source: American Lithium