STTCOMP AZL FA LONG
Market Cap: $99.09 million
Share Price: $0.026
Shares: 3.81 billion
Overview
MINING SERVICES AGREEMENT WITH NTEC FOR
DEVELOPMENT & PRODUCTION AT BIG SANDY
HIGHLIGHTS
• AZL has entered into a binding Mining Services Agreement for Big Sandy with Navajo Transitional Energy Company (“NTEC”), wholly owned by the Navajo Nation.
• NTEC will be responsible for managing the permitting requirements, additional exploration drilling, mine design, environmental assessments, and development to the commencement of mining for the Big Sandy Lithium Project.
• NTEC is a world class mining and energy company with extensive experience in both permitting and mining operations, owns the Navajo Mine and operates mines in Montana and Wyoming.
• Vern Lund, CEO of NTEC, to join the AZL Board with over 25 years of experience in mining operational management, business development and new project development.
• NTEC’s remuneration is via the issue of 424,242,424 AZL shares at 7.5 cents, which are subject to the achievement of various milestones including full permitting of the Big Sandy Lithium Project and shareholder approval.
• NTEC has an outstanding safety record and environmental record in previous operations and will apply these to the Big Sandy Lithium Project.
• AZL to maintain 100% ownership of the Big Sandy Lithium Project
