Chariot Resources says it has lined up a partner-backed agreement for its Nigerian lithium projects, with shares rising following the news. The company signs a term sheet with a subsidiary of Chinese firm Xiamen C&D, along with other participants, covering a funded work program.
Under the proposed arrangement, the partner(s) fund drilling, trial mining and related activities, and the deal includes an offtake component for lithium output from the projects. Multiple outlets describe the structure as a trial-mining and offtake program supported by the China-linked company.
All sources frame the announcement similarly, with the key differences mainly in wording rather than substance. They consistently identify Chariot as the Australian company, Xiamen C&D as the China-backed counterparty, and Nigeria as the project location, while attributing the immediate share-price reaction to investor response to the proposed offtake and funding terms.
