Infinity Lithium Secures Key Australian Projects, Faces Spanish Licensing Extension

Australian Exploration Momentum

Infinity Lithium Corporation has made significant strides in its Australian precious metals portfolio during the June quarter, notably through the execution of option agreements to acquire and joint venture key projects in Victoria’s Lachlan Fold Belt. The company secured a 100% acquisition option for the Mitta Mitta gold-copper project and an earn-in joint venture option for the Corryong molybdenum-copper-silver project, both held by Dart Mining.

These projects, adjacent to Infinity’s existing tenements acquired earlier in the year, offer promising high-grade targets with historical gold fields and substantial untested potential. However, the company has encountered a delay in commencing its maiden drilling program, citing drill rig availability as the primary cause. Despite this, fieldwork and due diligence activities have continued, with the option period extended by 30 days to allow for comprehensive evaluation.

Challenges and Extensions in Spain

On the lithium front, Infinity’s San José project in Spain remains a focal point but faces regulatory hurdles. The company received a three-month extension to submit additional technical and metallurgical documentation required for its mining license application, pushing the deadline to early October 2025. This extension provides some breathing room amid complex permitting processes overseen by regional authorities in Extremadura.

However, Infinity has withdrawn from the Spanish government’s PERTE VEC IIa grant program, a move driven by ongoing delays and regulatory uncertainties. The company has returned approximately €19.8 million in grant funds and interest, signaling a strategic pivot away from reliance on this funding source. This decision underscores the challenges foreign mining companies often face navigating European regulatory frameworks.

Financial and Strategic Outlook

Financially, Infinity Lithium reported a cash balance of A$3.2 million at the end of June, excluding nearly A$1.9 million held for PERTE interest remitted after quarter-end. The board continues to focus on cost minimization and aligning management oversight with the evolving demands of the Spanish licensing process.

Strategically, the company is prioritizing rapid and cost-effective exploration in Australia’s burgeoning gold and silver sector, capitalizing on strengthening metal prices and regional activity. Meanwhile, it seeks pathways to preserve value in its Spanish lithium asset, which remains a potentially critical component in the European battery supply chain despite current setbacks.

Infinity’s dual focus on precious metals in Australia and lithium in Europe reflects a balanced approach to resource development, though the contrasting regulatory environments and operational challenges highlight the complexities of global mining ventures.