Pantera Lithium Secures Shareholder Backing for EnergyX Deal, Eyes US Expansion
Pantera Lithium has won strong shareholder approval for its sale of Daytona Lithium to EnergyX, with due diligence complete and closing expected soon. Meanwhile, Pantera is broadening its US critical minerals portfolio beyond lithium.
- Shareholders overwhelmingly approve sale of Daytona Lithium to EnergyX
- All financial, legal, and technical due diligence finalized ahead of early October closing
- Pantera expanding exploration into antimony, silver, copper, rare earths, and polymetallics in the US
- EnergyX progressing Project Lonestar lithium hydroxide plant with near-complete demonstration facility
- Pantera aims to diversify and strengthen position in North American critical minerals supply chain
Shareholder Approval Marks Key Milestone
Pantera Lithium Limited (ASX, PFE) has secured overwhelming shareholder support for the proposed sale of its subsidiary Daytona Lithium Pty Ltd to Energy Exploration Technologies Inc. (EnergyX). This decisive endorsement reflects investor confidence in the strategic rationale behind the transaction and its potential to create value.
The approval comes as a critical step forward, clearing the way for Pantera to finalize the deal, which remains on track for completion in early October 2025. The company confirmed that all financial, legal, and technical due diligence processes have been completed to the satisfaction of both parties, removing a significant hurdle in the transaction timeline.
Strategic Expansion Beyond Lithium
While the EnergyX transaction advances, Pantera is simultaneously pursuing a broader strategy to expand its footprint in the US critical minerals sector. The company is actively evaluating new exploration and development opportunities across a diverse range of commodities including antimony, silver, copper, rare earth elements, and polymetallic deposits.
This diversification effort is designed to complement Pantera’s existing lithium assets and position the company as a more versatile player within the North American critical minerals supply chain. By targeting regions with established infrastructure and supportive regulatory environments, Pantera aims to mitigate risks and capitalize on growing demand for strategic minerals essential to emerging technologies and energy transition.
EnergyX’s Project Lonestar Progress
EnergyX is making significant strides with its Project Lonestar lithium hydroxide plant in Smackover, Arkansas. The project includes a demonstration plant nearing completion, expected to produce between 200 and 300 tonnes per annum of lithium concentrate and approximately 60 tonnes of battery-grade lithium hydroxide.
Pantera’s contribution of 35,000 gross acres to the project underscores the collaborative nature of the transaction and the shared ambition to develop a substantial lithium supply hub in the region. The success of Project Lonestar will be a key indicator of the transaction’s long-term value creation potential.
Looking Ahead
Pantera’s leadership remains optimistic about the path forward. Executive Chairman and CEO Barnaby Egerton-Warburton highlighted the company’s excitement about both the transaction’s progress and the promising new asset opportunities under review. As Pantera works to finalize definitive agreements and satisfy remaining conditions precedent, investors will be watching closely for further updates on both the EnergyX deal and Pantera’s expanding US critical minerals portfolio.
Bottom Line?
With shareholder approval secured and due diligence complete, Pantera Lithium is poised to close its EnergyX deal and accelerate its US critical minerals ambitions.
Questions in the middle?
- What are the specific financial terms and valuation details of the EnergyX transaction?
- Which new US mineral assets is Pantera targeting beyond lithium, and what is their development timeline?
- How will Project Lonestar’s demonstration plant performance influence the finalisation and future scale-up of the lithium hydroxide facility?
