Force Commodities (ASX:4CE)
Force Commodities Limited (ASX: 4CE) this week executed a binding Heads of Agreement (HOA) to acquire majority interests in two lithium projects in the DRC.
With lithium still rising in demand, it’s the perfect time to enter the lithium exploration fray in a region that is highly prospective and entertains companies with market caps of hundreds of millions of dollars.
4CE’s deal gives it access to one mining licence and one exploration license, extending over 500 square kilometres in an area known to have the largest and highest grade pegmatites in the world.
4CE is also located just 50km from AVZ Minerals which has increased in value over 633% over the past year after reporting high grade lithium in its initial exploration and drilling program.
4CE will be looking for much the same traction.
With the option to secure additional exploration licenses in a joint venture with the DRC state mining company, the company has aligned its exploration pursuits with the heightened demand for new energy metals.
And having just raised money, 4CE can now focus on its exploration program in a region that hosts the US$10.4 billion Glencore, Fortune 500 company China Non-Ferrous Metals Co and of course the $130 million AVZ.
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This small cap explorer has been valued by the market at just $7 million, compared to nearby AVZ and its $130 million market cap.
Could this acquisition prove to be the move that lifts its valuation?
$12M capped 4CE to Acquire Lithium Ground 30km from $130M AVZ
Aug 10, 2017
Just this week Force Commodities Limited (ASX:4CE) executed a binding Heads of Agreement (HOA) to acquire majority interests in two lithium projects in the DRC. Both are considered highly prospective for lithium, as well as tin and tantalum.