Home > Projects > Widgiemooltha > Widgiemooltha – Lithium

Widgiemooltha – Lithium

Emerging as new lithium belt The Widgiemooltha project is located well inside the lithium “goldilocks zone.” 

Project overview

• Mt Marion, Bald Hill and Buldania projects all lie within 25km of Dynamic tenure
• Directly adjacent to Develop Group’s (ASX: DVP) Dome North lithium project and Sinclair LCT mine
• In March 2024, Dynamic entered into a binding joint venture and farm-in agreement with a 100% owned subsidiary of Mineral Resources Limited (ASX: MIN) (MinRes), whereby Dynamic will sell 40% of its lithium rights on the Widgiemooltha Project for a purchase price of $5m (subject to conditions):
  • MinRes can sole fund $15M of expenditure over 4 years to increase its stake in the JV to 65% (“Stage 2”)
  • At the completion of Stage 2, MinRes may elect to increase its stake in the JV to 80% by sole funding expenditure through to a Decision to Mine (“Stage 3”)
  • At the completion of Stage 3, Dynamic may contribute pro rata its proportion of JV costs going forward, or convert its interest into a royalty
  • Dynamic retains rights to all minerals other than lithium over the Project and maintains access to all areas of the Project

1. Widgie Nickel Ltd ASX Announcement 8 November 2023: “375% Growth in Faraday-Trainline Lithium Mineral Resource”
2. Develop (previously Essential Minerals) ASX:DVP ASX Announcement 20 December 2022: “Dome North Resource upgrade”
3. Mineral Resource ASX:MIN ASX Announcement 22 September 2023: “Mineral Resources & Ore Reserves Update”
4. Liontown ASX:LTR ASX Announcement 8 November 2019: “Maiden Lithium Mineral Resource Estimate at Buldania”
5. Tawana Resources ASX:TAW ASX announcement 6 June 2018: “Lithium Ore Reserve Increase of 105% at Bald Hill”