Perth, Australia – 16 September 2025 – Pantera Lithium Limited (ASX: PFE) (“Pantera” or the “Company”) is pleased to provide an update on the proposed sale of Daytona Lithium Pty Ltd to Energy Exploration Technologies Inc. (“EnergyX”).
Key Highlights
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Pantera shareholders overwhelmingly voted in favour of the EnergyX transaction, demonstrating strong investor support for the strategic alignment and value creation.
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All financial, legal, and technical due diligence has been successfully completed to the satisfaction of both parties.
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Closing of the transaction remains targeted for early October 2025.
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Pantera is actively reviewing expansion into U.S. critical minerals beyond lithium, with a focus on antimony, silver, copper, rare earth elements, and polymetallic prospects.
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EnergyX is advancing its Project Lonestar™ Lithium development in the Smackover formation, with a demonstration plant nearing completion.
Shareholder Approval
At its recent general meeting, Pantera confirmed that shareholders overwhelmingly voted in favour of the proposed sale of Daytona Lithium to EnergyX. This strong endorsement underscores broad investor confidence in the strategic alignment between the two companies and the transaction’s potential to deliver significant value.
Completion of Due Diligence
Pantera has finalised all financial, legal, and technical due diligence matters in line with the Binding Term Sheet announced on 25 June 2025. This milestone clears the way for closing, which remains on track for early October 2025.
Expansion Strategy in U.S. Critical Minerals
Parallel to the transaction, Pantera is advancing its broader U.S. exploration and development strategy. The Company is targeting high-demand critical minerals including antimony, silver, copper, rare earth elements, and other strategic resources. These assets are located in regions with strong infrastructure and supportive regulatory frameworks, enhancing Pantera’s ability to diversify and strengthen its portfolio within the North American supply chain.
Next Steps; EnergyX Development
Pantera continues to work with EnergyX to finalise definitive agreements and satisfy the remaining conditions precedent to closing.
EnergyX is progressing development of its flagship Project Lonestar™, an anticipated 50,000 tpa lithium hydroxide (LiOH) plant. Of this, the contemplated 35,000 gross acres contributed by Pantera will form part of the project. Construction of the associated demonstration plant in the Smackover formation is in its final stages, with forecast production of 200–300 tpa of lithium concentrate and 60 tpa of battery-grade LiOH.
Chairman & CEO Comment
Barnaby Egerton-Warburton, Executive Chairman and CEO of Pantera Lithium, said:
“I am pleased with the progress of the transaction and expect it to complete in early October 2025. I am also very excited by the opportunities we are seeing on other assets and look forward to sharing details with shareholders imminently.”
About us:
About Pantera Lithium
Pantera Lithium Limited (ASX: PFE) is a forward-looking critical minerals exploration and development company focused on advancing projects in critical minerals across the United States with a particular focus on its projects located in Southwest Arkansas. With newly acquired mineral leases covering historically productive ground, Pantera is positioned to re-establish exploration in a district that has seen no systematic modern work for nearly a century.
The Company is committed to leveraging modern exploration methods — including geochemistry, geophysics, and advanced modelling — to unlock value in regions historically mined for critical minerals, which are recognised by the U.S. government as essential to supply chain security.
Contact details:
JANE MORGAN
Investor Relations, Jane Morgan Management
+ 61 405 555 618