Chariot Resources (ASX:CC9) Shares Surge 17% as Global Battery Player Steps In

Aditi Sarkar

19 February 2026 07:40 PM AEDT

Chariot Resources (ASX:CC9) Shares Surge 17% as Global Battery Player Steps In

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Highlights

Chariot Resources shares jumped 17.24% to AUD 0.17 on 19 February 2026 following a strategic investment by Greatpower.
Binding subscription agreement to raise AUD 1.425 million via placement at AUD 0.15 per share.
Greatpower to receive 9.5 million shares and 19.0 million free-attaching unlisted options.
Parties in advanced discussions on project-level financing and offtake for Chariot’s Nigerian lithium portfolio.
Proceeds to accelerate exploration and development and strengthen the balance sheet.

Chariot Resources Ltd (ASX:CC9) shares rallied 17.24% to AUD 0.17 on 19 February 2026, extending gains to 88.89% over the past year. Today’s favourable price movement followed the announcement of a strategic investment from Jiangsu Greatpower NexEnergy Technology Co., Ltd., an affiliate of Shanghai Greatpower Nickel & Cobalt Materials Co., Ltd. (collectively, Greatpower).

Under a binding subscription agreement, Greatpower has agreed to invest AUD 1.425 million through the subscription of 9,500,000 fully paid ordinary shares at AUD 0.15 per share. In addition, Greatpower will receive 19,000,000 free-attaching unlisted options, exercisable at AUD 0.30 per option and expiring two years from the date of issue. The new shares will rank equally with existing shares and will be quoted on the ASX, while the options will remain unlisted.

Completion of the transaction remains subject to PRC outbound investment and foreign exchange approvals, with a long stop date of 15 April 2026.

Positioning Nigerian Lithium Assets for Funding and Offtake

Beyond the equity placement, Chariot confirmed it is in advanced discussions with Greatpower regarding a proposed framework that may lead to project-level financing and offtake arrangements for its Nigerian lithium project portfolio.

The potential framework may include prepayment funding to support early small-scale mining, structured repayment through product delivery under an offtake agreement. Discussions also contemplate exclusive offtake rights over early production, options for Greatpower to fund exploration and development programs, potential minority equity participation in selected assets, and life-of-mine offtake rights on agreed commercial terms.

The proceeds from the AUD 1.425 million subscription are intended primarily to accelerate exploration and development activities across Chariot’s Nigerian lithium portfolio while strengthening the company’s balance sheet. The company noted there is no certainty that definitive agreements for project-level funding or offtake will be concluded.

Alignment with Global Battery Materials Leader

Greatpower is a China-based battery materials and energy technology group with over two decades of experience across nickel, cobalt, lithium and related critical minerals. It supplies battery metals and cathode materials to global customers, including LG Energy Solution, which holds a 4.02% equity interest in Greatpower.

Chariot believes the investment aligns its upstream lithium assets with an established downstream battery materials group, potentially creating a pathway from resource development to end-market demand. The partnership may also extend to cooperation in intelligent electric mining solutions as part of project development initiatives in Nigeria.

Upon receipt of the subscription proceeds, Chariot will pay a 6.0% success-based cash fee on gross funds received and issue 5,000,000 unlisted options exercisable at AUD 0.30 per share, expiring two years from the date of issue.

What This Means for Investors?

Today’s share price reaction reflects investor interest in the entry of a globally connected battery materials group onto Chariot’s register, alongside the prospect of structured project-level funding and offtake discussions. While completion remains conditional and definitive agreements are yet to be finalised, the strategic alignment is viewed as a step toward advancing Chariot’s Nigerian lithium assets within the broader lithium-ion supply chain.

Frequently Asked Questions (FAQs)

Why did Chariot Resources shares rise on 19 February 2026?

Shares of Chariot Resources (ASX:CC9) increased 17.24% to AUD 0.17 after the company announced a strategic investment of AUD 1.425 million by Greatpower and ongoing discussions regarding project-level financing and offtake.

What are the key terms of the Greatpower investment?

Greatpower will subscribe for 9,500,000 shares at AUD 0.15 per share and receive 19,000,000 unlisted options exercisable at AUD 0.30, subject to regulatory approvals.

How will the funds be used?

The proceeds are intended to accelerate exploration and development of Chariot’s Nigerian lithium projects and strengthen the company’s balance sheet.

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