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Highlights:
- PFE shares surged 116.67% to AUD 0.026 after announcing sale of Daytona Lithium subsidiary.
- Pantera Lithium entered a binding agreement with U.S.-based EnergyX for AUD 40 million.
- PFE to divest the Smackover Lithium Project, located in Arkansas, through the Daytona transaction.
Shares in Pantera Lithium Limited (ASX:PFE) surged on Tuesday following the announcement of a significant divestment agreement involving its U.S.-based lithium project. The company revealed that it has signed a binding term sheet to sell its wholly owned subsidiary, Daytona Lithium Pty Ltd, to U.S. lithium technology company Energy Exploration Technologies Inc. (EnergyX).
By midday on 9 July 2025, PFE shares were trading 116.67% higher at AUD 0.026 per share, reacting to the news of the deal, which values the transaction at AUD 40 million. The agreement will see Pantera transfer ownership of the Smackover Lithium Project, located in Arkansas, to EnergyX, a private U.S. firm focused on advanced lithium extraction and production technologies.
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