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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.

Pantera confirmed it had executed a binding term sheet with EnergyX to sell Daytona Lithium Pty Ltd, which holds Pantera’s interests in the Smackover Project. The deal includes a total consideration of AUD 40 million, though further specifics regarding the payment structure including cash, shares, or milestone-linked tranches were not disclosed in the initial release.

Pantera’s Executive Chairman, Barnaby Egerton-Warburton, and EnergyX CEO Teague Egan are expected to provide further details during an investor webinar later this week. The presentation will outline the implications of the divestment and future strategic focus for both companies.

The Smackover Project is located in southern Arkansas and is considered a lithium brine asset within the Smackover Formation, a geological zone known for lithium-bearing brines. Pantera acquired Daytona Lithium and its interest in the project in mid-2023.

Since then, the company has conducted early-stage exploration, permitting, and feasibility studies in preparation for future development or transaction opportunities. The sale to EnergyX marks the conclusion of Pantera’s direct involvement in the U.S. lithium brine sector  at least through this asset.

EnergyX is expected to advance the project with its proprietary direct lithium extraction (DLE) technologies, which are currently being piloted in various North American locations.

As of 9 July 2025, the stock had more than doubled, making it one of the top gainers on the ASX for the day.

Pantera has invited shareholders and the broader investment community to participate in a webinar briefing hosted by senior executives from both Pantera and EnergyX. The session is expected to cover the rationale behind the sale, potential use of proceeds, and how the transaction aligns with Pantera’s forward strategy.

No updated financial guidance or capital management initiatives were included in Wednesday’s announcement, but further updates are anticipated once the transaction terms are finalized and approvals are secured.

About Pantera Lithium

Pantera Lithium Limited is a mineral exploration company based in Australia, primarily focused on lithium and critical minerals projects. The company has pursued assets in both domestic and international markets, including North America.

Pantera has targeted early-stage exploration and project acquisition opportunities with a view to developing or monetizing assets through joint ventures, sales, or downstream partnerships. The company’s remaining asset portfolio includes exploration interests in Australia, though the Daytona Lithium sale marks a potential pivot in its strategic direction.