SUPERBIRD LITHIUM BRINE PROJECT
Pantera acquired in August 2023 a 35% interest in the Superbird Lithium Project in the lithium-rich ‘Smackover Formation’, in Arkansas, USA, with an investment into Daytona Lithium. Superbird consists of 5,325 acres of brine leases, directly abutting Exxon’s Arkansas Lithium Brine project.
The ‘Smackover Formation’ is considered to be one of the significant lithium regions globally, and is home to major brine plays including the nearby:
- Exxon (NYSE:XOM) Smackover Lithium Brine Project
- Standard Lithium (NYSE:SLI) Lanxess & South West Arkansas Project
- Albemarle Corporation (NYSE:ALB) Lithium-Bromine Brine Project
The 35% Superbird interest was secured via a $2 million convertible note facility to project holder Daytona Lithium, with the funds to increase the project footprint.
- Pantera are executing an aggressive brine leasing strategy, driven by their proprietary database, with proceeds from the convertible note be applied by Daytona towards their continued leasing strategy
- The Project has entered into an exclusive agreement with a commercial leasing abstract company, the only such provider for the region, engaged to provide a further 50,000 acres of lease abstract. Understanding of the mineral ownership is the key element of obtaining lithium brine leases, and this arrangement allows Pantera to quickly make leasing offers to mineral owners– a key commercial advantage