Core Lithium's strategic investments in Charger Metals and Bynoe Project

Core Lithium Ltd (ASX:CXO) has announced its strategic investments in Charger Metals NL (ASX:CHR) and the Bynoe Project. The company has agreed to acquire 7.6 million Charger shares from Lithium Australia, representing approximately 9.8% of Charger's shares on issue. Additionally, Core has secured a 30% free carried interest in Charger's Bynoe Lithium Project from Lithium Australia. These investments align with Core's vision to generate sustained value for shareholders from critical minerals exploration and mining projects.

Executive Commentary on Strategic Investments

Now that Core has agreed to purchase a strategic stake in Charger and may also purchase a strategic stake in Bynoe, Core is willing to remain a strategic investor in Charger and Bynoe. Equally, Core remains open to discussing the progression of its NBIO with Charger should Charger's board be willing to do so in a constructive manner. In the present circumstances, without access to due diligence information and subject to the actions of Charger or third parties, Core has no current intention to make a takeover offer for Charger.

Summary of Core Lithium's Strategic Investments

Core Lithium's acquisition of 7.6 million Charger shares and a 30% interest in Bynoe from Lithium Australia demonstrates the company's commitment to strengthening its position in the lithium sector. The strategic investments in Charger Metals and the Bynoe Project align with Core's vision to generate sustained value for shareholders from critical minerals exploration and mining projects. The company's willingness to remain a strategic investor in Charger and Bynoe, along with its openness to discussing the progression of its NBIO with Charger, reflects its commitment to constructive engagement. Core's current intention not to make a takeover offer for Charger, given the present circumstances, emphasizes its strategic approach to investment and growth in the sector.