Partnership with MinRes on Horse Rocks Lithium Project

Lord Resources Limited (ASX: $LRD) has entered into a binding farm-in agreement with Mineral Resources Limited (MinRes) for the Horse Rocks Lithium Project. Under the agreement, MinRes will spend $1 million in exploration to earn 40% of the project, subject to satisfactory due diligence. This strategic partnership aims to leverage MinRes's expertise in lithium exploration and production, providing Lord with non-dilutive funding and access to valuable knowledge.

Managing Director's Perspective on the Partnership

Managing Director Barnaby Egerton-Warburton expressed excitement about the strategic partnership, highlighting the validation of Lord's work and the opportunity to collaborate with a world-class exploration team. He also emphasized the two-headed lithium exploration strategy, indicating the potential for long-term value creation.

Outlook and Future Plans

The partnership with MinRes signifies Lord's commitment to unlocking the full potential of its lithium projects. With MinRes's confidence demonstrated through the farm-in obligations, Lord aims to advance the Horse Rocks Lithium Project while ramping up exploration at the Jingjing Lithium Project. The outlook appears promising as the collaboration is expected to drive exploration activities and create long-term value for shareholders.