Avenira (ASX:AEV) said its license and technology transfer agreement with Advanced Lithium Electrochemistry has been terminated, effective Tuesday, due to evolving market conditions, according to a Wednesday Australian bourse filing.
The company will not be required to make a further license payment, which was due on Jan. 1, the filing said.
The company has decided to focus on its Wonarah phosphate project where it plans regulatory, technical, and feasibility studies along with early revenue generation through stage 2 direct ore shipment as it starts operations in the late third quarter or early fourth quarter of the year, added the filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.