FMG Resources Pty Ltd acquired two non-core Exploration Licenses E45/6278 and E45/6280 from Accelerate Resources Limited (ASX:AX8) for AUD 0.8 million on February 28, 2024. Under the deal terms, AUD 300,000 cash payment at the time of sale completion; and a milestone payment of AUD 500,000 cash upon Fortescue commencing mining within the ELs. Accelerate Resources will use the proceeds from the sale of the ELs will be used to support the budget for the upcoming exploration and drilling campaign at Prinsep and within the greater Karratha Lithium Projects portfolio.

FMG Resources Pty Ltd completed the acquisition of two non-core Exploration Licenses E45/6278 and E45/6280 from Accelerate Resources Limited (ASX:AX8) on February 28, 2024.