Global Uranium sells Australia lithium asset

Australia-based Global Uranium on Monday announced the sale of its Lake Johnston lithium project, in Western Australia, to Intra Energy Corporation (IEC), as the company shifts its focus to building size and scale in the North American uranium industry. Global will sell its 80% interest in Lake Johnston for up to A$2.125-million, including A$175 000 in cash and the issue of 30-million shares at completion of the sale. The remaining deferred consideration will be issued in shares or paid in cash subject to certain milestones.