Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1% Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1%
M&A / Property

Azimut closes sale of 50% of Galinee property

By The Northwire Desk — AI Analysis Feb 18, 2026 · 12:15 AZM · 0.71 Azimut Exploration Inc.
AZM · Price

Executive Summary

  • Azimut Exploration Inc. has closed the sale of its 50% interest in the Galinee lithium property in Quebec to Li-FT Power Ltd.
  • The transaction consideration consists of 2 million Li-FT common shares, a retained 1.4% NSR royalty, and a $1.5M deferred payment, with total consideration valued at approximately $13.4 million.
  • The transaction aligns with Azimut's strategic pivot to focus on its flagship Elmer and Wabamisk properties, which are slated for a combined 17,000-metre drilling program in early 2026.

Key Details

  • Transaction Structure: Sale of Azimut's 50% interest in the Galinee property (Eeyou Istchee James Bay region, Quebec) to Li-FT Power Ltd.
  • Equity Consideration: 2,000,000 common shares of Li-FT Power Ltd. issued to Azimut.
  • Royalty Retention: Azimut retains a 1.4% NSR (net smelter return) royalty on the Galinee property for long-term exposure to future developments.
  • Deferred Payment: $1.5 million payable in cash or, at Azimut's option, in Li-FT common shares (subject to agreement terms), due at the earlier of 18 months or public disclosure of a technical report containing an economic analysis of development scenarios.
  • Valuation: Total consideration valued at ~$13.4 million based on Li-FT's TSXV closing price of $6.70/share on Feb. 17, 2026.
  • Portfolio & Strategic Impact: Transaction supports Azimut's strategy to concentrate on flagship properties Elmer and Wabamisk. Azimut now holds equity interests valued at ~$15 million across various companies and maintains royalty interests on three adjacent lithium properties (2% NSR on JBN-57/Pikwa for PMET Resources' Shaakichiuwaanaan project; 1% NSR on Pikwa; 1.4% NSR on Galinee for Winsome Resources' Adina project).
  • Upcoming Operations: Announced drill programs totaling at least 17,000 metres for early 2026, including:
  • Completion of drilling on the Fortin zone (Wabamisk)
  • Commencement of follow-up drilling on the Rosa zone (Wabamisk)
  • Early March drilling program at the Elmer property
Read the original news release →

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