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M&A / Property

Lithium Ion partner SureFQ Hong Kong exits JV

By The Northwire Desk — AI Analysis Feb 03, 2026 · 11:33 OSM · 0.04 Osiris One Metals Ltd.
OSM · Price

Executive Summary

  • Lithium Ion Energy Ltd. announced that its joint venture partner, SureFQ Hong Kong Ltd., has withdrawn from the Urgakh Naran lithium brine project joint venture.
  • SureFQ exercised its right to withdraw without cause prior to the first anniversary of the agreement, thereby relinquishing all rights and obligations related to the property.
  • The company retains full ownership of the Urgakh Naran project and continues to hold a 20% free carry interest in the Victory copper-gold project in Mongolia.

Key Details

  • Joint Venture Withdrawal: SureFQ Hong Kong Ltd. decided to withdraw from the joint venture regarding the Urgakh Naran property due to internal reasons unrelated to the asset's quality or prospectivity.
  • Contractual Terms: In accordance with the joint venture agreement, SureFQ exercised its right to withdraw without cause prior to the first anniversary of the agreement.
  • Asset Status: SureFQ has relinquished all rights and obligations relating to the Urgakh Naran property, leaving Lithium Ion Energy Ltd. as the sole owner of the wholly owned, highly prospective lithium brine project.
  • Strategic Review: The withdrawal occurred as part of the company's continuing strategic review and broader uplift to align its asset portfolio and legacy agreements with strategic objectives.
  • Other Assets: The company maintains a 20-per-cent free carry interest in the Victory copper-gold project in Mongolia, which is being advanced by Trinity One Metals Ltd.
  • Future Outlook: Lithium Ion remains confident in the geological potential of Urgakh Naran and is actively evaluating strategic pathways to unlock value, while also reviewing additional asset opportunities aligned with its renewed strategic focus.

Notable Quotes

  • "In doing so, the company discussed with SureFQ Hong Kong Ltd. the status of the joint venture regarding the Urgakh Naran property. Following discussions with SureFQ, the company was advised that SureFQ had made the decision to withdraw from the joint venture."
  • "Lithium Ion remains highly confident in the geological potential and strategic merit of the Urgakh Naran project and views it as a quality asset within its portfolio."
  • "The board and management are encouraged by the progress achieved to date in streamlining the company's structure, strengthening its balance sheet and positioning Lithium Ion for its next phase of growth."
Read the original news release →

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