According to the company, the $65m commitment, provided by a new institutional investor, is structured as a secured loan.
The project has permits and infrastructure in place, major equipment on site and is backed by a fully funded capital programme.
The Franklin project contains a resource of 2.16mt of lithium carbonate equivalent.
According to Vault, the owner-operator model offers superior cost efficiency and enhanced cost control.
Approval for the Lucky Strike mine includes an MDCP from the DMPE.
