Azimut Exits Galinée Lithium Property for $13.4M in LiFT Shares and Royalties

Event summary

  • Azimut sold its 50% stake in the Galinée lithium property to LiFT Power for 2M shares and a $1.5M deferred payment, totaling $13.4M based on Feb. 17, 2026 share prices.
  • Azimut retains a 1.4% NSR royalty on the property, adding to its existing 2% NSR on PMET’s Shaakichiuwaanaan project and 1% NSR on the Pikwa Property.
  • The deal supports Azimut’s focus on flagship properties Elmer and Wabamisk, with 17,000m of drilling planned for early 2026.
  • LiFT, focused on lithium exploration, gains full control of Galinée adjacent to Winsome Resources’ Adina project.

The big picture

Azimut’s exit from Galinée reflects a broader trend of junior miners monetizing non-core assets to fund high-potential projects amid volatile commodity markets. The $13.4M deal underscores lithium’s strategic importance in Quebec, where adjacent projects like Winsome’s Adina are attracting significant investment. Azimut’s retention of royalties positions it to benefit from future upside without operational risk.

What we're watching

Royalty Portfolio
How Azimut’s growing royalty interests will offset its reduced equity exposure to lithium.
Drilling Results
Whether early 2026 drill programs at Elmer and Wabamisk validate Azimut’s strategic pivot.
Lithium Market
The pace at which LiFT advances Galinée amid rising demand for Quebec-based lithium assets.

Related topics

Mining