Value of the graphite, lithium, nickel, cobalt and magnesium contained in EV batteries is up 38% from the lows struck in January.
Cosa will acquire a 70% interest in Denison's Murphy Lake North, Darby and Packrat properties.
The funding represents 100% of the capital expenditure outlined in a May 2024 feasibility study.
Once complete, the Guben converter will be the first of its kind in Europe, with expected annual production of 24,000 tonnes of lithium hydroxide.
