01:16 PM EDT, 09/22/2025 (MT Newswires) -- Lithium South Development ( LISMF ) on Monday said POSCO Argentina has completed its due diligence on the Hombre Muerto North Lithium project.

The Korean steel and battery materials producer is proceeding with negotiating the definitive agreement to acquire the project from Lithium South for US$62 million.

The Hombre Muerto project is adjacent to a large lithium development project run by Posco Argentina that has begun lithium production. It is also Lithium South's sole asset. Once the definitive agreement has been signed, an Annual General and Special meeting will be called for shareholder to vote on the proposed sale and an issuer bid to purchase up to all of the company securities.

Lithium South last traded on Sept. 19, closing at $0.355 on the Toronto Stock Exchange.