Greenwing Resources Ltd has announced that the call option previously granted to Blue Northstar Limited, a wholly-owned subsidiary of NIO Inc., expired unexercised on 27 May 2025. The option, originally established on 26 September 2022, would have allowed NIO to acquire between 20% and 40% of the issued capital of Andes Litio SA at an exercise price ranging from US$40 million to US$80 million. As a result, and in accordance with the terms of the call option deed, the opportunity has now lapsed. The announcement comes amid promising developments at Andes Litio SA, which holds the right to acquire the San Jorge Lithium Brine Project in Argentina. The project encompasses 15 granted exploration licenses over an extensive salar area with an additional 36,000 hectares, signaling strategic value in one of the world’s premier lithium jurisdictions. Earlier drilling operations in 2024, involving six holes, led to a maiden Mineral Resource Estimate indicating 1.07 million tonnes of Lithium Carbonate Equivalent. Of this, 670,000 tonnes are categorized as Indicated (representing 62.7% of the resource) and the remaining 400,000 tonnes as Inferred. The resource remains open to additional expansion directions including the west, north, and at greater depths. In conjunction with these developments, Greenwing Resources Ltd is progressing with a capital raising initiative announced on 28 April 2025. The funds will support a comprehensive review of exploration data to optimize the upcoming second drilling program aimed at further delineating the project’s more prospective mineralization areas. The company is actively evaluating its future funding requirements to ensure that it can sustain the momentum and capitalize on the growth potential of this strategic asset. From a bullish perspective, the lapse of the option may allow Greenwing Resources Ltd greater flexibility in managing its strategic interests and investments, particularly at a project that has already delivered significant exploration results. The successful capital raising and the positive maiden resource estimate could pave the way for follow-up drilling success, enhancing the company’s future prospects in a high-demand lithium market. Conversely, a bearish outlook might focus on the implications of NIO Inc.’s decision not to exercise the option, casting a shadow of uncertainty on market confidence. Additionally, the need for further funding to support the next phase of exploration introduces potential risks associated with capital allocation and project execution for a resource enterprise facing inherent market volatility.