Global Lithium Resources Limited (ASX: GL1, “Global Lithium” or “the Company”), is pleased to announce that MB Gold Limited (ASX:MBG) has been admitted to the Official List of the ASX and the securities will commence trading at 2.00pm AEDT today.
The listing of MB Gold Limited on the Australian Securities Exchange today, follows a highly successful and oversubscribed Initial Public Offering (IPO).
The completion of this strategic spin-out marks another significant milestone for GL1, enabling the Company to dedicate its resources, expertise and capital primarily towards accelerating its flagship Manna Lithium Project, near Kalgoorlie in Western Australia, toward a Final Investment Decision by the end of 2026.
Global Lithium Resources Managing Director, Dr. Dianmin Chen, said the successful listing of MBG on the ASX was testament to the belief in the opportunity presented by these high-quality assets and the commitment of all involved in the transaction and IPO process designed to unlock their value.
“This gold focused spin-out allows GL1 to channel its attention and resources substantially towards the continued advancement of our world-class Manna Lithium Project. The Company is well funded with $20.7m cash in the bank toward a Final Investment Decision within this calendar year,” Dr Chen said.
