Global Lithium Resources Limited (ASX: GL1) is pleased to announce the launch of an Initial Public Offering (IPO) process to spin-out its prospective Marble Bar gold assets into a new entity, MB Gold Limited (MB Gold), targeting Q1 2026 to list on the Australian Securities Exchange under the ticker MBG.
Global Lithium will retain the core lithium tenements and battery mineral rights at its Marble Bar Lithium Project, containing the existing Mineral Resource1 of 18 million tonnes at 1.0% Li2O, located 150km south-east of Port Hedland in Western Australia.
GL1 Managing Director Dr Dianmin Chen said the decision by the Global Lithium Board to spin-out GL1’s gold tenure near Marble Bar was designed to realise value from those assets and reduce tenement holding costs, as part of the Company’s focus on progressing toward development of its flagship Manna Lithium Project near Kalgoorlie.
Global Lithium has entered into an Implementation Agreement with MB Gold which, subject to a successful IPO and receipt of conditional approval for MB Gold to list on the ASX, grants MB Gold the right to acquire certain tenements and 100% interest in the precious and base metal mineral rights for GL1’s prospective gold ground around the Marble Bar Project.
