The message seems very clear after what has happened at DLI and...

The message seems very clear after what has happened at DLI and now KM1. It is important to highlight that TOR has said from the very start that it wishes to collaborate with MIN to process Dawn's ore through Bald Hill.

TOR tenements are much better placed than KM1 in my opinion.

Article from The West below.

Chris Ellison waves MinRes into the Kali Metals party after initial IPO rejection by the junior

Chris Ellison has brought his Mineral Resources into the Kali Metals tent, as it can be revealed the junior prevented MinRes from taking a piece of its initial public offering.
On Wednesday the lithium junior’s shares continued to skyrocket, fuelled by the auspiciously timed release of its first exploration results since its debuted on the share market.

Following queries from The West Australian as to why Mr Ellison took a chunky pre-listing stake in Kali via a personal investment vehicle instead of through MinRes — which he is the boss of — a MinRes spokesman said Kali did not want the mining giant involved.

“MinRes held several meetings with Kali Metals over an extended period about the potential for involvement as a joint venture partner and MinRes’ participation in the initial public offering. Those approaches were declined,” he said.

“Kali Metals has been explicit about its decision to exclude companies such as MinRes from the IPO.
“MinRes then invested in Kali Metals at the earliest opportunity, which was on-market after the company listed.”

According to filings released to the market on Wednesday, MinRes has hoovered up a near-10 per cent stake in Kali, which is separate to Mr Ellison’s personal stake of 4.9 per cent he grabbed before the explorer listed on Monday.


Mr Ellison and his associates — including billionaire Tim Roberts and celebrity photographer Russell James — dominate the pointy end of Kali’s register.
Shares in Kali leapt as high as 89¢ on Wednesday morning, before finishing trade at 76¢ — a 45 per cent increase from its previous close.
This continues an extraordinary rise of more than 200 per cent in the space of less than three days from the lithium hopeful’s initial public offering of 25¢.

MinRes bought its portion of Kali for an average of 43¢ per share across Monday and Tuesday, ASX disclosures show.

Just as MinRes finalised its major stake, Kali coincidentally released its first set of exploration results since listing, unveiling rock chip samples on Wednesday from its Higginsville lithium district that encompassed grades of up to 3.69 per cent Li20.

The hefty land holding in Higginsville, near Kalgoorlie, is at a nexus between MinRes’ Mt Marion lithium mine and its newly-acquired Bald Hill mine.

The MinRes spokesman noted the proximity of the Higginsville holding to the miner’s existing operations and said the company is “confident” its investment in Kali will deliver shareholder value over time.
“The MinRes investment in Kali Metals was in accordance with MinRes’ comprehensive corporate governance procedures, which in this case meant the investment was approved by James McClements, chairman of the board of directors,” he said.

“Managing director Chris Ellison is MinRes’ biggest shareholder, whose interests are fully aligned with all of our shareholders.”

Reverse circulation drilling — which generally returns lower grades than rock chip samples — at Higginsville is set to kick off this half year.
Kali’s meteoric rise is at odds with the rest of the lithium sector. Producers have been badly stung by weak prices for the battery ingredient, while the shine has come off once-vaunted explorers.

Shares in Wildcat Resources — that counts MinRes as its major shareholder and was the biggest gainer on the ASX in 2023 — have shed over 15 per cent in the past month.
MinRes is also the major shareholder in Delta Lithium, where Mr Ellison is chairman, and holds large stakes in a raft of other WA lithium hopefuls including Bill Beament’s Develop Global, Global Lithium, and Azure Minerals.

Mr Ellison and Russell James regularly rub shoulders on the Western suburbs social scene with other Kali key shareholders — Mario and Alison Di Lallo — who control 1.2m shares in the lithium hopeful via a 0.8 per cent stake.
Mr Di Lallo founded home insulation provider Cool or Cosy.
Kali was spun-out from Kalamazoo Resources and Karora Resources — which own a combined 42 per cent in the explorer — and listed on Monday after a heavily-oversubscribed $15 million IPO in November.