AFR Article: MinRes to boost Global Lithium stake in $121.5m raising
Anthony Macdonald, Sarah Thompson and Kanika SoodOct 25, 2022 – 9.59am
Oct 25, 2022 – 9.59amLithium explorer Global Lithium Resources is seeking to capitalise on heightened investor interest in the company, launching a $121.5 million equity raising on Tuesday morning.
The company, boosted by recent buying from Perth bigwig Mineral Resources, has launched a $111.4 million underwritten share placement and a share purchase plan targeting another $10.1 million.Mineral Resources will increase its stake to 9.9 per cent of shares on issue in the raising, to move to the same level as China’s Suzhou TA&A Ultra Clean Technology Co.
Stockbrokers Argonaut, Canaccord Genuity and Macquarie started lining up investors on Tuesday morning.Coal has never been more lucrative. Robert RoughThe deal was at $2.25 a share, which was 13.8 per cent discount to the last close, according to terms sent to potential investors.Funds raised would be used to acquire and complete a feasibility study at the Manna Lithium Project, located east of Kalgoorlie in Western Australia, and for the company’s Marble Bar Lithium Project in the Pilbara region.Global Lithium will pay $60 million for full control of Manna, excluding precious metals rights. Manna is owned by ASX-listed Breaker Resources.The placement was underwritten by the three brokers, who called for bids by close of business on Tuesday.
The raising comes only six weeks after Mineral Resources lifted its stake in the company to 8 per cent, having taken an initial 5 per cent interest in March.The buying helped boost Global Lithium’s share price to record levels. The stock closed at $2.61 on Monday to be up nearly 130 per cent this year.Global Lithium listed in May last year, via a $10 million IPO at 20¢ a share.
AFR Article: MinRes to boost Global Lithium stake in $121.5m...
Add GL1 (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
27.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $71.57M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.0¢ | 27.0¢ | $98.38K | 358.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20445 | 27.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 58661 | 2 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| GL1 (ASX) Chart |