Page 15 - IPO- Neat

IPos

Global Lithium Resorces Ltd

ASX: GL1
Global years and 12,000m of exploration work Listing date: May 6

by the Global Lithium team. The compa-

ny was founded a year earlier by a group IPO amount: $10 million

appeal sends of investors which includes well-known Share price range since listing: 24c-$1.32

WA mining executive Dianmin Chen who
Address: Suite 8, 7 The Esplanade, Mt
is now a non-executive director. The

strategy was to scour the globe to find a Pleasant WA 6153

lithium IPO suitable lithium project. Tel: +61 8 9316 9100

Unsurprisingly, the search landed on

Website: globallithium.com.au
WA and the Archer deposit which is fa- Social media: @global_lithium

upwards vourably located in the emerging Pilbara Email: info@globallithium.com.au

lithium province, close to Pilbara Miner-
als Ltd’s Pilgangoora mine and the Wod- Key personnel (on listing): Jamie Wright

gina development project. (managing director), Dianmin Chen (non-

“The Global technical team thought executive director), Warrick Hazeldine

ommodity and location played their it bared similarities to Wodgina so the (non-executive chair)

Cpart but project status was just as company picked it up in 2019,” inau- Focus: Lithium, gold and base metals,

crucial to the success of Global Lithium gural managing director Jamie Wright Western Australia
Ltd’s entry onto the bourse in May. explained to Paydirt in May 2021. “We
Global Lithium closed the calendar started exploration almost immediately
year as the second most successful new and within 12 months we had a resource.
listing, posting a 240% rise to 95c/share We could move quickly because the spo- over more than 6km. Preliminary metal-
after arriving on the ASX at 20c. dumene outcrops at surface.” lurgical test work also began in the De-
The company undoubtedly caught the Hazeldine said the combination of cember quarter ahead of a resource up-
battery minerals wave with investors en- commodity, location and established as- date and 50,000m drill programme early
amoured by the company’s Marble Bar set made Global Lithium a ready-made this year.
lithium project in the Pilbara, Western option for investors eager to get in on the The company was active in the corpo-
Australia. However, according to chair- ground floor of a battery minerals invest- rate space, securing an additional 120sq
man Warrick Hazeldine, other elements ment. km of tenements south of Archer and
contributed to the achievement. “We didn’t have to educate the mar- then in December striking a JV agree-
“Rather than listing on the back of ket on the location because you couldn’t ment to acquire 80% of the Manna lith-
some exploration potential, we came ask for a better jurisdiction than the Pil- ium project, 100km east of Kalgoorlie,
to market with hard assets which could bara,” he said. “The commodity choice from Breaker Resources NL.
grow. We understood the importance of has been vindicated by lithium hydroxide “We’ll be getting on the ground as
giving the market a growth story,” Hazel- pricing in recent months and thanks to quickly as possible on both projects in
dine told Paydirt, referring to the 10.5mt the early work we have a great platform 2022,” Hazeldine said. “We want to get
@ 1% Li2O inferred resource Global Lith- to build from.” up and running because it is a very excit-
ium defined for the Archer deposit prior The 2021 exploration programme de- ing time to be in battery minerals so we
to listing. livered strike extensions at Marble Bar look forward to keeping the news flowing
The resource came on the back of two with lithium mineralisation now defined for investors.”
Such has been the progress from $10
million IPO to genuine lithium develop-
ment story that Global Lithium has at-
tracted corporate interest into the com-
pany.
In November, Chinese group Yi-
bin Tianyi – the lithium chemical arm of
CATL, the world’s largest EV battery-
maker – became a 9.9% shareholder as
part of a $13.6 million capital raising.
That was followed in January by the
appointment of former Fortescue Met-
als Group Ltd executive Greg Lilleyman
to the board, along with Ron Mitchell
who was previously sales director, inter-
national business group for Tianqi Lith-
ium Corporation, majority owner of the
Greenbushes lithium mine in WA.
“Those appointments make people re-
alise how real this project is,” Hazeldine
said. “This is Greg’s first role since leav-
ing Fortescue and Ron is very skilled in
lithium offtake and marketing.”
The Global Lithium board on listing – Dianmen Cheng, Warrick Hazeldine and Jamie Wright. – Dominic Piper
The company announced in January that Wright was stepping down with Greg Lilleyman and
Ron Mitchell joining the team
Page 42 FeBRUaRY 2022 aUSTRaLIa’S PaYDIRT