Axiant Resources (ASX:AXR) has commenced trading on the Australian Securities Exchange (ASX) following its spinout from Core Lithium (ASX:CXO).
Axiant was admitted to the ASX official list, with shares beginning trading today (2 September 2026) after completing its prospectus lodgement in July.
The initial public offering raised $8 million through the issue of 40 million shares at $0.20 per share, which included $6.4 million raised via a priority offer to eligible Core shareholders.
Core retains a 33% interest in Axiant, holding 20 million ordinary shares and 20 million performance rights tied to resource growth and share price milestones. Both holdings are escrowed for 24 months.
Core Managing Director Paul Brown says Axiant’s listing completes the spinout of the company’s gold and non-lithium elements.
“[This enables] us to maintain our focus on the Finniss Lithium Operation, while retaining exposure to the gold sector through our significant Axiant shareholding,” Brown says.
Core Lithium (ASX:CXO) is a hard-rock lithium company that owns the Finness Lithium Operation on the Cox Peninsula in the Northern Territory.
Write to Paula Fabe at Mining.com.au
Images: Core Lithium
