Global Lithium Resources’ (ASX:GL1) wholly owned subsidiary GLR Australia Investments has sold its stake in Kairos Minerals (ASX:KAI) as the company shifts its focus to the Manna Lithium Project in the Goldfields region of Western Australia.
The subsidiary held 264 million shares in Kairos, returning $7.1 million via the sale before costs.
Global Lithium, which has a market capitalisation of $91.6 million, claims that the sale has allowed it to strengthen its cash balance to $21.8 million.
This sale has since terminated the collaboration agreement between parties that was first entered into in June 2023, involving Kairos’ Roe Hills Lithium Project situated 100km east of Kalgoorlie.
Proceeds will be put towards the Manna Lithium Project, which is currently being progressed to return a Definitive Feasibility Study.
Global Lithium will incorporate the deposit’s June 2024 resource estimate into the study, comprising 51.6 million tonnes at 1% lithium oxide, increasing the JORC-compliant resource by 43%.
The Definitive Feasibility Study is expected to be complete later this year.
Global Lithium Resources is a lithium explorer focused on developing its portfolio of assets in Western Australia, including the Manna Lithium Project in the Goldfields region and the Marble Bar Lithium Project in the Pilbara region.
Kairos Minerals will be attending this year’s Noosa Mining Investor Conference, held between 12-14 November 2025, at the Peppers Noosa Resort. Mining.com.au is a media partner for this year’s event.
Write to Maddison Elliott at Mining.com.au
Images: Global Lithium Resources
