Global Lithium Resources (ASX:GL1) reports that significant shareholder Mineral Resources (ASX:MIN) has announced an increase in its shareholding to 8% of the issued capital of the company.
MinRes previously held a 5.12% stake in Global Lithium Resources.
The growing multi-asset West Australian lithium company’s share price had risen 8.943% to $2.680 as of 8.50am AWST following the announcement.
Addressing the move by MinRes, Global Lithium Non-Executive Chair Warrick Hazeldine said: “We are pleased that one of our major shareholders MinRes continues to build its stake in GL1, which clearly demonstrates their strong support in both GL1’s assets and the team.
“We are pleased that one of our major shareholders MinRes continues to build its stake in GL1, which clearly demonstrates their strong support”
As we continue to progress our programs on the ground at both Manna and Marble Bar, it is truly an exciting time to be part of the global energy transition market.
I look forward to keeping our shareholders updated as we advance our ambitions of becoming a significant WA lithium development and production company.”
Global Lithium is a diversified Western Australian focused mining exploration company with multiple assets in key lithium branded jurisdictions with a primary focus on the 100%-owned Marble Bar Lithium Project (MBLP) in the Pilbara region and the 80%-interest in the Manna Lithium Project in the Goldfields, Western Australia.
The company has now defined a total Inferred Mineral Resource of 18.4Mt @ 1.06% Li2O at its MBLP and Manna Lithium projects.
Write to Adam Orlando at Mining.com.au
Images: Global Lithium Resources Ltd
