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Global Lithium Resources Limited (ASX:GL1)

ALERT: Price-sensitive ASX Announcement for GL1
Current share price for GL1 : $0.500 0.045 (9.89%)+
Announcement
Release
17 Oct 2025 9:49AM
Price at Release
$0.455
Full Release
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Summary
Global Lithium Resources Limited (ASX: GL1) has announced plans to spin-out its Marble Bar gold assets into a new entity, MB Gold Limited, which is set to list on the Australian Securities Exchange by Q1 2026 under the ticker MBG. While retaining its core lithium assets and rights at the Marble Bar Lithium Project, GL1 aims to capitalize on its gold assets by transferring certain tenements and mineral rights to MB Gold. The transaction involves MB Gold providing GL1 with shares and cash, and GL1 shareholders are entitled to a priority right in MB Gold's IPO, which seeks to raise $6 million. The spin-out includes the gold prospects of Twin Veins and Douglas Find, along with additional strategic tenements.
Key Points
  • Global Lithium Resources Limited (ASX: GL1) plans to spin-out its gold assets into a new entity, MB Gold Limited.
  • The spin-out aims to list MB Gold on the Australian Securities Exchange (ASX) in Q1 2026 under the ticker MBG.
  • Global Lithium will retain lithium tenements and rights at the Marble Bar Lithium Project.
  • An Implementation Agreement with MB Gold grants it the right to acquire certain tenements and mineral rights from GL1's gold assets.
  • MB Gold will pay GL1 8,000,000 shares and $900,000, subject to ASX conditions.
  • MB Gold aims to raise a minimum of $6 million through an IPO, led by Ventnor Securities Pty Ltd.
  • GL1 shareholders have a priority right to subscribe for shares in MB Gold.
  • The proposed spin-out includes the Twin Veins and Douglas Find gold prospects, covering approximately 515km2.
  • MB Gold will also acquire additional strategic tenements from GL1.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.