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LE Minerals Limited (ASX:LEL)

ALERT: Price-sensitive ASX Announcement for LEL
Current share price for LEL : $0.345 -0.015 (-4.17%)+
Announcement
Release
16 Jun 2026 8:19AM
Price at Release
$0.360
Full Release
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Summary
LE Minerals Limited announced an update on the sale of its graphite assets, comprising the Burke, Mt Dromedary, and Corella Graphite Projects in Queensland, to M Battery Materials Pty Ltd (MBM) for $20 million. The transaction involves $5 million in cash and $15 million in shares. Both companies have completed due diligence, with MBM planning an IPO and ASX listing. LE Minerals will seek shareholder approval for the in-specie distribution of shares and anticipates convening a general meeting within two to three months.
Key Points
  • LE Minerals Limited updates on graphite assets sale to MBM for $20 million.
  • Transaction involves $5 million cash and $15 million in shares.
  • Both companies completed due diligence and issued notices to proceed.
  • MBM plans an IPO and ASX listing as a battery materials company.
  • Shareholder approval for in-specie distribution of shares to be sought.
  • General meeting expected in two to three months.
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.