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An update from Global Lithium Resources Ltd. ( (AU:GL1) ) is now available.
Global Lithium Resources Limited has announced the sale of its entire investment in Kairos Minerals Limited, amounting to 264 million shares, for $7.1 million. This transaction enhances Global Lithium’s cash position to $21.8 million, which will be directed towards the development of the Manna Lithium Project. Additionally, the collaboration agreement with Kairos regarding the Roe Hills Lithium Project has been terminated, potentially allowing Global Lithium to focus more resources on its core projects.
The most recent analyst rating on (AU:GL1) stock is a Sell with a A$0.13 price target. To see the full list of analyst forecasts on Global Lithium Resources Ltd. stock, see the AU:GL1 Stock Forecast page.
More about Global Lithium Resources Ltd.
Global Lithium Resources Limited is a diversified lithium exploration and development company based in Western Australia. It focuses primarily on the Manna Lithium Project in the Goldfields and the Marble Bar Lithium Project in the Pilbara region. The company has established itself as a significant player in the global lithium market with a total Indicated and Inferred Mineral Resource of 69.6 million tonnes at 1.0% Li2O across its projects.
Average Trading Volume: 413,582
Technical Sentiment Signal: Buy
Current Market Cap: A$91.61M
For a thorough assessment of GL1 stock, go to TipRanks’ Stock Analysis page.