Lithium Energy Announces Strategic Asset Sales
Company Announcements

Lithium Energy Announces Strategic Asset Sales

Lithium Energy Ltd. (AU:LEL) has released an update.

Lithium Energy Ltd. is set to sell its 90% stake in the Solaroz Lithium Project to CNGR for approximately A$97 million, with completion expected in Q4 2024 after meeting various preconditions. Concurrently, the company plans to combine its Queensland Graphite Assets with NOVONIX Ltd. into Axon Graphite Ltd., aiming to raise up to A$25 million through an IPO, with both companies retaining a 25% stake post-IPO. Post transactions, Lithium Energy will explore new battery mineral investments and consider returning net proceeds to shareholders.

For further insights into AU:LEL stock, check out TipRanks’ Stock Analysis page.

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App