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Delta Lithium Limited ( (AU:DLI) ) just unveiled an update.
Delta Lithium Limited has announced the demerger of its Mt Ida Gold asset into a new company, Ballard Mining Limited, which will focus solely on gold exploration. This strategic move, pending shareholder and ASX approval, aims to unlock the value of the gold asset for Delta shareholders and allow Delta to concentrate on its core lithium projects. The demerger involves an in-specie distribution of Ballard shares to Delta shareholders and a concurrent IPO to raise between $25 million and $30 million. Delta will retain a significant equity stake in Ballard, ensuring continued exposure to the gold asset’s potential upside.
The most recent analyst rating on (AU:DLI) stock is a Buy with a A$0.70 price target. To see the full list of analyst forecasts on Delta Lithium Limited stock, see the AU:DLI Stock Forecast page.
More about Delta Lithium Limited
Delta Lithium Limited operates in the mining industry, focusing on the exploration and development of lithium assets. The company is primarily engaged in the Mt Ida Project and the Yinnetharra Lithium Project, emphasizing its market focus on lithium resources.
Average Trading Volume: 791,155
Technical Sentiment Signal: Hold
Current Market Cap: A$146.9M
See more data about DLI stock on TipRanks’ Stock Analysis page.