Australia's Global Lithium Resources hits record low on corporate, operational changes

Global Lithium Resources

10/09/2024 01:54

** Shares of Global Lithium Resources  GL1.AX  fall as much
as much as 13.2% to a record low of A$0.165     
    ** Lithium miner says it is implementing corporate and
operational changes considering the "downturn in the global
lithium market"
    ** Co is pausing several components of a definitive
feasibility study for its Manna lithium project in Western
Australia
    ** Co also announces a material reduction in monthly
expenditure and a reduction in board size to three from four 
    ** Stock set for worst session since Sept. 4, if current
losses hold    
    ** GL1 down 85.9% YTD, as of 1248 GMT

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))