Australia's Global Lithium Resources rises on spin-off plans for gold assets

Global Lithium Resources

17/10/2025 01:45

** Shares of Global Lithium Resources GL1.AX rise as much as 9.9% to A$0.50, their highest level since April 12

** Mining explorer launches IPO process to spin off its Marble Bar gold assets into a new entity, MB Gold Ltd

** Co targeting Q1 2026 to list on Australian Securities Exchange under ticker MBG

** MB Gold to seek to raise a minimum of A$6 million ($3.89 million) at A$0.20 per share

** More than 700,000 shares change hands, vs the 30-day average of 514,742 shares

** Stock has more than doubled in value this year, including the day's move

($1 = 1.5432 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))