Leo Lithium Limited engages in exploration and mining activities in Mali. Its project include the Goulamina lithium project that covers 100 square kilometres land holding in the Bougouni Region of southern Mali. The company was incorporated in 2019 and is based in West Perth, Australia.

Leo Lithium Limited

Leo Lithium is a lithium company developing the Goulamina Lithium Project in Mali. The company aims to become West Africa's first spodumene producer when the project comes online in 2024 to supply the lithium-ion battery industry.

Leo Lithium

Leo Lithium (ASX: LLL) is developing the world-class Goulamina Lithium Project in Mali. Goulamina represents the next lithium project of significant scale to enter production. The pure-play hard rock lithium project will be the first of its kind in West Africa. Early stage development is underway and first production targeted for early 2024.

Globally significant project 
Forecast annual spodumene concentrate production of 506ktpa increasing up to 831ktpa under Stage 2  positions Goulamina amongst the world’s largest spodumene projects.

Development underway and substantially funded 
One of a limited number of lithium development projects globally which are substantially funded. US$130 million in equity funding already received from Ganfeng and US$40 - $64 million in debt expected.

Tier 1 orebody
World-class, high grade hard rock lithium deposit with a Mineral Resource of 109Mt at 1.45% Li2O (3.9Mt LCE) and Ore Reserve of 52Mt at 1.51% Li2O (1.9Mt LCE). Drilling is underway targeting increases to the current resources and reserves.

Quality product
High quality concentrate with test work validating 6%+ Li2O with low impurities and having been successfully converted Goulamina’s spodumene concentrate to battery grade lithium hydroxide.

World-class partner
Project being developed in 50/50 partnership with Ganfeng, the world’s largest lithium chemical producer by production capacity, providing funding, offtake and operational support to de-risk development.

Decarbonisation thematic
Providing an essential raw material to the lithium-ion battery value chain for a clean energy future.

Leo Lithium Ltd

Leo Lithium Ltd is pleased to release its June quarterly report, which outlines the company's progress over the past three months.
 
Highlights include:
✔️ Continuous commitment to health and safety, with no lost time injuries since the Goulamina Project began.
✔️ The Project reached 86% completion at quarter end.
✔️ 1.07 million BCM material mined for the quarter.
✔️ Settlement reached with the Mali Government on all matters in dispute.
✔️ Leo Lithium to sell its shareholding in Mali Lithium B.V. for US$342.7 million in total, subject to shareholder approval.
✔️ Additional funds to be returned to shareholders as part of the first distribution in January 2025 and second distribution in July 2025.
✔️ Shareholders will vote on the proposed transaction at the Company’s AGM on 31 July 2024. The Board of Leo Lithium continues to recommend shareholders VOTE IN FAVOUR of the proposed transaction.
 
Managing Director Simon Hay said: 
“The June quarter was significant for the Company – finally settling with the Mali Government, announcing the proposed sale of our interest in MLBV and the Project, and transferring management responsibility of the Project to Ganfeng ahead of Leo’s eventual exit.
 
While we would have preferred to remain involved in the Project, in the absence of a viable agreement with the Mali Government, we believe the transfer of ownership is in the best interest of all stakeholders.
 
Once again, we thank shareholders for their patience and support while we progress the proposed transaction, continue to engage with the ASX, and develop a roadmap for the future of Leo Lithium.”
 
Read the full announcement here: https://lnkd.in/gBHaBmzK
 
#ASX #Mali #Lithium

Today, Leo Lithium Ltd announced an update to the Share Sale Agreement to sell the remaining 40% interest in Mali Lithium BV to GanfengLithium.

Following discussions with many shareholders over the last few weeks, the Board has committed to increasing the amounts returned to shareholders.

Leo Lithium is now proposing two cash distributions to shareholders with the first one, as previously announced, planned for January 2025 and a second payment in July 2025.

Leo Lithium will hold its AGM, which will allow shareholders to vote on the transaction, on Wednesday, 31 July 2024, at 10:00 a.m. AWST.

More information on how to vote can be found here: https://lnkd.in/gq4EzSbn

The Board of Leo Lithium continues to recommend shareholders VOTE IN FAVOUR of the Proposed Transaction.

Read the full update here: https://lnkd.in/geSjTatU

#ASX #MiningNews #Lithium

Following last week’s investor webinar, we’ve prepared an Investor FAQ document to address our shareholders’ top questions 📢

The document covers common areas of shareholder interest such as Leo’s settlement with the Mali Government, the proposed sale of Leo’s interest in Goulamina, returns to shareholders and the Company’s future.

Visit our website to access the document 👉 https://lnkd.in/g_MjhEAB

#asx #miningnews #lithium

Leo Lithium will host a Shareholder Webinar on 3 of July at 11:00am AWST/1:00pm AEST.
 
Join us to hear from our Managing Director, Simon Hay and Non-Executive Chairman, Rick Crabb who will provide an overview of the Proposed Transaction with GanfengLithium.
 
The Webinar will include a live Q&A session.
 
📆 Wednesday 3 July 2024
⌚️ 11:00am AWST / 1:00pm AEDT
📌 Register: https://lnkd.in/gvF5-fZr
 
Questions can also be lodged in advance via email at: info@leolithium.com
 
#asx #miningnews #lithium

Today Leo Lithium Ltd announced it has received US$5 million in consideration from GanfengLithium as the final part of the sale of its 5% interest in Goulamina. US$10.5 million was also secured from Ganfeng as a non-refundable deposit for the sale of Leo’s remaining 40% interest in the project.  

The Company’s announcement contains a timeline for shareholder voting on the deal and confirms the Board’s intention to return 100% of the net after-tax proceeds of the Tranche 1 payment of US$161.0 million (gross) to shareholders.  

Read the full ASX announcement here 👉 https://bit.ly/3QYoaLL  

An FAQ for investors addressing recent shareholder enquiries is available here 👉 https://lnkd.in/gGAc9JBt
 
#ASXNews #Lithium #Mali

Today, Leo Lithium Ltd announced it has entered into an MOU with the Mali Government, resolving all outstanding issues. At the same time, the company has entered into a Sale Agreement for GanfengLithium to purchase Leo’s remaining 40% interest in Goulamina for US$342.7 million.  
 
On the announcement, Leo Lithium’s Managing Director, Simon Hay, commented: 
“Despite our best efforts to reach a viable agreement with the Mali Government and considering the increasing risks associated with operating in Mali, the impact of the new 2023 Mining Code and the Company’s financial position for future funding, the Board of Leo Lithium has determined that a sale of the Company’s remaining interest in Goulamina is in the best interest of Leo Lithium shareholders.  
 
The Board believes the executed Sale and Purchase Agreement with Ganfeng provides our shareholders with certain value under highly challenging circumstances.” 
 
Read the full ASX announcement here 👉https://lnkd.in/gBkbWgkH
 
#ASX #Leo #Lithium #Mali

This morning, Leo Lithium Ltd released its March quarterly report, outlining the progress at our flagship Goulamina Lithium Project in Mali, which is over 80% complete! ✔️
 
Highlights of the quarterly include:
• Ongoing construction and operational readiness at Goulamina, the world’s fifth-largest global spodumene deposit.
• Open pit mining progressed to plan with 0.9 million bulk cubic meters material mined for the quarter.
• Commissioning of the first of the long-term Caterpillar mining fleet is complete and prestripping has commenced.
• Continued engagement with the Malian Government to reach a constructive resolution.
• Leo Lithium held cash of A$69.3 million at 31 March 2024, and the Goulamina JV held cash of US$21.8 million.
 
Managing Director Simon Hay said, 
“The development of the world-class Goulamina lithium project continued apace and we are pleased to report on the operational progress made during the quarter.
 
Leo Lithium continues to actively engage with the Mali Government to reach a constructive resolution, and we deeply appreciate our shareholders’ patience during what has been a difficult time for the Company. 
 
Leo Lithium and GanfengLithium continue to have a strong relationship and work towards bringing the project into production. Project activities during the quarter continued to plan and the project schedule remains on track to deliver first spodumene in Q3 FY24, becoming West Africa’s first spodumene producer.”
 
Read the full quarterly activities announcement here: https://lnkd.in/gaG8c8uW
 
#asx #mali #lithium #Leo #batteries

This morning, Leo Lithium Ltd updated the market on the recent progress made at our Goulamina Lithium Project, which has now reached ~80% completion. 

The highlights include:
•  On track to deliver first spodumene in early Q3 FY24, becoming West Africa’s first spodumene producer.
•  Corica Mali has mobilised the main fleet to site with 1.43 million bulk cubic metres of material mined in the Stage 1 project to date.
•  Over 425,000t of high-grade ore from Stage 1 is currently stockpiled to facilitate commissioning and operations start-up.
•  Leo Lithium and GanfengLithium continue to engage with the Mali Government in an attempt to resolve current issues relating to Goulamina.
•  Recently completed a water supply project to provide safe, clean and reliable drinking water to four local villages.
 
Managing Director, Simon Hay commented, “We deeply appreciate our shareholders’ patience and support as we navigate what has been a challenging time for the Company. We continue to engage with the Malian Government whilst working to advance the world-class Goulamina lithium project.”
 
Read the full announcement here: https://lnkd.in/gryQ4bzA
 
#asx #mali #lithium #batteries

Leo Lithium Ltd is pleased to announce entering a binding agreement to sell 5% of Goulamina to GanfengLithium for US$65 million (~AUD$98 million). 

Ongoing discussions with the Mali Government have been progressing towards a potential negotiated settlement, which if reached, would likely require a settlement payment to be made to the Government. We are working towards a mutually beneficial resolution as a priority.

This week, we also released our quarterly activities report, which clearly shows very solid construction progress at site during Q4 2023.

Read the full announcements here ➡️ https://shorturl.at/dmoxV and https://shorturl.at/cfr68

 #asx #lithium #leo #batteries

Leo Lithium Ltd est heureuse de publier son rapport pour le trimestre 3 de l’année 2023, décrivant les progrès de la société pour son projet phare de lithium de Goulamina au Mali.

Points saillants :
- Poursuite des progrès majeurs à Goulamina, le cinquième gisement de spodumène au monde.
- Engagement continu en faveur de la santé et la sécurité au travail avec 2 millions d'heures travaillées sans accident avec arrêt de travail.
- Mobilisation effective de la flotte principale du contractant minier, avec l’extraction de 466 000 mètres cubes de matériaux en vrac durant le trimestre.
- Mise en œuvre d’initiatives en faveur du développement communautaire, et promotion de l’emploi local, avec 84% de maliens sur un total de 1,424 employés.

COM:LEOLITHIUM