Mining exploration company Zenith Minerals has appointed Perth-based corporate advisory firm Azure Capital as strategic adviser for the review of its lithium business. This move underscores Zenith's commitment to maximising shareholder value and exploring new strategic opportunities in the rapidly evolving lithium sector.
Azure, renowned for its expertise in the metals and mining sector, particularly in lithium, will guide Zenith through a comprehensive strategic review. This collaboration aims to enhance the value of Zenith's lithium assets, including the 100%-owned Split Rocks and Waratah Well lithium projects, in Western Australia.
The appointment follows Zenith's recent announcement of regaining full control over the Split Rocks and Waratah Well lithium projects. With Azure's support, Zenith will explore various strategic avenues, including potential sales and partnerships, in response to the growing interest from various strategic investors in the lithium market.
In addition to guiding the strategic review, Azure has also been appointed as Zenith's takeover response adviser, positioning the company to effectively navigate the dynamic corporate landscape of the lithium industry.
“We are delighted to appoint Azure Capital as our Corporate Adviser at this important time for the company. Azure has a very strong track record advising ASX-listed lithium companies and we believe they will be an excellent partner for Zenith as we undertake a strategic review of our lithium projects and look to maximise value for shareholders over these high-quality assets,” said MD Michael Clifford.
“We have received several unsolicited expressions of interest from potential strategic investors and continue to see significant corporate activity across the lithium sector. Now that the company has reassumed control of the assets, we will explore these opportunities further with the assistance of Azure."
Zenith has four lithium projects all located in Western Australia. The 100%-owned Split Rocks and Waratah Well projects are the two most advanced lithium projects in Zenith’s portfolio.