Firefinch sells stake in Leo Lithium

5th July 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia


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PERTH ( – Gold miner Firefinch has sold 28.6-million of its shares in lithium spin-off Leo Lithium at a price of 45.5c each, garnering revenues of A$12.9-million.

Leo Lithium started share trading in June following a successful initial public offering (IPO) in May, during which Leo raised A$100-million through the issue of 142.9-million shares at a price of 70c each.

Leo Lithium is a spin-off from fellow-listed Firefinch, and holds the Goulamina lithium project, in Mali, in a joint venture with Chinese partner Jiangxi Ganfeng Lithium.

Firefinch’s remaining 210.9-million shares in Leo are subject to escrow until June 23, 2024, and the company is not permitted to deal with or sell the escrowed shares except in limited circumstances as permitted by the ASX Listing Rules, including a takeover or scheme of arrangement.

Edited by Creamer Media Reporter


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