PERTH: Global Lithium Resources Ltd. (ASX: GL1) announced Monday it has sold its entire stake in Kairos Minerals Ltd. (ASX: KAI), generating $7.1 million before costs and strengthening its cash position to $21.8 million.
The divestment, executed through GLR Australia Investments Pty Ltd, included the sale of 264 million shares and marks the end of Global Lithium’s investment in Kairos. The company said proceeds will be directed toward advancing its flagship Manna Lithium Project in Western Australia.
As part of the transaction, Global Lithium also terminated its Collaboration Agreement with Kairos regarding the Roe Hills Lithium Project, originally signed in June 2023.
Global Lithium holds a combined Indicated and Inferred Mineral Resource of 69.6 million tonnes at 1.0% Li₂O across its Manna and Marble Bar lithium projects, positioning it as a significant player in the global lithium sector.