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| Delta Lithium |
New ASX Listing to Unlock Mt Ida Gold Value
Demerger Separates Lithium and Gold Exploration
Delta Lithium is advancing the spin-out of its Mt Ida gold project through a new entity, Ballard Mining, which officially lodged its IPO prospectus ahead of a planned ASX listing. The IPO seeks to raise A$25–30 million via the issuance of 100–120 million shares at A$0.25 each.
Mt Ida Gold Resource Fuels Strategic Demerger
The spin-out follows a significant upgrade to the gold mineral resource estimate at Mt Ida, which includes the Baldock deposit and broader tenement package located 100 km northwest of Menzies, Western Australia. Delta Lithium will retain all non-gold rights, focusing exclusively on lithium assets post-demerger.
“Given the scale of the Mt Ida gold mineral resource estimate, the board made a strategic decision to demerge the gold asset into Ballard,” said Chairperson Simon Lill.
Shareholder Distribution and Leadership
The demerger is contingent on Delta shareholder approval, ASX conditional listing, and the minimum IPO raise of A$25 million. Eligible Delta shareholders will receive 1 Ballard share for every 11.25 Delta shares held on the in-specie record date.
Ballard will be led by Managing Director Paul Brennan, a seasoned mining executive, with a board comprising veteran industry figures. Several non-executive directors have committed to participating in the IPO.
Funding Exploration and Growth
IPO proceeds will fund an extensive drilling program to expand and infill the current gold resource. A mineral rights deed grants Ballard exclusive gold rights on the Mt Ida tenements, while Delta retains access to lithium and other minerals.
The separation positions both companies to pursue focused exploration strategies, reflecting strong market interest in both battery metals and precious metals.
ScrapInsight Commentary
Delta Lithium’s strategic demerger underscores a growing trend toward portfolio specialization among junior miners. By isolating lithium and gold into distinct corporate entities, each can tap investor interest more efficiently. For scrap and circular economy sectors, this also signals continued long-term confidence in lithium demand—justifying investment in battery recycling streams—even as traditional metals like gold remain attractive for exploration and hedging.
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