Global Lithium Resources Ltd (ASX:GL1) has selected Perth-based Azure Capital Pty Ltd as the financial adviser for its 100% owned Manna Lithium Project.
Situated some 100 kilometres east of Kalgoorlie, Western Australia, the Manna Lithium Project is set to benefit from Azure’s 13 years of expertise in the lithium sector.
Azure boasts a two-decade history in the metals and mining sector and is proficient in offering advisory services to companies listed on the Australian Securities Exchange (ASX).
The firm will assist Global Lithium in securing vital offtake agreements, partnerships, and project financing.
Notably, Azure is part of the affiliate network of Natixis CIB, one of Europe's largest banks, amplifying its international industry reach.
Fast-track activities
Global Lithium chief financial officer Matthew Allen said: “We are delighted to appoint Azure as financial adviser to the company following a competitive tender process that saw strong interest in both the company and the Manna Lithium Project from the financial advisory sector.
“Azure has significant experience in not only the metals and mining industry, but particularly the lithium sector where it has advised a number of ASX-listed companies.
“ Azure will have an important role supporting Global Lithium’s decision making in securing offtake agreements, partnerships and project financing, allowing us to progress the future development of the Manna Lithium Project.
“We look forward to working with Azure as we continue to fast-track activities at the Manna Lithium Project towards an FID in CY2024.”
Positive investment decision
Azure will work with Global to implement funding solutions that will enable the company to be in a position to make a positive investment decision on the Manna Lithium Project once the DFS is completed and all requisite approvals are in hand.
Under the agreement, Azure will also deliver sound financial model development for project evaluation, funding optimisation and supporting Global with key decision making.
Global Lithium is currently progressing the definitive feasibility study (DFS) at the Manna Lithium Project towards completion by March quarter 2024.
The company intends to make a final investment decision (FID) on the Manna Lithium Project in 2024.