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Highlights

  • Delta Lithium to spin out gold-focused Ballard Mining as a separately listed ASX entity.

  • Ballard to house Delta’s Mt Ida gold asset and raise $25M–$30M via IPO.

  • Delta to retain 49% stake, while maintaining focus on core lithium projects.

Delta Lithium Ltd (ASX:DLI) has announced a strategic demerger of its gold exploration interests, unveiling plans to launch Ballard Mining as an independent, ASX-listed company. The new vehicle will house Delta’s Mt Ida gold asset, allowing Delta to sharpen its focus on lithium development while giving investors direct exposure to a standalone gold play.

Ballard Mining will aim to raise between AU$25 million and AU$30 million through an initial public offering (IPO) to fund exploration and development of the Mt Ida gold prospect. Delta will retain a 49% equity stake in Ballard post-listing, ensuring it remains a significant stakeholder in any potential gold upside.

The new entity will be chaired by former De Grey Mining chair Simon Lill as Non-Executive Chair (NEC), with Delta’s Managing Director James Croser stepping into a Non-Executive Director (NED) role. The managing director role of Ballard will be filled by Paul Brennan, although it is not yet confirmed if he is the former CEO of PolyNovo.

Strategic Separation Amid Market Trends

Delta framed the demerger as a logical step amid diverging commodity market dynamics, with lithium prices currently under pressure and gold maintaining relative strength.

“The Demerger enables the Company to continue focusing on its primary business, being the exploration and development of its lithium assets at the Mt Ida Project and the Yinnetharra Lithium Project,” Delta stated in its ASX release.

With DLI shares last trading at 19 cents, investors will now be watching closely for Ballard’s IPO details and early exploration results. T