Leo Lithium ends asset hunt, returns A$330m to shareholders
ASX-listed Leo Lithium has said it will distribute A$330-million to shareholders this year and wind down operations after abandoning its search for new assets.
The company will return the cash in two tranches – a dividend of A$265-million payable on October 14 and a further A$65-million distribution before year-end, subject to shareholder approval and tax rulings.
The move follows the earlier return of A$207-million in January after the sale of the company’s interest in the Goulamina lithium project in Mali.
Leo Lithium said it would also monetise its remaining asset, a Trailing Product Sales Fee (TPSF), and distribute the net proceeds as a third payment. “The company will look to dispose of the TPSF as soon as practically possible, while also seeking to maximise the value achieved for shareholders,” it said.
As part of the wind-down, Leo Lithium will right-size its organisation over the next six weeks and has terminated 2025 equity incentives for employees, saying vesting conditions can no longer be met.
Goulamina was once considered Leo Lithium’s flagship asset and a globally significant hard rock lithium resource, developed in partnership with Ganfeng. Leo Lithium decided to sell its stake in the project in May last year, after failing to reach a “viable agreement” with the government.
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