Global Lithium Resources has signed a binding cash takeover with Titan Lithium, which will pay A$1.15 for every share — a 73 percent premium that values the company at about $333 million and delivers immediate cash to shareholders. The transaction is not subject to financing or due diligence conditions, and Titan will supply a bridging facility of up to A$120 million across four tranches so construction at the Manna lithium project continues during the scheme process.
Titan, which sees Manna as a potential long-term feedstock source for its own operations, structured the bridging money carefully: an initial A$9.3 million tranche becomes drawable shortly after funding, a second tranche of A$60 million depends on long-form financing documents, and further tranches of A$20 million and A$40 million unlock if the scheme has not completed by January and February 2027. The facility carries 7 percent interest with a 12-month maturity.
The scheme still needs shareholder and court approval, the independent expert’s sign-off, and regulatory clearances including the Foreign Investment Review Board and the Australian Competition and Consumer Commission. Managing director Dianmin Chen said the board weighed “the certain and immediate value on offer” against Manna’s funding needs and execution risk “in what continues to be a volatile period for lithium markets.” The transaction pairs with the Elevra Lithium–Zhejiang Huayou Cobalt deal in Ghana as evidence that lithium assets are being consolidated by buyers with deep balance sheets while prices are depressed.