Global Lithium Resources entered a binding Scheme Implementation Deed with Titan Australia Mining under which Titan proposes to acquire 100 percent of Global Lithium’s shares at A$1.15 each in cash. The offer represents a 73 percent premium to the September 18 closing price of A$0.665 and values the company at approximately A$333 million on a fully diluted basis. The board has unanimously recommended shareholders vote in favour.
The target is the 100-percent-owned Manna Lithium Project, about 110 km east of Kalgoorlie in Western Australia’s Goldfields region. Manna carries a total indicated and inferred resource of 51.6 million tonnes grading 1.0 percent lithium oxide, with ore reserves of 20.96 million tonnes at 0.89 percent. The project’s economics were upgraded after the Manna-Nova Operation Integration Study doubled post-tax net present value to A$946 million, assessing integration with the Nova processing plant Global Lithium acquired to advance toward production.
Titan Australia Mining is a subsidiary of Titan Lithium, a UAE-headquartered critical minerals group building one of the region’s largest battery-grade lithium processing facilities in Abu Dhabi — a roughly US$2 billion refinery designed for 120,000 tonnes a year of lithium carbonate and hydroxide across two phases, targeting first production in 2027. Titan will also provide up to A$120 million in bridging finance so Manna’s development continues during the scheme process.
The deal needs shareholder approval plus Foreign Investment Review Board and Australian Competition and Consumer Commission clearances, with closing targeted for early 2027. The market is not treating it as done: Global Lithium shares trade around A$0.995, a visible discount to the A$1.15 offer that prices completion risk and the wait.